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Other Long-Term Liabilities | 3 Months Ended
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Mar. 31, 2014
Other Long-Term Liabilities |
Other Long-Term Liabilities | (8) Other Long-Term Liabilities Other long-term liabilities include the following:
|  | March 31, 2014 |  | December 31, 2013 |
|  | (In thousands) |
Deferred Rent |  | $ | 501 |  | $ | 419 |
Net Deferred Tax Liability related to IPR&D |  | 4,661 |  | 4,661 |
Deferred Income from Sale of Tax Benefits |  | 2,252 |  | 1,630 |
Deferred Revenue |  | 1,059 |  | 1,168 |
Total |  | 8,473 |  | 7,878 |
Less Current Portion |  | (1,127 | ) | (928 | )
Long-Term Portion |  | $ | 7,346 |  | $ | 6,950 |
In January 2014, 2013, 2012 and 2011, the Company received approval from the New Jersey Economic Development Authority and agreed to sell New Jersey tax benefits worth $1.1 million, $0.8 million, $0.8 million and $0.6 million to an independent third party for $1.0 million, $0.8 million, $0.7 million and $0.5 million, respectively. Under the agreement, the Company must maintain a base of operations in New Jersey for five years or the tax benefits must be paid back on a pro-rata basis based on the number of years completed. During the three months ended March 31, 2014 and 2013, the Company recorded $0.4 million and $0.2 million to other income related to the sale of these tax benefits, respectively. In September 2013, the Company entered into an agreement with Rockefeller University pursuant to which the Company will perform research and development services for Rockefeller. The agreement includes an approved project plan for the development services of $4.8 million and a term of three years. The agreement included an upfront payment of $1.3 million which is being recognized as revenue over the term of the agreement. The Company will bill Rockefeller quarterly for actual time and direct costs incurred and record those amounts to revenue in the quarter the services are performed. The Company recorded $0.4 million in revenue related to the Rockefeller agreement during the three months ended March 31, 2014.

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- Definition The entire disclosure for other liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20, 24 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20,24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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