Note 11—Subsequent Events

On May 10, 2017, the Company entered into a clinical trial collaboration and supply agreement with MSD International GmbH, a subsidiary of Merck & Co., Inc. (“Merck”) to clinically evaluate the combination of ImmunoPulse® IL-12 with Merck’s anti PD-1 therapy KEYTRUDA® (pembrolizumab). Under this agreement, the Company will sponsor and fund the Phase II multicenter study of ImmunoPulse® IL-12 in combination with KEYTRUDA® in patients with histological diagnosis of melanoma with progressive locally advanced or metastatic disease defined as Stage III or Stage IV, who are progressing or have progressed on an approved anti-PD-1 therapy. Merck will be responsible for manufacturing and supplying KEYTRUDA® for this study.