Commitments and Contingencies |
3 Months Ended | |||||||||||||||||||||||||||||||||||
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Mar. 31, 2017 | ||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies |
10. Commitments and Contingencies
Office Lease
The Company’s corporate office space, which is leased under an operating lease, is located in Baltimore, Maryland. The lease provided for three months of rent abatement and includes escalating rent payments. Rent expense is recognized on a straight‑line basis over the term of the lease. Rent expense for the office lease amounted to approximately $47,000 for the three months ended March 31, 2017 and 2016. Pursuant to the terms of such lease, the Company’s future lease obligation is as follows:
* Nine months remaining in 2017
Obligations to Contract Research Organizations and External Service Providers
The Company has entered into agreements with contract research organizations and other external service providers for services, primarily in connection with the clinical trials and development of the Company’s product candidates. The Company was contractually obligated for up to approximately $1.0 million of future services under these agreements as of March 31, 2017. The Company’s actual contractual obligations will vary depending upon several factors, including the progress and results of the underlying services.
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