Table of Contents
in many countries. Equivalent laws have been adopted in other foreign countries that impose similar obligations.
As of October 31, 2015, we had 18 full-time employees, five of whom hold Ph.D. or M.D. degrees, ten of whom are engaged in
research and development activities and eight of whom are engaged in business development, finance, information systems, facilities, human resources or administrative support. None of our employees is
party to a collective bargaining agreement. We consider our relationship with our employees to be good.
We lease a 4,795 square foot facility for our corporate headquarters in Chicago, Illinois that expires in December 2020. We also lease
a 2,418 square foot facility in Dallas, Texas for administrative activities that expires in April 2017. We believe that our existing facilities are adequate to meet our current needs, and that
suitable additional alternative spaces will be available in the future on commercially reasonable terms.
From time to time, we may be involved in various claims and legal proceedings relating to claims arising out of our operations. We are
not currently a party to any legal proceedings that, in the opinion of our management, are likely to have a material adverse effect on our business financial condition, results of operations and
prospects. Regardless of outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors.