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Note 5 - Commitments and Contingencies
 12 Months Ended
Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]

5.

Commitments and Contingencies


Leases


We lease 26,067 square feet of laboratory, office and warehouse space in Redwood City, California under a lease expiring on November 30, 2016. In addition, we currently lease 1,400 square feet of office space in Stamford, Connecticut and 2,020 square feet of office space in San Diego, California. The lease for the Connecticut office space was extended in 2014 for a three-month period ending on March 31, 2015. The lease for the San Diego office space was extended in 2014 for a six-month period ending on June 30, 2015. We believe our facilities are adequate and suitable for our current needs, and we will be able to obtain new or additional leased space in the future when necessary. We also lease certain office equipment under operating lease arrangements.


Annual future minimum lease payments as of December 31, 2014 are as follows (in thousands):


   

Operating Leases

 

Years ended December 31,

       

2015

  $ 867  

2016

    722  

2017

    —  

2018

    —  

2019

    —  

Thereafter

    —  

Total

  $ 1,589  

Rent expense under all operating leases totaled approximately $1,381,000, $967,000 and $580,000 for the years ended December 31, 2014, 2013 and 2012, respectively.


Clinical Development Agreements


We have entered into agreements with various vendors for the research and development of product candidates, which are generally cancellable anytime at our option. Under the terms of these agreements, the vendors provide a variety of services including conducting preclinical development, research, manufacturing clinical compounds, enrolling and recruiting patients, monitoring studies, data analysis and regulatory filing assistance. Payments under these agreements typically include fees for services and reimbursement of expenses. In addition, under certain agreements, we are subject to penalties in the event we permanently discontinue performance under these agreements.


Purchase Obligations


At December 31, 2014, purchase obligations of approximately $877,000 primarily consisted of commitments with third-party manufacturers of materials to be used in our clinical and pre-clinical studies, as well as commitments with various vendors for clinical and preclinical studies. Approximately $218,000 of the total purchase obligations were not included in our financial statements for the year ended December 31, 2014.