Accounts Payable & Other Current Liabilities

6 Months Ended

Jun. 30, 2016

Payables and Accruals [Abstract]

Accounts Payable & Other Current Liabilities

Accounts Payable & Other Current Liabilities

Accounts payable and other current liabilities consist of the following:

(in thousands)	JUNE 30, 2016		DECEMBER 31, 2015
Accounts payable	$	2,270	$	1,629
Accrued expenses and other liabilities:
Employee benefits and compensation related accruals(1)	2,347		3,085
General and administrative related accruals(2)	1,966		2,389
Research and development related accruals(3)	7,015		7,741
Accrued income taxes(4)	—		1,721
	$	13,598	$	16,565

(1) Comprised of accrued bonus, accrued vacation and other employee related expenses, 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, contract research organizations, contract manufacturing organizations and other service providers that assist in conducting preclinical research studies and clinical trials.

(4) Accrued income taxes were the result of the taxable gain associated with the IP Assignment that occurred in March 2015 and were paid in the three months ended March 2016.