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Long-Term Investments
9 Months Ended
Sep. 30, 2013
Long-Term Investments

Note 6. Long-Term Investments

In connection with the agreements to license the immunotherapy technologies to Aduro BioTech (“Aduro”) in 2009, the Company received preferred shares of Aduro. Pursuant to these license agreements, the Company is eligible to receive a 1% royalty fee on any future sales resulting from the licensed technology. As of September 2013, the Company’s ownership in Aduro was less than 3% on a fully diluted basis. The carrying value of the Company’s investment in Aduro is zero in its condensed consolidated balance sheets as of December 31, 2012 and September 30, 2013. As of September 30, 2013 the Company has not received any royalties under this agreement.