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908259_14_item7_p16_s3 | 908259_13_item7_p13_s10 | We recognized approximately $148,000 of product revenues in 2012, after delivery of our drug for compassionate use to Azanta and the 30 day inspection period had expired at which point the drug was deemed accepted. | In both years, we recognized product revenues after delivery of ZYBRESTAT for compassionate use to the distributor and the 30 day inspection period had expired at which point the drug was deemed accepted. | 2 | [
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908259_14_item7_p16_s4 | 908259_13_item7_p13_s11 | Additionally, we recognized approximately $8,000 as payment for 20% of Azanta s gross margin, as defined in the agreement, on its sales in the preceding quarter, in 2012, after Azanta notified us of the amount. | Additionally, in 2012, we recognized approximately $8,000 as revenue for 20% of the distributor s gross margin, as defined in the agreement, on its sales in the preceding quarter, after the distributor notified us of the amount. | 2 | [
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908259_14_item7_p16_s5 | 908259_13_item7_p13_s12 | In 2013, we expect approximately the same levels of revenue as 2012, although there can be no assurance of this and at this time, we have no future firm orders from Azanta. | In 2014, we expect approximately the same range of revenue as 2013 and 2012, although there can be no assurance of this and at this time, we have no future firm orders from the distributor. | 2 | [
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908259_14_item7_p17_s0 | 908259_13_item7_p13_s13 | Our drug was expensed in the period it was manufactured, since it is in the development stage and does not have an alternative future use. | ZYBRESTAT is expensed in the period it is manufactured because it is in the development stage and does not have an alternative future use. | 2 | [
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908259_14_item7_p17_s1 | 908259_13_item7_p13_s14 | As a result, the product provided to Azanta had a zero cost basis, and therefore there is no cost-of-goods sold. | As a result, the product provided to the distributor had a zero cost basis, and therefore there is no cost-of-goods sold. | 2 | [
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908259_14_item7_p13_s2 | 908259_13_item7_p13_s2 | If Azanta does not notify us of any defective product within the 30-day period it will be deemed to have accepted the product. | If the distributor does not notify us of any defective product within the 30-day period it will be deemed to have accepted the product. | 2 | [
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908259_14_item7_p13_s5 | 908259_13_item7_p13_s5 | This revenue will be recognized upon notification from Azanta of the gross margin earned. | This revenue will be recognized upon notification from the distributor of the gross margin earned. | 2 | [
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908259_14_item7_p13_s7 | 908259_13_item7_p13_s7 | As a result, the product provided to the Azanta has a zero cost basis, and therefore there is no cost-of-goods sold. | As a result, the product provided to the distributor has a zero cost basis, and therefore no cost-of-goods sold has been recorded. | 2 | [
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908259_18_item7_p14_s0 | 908259_17_item7_p13_s6 | We measure liquidity by the cash and other capital we have available to fund our operations, which are primarily focused on the advancement of our VDAs. | LIQUIDITY AND CAPITAL RESOURCES We measure liquidity by the cash and other capital we have available to fund our operations, which are primarily focused on the development of our drug candidates. | 2 | [
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908259_18_item7_p6_s7 | 908259_17_item7_p6_s0 | on actual time and expenses incurred by the CRO and the clinical investigators. | These estimates are based on actual time and expenses incurred by the CRO and the clinical investigators. | 2 | [
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908259_18_item7_p12_s0 | 908259_17_item7_p9_s4 | RESULTS OF OPERATIONS Years ended December 31, 2016 and 2015 Research and Development expenses The table below summarizes the most significant components of our research and development expenses for the periods indicated and provides the amount and percentage change in these components (in thousands): | General and administrative expenses The table below summarizes the most significant components of our general and administrative expenses for the periods indicated and the amount and percentage change in these components (in thousands): | 2 | [
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