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Related Party Transactions
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9 Months Ended | |
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Sep. 30, 2014
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| Related Party Transactions [Abstract] | ||
| Related Party Transactions |
10. Related Party Transactions
Related Party Service Agreement
On April 3, 2014, the Company entered into a Shared Services Agreement with Opus Point Partners Management, LLC (“OPPM”) in which the parties agreed to share a rented facility as well as costs for certain services, which they individually require for the operation of their respective entities. Dr. Rosenwald, Chairman, President and Chief Executive Officer and Mr. Weiss, Executive Vice President, Strategic Development, are both Partners of OPPM. The Company incurred expense of approximately $40,000 and $79,000 for the three and nine month periods ended September 30, 2014, respectively. The agreement can be terminated by either party with thirty days’ notice. |
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- Details
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- Definition
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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