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NOTE 13 – RELATED PARTIES
6 Months Ended
Jun. 30, 2020
Related Party Transactions [Abstract]  
NOTE 13 – RELATED PARTIES

NOTE 13 – RELATED PARTIES

 

In July 2015, J. Martin Carroll, a director of our company, was appointed to the board of directors of Catalent, Inc. From time to time, we have entered into agreements with Catalent, Inc. and its affiliates, or Catalent, in the normal course of business. Agreements with Catalent have been reviewed by independent directors of our Company, or a committee consisting of independent directors of our company, since July 2015. During the three months ended June 30, 2020 and 2019, we were billed by Catalent approximately $741,000 and $974,000, respectively, for manufacturing activities related to our clinical trials, scale-up, registration batches, stability and validation testing. During the six months ended June 30, 2020 and 2019, we were billed by Catalent approximately $2,044,000 and $2,371,000, respectively, for manufacturing activities related to our clinical trials, scale-up, registration batches, stability and validation testing. As of June 30, 2020 and December 31, 2019, there were amounts due to Catalent of approximately $592,000 and $35,000, respectively. In addition, we have minimum purchase requirements in place with Catalent as disclosed in Note 15, Commitments and Contingencies.

 

In April 2020, Karen L. Ling, Executive Vice President and Chief Human Resources Officer of American International Group, Inc., or AIG, was appointed to our board of directors. From time to time, we have entered into agreements with AIG in the normal course of business. Agreements with AIG have been reviewed by independent directors of our Company, or a committee consisting of independent directors of our Company, since April 2020. During the three and six months ended June 30, 2020, we were billed by AIG approximately $72,000 and $143,000, respectively, for various insurance coverage for our Company.