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Accounts Payable & Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2015

Payables and Accruals [Abstract]

Summary of Accounts Payable and Other Current Liabilities

Accounts payable and other current liabilities consist of the following:



	DECEMBER 31,
(in thousands)	2015				2014
Accounts payable	$	1,629			$	2,068
Accrued expenses and other liabilities:
Employee benefits and compensation related accruals⁽¹⁾	3,085				2,257
General and administrative related accruals⁽²⁾	2,389				731
Research and development related accruals⁽³⁾	7,741				3,280
Accrued income taxes⁽⁴⁾	1,721				—
	$	16,565			$	8,336


(1)	Comprised of accrued bonus, accrued vacation, accrued severance liabilities and liabilities under the Company’s employee stock purchase plan.


(2)	Comprised of accruals such as outside professional fees and other business related expenses.


(3)	Comprised of accruals such as fees for investigative sites, CROs, contract manufacturing organizations and other service providers that assist in conducting preclinical and clinical trials.


(4)	Accrued income taxes are the result of the taxable gain from the IP Assignment. Refer to Note 9 for a description of the tax impact of the IP Assignment.