Collaboration Agreements

6 Months Ended

Jun. 30, 2015

Collaboration Agreements

Collaboration Agreement with Related Party

Collaboration Agreement with Related Party

The Company and Intrexon are parties to an exclusive channel collaboration agreement, as amended. Randal J. Kirk is the chairman of the board and chief executive officer of Intrexon and, together with his affiliates, owns more than 50% of Intrexon's common stock. Affiliates of Randal J. Kirk also collectively own more than 35% of our common stock. Our directors, Marcus Smith and Julian Kirk (who is the son of Randal J. Kirk), are employees of Third Security, LLC, which is an affiliate of Randal J. Kirk.

For the three months ended June 30, 2015 and 2014, the Company incurred expenses of $1.1 million and $0.7 million, respectively, for work performed under the Company's exclusive channel collaboration agreement, as amended, with Intrexon. 

For the six months ended June 30, 2015 and 2014, the Company incurred expenses of $2.9 million and $1.8 million, respectively, for work performed under the Company's exclusive channel collaboration agreement, as amended, with Intrexon. As of June 30, 2015 and December 31, 2014, the Company had outstanding payables to Intrexon of $0.7 million and $1.0 million, respectively.