Subsequent Event

9 Months Ended

Sep. 30, 2015

Subsequent Event.

Subsequent Event

10. Subsequent Event

On October 28, 2015, the Company exercised its option to extend the term of the Second Bent Street Lease for one year to August 31, 2017. The annual rental payment due during this extension period will be based on the current fair market value for comparable space as agreed by the Company and BMR in accordance with the Second Bent Street Lease. The Company has an option to further extend the term of the Second Bent Street Lease for one additional, consecutive year at the then-current fair market value. In addition, the Company has two additional consecutive options to extend the term of the Second Bent Street Lease for five years each for the office and laboratory space located in the basement portion of the leased space at the then-current fair market value.