XML 26 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6
Capital and Operating Lease Commitments
 12 Months Ended
Dec. 31, 2011
Capital and Operating Lease Commitments

9.      Capital and Operating Lease Commitments

 

We had no material commitments for capital expenses or commitments extending beyond three years as of December 31, 2011.  The following table represents our contractual obligations and commitments at December 31, 2011 (in thousands of U.S. dollars):

 

    Less than 
1 year		     1-3 
years		     Total  
                   
OCT Clinical Service Agreement (1)     288       144       432  
Database Integration Service Agreement (2)     117       21       138  
Drug purchase commitments (3)     125       -       125  
Total   $ 530     $ 165     $ 695  

 

(1) Under the service agreement with OCT Group LLC entered in August 2010, we are required to make several payments over the course of our planned Phase II clinical trial in Russia.  The payments will be made upon the fulfillment of several milestones during the planned clinical trial including: regulatory approval of trial, enrollment of patients and the completion of therapy of patients.The Company amended the agreement in April 2011 and August 2011 for the addition of additional sites for OCT to service during the Phase II clinical trial.The Company's amended agreement with OCT in August 2011 for the monitoring of additional sites for OCT to service increased the contractual obligations by $0.09 million.
(2) Under the service agreement with Database Integrations entered in December 2010, we are required to make several payments over the course of our planned Phase II clinical trial in Russia.  The payments will be made upon the fulfillment of several milestones during the planned clinical trial including: Electronic Data Collection live, time and completion of enrollment and the closing of the database.
(3) Commitments to our third party manufacturing vendors that supply drug substance primarily for our clinical studies.