Prepaid Expenses and Other Current Assets

3 Months Ended

Mar. 31, 2018

Prepaid Expenses And Other Current Assets [Abstract]

Prepaid Expenses and Other Current Assets

Prepaid Expenses and Other Current Assets

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

	December 31,		March 31,
	2017		2018
Research and development tax credit receivable	$	1,054	$	1,278
Prepayments and VAT receivable		772		1,045
Other current assets		238		684
	$	2,064	$	3,007

Included in current assets as at March 31, 2018 is approximately $0.6 million of receivables. This relates to royalty payments receivable due under a December 2005 Asset Purchase Agreement, or APA, whereby Xcyte Therapies, Inc., or Xcyte (a business acquired by the Company in March 2006) sold certain assets and intellectual property to ThermoFisher Scientific Company, or TSC (formerly Invitrogen Corporation) through an APA and other related agreements. The assets and technology were not part of the Company’s product development plan following the transaction between Xcyte and Cyclacel in March 2006. Accordingly, the company recognized $0.6 million of other income arising from sales of chimeric antigen receptor T cell manufacturing technology (CAR-T) related to this transaction during the three months ended March 31, 2018.