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SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2013
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

12.                               SUBSEQUENT EVENTS

 

On April 19, 2013, Ceregene, Inc., an early stage pharmaceutical development company in which the Company is an investor, announced that data from one of Ceregene’s Phase 2 clinical studies did not demonstrate statistically significant efficacy on the primary endpoint.  As a result, the Company believes that the fair value of this investment may be impaired when compared to its $3.2 million historical book value.  An updated analysis of fair value to determine impairment, if any, has not yet been performed, but will be performed during the second quarter of 2013.