Deferred Revenue

12 Months Ended

Dec. 31, 2014

Deferred Revenue Disclosure [Abstract]

Deferred Revenue

8. Deferred revenue:

The Company receives upfront payments under various research and collaboration agreements. In assessing the appropriate revenue recognition related to a collaboration agreement, the Company first determines whether an arrangement includes multiple elements, such as the delivery of intellectual property rights and research and development services. Upfront payments are recorded as deferred revenue in the balance sheet and are recognized as collaboration revenue over the estimated period of the research commitment that is consistent with the terms of the research and development obligations contained in the collaboration agreement. The Company periodically reviews the estimated period of performance based on the progress made under each arrangement. The full amount as of December 31, 2014 of $11,779 is expected to be realized as revenue as follows:

Year ending December 31:
2015	$	11,622
2016		157
Deferred revenue	$	11,779