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Related Parties | 9 Months Ended
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Sep. 30, 2019
Related Party Transactions [Abstract] |
Related Parties | Related PartiesThe Company entered into a consulting services agreement, as amended, with a member of the Company's Board of Directors under which this board member provides certain scientific consulting services to the Company. Under this agreement, as amended in June 2018, this board member is compensated at a bi-weekly rate of $5,000 (plus reimbursement for certain administrative and travel related expenses) and received options to purchase 544 shares of common stock in November 2017, the commencement date of the agreement. Total amounts paid to this board member under this agreement for the three months ended September 30, 2019 and 2018 and the nine months ended September 30, 2019 and 2018, were $30,000, $30,000, $95,000, and $91,000, respectively, which was recorded in research and development expenses in the accompanying condensed statements of operations. The Company accounted for the grant of options as an award to a non-employee and measures compensation cost for this award based on the value of the award at the date the consulting services are complete. The options granted to this board member were granted at an exercise price of $0.367 (the estimated fair value of share of common stock on the grant date using an OPM model), and vests over a three-year term expected to coincide with the period the board member is expected to provide consulting services to the Company. The estimated fair value of the awards and related compensation cost recognized during the three and nine months ended September 30, 2019 and 2018 was immaterial. All compensation cost related to these awards is recorded in research and development expenses in the accompanying condensed statements of operations. Effective July 12, 2019, this consultant no longer serves on the Company's Board of Directors. In September 2011, the Company entered into a license agreement with the Company's Chief Scientific Officer, and a related company, De Novo Diagnostics, Inc. The license agreement, covering novel methods for monitoring low-dose methotrexate therapy, relates to technology developed by the Company's Chief Scientific Officer prior to joining the Company. The technology has yet to be used by the Company. Under the agreement, the Company's Chief Scientific Officer will be eligible to receive up to $0.6 million upon the achievement of certain sales milestones and an ongoing royalty of 5% on sales. The third tranche closing of the Series F financing and the closings of the Series G financing described in Note 8 were issued to existing holders of the Company's redeemable convertible preferred stock.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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