Deferred Offering Costs

6 Months Ended

Jun. 30, 2013

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Deferred Offering Costs

5. Deferred Offering Costs

Deferred offering costs represent legal, accounting and other direct costs related to the Company’s efforts to raise capital through an initial public offering of the Company’s common stock. These costs have been deferred through the completion of the initial public offering and on the closing date of July 1, 2013, will be reclassified to additional paid-in capital as a reduction of the proceeds. The Company recorded approximately $3.4 million and $1.8 million of deferred offering costs as a non-current asset in the accompanying balance sheets as of June 30, 2013 and December 31, 2012, respectively.