Subsequent Events

6 Months Ended

Jun. 30, 2017

Subsequent Events

Subsequent Events

11.Subsequent Events

The Company considers events or transactions that occur after the balance sheet date but prior to the issuance of the financial statements to provide additional evidence for certain estimates and to identify matters that require additional disclosure. Subsequent events have been evaluated as required. Except as set forth below, there were no material recognized subsequent events recorded in the condensed consolidated financial statements as of and for the three and six months ended June 30, 2017.

Operating Lease

On August 7, 2017, the Company entered into a Fourth Amendment of Lease (the “Fourth Lease Amendment”) with ARE-MA REGION NO. 59, LLC (the “Landlord”), which amended certain terms of the Company’s existing lease with the Landlord.  The Fourth Lease Amendment extended the term of the lease through June 30, 2020, and will increase the future minimum payments described in Note 7 from approximately $1.4 million to approximately $4.2 million.