Related Party Transactions

9 Months Ended

Sep. 30, 2012

Related Party Transactions [Abstract]

Related Party Transactions

6. Related Party Transactions

On January 6, 2011, the Company entered into an Exclusive Channel Partner Agreement (the “Channel Agreement”) with Intrexon Corporation (see Note 7 for additional disclosure relating to the Channel Agreement). Our director, Randall J. Kirk, is the CEO, a director, and the largest stockholder of Intrexon. During the nine months ended September 30, 2012, the Company paid Intrexon approximately $11.4 million, of which $4.8 million was for services already incurred and the remaining $6.6 million expected to be incurred within a year. This amount has been included as part of prepaid expenses and other current assets on the accompanying balance sheet as of September 30, 2012. The Company does not owe any amounts to Intrexon that have not already been accrued for as of September 30, 2012.

On January 25, 2012, Intrexon purchased 1,923,075 shares of common stock in the Company’s public offering (see Note 9).

On November 7, 2012, subsequent to the balance sheet date, the Company issued 3,636,926 shares of common stock to Intrexon (see Note 1 – Subsequent Events).