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Subsequent Events
6 Months Ended
Jun. 30, 2015
Subsequent Events [Abstract]  
Subsequent Events
7. Subsequent Events

In July 2015, the Company completed a public offering in which the Company sold 3,525,000 shares of its common stock at a price of $37.00 per share.  Additionally, the underwriters of the offering exercised their option to purchase additional shares, resulting in the sale of an additional 528,750 shares of the Company's common stock at a price of $37.00 per share.  The Company received proceeds of approximately $141.0 million from this offering, net of underwriting discounts, commissions and other estimated offering expenses.

Janssen is developing MGD011 pursuant to the collaboration agreement executed in December 2014 (see Note 4 for additional information). Janssen dosed the first patient in an open-label Phase 1 study in late July 2015, which triggered a $10.0 million milestone payment due to the Company.

In July 2015, the Company executed a seven year lease for additional space that the Company intends to use as mixed-use office, laboratory and manufacturing space.  The lease includes future minimum lease payments of $14.6 million. Execution of the lease also entitled the Company to an assignment fee from the former tenant and a tenant improvement allowance from the landlord totaling $5.1 million.