Collaboration Arrangements

3 Months Ended

Mar. 31, 2016

Collaboration Arrangements

Collaboration Arrangements

11. Collaboration Arrangements

In May 2015, the Company entered into a research agreement with Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc., or Merck, to perform a trial to evaluate the preliminary safety and efficacy of niraparib plus KEYTRUDA® in patients with triple negative breast cancer and patients with ovarian cancer.  Under the terms of this agreement, the Company is responsible for providing niraparib study materials and for carrying out clinical research activities.  The Company and Merck share in the external costs of the study equally, with certain exceptions.  The Company records cost-sharing payments due from Merck as reductions of research and development expense.  During the three months ended March 31, 2016, the Company incurred $0.8 million in external costs related to this study, of which $0.4 million is reimbursable by Merck.  At March 31, 2016, $0.9 million of cost-sharing receivable from Merck has been recorded in accounts receivable in the condensed consolidated balance sheets.