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Long-Term Investments
3 Months Ended
Mar. 31, 2015
Long-Term Investments

Note 6. Long-Term Investments

The Company maintains an investment in Aduro Biotech, Inc. (“Aduro”) carried under the cost basis of accounting and historically carried at zero on its unaudited condensed consolidated balance sheets. In April 2015, Aduro’s common stock began trading on the NASDAQ Global Select Market, trading under the ticker ADRO. At the time of Aduro’s initial public offering, the Company’s preferred shares in Aduro converted to 396,700 shares of common stock. The initial public offering price was $17 per share. The Company continues to carry its investment at zero on its unaudited condensed consolidated balance sheets at March 31, 2015. Given the fact that the security is a marketable equity security as of the initial public offering, the Company will be evaluating the subsequent accounting for this security in future quarters.