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Subsequent Events
6 Months Ended
Jun. 30, 2015
Subsequent Events  
Subsequent Events

12.Subsequent Events

 

We consider events or transactions that occur after the balance sheet date but prior to the issuance of the financial statements to provide additional evidence for certain estimates or to identify matters that require additional disclosure. Subsequent events have been evaluated as required. There were no material recognized subsequent events recorded in the condensed consolidated financial statements as of and for the three and six months ended June 30, 2015.

 

Operating Lease

 

On July 16, 2015, the Company entered into a Second Amendment to the Lease (the “Second Lease Amendment”) with DWF IV One Kendall, LLC (the “Landlord”), which amends certain terms of the Company’s existing lease with the Landlord. The Second Lease Amendment expands the rentable square footage of the Company’s leased premises from approximately 14,817 square feet to approximately 18,876 square feet. Pursuant to the Second Lease Amendment, the date on which the Company will become responsible for paying rent with respect to such additional square footage is September 1, 2015. The Second Lease Amendment will increase the future minimum payments described in Note 7 from approximately $1,520,000 to approximately $1,844,000.