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Subsequent Events
6 Months Ended
Jun. 30, 2015
Subsequent Events [Abstract]  
Subsequent Events

 

14. Subsequent Events

The Company has completed an evaluation of all subsequent events through the date of issuance. The Company concluded that no subsequent event has occurred that requires disclosure, except as noted below:

On July 10, 2015, the Company posted a letter to shareholders on its website and issued and filed a copy of the letter with the U.S. Securities and Exchange Commission via Form 8-K. The letter stated that RUT58-60 does not fit within the Company’s core focus on differentiated inhaled therapies for pulmonary disease and that the Company is exploring various options to create shareholder value including a possible sale of the asset or strategic partnership whereby further clinical development would be funded by third parties. On August 3, 2015, the Company notified the U.S. Food and Drug Administration that the Phase 1/2 RUT58-60 clinical study was terminated.