7.Commitments

In November 2010, the Company entered into a five-year, non-cancelable operating lease for office and laboratory space. In December 2011, the Company signed a lease amendment that expanded the leased premises beginning in the second quarter of 2012. The lease amendment also extended the term of the existing lease through June 30, 2017. The expansion lease includes a free rent period and escalating rent payments. The Company is recognizing rent expense on a straight-line basis over the lease term. The lease agreement provides for a five-year extension upon the completion of the lease term.

Future minimum payments required under the non-cancelable operating lease as of June 30, 2015 are summarized as follows (in thousands):

Year Ending December 31,	Amount
Remainder 2015	$	382
2016	760
2017	378

Total minimum lease payments	$	1,520

Rent expense for the three months ended June 30, 2015 and 2014 was $0.2 million and $0.2 million, respectively. Rent expense for the six months ended June 30, 2015 and 2014 was $0.4 million and $0.4 million, respectively.