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Commitments and Contingencies
 12 Months Ended
Dec. 31, 2013
Commitments And Contingencies Disclosure [Abstract]  
Commitments and Contingencies

9. Commitments and Contingencies

Operating Leases

The Company leases office and laboratory space in Rockville, Maryland under a lease that expires on March 31, 2018, and leases a manufacturing facility in Rockville under a lease that expires on December 31, 2014. The Company has an option under each lease to continue the respective lease for five years under the same terms. The Company also subleases office and laboratory space in South San Francisco under a lease that expires on December 31, 2018. All of the leases contain rent escalation clauses. For financial reporting purposes, rent expense is charged to operations on a straight-line basis over the term of the lease. As of December 31, 2013 and 2012, the Company had recorded a deferred rent liability of $2.9 million and $2.8 million, respectively. Rent expense for the years ended December 31, 2013, 2012 and 2011 was $2.7 million, $2.7 million and $2.9 million, respectively.

 

Future minimum lease payments under noncancelable operating leases at December 31, 2013 are as follows:

 

2014

    $ 3,651,421   

2015

      3,310,884   

2016

      3,410,210   

2017

      3,512,517   

2018

      2,780,398   

Thereafter

      —     
  

 

 

  
   $ 16,665,430