7. Business combination and BELBUCA  acquisition: On December 7, 2016, the Company and Endo entered into the Termination Agreement to terminate Endos licensing rights for BELBUCA  . The transaction closed on January 6, 2017. At the closing date, the Company purchased from Endo the following net assets (the net assets): (i) current BELBUCA  product inventory and work-in-progress, (ii) material manufacturing contracts related to BELBUCA  , (iii) BELBUCA  -related domain names and trademarks (including the BELBUCA  trademark), (iv) BELBUCA  -related manufacturing equipment, and (v) all pre-approval regulatory submissions, including any Investigational New Drug Applications and New Drug Applications, regulatory approvals and post-approval regulatory submissions concerning BELBUCA  . The purchase price for the net assets (the Asset Purchase Price) was equal to the sum of: (i) the aggregate book value of the portion of the transferred product inventory forecasted to be used or sold by the Company, (ii) the aggregate book value of work-in-progress inventory, and (iii) the assumption of any assumed liabilities. Together with the Asset Purchase Price, pursuant to the terms of the Termination Agreement, the Company will also pay to Endo a fee in the amount of $5 million in consideration for (i) Endos agreement not to compete for a period of two years from the closing date of the termination agreement and (ii) Endos waiver of its right to sell product for twelve months following the closing of the termination agreement. At the closing date, the Company accepted transfer of the net assets and assumed and agreed to discharge when due all applicable liabilities assumed by the Company, which consisted of post-closing obligations for liabilities and payments associated with the net assets, the assumed contracts related to the net assets and applicable taxes (with the obligation for pre-closing and other certain liabilities resulting from the acts or omissions of Endo being retained by Endo). The Asset Purchase Pri