PREPAID EXPENSES AND OTHER CURRENT ASSETS

9 Months Ended

Sep. 30, 2016

Prepaid Expenses And Other Current Assets [Abstract]

PREPAID EXPENSES AND OTHER CURRENT ASSETS

4.	PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses and other current assets consisted of the following (in $000s):

	December 31,		September 30,
	2015		2016
Research and development tax credit receivable	$	2,093	$	1,392
Prepayments		893		845
Grant receivable		326		249
Sales tax receivable		607		366
Deposits		132		132
Other current assets		—		1,537
	$	4,051	$	4,521

Other current assets is a receivable for the proceeds from the sales of common stock under the FBR sales agreement, which were received in October 2016. The Company accounts for shares sold using “Trade Date Accounting”. The $1.5 million represents stock issued prior to September 30, 2016 but for which settlement occurred in October, 2016.