Annual report pursuant to Section 13 and 15(d)

Related Party Transactions

v3.20.2
Related Party Transactions
12 Months Ended
Jul. 31, 2020
Related Party Transactions [Abstract]  
Related Party Transactions

Note 13—Related Party Transactions

 

On February 12, 2020, the Company entered into a consulting agreement with the spouse of the Company’s Chief Scientific Officer. The term of the agreement is four months and can be extended by written agreement. The agreement provides for an hourly based fee structure for assisting the Company with matters related to oncology and device development related to the Company’s platform. In addition to an hourly based fee structure, the consultant will be eligible to receive stock option awards. On June 12, 2020 the Company amended the consulting agreement, extending the term of the existing agreement until December 12, 2020. The consultant was paid consulting fees of approximately $0.1 million during the year ended July 31, 2020. In addition, the consultant was granted 30,000 non-qualified stock option valued at approximately $48,000 on the date of grant. The non-qualified stock options have a 10-year term, vest immediately and have an exercise prices of $1.56. As of July 31, 2020, the Company accrued consulting fees of approximately $0.1 million, under the consulting agreement and is included in accounts payable and accrued liabilities at July 31, 2020 in the accompanying consolidated balance sheets.