Ocera Therapeutics, Inc. - 10-Q filing on 2016-11-02

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Pursuant to the Company's "at the market" equity program, since September 30, 2016, the Company has sold an aggregate of 68,107 shares of common stock under the Sales Agreement at an average price of approximately $2.60 per share for gross proceeds of approximately $0.2 million. In September 2014, the Company entered into an asset license and purchase agreement for the sale and license of ulimorelin (the “Lyric Agreement”), the former lead compound of Tranzyme, to Lyric Pharmaceuticals, Inc. (“Lyric”). In October 2016, Lyric achieved a milestone under the Lyric Agreement, and accordingly, the Company will record $0.1 million in related milestone revenue during the fourth quarter of 2016. In October 2016, the Company assigned its rights to certain non-core intellectual property acquired in the Merger with Tranzyme to GE Healthcare Dharmacon, Inc. (“GE”), formerly known as Open Biosystems, Inc. In connection with the assignment, the Company’s existing license and marketing agreement with GE terminated and all future royalty payments payable from GE to the Company will cease. In consideration for the assignment, the Company will receive a one-time payment of $0.5 million from GE.