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Long-Term Investments
3 Months Ended
Mar. 31, 2012
Long-Term Investments [Abstract]  
Long-Term Investments

Note 6. Long-Term Investments

In connection with the agreements to license the immunotherapy technologies to Aduro BioTech ("Aduro") in 2009, the Company received preferred shares, which represented less than 10% of Aduro's capital. Pursuant to these license agreements, the Company is eligible to receive a 1% royalty fee on any future sales resulting from the licensed technology. In April 2011, Aduro completed a subsequent round of financing, issuing Series B preferred stock, and as a result of this financing, the Company's ownership in Aduro was reduced to less than 3%. Since receiving preferred stock in Aduro, the Company has carried its investment in Aduro at zero in its condensed consolidated balance sheet as the Company believes that it will never receive any economic benefit from its equity ownership in Aduro.