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Q3
2015
2015-09-30
10-Q
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33
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1
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">7) Other Accrued Liabilities</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Other accrued liabilities as of September 30, 2015 and December 31, 2014 consisted of the following (in thousands):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 86.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:65.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">September 30,</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">December 31,</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Compensation and benefits</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,605
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,852
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Professional fees</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,344
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,285
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Other</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,098
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,040
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,047
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,177
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:12.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:12.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
0.03
0.03
4992000
12700000
P10D
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Other accrued liabilities as of September 30, 2015 and December 31, 2014 consisted of the following (in thousands):</font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 86.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:65.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">September 30,</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">December 31,</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Compensation and benefits</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,605
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,852
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Professional fees</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,344
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,285
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Other</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,098
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,040
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,047
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,177
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:12.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:12.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Stock-based compensation expense during the three months and nine months ended September 30, 2015 and 2014 was as follows (in thousands):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:41.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="5" valign="bottom" style="width:26.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended September 30,</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="5" valign="bottom" style="width:26.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Nine Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended September 30,</font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="bottom" style="width:41.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Stock-based compensation expense by type of award:</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Employee stock options</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,048
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,486
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,601
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,486
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Restricted stock</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>120
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>80
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>120
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>179
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Total stock-based compensation expense</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,168
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,566
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,721
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,665
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Effect of stock-based compensation expense by line item:</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Research and development</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>683
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,066
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,548
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,329
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">General and administrative</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>485
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>500
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,173
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,336
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Total stock-based compensation expense included in net loss</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,168
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,566
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,721
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,665
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
1300000
0.05
4.05
2.19
3139000
1424000
1285000
1344000
20483000
20986000
4000
11000
702694000
756053000
5665000
5486000
2336000
3329000
179000
1566000
1486000
500000
1066000
80000
3721000
3601000
1173000
2548000
120000
1168000
1048000
485000
683000
120000
8262468
529272
9587239
452556
100675000
91014000
99346000
90227000
51662000
51666000
42704000
42715000
12000
13000
8000
2000
51666000
42715000
42000
43000
43000
11000
48490000
68478000
46024000
45537000
46024000
46024000
45004000
1020000
45004000
1020000
45537000
45537000
42038000
3499000
42038000
3499000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Cash and Cash Equivalents</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The Company considers all highly liquid investments with original maturities of three months or less at the date of purchase and an investment in a money market fund to be cash equivalents. Changes in the level of cash and cash equivalents may be affected by changes in investment portfolio maturities, as well as actual cash disbursements to fund operations.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The primary objective of the Company’s investment activities is to preserve its capital for the purpose of funding operations and the Company does not enter into investments for trading or speculative purposes. The Company’s cash is deposited in a highly rated financial institution in the United States. The Company invests in money market funds and high-grade, short-term commercial paper and corporate bonds, which management believes are subject to minimal credit and market risk. Declines in interest rates, however, would reduce future investment income.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:3.3pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">(3) Cash, Cash Equivalents and Marketable Securities</font>
</p>
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">A summary of cash, cash equivalents and available-for-sale marketable securities held by the Company as of September 30, 2015 and December 31, 2014 was as follows in thousands (see Note 2):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:49.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="11" valign="bottom" style="width:47.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, 2015</font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="bottom" style="width:49.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Cost</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Unrealized</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">gains</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Unrealized</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">losses</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Fair</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">value</font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Cash and cash equivalents:</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Cash and money market funds (Level 1)</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,038
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,038
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Corporate debt securities due within 3 months of date of purchase (Level 2)</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,499
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,499
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Total cash and cash equivalents</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,537
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,537
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Marketable securities:</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Corporate debt securities due within 1 year of date of purchase (Level 2)</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,704
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2
</td>
<td valign="bottom" style="width:02.50%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,715
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Total cash, cash equivalents and marketable securities</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>88,241
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>88,252
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:08.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:49.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="11" valign="bottom" style="width:47.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">December 31, 2014</font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="bottom" style="width:49.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Cost</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Unrealized</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">gains</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Unrealized</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">losses</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Fair</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">value</font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Cash and cash equivalents:</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Cash and money market funds (Level 1)</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,004
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,004
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Corporate debt securities due within 3 months of date of purchase (Level 2)</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,020
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,020
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Total cash and cash equivalents</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,024
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,024
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Marketable securities:</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Corporate debt securities due within 1 year of date of purchase (Level 2)</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>51,662
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(8
</td>
<td valign="bottom" style="width:02.50%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>51,666
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Total cash, cash equivalents and marketable securities</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>97,686
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(8
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>97,690
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
97686000
97690000
88241000
88252000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">(8) Co-Development and License Agreements</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-style:italic;">Co-Development Agreement</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">In July 2011, the Company entered into a co-development agreement with a clinical research organization (CRO) for the conduct of certain company-sponsored clinical trials. Under the co-development agreement, this CRO was performing clinical research services under a reduced fee structure in exchange for a share of licensing payments and commercial revenues, if any, resulting from the product under development up to a specified maximum payment, which is defined as a multiple of the fee reduction realized. Research and development expenses were being recognized based on the reduced fee structure and expected payments will be recorded in the future if and when payment is probable. The maximum amount of the service fee discount was realized in the year ended December 31, 2013.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-style:italic;">License Arrangement</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">In May 2014, the Company entered into a license arrangement for its CRACM program, including two lead candidates and the associated intellectual property portfolio, with PRCL Research Inc. (PRCL), a company funded by TVM Life Science Venture VII and the Fonds de Solidarité des Travailleurs du Québec, based in Montreal, Canada. PRCL plans to develop one of the two lead candidates licensed from the Company to proof-of-concept. Synta was granted a minority interest in PRCL in exchange for its contribution of know-how and intellectual property and will also hold a seat on PRCL’s Board of Directors. Synta will not be required to provide any research funding or capital contributions to PRCL. Synta will be reimbursed by PRCL for any ongoing intellectual property management costs in connection with the contributed intellectual property and may conduct preclinical research activities which would be reimbursed by PRCL. If and when proof-of-concept is reached with either drug candidate, Eli Lilly and Company, which is an investor in TVM, will manage the development program through one of its divisions and will have an option to acquire PRCL or its assets at the then fair value.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
0.0001
0.0001
200000000
200000000
109120670
137788584
109120670
137788584
11000
14000
-65815000
-19958000
-58128000
-17611000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Comprehensive Loss</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Comprehensive loss is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Changes in unrealized gains and losses on marketable securities represent the only difference between the Company’s net loss and comprehensive loss.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Principles of Consolidation</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The condensed consolidated financial statements include the financial statements of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">(9) Term Loans</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-style:italic;">General Electric Capital Corporation</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">In March 2013, the Company amended its loan and security agreement entered into in September 2010 with General Electric Capital Corporation (GECC) and another lender (the GECC Term Loan) and obtained $12.9 million in additional loan funding and, as a result, increased the principal balance to $22.5 million at March 31, 2013. This amendment was accounted for as a loan modification. Interest on the borrowings under the GECC Term Loan remains at the annual rate of 9.75%. In January 2014, the Company began making 30 equal monthly payments of principal plus accrued interest on the outstanding balance. During the period from July 2012 through March 2013, the Company made nine equal monthly payments of principal under the GECC Term Loan. For the periods from April 2013 through December 2013 and prior to July 2012 the Company made interest-only payments.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The Company has paid various transaction fees and expenses in connection with the GECC Term Loan, which are deferred and are being amortized as interest expense over the remaining term of the GECC Term Loan. In addition, the Company is obligated to pay an exit fee of $788,000 at the time of the final principal payment which is being accreted and expensed as interest over the remaining term of the GECC Term Loan. In the three months ended September 30, 2015 and 2014, the Company recognized GECC Term Loan interest expense of $0.2 million and $0.5 million, respectively, of which $0.1 million was in connection with these transaction and exit fees and expenses in each of the quarters. In the nine months ended September 30, 2015 and 2014, the Company recognized GECC Term Loan interest expense of $0.9 million and $1.7 million, respectively, of which $0.2 million and $0.3 million, respectively, was in connection with these transaction and exit fees and expenses. The Company may prepay the full amount of the GECC Term Loan, subject to prepayment premiums under certain circumstances. The Company did not issue any warrants in connection with the GECC Term Loan.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The GECC Term Loan is secured by substantially all of the Company’s assets, except its intellectual property. The Company has granted GECC a springing security interest in its intellectual property in the event the Company is not in compliance with certain cash usage covenants, as defined therein. The GECC Term Loan contains restrictive covenants, including the requirement for the Company to receive the prior written consent of GECC to enter into loans, other than up to $4.0 million of equipment financing, restrictions on the declaration or payment of dividends, restrictions on acquisitions, and customary default provisions that include material adverse events, as defined therein. The Company has determined that the risk of subjective acceleration under the material adverse events clause is remote and therefore has classified the outstanding principal based on the timing of scheduled principal payments.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-style:italic;">Oxford Finance Corporation</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">In March 2011, the Company entered into a loan and security agreement with Oxford Finance Corporation (Oxford) and received $2.0 million in loan funding, and in December 2012, the Company entered into a loan modification agreement, as amended, under which the Company could elect to draw down up to an additional $0.6 million in equipment financing until June 30, 2013 that would be payable in 36 equal monthly payments of principal plus accrued interest on the outstanding balance (collectively, the Oxford Term Loan). As of June 30, 2013, the Company had fully utilized the $0.6 million in additional equipment financing. Interest on the borrowings under the Oxford Term Loan accrues at an annual rate of 13.35%. In May 2011, the Company began making 36 equal monthly payments of principal plus accrued interest on the initial $2.0 million outstanding balance that was fully paid in April 2014. The Company continues to make equal monthly payments of principal plus accrued interest on the $0.6 million in additional equipment financing. The Company recognized approximately $10,000 and $13,000 in interest expense in the three months ended September 30, 2015 and 2014, respectively, and $34,000 and $48,000 in interest expense in the nine months ended September 30, 2015 and 2014, respectively, related to the outstanding principal under the Oxford Term Loan. In addition to the interest payable under the Oxford Term Loan, the Company paid approximately $108,000 of administrative and legal fees and expenses in connection with the Oxford Term Loan. These expenses have been deferred and are being expensed over the term of the Oxford Term Loan. The Company did not issue any warrants in connection with the Oxford Term Loan. The Company may prepay the Oxford Term Loan, subject to prepayment premiums under certain circumstances. Oxford has the right to require the Company to prepay the Oxford Term Loan if the Company prepays the full amount of the GECC Term Loan under certain circumstances.</font>
</p>
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The Oxford Term Loan is secured by certain laboratory and office equipment, furniture and fixtures. In connection with the Oxford Term Loan, Oxford and GECC entered into a Lien Subordination Agreement, whereby GECC granted Oxford a first priority perfected security interest in the loan collateral. The Oxford Term Loan contains restrictive covenants, including the requirement for the Company to receive the prior written consent of Oxford to enter into acquisitions in which the Company incurs more than $2.0 million of related indebtedness, and customary default provisions that include material adverse events, as defined therein. The Company has determined that the risk of subjective acceleration under the material adverse events clause is remote and therefore has classified the outstanding principal in current and long-term liabilities based on the timing of scheduled principal payments.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Future principal payments under the GECC and Oxford Term Loans as of September 30, 2015 were approximately as follows (in thousands):</font>
</p>
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 90.00%;margin-left:0pt;">
<tr>
<td valign="top" style="width:82.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Years ending December 31,</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.34%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:82.78%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">2015</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.08%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,306
</td>
<td valign="bottom" style="width:01.10%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:82.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">2016</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.34%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,607
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:82.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:82.78%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Total principal payments</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.34%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,913
</td>
<td valign="bottom" style="width:01.10%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:82.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Less current portion</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.34%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,913
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:82.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:82.78%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Long term portion</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.08%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:01.10%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:82.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:12.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
0.0975
0.1335
108000
504000
200000
503000
200000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">(6) Stock-Based Compensation</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The Company’s 2006 Stock Plan provided for the grant of incentive stock options, non-statutory stock options and non-vested restricted stock to employees, officers, directors and consultants of the Company. In January 2015, the number of shares of common stock reserved for issuance under the 2006 Stock Plan was increased from 10,300,000 to 11,600,000 pursuant to an “evergreen” provision, which provides for an annual increase based on the lesser of 1,300,000 shares, 5% of the Company’s then outstanding shares of common stock, or such other amount as the board of directors may determine. This increase was approved by the board of directors in December 2014. In June 2015, upon obtaining stockholder approval at its annual shareholder meeting, the Company implemented its new 2015 Stock Plan and reserved 8,741,000 shares of common stock for future issuance. In June 2015, the Company terminated its 2006 Stock Plan. The administration of these stock plans is under the general supervision of the compensation committee of the board of directors. The exercise price of the stock options is determined by the compensation committee of the board of directors, provided that incentive stock options are granted with an exercise price not less than fair market value of the common stock on the date of grant and expire no later than ten years from the date the option is granted. Options generally vest over four years. As of September 30, 2015, the Company had options outstanding to purchase 9,587,239 shares of its common stock, which includes options outstanding under its 2001 Stock Plan and 2006 Stock Plan that were terminated in March 2006 and June 2015, respectively. As of September 30, 2015, 8,608,133 shares were available for future issuance.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:52.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The following table summarizes stock option activity during the nine months ended September 30, 2015:</font>
</p>
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 86.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:62.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Shares</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Weighted average</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">exercise price</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">per share</font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Outstanding at January 1, 2015</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,829,343
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:15.70%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6.17
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.22%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Options granted</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,102,486
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.31
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Options exercised</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.22%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Options cancelled</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,344,590
</td>
<td valign="bottom" style="width:02.88%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.49
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Outstanding at September 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,587,239
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:15.70%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.08
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.22%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Exercisable at September 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,523,040
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:15.70%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6.31
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:28.6pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The total cash received by the Company as a result of stock option exercises during the nine months ended September 30, 2015 and 2014 was $0 and $0.8 million, respectively. The weighted-average grant date fair values of options granted during the three months ended September 30, 2015 and 2014 were $1.34 and $3.26, respectively, and during the nine months ended September 30, 2015 and 2014 were $1.79 and $4.44, respectively.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Non-Vested (“Restricted”) Stock Awards with Service Conditions</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The Company’s share-based compensation plans provide for awards of restricted shares of common stock to employees, officers, directors and consultants to the Company. Restricted stock awards are subject to forfeiture if employment or service terminates during the prescribed retention period. Restricted shares vest over the service period. The total fair value of restricted stock that vested in each of the nine months ended September 30, 2015 and 2014 was $0.1 million.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The following table summarizes unvested restricted share activity during the nine months ended September 30, 2015:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 86.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:65.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Shares</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Weighted</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">average</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">grant date</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">fair value</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">per share</font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Outstanding at January 1, 2015</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>744,514
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.65
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Vested</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(45,361
</td>
<td valign="bottom" style="width:02.88%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.02
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Granted</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>253,403
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.32
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Forfeited</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(500,000
</td>
<td valign="bottom" style="width:02.88%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.00
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Outstanding at September 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>452,556
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.59
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:12.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Stock-Based Compensation Expense</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:31.9pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">For the three months and nine months ended September 30, 2015 and 2014, the fair value of each employee stock option award was estimated on the date of grant based on the fair value method using the Black-Scholes option pricing valuation model with the following weighted average assumptions:</font>
</p>
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:41.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="3" valign="bottom" style="width:26.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended September 30,</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="3" valign="bottom" style="width:26.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Nine Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended September 30,</font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="bottom" style="width:41.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Risk-free interest rate</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.83
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">%</font></p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.96
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">%</font></p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.81
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">%</font></p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.88
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">%</font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Expected life in years</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6.25
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6.25
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6.24
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6.25
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Volatility</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>72
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">%</font></p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>104
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">%</font></p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>95
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">%</font></p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>104
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">%</font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Expected dividend yield</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Stock-based compensation expense during the three months and nine months ended September 30, 2015 and 2014 was as follows (in thousands):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:41.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="5" valign="bottom" style="width:26.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended September 30,</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="5" valign="bottom" style="width:26.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Nine Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended September 30,</font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="bottom" style="width:41.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Stock-based compensation expense by type of award:</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Employee stock options</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,048
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,486
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,601
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,486
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Restricted stock</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>120
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>80
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>120
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>179
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Total stock-based compensation expense</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,168
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,566
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,721
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,665
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Effect of stock-based compensation expense by line item:</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Research and development</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>683
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,066
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,548
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,329
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">General and administrative</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>485
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>500
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,173
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,336
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Total stock-based compensation expense included in net loss</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,168
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,566
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,721
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:10.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,665
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:10.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:36.3pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Unrecognized stock-based compensation expense as of September 30, 2015 was as follows (dollars in thousands):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 86.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:65.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Unrecognized</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">stock</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">compensation</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">expense</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Weighted</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">average</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">remaining</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">period</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">(in years)</font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Stock options</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,687
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.60
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Restricted stock</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,013
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.11
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:13.84%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Total</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,700
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.55
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:12.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:13.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
-0.69
-0.19
-0.46
-0.13
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Basic and Diluted Loss Per Common Share</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Basic net loss per share is computed using the weighted average number of common shares outstanding during the period, excluding restricted stock that has been issued but is not yet vested. Diluted net loss per common share is computed using the weighted average number of common shares outstanding and the weighted average dilutive potential common shares outstanding using the treasury stock method. However, for the three months and nine months ended September 30, 2015 and 2014, diluted net loss per share is the same as basic net loss per share as the inclusion of weighted average shares of unvested restricted common stock and common stock issuable upon the exercise of stock options would be anti-dilutive.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The following table summarizes outstanding securities not included in the computation of diluted net loss per common share as their inclusion would be anti-dilutive:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 90.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:66.66%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="3" valign="bottom" style="width:29.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">September 30,</font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="bottom" style="width:66.66%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:66.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Common stock options</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.34%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,587,239
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.34%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,262,468
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:66.66%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Unvested restricted common stock</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.34%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>452,556
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.34%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>529,272
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
3852000
2605000
800000
0
9700000
8687000
1013000
P2Y6M18D
P2Y7M6D
P2Y1M10D
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Fair Value of Financial Instruments</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The carrying amounts of the Company’s financial instruments, which include cash equivalents, marketable securities and term loan obligations, approximate their fair values. The fair value of the Company’s financial instruments reflects the amounts that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy has the following three levels:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Level 1—quoted prices in active markets for identical assets and liabilities.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Level 2—observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Level 3—unobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Financial assets and liabilities are classified in their entirety within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement. The Company measures the fair value of its marketable securities by taking into consideration valuations obtained from third-party pricing sources. The pricing services utilize industry standard valuation models, including both income and market based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs include reported trades of and broker-dealer quotes on the same or similar securities, issuer credit spreads, benchmark securities and other observable inputs. As of September 30, 2015, the Company’s financial assets valued based on Level 1 inputs consisted of cash and cash equivalents in a money market fund and its financial assets valued based on Level 2 inputs consisted of high-grade corporate bonds and commercial paper. During the three months and nine months ended September 30, 2015 and 2014, the Company did not have any transfers of financials assets between Levels 1 and 2. As of September 30, 2015, the Company did not have any financial liabilities that were recorded at fair value on the balance sheet. The disclosed fair value of the Company’s term loan obligations is determined using current applicable rates for similar instruments as of the balance sheet date. The carrying value of the Company’s term loan obligations approximates fair value as the Company’s interest rate yield is near current market rate yields. The disclosed fair value of the Company’s term loan obligations is based on Level 3 inputs.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
11505000
3241000
10258000
2981000
-2147000
-1715000
-724000
-1130000
-85000
-79000
1153000
319000
1700000
48000
500000
13000
900000
34000
200000
10000
-1752000
-517000
-905000
-234000
1498000
805000
35539000
30644000
100675000
91014000
30889000
30633000
4650000
11000
2306000
4607000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Marketable Securities</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Marketable securities consist of investments in high-grade corporate obligations, and government and government agency obligations that are classified as available-for-sale. Since these securities are available to fund current operations they are classified as current assets on the consolidated balance sheets.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The Company adjusts the cost of available-for-sale debt securities for amortization of premiums and accretion of discounts to maturity. The Company includes such amortization and accretion as a component of interest expense, net. Realized gains and losses and declines in value, if any, that the Company judges to be other-than-temporary on available-for-sale securities are reported as a component of interest expense, net. To determine whether an other-than-temporary impairment exists, the Company considers whether it intends to sell the debt security and, if the Company does not intend to sell the debt security, it considers available evidence to assess whether it is more likely than not that it will be required to sell the security before the recovery of its amortized cost basis. During the three months and nine months ended September 30, 2015 and 2014, the Company determined it did not have any securities that were other-than-temporarily impaired.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Marketable securities are stated at fair value, including accrued interest, with their unrealized gains and losses included as a component of accumulated other comprehensive income or loss, which is a separate component of stockholders’ equity. The fair value of these securities is based on quoted prices and observable inputs on a recurring basis. Realized gains and losses are determined on the specific identification method. During the three months and nine months ended September 30, 2015 and 2014, the Company did not have any realized gains or losses on marketable securities.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">(1) Nature of Business</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Synta Pharmaceuticals Corp. (the Company) was incorporated in March 2000 and commenced operations in July 2001. The Company is an innovative, agile biopharmaceutical company focused on research, development and commercialization of novel oncology medicines that have the potential to change the lives of cancer patients.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The Company is subject to risks common to emerging companies in the drug development and pharmaceutical industry including, but not limited to, uncertainty of product development and commercialization, lack of marketing and sales history, dependence on key personnel, uncertainty of market acceptance of products and product reimbursement, product liability, uncertain protection of proprietary technology, potential inability to raise additional financing and compliance with the U.S. Food and Drug Administration and other government regulations.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The Company may require significant additional funds earlier than it currently expects in order to conduct additional clinical trials and continue to fund its operations. There can be no assurances, however, that additional funding will be available on favorable terms, or at all. If adequate funds are not available, the Company may be required to delay, significantly modify or terminate its research and development programs or reduce its planned commercialization efforts.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
19988000
-487000
87605000
42702000
-7907000
8918000
-59710000
-52107000
-65809000
-19966000
-58135000
-17628000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Recent Accounting Pronouncements</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">In May 2014, the FASB issued ASU No. 2014-09, —</font><font style="display:inline;font-style:italic;">Revenue from Contracts with Customers</font><font style="display:inline;"> (Topic 606), which amends the guidance for accounting for revenue from contracts with customers. This ASU supersedes the revenue recognition requirements in ASC Topic 605, and creates a new Topic 606,</font><font style="display:inline;font-style:italic;"> Revenue from Contracts with Customers</font><font style="display:inline;"> . This guidance was originally effective for fiscal years beginning after December 15, 2016, with early adoption not permitted. Two adoption methods are permitted: retrospectively to all prior reporting periods presented, with certain practical expedients permitted; or retrospectively with the cumulative effect of initially adopting the ASU recognized at the date of initial application. The FASB approved a one year deferral of the effective date of this standard to annual periods beginning after December 15, 2017, along with an option to permit companies to early adopt the standard for annual periods beginning after December 15, 2016. The Company has not yet determined the date it plans to adopt ASU No. 2014-09, which adoption method it will utilize, or the effect that the adoption of this guidance will have on its consolidated financial statements.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">In August 2014, the FASB issued ASU No. 2014-15, —</font><font style="display:inline;font-style:italic;">Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern</font><font style="display:inline;">. This ASU is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern within one year of the date of issuance of the entity’s financial statements and to provide related footnote disclosures. This guidance is effective for fiscal years ending after December 15, 2016, with early application permitted. The Company has not yet determined the effect that the adoption of this guidance will have on the disclosures included in its consolidated financial statements.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
64057000
19449000
57230000
17394000
-64057000
-19449000
-57230000
-17394000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">(2) Summary of Significant Accounting Policies</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:19.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The accompanying condensed consolidated financial statements are unaudited, have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments necessary to present fairly the Company’s financial position as of September 30, 2015 and the consolidated results of operations, comprehensive loss and cash flows for the three months and nine months ended September 30, 2015 and 2014. The preparation of financial statements in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. The results of operations for the three months and nine months ended September 30, 2015 are not necessarily indicative of the results to be expected for the year ending December 31, 2015 or for any other interim period or any other future year. For more complete financial information, these condensed financial statements, and the notes hereto, should be read in conjunction with the audited financial statements for the year ended December 31, 2014 included in the Company’s Annual Report on Form 10-K.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Principles of Consolidation</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The condensed consolidated financial statements include the financial statements of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Use of Estimates</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant items subject to such estimates and assumptions include contract research accruals, recoverability of long-lived assets, measurement of stock-based compensation, and the periods of performance under collaborative research and development agreements. The Company bases its estimates on historical experience and various other assumptions that management believes to be reasonable under the circumstances. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Cash and Cash Equivalents</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The Company considers all highly liquid investments with original maturities of three months or less at the date of purchase and an investment in a money market fund to be cash equivalents. Changes in the level of cash and cash equivalents may be affected by changes in investment portfolio maturities, as well as actual cash disbursements to fund operations.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The primary objective of the Company’s investment activities is to preserve its capital for the purpose of funding operations and the Company does not enter into investments for trading or speculative purposes. The Company’s cash is deposited in a highly rated financial institution in the United States. The Company invests in money market funds and high-grade, short-term commercial paper and corporate bonds, which management believes are subject to minimal credit and market risk. Declines in interest rates, however, would reduce future investment income.</font>
</p>
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Marketable Securities</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Marketable securities consist of investments in high-grade corporate obligations, and government and government agency obligations that are classified as available-for-sale. Since these securities are available to fund current operations they are classified as current assets on the consolidated balance sheets.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The Company adjusts the cost of available-for-sale debt securities for amortization of premiums and accretion of discounts to maturity. The Company includes such amortization and accretion as a component of interest expense, net. Realized gains and losses and declines in value, if any, that the Company judges to be other-than-temporary on available-for-sale securities are reported as a component of interest expense, net. To determine whether an other-than-temporary impairment exists, the Company considers whether it intends to sell the debt security and, if the Company does not intend to sell the debt security, it considers available evidence to assess whether it is more likely than not that it will be required to sell the security before the recovery of its amortized cost basis. During the three months and nine months ended September 30, 2015 and 2014, the Company determined it did not have any securities that were other-than-temporarily impaired.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Marketable securities are stated at fair value, including accrued interest, with their unrealized gains and losses included as a component of accumulated other comprehensive income or loss, which is a separate component of stockholders’ equity. The fair value of these securities is based on quoted prices and observable inputs on a recurring basis. Realized gains and losses are determined on the specific identification method. During the three months and nine months ended September 30, 2015 and 2014, the Company did not have any realized gains or losses on marketable securities.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Fair Value of Financial Instruments</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The carrying amounts of the Company’s financial instruments, which include cash equivalents, marketable securities and term loan obligations, approximate their fair values. The fair value of the Company’s financial instruments reflects the amounts that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy has the following three levels:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Level 1—quoted prices in active markets for identical assets and liabilities.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Level 2—observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Level 3—unobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Financial assets and liabilities are classified in their entirety within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement. The Company measures the fair value of its marketable securities by taking into consideration valuations obtained from third-party pricing sources. The pricing services utilize industry standard valuation models, including both income and market based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs include reported trades of and broker-dealer quotes on the same or similar securities, issuer credit spreads, benchmark securities and other observable inputs. As of September 30, 2015, the Company’s financial assets valued based on Level 1 inputs consisted of cash and cash equivalents in a money market fund and its financial assets valued based on Level 2 inputs consisted of high-grade corporate bonds and commercial paper. During the three months and nine months ended September 30, 2015 and 2014, the Company did not have any transfers of financials assets between Levels 1 and 2. As of September 30, 2015, the Company did not have any financial liabilities that were recorded at fair value on the balance sheet. The disclosed fair value of the Company’s term loan obligations is determined using current applicable rates for similar instruments as of the balance sheet date. The carrying value of the Company’s term loan obligations approximates fair value as the Company’s interest rate yield is near current market rate yields. The disclosed fair value of the Company’s term loan obligations is based on Level 3 inputs.</font>
</p>
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Revenue Recognition</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-style:italic;">Collaboration and License Agreements</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The Company’s principal source of revenue to date has been its former collaboration and license agreements, which included upfront license payments, development milestones, reimbursement of research and development costs, potential profit sharing payments, commercial and sales-based milestones and royalties. The accounting for collaboration and license agreements requires subjective analysis and requires management to make estimates and assumptions about whether deliverables within multiple-element arrangements are separable from the other aspects of the contractual arrangement into separate units of accounting and to determine the arrangement consideration to be allocated to each unit of accounting.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">For multiple-element arrangements entered into or materially modified after January 1, 2011, the Company follows the provisions of Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2009-13—</font><font style="display:inline;font-style:italic;"> Multiple-deliverable Revenue Arrangements</font><font style="display:inline;"> (ASU No. 2009-13). ASU No. 2009-13 amended certain provisions of Accounting Standards Codification (ASC) Topic 605—</font><font style="display:inline;font-style:italic;"> Revenue Recognition</font><font style="display:inline;"> . This standard addresses the determination of the unit(s) of accounting for multiple-element arrangements and how an arrangement’s consideration should be allocated to each unit of accounting.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Pursuant to this standard, each required deliverable is evaluated to determine if it qualifies as a separate unit of accounting. For the Company this determination includes an assessment as to whether the deliverable has “stand-alone value” to the customer separate from the undelivered elements. The arrangement’s consideration is then allocated to each separate unit of accounting based on the relative selling price of each deliverable. The estimated selling price of each deliverable is determined using the following hierarchy of values: (i) vendor-specific objective evidence of fair value, (ii) third-party evidence of selling price, or (iii) the Company’s best estimate of the selling price (BESP). The BESP reflects the Company’s best estimate of what the selling price would be if the deliverable was regularly sold by it on a stand-alone basis. The Company expects, in general, to use BESP for allocating consideration to each deliverable in future collaboration agreements. In general, the consideration allocated to each unit of accounting is then recognized as the related goods or services are delivered limited to the consideration not contingent upon future deliverables. The Company did not recognize any revenue related to collaboration and license agreements during the three months and nine months ended September 30, 2015 and 2014.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The Company accounts for development milestones under collaboration and license agreements pursuant to ASU No. 2010-17</font><font style="display:inline;font-style:italic;"> Milestone Method of Revenue Recognition</font><font style="display:inline;"> (ASU No. 2010-17). ASU No. 2010-17 codified a method of revenue recognition that has been common practice. Under this method, contingent consideration from research and development activities that is earned upon the achievement of a substantive milestone is recognized in its entirety in the period in which the milestone is achieved. At the inception of each arrangement that includes milestone payments, the Company evaluates whether each milestone is substantive. This evaluation includes an assessment of whether (a) the consideration is commensurate with either (1) the entity’s performance to achieve the milestone, or (2) the enhancement of the value of the delivered item(s) as a result of a specific outcome resulting from the entity’s performance to achieve the milestone, (b) the consideration relates solely to past performance and (c) the consideration is reasonable relative to all of the deliverables and payment terms within the arrangement. The Company evaluates factors such as the scientific, clinical, regulatory, commercial and other risks that must be overcome to achieve the respective milestone, the level of effort and investment required and whether the milestone consideration is reasonable relative to all deliverables and payment terms in the arrangement in making this assessment. The Company does not have any ongoing collaboration and license agreements under which milestones may be achieved.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Royalty revenues are based upon a percentage of net sales. Royalties from the sales of products will be recorded on the accrual basis when results are reliably measurable, collectability is reasonably assured and all other revenue recognition criteria are met. Commercial and sales-based milestones, which are based upon the achievement of certain agreed-upon sales thresholds, will be recognized in the period in which the respective sales threshold is achieved and collectability is reasonably assured. The Company does not have any ongoing collaboration and license agreements under which royalties or commercial and sales-based milestones may be achieved.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Stock-Based Compensation</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The Company recognizes stock-based compensation expense based on the grant date fair value of stock options granted to employees, officers and directors. The Company uses the Black-Scholes option pricing model to determine the grant date fair value as management believes it is the most appropriate valuation method for its option grants. The Black-Scholes model requires inputs for risk-free interest rate, dividend yield, volatility and expected lives of the options. Expected volatility is based upon the weighted average historical volatility data of the Company’s common stock. The risk-free rate for periods within the expected life of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. The expected lives for options granted represent the period of time that options granted are expected to be outstanding. The Company uses the simplified method for determining the expected lives of options. The Company estimates the forfeiture rate based on historical data. This analysis is re-evaluated at least annually and the forfeiture rate is adjusted as necessary. For awards with graded vesting, the Company recognizes compensation costs based on the grant date fair value of awards on a straight-line basis over the requisite service period, which is generally the vesting period.</font>
</p>
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Certain of the employee stock options granted by the Company are structured to qualify as incentive stock options (ISOs). Under current tax regulations, the Company does not receive a tax deduction for the issuance, exercise or disposition of ISOs if the employee meets certain holding requirements. If the employee does not meet the holding requirements, a disqualifying disposition occurs, at which time the Company may receive a tax deduction. The Company does not record tax benefits related to ISOs unless and until a disqualifying disposition is reported. In the event of a disqualifying disposition, the entire tax benefit is recorded as a reduction of income tax expense. The Company has not recognized any income tax benefit for its share-based compensation arrangements due to the fact that the Company does not believe it is more likely than not it will realize the related deferred tax assets.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Comprehensive Loss</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Comprehensive loss is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Changes in unrealized gains and losses on marketable securities represent the only difference between the Company’s net loss and comprehensive loss.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Segment Reporting</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Operating segments are determined based on the way management organizes its business for making operating decisions and assessing performance. The Company has a single operating segment, which is the discovery, development and commercialization of drug products.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Basic and Diluted Loss Per Common Share</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Basic net loss per share is computed using the weighted average number of common shares outstanding during the period, excluding restricted stock that has been issued but is not yet vested. Diluted net loss per common share is computed using the weighted average number of common shares outstanding and the weighted average dilutive potential common shares outstanding using the treasury stock method. However, for the three months and nine months ended September 30, 2015 and 2014, diluted net loss per share is the same as basic net loss per share as the inclusion of weighted average shares of unvested restricted common stock and common stock issuable upon the exercise of stock options would be anti-dilutive.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The following table summarizes outstanding securities not included in the computation of diluted net loss per common share as their inclusion would be anti-dilutive:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 90.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:66.66%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="3" valign="bottom" style="width:29.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">September 30,</font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="bottom" style="width:66.66%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:66.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Common stock options</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.34%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,587,239
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.34%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,262,468
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:66.66%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Unvested restricted common stock</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.34%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>452,556
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.34%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>529,272
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Recent Accounting Pronouncements</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">In May 2014, the FASB issued ASU No. 2014-09, —</font><font style="display:inline;font-style:italic;">Revenue from Contracts with Customers</font><font style="display:inline;"> (Topic 606), which amends the guidance for accounting for revenue from contracts with customers. This ASU supersedes the revenue recognition requirements in ASC Topic 605, and creates a new Topic 606,</font><font style="display:inline;font-style:italic;"> Revenue from Contracts with Customers</font><font style="display:inline;"> . This guidance was originally effective for fiscal years beginning after December 15, 2016, with early adoption not permitted. Two adoption methods are permitted: retrospectively to all prior reporting periods presented, with certain practical expedients permitted; or retrospectively with the cumulative effect of initially adopting the ASU recognized at the date of initial application. The FASB approved a one year deferral of the effective date of this standard to annual periods beginning after December 15, 2017, along with an option to permit companies to early adopt the standard for annual periods beginning after December 15, 2016. The Company has not yet determined the date it plans to adopt ASU No. 2014-09, which adoption method it will utilize, or the effect that the adoption of this guidance will have on its consolidated financial statements.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">In August 2014, the FASB issued ASU No. 2014-15, —</font><font style="display:inline;font-style:italic;">Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern</font><font style="display:inline;">. This ASU is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern within one year of the date of issuance of the entity’s financial statements and to provide related footnote disclosures. This guidance is effective for fiscal years ending after December 15, 2016, with early application permitted. The Company has not yet determined the effect that the adoption of this guidance will have on the disclosures included in its consolidated financial statements.</font>
</p>
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
1040000
1098000
305000
226000
-6000
8000
7000
17000
2600000
2500000
68510000
92476000
85000
40000
0.0001
0.0001
5000000
5000000
0
0
0
0
1656000
1975000
89795000
36941000
600000
2000000
12900000
22500000
41900000
7700000
60688000
101434000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">(4) Property and Equipment</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:62.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Property and equipment as of September 30, 2015 and December 31, 2014 consisted of the following (in thousands):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:62.48%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">September 30,</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">December 31,</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Laboratory equipment</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,217
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,217
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Leasehold improvements</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,015
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,988
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Computers and software</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,136
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,126
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Furniture and fixtures</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,179
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,176
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,547
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,507
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Less accumulated depreciation and amortization</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(20,986
</td>
<td valign="bottom" style="width:03.12%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(20,483
</td>
<td valign="bottom" style="width:01.26%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>561
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:13.58%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,024
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:13.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:13.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Depreciation and amortization expenses of property and equipment, including equipment purchased under capital leases, were approximately $0.2 million in each of the three months ended September 30, 2015 and 2014, and $0.5 million in each of the nine months ended September 30, 2015 and 2014.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
21507000
3126000
12217000
1176000
4988000
21547000
3136000
12217000
1179000
5015000
1024000
561000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:62.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Property and equipment as of September 30, 2015 and December 31, 2014 consisted of the following (in thousands):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:62.48%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">September 30,</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">December 31,</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Laboratory equipment</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,217
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,217
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Leasehold improvements</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,015
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,988
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Computers and software</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,136
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,126
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Furniture and fixtures</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,179
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,176
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,547
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,507
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Less accumulated depreciation and amortization</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(20,986
</td>
<td valign="bottom" style="width:03.12%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(20,483
</td>
<td valign="bottom" style="width:01.26%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>561
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:13.58%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,024
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:13.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:13.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
31000
31000
7151000
6908000
52552000
16208000
46972000
14413000
45
-637573000
-695708000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Revenue Recognition</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-style:italic;">Collaboration and License Agreements</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The Company’s principal source of revenue to date has been its former collaboration and license agreements, which included upfront license payments, development milestones, reimbursement of research and development costs, potential profit sharing payments, commercial and sales-based milestones and royalties. The accounting for collaboration and license agreements requires subjective analysis and requires management to make estimates and assumptions about whether deliverables within multiple-element arrangements are separable from the other aspects of the contractual arrangement into separate units of accounting and to determine the arrangement consideration to be allocated to each unit of accounting.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">For multiple-element arrangements entered into or materially modified after January 1, 2011, the Company follows the provisions of Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2009-13—</font><font style="display:inline;font-style:italic;"> Multiple-deliverable Revenue Arrangements</font><font style="display:inline;"> (ASU No. 2009-13). ASU No. 2009-13 amended certain provisions of Accounting Standards Codification (ASC) Topic 605—</font><font style="display:inline;font-style:italic;"> Revenue Recognition</font><font style="display:inline;"> . This standard addresses the determination of the unit(s) of accounting for multiple-element arrangements and how an arrangement’s consideration should be allocated to each unit of accounting.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Pursuant to this standard, each required deliverable is evaluated to determine if it qualifies as a separate unit of accounting. For the Company this determination includes an assessment as to whether the deliverable has “stand-alone value” to the customer separate from the undelivered elements. The arrangement’s consideration is then allocated to each separate unit of accounting based on the relative selling price of each deliverable. The estimated selling price of each deliverable is determined using the following hierarchy of values: (i) vendor-specific objective evidence of fair value, (ii) third-party evidence of selling price, or (iii) the Company’s best estimate of the selling price (BESP). The BESP reflects the Company’s best estimate of what the selling price would be if the deliverable was regularly sold by it on a stand-alone basis. The Company expects, in general, to use BESP for allocating consideration to each deliverable in future collaboration agreements. In general, the consideration allocated to each unit of accounting is then recognized as the related goods or services are delivered limited to the consideration not contingent upon future deliverables. The Company did not recognize any revenue related to collaboration and license agreements during the three months and nine months ended September 30, 2015 and 2014.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The Company accounts for development milestones under collaboration and license agreements pursuant to ASU No. 2010-17</font><font style="display:inline;font-style:italic;"> Milestone Method of Revenue Recognition</font><font style="display:inline;"> (ASU No. 2010-17). ASU No. 2010-17 codified a method of revenue recognition that has been common practice. Under this method, contingent consideration from research and development activities that is earned upon the achievement of a substantive milestone is recognized in its entirety in the period in which the milestone is achieved. At the inception of each arrangement that includes milestone payments, the Company evaluates whether each milestone is substantive. This evaluation includes an assessment of whether (a) the consideration is commensurate with either (1) the entity’s performance to achieve the milestone, or (2) the enhancement of the value of the delivered item(s) as a result of a specific outcome resulting from the entity’s performance to achieve the milestone, (b) the consideration relates solely to past performance and (c) the consideration is reasonable relative to all of the deliverables and payment terms within the arrangement. The Company evaluates factors such as the scientific, clinical, regulatory, commercial and other risks that must be overcome to achieve the respective milestone, the level of effort and investment required and whether the milestone consideration is reasonable relative to all deliverables and payment terms in the arrangement in making this assessment. The Company does not have any ongoing collaboration and license agreements under which milestones may be achieved.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Royalty revenues are based upon a percentage of net sales. Royalties from the sales of products will be recorded on the accrual basis when results are reliably measurable, collectability is reasonably assured and all other revenue recognition criteria are met. Commercial and sales-based milestones, which are based upon the achievement of certain agreed-upon sales thresholds, will be recognized in the period in which the respective sales threshold is achieved and collectability is reasonably assured. The Company does not have any ongoing collaboration and license agreements under which royalties or commercial and sales-based milestones may be achieved.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 90.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:66.66%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="3" valign="bottom" style="width:29.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">September 30,</font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="bottom" style="width:66.66%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:66.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Common stock options</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.34%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,587,239
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.34%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,262,468
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:66.66%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Unvested restricted common stock</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.34%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>452,556
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.34%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>529,272
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">A summary of cash, cash equivalents and available-for-sale marketable securities held by the Company as of September 30, 2015 and December 31, 2014 was as follows in thousands (see Note 2):</font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:49.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="11" valign="bottom" style="width:47.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, 2015</font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="bottom" style="width:49.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Cost</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Unrealized</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">gains</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Unrealized</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">losses</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Fair</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">value</font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Cash and cash equivalents:</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Cash and money market funds (Level 1)</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,038
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,038
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Corporate debt securities due within 3 months of date of purchase (Level 2)</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,499
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,499
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Total cash and cash equivalents</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,537
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,537
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Marketable securities:</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Corporate debt securities due within 1 year of date of purchase (Level 2)</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,704
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2
</td>
<td valign="bottom" style="width:02.50%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,715
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Total cash, cash equivalents and marketable securities</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>88,241
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>88,252
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:08.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:49.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="11" valign="bottom" style="width:47.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">December 31, 2014</font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="bottom" style="width:49.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Cost</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Unrealized</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">gains</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Unrealized</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">losses</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Fair</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">value</font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Cash and cash equivalents:</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Cash and money market funds (Level 1)</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,004
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,004
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Corporate debt securities due within 3 months of date of purchase (Level 2)</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,020
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,020
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Total cash and cash equivalents</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,024
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,024
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Marketable securities:</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Corporate debt securities due within 1 year of date of purchase (Level 2)</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>51,662
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(8
</td>
<td valign="bottom" style="width:02.50%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>51,666
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Total cash, cash equivalents and marketable securities</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>97,686
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(8
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>97,690
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:49.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Future principal payments under the GECC and Oxford Term Loans as of September 30, 2015 were approximately as follows (in thousands):</font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 90.00%;margin-left:0pt;">
<tr>
<td valign="top" style="width:82.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Years ending December 31,</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.34%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:82.78%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">2015</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.08%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,306
</td>
<td valign="bottom" style="width:01.10%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:82.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">2016</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.34%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,607
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:82.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:82.78%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Total principal payments</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.34%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,913
</td>
<td valign="bottom" style="width:01.10%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:82.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Less current portion</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.34%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,913
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:82.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:82.78%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Long term portion</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.08%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:01.10%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:82.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:12.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 86.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:65.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Shares</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Weighted</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">average</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">grant date</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">fair value</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">per share</font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Outstanding at January 1, 2015</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>744,514
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.65
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Vested</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(45,361
</td>
<td valign="bottom" style="width:02.88%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.02
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Granted</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>253,403
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.32
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Forfeited</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(500,000
</td>
<td valign="bottom" style="width:02.88%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.00
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Outstanding at September 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>452,556
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.59
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:12.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 86.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:62.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Shares</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Weighted average</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">exercise price</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">per share</font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Outstanding at January 1, 2015</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,829,343
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:15.70%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6.17
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.22%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Options granted</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,102,486
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.31
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Options exercised</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.22%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Options cancelled</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,344,590
</td>
<td valign="bottom" style="width:02.88%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.49
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Outstanding at September 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,587,239
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:15.70%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.08
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:62.22%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Exercisable at September 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,523,040
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:15.70%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6.31
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:41.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="3" valign="bottom" style="width:26.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended September 30,</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="3" valign="bottom" style="width:26.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Nine Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended September 30,</font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="bottom" style="width:41.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Risk-free interest rate</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.83
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">%</font></p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.96
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">%</font></p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.81
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">%</font></p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.88
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">%</font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Expected life in years</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6.25
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6.25
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6.24
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6.25
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Volatility</font></p>
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>72
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">%</font></p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>104
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">%</font></p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>95
</td>
<td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">%</font></p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>104
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">%</font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:41.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Expected dividend yield</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:02.50%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">—</font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:36.3pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Unrecognized stock-based compensation expense as of September 30, 2015 was as follows (dollars in thousands):</font>
</p>
<p style="margin:0pt;text-indent:36.3pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 86.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:65.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Unrecognized</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">stock</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">compensation</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">expense</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Weighted</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">average</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">remaining</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">period</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">(in years)</font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Stock options</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,687
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.60
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Restricted stock</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,013
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.11
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:13.84%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;line-height:106.67%;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Total</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,700
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
<td valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.55
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
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<font style="display:inline;font-size:1pt;"> </font></p>
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<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
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<font style="display:inline;font-size:1pt;"> </font></p>
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<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
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<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
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<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
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</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
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<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
22500000
6913000
9214000
6913000
4607000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Segment Reporting</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Operating segments are determined based on the way management organizes its business for making operating decisions and assessing performance. The Company has a single operating segment, which is the discovery, development and commercialization of drug products.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
5665000
3721000
P4Y
500000
4.00
253403
2.32
744514
452556
3.65
2.59
45361
100000
100000
3.02
P10Y
P6Y3M
P6Y3M
P6Y2M27D
P6Y3M
1.04
1.04
0.95
0.72
0.0188
0.0196
0.0181
0.0183
10300000
11600000
8741000
8608133
5523040
6.31
2344590
3102486
4.44
3.26
1.79
1.34
8829343
9587239
6.17
5.08
5.49
2.31
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Stock-Based Compensation</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The Company recognizes stock-based compensation expense based on the grant date fair value of stock options granted to employees, officers and directors. The Company uses the Black-Scholes option pricing model to determine the grant date fair value as management believes it is the most appropriate valuation method for its option grants. The Black-Scholes model requires inputs for risk-free interest rate, dividend yield, volatility and expected lives of the options. Expected volatility is based upon the weighted average historical volatility data of the Company’s common stock. The risk-free rate for periods within the expected life of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. The expected lives for options granted represent the period of time that options granted are expected to be outstanding. The Company uses the simplified method for determining the expected lives of options. The Company estimates the forfeiture rate based on historical data. This analysis is re-evaluated at least annually and the forfeiture rate is adjusted as necessary. For awards with graded vesting, the Company recognizes compensation costs based on the grant date fair value of awards on a straight-line basis over the requisite service period, which is generally the vesting period.</font>
</p>
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Certain of the employee stock options granted by the Company are structured to qualify as incentive stock options (ISOs). Under current tax regulations, the Company does not receive a tax deduction for the issuance, exercise or disposition of ISOs if the employee meets certain holding requirements. If the employee does not meet the holding requirements, a disqualifying disposition occurs, at which time the Company may receive a tax deduction. The Company does not record tax benefits related to ISOs unless and until a disqualifying disposition is reported. In the event of a disqualifying disposition, the entire tax benefit is recorded as a reduction of income tax expense. The Company has not recognized any income tax benefit for its share-based compensation arrangements due to the fact that the Company does not believe it is more likely than not it will realize the related deferred tax assets.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
1.75
65136000
60370000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">(5) Stockholders’ Equity</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Common Stock</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">Each common stockholder is entitled to one vote for each share of common stock held. The common stock will vote together with all other classes and series of stock of the Company as a single class on all actions to be taken by the Company’s stockholders. Each share of common stock is entitled to receive dividends, as and when declared by the Company’s board of directors.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The Company has never declared cash dividends on its common stock and does not expect to do so in the foreseeable future.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-style:italic;">Public Offering</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:29.7pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">In April 2015, the Company raised approximately $44.3 million in gross proceeds from the sale of an aggregate 25,300,000 shares of its common stock in a public offering at a public offering price of $1.75 per share, including 3,300,000 shares upon the full exercise of the underwriters’ option to purchase additional shares. Certain of the Company’s directors and their affiliates, including its largest stockholder, purchased an aggregate of 7,257,142 shares in this offering at the public offering price. The net offering proceeds to the Company were approximately $41.9 million after deducting underwriters’ discounts, fees and commissions, and other offering expenses payable by the Company.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-style:italic;">At-The-Market Issuance Sales Agreements</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:34.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-style:italic;">MLV & Co. LLC</font>
</p>
<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:34.1pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;color:#000000;">In July 2014, the Company entered into an at-the-market issuance sales agreement (July 2014 Sales Agreement) with MLV & Co. LLC (MLV), pursuant to which the Company issued and sold shares of its common stock from time to time, at the Company’s option, through MLV as its sales agent. Sales of common stock through MLV were made pursuant to an “at-the-market” offering as defined in Rule 415 promulgated under the Securities Act of 1933, as amended. MLV used commercially reasonable efforts to sell the common stock based upon the Company’s instructions (including price, time or size limits or other customary parameters or conditions the Company imposed). All shares were sold pursuant to an effective shelf registration statement on Form S-3 (File No. 333-187242). The Company paid MLV a commission of up to 3% of the gross proceeds. In October 2015, the Company terminated the July 2014 Sales Agreement.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:34.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">In July 2014, the Company reserved up to $50 million under its shelf registration statement for issuance under the July 2014 Sales Agreement. In the third quarter of 2014, the Company sold an aggregate of 5,679,685 shares of common stock pursuant to the July 2014 Sales Agreement for an aggregate of approximately $23.0 million in gross proceeds at an average selling price of $4.05 per share. Net proceeds to the Company were approximately $22.5 million after deducting commissions and other transaction costs.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:34.1pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">In the third quarter of 2015, the Company sold an aggregate of 3,614,511 shares of common stock pursuant to the July 2014 Sales Agreement for an aggregate of approximately $7.9 million in gross proceeds at an average selling price of $2.19 per share. Net proceeds to the Company were approximately $7.7 million after deducting commissions and other transaction costs.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-style:italic;">Cowen and Co. LLC</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">In October 2015, the Company entered into an at-the-market issuance sales agreement (October 2015 Sales Agreement), with Cowen and Company, LLC (Cowen), pursuant to which the Company may issue and sell shares of its common stock, having an aggregate offering price of up to $100 million, from time to time, at the Company’s option, through Cowen as its sales agent. Sales of common stock through Cowen may be made by any method that is deemed an “at-the-market” offering as defined in Rule 415 promulgated under the Securities Act of 1933, as amended, including by means of ordinary brokers’ transactions at market prices, in block transactions or as otherwise agreed by the Company and Cowen. Subject to the terms and conditions of the Sales Agreement, Cowen will use commercially reasonable efforts consistent with its normal trading and sales practices to sell the common stock based upon the Company’s instructions (including any price, time or size limits or other customary parameters or conditions the Company may impose). The Company is not obligated to make any sales of its common stock under the Sales Agreement. Any shares sold will be sold pursuant to an effective shelf registration statement </font><font style="display:inline;">on Form S-3 (File no. 333-</font><font style="display:inline;">206135). The Company will pay Cowen a commission of up to 3% of the gross proceeds. The October 2015 Sales Agreement may be terminated by the Company at any time upon 10 day’s notice. No shares have been sold to-date under the October 2015 Sales Agreement.</font>
</p>
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
5679685
25300000
7257142
3300000
3614511
0
23000000
44300000
7900000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;color:#000000;">(10) Subsequent Event – Restructuring Costs</font>
</p>
<p style="margin:0pt;text-indent:36pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;color:#000000;">In October 2015, the Company announced its decision to terminate for futility its Phase 3 GALAXY-2 trial of ganetespib and docetaxel in the second-line treatment of patients with advanced non-small cell lung adenocarcinoma. Based on the review of a pre-planned interim analysis, the study’s Independent Data Monitoring Committee concluded that the addition of ganetespib to docetaxel is unlikely to demonstrate a statistically significant improvement in the primary endpoint of overall survival compared to docetaxel alone.</font>
</p>
<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;color:#000000;">In November 2015,</font><font style="display:inline;"> following the termination of the </font><font style="display:inline;color:#000000;">GALAXY-2 trial, the Company </font><font style="display:inline;">committed to a restructuring that consisted primarily of </font><font style="display:inline;">a workforce reduction of approximately 45 positions, to a total of approximately 33 positions, to better align its workforce to its revised operating plans. The Company estimates its cash payments in connection with the workforce reduction, comprised principally of severance, unused vacation payments, benefits continuation costs and outplacement services, will range from $2.5 million to $2.6 million. </font><font style="display:inline;font-family:Times;">The Company expects the restructuring to be substantially completed, and the majority of the related cash payments to be paid, during the fourth quarter of 2015.</font><font style="display:inline;"> </font><font style="display:inline;font-family:Times;">Employees directly affected by the restructuring have received notification and will be provided with severance payments. As a result of terminating these employees, the Company estimates it may incur an impairment charge for certain research laboratory equipment, computer equipment, and furniture and fixtures due to the fact that these assets may no longer be utilized. At this time the Company is unable to estimate the amount of impairment costs as it is in the process of evaluating its facilities and equipment needs.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 13.2pt;text-indent: -13.2pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;font-weight:bold;">Use of Estimates</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p>
<p style="margin:0pt;text-indent:30.8pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant items subject to such estimates and assumptions include contract research accruals, recoverability of long-lived assets, measurement of stock-based compensation, and the periods of performance under collaborative research and development agreements. The Company bases its estimates on historical experience and various other assumptions that management believes to be reasonable under the circumstances. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
<font style="display:inline;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
95160945
105774949
125648990
135971551