|6 Months Ended|
Jun. 30, 2016
|Subsequent Events [Abstract]|
Cystic Fibrosis Development Award
In August 2016, the Company received a $1,000,000 payment from the CFFT for achieving a milestone in July 2016 related to dosing the median clinical trial patient as per the terms of the Companys development award with the CFFT (See Note 13).
2015 Bonus Payments
As previously disclosed, the Companys Compensation Committee had not previously determined the amounts of performance-based cash bonuses payable to the Companys executive officers for the fiscal year ended December 31, 2015. On August 11, 2016, the Compensation Committee approved bonuses in the amounts of $136,950, $136,950, $136,125 and $114,125 for Yuval Cohen, the Companys Chief Executive Officer, Mark Tepper, the Companys President and Chief Scientific Officer, Barbara White, the Companys Chief Medical Officer and Sean Moran, the Companys Chief Financial Officer, respectively. In determining the amounts of the cash bonuses to be paid, the Compensation Committee considered that the Company did not pay performance-based cash bonuses for the fiscal year ended December 31, 2014.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
No definition available.