10. Commitments |
3 Months Ended |
|---|---|
Mar. 31, 2016 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments |
In August 2013, the Company entered into an agreement to lease office and laboratory space in Lexington, Massachusetts under an operating lease with a commencement date of January 1, 2014 and a termination date of January 31, 2019. With the execution of this lease, the Company is required to maintain a $66,000 letter of credit as a security deposit. In connection with the Lexington lease, the Company recorded $83,473 as prepaid rent as of March 31, 2016, with $54,012 recorded as a non-current asset. The Company also incurred a liability of $89,074 with respect to the Companys contribution to the landlords leasehold improvements, of which $52,151 is outstanding as of March 31, 2016, with $34,146 recorded as a non-current liability, respectively. This liability is repayable as additional rent expense over the term of the lease and bears interest at 6%. The Company also leased office space in London, UK during 2014, however the lease was terminated in March 2015 in accordance with the terms of the lease. |