Allocation |
9 Months Ended | |
|---|---|---|
Sep. 30, 2017 | ||
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
| Disclosure of Compensation Related Costs, Share-based Payments [Text Block] |
Note 3 - Allocation
The expense allocations to Avenue, representing Lucy Lu's executive compensation, have been paid by Fortress and allocated by the Company between Avenue and Fortress based on time spent on Avenue projects versus time spent on Fortress projects. The allocations were based on assumptions that management believes are reasonable; however, these allocations are not necessarily indicative of the costs and expenses that would have resulted if Avenue had been operating as a stand-alone entity. For the three months ended September 30, 2017 and 2016, the allocated expenses related to Lucy Lu were approximately $0 and $70,000, respectively, and were recorded 50% to research and development and 50% to general and administration expenses. For the nine months ended September 30, 2017 and 2016, the allocated expenses related to Lucy Lu were approximately $0.2 million and $0.2 million, respectively, and were recorded 50% to research and development and 50% to general and administration expenses. Upon the IPO, Fortress and Avenue agreed to extinguish the total amount accrued under these expense allocations. Therefore, the Company recorded the $0.6 million related to the allocations of Lucy Lu’s compensation as a contribution of capital on the Company’s unaudited Condensed Balance Sheets as of September 30, 2017. |