Subsequent Events

3 Months Ended

Mar. 31, 2016

Subsequent Events

Subsequent Events

13. Subsequent Events

Construction Agreement

In April 2016, the Company’s subsidiary entered into a construction agreement for leasehold improvements at an estimated cost of $6.5 million for the Austin, Texas property.  The leasehold improvements include office and laboratory space which is anticipated to be substantially completed in August 2016. The estimated cost of the leasehold improvements of $6.5 million are within the contracted leasehold improvement allowance of $7.8 million.

Insurance Company Agreement

In April 2016, the Company entered into an agreement with an insurance company to provide the Company’s testing services as an in-network service provider.  The agreement contains a provision whereby the Company has agreed to pay the insurance company $3.2 million in exchange for partial exclusivity as an in-network provider.