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Australia Research and Development Tax Incentive
6 Months Ended
Jun. 30, 2015
Research and Development [Abstract]  
Australia Research and Development Tax Incentive

9. Australia Research and Development Tax Incentive

The Company’s wholly owned subsidiary, Zafgen Australia Pty Limited, which conducts core research and development activities on behalf of the Company is eligible to receive a 45% refundable tax incentive for qualified research and development activities. For the three months ended June 30, 2015 and 2014, $458 and $47, respectively, was recorded as a reduction to research and development expenses in the condensed consolidated statements of operations. For the six months ended June 30, 2015 and 2014, $687 and $73, respectively, was recorded as a reduction to research and development expenses in the condensed consolidated statements of operations These amounts represented 45% of the Company’s qualified research and development spending in Australia. The refund is denominated in Australian dollars and, therefore, the receivable is re-measured into U.S. dollars as of each reporting date. For the three months ended June 30, 2015 and 2014, the Company recorded in its condensed consolidated statements of operations unrealized foreign currency exchange gains (losses) of $(14) and $22, respectively, related to this tax incentive receivable. For the six months ended June 30, 2015 and 2014, the Company recorded in its condensed consolidated statements of operations unrealized foreign currency exchange gains (losses) of $(38) and $64, respectively, related to this tax incentive receivable. As of June 30, 2015 and December 31, 2014, the Company’s tax incentive receivable from the Australian government was $1,040 and $391, respectively.