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Subsequent Events
9 Months Ended
Sep. 30, 2016
Subsequent Events  
Subsequent Events

11.Subsequent Events

 

The Company considers 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 and 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 nine months ended September 30, 2016.

 

Operating Lease

 

On November 3, 2016, the Company entered into a Third Amendment of Lease (the “Third Lease Amendment”) with DWF IV One Kendall, LLC (the “Landlord”), which amended certain terms of the Company’s existing lease with the Landlord. The Third Lease Amendment extended the term of the lease through June 30, 2018, and will increase the future minimum payments described in Note 7 from approximately $0.7 million to approximately $1.5 million.