7.Commitments

In November 2010, the Company entered into a five-year, non-cancelable operating lease for office and laboratory space that provided for a five-year extension upon the completion of the lease term. In December 2011, the Company signed a lease amendment (the “2011 Lease Amendment”) that expanded the leased premises beginning in the second quarter of 2012. The 2011 Lease Amendment also extended the term of the existing lease through June 30, 2017. The 2011 Lease Amendment includes a free rent period for the expansion premises and escalating rent payments. In July 2015, the Company signed another lease amendment (the “2015 Lease Amendment”) that expanded the leased premises beginning in the third quarter of 2015. The 2015 Lease Amendment includes escalating rent payments and is effective through June 30, 2017. The Company is recognizing rent expense on a straight-line basis over the lease term. The Company did not exercise its right to extend the term of the existing lease and subsequently entered in to an amendment that extended the term of the lease through June 2018. See Note 11.

Future minimum payments required under the non-cancelable operating lease as of September 30, 2016 are summarized as follows (in thousands):

Period Ending December 31,	Amount
Remainder 2016	$	234
2017	467

Total minimum lease payments	$	701

Rent expense for the three months ended September 30, 2016 and 2015 was $0.2 million and $0.2 million, respectively. Rent expense for the nine months ended September 30, 2016 and 2015 was $0.7 million and $0.6 million, respectively.