tsro_Current_Folio

0001558370-16-005481.txt : 20160506 0001558370-16-005481.hdr.sgml : 20160506 20160506085256 ACCESSION NUMBER: 0001558370-16-005481 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 62 CONFORMED PERIOD OF REPORT: 20160331 FILED AS OF DATE: 20160506 DATE AS OF CHANGE: 20160506 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TESARO, Inc. CENTRAL INDEX KEY: 0001491576 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 272249687 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-35587 FILM NUMBER: 161626028 BUSINESS ADDRESS: STREET 1: 1000 WINTER STREET, SUITE 3300 CITY: WALTHAM STATE: MA ZIP: 02451 BUSINESS PHONE: (339) 970-0900 MAIL ADDRESS: STREET 1: 1000 WINTER STREET, SUITE 3300 CITY: WALTHAM STATE: MA ZIP: 02451 FORMER COMPANY: FORMER CONFORMED NAME: Tesaro, Inc. DATE OF NAME CHANGE: 20100510 10-Q 1 tsro-20160331x10q.htm 10-Q tsro_Current_Folio_10Q

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-Q

(Mark One)

☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2016

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 001-35587

TESARO, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware		27-2249687
(State or Other Jurisdiction of		(I.R.S. Employer
Incorporation or Organization)		Identification No.)

1000 Winter Street, Suite 3300
Waltham, Massachusetts		02451
(Address of Principal Executive Offices)		(Zip Code)

(339) 970-0900

(Registrant’s Telephone Number, Including Area Code)

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer ☒		Accelerated filer ☐

Non-accelerated filer ☐		Smaller reporting company ☐
(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of May 2, 2016, there were 45,845,028 shares of the registrant’s Common Stock, par value $0.0001 per share, outstanding.

Table of Contents

TESARO, INC.

FORM 10-Q
FOR THE THREE MONTHS ENDED MARCH 31, 2016

TABLE OF CONTENTS

		Page No.
PART I.	FINANCIAL INFORMATION (Unaudited)
Item 1.	Financial Statements	3
	Condensed Consolidated Balance Sheets as of December 31, 2015 and March 31, 2016	3
	Condensed Consolidated Statements of Operations and Comprehensive Loss for the three months ended March 31, 2015 and 2016	4
	Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2015 and 2016	5
	Notes to Condensed Consolidated Financial Statements	6
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	19
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	30
Item 4.	Controls and Procedures	30

PART II.	OTHER INFORMATION
Item 1.	Legal Proceedings	31
Item 1A.	Risk Factors	31
Item 6.	Exhibits	32

SIGNATURES			33

CERTIFICATIONS

Table of Contents

PART IFINANCIAL INFORMATION

Item 1. Financial Statements.

TESARO, INC.

Condensed Consolidated Balance Sheets

(all amounts in 000’s, except share and per share data)

(Unaudited)


	December 31,		March 31,
	2015		2016
Assets
Current assets:
Cash and cash equivalents	$	230,146	$	314,460
Accounts receivable		679		1,056
Inventories		1,106		5,992
Other current assets		4,560		4,208
Total current assets		236,491		325,716

Intangible assets, net		14,732		14,268
Property and equipment, net		2,779		2,690
Restricted cash		500		500
Other assets		779		803
Total assets	$	255,281	$	343,977

Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	8,019	$	12,334
Accrued expenses		36,628		40,133
Deferred revenue, current		500		3,362
Other current liabilities		1,534		3,043
Total current liabilities		46,681		58,872

Convertible notes, net		121,325		123,797
Deferred revenue, non-current		288		163
Other non-current liabilities		113		181
Total liabilities		168,407		183,013

Commitments and contingencies (Note 10)

Stockholders’ equity:
Preferred stock, $0.0001 par value; 10,000,000 shares authorized at both December 31, 2015 and March 31, 2016; no shares issued or outstanding at both December 31, 2015 and March 31, 2016		—		—
Common stock, $0.0001 par value; 100,000,000 shares authorized at both December 31, 2015 and March 31, 2016; 40,279,783 and 44,714,130 shares issued and outstanding at December 31, 2015 and March 31, 2016, respectively		4		4
Additional paid-in capital		688,788		853,744
Accumulated other comprehensive loss		—		(99)
Accumulated deficit		(601,918)		(692,685)
Total stockholders’ equity		86,874		160,964
Total liabilities and stockholders’ equity	$	255,281	$	343,977

See accompanying notes to condensed consolidated financial statements.

Table of Contents

TESARO, INC.

Condensed Consolidated Statements of Operations and Comprehensive Loss

(all amounts in 000’s, except per share data)

(Unaudited)


	Three Months Ended March 31,
	2015		2016
Revenues:
Product revenue, net	$	—	$	173
License revenue		—		134
Total revenues		—		307

Expenses:
Cost of sales – product		—		76
Cost of sales – intangible asset amortization		—		464
Research and development		33,545		52,632
Selling, general and administrative		11,242		30,023
Acquired in-process research and development		—		4,000
Total expenses		44,787		87,195
Loss from operations		(44,787)		(86,888)

Interest expense		(3,726)		(3,981)
Interest income		7		102
Net loss	$	(48,506)	$	(90,767)

Net loss per share applicable to common stockholders - basic and diluted	$	(1.30)	$	(2.22)

Weighted-average number of common shares used in net loss per share applicable to common stockholders - basic and diluted		37,312		40,966

Comprehensive loss:
Net loss	$	(48,506)	$	(90,767)
Other comprehensive loss:
Unrealized loss on pension obligation		—		(99)
Other comprehensive loss		—		(99)
Comprehensive loss	$	(48,506)	$	(90,866)

See accompanying notes to condensed consolidated financial statements.

Table of Contents

TESARO, INC.

Condensed Consolidated Statements of Cash Flows

(all amounts in 000’s)

(Unaudited)


	Three Months Ended March 31,
	2015		2016
Operating activities
Net loss	$	(48,506)	$	(90,767)
Adjustments to reconcile net loss to net cash used in operating activities:
Acquired in-process research and development		—		4,000
Depreciation and amortization expense		99		733
Stock-based compensation expense		3,920		9,258
Non-cash interest expense		2,200		2,472
Changes in operating assets and liabilities:
Accounts receivable		—		(377)
Inventories		—		(4,886)
Other assets		(352)		(282)
Accounts payable		(464)		4,293
Accrued expenses		1,277		3,725
Deferred revenues		—		2,737
Other liabilities		1,526		1,478
Net cash used in operating activities		(40,300)		(67,616)

Investing activities
Acquisition of product candidate and technology licenses and milestone payments		—		(4,000)
Purchase of property and equipment		(172)		(380)
Net cash used in investing activities		(172)		(4,380)

Financing activities
Proceeds from sale of common stock, net of issuance costs		179,950		154,972
Proceeds from exercise of stock options		2,807		1,338
Net cash provided by financing activities		182,757		156,310

Increase in cash and cash equivalents		142,285		84,314
Cash and cash equivalents at beginning of period		256,861		230,146
Cash and cash equivalents at end of period	$	399,146	$	314,460

Non-cash investing and financing activities
Common stock issuance costs — cash not paid as of period end	$	204	$	—
Stock option exercise proceeds receivable as of period end	$	—	$	82

See accompanying notes to condensed consolidated financial statements.

Table of Contents

TESARO, INC.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

1. Description of Business

TESARO, Inc., or the Company or TESARO, was incorporated in Delaware on March 26, 2010 and commenced operations in May 2010. Headquartered in Waltham, Massachusetts, TESARO is an oncology-focused biopharmaceutical company dedicated to improving the lives of cancer patients. TESARO acquires, in-licenses, develops, and commercializes oncology products and product candidates. Since incorporation, primary activities have consisted of acquiring product candidates, advancing development of these product candidates, developing intellectual property, recruiting personnel and raising capital. As part of its business strategy, the Company intends to continue to in-license or acquire additional product candidates across various stages of development. The Company operates in one segment. The Company is subject to a number of risks, including dependence on key individuals, the need to develop commercially viable products, competition from other companies, many of which are larger and better capitalized, and the need to obtain adequate additional financing to fund the development and potential commercialization of its product candidates and further its in-licensing and acquisition activities.

On September 1, 2015, the Company’s first commercial product, VARUBI® (rolapitant), was approved by the United States Food and Drug Administration, or FDA, in combination with other antiemetic agents in adults for the prevention of delayed nausea and vomiting associated with initial and repeat courses of emetogenic cancer chemotherapy, including, but not limited to, highly emetogenic chemotherapy. The Company commenced sales of VARUBI during the fourth quarter of 2015.

The Company has incurred significant operating losses since inception and has relied on its ability to fund its operations through private and public equity and debt financings. Management expects operating losses and negative operating cash flows to continue for the foreseeable future. As the Company continues to incur losses, transition to profitability is dependent upon the successful development, approval, and commercialization of its products and product candidates and the achievement of a level of revenues adequate to support its cost structure. The Company may never achieve profitability, and unless and until it does, the Company will continue to need to raise additional capital. On March 18, 2016, the Company closed a private placement of its common stock with certain accredited investors, whereby an aggregate of 4,404,658 shares of common stock were issued at a price per share of $35.19 for aggregate gross proceeds of approximately $155.0 million. On April 5, 2016, the Company closed a private placement of its common stock with one accredited investor for gross proceeds of approximately $50.0 million. Management intends to fund future operations in part through the proceeds from these financings and additional public or private equity or debt offerings and may seek additional capital through arrangements with strategic partners or from other sources.

2. Basis of Presentation and Significant Accounting Policies

Basis of Presentation

The accompanying condensed consolidated financial statements are unaudited and have been prepared by TESARO in conformity with accounting principles generally accepted in the United States of America, or GAAP.

The Company’s condensed consolidated financial statements reflect the operations of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The Company currently operates in one business segment, which is the identification, acquisition, development and commercialization of oncology therapeutics and supportive care product candidates, and has a single reporting and operating unit structure.

Certain information and footnote disclosures normally included in the Company’s annual financial statements have been condensed or omitted. These interim financial statements, in the opinion of management, reflect all normal recurring adjustments necessary for a fair presentation of the Company’s financial position and results of operations for the interim periods ended March 31, 2015 and 2016.

Table of Contents

The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the full fiscal year. These interim financial statements should be read in conjunction with the audited financial statements as of and for the year ended December 31, 2015 and the notes thereto, which are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

Use of Estimates

The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, other comprehensive income and the related disclosures. On an ongoing basis, management evaluates its estimates, including estimates related to sales of its approved product, accrued clinical trial and manufacturing development expenses, which form part of the Company’s research and development expenses, and stock-based compensation expense. Significant estimates in these condensed consolidated financial statements include estimates made in connection with accrued research and development expenses, stock-based compensation expense, product revenue, and valuation of convertible notes. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. Actual results may differ from those estimates or assumptions.

Cash and Cash Equivalents

The Company considers all highly-liquid investments with original or remaining maturity from the date of purchase of three months or less to be cash equivalents. Cash and cash equivalents include bank demand deposits and money market funds that invest primarily in certificates of deposit, commercial paper and U.S. government and U.S. government agency obligations. Cash equivalents are reported at fair value.

Fair Value of Financial Instruments

The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values. The fair value hierarchy prioritizes valuation inputs based on the observable nature of those inputs. The fair value hierarchy applies only to the valuation inputs used in determining the reported fair value of the investments and is not a measure of investment credit quality. The hierarchy defines three levels of valuation inputs:

Level 1 inputsQuoted prices in active markets for identical assets or liabilities

Level 2 inputsObservable inputs other than Level 1 inputs, including quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active

Level 3 inputsUnobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability

Table of Contents

The following table presents information about the Company’s financial assets and liabilities that have been measured at fair value as of December 31, 2015 and March 31, 2016 and indicates the fair value hierarchy of the valuation inputs utilized to determine such fair value (in thousands):


		December 31, 2015
Description	Balance Sheet Classification	Total		Level 1		Level 2		Level 3

Assets:
Money market funds	Cash and cash equivalents	$	224,885	$	224,885	$	—	$	—
Total assets		$	224,885	$	224,885	$	—	$	—


		March 31, 2016
Description	Balance Sheet Classification	Total		Level 1		Level 2		Level 3

Assets:
Money market funds	Cash and cash equivalents	$	300,020	$	300,020	$	—	$	—
Total assets		$	300,020	$	300,020	$	—	$	—

The carrying amounts of accounts payable and accrued expenses approximate their fair values due to their short-term maturities.

In September 2014, the Company issued $201.3 million aggregate principal amount of 3.00% convertible senior notes due October 1, 2021, or the Convertible Notes. Interest is payable semi-annually in arrears on April 1 and October 1 of each year, beginning on April 1, 2015. As of March 31, 2016, the carrying value of the Convertible Notes, net of unamortized discount and debt issuance costs, was $123.8 million and the estimated fair value of the principal amount was $309.2 million. The Convertible Notes are discussed in more detail in Note 5, “Convertible Notes.”

Revenue Recognition

Product Revenue

Revenues from product sales are recognized when persuasive evidence of an arrangement exists, delivery has occurred and title to the product and associated risk of loss has passed to the customer, the price is fixed or determinable, collection from the customer has been reasonably assured, all performance obligations have been met and returns and allowances can be reasonably estimated. Product revenues are recorded net of estimated rebates, chargebacks, discounts, co-pay assistance and other deductions as well as estimated product returns. Allowances are recorded as a reduction of revenue at the time product revenues are recognized.

VARUBI is currently distributed in the U.S. principally through a limited number of specialty distributors and to a lesser extent though the specialty pharmacy channel, or collectively, Customers. Customers subsequently resell VARUBI to health care providers and payers.

In addition to distribution agreements with Customers, the Company has entered into arrangements with many health care providers and payers that provide for government-mandated and/or privately-negotiated rebates, chargebacks and discounts with respect to the purchase of VARUBI.

Due to the recent launch of VARUBI, with the exception of actual payer data provided by the specialty pharmacy channel, the Company has determined that it does not yet have sufficient actual historical data regarding the ultimate third-party payer mix and resulting rebates related to shipments of VARUBI to its Customers. In addition, the Company has further determined that it does not currently have the necessary volume of activity to provide sufficient visibility into the distribution channel and the ultimate utilization of the product, which inhibits the Company’s ability to determine a reasonable estimate of potential returns. As a result of the above, at March 31, 2016, the Company has determined that it is not yet able to reliably make all of the estimates necessary to meet certain of the key recognition criteria in order to recognize net product revenues with respect to shipments of VARUBI to specialty distributor Customers. Accordingly, the Company concluded that revenue related to shipments to specialty distributors, for which the Company has received payment, should be deferred.

Table of Contents

With respect to shipments into the specialty pharmacy channel, for which the Company receives payer data once the specialty pharmacy ships VARUBI to providers and other third parties, the Company has determined that revenue from sales to the specialty pharmacy will be recognized once such shipments to providers and other third parties occur. For such specialty pharmacy sales, allowances for government and non-government rebates and discounts are established based on the actual payer information, which is known at the time of shipment to patients or providers, as well as the related contracted discount rates applicable to each. In certain cases an estimate of utilization of the rebate by the patient within each payer group is needed and is estimated based on market research data. During the three months ended March 31, 2016, the Company recognized $0.2 million in net product revenues related to VARUBI sales through the specialty pharmacy channel. No net product revenue was recorded for the three months ended March 31, 2015.

Payments received from Customers in advance of recognition of revenue are recorded as deferred revenue by the Company, net of payments made to Customers, providers and payers.

License Revenue

The Company may enter into arrangements under which it licenses certain rights to its product candidates to third parties. Activities under licensing agreements are evaluated to determine if they represent a multiple element arrangement. The Company identifies the deliverables included within the agreement and evaluates which deliverables represent separate units of accounting. The Company accounts for those components as separate units of accounting if the following two criteria are met:

the delivered item or items have stand-alone value to the customer; and

delivery or performance of the undelivered item(s) is considered probable and substantially in the control of the Company, and the arrangement includes a general right of return relative to the delivered item(s).

Factors considered in this determination include, among other things, whether any other vendors sell the items separately and if the licensee could use the delivered item for its intended purpose without the receipt of the remaining deliverables. When multiple deliverables are combined and accounted for as a single unit of accounting, the Company bases its revenue recognition on the last element to be delivered using the straight-line or proportional performance method depending on the Company’s ability to estimate the performance obligation. Amounts received or recorded as receivable prior to satisfying the associated revenue recognition criteria are recorded as deferred revenue in the condensed consolidated balance sheets. Amounts not expected to be recognized within one year following the balance sheet date are classified as non-current deferred revenue.

If a future milestone payment under a license agreement is contingent upon the achievement of a substantive milestone, license revenue is recognized in its entirety in the period in which the milestone is achieved. A milestone is substantive if:

it can only be achieved based in whole or in part on either the Company’s performance or the occurrence of a specific outcome resulting from the Company’s performance;

there is substantive uncertainty at the date an arrangement is entered into that the event will be achieved; and

it would result in additional payments being due to the Company.

The commercial milestone and royalty payments received under license agreements, if any, will be recognized as license revenue when they are earned.

In July 2014, the Company entered into a license agreement with Jiangsu Hengrui Medicine Co., Ltd., or Hengrui, pursuant to which Hengrui has licensed rights to develop, manufacture and commercialize rolapitant in China, including Hong Kong and Macao. For this arrangement, the Company has determined that there is only one unit of accounting that includes the licensed patents and the licensed know-how, which will be delivered over a period of time. The Company recorded $0.1 million of license revenue related to a $1.0 million up-front payment under this arrangement during the three months ended March 31, 2016, and recorded $0.7 million as deferred revenue as of March 31, 2016. This $1.0 million payment is being recognized as license revenue over the two-year period of performance

Table of Contents

relating to the Company’s obligations to provide the licensed know-how to Hengrui. Under the terms of the agreement, the Company would be entitled to additional payments of up to $2.0 million contingent on the achievement of certain regulatory milestones, as well as royalties on product sales at percentage rates in the low teens.

In April 2016, the Company entered into a collaboration and license agreement with Janssen Biotech, Inc., or Janssen, under which the Company granted Janssen licenses under certain patent rights and know-how relating to niraparib, for prostate cancer worldwide. See Note 12, “Subsequent Events,” for further discussion.

Research and Development Expenses

Research and development costs are charged to expense as incurred and include:

pre-commercial license fees and milestone payments related to the acquisition of in-licensed product candidates, which are reported on the statements of operations as acquired in-process research and development;

employee-related expenses, including salaries, bonuses, benefits, travel and stock-based compensation expense;

fees and expenses incurred under agreements with contract research organizations, investigative sites, research consortia and other entities in connection with the conduct of clinical trials and preclinical studies and related services, such as data management, laboratory and biostatistics services;

the cost of acquiring, developing and manufacturing active pharmaceutical ingredients for product candidates that have not received regulatory approval, clinical trial materials and other research and development materials;

fees and costs related to regulatory filings and activities;

facilities, depreciation and other expenses, which include direct and allocated expenses for rent, utilities, maintenance of facilities, insurance and other supplies; and

other costs associated with clinical and preclinical activities.

Costs for certain development activities, such as clinical trials and manufacturing development activities, are recognized based on an evaluation of the progress to completion of specific tasks using data such as patient enrollment, clinical site activations, or information provided to the Company by its vendors on their actual costs incurred or level of effort expended. Payments for these activities are based on the terms of the individual arrangements, which may differ from the pattern of costs incurred, and are reflected in the condensed consolidated balance sheets as prepaid or accrued research and development expenses. Certain clinical development costs incurred by the Company with respect to its niraparib program are reimbursed as part of a collaborative research agreement with Merck. Cost-sharing amounts received by the Company are recorded as a reduction to research and development expenses.

Acquired In-Process Research and Development Expense

The Company has acquired the rights to develop and commercialize new product candidates. Up-front payments that relate to the acquisition of a new drug compound, as well as pre-commercial milestone payments, are immediately expensed as acquired in-process research and development in the period in which they are incurred, provided that the new drug compound did not also include processes or activities that would constitute a “business” as defined under GAAP, the drug has not achieved regulatory approval for marketing and, absent obtaining such approval, has no alternative future use. Milestone payments made to third parties subsequent to regulatory approval are capitalized as intangible assets and amortized over the estimated remaining useful life of the related product. Royalties owed on sales of the products licensed pursuant to the agreements are expensed in the period the related revenues are recognized.

Table of Contents

Intangible Assets

We maintain definite-lived intangible assets related to certain capitalized milestones. These assets are amortized on a straight-line basis over their remaining useful lives, which are estimated to be the remaining patent life. If our estimate of the product’s useful life is shorter than the remaining patent life, then the shorter period is used. Amortization expense is recorded as a component of cost of sales in the consolidated statements of operations.

We assess our intangible assets for impairment if indicators are present or changes in circumstance suggest that impairment may exist. Events that could result in an impairment, or trigger an interim impairment assessment, include the receipt of additional clinical or nonclinical data regarding our drug candidate or a potentially competitive drug candidate, changes in the clinical development program for a drug candidate or new information regarding potential sales for the drug. In connection with each impairment assessment, we compare the fair value of the asset as of the date of the assessment with the carrying value of the asset on our consolidated balance sheet.

Stock-Based Compensation Expense

Stock-based compensation is recognized as expense for each stock-based award based on its estimated fair value. The Company determines the fair value of each stock option award at its grant date using the Black-Scholes option pricing model. The Company determines the fair value of each restricted stock unit at its grant date based on the closing market price of the Company’s common stock on that date. The value of the award that is ultimately expected to vest is recognized as expense on a straight-line basis over the requisite service period. The cumulative effect of any changes to the estimated forfeiture rates are accounted for as an adjustment to expense in the period of the change.

Inventory

Inventories are stated at the lower of cost or estimated net realizable value, on a first-in, first-out, or FIFO, basis.

Prior to the regulatory approval of its product candidates, the Company incurs expenses for the manufacture of drug product that could potentially be available to support the commercial launch of its products. Until the first reporting period when regulatory approval has been received or is otherwise considered probable, the Company records all such costs as research and development expense. The Company periodically analyzes its inventory levels, and writes down inventory that has become obsolete, inventory that has a cost basis in excess of its estimated realizable value and inventory in excess of expected sales requirements as cost of product sales. The determination of whether inventory costs will be realizable requires estimates by management. If actual market conditions are less favorable than projected by management, additional write-downs of inventory may be required which would be recorded as a cost of product sales in the consolidated statements of operations.

New Accounting Pronouncements - Recently Adopted

In June 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, No. 2014-12. The amendments in this ASU apply to reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target can be achieved after a requisite service period. The amendments require an entity to treat a performance target that affects vesting, and that could be achieved after the requisite service period, as a performance condition. A reporting entity should apply existing guidance in ASC Topic 718 relating to awards with performance conditions that affect vesting to account for such awards. The performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The amendments in this ASU are effective for annual reporting periods and interim periods within those annual reporting periods beginning after December 15, 2015, and early adoption is permitted. The Company adopted this ASU on January 1, 2016, and the adoption of this guidance did not have an impact on the Company’s consolidated financial statements.

Table of Contents

acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance will not change GAAP for a customer’s accounting for service contracts. ASU 2015-05 is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. An entity can elect to adopt the amendments either (1) prospectively to all arrangements entered into or materially modified after the effective date, or (2) retrospectively. For prospective transition, the only disclosure requirements at transition are the nature of and reason for the change in accounting principle, the transition method, and a qualitative description of the financial statement line items affected by the change. For retrospective transition, the disclosure requirements at transition include the requirements for prospective transition and quantitative information about the effects of the accounting change. The Company adopted this ASU prospectively on January 1, 2016 and the adoption of this guidance did not have a material impact on the Company’s consolidated financial statements.

New Accounting Pronouncements - Recently Issued

In May 2014, the FASB issued ASU No. 2014-09, which amends the guidance for accounting for revenue from contracts with customers. This ASU supersedes the revenue recognition requirements in Accounting Standards Codification, or ASC, Topic 605, Revenue Recognition, and creates a new Topic 606, Revenue from Contracts with Customers. Two adoption methods are permitted: retrospectively to all prior reporting periods presented, with certain practical expedients permitted; or retrospectively with the cumulative effect of initially adopting the ASU recognized at the date of initial application. In August 2015, the FASB issued ASU No. 2015-14, which defers the effective date by one year to December 15, 2017 for annual reporting periods beginning after that date, including interim periods within those periods. The FASB also approved permitting early adoption of the standard, but not before the original effective date of December 15, 2016. In March 2016, the FASB issued ASU No. 2016-08, which clarifies the implementation guidance on principal versus agent considerations. The Company is currently in the process of evaluating which adoption method it will utilize and the impact that the adoption of this guidance will have on its potential future revenue streams and consolidated financial statements.

In August 2014, the FASB issued ASU No. 2014-15, which is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. Substantial doubt about an entity’s ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued (or are available to be issued). ASU No. 2014-15 provides guidance to an organization’s management, with principles and definitions intended to reduce diversity in the timing and content of disclosures commonly provided by organizations in the footnotes of their financial statements. ASU No. 2014-15 is effective for annual reporting periods ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. We have not yet adopted this standard; however, if this standard had been adopted as of March 31, 2016, the Company believes that it would have concluded there was not substantial doubt about its ability to continue as a going concern.

In July 2015, the FASB issued ASU No. 2015-11, which amends existing guidance for measurement of inventory. Current inventory guidance requires an entity to measure inventory at the lower of cost or market. Market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. The amendments do not apply to inventory that is measured using last-in, first-out (LIFO) or the retail inventory method. The amendments apply to all other inventory, which includes inventory that is measured using first-in, first-out or average cost. An entity should measure all inventory to which the amendments apply at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. The amendments in this ASU more closely align the measurement of inventory in GAAP with the measurement of inventory in International Financial Reporting Standards. The amendments are effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017. The amendments should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. The Company is currently in the process of evaluating the impact that the adoption of this guidance will have on its consolidated financial statements and related disclosures.

Table of Contents

beginning after December 15, 2018, and interim periods within those fiscal years, with early adoption permitted. The new standard must be applied using a modified retrospective transition approach which requires application of the new guidance for all periods presented. The Company is currently in the process of evaluating the impact that the adoption of this guidance will have on its consolidated financial statements and related disclosures.

In March 2016, the FASB issued ASU No. 2016-09, which simplifies various aspects of accounting for share-based payments to employees. Key provisions of the new standard include requiring excess tax benefits and shortfalls to be recorded as income tax benefit or expense in the income statement, rather than in equity, and permitting an election to record the impact of pre-vesting forfeitures as they occur. The new guidance is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years, with early adoption permitted. The Company is currently in the process of evaluating the impact that the adoption of this guidance will have on its consolidated financial statements.

3. Net Loss per Share

Basic and diluted net loss per common share is calculated by dividing net loss applicable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration of common stock equivalents. The Company’s potentially dilutive shares, which include outstanding stock options, unvested restricted stock units, and shares issuable upon conversion of the Convertible Notes, are considered to be common stock equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive.

The following table presents amounts that were excluded from the calculation of diluted net loss per share, due to their anti-dilutive effect (in thousands):


	Three Months Ended March 31,
	2015	2016
Outstanding stock options	4,791	7,068
Unvested restricted stock units	16	537
Shares issuable upon conversion of Convertible Notes	—	20
	4,807	7,625

In September 2014, the Company issued Convertible Notes, which provide in certain situations for the conversion of the outstanding principal amount of the Convertible Notes into shares of the Company’s common stock at a predefined conversion rate. See Note 5, “Convertible Notes”, for additional information. In conjunction with the issuance of the Convertible Notes, the Company entered into capped call option transactions, or Capped Calls, with certain counterparties. The Capped Calls are expected generally to reduce the potential dilution, and/or offset, to an extent, the cash payments the Company may choose to make in excess of the principal amount, upon conversion of the Convertible Notes.

As provided by the terms of the indenture underlying the Convertible Notes, the Company has a choice to settle the conversion obligation for the Convertible Notes in cash, shares or any combination of the two. The Company currently intends to settle the par value of the Convertible Notes in cash and any excess conversion premium in shares. Accordingly, the par value of the Convertible Notes will not be included in the calculation of diluted net income per share, but the dilutive effect of the conversion premium will be considered in the calculation of diluted net income per share using the treasury stock method. The share figure in the table above represents the estimated incremental shares that would be issued, after consideration of the Capped Calls, assuming conversion of all of the outstanding Convertible Notes as of March 31, 2016.

4. Inventories

The following table presents inventories as of December 31, 2015 and March 31, 2016 (in thousands):


		December 31,		March 31,
	2015		2016
Raw materials	$	364	$	5,239
Work in process		83		143
Finished goods		659		610
Total inventories	$	1,106	$	5,992

Table of Contents

5. Convertible Notes

On September 29, 2014, in a registered underwritten public offering, the Company completed the issuance of $201.3 million aggregate principal amount of Convertible Notes. In conjunction with the sale of the Convertible Notes, the Company used $20.8 million of the net proceeds to enter into separate Capped Calls.

The Convertible Notes bear interest at a rate of 3.00% per annum, payable semi-annually on April 1 and October 1, and will be convertible into cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election. The Convertible Notes will mature on October 1, 2021, unless earlier converted or repurchased in accordance with their terms. Prior to the close of business on the business day immediately preceding April 1, 2021, the Convertible Notes will be convertible only upon the occurrence of certain events and during certain periods as discussed below, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The initial conversion price of the Convertible Notes is approximately $35.13 per share of common stock at an initial conversion rate of 28.4627 shares of the Company’s common stock per $1,000 principal amount of Convertible Notes.

The conversion rate is subject to adjustment from time to time upon the occurrence of certain events, including, but not limited to, the issuance of stock dividends and payment of cash dividends. At any time prior to the close of business on the business day immediately preceding April 1, 2021, holders may convert their Convertible Notes at their option only under the following circumstances:

(1)

during any calendar quarter commencing after the calendar quarter ending on December 31, 2014 (and only during such calendar quarter), if the closing sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter in which the conversion occurs is greater than 130% of the conversion price on each applicable trading day;

(2)

during the five business day period after any ten consecutive trading day period, or the measurement period, in which the trading price per $1,000 principal amount of the Convertible Notes for each trading day of the measurement period was less than 98% of the product of the closing sale price of the Company’s common stock and the conversion rate on each such trading day; or

(3)

upon the occurrence of specified corporate events.

The following table sets forth total interest expense recognized related to the Convertible Notes during the three months ended March 31, 2015 and 2016 (in thousands):


	Three Months Ended March 31,
	2015		2016
Contractual interest expense	$	1,526	$	1,509
Amortization of debt discount		2,026		2,315
Amortization of debt issuance costs		174		157
Total interest expense	$	3,726	$	3,981

6. Stock-Based Compensation

The Company maintains several equity compensation plans, including the TESARO, Inc. 2012 Omnibus Incentive Plan, or the 2012 Incentive Plan, the TESARO, Inc. 2010 Stock Incentive Plan, or the 2010 Incentive Plan, the TESARO, Inc. 2015 Non-Employee Director Stock Incentive Plan, or the 2015 Director Plan, and the TESARO, Inc. 2012 Employee Stock Purchase Plan, or the 2012 ESPP.

Table of Contents

available for grants of awards under the 2012 Incentive Plan is increased automatically on January 1 by a number of shares of common stock equal to the lesser of 4% of the shares of common stock outstanding at such time or the number of shares determined by the Company’s board of directors. Most recently, on January 1, 2015 and 2016, the number of shares authorized for issuance under the 2012 Incentive Plan was increased by 1,444,403 shares and 1,611,191 shares, respectively. On May 14, 2015, the stockholders of the Company approved an increase of 2,000,000 shares of common stock available for grant under the 2012 Incentive Plan. Awards under the 2012 Incentive Plan may include the following award types: stock options, which may be either incentive stock options or nonqualified stock options; stock appreciation rights; restricted stock; restricted stock units; dividend equivalent rights; performance shares; performance units; cash-based awards; other stock-based awards, including unrestricted shares; or any combination of the foregoing. The exercise price of stock options granted under the 2012 Incentive Plan is equal to the closing price of a share of the Company’s common stock on the grant date.

On May 14, 2015, the stockholders of the Company approved the 2015 Director Plan, which had been previously adopted by the board of directors in order to have a plan in addition to the 2012 Incentive Plan for purposes of granting awards to non-employee directors. The 2015 Director Plan allows the Company to grant awards for up to 500,000 shares of common stock. Awards under the 2015 Director Plan may include the following award types: stock options; stock appreciation rights; restricted stock; restricted stock units; unrestricted stock; or any combination of the foregoing. The exercise price of stock options granted under the 2015 Director Plan is equal to the closing price of a share of the Company’s common stock on the grant date.

Stock-based compensation expense as reflected in the Company’s condensed consolidated statements of operations and comprehensive loss was as follows (in thousands):


	Three Months Ended March 31,
	2015		2016
Research and development	$	1,814	$	3,666
Selling, general and administrative		2,106		5,592
Total stock-based compensation expense	$	3,920	$	9,258

Stock Options

The following table presents a summary of the Company’s stock option activity and related information:



		Weighted-average
		exercise price per
	Shares	share
Outstanding at December 31, 2015	5,878,352	$	35.00
Granted	1,298,421		43.22
Exercised	(29,689)		24.56
Cancelled	(79,531)		49.95
Outstanding at March 31, 2016	7,067,553	$	36.39

Vested at March 31, 2016	2,646,197	$	18.39
Vested and expected to vest at March 31, 2016 (a)	6,527,560	$	35.44

(a)

This represents the number of vested options as of March 31, 2016, plus the number of unvested options expected to vest as of March 31, 2016, based on the unvested options at March 31, 2016, adjusted for the estimated forfeiture rate.

At March 31, 2016, there was approximately $97.4 million of total unrecognized compensation cost related to unvested stock options, which the Company expects to recognize over a remaining weighted-average period of 3.1 years.

Table of Contents

Restricted Stock Units

The following table presents a summary of the Company’s restricted stock unit, or RSU, activity and related information:


		Weighted-average
		grant date fair
	Shares	value per share
Unvested restricted stock units at December 31, 2015	60,000	$	56.00
Granted	480,995		43.31
Vested	—		—
Forfeited	(3,700)		43.39
Unvested restricted stock units at March 31, 2016	537,295	$	44.72

At March 31, 2016, there was approximately $19.4 million of unrecognized compensation cost related to RSUs, which the Company expects to recognize over a remaining weighted-average period of 3.8 years.

ESPP

Under the Company’s 2012 ESPP, an aggregate of 275,000 shares of common stock have been reserved for issuance pursuant to purchase rights granted to the Company’s employees or to employees of the Company’s designated subsidiaries. As of March 31, 2016, 236,723 shares remained available for issuance. During the three months ended March 31, 2015 and 2016, the Company did not issue any shares under the 2012 ESPP, and recognized approximately $0.1 million and $0.3 million in related stock-based compensation expense, respectively.

7. Common Stock Transactions

In March 2015, the Company sold 3,755,000 shares of common stock in an underwritten public offering at a price to the public of $51.00 per share, resulting in gross proceeds of approximately $191.5 million. Net proceeds to the Company after deducting fees, commissions and other expenses related to the offering were approximately $179.8 million. The shares were issued pursuant to an automatic shelf registration statement on Form S-3.

In March 2016, the Company sold 4,404,658 shares of common stock in an private placement offering at a price of $35.19 per share, with certain accredited investors, including funds affiliated with three of its directors and current investors, resulting in gross proceeds of approximately $155.0 million. The price per share was equal to the volume weighted average price for the ten-day period ending on March 17, 2016. There were no placement agents used for this financing. The sale and issuance of the shares of common stock in the private placement was made in reliance on the exemption afforded by Section 4(a)(2) under the Securities Act of 1933 and Regulation D promulgated under the Securities Act.

8. Income Taxes

Deferred tax assets and deferred tax liabilities are determined based on temporary differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is recorded against deferred tax assets if it is more likely than not that some portion or all of the deferred tax assets will not be realized.

For the three months ended March 31, 2015 and 2016, the Company did not record any current or deferred income tax provisions or benefits. Due to the uncertainty surrounding the future realization of the favorable tax attributes, the Company has recorded full valuation allowances against its otherwise recognizable net deferred tax assets at both December 31, 2015 and March 31, 2016.

Table of Contents

9. Intangible Assets

The following table presents intangible assets as of December 31, 2015 and March 31, 2016 (in thousands):


		December 31,		March 31,
	2015		2016		Estimated useful life
Intangible asset - OPKO milestone	$	15,000	$	15,000	8	Years
Less accumulated amortization		(268)		(732)
Total intangible asset, net	$	14,732	$	14,268

The Company recorded $0.5 million in amortization expense related to this intangible asset during the three months ended March 31, 2016. Estimated future amortization expense for intangible assets as of March 31, 2016 is $1.4 million for the remainder of 2016, $1.9 million per year for 2017, 2018, 2019, and 2020, and $5.5 million thereafter.

10. Commitments and Contingencies

The Company leases approximately 70,900 square feet of office space in Waltham, Massachusetts under a non-cancelable operating lease agreement. The term of the lease commenced April 1, 2013 and continues through June 30, 2017. The lease agreement provides for one month of free rent with respect to a portion of the leased premises and a tenant improvement allowance of $0.1 million. The Company recognizes rental expense on a straight-line basis over the respective lease term including any free rent periods and tenant allowances.

Future minimum rental commitments under the lease as of March 31, 2016 were $1.8 million and $1.2 million for the remainder of the year ending December 31, 2016 and for the year ending December 31, 2017, respectively.

The Company has entered into agreements with certain vendors for the provision of services, including services related to data management, clinical and commercial operation support and companion diagnostic development, that the Company is not contractually able to terminate for convenience and avoid any and all future obligations to the vendors. Under such agreements, the Company is contractually obligated to make certain minimum payments to the vendors, with the exact amounts in the event of termination to be based on the timing of the termination and the exact terms of the agreement.

The Company has certain obligations under licensing agreements with third parties that are contingent upon achieving various development, regulatory and commercial milestones. Pursuant to these license agreements, the Company is required to make milestone payments if certain development, regulatory and commercial sales milestones are achieved, and may have certain additional research funding obligations. Also, pursuant to the terms of each of these license agreements, when and if commercial sales of a product commence, the Company will pay royalties to its licensors on net sales of the respective products.

Legal Proceedings

The Company may periodically become subject to legal proceedings and claims arising in connection with ongoing business activities, including claims or disputes related to patents that have been issued or that are pending in the field of research on which the Company is focused. The Company is not a party to any litigation and does not have contingency reserves established for any litigation liabilities.

11. Collaboration Arrangements

In May 2015, the Company entered into a research agreement with Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc., or Merck, to perform a trial to evaluate the preliminary safety and efficacy of niraparib plus KEYTRUDA® in patients with triple negative breast cancer and patients with ovarian cancer. Under the terms of this agreement, the Company is responsible for providing niraparib study materials and for carrying out clinical research activities. The Company and Merck share in the external costs of the study equally, with certain exceptions. The Company records cost-sharing payments due from Merck as reductions of research and development expense. During the three months ended March 31, 2016, the Company incurred $0.8 million in external costs related to this study, of which $0.4 million is reimbursable by Merck. At March 31, 2016, $0.9 million of cost-sharing receivable from Merck has been recorded in accounts receivable in the condensed consolidated balance sheets.

Table of Contents

12. Subsequent Events

On April 5, 2016, the Company entered into separate transactions with Janssen and its affiliate, Johnson & Johnson Innovation — JJDC, Inc., or JJDC, consisting of a collaboration and license agreement with Janssen, or the Collaboration Agreement, and a stock purchase agreement and investor agreement, each with JJDC, or the Stock Purchase Agreement and the Investor Agreement, respectively.

Under the terms of the Collaboration Agreement, the Company granted Janssen licenses under certain patent rights and know-how relating to niraparib, for prostate cancer worldwide, except for Japan. The Company retains all rights worldwide to develop and commercialize niraparib other than for prostate cancer.

The Company received a $35.0 million upfront license fee from Janssen in April 2016. Assuming successful development and commercialization of niraparib products for prostate cancer, the Company could receive up to an additional $415.0 million in clinical, regulatory and sales milestones as well as tiered, double-digit royalties on aggregate net sales of products in the field of prostate cancer. Janssen is responsible for conducting and funding all development and commercialization of niraparib for prostate cancer worldwide (excluding Japan), including research, development, manufacturing, regulatory and commercialization activities.

Under the terms of the Stock Purchase Agreement, the Company sold and issued 1,130,198 shares of common stock to JJDC on April 5, 2016 at a price per share of $44.24, for an aggregate purchase price of approximately $50.0 million. The price per share was equal to the volume weighted average price for the five-day period ending on April 4, 2016. There were no placement agents used, or any underwriting discounts or commissions paid in connection with the transaction.

Table of Contents

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The following information should be read in conjunction with the unaudited financial information and the notes thereto included in this Quarterly Report on Form 10-Q and the audited financial information and the notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015.

Except for the historical information contained herein, the matters discussed in this Quarterly Report on Form 10-Q may be deemed to be forward-looking statements that involve risks and uncertainties. We make such forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. In this Quarterly Report on Form 10-Q, words such as “may,” “will,” “expect,” “anticipate,” “estimate,” “intend,” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements.

Examples of forward looking statements contained in this report include statements regarding the following: our intent to in-license or acquire additional product candidates; our expectation that research and development and selling, general and administrative expenses will increase in the future; our expectations regarding the timing and design of our clinical development plans, the timing of regulatory filings, and the timing of data from clinical trials, with respect to each of our IV rolapitant, niraparib, TSR-042, and TSR-022 programs, particularly with respect to the expected timing of data from our niraparib NOVA trial and the expected timing of the submission of both the NDA and MAA for niraparib; our expected gross-to-net adjustment range for VARUBI®; our expectation that we will continue to incur significant expenses, and our expectation that our operating losses and negative cash flows will continue to increase for the foreseeable future; the expected impact of recent accounting pronouncements and guidance on our financial statements; and our needs for additional capital and the forecast of the period of time through which our financial resources will be adequate to support our operations.

Our actual results and the timing of certain events may differ materially from the results discussed, projected, anticipated or indicated in any forward-looking statements. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate may differ materially from the forward-looking statements contained in this Quarterly Report on Form 10-Q. In addition, even if our results of operations, financial condition and liquidity, and the development of the industry in which we operate are consistent with the forward-looking statements contained in this Quarterly Report on Form 10-Q, they may not be predictive of results or developments in future periods.

These forward-looking statements involve substantial risks and uncertainties that could cause actual future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the development or launch of any new pharmaceutical product and the execution and completion of clinical trials, uncertainties surrounding the timing of availability of data from our clinical trials, ongoing discussions with and actions by regulatory authorities, patient accrual rates for clinical trials, manufacturing and supply risks, and other matters that could affect the timing of data, the potential regulatory approval, or the commercial availability of our product candidates or the success of any product. The following information and any forward-looking statements should be considered in light of these factors and the factors discussed elsewhere in this Quarterly Report on Form 10-Q, including under the heading “Risk Factors,” and in light of factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2015.

We caution readers not to place undue reliance on any forward-looking statements made by us, which speak only as of the date they are made. We disclaim any obligation, except as specifically required by law and the rules of the SEC, to publicly update or revise any such statements to reflect any change in our expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

Overview

We are an oncology-focused biopharmaceutical company dedicated to improving the lives of cancer patients. We have in-licensed and are currently developing several oncology-related product candidates, including rolapitant, niraparib, and the product candidates under our immuno-oncology platform.

On September 1, 2015, our first commercial product, VARUBI, which is the oral formulation of rolapitant, was approved by the United States Food and Drug Administration, or FDA, for use in combination with other antiemetic agents in adults for the prevention of delayed nausea and vomiting associated with initial and repeat courses of

Table of Contents

emetogenic cancer chemotherapy, including, but not limited to, highly emetogenic chemotherapy. We commenced shipments of VARUBI to distributors in November 2015.

In February 2016, we and the Institute for Applied Cancer Science at The University of Texas MD Anderson Cancer Center, or MDACC, entered into an exclusive collaboration to discover and develop small molecule product candidates against undisclosed immuno-oncology targets. This collaboration is intended to leverage MDACC’s expertise in drug discovery and translational medicine and our oncology drug development and commercialization capabilities. Under terms of the agreement, we will receive exclusive worldwide rights to develop and commercialize any small molecule product candidates that result from this collaboration. MDACC will be responsible for conducting research activities aimed at identifying clinical candidates with defined characteristics targeting certain immuno-oncology targets. We will fund research, development, and commercialization expenses for this collaboration.

In April 2016, we entered into a global prostate cancer collaboration and license agreement, or the Collaboration Agreement, with Janssen Biotech, Inc., or Janssen, under which we granted Janssen licenses under certain patent rights and know-how relating to niraparib, for prostate cancer worldwide, except for Japan. We retain all rights worldwide to develop and commercialize niraparib outside of prostate cancer. In connection with the execution of the Collaboration Agreement, we received a $35.0 million upfront license fee from Janssen, and assuming successful development and commercialization of niraparib products for prostate cancer, we could receive up to an additional $415 million in clinical, regulatory and sales milestones as well as tiered, double-digit royalties on aggregate net sales of products in the field of prostate cancer. Janssen is responsible for conducting and funding all development and commercialization of niraparib in prostate cancer worldwide (excluding Japan), including research, development, manufacturing, regulatory and commercialization activities. We also entered into stock purchase and investor agreements with an affiliate of Janssen, Johnson & Johnson Innovation — JJDC, Inc., or JJDC, whereby we sold and issued 1,130,198 shares of our common stock to JJDC on April 5, 2016 at a price per share of $44.24, for an aggregate purchase price of approximately $50.0 million.

A summary description of our current products and product candidates is as follows:

Rolapitant is a potent and long-acting neurokinin-1, or NK-1, receptor antagonist for the prevention of chemotherapy induced nausea and vomiting, or CINV. The oral form of rolapitant, VARUBI, has been approved for commercialization in the United States, and we are also developing an intravenous, or IV, formulation of rolapitant. In March 2016, we submitted a new drug application, or NDA, for IV rolapitant to the FDA. We also submitted a Marketing Authorisation Application, or MAA, for oral rolapitant to the European Medicines Agency, or EMA, in March 2016.

Niraparib is an orally active and potent poly (ADP-ribose) polymerase, or PARP, inhibitor. We currently have several ongoing clinical trials evaluating niraparib for the treatment of ovarian or breast cancers, and we expect to initiate further clinical trials of niraparib during 2016. We are also collaborating with various other organizations to evaluate niraparib in combination with other therapeutics for the treatment of various cancers. Based on research related to PARP inhibitors generally, we believe that niraparib may also be active in the treatment of several other tumor types. We expect top-line data from our NOVA trial of niraparib to become available during the second quarter of 2016, and we are currently planning to submit an NDA and an MAA for niraparib in the second half of 2016.

Immuno-Oncology Platform: In March 2014, we added immuno-oncology programs to our portfolio of product candidates by entering into a collaboration and exclusive license agreement with AnaptysBio, Inc., or AnaptysBio, for the discovery and development of antibodies for several immuno-oncology targets. We submitted an investigational new drug application, or IND, for our first immuno-oncology antibody, TSR-042, which targets PD-1, to the FDA in December 2015, and we initiated a Phase 1, dose escalation study in March 2016. As part of our collaboration with AnaptysBio, we received exclusive rights to monospecific antibody product candidates targeting PD-1, TIM-3, and LAG-3 and bi-specific antibody product candidates targeting PD-1/TIM-3, PD-1/LAG-3 and an additional bi-specific combination. In addition, we plan to evaluate our immuno-oncology anti-tumor agents, such as TSR-042, in combination preclinical pharmacology studies with niraparib and other anti-tumor agents. We submitted an IND for our second immuno-oncology antibody, TSR-022, which targets TIM-3, in April 2016.

We commenced business operations in May 2010. Our operations to date have been primarily focused on organizing and staffing our company, raising capital, identifying, acquiring and developing product candidates, undertaking preclinical studies and clinical trials, manufacturing activities related to our product and product candidates,

Table of Contents

and the commercialization of VARUBI. We have only recently launched our first commercial product, and to date we have recorded limited revenues from product sales and a license related to the development of rolapitant in China. We have financed our operations primarily with net proceeds from public and private offerings of our common stock, private placements of our preferred stock and the issuance of convertible notes.

As of March 31, 2016, we had an accumulated deficit of $692.7 million. Our net losses were $90.8 million, $251.4 million, $171.0 million, and $92.4 million for the three months ended March 31, 2016 and the years ended December 31, 2015, 2014 and 2013, respectively. We expect to incur significant expenses and operating losses for the foreseeable future. Overall, assuming that we receive positive results from our ongoing NOVA Phase 3 trial of niraparib in ovarian cancer, we expect operating expenses to continue to increase throughout 2016 over current levels as we incur increased costs related to our ongoing commercialization activities including executing related marketing and promotional programs for the commercialization of VARUBI, costs related to the advancement of clinical trial and other development and regulatory activities under our current development programs such as IV rolapitant, niraparib, TSR-042 and TSR-022, costs related to the immuno-oncology development activities under our collaboration with AnaptysBio, costs related to expanding our international operations, and costs related to other research and development activities and potential future collaborative or in-licensed development programs. In addition, future license payments or milestone payments could cause our total operating expenses and cash usage to fluctuate. If we obtain regulatory approval for any of our product candidates in addition to VARUBI, or in anticipation of obtaining regulatory approval, we expect that we will incur significant additional commercialization expenses related to product sales, marketing, manufacturing and distribution. Furthermore, we expect to incur increasing selling, general and administrative costs associated with our anticipated growth and continuing operation as a public company, and we will continue to incur substantial interest expense related to our outstanding convertible debt. The actual amount of many of the expenditures described above will depend on numerous factors, including the timing of expenses and the timing, progress, and results of our clinical trial activity (such as the niraparib Phase 3 NOVA trial results, which we expect in the second quarter of 2016) and commercialization efforts for VARUBI. Accordingly, until we can generate a sufficient amount of revenue from our products, if ever, we expect to finance our operations in part through additional public or private equity or debt offerings and may seek additional capital through arrangements with strategic partners or from other sources. Adequate additional financing may not be available to us on acceptable terms, or at all. Our failure to raise capital as and when needed would have a negative impact on our financial condition and our ability to pursue our business strategy. We will need to generate significant revenues to achieve profitability, and we may never do so.

Public Offerings of Common Stock, Private Placements of Securities and Issuance of Convertible Notes. As of March 31, 2016, our principal source of liquidity was cash and cash equivalents, which totaled $314.5 million. Since our inception on March 26, 2010, we have funded our operations primarily through public offerings of our common stock, the private placement of our equity securities and issuance of convertible notes. From inception through December 31, 2015, we received $758.3 million in proceeds, net of underwriting discounts and commissions and offering expenses, from private placements of convertible preferred stock, and public offerings of common stock and convertible notes. On March 18, 2016, we completed a private placement whereby we sold 4,404,658 shares of our common stock at a price of $35.19 per share and received approximately $155.0 million in proceeds. In addition, as noted above, on April 5, 2016, we completed a private placement whereby we sold 1,130,198 shares of our common stock at a price of $44.24 per share and received approximately $50.0 million in proceeds.

Financial Operations Overview

Product and License Revenue

Product revenue consists of sales of our product, VARUBI, in the United States.

License revenue relates to our license agreement with Jiangsu Hengrui Medicine Co., Ltd., or Hengrui, pursuant to which Hengrui has licensed the rights to develop, manufacture and commercialize rolapitant in China, including Hong Kong and Macao.

Research and Development Expenses

Research and development expenses consist primarily of costs incurred for the development of our product candidates, which include:

pre-commercial license fees and milestone payments related to the acquisition of in-licensed product candidates, which are reported on our statements of operations as acquired in-process research and development;

Table of Contents

employee-related expenses, including salaries, bonuses, benefits, travel and stock-based compensation expense;

fees and expenses incurred under agreements with contract research organizations, investigative sites, research consortia and other entities in connection with the conduct of clinical trials and preclinical studies and related services, such as administrative, data management, laboratory and biostatistics services;

fees and costs related to regulatory filings and operations;

facilities, depreciation and other expenses, which include direct and allocated expenses for rent, utilities, maintenance of facilities, insurance and other supplies; and

other costs associated with clinical, preclinical, discovery and other research activities.

Research and development costs are expensed as incurred. License fees and development milestone payments related to in-licensed products and technology are expensed as acquired in-process research and development if it is determined at that point that they have no established alternative future use. Costs for certain development activities, such as clinical trials, are recognized based on an evaluation of the progress to completion of specific tasks using data such as patient enrollment, clinical site activations or information provided to us by our vendors.

Research and development activities are central to our business model. Product candidates in later stages of clinical development generally have higher development costs than those in earlier stages of clinical development, primarily due to the increased size and duration of later-stage clinical trials and manufacturing costs. We expect that our total future research and development costs will continue to increase over current levels, depending on the progress of our clinical development programs as well as expected increasing costs associated with our collaborations with AnaptysBio and Merck, manufacturing related costs, and potential development milestone payments. More specifically, we expect costs to increase as we: continue our currently ongoing Phase 2 and 3 trials, continue our manufacturing development and validation, and initiate additional investigative and collaborative studies, related to niraparib; continue clinical, manufacturing and regulatory development activities for the IV formulation of rolapitant; incur potential research and development related milestones; incur increased discovery, development and manufacturing related expenses associated with our immuno-oncology platform; and hire additional development and scientific personnel.

We cannot determine with certainty the duration and completion costs of the current or future clinical trials of our product candidates or if, when, or to what extent we will generate revenues from the commercialization and sale of any of our product candidates that obtain regulatory approval. We may never succeed in achieving regulatory approval for any of our currently unapproved product candidates. The duration, costs and timing of clinical trials and development of our product candidates will depend on a variety of factors, including the uncertainties of future clinical and preclinical studies, uncertainties in clinical trial enrollment rates and significant and changing government regulation. In addition, the probability of success for each product candidate will depend on numerous factors, including competition, manufacturing capability and commercial viability. We will determine which programs to pursue and how much to fund each program in response to the scientific and clinical success of each product candidate, as well as based upon an assessment of each product candidate’s commercial potential. If we experience delays in the completion of, or the termination of, any clinical trial of our product candidates, the commercial prospects of our product candidates will be harmed, and our future ability to generate product revenues from any of these product candidates will be delayed or jeopardized. These occurrences would harm our business, financial condition and prospects, perhaps significantly, which would require us to alter our current operation plan and potentially delay, scale back, or discontinue the development or commercialization of one or more programs and/or other areas of the business in order to reduce our future expenses and continue to fund our remaining operations.

Table of Contents

The following table presents research and development expenses and acquired in-process research and development expenses on a program-specific basis for our in-licensed products and product candidates for the three months ended March 31, 2015 and 2016 (in thousands):


	Three Months Ended March 31,
	2015		2016
Rolapitant Expenses
Acquired in-process research and development	$	—	$	—
Research and development		7,018		5,774
Rolapitant total		7,018		5,774

Niraparib Expenses
Acquired in-process research and development		—		—
Research and development		12,977		24,703
Niraparib total		12,977		24,703

TSR-011 Expenses
Acquired in-process research and development		—		—
Research and development		1,277		541
TSR-011 total		1,277		541

Immuno-Oncology Platform Expenses
Acquired in-process research and development		—		4,000
Research and development		3,060		6,175
Immuno-Oncology Platform total		3,060		10,175

Personnel and Other Expenses		9,213		15,439

Total	$	33,545	$	56,632

For further discussion of the changes in our research and development expenses with respect to the three months ended March 31, 2016 and the corresponding period of 2015, see “Results of Operations — Comparison of the Three Months Ended March 31, 2015 and 2016 — Research and Development Expenses” below.

Personnel-related costs, depreciation and stock-based compensation are not allocated to any programs, as they are deployed across multiple projects under development and, as such, are separately classified as personnel and other expenses in the table above.

Selling, General and Administrative Expenses

Selling, general and administrative expenses consist principally of salaries and related costs, including stock-based compensation, for our commercial personnel, including our field sales force, certain medical education professionals and other commercial support personnel, as well as personnel in executive and other administrative or non-research and development functions. Other selling, general and administrative expenses include certain facility-related costs, communication expenses, pre-commercial and commercial consulting, advertising, market research and other activities necessary to prepare for and support the launch of VARUBI, and professional fees for legal, patent review, consulting and accounting services.

We anticipate that our selling, general and administrative expenses will continue to increase in the future in support of our commercial activities related to VARUBI and continued research and development activities, as well as the continued costs of operating as a public company. These increases will likely include increased costs related to the hiring of additional personnel, executing marketing and promotional programs, hiring consultants, and legal and other professional fees, among other expenses.

Other Income and Expense

Other income and expense consists primarily of interest expense related to the Convertible Notes and interest income earned on cash and cash equivalents. A portion of the interest expense on the Convertible Notes is non-cash expense relating to accretion of the debt discount and amortization of issuance costs.

Table of Contents

Results of Operations

Comparison of the Three Months Ended March 31, 2015 and 2016


	Three Months Ended March 31,				Increase/
	2015		2016		(Decrease)
	(in thousands)
Revenues:
Product revenue, net	$	—	$	173	$	173
License revenue		—		134		134
Total revenues		—		307		307


Expenses:
Cost of sales - product		—		76		76
Cost of sales - intangible asset amortization		—		464		464
Research and development		33,545		52,632		19,087
Selling, general and administrative		11,242		30,023		18,781
Acquired in-process research and development		—		4,000		4,000
Total expenses		44,787		87,195		42,408

Loss from operations		(44,787)		(86,888)		(42,101)
Other income (expense), net		(3,719)		(3,879)		(160)

Net loss	$	(48,506)	$	(90,767)	$	(42,261)

Product Revenue. We recorded $0.2 million of net product revenue for the three months ended March 31, 2016. No product revenue was recorded for the three months ended March 31, 2015. This amount relates to sales of VARUBI, our first commercial product, which we began shipping in November of 2015. Through March 31, 2016 we have recorded product revenue related to VARUBI that has been shipped by the specialty pharmacy to patients. We have not recorded any product revenue from shipments that we have made to our other direct customers, specialty distributors. We expect specialty distributors to comprise a majority of our ultimate product sales. We have not recognized product revenue for sales to the specialty distributors as we have concluded that we did not meet the revenue recognition criteria under current accounting guidance for these shipments, and we anticipate recognizing revenue on product sales to these customers at such time as we have concluded that we have met all applicable revenue recognition criteria under current accounting guidance. For further discussion regarding our revenue recognition policy, see the “Critical Accounting Policies” section below and Note 2, “Basis of Presentation and Significant Accounting Policies”, in the Notes to Condensed Consolidated Financial Statements. The corresponding costs of product sales for which we have not recognized product revenue have similarly not yet been reflected in the condensed consolidated statement of operations.

Since the launch of VARUBI, through March 31, 2016, we have shipped approximately 7,000 units for stocking and to satisfy reorders from distributors. Of these units, approximately 4,000 units were subsequently shipped from our distributors to providers and patients through March 31, 2016. The Wholesale Acquisition Cost, or WAC, which is the gross list price at which our direct customers purchase each unit of VARUBI, is $530 per unit. For product sales recognized to date, which, as described above, are comprised solely of units sold to the specialty pharmacy channel, the average net sales price per unit to us (after accounting for fees, rebates, chargebacks, and other discounts or reserves, or, the gross-to-net adjustment) was $355 or approximately 67% of WAC. We expect that our gross-to-net adjustment to revenues will be higher in the future as a result of changes to our customer and payer mix. Overall, we expect that our gross-to-net adjustments will increase throughout 2016 such that our average net sales price will represent around 60% of WAC per unit.

License Revenue. License revenue of $0.1 million for the three months ended March 31, 2016 relates to our license agreement with Hengrui, which we entered into in July 2015 and pursuant to which Hengrui has licensed the rights to develop, manufacture and commercialize rolapitant in China, including Hong Kong and Macao. No license revenue was recorded for the three months ended March 31, 2015.

Table of Contents

Cost of Sales - Product. Cost of sales of $0.1 million for the three months ended March 31, 2016 consists of costs of product shipped from our specialty pharmacy to providers and other third parties, as well as costs of product provided under our sampling and other commercial programs and certain period costs. No product cost of sales was recorded for the three months ended March 31, 2015.

Cost of Sales - Intangible Asset Amortization. Cost of sales of $0.5 million for the three months ended March 31, 2016 consists of amortization of the intangible asset recorded as a result of the $15.0 million milestone paid to OPKO upon the first commercial sale of VARUBI. No similar amortization was recorded for the three months ended March 31, 2015.

Research and Development Expenses. Research and development expenses were $52.6 million for the three months ended March 31, 2016, compared to $33.5 million for the three months ended March 31, 2015, an increase of $19.1 million. The increase was primarily due to higher external costs associated with our niraparib development efforts, development of TSR-042 and TSR-022 and our other immuno-oncology product candidates, as well as higher personnel and related costs. Significant changes resulting in this increase included:

an increase of $11.7 million in costs associated with our niraparib program primarily comprised of increased costs related to ongoing or new clinical trials and manufacturing development activities;

an increase of $3.1 million in costs associated with our immuno-oncology platform due to increased costs related to the TSR-042 Phase 1 clinical trial, biologics manufacturing as well as non-clinical and other immuno-oncology program research activities; and

an increase of $4.4 million in personnel and other costs (excluding stock-based compensation), primarily related to increased research and development headcount supporting the growth of our development activities.

In addition, stock-based compensation expense included in research and development expenses increased by $1.9 million, primarily due to increased awards of employee stock options and restricted stock units.

Selling, General and Administrative Expenses. Selling, general and administrative expenses were $30.0 million for the three months ended March 31, 2016, compared to $11.2 million for the three months ended March 31, 2015, an increase of $18.8 million. The increase was primarily due to increases of: $10.8 million in salaries, benefits and other personnel-related costs, primarily due to the hiring of sales, marketing, medical affairs and other support personnel associated with the commercialization of VARUBI; $4.5 million in professional and consulting fees and other expenses to support corporate operational and commercialization activities; and $3.5 million in stock-based compensation expense.

Acquired In-Process Research and Development. Acquired in-process research and development expenses were $4.0 million for the three months ended March 31, 2016, comprised of a milestone paid to AnaptysBio. Our obligation to pay this milestone was triggered by the clearance of our IND for TSR-042, which occurred in January 2016. There were no acquired in-process research and development expenses for the three months ended March 31, 2015.

Other Income (Expense), Net. Other income (expense) is primarily comprised of interest expense related to our Convertible Notes and interest income earned on cash and cash equivalents. Interest expense increased by $0.3 million in the three months ended March 31, 2016 due to the accretion of the debt discount, which is a component of interest expense, and the use of the effective interest method. Interest income increased by $0.1 million in the three months ended March 31, 2016.

Liquidity and Capital Resources

Sources of Liquidity

As of March 31, 2016, our principal source of liquidity was cash and cash equivalents, which totaled $314.5 million, exclusive of the $35.0 million upfront payment from Janssen Biotech, Inc. as well as the $50.0 million in proceeds from our sale of 1,130,198 shares of our common stock to Johnson & Johnson Innovation — JJDC, Inc., both of which we received in April of 2016 and which are more fully described above. Since our inception on March 26, 2010, we have funded our operations primarily through public offerings of our common stock, the private placement of our equity securities and the issuance of convertible notes. From inception through December 31, 2015, including our

Table of Contents

2012 initial public offering, we raised a total of $758.3 million in net cash proceeds from private placements of convertible preferred stock and public offerings of common stock, and convertible notes. On March 18, 2016, we issued an aggregate of 4,404,658 shares of our common stock in a private placement at a price of $35.19 per share and received approximately $155.0 million in proceeds.

Cash Flows

The following table sets forth the primary sources and uses of cash for each of the periods noted (in thousands):


	Three Months Ended March 31,
	2015		2016
Net cash provided by (used in):
Operating activities	$	(40,300)	$	(67,616)
Investing activities		(172)		(4,380)
Financing activities		182,757		156,310
Increase in cash and cash equivalents	$	142,285	$	84,314

Cash Flows from Operating Activities

The use of cash in operating activities during both the three months ended March 31, 2015 and 2016 resulted primarily from our net losses adjusted for non-cash charges and changes in components of working capital. Net cash used in operating activities increased by $27.3 million for the three months ended March 31, 2016 compared to the three months ended March 31, 2015, primarily due to increased external expenses related to commercialization activities and increased external research and development expenses as we continued to progress the niraparib development program and the immuno-oncology platform. Higher costs associated with increased employee headcount related to commercial preparation activities also contributed to the increase in cash used in operating activities. These factors were partially offset by lower external costs associated with our oral rolapitant development program.

Cash Flows from Investing Activities

The increase of $4.2 million in net cash used in investing activities for the three months ended March 31, 2016 compared to the three months ended March 31, 2015 was due primarily to a $4.0 million milestone payment to AnaptysBio, which was earned in January 2016.

Cash Flows from Financing Activities

The decrease of $26.4 million in net cash provided by financing activities for the three months ended March 31, 2016 compared to the three months ended March 31, 2015 was primarily due to cash proceeds of $155.0 million from the closing of our March 2016 private placement of common stock, compared to cash proceeds of $180.0 million in the prior year period from the closing of our March 2015 public offering of common stock (both amounts net of underwriting discounts and commissions and offering expenses, if any). In addition, cash proceeds from exercises of employee stock options decreased by $1.5 million during the current year period.

Operating Capital Requirements

We expect to incur significant expenses and operating losses for the foreseeable future. Overall, we expect 2016 operating expenses to increase over current levels as we incur increased costs related to the continued development of IV rolapitant, costs related to the advancement of our clinical trials and other development activities under our current development programs, such as niraparib and the immuno-oncology activities under our collaboration with AnaptysBio, costs related to ongoing commercial activities, including our commercial sales force, executing marketing and promotional programs and other commercialization costs associated with VARUBI, costs related to expanding our international operations, and costs related to potential future in-licensed development programs. We are subject to the risks incident in the development of new biopharmaceutical products, and we may encounter unforeseen expenses, difficulties, complications, delays and other unknown factors that may adversely affect our business and cause increased uses of cash.

We will require additional capital for the continuing commercialization of VARUBI, further development and potential commercialization of our other product candidates, including any license payments or milestone obligations that may arise, required costs relating to our March 2014 collaboration and exclusive license agreement with AnaptysBio, and cash interest obligations related to our Convertible Notes. We may also need additional funds to

Table of Contents

pursue our strategy of in-licensing or acquiring additional product candidates and to meet our obligation to repay the Convertible Notes at maturity or, at our election, upon conversion. On March 18, 2016, we issued an aggregate of 4,404,658 shares of our common stock in a private placement at a price per share of $35.19 for gross proceeds of approximately $155.0 million. On April 5, 2016, we issued 1,130,198 shares of our common stock in a private placement at a price per share of $44.24 for gross proceeds of approximately $50.0 million. The funds we received upon closing of these private placements, coupled with our existing cash and cash equivalents and the cash we expect to generate from sales of VARUBI, are expected to be sufficient to meet our existing cash flow requirements and fund our existing operations at their currently planned levels through at least the 12 months following the filing of this Quarterly Report on Form 10-Q.

Unless and until we can generate a sufficient amount of revenue from our products, we expect to finance future cash needs through public or private equity or debt offerings and may seek additional capital through arrangements with strategic partners or from other sources. Additional capital may not be available on reasonable terms, if at all. If we are unable to raise additional capital in sufficient amounts or on terms acceptable to us, we would have to significantly delay, scale back or discontinue the development or commercialization of one or more of our product candidates and/or other areas of our business. Raising additional funds through the issuance of equity or debt securities could result in dilution to our existing stockholders, increased fixed payment obligations, or both. Furthermore, these securities may have rights senior to those of our common stock and Convertible Notes and could contain covenants that would restrict our operations and potentially impair our competitiveness, such as limitations on our ability to incur additional debt, limitations on our ability to acquire, sell or license intellectual property rights and other operating restrictions that could adversely impact our ability to conduct our business. Any of these events could significantly harm our business, financial condition and prospects.

Our forecast of the period of time through which our financial resources will be adequate to support our operations is a forward-looking statement and involves risks and uncertainties, and actual results could vary as a result of a number of factors. We have based this estimate on assumptions that may prove to be wrong, and we could utilize our available capital resources sooner than we currently expect. Our future funding requirements, both short and long-term, will depend on many factors, including:

our ability to generate revenues from sales of VARUBI and future products;

the cost of establishing U.S. and ex-U.S. sales, marketing and distribution capabilities for VARUBI or any product candidates for which we may receive regulatory approval;

the outcome, timing and cost of regulatory approvals by the FDA and comparable non-U.S. regulatory authorities, including the potential that the FDA or comparable non-U.S. regulatory authorities may require that we perform more studies than those that we currently expect;

the initiation, progress, timing, costs and results of clinical trials for our product candidates and any future product candidates we may in-license, including our current and potential future Phase 2 and 3 clinical trials for niraparib;

the cost and timing of completion of commercial-scale outsourced manufacturing activities;

the discovery, preclinical and clinical development plans that are or will be established for potential product candidates under our collaboration with AnaptysBio;

the attainment of milestones and our obligations to make milestone payments, royalty payments, or both to OPKO, Merck, or AnaptysBio or to any other future product candidate licensor, if any, under our in-licensing agreements;

the number and characteristics of product candidates that we in-license and develop;

the cost of filing, prosecuting, defending and enforcing any patent claims and other intellectual property rights;

the amount and timing of potential conversion requests, if any, and interest expense associated with our Convertible Notes; and

Table of Contents

the effect of competing technological and market developments.

If we lack sufficient capital to expand our operations or otherwise capitalize on our business opportunities, our business, financial condition and results of operations could be materially adversely affected.

Contractual Obligations and Commitments

There have been no material changes to our contractual obligations and commitments included in our Annual Report on Form 10-K for the year ended December 31, 2015.

Off-Balance Sheet Arrangements

As of March 31, 2016, we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K.

Critical Accounting Policies

Our management’s discussion and analysis of our financial condition and results of operations are based on our financial statements, which have been prepared in accordance with U.S. generally accepted accounting principles. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in our financial statements. On an ongoing basis, we evaluate our estimates and judgments, including those related to net product revenue, accrued research and development expenses and stock-based compensation expense. We base our estimates on historical experience, known trends and events and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. In making estimates and judgments, management employs critical accounting policies.

Product Revenue

In September 2015, our product VARUBI, which is the oral formulation of rolapitant, was approved for sale by the FDA, and in November 2015 we began shipping VARUBI to our U.S. customers. We distribute our product in the U.S. principally through a limited number of specialty distributors and to a lesser extent though the specialty pharmacy channel, or collectively, our Customers. Our Customers subsequently resell our products to health care providers and payers.

Revenues from product sales are recognized when persuasive evidence of an arrangement exists, delivery has occurred and title of the product and associated risk of loss has passed to the customer, the price is fixed or determinable, collection from the customer has been reasonably assured and all performance obligations have been met and returns and allowances can be reasonably estimated. Product revenues are recorded net of estimated rebates, chargebacks, discounts, co-pay assistance and other deductions as well as estimated product returns. Allowances are recorded as a reduction of revenue at the time product revenues are recognized.

In addition to distribution agreements with our Customers, we have entered into direct and indirect arrangements with many health care providers and payers that provide for government-mandated and/or privately-negotiated rebates, chargebacks and discounts with respect to the purchase of VARUBI. Due to the short period of time since the launch of VARUBI, and with the exception of actual payer data provided to us by the specialty pharmacy channel, we do not yet have sufficient actual historical data regarding the ultimate third-party payer mix and resulting rebates related to shipments of VARUBI to our Customers. Therefore, we are not yet otherwise able to reasonably make estimates related to payer mix and resulting rebates for specialty distributor Customers. In addition, one of the key elements to meet certain of the revenue recognition criteria is to have the necessary volume of activity to provide sufficient visibility into the distribution channel and the ultimate utilization of the product, such that we are able to determine a reasonable estimate of potential returns. At March 31, 2016, we have therefore determined that we do not yet have sufficient visibility to reliably make certain estimates necessary to recognize net product revenues with respect to shipments of VARUBI to certain Customers. Accordingly, we have determined that revenue related to shipments to specialty distributors, for which we have received payment, should be deferred.

With respect to shipments into the specialty pharmacy channel, for which we receive payer data once the specialty pharmacy ships VARUBI to providers and other third parties, we have determined that revenue from sales to

Table of Contents

the specialty pharmacy will be recognized once the product has been shipped by the specialty pharmacy to the third party. For such specialty pharmacy sales, allowances for government and non-government rebates and discounts are established based on the actual payer information, which is known at the time of shipment to patients or providers, as well as the related contracted discount rates applicable to each. In certain cases an estimate of utilization of the rebate by the patient within each payer group is needed and is estimated based on market research data. During the three months ended March 31, 2016, we recognized $0.2 million in net product revenues related to VARUBI sales through the specialty pharmacy channel.

Payments received from Customers in advance of recognition of revenue are recorded as deferred revenue by the Company net of payments made to Customers, providers and payers.

For those quantities shipped to our customers for which revenue has not been recognized, the cost of the related units has been accounted for within “Other current assets” in the condensed consolidated balance sheets, and will be recorded to cost of sales upon recognition of the related product revenue. We will assess the recoverability of these costs on a quarterly basis. We will continue to evaluate the criteria for revenue recognition in future periods to determine if and when we have met these criteria with respect to any previously deferred product revenues.

The following table presents an analysis of product sales allowances and accruals for the three months ended March 31, 2016 (in thousands):


				Governmental
		Chargebacks,		and Other
		Discounts and		Rebates and
		Fees		Fees		Returns		Total
Balance at December 31, 2015	$	-	$	-	$	-	$	-
Provision related to current period sales		39		47		-		86
Adjustment related to prior period sales		-		-		-		-
Credits or payments made		(23)		(10)		-		(33)
Balance at March 31, 2016	$	16	$	37	$	-	$	53

Total gross product sales							$	259

Total provision for product sales allowances and
accruals as a percentage of total gross product sales								33%

Allowances and accruals are comprised of direct and indirect fees, discounts and rebates. Direct fees, certain discounts and rebates are contractual fees and price adjustments payable to specialty distributors and specialty pharmacies that purchase products directly from us. Indirect fees, discounts and rebates are contractual price adjustments payable to healthcare providers and organizations, such as physicians, clinics, hospitals, and group purchasing organizations that purchase products from specialty distributors and specialty pharmacies. Indirect rebates also include amounts owed to health insurance providers and pharmacy benefit managers. Both types of allowances are based on definitive contractual agreements or legal requirements (such as Medicaid) related to the purchase and/or utilization of the product by these entities. In accordance with guidance related to accounting for fees and consideration given by a vendor to a customer (including a reseller of a vendor’s products), these fees, discounts and rebates are presumed to be a reduction of the selling price of our product. Allowances are recorded in the same period that the related product revenue is recognized and are estimated using either historical, actual and/or other data, including estimated patient usage, customer buying patterns, applicable contractual rebate rates, and contract performance by the benefit providers. Reserve estimates are evaluated quarterly and may require adjustments to better align estimates with actual results. As part of this evaluation, we review changes to federal legislation, changes to rebate contracts, changes in the level of discounts, and changes in product sales trends. Although allowances are accrued at the time of product sale, certain rebates are typically paid out, on average, up to six months or longer after the related sale.

Chargebacks, Discounts and Fees: Chargeback and discount reserves represent our estimated obligations resulting from the difference (which is charged to us by specialty distributors and specialty pharmacies) between the specialty distributor and specialty pharmacy price and the lower pricing as mandated by statute to eligible federally funded healthcare providers or lower contractual pricing to certain private organizations. Fees

Table of Contents

under our arrangements with specialty distributors and specialty pharmacies are based upon units of VARUBI purchased during the prior month.

Governmental and Other Rebates and Fees: Governmental and other rebate and fee reserves relate to our reimbursement arrangements with state Medicaid programs, the Medicare program, or volume or performance rebate agreements with certain other private organizations, such as health insurance providers and pharmacy benefit managers.

Returns: Consistent with industry practice, we generally offer Customers a limited right to return units of VARUBI that have been purchased directly from us based on the product’s expiration date, which generally lapses upon shipment to the patient. To date, there have been no returns. Net product revenue for the three months ended March 31, 2016 relates to sales to the specialty pharmacy, once the product has been shipped by the specialty pharmacy to a patient.

For a description of our other critical accounting policies, please see “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in our Annual Report on Form 10-K for the year ended December 31, 2015. Other than as described above, there have not been any material changes to our critical accounting policies since December 31, 2015.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

We are exposed to market risk related to changes in interest rates. As of March 31, 2016 and December 31, 2015, we had cash and cash equivalents of $314.5 million and $230.1 million, respectively, consisting primarily of money market funds. Our primary exposure to market risk is interest rate sensitivity, which is affected by changes in the general level of United States interest rates, particularly because our investments are in short-term securities. Our securities are subject to interest rate risk and will fall in value if market interest rates increase. Due to the short-term duration of our investment portfolio and the low risk profile of our investments, an immediate 100 basis point change in interest rates would not have a material effect on the fair market value of our portfolio. There has been no material change to our interest rate sensitivity during the three months ended March 31, 2016.

Item 4. Controls and Procedures.

Management’s Evaluation of our Disclosure Controls and Procedures

Our principal executive officer and our principal financial officer, after evaluating the effectiveness of our “disclosure controls and procedures” (as defined in the Securities Exchange Act of 1934, as amended, or the Exchange Act, Rule 13a-15(e) or Rule 15d-15(e)), with the participation of our management, has concluded that, as of the end of the period covered by this Quarterly Report on Form 10-Q, our disclosure controls and procedures are effective and are designed to ensure that information we are required to disclose in the reports that we file or submit under the Exchange Act is accumulated and communicated to management, including our principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure, and is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms. It should be noted that any system of controls is designed to provide reasonable, but not absolute, assurances that the system will achieve its stated goals under all reasonably foreseeable circumstances. Our principal executive officer and principal financial officer have concluded that our disclosure controls and procedures are effective at a level that provides such reasonable assurances.

Changes in Internal Control Over Financial Reporting

There were no changes in our internal control over financial reporting that occurred during the fiscal quarter covered by this report that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Table of Contents

PART IIOTHER INFORMATION

Item 1. Legal Proceedings.

We are not currently a party to any material legal proceedings.

Item 1A. Risk Factors.

An investment in our stock involves a high degree of risk. You should carefully consider the following discussion of risk factors, in its entirety, in addition to the other information contained in this Quarterly Report on Form 10-Q, our Annual Report on Form 10-K for the year ended December 31, 2015 and the other filings we make with the Securities and Exchange Commission, as well the information in our financial statements and the related notes. We cannot assure you that any of the events discussed in the risk factors below will not occur. These risks, or other events that we do not currently anticipate or that we currently deem immaterial, may have a material adverse effect on our business, prospects, financial condition and results of operations.

We have no manufacturing facility, and we are dependent on a limited number of third-party manufacturers for the manufacture of VARUBI® and our product candidates, as well as on a number of third parties for our supply chain. If we experience problems with any of these third parties, the manufacturing of VARUBI or our product candidates could be delayed, which could harm our ability to generate revenues from our approved products, our ability to obtain regulatory approval for our product candidates, and our results of operations.

We do not own or operate facilities for the manufacture of VARUBI or our product candidates. We currently have no plans to build our own clinical or commercial scale manufacturing capabilities. We currently work with one contract manufacturing organization, or CMO, Hovione, for the production of rolapitant drug substance used for VARUBI and IV rolapitant, and one other CMO, Patheon, for commercial production of VARUBI. We also currently work with two CMOs for the production of IV rolapitant drug product for our expected commercial needs for IV rolapitant.

As our drug development pipeline matures and we continue to commercialize VARUBI and, if approved, our other product candidates, including niraparib and IV rolapitant, we will have a greater need for clinical study and commercial manufacturing capacity. We have limited experience manufacturing pharmaceutical products on a commercial scale, and some of our suppliers will need to increase their scale of production to meet our projected needs for commercial manufacturing. For example, to meet our projected needs for commercial manufacturing of VARUBI, Patheon will need to increase scale of production. The development of commercial-scale manufacturing capabilities may require our third-party manufacturers to invest substantial additional funds and hire and retain the technical personnel who have the necessary manufacturing experience. Our third-party manufacturers may not successfully complete any required increase to existing manufacturing capacity in a timely manner, or at all. Because of the complex nature of our compounds, our manufacturers may not be able to manufacture our compounds at an acceptable cost or in sufficient quantities or in a timely manner necessary to make commercially successful products, or may require us to pay significant costs, including for capital improvements to their facilities. Therefore, successful commercialization of VARUBI or any of our product candidates, including niraparib and IV rolapitant, may require us to establish large-scale commercial manufacturing capabilities. If our contract manufacturers or other third parties fail to deliver VARUBI and our potential future products, including niraparib and IV rolapitant, for commercial sale on a timely basis, with sufficient quality, and at commercially reasonable prices, and we fail to find replacement manufacturers or to develop our own manufacturing capabilities, we may be required to delay or suspend commercialization of VARUBI or our other potential future products.

Existing inventory for niraparib drug substance and drug product from Merck provided the initial clinical trial material needed for our niraparib clinical program. We have agreements in place with CMOs for the further production of niraparib to meet our clinical supply needs. For preclinical development of our immuno-oncology antibody product candidates, we currently work with one CMO for the production of biologics. For each of our product candidates, we may elect to pursue arrangements with other CMOs for manufacturing clinical supplies for later-stage trials and for commercialization. We have not yet qualified alternate suppliers in the event the current CMOs we utilize are unable to scale production, or if we otherwise experience any problems with them. If we are unable to arrange for alternative third-party manufacturing sources, or to do so on commercially reasonable terms or in a timely manner, we may not be able to complete development of our product candidates, or market or distribute them.

Table of Contents

Reliance on third-party manufacturers entails risks to which we would not be subject if we manufactured product candidates or products ourselves, including reliance on the third party for regulatory compliance and quality assurance, the possibility of breach of the manufacturing agreement by the third party because of factors beyond our control (including a failure to synthesize and manufacture our product candidates or any products we may eventually commercialize in accordance with our specifications) and the possibility of termination or nonrenewal of the agreement by the third party, based on its own business priorities, at a time that is costly or damaging to us. In addition, the FDA and similar foreign authorities require that our product candidates and approved products, such as VARUBI, be manufactured according to cGMP and similar foreign standards. Any failure by our third-party manufacturers to comply with cGMP or failure to scale up manufacturing processes, including any failure to deliver sufficient quantities of product candidates in a timely manner, could lead to a delay in, or failure to obtain, regulatory approval of any of our product candidates. For example, one of our contract manufacturers of rolapitant IV for our expected commercial needs was recently issued a Form 483 following an FDA inspection of its facilities containing a number of inspection observations regarding such facilities. If the contract manufacturer fails or is unable to address and remediate these observations in a manner satisfactory to the FDA, such failure could potentially result in a delay in the expected timing of regulatory approval of rolapitant IV. In addition, any failure by our third-party manufacturers to comply with cGMP could be the basis for the FDA or an equivalent foreign regulatory authority to issue a warning or untitled letter, withdraw approvals for product candidates previously granted to us, or take other regulatory or legal action, including recall or seizure, total or partial suspension of production, suspension of ongoing clinical trials, refusal to approve pending applications or supplemental applications, detention of product, refusal to permit the import or export of products, injunction, or imposition of civil and criminal penalties.

Any significant disruption in our supplier relationships could harm our business. We source key materials from third parties, either directly through agreements with suppliers or indirectly through our manufacturers who have agreements with suppliers. There are a small number of suppliers for certain capital equipment and key materials that are used to manufacture our drug products and product candidates. Such suppliers may not sell these key materials to our manufacturers at the times we need them or on commercially reasonable terms. We do not have any control over the process or timing of the acquisition of these key materials by our manufacturers. Moreover, we currently do not have any agreements for the commercial production of these key materials. Any significant delay in the supply of a product candidate or its key materials for an ongoing clinical study could considerably delay completion of our clinical studies, product testing and potential regulatory approval of our product candidates. If our manufacturers or we are unable to purchase these key materials for VARUBI or for our product candidates after regulatory approval, the commercial launch of our product candidates could be delayed or there could be a shortage in supply, which would impair our ability to generate revenues from the sale of VARUBI or our product candidates.

Item 6. Exhibits.

The exhibits filed as part of this Quarterly Report on Form 10-Q are set forth on the Exhibit Index, which is incorporated herein by reference.

Table of Contents

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	TESARO, INC.


	By:	/s/ Leon O. Moulder, Jr.
		Leon O. Moulder, Jr.
		Chief Executive Officer
		(principal executive officer)

	Date:	May 6, 2016


	By:	/s/ Timothy R. Pearson
		Timothy R. Pearson
		Executive Vice President and Chief Financial Officer
		(principal financial officer)

	Date:	May 6, 2016

Table of Contents

EXHIBIT INDEX

Exhibit Number		Exhibit Description
4.1		Amendment No. 2 to the Second Amended and Restated Investors’ Rights Agreement, dated March 18, 2016.
4.2		Investor Agreement, dated March 18, 2016, by and among the Company, the investors named therein and Future Fund Investment Company No.4 Pty Ltd.
10.1		Stock Purchase Agreement, dated February 24, 2016, by and among the Company, the investors named therein and Future Fund Investment Company No.4 Pty Ltd.
10.2		Amendment No. 2 to Collaboration and Exclusive License Agreement, dated February 29, 2016 by and among the Company, TESARO Development, Ltd. and AnaptysBio, Inc.
31.1		Certification of principal executive officer pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as amended.
31.2		Certification of principal financial officer pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as amended.
32.1		Certification of principal executive officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2		Certification of principal financial officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

EX-101.INS		XBRL Instance Document
EX-101.SCH		XBRL Taxonomy Extension Schema Document
EX-101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document
EX-101.DEF		XBRL Taxonomy Extension Definition Linkbase Document
EX-101.LAB		XBRL Taxonomy Extension Label Linkbase Document
EX-101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document

EX-4.1 2 tsro-20160331ex41b8e0b99.htm EX-4.1 tsro_Ex4_1

Exhibit 4.1

Amendment No. 2

SECOND Amended and Restated INVESTORS’ RIGHTS Agreement

The Second Amended and Restated Investors’ Rights Agreement (as amended, the “Agreement”), dated as of June 6, 2011, among TESARO, INC., a Delaware corporation (the “Company”), the investors listed on Schedule A thereto (the “Investors”), OPKO Health, Inc., a Delaware corporation, and the persons listed on Schedule B thereto (the “Founders”), as amended by Amendment No. 1, dated as of July 7, 2011, is hereby amended by this Amendment No. 2 (this “Amendment”) as of March 18, 2016 (“Amendment Effective Date”). Any capitalized term used herein, but not defined herein, shall have the meaning of such term set forth in the Agreement.

WHEREAS, pursuant to Section 4.7 of the Agreement, the Company and the undersigned Investors desire to amend the Agreement as set forth below.

NOW, THEREFORE, the Company and the undersigned Investors hereby agree that the Agreement is hereby amended by this Amendment and further agree as follows:

1.AMENDMENTS

1.1 The definition of “Registrable Securities” set forth in Section 1 of the Agreement is hereby amended and restated by replacing such definition with the following definition:

“Registrable Securities” means (i) the Common Stock issuable or issued upon conversion of the Preferred Stock, (ii) any Common Stock of the Company issued as (or issuable upon the conversion or exercise of any warrant, right or other security that is issued as) a dividend or other distribution with respect to, or in exchange for, or in replacement of, the shares referenced in (i) above, and (iii) the Common Stock issued to KPCB Holdings, Inc., as nominee, NEA 15 Opportunities Fund, L.P., New Enterprise Associates 13, L.P. and InterWest Partners X, LP pursuant to the Stock Purchase Agreement, dated as of February 24, 2016, by and among the Company and the other parties thereto (the “2016 Private Placement”), excluding in all cases, however, any Registrable Securities sold by a person in a transaction in which his rights under Section 2 are not assigned. The number of shares of “Registrable Securities” outstanding shall be determined by the number of shares of Common Stock outstanding that are, and the number of shares of Common Stock issuable pursuant to then exercisable or convertible securities that are, Registrable Securities.

1.2Section 2.13 of the Agreement is hereby amended to include the following immediately prior to the period at the end of such section:

“; provided, however, that notwithstanding the foregoing, with respect to any Holder that purchased Registrable Securities in the 2016 Private Placement, such Holder shall be entitled to exercise any right provided for in this Section 2 until (i) three (3) years following March 18, 2016, (ii) as to such Holder, such earlier time following the second anniversary of March 18, 2016 at which such Holder (A) holds less than one percent (1%) of the Company’s outstanding Common Stock and (B) all Registrable Securities held by such Holder (together with any affiliate of the Holder with whom such Holder must aggregate its sales under Rule 144) can be sold in any three (3)-month period without registration in compliance with Rule 144 or (iii) the earlier consummation of a Liquidation Event, as that term is defined in the Company’s Restated Certificate”

2.JOINDER OF NEA 15 OPPORTUNITY FUND, L.P.

NEA 15 Opportunity Fund, L.P. hereby agrees to become, and is hereby made, a party to the Agreement, as amended hereby, with all the rights and obligations of an Investor thereunder and agrees to be bound by and subject to all of the terms, provisions and conditions contained in the Agreement from and after the Amendment Effective Date.

3.MISCELLANEOUS

Except as modified by this Amendment, which shall be effective as of the Amendment Effective Date, the Agreement shall remain in full force and effect, enforceable in accordance with its terms.

[signature page follows]

IN WITNESS WHEREOF, the Company has executed this Amendment as of the Amendment Effective Date.

COMPANY:

TESARO, Inc.

By: /s/ Joseph L. Farmer

Name: Joseph L. Farmer

Title: Senior VP and General Counsel

[Signature Page to Amendment No. 2 to Second Amended and Restated Investors’ Rights Agreement]

IN WITNESS WHEREOF, the undersigned Investors have executed this Amendment as of the Amendment Effective Date.

KPCB HOLDINGS, INC.,

as nominee

By: /s/ Paul Vronsky

Name: Paul Vronsky

Title: General Counsel

[Signature Page to Amendment No. 2 to Second Amended and Restated Investors’ Rights Agreement]

IN WITNESS WHEREOF, the undersigned Investors have executed this Amendment as of the Amendment Effective Date.

New Enterprise Associates 13, L.P.

By: NEA Partners 13, L.P., its general partner

By: NEA 13 GP, LTD, its general partner

By: /s/ Louis S. Citron

Name: Louis S. Citron

Title: Chief Legal Officer

NEA 15 Opportunity Fund, L.P.

By: NEA Partners 15-OF, L.P., its general partner

By: NEA 15 GP, LLC, its general partner

By: /s/ Louis S. Citron

Name: Louis S. Citron

Title: Chief Legal Officer

[Signature Page to Amendment No. 2 to Second Amended and Restated Investors’ Rights Agreement]

IN WITNESS WHEREOF, the undersigned Investors have executed this Amendment as of the Amendment Effective Date.

INTERWEST PARTNERS X, LP

By: InterWest Management Partners X, LLC, its general partner

By: /s/ Khaled A. Nasr

Name: Khaled A. Nasr

Title: Venture Member

[Signature Page to Amendment No. 2 to Second Amended and Restated Investors’ Rights Agreement]

EX-4.2 3 tsro-20160331ex420b1e410.htm EX-4.2 tsro_Ex4_2

Exhibit 4.2

INVESTOR AGREEMENT

THIS INVESTOR AGREEMENT (this “Agreement”) is made as of March 18, 2016, by and among TESARO, Inc., a Delaware corporation (the “Company”), The Northern Trust Company in its capacity as custodian (the “FF Investor”) for the Future Fund Investment Company No.4 Pty Ltd (ACN 134 338 926) of Level 43, 120 Collins Street, Melbourne, Victoria 3000 (the “FF Beneficial Investor”), the FF Beneficial Investor, Ally Bridge LB Healthcare Master Fund Limited and ABG Innovation III-SO Limited (together with Ally Bridge LB Healthcare Master Fund Limited, “Ally Bridge”).

WHEREAS, the Stock Purchase Agreement, dated as of February 24, 2016, by and between the Company and the Investors and the other parties thereto (the “Purchase Agreement”) provides for the issuance and sale by the Company to the Investors, and the purchase by the Investors, of a number of shares (such shares, the “Purchased Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”) at a price per share of the Per Share Price (as defined in the Purchase Agreement); and

WHEREAS, as a condition to consummating the transactions contemplated by the Purchase Agreement, each Investor and the Company have agreed upon certain rights and restrictions as set forth herein with respect to the Purchased Shares and other securities of the Company beneficially owned by such Investor and its Affiliates, and it is a condition to the closing under the Purchase Agreement that this Agreement be executed and delivered by the Investors and the Company.

NOW, THEREFORE, in consideration of the premises and mutual agreements hereinafter set forth, and for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

Section 1.

Definitions. As used in this Agreement, the following terms shall have the following meanings:

1.1

“Affiliate” means, with respect to any Person, another Person that controls, is controlled by or is under common control with such Person. A Person shall be deemed to control another Person if such Person possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise. For the purposes of this Agreement, in no event shall an Investor or any of its Affiliates be deemed Affiliates of the Company or any of its Affiliates, nor shall the Company or any of its Affiliates be deemed Affiliates of an Investor or any of its Affiliates. Further, each of the parties to this Agreement (other than the FF Beneficial Investor) acknowledges the FF Beneficial Investor and/or its Affiliates may have appointed a number of managers with discretionary mandates to invest and manage assets on behalf of the FF Beneficial Investor and/or its Affiliates. The obligations under this Agreement will not apply to any conduct by a manager taken on the FF Beneficial

Investor’s and/or its Affiliate’s behalf provided such conduct is on a discretionary basis.

1.2

“Agreement” shall have the meaning set forth in the Preamble to this Agreement, including all Exhibits attached hereto.

1.3

“Ally Bridge” shall have the meaning set forth in the Preamble to this Agreement.

1.4

“beneficial owner,” “beneficially owns,” “beneficial ownership” and terms of similar import used in this Agreement shall, with respect to a Person, have the meaning set forth in Rule 13d-3 under the Exchange Act (i) assuming the full conversion into, and exercise and exchange for, shares of Common Stock of all Common Stock Equivalents beneficially owned by such Person and (ii) determined without regard for the number of days in which such Person has the right to acquire such beneficial ownership.

1.5

“Business Day” means any day except Saturday, Sunday and any legal holiday or a day on which banking institutions in Boston, Massachusetts generally are authorized or required by law or other governmental actions to close.

1.6

“Change of Control” shall occur if: (a) any Third Party acquires directly or indirectly the beneficial ownership of any voting security of the Company, or if the percentage ownership of such person or entity in the voting securities of the Company is increased through stock redemption, cancellation or other recapitalization, and immediately after such acquisition or increase such Third Party is, directly or indirectly, the beneficial owner of voting securities representing more than fifty percent (50%) of the total voting power of all of the then outstanding voting securities of the Company; (b) a merger, consolidation, recapitalization, or reorganization of the Company is consummated, other than any such transaction that would result in stockholders or equity holders of the Company immediately prior to such transaction owning at least fifty percent (50%) of the outstanding securities of the surviving entity (or its parent entity) immediately following such transaction; (c) the stockholders or equity holders of the Company approve a plan of complete liquidation of the Company, or an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than pursuant to the transaction described above or to an Affiliate; or (d) individuals who, as of the date hereof, constitute the Board of Directors of the Company (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board of Directors of the Company (provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s shareholders, was recommended or approved by a vote of at

least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board).

1.7

“Closing Date” means the date on which the “Closing” (as defined in the Purchase Agreement) occurs.

1.8

“Common Stock” shall have the meaning set forth in the Preamble to this Agreement.

1.9

“Common Stock Equivalents” means any options, warrants or other securities or rights convertible into or exercisable or exchangeable for, whether directly or following conversion into or exercise or exchange for other options, warrants or other securities or rights, shares of Common Stock or any swap, hedge or similar agreement or arrangement that transfers in whole or in part, the economic risk of ownership of, or voting or other rights of, the Common Stock.

1.10

“Company” shall have the meaning set forth in the Preamble to this Agreement.

1.11

“Disposition” or “Dispose of” means any (i) pledge, sale, contract to sell, sale of any option or contract to purchase, purchase of any option or contract to sell, grant of any option, right or warrant for the sale of, or other disposition of or transfer of any shares of Common Stock, or any Common Stock Equivalents, including, without limitation, any “short sale” or similar arrangement, or (ii) swap or any other agreement or any transaction that transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of shares of Common Stock, whether any such swap or transaction is to be settled by delivery of securities, in cash or otherwise.

1.12

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder.

1.13

“Existing Registration Statement” shall have the meaning set forth in Section 2.1.

1.14

“FF Beneficial Investor” shall have the meaning set forth in the Preamble to this Agreement.

1.15

“FF Investor” shall have the meaning set forth in the Preamble to this Agreement.

1.16

“FF Side Letter” means the letter agreement in substantially the form attached as Exhibit D to the Purchase Agreement, to be entered into by and between the Company, the FF Beneficial Investor and the FF Investor

at the Closing (as defined in the Purchase Agreement), and as amended from time to time.

1.17

“Governmental Entity” means any court, agency, authority, department, regulatory body or other instrumentality of any government or country or of any national, federal, state, provincial, regional, county, city or other political subdivision of any such government or country or any supranational organization of which any such country is a member.

1.18

“Holder” means each Investor and any Permitted Transferee thereof (only for so long as such Person remains an Affiliate of such Investor), if any, in accordance with Section 6.8.

1.19

“Investor” means any of the FF Investor or Ally Bridge and “Investors” means both of the FF Investor and Ally Bridge.

1.20

“Law” or “Laws” means all laws, statutes, rules, regulations, orders, judgments, injunctions and/or ordinances of any Governmental Entity.

1.21

“Lock-Up Securities” shall have the meaning set forth in Section 4.1.

1.22

“Lock-Up Term” means the period from and after the date of this Agreement until the occurrence of any event set forth in Section 5.3.

1.23

“Permitted Transferee” means, with respect to each Investor, (i) an Affiliate of such Investor, (ii) the acquiring Person in the case of a Change of Control of such Investor; or (iii) in the case of the FF Investor and the FF Beneficial Investor, any Permitted Transferee (as defined in the FF Side Letter).

1.24

“Person” means any individual, limited liability company, partnership, firm, corporation, association, trust, unincorporated organization, government or any department or agency thereof or other entity, as well as any syndicate or group that would be deemed to be a Person under Section 13(d)(3) of the Exchange Act.

1.25

“Prospectus” means the prospectus forming a part of any Registration Statement, as supplemented by any and all prospectus supplements and as amended by any and all amendments (including post-effective amendments) and including all material incorporated by reference or explicitly deemed to be incorporated by reference in such prospectus.

1.26

“Prospectus Supplement” shall have the meaning set forth in Section 2.1.

1.27

“Purchase Agreement” shall have the meaning set forth in the Preamble to this Agreement, and shall include all Exhibits attached thereto.

1.28

“Purchased Shares” shall have the meaning set forth in the Preamble to this Agreement, and shall be adjusted for (i) any stock split, stock dividend, share exchange, merger, consolidation or similar recapitalization and (ii) any Common Stock issued as (or issuable upon the exercise of any warrant, right or other security that is issued as) a dividend or other distribution with respect to, or in exchange or in replacement of, the Purchased Shares.

1.29

“registers,” “registered,” and “registration” refer to a registration effected by preparing and filing a Registration Statement or similar document in compliance with the Securities Act, and the declaration or ordering of effectiveness of such Registration Statement or document by the SEC.

1.30

“Registrable Securities” means (i) the Purchased Shares, together with any shares of Common Stock issued in respect thereof as a result of any stock split, stock dividend, share exchange, merger, consolidation or similar recapitalization and (ii) any Common Stock issued as (or issuable upon the exercise of any warrant, right or other security that is issued as) a dividend or other distribution with respect to, or in exchange or in replacement of, the shares of Common Stock described in clause (i) of this definition, excluding in all cases, however, (A) any Registrable Securities if and after they have been transferred to a Permitted Transferee in a transaction in connection with which registration rights granted hereunder are not assigned, (B) any Registrable Securities in a public distribution or a public securities transaction, or (C) if an Investor and its Affiliates together own less than 500,000 Purchased Shares, such Investor’s Purchased Shares eligible for resale pursuant to Rule 144(b)(1)(i) under the Securities Act.

1.31

“Registration Expenses” means all expenses incurred by the Company in connection with the Prospectus Supplement pursuant to Section 2.1 or the Company’s compliance with Section 2.3, including, without limitation, all registration and filing fees, fees and expenses of compliance with securities or blue sky Laws (including reasonable fees and disbursements of counsel in connection with blue sky qualifications of any Registrable Securities), expenses of printing (i) certificates for any Registrable Securities in a form eligible for deposit with the Depository Trust Company or (ii) Prospectus if the printing of Prospectus is requested by Holders, messenger and delivery expenses, fees and disbursements of counsel for the Company and its independent certified public accountants (including the expenses of any management review, cold comfort letters or any special audits required by or incident to such performance and compliance), Securities Act liability insurance (if the Company elects to obtain such insurance), the reasonable fees and expenses of any special experts retained by the Company in connection with such registration, fees and expenses of other Persons retained by the Company and the

reasonable fees and expenses (such fees and expenses not to exceed $15,000 for all Holders, selected by the Holders of a majority of the Registrable Securities. In addition, the Company will pay its internal expenses (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit and the fees and expenses incurred in connection with the listing of the Purchased Shares to be registered on each securities exchange, if any, on which equity securities issued by the Company are then listed or the quotation of such securities on any national securities exchange on which equity securities issued by the Company are then quoted.

1.32

“Registration Statement” means any registration statement of the Company under the Securities Act that covers any of the Registrable Securities pursuant to the provisions of this Agreement, including the related Prospectus, all amendments and supplements to such registration statement (including post-effective amendments), and all exhibits and all materials incorporated by reference or explicitly deemed to be incorporated by reference in such Registration Statement.

1.33

“Required Period” means the period from and after the expiration of the Lock-Up Term until the earlier of (i) such time as all such Registrable Securities are sold under an effective Registration Statement or (ii) all such Registrable Securities are eligible for sale pursuant to Rule 144 and can be sold in no more than two transactions in a period of three months and one day in accordance with the volume limitations contained in Rule 144, as applicable.

1.34

“SEC” means the United States Securities and Exchange Commission.

1.35

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder.

1.36

“Selling Expenses” means all underwriting discounts and selling commissions applicable to the sale of Registrable Securities pursuant to this Agreement.

1.37

“Shares of Then Outstanding Common Stock” means, at any time, the issued and outstanding shares of Common Stock at such time, as well as all capital stock issued and outstanding as a result of any stock split, stock dividend, or reclassification of Common Stock distributable, on a pro rata basis, to all holders of Common Stock.

1.38

“Standstill Parties” shall have the meaning set forth in Section 3.1.

1.39

“Standstill Term” means the period from and after the date of this Agreement until the occurrence of any event set forth in Section 5.2.

1.40

“Third Party” means any Person (other than a Governmental Entity) other than each Investor, the Company or any of their respective Affiliates.

1.41

“Underwritten Offering” means a registration in which Registrable Securities are sold to an underwriter for reoffering to the public.

1.42

“Violation” shall have the meaning set forth in Section 2.7(a).

Section 2.

Registration Rights.

2.1

Prospectus Supplement. Subject to the terms and conditions in this Agreement, the Company shall use its commercially reasonable efforts to file no later than the date six (6) months after the Closing Date, a supplement to the Company’s Prospectus dated July 1, 2013 (the “Prospectus Supplement”) to the Company’s existing Registration Statement (File No. 333-189718) filed by the Company on July 1, 2013 (the “Existing Registration Statement”) to cover the registration of the Registrable Securities in order to permit or facilitate the sale and distribution of all of the Registrable Securities by the Holders; provided, however, that the Company shall not be obligated to file the Prospectus Supplement pursuant to this Section 2.1 if:

(a) the Company furnishes to the Holders a certificate signed by an authorized officer of the Company stating that (i) as of the date hereof, the Company expects to file a registration statement for the public offering of securities for the account of the Company (other than a registration of securities (x) issuable pursuant to an employee stock option, stock purchase or similar plan, (y) issuable pursuant to a merger, exchange offer or a transaction of the type specified in Rule 145(a) under the Securities Act or (z) in which the only securities being registered are securities issuable upon conversion of debt securities which are also being registered), provided, that the Company is actively employing good faith efforts to cause such registration statement to become effective, or (ii) the Company is engaged in a material transaction or has an undisclosed material corporate development, in either case, which would be required to be disclosed in the Prospectus Supplement, and in the good faith judgment of the Company’s Chief Executive Officer or Board of Directors, such disclosure would be materially detrimental to the Company and its stockholders at such time (in which case, the Company shall disclose the matter as promptly as reasonably practicable and thereafter file the Prospectus Supplement, and each Holder agrees not to disclose any information about such material transaction or undisclosed material corporate development to Third Parties until such disclosure has occurred or such information has entered the public domain other than through breach of this provision by such Holder), provided, however, that the Company shall have the right to only defer the filing of the Prospectus Supplement pursuant to this Section 2.1(a) until the date one hundred and twenty (120) days after the six (6) month anniversary of the Closing Date; or

remedied; it being understood that (i) a one-time, inadvertent and de minimis breach of Section 4 shall not be deemed to be a breach of the obligations and restrictions under Section 4 for purposes of this Section 2.1(b) and (ii) a de minimis breach of Section 3.1(a) hereof, or an inadvertent breach of Section 3.1(f) hereof arising from informal discussions covering general corporate or other business matters the purpose of which is not intended to effectuate or lead to any of the actions referred to in paragraphs (a) through (e) of Section 3.1, shall not be deemed to be a breach of the obligations and restrictions under Section 3.1 for purposes of this Section 2.1(b).

2.2

Continuous Effectiveness of Registration Statement. The Company will use its commercially reasonable efforts to keep the Existing Registration Statement and, once filed, the Prospectus Supplement continuously effective for the Required Period; provided, however, that if fifteen days prior to (or sooner at the election of the Company) the expiration of the Existing Registration Statement in accordance with Rule 415(a)(5) as promulgated under the Securities Act there remain Registrable Securities, the Company will use its commercially reasonable efforts to either file and have declared effective (if not automatically effective) a replacement Registration Statement on Form S-3 in accordance with Rule 415(a)(6) as promulgated under the Securities Act or a separate Registration Statement on Form S-3 or other appropriate form (which, for the avoidance of doubt, would be filed prior to the expiration of the Existing Registration Statement) (either such Registration Statement, the “Replacement Registration Statement”) to register the resale of the Registrable Securities and include in the prospectus (the “Replacement Prospectus”) for the Replacement Registration Statement the information contained, or to be contained, in the Prospectus Supplement, in which case the references in this Agreement to Prospectus Supplement shall mean the Replacement Prospectus.

2.3

Obligations of the Company. The Company shall:

(a) prior to filing the Prospectus Supplement or any amendments thereto, the Company shall furnish to the Holders and their counsel all such documents proposed to be filed, and any Holder shall have the opportunity to comment on any information pertaining solely to such Holder and its plan of distribution that is contained therein and the Company shall incorporate the comments reasonably requested by such Holder with respect to such information prior to filing the Prospectus Supplement or amendment;

(b) furnish to the Holders such numbers of copies of the Prospectus Supplement (including each preliminary prospectus or free writing prospectus, if applicable) in conformity with the requirements of the Securities Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them;

(d) notify the Holders promptly of any request by the SEC for the amending or supplementing of the Prospectus Supplement or for additional information

related thereto and promptly deliver to the Holders copies of any comments received from the SEC;

(e) notify the Holders promptly of any stop order suspending the effectiveness of the Prospectus Supplement or the initiation of any proceedings for that purpose, and use commercially reasonable efforts to obtain the withdrawal of any such order or the termination of such proceedings;

(f) use its commercially reasonable efforts to register and qualify the Registrable Securities under such other securities or blue sky Laws of such jurisdictions as shall be reasonably requested by the Holders, use its commercially reasonable efforts to keep each such registration or qualification effective, including through new filings, or amendments or renewals, during the Required Period, and notify the Holders of the receipt of any written notification with respect to any suspension of any such qualification; provided, however, that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a general consent to service of process in any such states or jurisdictions, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act;

(g) promptly notify each Holder of the occurrence of any event as a result of which the Prospectus Supplement includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing, and promptly prepare a supplement or amendment to the Prospectus Supplement or file any other required document so that, as thereafter delivered to the purchasers of such Registrable Securities, such Prospectus Supplement will not contain an untrue statement of material fact or omit to state any fact necessary to make the statements therein not misleading;

(h) upon reasonable notice and during normal business hours, subject to the Company receiving customary confidentiality undertakings or agreements from any Holder or other person obtaining access to Company records, documents, properties or other information pursuant to this Section 2.3(h), make available for inspection by a representative of such Holder and any attorneys or accountants retained by any such Holder, relevant financial and other records, pertinent corporate documents and properties of the Company, and use its commercially reasonable efforts to cause the officers, directors and employees of the Company to supply all information reasonably requested by any such representative, attorneys or accountants in connection with the Registration Statement;

(i) use its reasonable efforts to comply with all applicable rules and regulations of the SEC relating to the Prospectus Supplement and make generally available to its security holders earning statements satisfying the provisions of Section 11(a) of the Securities Act, provided that the Company will be deemed to have complied with this Section 2.3(i) with respect to such earning statements if it has satisfied the provisions of Rule 158;

(j) cause the Registrable Securities covered by the Prospectus Supplement to be listed on each securities exchange, if any, on which equity securities issued by the Company are then listed; and

(k) reasonably cooperate with each Holder and their respective counsel in connection with filings required to be made with the Financial Industry Regulatory Authority, Inc., if any.

2.4

Furnish Information. It shall be a condition precedent to the obligations of the Company to take any action pursuant to this Section 2 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself and the Registrable Securities held by it as shall be reasonably necessary to effect the registration of such Holder’s Registrable Securities.

2.5

No Underwritten Offering. Notwithstanding anything herein to the contrary, neither the Prospectus Supplement nor the plan of distribution for the Registrable Securities will contemplate, and the Company is not obligated to register the Registrable Securities for resale in, an Underwritten Offering.

2.6

Expenses. All Registration Expenses shall be borne by the Company. Solely to the extent that Company elects to pursue an Underwritten Offering, all Selling Expenses incurred in connection with any registration hereunder shall be borne by the Holders of Registrable Securities covered by a Registration Statement, pro rata on the basis of the number of Registrable Securities registered on their behalf in such Registration Statement.

2.7

Indemnification.

any state securities Law, or any rule or regulation promulgated under any state securities Law; provided, however, the Company shall not be liable in any such case for any such loss, claim, damage, liability or action to the extent that it (A) arises out of or is based upon a Violation which occurs solely in reliance upon and in conformity with written information furnished expressly for use in connection with such registration by such Holder; or (B) is caused by such Holder’s disposition of Registrable Securities during any period during which such Holder is obligated to discontinue any disposition of Registrable Securities as a result of any stop order suspending the effectiveness of the Existing Registration Statement or Prospectus Supplement of which such Holder has received written notice or during any period in which the effectiveness of the Existing Registration Statement or Prospectus Supplement has been suspended by the Company in order for the Company to amend the Existing Registration Statement or Prospectus Supplement and the Company has provided the Holders notice thereof. The Company shall pay, as incurred, any legal or other expenses reasonably incurred by any Person intended to be indemnified pursuant to this Section 2.7(a), in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the indemnity agreement contained in this Section 2.7(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without consent of the Company, which consent shall not be unreasonably withheld.

(b) Each Holder shall indemnify and hold harmless the Company, each of its directors, each of its officers who has signed the registration statement, each Person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act and the officers, directors, owners, agents and employees of such controlling Persons, any other Holder and any controlling Person of any such other Holder, against any losses, claims, damages or liabilities (joint or several) to which any of the foregoing Persons may become subject, under liabilities (or actions in respect thereto) which arise out of or are based upon any Violation, in each case to the extent (and only to the extent) that such Violation: (i) arises out of or is based upon a Violation which occurs solely in reliance upon and in conformity with written information furnished expressly for use in connection with such registration by such Holder; or (ii) is caused by such Holder’s disposition of Registrable Securities during any period during which such Holder is obligated to discontinue any disposition of Registrable Securities as a result of any stop order suspending the effectiveness of the Existing Registration Statement or Prospectus Supplement of which such Holder has received written notice. Each such Holder shall pay, as incurred, any legal or other expenses reasonably incurred by any Person intended to be indemnified pursuant to this Section 2.7(b), in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the indemnity agreement contained in this Section 2.7(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without consent of the Holder, which consent shall not be unreasonably withheld.

(c) Promptly after receipt by an indemnified party under this Section 2.7 of notice of the commencement of any action (including any action by a Governmental Entity) involving a claim referred to in this Section 2.7, such indemnified

party shall, if a claim in respect thereof is to be made against any indemnifying party under this Section 2.7, deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties that may be represented without conflict by one counsel) shall have the right to retain its own counsel, with the reasonable fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action, if prejudicial to its ability to defend such action, shall relieve such indemnifying party of any liability to the indemnified party under this Section 2.7, but the omission so to deliver written notice to the indemnifying party shall not relieve it of any liability that it may have to any indemnified party otherwise than under this Section 2.7.

(d) In order to provide for just and equitable contribution to joint liability in any case in which a claim for indemnification is made pursuant to this Section 2.7 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 2.7 provided for indemnification in such case, the Company and each Holder of Registrable Securities shall contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in proportion to the relative fault of the Company, on the one hand, and such Holder, severally, on the other hand; provided, however, that in any such case, no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation; provided further, however, that in no event shall any contribution under this Section 2.7(d) on the part of any Holder exceed the net proceeds received by such Holder from the sale of Registrable Securities giving rise to such contribution obligation, except in the case of willful misconduct or fraud by such Holder.

(e) The obligations of the Company and the Holders under this Section 2.7 shall survive the completion of any offering of Registrable Securities in a registration statement under this Agreement and otherwise.

Section 3.

Restrictions on Beneficial Ownership.

3.1

Standstill. During the Standstill Term each Investor and FF Beneficial Investor and their respective Affiliates (other than the FF Investor) (collectively, the “Standstill Parties”) shall not (and each Investor (other than the FF Investor) and the FF Beneficial Investor shall cause its Affiliates not to), without the prior written consent of the Board of Directors (or any committee thereof) of the Company, directly or indirectly:

(a) acquire, offer or propose to acquire, or agree to acquire, directly or indirectly, more than one percent (1%) of any class or series of any equity or convertible debt securities of the Company or any of its subsidiaries (whether by purchase, business combination, merger, consolidation, share exchange, joint venture or otherwise); provided, however, notwithstanding the foregoing, each Investor (together with its Affiliates) and the FF Beneficial Investor (together with its Affiliates), in each case, may acquire securities of the Company in regular brokerage transactions on the public securities market, such that when taken together with the securities purchased pursuant to the Purchase Agreement, such entity beneficially owns (within the meaning of Section 13(d)(1) of the Exchange Act) up to 9.9% of any class or series of any equity or convertible debt securities of the Company;

(b) solicit proxies or consents or become a “participant” in a “solicitation” (as such terms are defined in Regulation 14A under the Exchange Act) of proxies or consents with respect to securities of the Company or initiate any stockholder proposal with respect to the Company;

(c) seek to advise, control or influence the management, Board of Directors or policies of the Company or any of its subsidiaries (other than communications with the Company’s management with respect to the Company’s business in the ordinary course), or take action for the purpose of convening a stockholders meeting of the Company;

(d) make any proposal or any public announcement (including, for the avoidance of doubt, indirectly by means of communication with the press or media) relating to a tender or exchange offer for securities of the Company or any of its subsidiaries or relating to any business combination, acquisition, merger, consolidation, share exchange, sale of substantially all assets, liquidation, restructuring, recapitalization, or similar transaction involving the Company or its subsidiaries, or take any action that might require the Company to make a public announcement regarding any of the foregoing;

(e) form, join or in any way participate in a “group” as defined in Section 13(d)(3) of the Exchange Act for the purpose of acquiring, holding, voting or disposing of securities of the Company or any of its subsidiaries or taking any other actions restricted or prohibited under clauses (a) through (d) of this Section 3, or take any steps in connection therewith; or

(f) enter into any discussions, negotiations, arrangements or understandings with any third party (other than such Investor’s Affiliates) with respect to any of the actions restricted or prohibited under clauses (a) through (e) of this Section 3.

request shall be considered in good faith (provided that if the Company believes that such Investor has made a confidential proposal not meeting the requirements of clause (a), the Company will provide such Investor notice of such violation and such Investor shall have the opportunity to withdraw or otherwise negate such proposal to ensure compliance with the provisions of this Section 3), or (b) following June 30, 2016, making a proposal regarding a possible Transaction directly to the CEO or Board of Directors of the Company on a confidential basis, (2) acquiring or offering to acquire, seeking, proposing or agreeing to acquire any third party that owns any securities or assets of the Company or (3) acquiring any securities of the Company in connection with any mutual fund, pension plan or employee benefit plan managed on behalf of employees or former employees of the Company.

Section 4.

Restrictions on Dispositions.

4.1

Lock-Up. During the Lock-Up Term, without the prior approval of the Company, each Investor shall not, and shall cause its Affiliates not to, Dispose of (x) any of the Purchased Shares, together with any shares of Common Stock issued in respect thereof as a result of any stock split, stock dividend, share exchange, merger, consolidation or similar recapitalization, and (y) any Common Stock issued as (or issuable upon the exercise of any warrant, right or other security that is issued as) a dividend or other distribution with respect to, or in exchange or in replacement of, the shares of Common Stock described in clause (x) of this sentence (collectively, the “Lock-Up Securities”); provided, however, that the foregoing shall not prohibit such Investor from (A) transferring Lock-Up Securities to a Permitted Transferee or (B) Disposing of any Lock-Up Securities in order to reduce the beneficial ownership of the Standstill Parties or the FF Beneficial Investor to 19.9%, or such lesser percentage as advised in good faith and in writing by such Investor’s certified public accountants that would not require such Investor to include in its financial statements its portion of the Company’s financial results, of the Shares of Then Outstanding Common Stock or, in the case of the FF Beneficial Investor as advised in good faith and in writing by the FF Beneficial Investor to enable it to comply with applicable law or official undertaking.

4.2

Certain Tender Offers. Notwithstanding any other provision of this Section 4, this Section 4 shall not prohibit or restrict any Disposition of Shares of Then Outstanding Common Stock and/or Common Stock Equivalents by the Standstill Parties into (a) a tender offer by a Third Party which is not opposed by the Company’s Board of Directors (but only after the Company’s filing of a Schedule 14D-9, or any amendment thereto, with the SEC disclosing the recommendation of the Company’s Board of Directors with respect to such tender offer) or (b) an issuer tender offer by the Company.

Section 5.

Termination of Certain Rights and Obligations.

5.1

Termination of Required Period. Except for Section 2.7, which shall survive until the expiration of any applicable statutes of limitation, Section 2 shall terminate automatically and have no further force or effect upon the earliest to occur of:

(a) the expiration of the Required Period;

(b) the date on which the Common Stock ceases to be registered pursuant to Section 12 of the Exchange Act; and

5.2

Termination of Standstill Term. Section 3 shall terminate and have no further force or effect, upon the earliest to occur of:

(a) May 29, 2017;

(b) the date that the Company enters into a definitive agreement with respect to, or publicly announces that it plans to enter into, a transaction involving all or more than 50% of the Company’s equity securities or all or substantially all of the Company’s assets (whether by merger, consolidation, business combination, tender or exchange offer, recapitalization, restructuring, sale, equity issuance or otherwise); and

(c) the date that any person commences a tender or exchange offer that, if consummated, would make such person (or any of its affiliates) the beneficial owner (within the meaning of Section 13(d)(1) of the Exchange Act) of more than 50% of the Company’s equity securities;

provided, however, that if Section 3 terminates due to clause (b) above and such agreement is abandoned or the transactions contemplated by the agreement are not consummated, the restrictions contained in Section 3 shall again be applicable until otherwise terminated pursuant to this Section 6.2.

5.3

Termination of Lock-Up Term. Section 4 shall terminate and have no further force or effect upon the earliest to occur of:

(a) the date three (3) months after the Closing Date;

(b) the consummation by a Person or group of a Change of Control of the Company, which, in the case of a tender offer, shall be deemed to occur upon the commencement of a tender offer for all outstanding shares of Common Stock;

(d) a liquidation or dissolution of the Company.

5.4

Effect of Termination. No termination pursuant to any of Sections 6.1, 6.2, 6.3 or 6.4 shall relieve any of the parties (or the Permitted Transferee, if any) for liability for breach of or default under any of their respective obligations or restrictions under any terminated provision of this Agreement, which breach or default arose out of events or circumstances occurring or existing prior to the date of such termination.

Section 6.

Miscellaneous.

6.1

Governing Law; Submission to Jurisdiction. This Agreement and all claims or causes of action (whether in tort, contract or otherwise) that may be based upon, arise out of or relate to this Agreement or the negotiation, execution or performance of this Agreement (including any claim or cause of action based upon, arising out of or related to any representation or warranty made in or in connection with this Agreement) shall be governed by and construed in accordance with the Laws of the State of Delaware, without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the Laws of any jurisdiction other than the State of Delaware.

6.2

Waiver. Waiver by a party of a breach hereunder by another party shall not be construed as a waiver of any subsequent breach of the same or any other provision. No delay or omission by a party in exercising or availing itself of any right, power or privilege hereunder shall preclude the later exercise of any such right, power or privilege by such party. No waiver shall be effective unless made in writing with specific reference to the relevant provision(s) of this Agreement and signed by a duly authorized representative of the party granting the waiver.

6.3

Notices. All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon the earlier of actual receipt, or (a) personal delivery to the party to be notified, (b) when sent, if sent by electronic mail or facsimile during normal business hours of the recipient, and if not sent during normal business hours, then on the recipient’s next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) business day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next business day delivery, with written verification of receipt. All communications shall be sent to the respective parties at their address as set forth on Exhibit A hereto, or to such e-mail address, facsimile number or address as subsequently modified by written notice given in accordance with this Section 6.3.

6.4

Entire Agreement. This Agreement, the Purchase Agreement and in the case of the Company, the FF Investor and the FF Beneficial Investor, the FF Side Letter, contain the entire agreement among the parties with respect to the subject matter hereof and thereof and supersede all prior and contemporaneous arrangements or understandings, whether written or oral, with respect hereto and thereto. The provisions of the FF Side Letter will prevail over the provisions of this Agreement to the extent of any inconsistency.

6.5

Amendments. Any term of this Agreement may be amended or terminated only with the written consent of the Company, the Holders and the FF Beneficial Investor.

6.6

Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

6.7

Severability. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision.

6.8

Assignment.

(a) The rights of any Holder hereunder may be assigned in whole or in part (but only with all restrictions and obligations set forth in this Agreement) by a Holder to a Permitted Transferee which acquires at least 25,000 Registrable Securities (subject to adjustment in the event of any stock split, stock dividend, share exchange, merger, consolidation or similar recapitalization) from such Holder; provided, however, (i) such Holder shall, within five (5) days prior to such transfer, furnish to the Company written notice of the name and address of such Permitted Transferee, details of its status as a Permitted Transferee and details of the Registrable Securities with respect to which such registration rights are being assigned, (ii) the Permitted Transferee, prior to or simultaneously with such transfer or assignment, shall agree in writing to be subject to and bound by all restrictions and obligations set forth in this Agreement, (iii) the applicable Investor shall continue to be bound by all restrictions and obligations set forth in this Agreement and (iv) such transfer or assignment shall be effective only if immediately following such transfer or assignment the further disposition of such Registrable Securities by the Permitted Transferee is restricted under the Securities Act and other applicable securities Law.

(b) Except for an assignment of this Agreement by a Holder to a Permitted Transferee in accordance with Section 6.8(a), neither this Agreement nor any rights or duties of a party hereto may be assigned by such party, in whole or in part, without (a) the prior written consent of the Company in the case of any assignment by a Holder; or (b) the prior written consent of the Investors in the case of an assignment by the Company.

6.9

Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

6.10

Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

6.11

Third Party Beneficiaries. None of the provisions of this Agreement shall be for the benefit of or enforceable by any Third Party other than any Affiliate of an Investor. No Third Party with the exception of any Affiliate of an Investor shall obtain any right under any provision of this Agreement or shall by reason of any such provision make any claim in respect of any debt, liability or obligation (or otherwise) against any party hereto.

6.12

No Strict Construction. This Agreement has been prepared jointly and will not be construed against any party.

6.13

Remedies. The rights, powers and remedies of the parties under this Agreement are cumulative and not exclusive of any other right, power or remedy which such

parties may have under any other agreement or Law. No single or partial assertion or exercise of any right, power or remedy of a party hereunder shall preclude any other or further assertion or exercise thereof.

6.14

Specific Performance. The Company and each Investor hereby acknowledge and agree that the rights of the parties hereunder are special, unique and of extraordinary character, and that if any party refuses or otherwise fails to act, or to cause its Affiliates to act, in accordance with the provisions of this Agreement, such refusal or failure may result in irreparable injury to the Company or such Investor, as the case may be, the exact amount of which would be difficult to ascertain or estimate and the remedies at law for which would not be reasonable or adequate compensation. Accordingly, if any party refuses or otherwise fails to act, or to cause its Affiliates to act, in accordance with the provisions of this Agreement, then, in addition to any other remedy which may be available to any damaged party at law or in equity, such damaged party will be entitled to seek specific performance and injunctive relief, without posting bond or other security, and without the necessity of proving actual or threatened damages, which remedy such damaged party will be entitled to seek in any court of competent jurisdiction.

6.15

No Conflicting Agreements. Each Investor hereby represents and warrants to the Company that neither it nor any of its Affiliates is, as of the date of this Agreement, a party to, and agrees that neither it nor any of its Affiliates shall, on or after the date of this Agreement, enter into any agreement that conflicts with the rights granted to the Company in this Agreement. The Company hereby represents and warrants to each Holder that it is not, as of the date of this Agreement, a party to, and agrees that it shall not, on or after the date of this Agreement, enter into any agreement or approve any amendment to its organizational documents with respect to its securities that conflicts with the rights granted to the Holders in this Agreement. The Company further represents and warrants that the rights granted to the Holders hereunder do not in any way conflict with the rights granted to any other holder of the Company’s securities under any other agreements.

6.16

No Publicity. The parties hereto agree that the provisions of Section 4.1 of the Purchase Agreement shall be applicable to the parties to this Agreement with respect to any public disclosures regarding the proposed transactions contemplated hereby or by the Purchase Agreement or regarding the parties hereto or their Affiliates (it being understood that the provisions of Section 4.1 of the Purchase Agreement shall be read to apply to disclosures of information relating to this Agreement and the transactions contemplated hereby).

6.17

Limitation of Liability. IN NO EVENT WILL ANY PARTY BE LIABLE TO ANY OTHER PARTY (OR SUCH OTHER PARTY’S AFFILIATES) IN CONNECTION WITH THIS AGREEMENT FOR LOST REVENUE, LOST PROFITS, LOST SAVINGS, LOSS OF USE, DAMAGE TO GOODWILL, OR ANY CONSEQUENTIAL, INCIDENTAL, SPECIAL, EXEMPLARY, PUNITIVE OR INDIRECT DAMAGES UNDER ANY THEORY, INCLUDING CONTRACT, NEGLIGENCE, OR STRICT LIABILITY, EVEN IF THAT PARTY HAS BEEN PLACED ON NOTICE OF THE POSSIBILITY OF SUCH DAMAGES.

6.18

Construction. Whenever required by the context, any pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular

forms of nouns, pronouns, and verbs shall include the plural and vice versa. Reference to any agreement, document, or instrument means such agreement, document, or instrument as amended or otherwise modified from time to time in accordance with the terms thereof and, if applicable, hereof. A reference to any party hereto includes such party’s permitted assignees and/or the respective successors in title to substantially the whole of such party’s undertaking. All references to “Sections” and “Exhibits” contained in this Agreement are, unless specifically indicated otherwise, references to sections or exhibits of or to this Agreement. The recitals and exhibits to this Agreement form part of the operative provisions of this Agreement and references to this Agreement shall, unless the context otherwise requires, include references to the recitals and exhibits to this Agreement. As used in this Agreement, the following terms shall have the meanings indicated: (a) “day” means a calendar day; (b) “U.S.” or “United States” means the United States of America; (c) “dollar” or “$” means lawful currency of the United States; (d) “including” or “include” means “including without limitation”; and (e) references in this Agreement to specific laws includes the succeeding law, section, or provision corresponding thereto and the rules and regulations promulgated thereunder.

6.19 The FF Investor Limitation of Liability. The FF Investor enters into and is liable under (a) this Agreement, (b) any other document or agreement which the FF Investor may be required to provide under this Agreement and (c) any document or agreement executed by the Company or any other person as agent or attorney of the FF Investor under this Agreement only in its capacity as custodian for the FF Beneficial Investor, and to the extent that it is actually indemnified by the FF Beneficial Investor. To the extent this paragraph operates to reduce the amounts for which the FF Investor would otherwise be liable to any person, the FF Beneficial Investor will pay or procure the payment of such amounts to such person.

[signature page follows]

IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the date first above written.

COMPANY:

TESARO, INC.

By: /s/ Joseph L. Farmer

Name: Joseph L. Farmer

Title: Senior VP and General Counsel

IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the date first above written.

INVESTORS:

Ally Bridge LB Healthcare Master Fund Limited

By: /s/ Li Bin

Name: Li Bin

Title: Director

ABG Innovation III-SO Limited

By: /s/ Law Thin Ken

Name: Law Thin Ken

Title: Director

IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the date first above written.

FF INVESTOR:

EXECUTED on behalf of THE NORTHERN TRUST COMPANY (ABN 62 126 279 918), a company incorporated in the State of Illinois in the United States of America, in its capacity as custodian for Future Fund Investment Company No.4 Pty Ltd, by

Jonathan Carstens

being a person who, in accordance with the laws of that territory, is acting under the authority of the company in the presence of:

/s/ Talla Ansari

Signature of witness

TALLA ANSARI

Name of witness (block letters)

Level 43, 120 Collins St.,
Melbourne, VIC, 3000
Australia

Address of witness

Date: 25 February 2016

)

/s/ Jonathan Carstens

By executing this agreement the signatory warrants that the signatory is duly authorized to execute this agreement on behalf of THE NORTHERN TRUST COMPANY

IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the date first above written.

FF BENEFICIAL INVESTOR:

Signed for and on behalf of Future Fund Investment Company No.4 Pty Ltd by:

Paul Mann

/s/ Paul Mann

Name of Director

Signature of Director

25 February 2016

Date

EXHIBIT A

NOTICES

If to the Company:

1000 Winter Street

Suite #3300

Waltham, MA 02451

If to the FF Investor:

The Northern Trust Company

Level 47, 80 Collins Street

Melbourne VIC 3000 Australia

If to the FF Beneficial Investor:

Future Fund Investment Company No.4 Pty Ltd

Level 43, 120 Collins Street

Melbourne VIC 3000 Australia

If to Ally Bridge:

Unit 3002-04, 30th Floor, Gloucester Tower

The Landmark

15 Queen’s Road Central

Hong Kong

EX-10.1 4 tsro-20160331ex10155d481.htm EX-10.1 tsro_Ex10_1

Exhibit 10.1

STOCK PURCHASE AGREEMENT

	Table of Contents	Page
Section 1.	Purchase and Sale of Common Stock	1
1.1	Sale and Issuance of Common Stock	1
1.2	Closing; Delivery	1
1.3	Defined Terms Used in this Agreement	1
1.4	Construction	6
Section 2.	Representations and Warranties of the Company	6
2.1	Organization and Power	6
2.2	Authorization	6
2.3	No Conflicts; Consents and Approvals; No Violation	7
2.4	Broker’s Fee	8
2.5	Capitalization.	8
2.6	Valid Issuance; No Registration	9
2.7	SEC Documents; Financial Statements; Internal Controls and Procedures.	9
Section 3.	Representations and Warranties of the Purchasers	12
3.1	Organization	12
3.2	Authorization	12
3.3	No Conflicts; Consents and Approvals; No Violation	13
3.4	Broker’s Fee	13
3.5	Securities Law Matters.	13
3.6	Availability of Funds	14
3.7	Legends	15
3.8	HSR Obligations	15
Section 4.	Covenants	15
4.1	Public Announcements	15
4.2	Consents, Approvals and Filings	16
4.3	Further Assurances	18
4.4	Confidential Information	18
4.5	Notification of Certain Matters	18
4.6	Removal of Legends	19
Section 5.	Conditions to the Parties’ Obligations at Closing	19
5.1	Conditions to Obligations of Purchasers and the Company at the Closing	19
5.2	Additional Conditions to Obligations of the Purchasers at the Closing.	20
5.3	Additional Conditions to Obligations of the Company at the Closing.	21
Section 6.	Termination	21
6.1	Termination	21
6.2	Effect of Termination	22
6.3	Extensions; Waiver	22

Section 7.	Miscellaneous	22
7.1	Survival of Warranties	22
7.2	Successors and Assigns	23
7.3	Governing Law	23
7.4	Counterparts	23
7.5	Titles and Subtitles	23
7.6	Notices	23
7.7	No Finder’s Fees	24
7.8	Expenses	24
7.9	Waiver	24
7.10	Amendments	24
7.11	Severability	24
7.12	Delays or Omissions	25
7.13	Entire Agreement	25
7.14	Specific Enforcement	25
7.15	Exclusive Jurisdiction; Venue	25
7.16	Waiver of Jury Trial	26
7.17	Representations and Warranties of the FF Beneficial Investor	26
7.18	FF Investor Limitation of Liability	27

STOCK PURCHASE AGREEMENT

THIS STOCK PURCHASE AGREEMENT (this “Agreement”), is made as of February 24, 2016, by and among TESARO, Inc., a Delaware corporation (the “Company”), the investors listed on Exhibit A attached to this Agreement (each a “Purchaser” and together the “Purchasers”) and Future Fund Investment Company No.4 Pty Ltd, a proprietary limited company organized under the laws of Australia (the “FF Beneficial Investor”).

The parties hereby agree as follows:

Section 1.Purchase and Sale of Common Stock.

1.1Sale and Issuance of Common Stock. Subject to the terms and conditions of this Agreement, each Purchaser agrees to purchase at the Closing and the Company agrees to sell and issue to such Purchaser at the Closing, at a purchase price per share equal to the Per Share Price, the number of shares of the Company’s Common Stock, $0.0001 par value per share (the “Common Stock”), set forth opposite such Purchaser’s name on Exhibit A. The shares of Common Stock issued to the Purchasers pursuant to this Agreement shall be referred to in this Agreement as the “Shares.”

1.2Closing; Delivery.

(a)The purchase and sale of the Shares (the “Closing”) shall take place remotely via the exchange of documents and signatures on the later of (i) the fourth Business Day after the satisfaction or waiver of the conditions set forth in Section 5 (other than those conditions that by their nature are to be satisfied at the Closing) and (ii) March 18, 2016; or at such other time and place as the Company and the Purchasers mutually agree upon in writing.

(b)At the Closing, the Company shall deliver to each Purchaser the Shares purchased by such Purchaser, registered in the name of such Purchaser, against payment of the purchase price therefor set forth opposite such Purchaser’s name in Exhibit A by wire transfer to a bank account designated by the Company. The Company shall instruct its transfer agent to register the issuance of the Shares to such Purchaser as of the Closing.

1.3Defined Terms Used in this Agreement. In addition to the terms defined elsewhere in this Agreement, the following terms used in this Agreement shall be construed to have the meanings set forth or referenced below.

(a)“Affiliate” means, with respect to any Person, another Person that controls, is controlled by or is under common control with such Person. A Person shall be deemed to control another Person if such Person possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise. For the purposes of this Agreement, in no event shall a Purchaser or any of its Affiliates be deemed Affiliates of the Company or any of its Affiliates, nor shall the Company or any of its Affiliates be deemed Affiliates of a Purchaser or any of its Affiliates.

(b)“Antitrust Filing” means filings that may be required by the Company and the Purchasers, or their respective Affiliates, with the United States Federal Trade Commission and the Antitrust Division of the United States Department of Justice of a Notification and Report Form for Certain Mergers and Acquisitions (as that term is defined in the HSR Act) with respect to the transactions to occur under this Agreement, together with all required documentary attachments thereto (collectively, an “HSR Filing”), and any equivalent filings with foreign governmental authorities that may be required and advisable under any Merger Control Laws.

(c)“Business Day” means any day except Saturday, Sunday and any legal holiday or a day on which banking institutions in Boston, Massachusetts generally are authorized or required by law or other governmental actions to close.

(d)“Capital Stock” means, with respect to any Person, any and all shares, interests, participations, rights in, or other equivalents (however designated and whether voting or non-voting) of such Person’s capital stock, and any and all rights (other than any evidence of indebtedness), warrants or options exercisable or exchangeable for or convertible into such capital stock.

(e)“Encumbrance” means any security interest, lien, pledge, claim, charge, escrow, encumbrance, option, right of first offer, right of first refusal, preemptive right, mortgage, indenture, security agreement or other similar agreement, arrangement, contract, commitment, understanding, or obligation, whether written or oral, and whether or not relating in any way to credit or the borrowing of money.

(f)“Exchange Act” means the Securities Exchange Act of 1934, as amended, as in effect from time to time.

(g)“FF Beneficial Investor” shall have the meaning set forth in the Preamble to this Agreement.

(h) “FF Investor” means The Northern Trust Company, an Illinois company, in its capacity as custodian for the FF Beneficial Investor.

(i)“FF Side Letter” means the letter agreement by and among the Company, the FF Beneficial Investor and the FF Investor in substantially the form attached hereto as Exhibit D, as amended from time to time.

(j)“GAAP” means generally accepted accounting principles in the United States applied on a consistent basis.

(k)“Governmental Entity” means any court, agency, authority, department, regulatory body or other instrumentality of any government or country or of any national, federal, state, provincial, regional, county, city or other political subdivision of any such government or country or any supranational organization of which any such country is a member.

(l)“HSR Act” means the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the rules and regulations promulgated thereunder.

(m)“Investors’ Rights Agreement” means the Second Amended and Restated Investors’ Rights Agreement, dated as of June 6, 2011, among the Company and the stockholders party thereto, as amended and as may be amended and/or restated from time to time.

(n)“KPCB” means KPCB Holdings, Inc., as nominee.

(o)“Laws” mean all United States and foreign national, federal, state, and local laws, statutes, ordinances, rules, regulations, orders, treaties and decrees.

(p)“Material Adverse Effect” means any fact, circumstance, change, event, occurrence or effect that, individually, or in the aggregate with any such other facts, circumstances, changes, events, occurrences or effects, would have, or would reasonably be expected to have, a material adverse effect on (1) the financial condition, business, properties, assets, liabilities, or results of operations of the Company and its Subsidiaries, taken as a whole, or (2) the ability of the Company to perform in a timely manner its obligations under any of the Transaction Agreements or to consummate the transactions contemplated hereby or thereby; provided, however, that none of the following, in each case

determined on a Purchaser-by-Purchaser basis, shall constitute, or shall be considered in determining whether there has occurred, and no fact, circumstance, change, event, occurrence or effect resulting primarily from any of the following shall constitute, a Material Adverse Effect: (A) the announcement of the execution of this Agreement or the pendency of consummation of the transactions contemplated hereby, including the impact of any of the foregoing on the relationships, contractual or otherwise, of the Company or any of its Subsidiaries with customers or suppliers; (B) the Company’s compliance with the terms of, and taking any action required by, this Agreement, or taking or not taking any actions at the request of, or with the written consent of, such Purchaser; (C) acts or omissions of such Purchaser or its Affiliates after the date hereof; (D) changes in economic conditions or the capital or financial markets, whether as a whole or affecting the pharmaceutical or biotechnology industry or any other industries in which Company and its Subsidiaries conduct their business in particular, so long as such conditions do not adversely affect the Company and its Subsidiaries, taken as a whole, in a materially disproportionate manner relative to other similarly situated participants in the industries or markets in which the Company or its Subsidiaries operate; (E) any adoption, repeal, other change or proposal of any applicable Law or Order or of GAAP or the interpretation thereof after the date hereof so long as such conditions do not adversely affect the Company and its Subsidiaries, taken as a whole, in a materially disproportionate manner relative to other similarly situated participants in the industries or markets in which the Company or its Subsidiaries operate; (F) any failure by the Company to meet any published (whether by the Company or a third party) or internally prepared estimates of revenues, earnings or other performance measures or operating statistics, or any change in the Company’s credit rating or decline in the price of its Common Stock (it being understood that the foregoing shall not preclude such Purchaser from asserting that the facts or occurrences giving rise to or contributing to such failure, change or decline that are not otherwise excluded from the definition of Material Adverse Effect should be taken into account in determining whether there has been a Material Adverse Effect); and (G) any act of war or terrorism or other national or international calamity, hurricane, earthquake, flood or other natural disasters, acts of God or any change resulting from weather conditions so long as such conditions do not adversely affect the Company and its Subsidiaries, taken as a whole, in a materially disproportionate manner relative to other similarly situated participants in the industries or markets in which the Company or its Subsidiaries operate.

(q)“Merger Control Laws” means all Laws relating to antitrust or competition matters, or that are designed or intended to prohibit, restrict or regulate actions having the purpose or effect of monopolization or restraint of trade or lessening of competition.

(r)“NASDAQ” means the NASDAQ Global Select Market.

(s)“NEA Purchaser” means New Enterprise Associates 13, L.P. or NEA 15 Opportunity Fund, L.P. and “NEA Purchasers” means New Enterprise Associates 13, L.P. and NEA 15 Opportunity Fund, L.P.

(t)“New Investor Agreement” means the Investor Agreement, in substantially the form attached hereto as Exhibit B, to be entered into by the Company, the New Investors and the FF Beneficial Investor at the Closing.

(u)“New Investor” means the FF Investor, Ally Bridge LB Healthcare Master Fund Limited or ABG Innovation III-SO Limited and “New Investors” means the FF Investor, Ally Bridge LB Healthcare Master Fund Limited and ABG Innovation III-SO Limited.

(v)“Order” means any order, judgment, injunction, edict, decree, ruling, pronouncement, determination, decision, opinion, sentence, subpoena, writ or award issued, made, entered or rendered by any court, administrative agency or other Governmental Entity or by any arbitrator.

(w)“Per Share Price” means $35.19 per Share (which, for informational purposes, is the average of the volume weighted average price of the Common Stock for the 10 consecutive trading days ending on February 22, 2016).

(x)“Person” means any individual, firm, corporation, limited liability company, partnership, company or other entity, and shall include any successor (by merger or otherwise) of such entity.

(y)“Securities Act” means the Securities Act of 1933, as amended from time to time.

(z)“Subsidiary” means, with respect to any Person, any corporation, association or other business entity of which more than 50% of the voting power of the outstanding Voting Stock or of the membership interests is owned, directly or indirectly, by such Person and/or one or more other Subsidiaries of such Person.

(aa)“Transaction Agreements” means this Agreement, the IRA Amendment, the New Investor Agreement and the FF Side Letter.

(bb) “Voting Stock” means, with respect to any Person, Capital Stock of any class or kind ordinarily having the power to vote for the election of directors, managers or other voting members of the governing body of such Person.

1.4Construction. Whenever required by the context, any pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular forms of nouns, pronouns, and verbs shall include the plural and vice versa. Reference to any agreement, document, or instrument means such agreement, document, or instrument as amended or otherwise modified from time to time in accordance with the terms thereof and, if applicable, hereof. A reference to any party hereto includes such party’s permitted assignees and/or the respective successors in title to substantially the whole of such party’s undertaking. All references to “Sections,” “Schedules,” and “Exhibits” contained in this Agreement are, unless specifically indicated otherwise, references to sections, schedules, or exhibits of or to this Agreement. The recitals, schedules and exhibits to this Agreement form part of the operative provisions of this Agreement and references to this Agreement shall, unless the context otherwise requires, include references to the recitals, the schedules and exhibits to this Agreement. As used in this Agreement, the following terms shall have the meanings indicated: (a) “day” means a calendar day; (b) “U.S.” or “United States” means the United States of America; (c) “dollar” or “$” means lawful currency of the United States; (d) “including” or “include” means “including without limitation”; and (e) references in this Agreement to specific laws includes the succeeding law, section, or provision corresponding thereto and the rules and regulations promulgated thereunder.

Section 2.Representations and Warranties of the Company. The Company hereby represents and warrants to each Purchaser and the FF Beneficial Investor that the following representations are true and complete as of the date hereof and as of the Closing:

2.1Organization and Power. The Company is a corporation duly organized, validly existing and in good standing under the Laws of the State of Delaware and has the requisite corporate power and authority to carry on its business as it is now being conducted. Each of the Company and its Subsidiaries is duly qualified and licensed as a foreign corporation or other entity to do business, and is in good standing in each jurisdiction in which the character of its assets owned or held under lease or the nature of its business makes such qualification necessary, except where the failure so to qualify or be licensed would not, individually or in the aggregate, have a Material Adverse Effect.

2.2Authorization. The Company has the requisite corporate power and authority to enter into each of the Transaction Agreements and to

consummate the transactions contemplated hereby and thereby and otherwise to perform its obligations hereunder and thereunder. The execution and delivery by the Company of each of the Transaction Agreements, the issuance, sale and delivery of the Shares by the Company, the compliance by the Company with each of the provisions of each of the Transaction Agreements, and the consummation by the Company of the transactions contemplated hereby and thereby (a) are within the corporate power and authority of the Company (including such approval and authorization by the Company’s Board of Directors required under the Laws of the State of Delaware and Company’s certificate of incorporation and bylaws) and (b) have been duly authorized by all necessary corporate action of the Company and no further corporate action is required by the Company, its Board of Directors or its stockholders in connection therewith other than as may be necessary in connection with the Consents, Approvals and Filings. This Agreement has been, and the New Investor Agreement, the IRA Amendment and the FF Side Letter, when executed and delivered by the Company shall be, duly and validly executed and delivered by the Company. Assuming due authorization, execution and delivery by the Purchasers of the Transaction Agreements, this Agreement constitutes, and the New Investor Agreement, the IRA Amendment and the FF Side Letter, when executed and delivered by the Company shall each constitute, a legal, valid and binding agreement of the Company enforceable against the Company in accordance with its terms, except (i) as such enforcement is limited by bankruptcy, insolvency and other similar Laws affecting the enforcement of creditors’ rights generally and (ii) for limitations imposed by general principles of equity.

2.3No Conflicts; Consents and Approvals; No Violation. Neither the execution, delivery or performance by the Company of any of the Transaction Agreements nor the consummation by the Company of the transactions contemplated hereby or thereby shall (a) result in a breach or a violation of, or conflict with, any provision of the certificate of incorporation or bylaws of the Company or of the certificate of incorporation, bylaws or other organizational documents of any of its Subsidiaries; (b) assuming the making of all filings or notifications required under the Merger Control Laws, the receipt of all consents and approvals required under the Merger Control Laws and the expiration or termination of all waiting periods required under the Merger Control Laws, constitute, with or without notice or the passage of time or both, a breach, violation or default, create an Encumbrance, or give rise to any right of termination, modification, cancellation, prepayment, suspension, limitation, revocation or acceleration, under (i) any Law or (ii) any provision of any agreement or other instrument to which the Company or any of its Subsidiaries is a party or pursuant to which any of them or any of their assets or properties is subject, except for, in the case of each clause (i) and (ii), breaches, violations, defaults, Encumbrances, or rights of

termination, modification, cancellation, prepayment, suspension, limitation, revocation or acceleration, which, individually or in the aggregate, would not constitute a Material Adverse Effect; or (c) require any consent, Order, approval or authorization of, notification or submission to, filing with, license or permit from, or exemption or waiver by, any Governmental Entity or any other Person (collectively, the “Consents, Approvals and Filings”) on the part of the Company or any of its Subsidiaries, except for (w) the consents, approvals and filings required under the Securities Act, the Exchange Act and applicable state securities Laws, (x) the consents, approvals and filings required under rules of NASDAQ, (y) the consents, approvals and filings required under the Merger Control Laws, and (z) such other consents, approvals and filings which the failure of the Company or any of its Subsidiaries to make or obtain would not, individually or in the aggregate, constitute a Material Adverse Effect. The Company is not in violation of any term or provision of its certificate of incorporation or by-laws, and, other than any violation that would not, individually or in the aggregate, constitute a Material Adverse Effect, the Company is not in violation of any material term or provision of any agreement, indebtedness, mortgage, indenture, contract, Law or Order.

2.4Broker’s Fee. No agent, broker, investment banker or other Person is or shall be entitled to any broker’s or finder’s fee or any other commission or similar fee from the Company or any of its Subsidiaries in connection with any of the transactions contemplated by this Agreement to occur at the Closing.

2.5Capitalization.

(a)As of the date hereof, the authorized Capital Stock of the Company consists of (i) 100,000,000 shares of Common Stock, of which (x) 40,296,970 shares were issued and outstanding as of the close of business on February 22, 2016, (y) 10,624,855 shares are authorized for issuance pursuant to the Company’s stock incentive plans, of which, as of the close of business on February 22, 2016, 6,080,781 shares were issuable upon the exercise of outstanding stock options or upon the vesting and delivery of restricted stock units, and (z) additional shares are reserved for issuance upon the conversion of the Company’s outstanding 3.00% convertible senior notes due 2021 (“Senior Notes”); and (ii) 10,000,000 shares of the Preferred Stock, par value $0.0001 per share, 0 shares of which as of the date hereof are issued and outstanding. All of the issued and outstanding shares of Common Stock have been duly authorized and are validly issued, fully paid and non-assessable.

(b)As of the date hereof, except as contemplated by this Agreement (including as referred to in Section 2.5(a)), there are (i) no

authorized or outstanding securities, rights (preemptive or other), subscriptions, calls, commitments, warrants, options, or other agreements that give any Person the right to purchase, subscribe for, or otherwise receive or be issued Capital Stock of the Company or any security convertible into or exchangeable or exercisable for Capital Stock of the Company, (ii) no outstanding debt or equity securities of the Company that upon the conversion, exchange, or exercise thereof would require the issuance, sale, or transfer by the Company of any new or additional Capital Stock of the Company (or any other securities of the Company which, whether after notice, lapse of time, or payment of monies, are or would be convertible into or exchangeable or exercisable for Capital Stock of the Company) other than the Senior Notes, (iii) no agreements or commitments obligating the Company to repurchase, redeem, or otherwise acquire Capital Stock or other securities of the Company or its Subsidiaries, and (iv) no outstanding or authorized stock appreciation rights, phantom stock, stock rights, or other equity-based interests in respect of the Company.

(c)The Company has registered its Common Stock pursuant to Section 12(b) of the Exchange Act. The Common Stock is currently listed on NASDAQ.

2.6Valid Issuance; No Registration. The Shares, when issued, sold and delivered in accordance with the terms and for the consideration set forth in this Agreement, will be validly issued, fully paid and nonassessable and free of Encumbrances and restrictions on transfer other than restrictions on transfer under the Transaction Agreements, applicable state and federal securities laws and Encumbrances created by or imposed by the Purchasers. Assuming the accuracy of the representations and warranties of each Purchaser contained in Section 3, (a) subject to the consents, approvals and filings described in Section 2.3, the Shares will be issued in compliance with all applicable federal and state securities laws and (b) no registration of the Shares under the Securities Act and any applicable state securities law is required for the offer and sale of the Shares to any Purchaser in the manner contemplated by this Agreement.

2.7SEC Documents; Financial Statements; Internal Controls and Procedures.

(a)The Company has filed or furnished all forms, documents and reports required to be filed or furnished by it under the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, with the Securities and Exchange Commission (the “SEC”) on a timely basis since January 1, 2013 (together with any documents so filed or furnished during such period and the period between the date hereof and the Closing on a voluntary basis, in each case as may have been, or between the date hereof and the Closing may be, amended, and

including the exhibits thereto and documents incorporated by reference therein, the “SEC Documents”). Each of the SEC Documents, including all SEC Documents filed or furnished after the date hereof but prior to or on the Closing, complied or, if not yet filed, will comply, as to form in all material respects with the applicable requirements of the Securities Act, the Exchange Act and the Sarbanes-Oxley Act. As of the date filed or furnished with the SEC, none of the SEC Documents, including all SEC Documents filed or furnished after the date hereof but prior to or on the Closing, contained or, if not yet filed, will contain any untrue statement of a material fact or omitted, or if not yet filed, will omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. As of the date hereof, there are no material outstanding or unresolved comments received from the SEC with respect to any of the SEC Documents.

(b) The consolidated financial statements (including all related notes and schedules) of the Company included in the SEC Documents, and including all SEC Documents filed after the date hereof but prior to the Closing, fairly presented, or if not yet filed, will fairly present, in all material respects the consolidated financial position of the Company and its consolidated Subsidiaries, as at the respective dates thereof, and the consolidated results of their operations, their consolidated cash flows and changes in stockholders’ equity for the respective periods then ended (subject, in the case of the unaudited statements, to normal, immaterial year-end adjustments) and were prepared, or if not yet filed, will be prepared, in all material respects in conformity with GAAP (except, in the case of the unaudited financial statements, as permitted by the SEC) applied on a consistent basis during the periods referred to therein (except as may be indicated therein or in the notes thereto). Since January 1, 2015, subject to any applicable grace periods, the Company has been and is currently in compliance in all material respects with the applicable provisions of the Sarbanes-Oxley Act and the applicable rules and regulations of NASDAQ.

(c)The Company has designed and maintained disclosure controls and procedures and internal control over financial reporting (as such terms are defined in paragraphs (e) and (f), respectively, of Rule 13a-15 under the Exchange Act) as required by Rule 13a-15 under the Exchange Act and as necessary to permit preparation of financial statements in conformity with GAAP. The Company’s disclosure controls and procedures are reasonably designed to ensure that all material information required to be disclosed by the Company in the reports that it files or furnishes under the Exchange Act is recorded,

processed, summarized and reported within the time periods specified in the rules and forms of the SEC, and that all such material information is accumulated and communicated to the Company’s principal executive officer and its principal financial officer by others in the Company or its Subsidiaries to allow timely decisions regarding required disclosure and to make the certifications required pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act. The Company’s certifying officers have evaluated the effectiveness of the Company’s disclosure controls and procedures as of the end of the period covered by the Company’s most recently filed periodic report under the Exchange Act (such date, the “Evaluation Date”). The Company presented in its most recently filed periodic report under the Exchange Act the conclusions of the certifying officers about the effectiveness of the disclosure controls and procedures based on their evaluations as of the Evaluation Date. Since the Evaluation Date, there have been no changes in the Company’s internal control over financial reporting (as such term is defined in the Exchange Act) that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting. Except as would not, individually or in the aggregate, constitute a Material Adverse Effect, the Company has disclosed, based on its most recent evaluation prior to the date hereof, to the Company’s auditors and the audit committee of the Company’s Board of Directors (i) any material weaknesses in its internal control over financial reporting and (ii) any allegation of fraud that involves management of the Company or any other employees of the Company and its Subsidiaries who have a significant role in the Company’s internal control over financial reporting or disclosure controls and procedures. Since January 1, 2015, neither the Company nor any of its Subsidiaries has received any written complaint, allegation, assertion or claim regarding the accounting or auditing practices, procedures, methodologies or methods of the Company or its Subsidiaries or their respective internal accounting controls.

(d)Material Changes. Since the date of the latest audited financial statements included within the SEC Documents, except as specifically disclosed in a subsequent SEC Document filed prior to the date hereof, (i) there have been no events, occurrences or developments that have had or would reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect, (ii) the Company has not incurred any material liabilities (contingent or otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice, (B) liabilities not required to be reflected in the Company's financial statements pursuant to GAAP or disclosed in

filings made with the Commission, and (C) interest on the Senior Notes, (iii) the Company has not altered materially its method of accounting or the manner in which it keeps its accounting books and records, (iv) the Company has not declared or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock (other than in connection with repurchases of unvested stock issued to employees of the Company), and (v) the Company has not issued any equity securities to any officer, director or Affiliate, except Common Stock issued pursuant to existing Company stock option or stock purchase plans or executive and director compensation arrangements disclosed in the SEC Documents. Except for the issuance of the Shares contemplated by this Agreement, since January 1, 2015, no event, liability or development has occurred or exists with respect to the Company or its Subsidiaries or their respective business, properties, operations or financial condition, that was required to have already been disclosed by the Company on Form 8-K under applicable securities laws that has not already been publicly disclosed.

Section 3.Representations and Warranties of the Purchasers. Each Purchaser, other than the FF Investor for the purposes of Section 3.4, the first sentence of Section Error! Reference source not found., Section 3.5(c), Section 3.5(e), Section 3.5(f), Section 3.6 and Section 3.8, severally and not jointly, hereby represents and warrants to the Company that the following representations are true and complete as of the date hereof and as of the Closing:

3.1Organization. Such Purchaser is an entity duly organized, validly existing and in good standing under the Laws of its jurisdiction of formation, and has the requisite power and authority to carry on its business as it is now being conducted.

3.2Authorization. Such Purchaser has the requisite power and authority to enter into the Transaction Agreements to which it is a party and to consummate the transactions contemplated hereby and thereby. The execution and delivery by such Purchaser of the Transaction Agreements to which it is a party and the compliance by such Purchaser with each of the provisions of each Transaction Agreement to which such Purchaser is a party (including the consummation by such Purchaser of the transactions contemplated hereby and, as applicable, thereby) (a) are within the requisite power and authority of such Purchaser and (b) have been duly authorized by all necessary action on the part of such Purchaser. Each of the Transaction Agreements to which such Purchaser is a party has been duly and validly executed and delivered by such Purchaser. Assuming due authorization, execution and delivery by the Company of the Transaction Agreements to which such Purchaser is a party, the Agreement constitutes,

and, in the case of each New Investor, the New Investor Agreement when executed and delivered by such New Investor shall constitute, a valid and binding agreement of such Purchaser enforceable against such Purchaser in accordance with its terms, except (i) as such enforcement is limited by bankruptcy, insolvency and other similar Laws affecting the enforcement of creditors’ rights generally and (ii) for limitations imposed by general principles of equity.

3.3No Conflicts; Consents and Approvals; No Violation. Neither the execution, delivery or performance by such Purchaser of any Transaction Agreement to which such Purchaser is a party nor the consummation of the transactions contemplated hereby or thereby shall (a) result in a breach or a violation of, any provision of the articles of incorporation, bylaws or other organizational documents of such Purchaser or of the articles of incorporation, bylaws or other organizational documents of any of its Subsidiaries; (b) constitute, with or without notice or the passage of time or both, a breach, violation or default, create an Encumbrance, or give rise to any right of termination, modification, cancellation, prepayment, suspension, limitation, revocation or acceleration, under (i) any Law, or (ii) any provision of any agreement or other instrument to which such Purchaser is a party or pursuant to which such Purchaser or its assets or properties is subject, except for, in the case of each clause (i) and (ii), breaches, violations, defaults, Encumbrances, or rights of termination, modification, cancellation, prepayment, suspension, limitation, revocation or acceleration, which, individually or in the aggregate, would not materially adversely affect the ability of such Purchaser to perform its obligations under any Transaction Agreement to which such Purchaser is a party or to consummate the transactions contemplated hereby or thereby; or (c) require any Consents, Approvals and Filings on the part of such Purchaser, except for (x) the Consents, Approvals and Filings required under the Exchange Act and applicable state securities Laws, (y) the Consents, Approvals and Filings required under the Merger Control Laws, and (z) such other Consents, Approvals and Filings which the failure of such Purchaser to make or obtain would not materially adversely affect the ability of such Purchaser to perform its obligations under any Transaction Agreement to which such Purchaser is a party or to consummate the transactions contemplated hereby or thereby.

3.4Broker’s Fee. No agent, broker, investment banker or other Person is or shall be entitled to any broker’s or finder’s fee or any other commission or similar fee from such Purchaser in connection with the transactions contemplated by this Agreement to occur at the Closing.

3.5Securities Law Matters.

(a)Such Purchaser is acquiring the Shares for its own account, for investment and not with a view to, or for sale in connection with,

the distribution thereof as contemplated under the Securities Act. The FF Investor is acquiring the Shares as custodian for the FF Beneficial Investor and not with a view to, or for sale in connection with, the distribution thereof within the meaning of the Securities Act.

(b)Such Purchaser is an “accredited investor,” as that term is as defined in Rule 501(a) of Regulation D under the Securities Act. Such Purchaser has sufficient knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of its investment in the Shares and is capable of bearing the economic risks of such investment.

(c)Such Purchaser and its advisers have been furnished with all materials relating to the business, finances and operations of the Company, its Subsidiaries and materials relating to the offer and sale of the Shares which have been requested by such Purchaser or its advisers. Such Purchaser (other than the FF Investor) and its advisers have been afforded the opportunity to ask questions of the Company’s management concerning the Company and the Shares.

(d)Such Purchaser understands that the sale or re-sale of the Shares has not been and is not being registered under the Securities Act or any applicable state securities laws, and the Shares may not be offered, sold or otherwise transferred unless (i) the Shares are offered, sold or transferred pursuant to an effective registration statement under the Securities Act, or (ii) the Shares are offered, sold or transferred pursuant to an exemption from registration under the Securities Act and any applicable state securities laws.

(e)Neither such Purchaser, nor any of its officers, directors, employees, agents, stockholders or partners has either directly or indirectly, including, through a broker or finder engaged in any general solicitation or published any advertisement in connection with the offer and sale of the Shares.

(f)The principal offices of such Purchaser and the offices of such Purchaser in which it made its decision to purchase the Shares are located at the address set forth on Exhibit A with respect to such Purchaser or, in the case of the FF Beneficial Investor, at the address set forth on its signature page.

3.6Availability of Funds. Such Purchaser has, or, in the case of the FF Investor, the FF Beneficial Investor has, sufficient funds to pay the purchase price pursuant to Section 1.1.

3.7Legends. Such Purchaser understands that the Shares may be notated with one or all of the following legends:

(a)“THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH TRANSFER MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.”;

(b)Any legend set forth in, or required by, such of the New Investor Agreement or the Investors’ Rights Agreement to which such Purchaser is a party; or

(c)Any legend required by the securities Laws of any state to the extent such Laws are applicable to the Shares represented by the certificate, instrument, or book entry so legended.

3.8HSR Obligations. Each of InterWest Partners X, L.P. and each NEA Purchaser hereby represents and warrants to the Company that the following representations are true and complete as of the date hereof and as of the Closing:

(a)such Purchaser is not under common control, as determined in accordance with the HSR Act, with any other stockholder of the Company and in addition in the case of each NEA Purchaser also with the other NEA Purchaser; and

(b)such Purchaser does not have any HSR filing obligation as a result of the transactions described herein because (i) the HSR size of transaction threshold test would not be satisfied with respect to such Purchaser or (ii) the exemption described in 15 U.S.C. Section 18a(c)(10) would apply to such Purchaser.

Section 4.Covenants.

4.1Public Announcements. The Company and the Purchasers shall consult with each other before issuing any press release with respect to this Agreement or the transactions contemplated hereby and neither shall issue any such press release or make any such public statement with respect thereto without the prior consent of the others, which consent shall not be unreasonably withheld, delayed or conditioned; provided, however, that the Company may, without the prior consent of the Purchasers, issue such

press release or make such public statement as may upon the advice of counsel be required by Law or by the rules of NASDAQ, any other national securities exchange on which the Company’s securities are listed or any automated quotation system on which such securities are quoted or be required or advisable to complete any required Antitrust Filings or to address any inquiries by a Governmental Entity investigating pursuant to the Merger Control Laws the transactions contemplated hereby, provided that, to the extent time permits, the Company has used all commercially reasonable efforts to consult with the Purchasers prior thereto.

4.2Consents, Approvals and Filings.

(a)Each of the Company and the Purchasers, or their respective Affiliates, as applicable, shall make any required HSR Filing and non-U.S. Antitrust Filing listed in Schedule 4.2 hereto as promptly as practicable, but not later than ten (10) Business Days after the date hereof, in accordance with applicable Laws. To the extent a single Antitrust Filing is required with respect to the Company and any Purchaser in connection with any of the non-U.S. Antitrust Filings listed in Schedule 4.2, rather than separate Antitrust Filings from each party, the relevant Purchaser shall take the lead in making such filing. Each Purchaser shall pay all filing fees required by it under applicable Merger Control Laws (including under the HSR Act). In furtherance of the foregoing, the Company and each Purchaser agree to:

(i)keep the other party apprised of the status of matters relating to the completion of the Antitrust Filings;

(ii)reasonably cooperate in the process to obtain antitrust clearance by the Outside Date;

(iii)furnish promptly to government agencies or authorities of competent jurisdiction any information required and reasonably requested under the Merger Control Laws;

(iv)furnish to the other party or its counsel all information within its possession that is reasonably required for any Antitrust Filings to be made by the other party in connection with the transactions contemplated by this Agreement;

(v)promptly notify the other party of any communications from or with any government agency or authority of competent jurisdiction to the extent relating to any Antitrust Filing or the transactions contemplated by this Agreement;

(vi)consult with the other party in advance of participating in any meeting or substantive discussion with any government agency or authority relating to the Antitrust Filings, and, to the extent permitted by such government agency or authority, give the other party the opportunity to attend and participate thereat; and

(vii)consult and cooperate with the other party in connection with all analyses, appearances, presentations, memoranda, briefs, arguments, opinions and proposals made or submitted to any Governmental Entity in connection with proceedings under or relating to the Antitrust Filings.

(b)Each party will be responsible for and pay its own costs and expenses associated with any Antitrust Filing. Notwithstanding anything in this Agreement to the contrary, nothing contained in this Agreement shall require the Company, any Purchaser, or the FF Beneficial Investor or their respective Affiliates to (i) (A) relinquish or forbear any rights, (B) agree to any restriction on the conduct of any business or operations or the ownership or exercise of any assets, properties or rights or (C) pay any consideration to any other Person (other than filing and application fees to government agencies or authorities) or (ii) disclose to the other parties, any of their representatives or any other Person, or grant to the other parties, any of their representatives or any other Person, any access in any way (including at meetings with governmental agencies or authorities) to (A) any information if making such information available would jeopardize any attorney-client or other legal privilege, contravene any applicable Law or breach any contract between such party and a third party, or (B) any nonpublic information about itself, any of its Affiliates or any of its or its Affiliates’ respective businesses or operations, other than information that is reasonably relevant to the transactions contemplated by this Agreement. Without limiting the generality of the foregoing, each party shall provide to the other (or the other’s respective advisors) upon request copies of all correspondence between such party and any Governmental Entity relating to the transactions contemplated by this Agreement. The parties may, as they deem advisable and necessary, designate any competitively sensitive materials provided to the other under this Section 4.2 as "outside counsel only." Such materials and the information contained therein shall be given only to outside counsel of the recipient and will not be disclosed by such outside counsel to employees, officers, or directors of the recipient without the advance written consent of the party providing such materials.

(c) The Company and the Purchasers each shall use their respective commercially reasonable efforts to take, or cause to be taken, all actions, and do, or cause to be done, and to assist and cooperate with the other party in doing, all things necessary, proper, desirable or advisable to obtain and make all consents, approvals and filings (other than the Antitrust Filings) required to be obtained or made by the Company and its Subsidiaries or the Purchasers, as the case may be, in connection with the authorization, execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby.

4.3Further Assurances. Except as otherwise expressly provided in this Agreement, each party shall use its respective commercially reasonable efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable under applicable Laws to consummate the transactions contemplated by this Agreement by or before the Outside Date. If any administrative or judicial action or proceeding, including any proceeding by a private party, is instituted (or threatened to be instituted) challenging any transaction contemplated by this Agreement, each party shall use commercially reasonable efforts to cooperate in all respects with the other parties, to contest and resist any such action or proceeding and to have vacated, lifted, reversed or overturned any Order, whether temporary, preliminary or permanent, that is in effect and that prohibits, prevents or restricts the consummation of the transactions contemplated by this Agreement; provided, however, that no party shall be required to expend any material funds in connection with such commercially reasonable efforts. KPCB agrees that it shall cause its signature to the IRA Amendment to be delivered at the time of the Closing.

4.4Confidential Information. Except as may be required by applicable Law, any listing agreement with any applicable national or regional securities exchange, as required to be disclosed in filings or other submissions to Governmental Entities made to obtain necessary consents, approvals or filings, or pursuant to the terms and provisions of the existing confidentiality and non-use obligations of the parties, or as provided in the FF Side Letter, the parties will hold any non-public information exchanged between the parties in connection with this Agreement and, in the case of the Company, the New Investors and the FF Beneficial Investor, the New Investor Agreement, and/or the transactions contemplated hereby and thereby in confidence in accordance with the terms and provisions of the existing confidentiality and non-use obligations of the parties.

4.5Notification of Certain Matters. The Company shall give prompt notice to each Purchaser and the FF Beneficial Investor of, and each Purchaser and the FF Beneficial Investor shall give prompt notice to the Company of, and shall use their respective commercially reasonable efforts to prevent or promptly remedy, (a) the occurrence or failure to occur, or the

impending or threatened occurrence or failure to occur, of any event which occurrence or failure to occur would cause any of its representations or warranties in this Agreement to be untrue or inaccurate in any material respect (or in all respects in the case of any representation or warranty containing any materiality qualification) at any time after the date hereof but on or prior to the Closing and (b) any material failure (or any failure in the case of any covenant, condition or agreement containing any materiality qualification) on its part to comply with or satisfy any covenant, condition or agreement to be complied with or satisfied by it under this Agreement. The delivery of any notice pursuant to this Section 4.5 shall not limit or otherwise affect the remedies available under this Agreement to any party receiving such notice.

4.6Removal of Legends. The Company agrees that such time as any legend set forth in Section 3.7 is no longer required (and the Company acknowledges that legends would no longer be required in a circumstance where the Company has received a legal opinion of securities counsel to the Purchaser, reasonably satisfactory to the Company, that a pro rata distribution by a Purchaser to its unaffiliated limited partners constitutes a circumstance under which legends would no longer be required), the Company will, no later than three (3) Business Days following receipt by the Company of (a) a written request by a Purchaser to the Company or the Company’s transfer agent to have such legend removed and (b) such customary representations, notices and other documentation as is reasonably requested by the Company or its transfer agent (including an opinion of securities counsel to the Purchaser, reasonably satisfactory to the Company and its transfer agent), deliver or cause to be delivered to the Purchaser a certificate representing such Shares that is free from such legend, or, in the event that such shares are uncertificated, remove any such legend in the Company’s stock records. The Company may not make any notation on its records or give instructions to its transfer agent that enlarge the restrictions on transfer set forth in Section 3.7.

Section 5.Conditions to the Parties’ Obligations at Closing.

5.1Conditions to Obligations of Purchasers and the Company at the Closing. The obligations of each Purchaser and the Company to consummate the transactions contemplated hereby to be consummated at the Closing are subject to the satisfaction or waiver at or prior to the Closing of each of the following conditions as it relates to such Purchaser:

(a)No Injunction. No preliminary or permanent injunction or other Order by any Governmental Entity which prevents the consummation of the transactions contemplated hereby shall have been issued and remain in effect (each party agreeing to use its commercially reasonable efforts to have any such injunction or Order lifted);

(b)Receipt of Approvals. All necessary clearances, approvals, authorizations, or waiting period expirations or terminations, if any, in connection with any HSR Filing and any non-US Antitrust Filing listed in Schedule 4.2 applicable to such Purchaser’s purchase of Shares hereunder have been received or obtained; and

(c)Absence of Litigation. No suit, claim, investigation, action or other proceeding shall be pending or, to the knowledge of the Company or Purchasers, respectively, threatened against Purchasers or the Company or any Subsidiary before any Governmental Entity which reasonably could be expected to result in the restraint or prohibition of any such party, or the obtaining of damages or other relief from any such party, in connection with this Agreement or the IRA Amendment or, in the case of the Company and the New Investors, the New Investor Agreement, or the consummation of the transactions contemplated hereby or thereby.

5.2Additional Conditions to Obligations of the Purchasers at the Closing. The obligations of each Purchaser to consummate the transactions contemplated hereby to be consummated at the Closing shall be subject to the satisfaction or waiver at or prior to the Closing of each of the following additional conditions:

(a)Representations and Warranties. The representations and warranties of the Company contained in Section 2 shall be true and correct in all material respects as of the Closing.

(b)Performance. The Company shall have performed and complied in all material respects with all covenants, agreements, obligations and conditions contained in this Agreement that are required to be performed or complied with by the Company on or before the Closing.

(c)Compliance Certificate. An officer or other authorized representative of the Company shall deliver to such Purchasers at the Closing a certificate certifying that the conditions specified in Sections 5.2(a) and (b) have been fulfilled.

(d)New Investor Agreement. The Company shall have executed and delivered to the New Investors the New Investor Agreement.

(e)IRA Amendment. The Company and the other parties to the Investors’ Rights Agreement necessary to amend the Investors’ Rights Agreement substantially in the form of the amendment attached hereto as Exhibit C (the “IRA Amendment”) shall have executed and delivered to each Purchaser such amendment. For the purposes of clarity, neither the FF Investor nor the FF Beneficial

Investor are parties to the Investors’ Rights Agreement nor the IRA Amendment.

(f)FF Side Letter. The Company shall have executed and delivered to the FF Investor and the FF Beneficial Investor the FF Side Letter.

5.3Additional Conditions to Obligations of the Company at the Closing. The obligations of the Company to consummate the transactions contemplated hereby to be consummated at the Closing shall be subject to the satisfaction or waiver at or prior to the Closing of each of the following additional conditions:

(a)Representations and Warranties. The representations and warranties of each Purchaser and the FF Beneficial Investor contained in Section 3 shall be true and correct in all material respects as of the Closing.

(b)Performance. Each Purchaser shall have performed and complied in all material respects with all covenants, agreements, obligations and conditions contained in this Agreement that are required to be performed or complied with by it on or before the Closing.

(c)IRA Amendment. Each Purchaser party to the Investors’ Rights Agreement and the other parties to the Investors’ Rights Agreement (other than the Company) necessary to amend the Investors’ Rights Agreement substantially in the form of the IRA Amendment shall have executed and delivered to the Company such amendment. For the purposes of clarity, neither the FF Investor nor the FF Beneficial Investor are parties to the Investors’ Rights Agreement nor the IRA Amendment.

(d)FF Side Letter. The FF Beneficial Investor and the FF Investor shall have executed and delivered to the Company the FF Side Letter.

(e)New Investor Agreement. The FF Beneficial Investor, the FF Investor and each other New Investor shall have executed and delivered to the Company the New Investor Agreement.

Section 6.Termination

6.1Termination. This Agreement may be terminated, on a Purchaser-by-Purchaser basis:

(a)at any time by mutual written agreement of the Company and such Purchaser;

(b)at any time by the Company in the event of a material breach by such Purchaser of any representation, warranty, or covenant set forth

in this Agreement, which breach is not cured within 30 days after receipt of written notice thereof by such Purchaser from the Company;

(c)at any time by such Purchaser in the event of a material breach by the Company of any representation, warranty, or covenant set forth in this Agreement, which breach is not cured within 30 days after receipt of written notice thereof by the Company from such Purchaser; and

(d)by such Purchaser or the Company if the Closing does not occur on or before September 30, 2016 (the “Outside Date”), provided that the party seeking to terminate this Agreement pursuant to this Section 6.1(d) shall not have breached in any material respect its representations, warranties or covenants set forth in this Agreement.

6.2Effect of Termination. If this Agreement is terminated by either the Company or a Purchaser pursuant to the provisions of Section 6.1, this Agreement with respect to the Company and such Purchaser (and in the case of the FF Investor, the FF Beneficial Investor) shall forthwith become void and there shall be no further obligations on the part of the Company or such Purchaser (or in the case of the FF Investor, the FF Beneficial Investor) or their respective stockholders, directors, officers, employees, agents or representatives, except for rights and obligations that had accrued hereunder prior to such termination and the provisions of Sections 4.1 (Public Announcements), 4.4 (Confidential Information), and 7 (Miscellaneous), which shall survive any termination of this Agreement; provided, however, that nothing in this Section 6.2 shall relieve either party from liability for any breach of any representation, warranty, covenant, or agreement under this Agreement prior to such termination or for any willful breach of this Agreement.

6.3Extensions; Waiver. At any time prior to the applicable compliance time, the Company and each Purchaser may (a) extend the time for the performance of any of the obligations or other acts of a Purchaser or the Company with respect to such Purchaser, respectively, (b) waive any inaccuracies in the representations and warranties contained herein or in any document delivered pursuant thereto and (c) waive compliance with any of the agreements or conditions herein. Any agreement on the part of a party to any such extension or waiver shall be valid if set forth in an instrument in writing signed on behalf of such party.

Section 7.Miscellaneous.

7.1Survival of Warranties. The representations and warranties of the Company, each Purchaser and the FF Beneficial Investor contained in or made pursuant to this Agreement shall survive the execution and delivery

of this Agreement and the Closing until the one (1) year anniversary thereof.

7.2Successors and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. Nothing in this Agreement shall prohibit, after the Closing, a New Investor from assigning its rights hereunder (whether in whole or in part) to any Permitted Transferee (as such term is defined in the New Investor Agreement) which acquires at least 25,000 Shares (subject to adjustment in the event of any stock split, stock dividend, share exchange, merger, consolidation or similar recapitalization occurring after the date hereof) from such Purchaser.

7.3Governing Law. This Agreement and all claims or causes of action (whether in tort, contract or otherwise) that may be based upon, arise out of or relate to this Agreement or the negotiation, execution or performance of this Agreement (including any claim or cause of action based upon, arising out of or related to any representation or warranty made in or in connection with this Agreement) shall be governed by and construed in accordance with the Laws of the State of Delaware, without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the Laws of any jurisdiction other than the State of Delaware.

7.4Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

7.5Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

7.6Notices. All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon the earlier of actual receipt, or (a) personal delivery to the party to be notified, (b) when sent, if sent by electronic mail or facsimile during normal business hours of the recipient, and if not sent during normal business hours, then on the recipient’s next business day, (c) five (5) days

after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) business day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next business day delivery, with written verification of receipt. All communications shall be sent to the respective parties at their address as set forth on the signature page, or to such e-mail address, facsimile number or address as subsequently modified by written notice given in accordance with this Section 7.6.

7.7No Finder’s Fees. Each party represents that it neither is nor will be obligated for any finder’s fee or commission in connection with this transaction. Each Purchaser agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in the nature of a finder’s or broker’s fee arising out of this transaction (and the costs and expenses of defending against such liability or asserted liability) for which such Purchaser or any of its officers, employees or representatives is responsible. The Company agrees to indemnify and hold harmless the Purchasers and the FF Beneficial Investor from any liability for any commission or compensation in the nature of a finder’s or broker’s fee arising out of this transaction (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible.

7.8Expenses. Each party shall pay its owns expenses incurred in connection with the preparation, negotiation, execution, delivery, and performance of the Transaction Agreements to which such party is a party and the consummation of the transactions contemplated hereby and thereby.

7.9Waiver. Waiver by the Company or a Purchaser of a breach hereunder by a Purchaser or the Company, respectively, shall not be construed as a waiver of any subsequent breach of the same or any other provision. No delay or omission by a party in exercising or availing itself of any right, power or privilege hereunder shall preclude the later exercise of any such right, power or privilege by such party. No waiver shall be effective unless made in writing with specific reference to the relevant provision(s) of this Agreement and signed by a duly authorized representative of the party granting the waiver.

7.10Amendments. Any term of this Agreement may be amended or terminated with respect to the Company and another party hereto only with the written consent of the Company and such party, and, in the case of the FF Investor, the FF Beneficial Investor.

7.11Severability. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision.

7.12Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non-defaulting party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative.

7.13Entire Agreement. This Agreement (and (a) in the case of the New Investors, the FF Beneficial Investor and the Company, the New Investor Agreement, (b) in the case of the NEA Purchasers and KPCB, the IRA Amendment, and (c) in the case of FF Investor and FF Beneficial Investor and the Company, the FF Side Letter) constitute the full and entire understanding and agreement between the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties are expressly canceled. As among the Company, the FF Investor and the FF Beneficial Investor, the provisions of the FF Side Letter will prevail over the provisions of this Agreement to the extent of any inconsistency.

7.14Specific Enforcement. The parties hereto agree that irreparable damage may occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific intent or were otherwise breached. It is accordingly agreed that the parties may be entitled to an injunction or injunctions to prevent or cure breaches of the provisions of this Agreement and to enforce specifically the terms and provisions hereof, in addition to any other remedy to which they may be entitled by law or equity.

7.15Exclusive Jurisdiction; Venue. Each of the parties hereto irrevocably agrees that any legal action or proceeding with respect to this Agreement and the rights and obligations arising hereunder, or for recognition and enforcement of any judgment in respect of this Agreement and the rights and obligations arising hereunder brought by another party hereto or its successors or assigns, shall be brought and determined exclusively in the Delaware Court of Chancery, or, if the Delaware Court of Chancery declines to accept jurisdiction over a particular matter, any federal court within the State of Delaware, or, if both the Delaware Court of Chancery and the federal courts within the State of Delaware decline to accept

jurisdiction over a particular matter, any other state court within the State of Delaware, and, in each case, any appellate court therefrom. Each of the parties hereto hereby irrevocably submits with regard to any such action or proceeding for itself and in respect of its property, generally and unconditionally, to the personal jurisdiction of the aforesaid courts and agrees that it will not bring any action relating to this Agreement or any of the transactions contemplated by this Agreement in any court other than the aforesaid courts. Each of the parties hereto hereby irrevocably waives, and agrees not to assert as a defense, counterclaim or otherwise, in any action or proceeding with respect to this Agreement, (a) any claim that it is not personally subject to the jurisdiction of the above named courts for any reason other than the failure to serve in accordance with this Section 7.15, (b) any claim that it or its property is exempt or immune from the jurisdiction of any such court or from any legal process commenced in such courts (whether through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) and (c) to the fullest extent permitted by the applicable Law, any claim that (i) the suit, action or proceeding in such court is brought in an inconvenient forum, (ii) the venue of such suit, action or proceeding is improper or (iii) this Agreement, or the subject matter hereof, may not be enforced in or by such courts. Each of the parties hereto agrees that service of process upon such party in any such action or proceeding shall be effective if such process is given as a notice in accordance with Section 7.6.

7.16Waiver of Jury Trial. EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES TO THE EXTENT PERMITTED BY APPLICABLE LAW ANY AND ALL RIGHT TO A TRIAL BY JURY IN ANY DIRECT OR INDIRECT ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) MAKES THIS WAIVER VOLUNTARILY, AND (C) ACKNOWLEDGES THAT EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS CONTAINED IN THIS SECTION 7.16.

7.17Representations and Warranties of the FF Beneficial Investor. The FF Beneficial Investor represents and warrants to the Company that each of the representations and warranties made by the Purchasers in Section 3 (other than those in Sections 3.5(b) and 3.8), substituting references to

“Purchaser” with “the FF Beneficial Investor”, are true and correct as of the date hereof and shall be true and correct as of the Closing.

7.18FF Investor Limitation of Liability. The FF Investor enters into and is liable under (a) this Agreement, (b) any other document or agreement which the FF Investor may be required to provide under this Agreement (including the New Investor Agreement and the FF Side Letter) and (c) any document or agreement executed by the Company or any other person as agent or attorney of the FF Investor under this Agreement only in its capacity as custodian for the FF Beneficial Investor and to the extent that it is actually indemnified by the FF Beneficial Investor. To the extent this paragraph operates to reduce the amounts for which the FF Investor would otherwise be liable to any person, the FF Beneficial Investor will pay or procure the payment of such amounts to such person.

[signature pages follow]

IN WITNESS WHEREOF, the parties have executed this Stock Purchase Agreement as of the date first written above.

COMPANY:

TESARO, Inc.

By: /s/ Joseph L. Farmer

Name: Joseph L. Farmer

Title: Senior VP and General Counsel

Address:

1000 Winter Street

Suite #3300

Waltham, MA 02451

PURCHASER:

KPCB HOLDINGS, INC.,

as nominee

By: /s/ Paul M. Vronsky

Name: Paul Vronsky

Title: General Counsel

Address:

2750 Sand Hill Road

Menlo Park, CA 94025

PURCHASERS:

New Enterprise Associates 13, L.P.

By: NEA Partners 13, L.P., its general partner

By: NEA 13 GP, LTD, its general partner

By: /s/ Louis S. Citron

Name: Louis S. Citron

Title: Chief Legal Officer

Address:

5425 Wisconsin Avenue, Suite 800

Chevy Chase, MD 20815

NEA 15 Opportunity Fund, L.P.

By: NEA Partners 15-OF, L.P., its general partner

By: NEA 15 GP, LLC, its general partner

By: /s/ Louis S. Citron

Name: Louis S. Citron

Title: Chief Legal Officer

Address:

5425 Wisconsin Avenue, Suite 800

Chevy Chase, MD 20815

PURCHASERS:

Ally Bridge LB Healthcare Master Fund Limited

By: /s/ Li Bin

Name: Li Bin

Title: Director

Address:

Unit 3002-04, 30th Floor, Gloucester Tower, The Landmark, 15 Queen’s Road Central, Hong Kong

ABG Innovation III-SO Limited

By: /s/ Law Thin Ken

Name: Law Thin Ken

Title: Director

Address:

Unit 3002-04, 30th Floor, Gloucester Tower, The Landmark, 15 Queen’s Road Central, Hong Kong

PURCHASER:

INTERWEST PARTNERS X, LP

By: InterWest Management Partners X, LLC, its general partner

By: /s/ Arnold Oronsky

Name: Arnold Oronsky

Title: Managing Director

Address:

2710 Sand Hill Road, Suite 200

Menlo Park, CA 94025

PURCHASER:

THE NORTHERN TRUST COMPANY

Jonathan Carstens

being a person who, in accordance with the laws of that territory, is acting under the authority of the company in the presence of:

/s/ Talla Ansari

Signature of witness

TALLA ANSARI

Name of witness (block letters)

Level 43, 120 Collins St.,

Melbourne, Vic, 3000

Australia

…………………………………………….

Address of witness

Date:

)

/s/ Jonathan Carstens

By executing this agreement the signatory warrants that the signatory is duly authorized to execute this agreement on behalf of THE NORTHERN TRUST COMPANY

Address:

The Northern Trust Company
Level 47, 80 Collins Street
Melbourne VIC 3000 Australia

FF Beneficial Investor:


Signed for and on behalf of Future Fund Investment Company No.4 Pty Ltd by: Paul Mann		/s/ Paul Mann
Name of Director		Signature of Director 25 February 2016
		Date

Address:

Future Fund Investment Company No.4 Pty Ltd
Level 43, 120 Collins Street
Melbourne VIC 3000 Australia

SCHEDULE 4.2

Non-U.S. Antitrust Filings

None.

EXHIBIT A

Schedule of Purchasers

Investor Name/Address	Shares of Common Stock	Aggregate Purchase Price
KPCB Holdings, Inc., as nominee 2750 Sand Hill Road, Menlo Park, CA 94025	1,420,858	$49,999,993.02
NEA 15 Opportunity Fund, L.P. 5425 Wisconsin Avenue, Suite 800, Chevy Chase, MD 20815	710,429	$24,999,996.51
New Enterprise Associates 13, L.P. 5425 Wisconsin Avenue, Suite 800, Chevy Chase, MD 20815	710,429	$24,999,996.51
The Northern Trust Company, as custodian for Future Fund Investment Company No.4 Pty Ltd Level 47, 80 Collins Street, Melbourne, Victoria 3000 Australia	852,514	$29,999,967.66
Ally Bridge LB Healthcare Master Fund Limited Unit 3002-04, 30th Floor, Gloucester Tower, The Landmark, 15 Queen’s Road Central, Hong Kong	369,423	$12,999,995.37
ABG Innovation III-SO Limited Unit 3002-04, 30th Floor, Gloucester Tower, The Landmark, 15 Queen’s Road Central, Hong Kong	198,920	$6,999,994.80
InterWest Partners X, LP 2710 Sand Hill Road, Suite 200, Menlo Park, CA 94025	142,085	$4,999,971.15
Total	4,404,658	$154,999,915.02

EXHIBIT B

Form of New Investor Agreement

See attached.

FINAL FORM

INVESTOR AGREEMENT

Section 1.Definitions. As used in this Agreement, the following terms shall have the following meanings:

1.1“Affiliate” means, with respect to any Person, another Person that controls, is controlled by or is under common control with such Person. A Person shall be deemed to control another Person if such Person possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise. For the purposes of this Agreement, in no event shall an Investor or any of its Affiliates be deemed Affiliates of the Company or any of its Affiliates, nor shall the Company or any of its Affiliates be deemed Affiliates of an Investor or any of its Affiliates. Further, each of the parties to this Agreement (other than the FF Beneficial Investor) acknowledges the FF Beneficial Investor and/or its Affiliates may have appointed a number of managers with discretionary mandates to invest and manage assets on behalf of the FF Beneficial Investor and/or its Affiliates. The obligations under this Agreement will not apply to any conduct by a manager taken on the FF Beneficial

Investor’s and/or its Affiliate’s behalf provided such conduct is on a discretionary basis.

1.2“Agreement” shall have the meaning set forth in the Preamble to this Agreement, including all Exhibits attached hereto.

1.3“Ally Bridge” shall have the meaning set forth in the Preamble to this Agreement.

1.4“beneficial owner,” “beneficially owns,” “beneficial ownership” and terms of similar import used in this Agreement shall, with respect to a Person, have the meaning set forth in Rule 13d-3 under the Exchange Act (i) assuming the full conversion into, and exercise and exchange for, shares of Common Stock of all Common Stock Equivalents beneficially owned by such Person and (ii) determined without regard for the number of days in which such Person has the right to acquire such beneficial ownership.

1.5“Business Day” means any day except Saturday, Sunday and any legal holiday or a day on which banking institutions in Boston, Massachusetts generally are authorized or required by law or other governmental actions to close.

1.6“Change of Control” shall occur if: (a) any Third Party acquires directly or indirectly the beneficial ownership of any voting security of the Company, or if the percentage ownership of such person or entity in the voting securities of the Company is increased through stock redemption, cancellation or other recapitalization, and immediately after such acquisition or increase such Third Party is, directly or indirectly, the beneficial owner of voting securities representing more than fifty percent (50%) of the total voting power of all of the then outstanding voting securities of the Company; (b) a merger, consolidation, recapitalization, or reorganization of the Company is consummated, other than any such transaction that would result in stockholders or equity holders of the Company immediately prior to such transaction owning at least fifty percent (50%) of the outstanding securities of the surviving entity (or its parent entity) immediately following such transaction; (c) the stockholders or equity holders of the Company approve a plan of complete liquidation of the Company, or an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than pursuant to the transaction described above or to an Affiliate; or (d) individuals who, as of the date hereof, constitute the Board of Directors of the Company (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board of Directors of the Company (provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s shareholders, was recommended or approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall

be considered as though such individual were a member of the Incumbent Board).

1.7“Closing Date” means the date on which the “Closing” (as defined in the Purchase Agreement) occurs.

1.8“Common Stock” shall have the meaning set forth in the Preamble to this Agreement.

1.9“Common Stock Equivalents” means any options, warrants or other securities or rights convertible into or exercisable or exchangeable for, whether directly or following conversion into or exercise or exchange for other options, warrants or other securities or rights, shares of Common Stock or any swap, hedge or similar agreement or arrangement that transfers in whole or in part, the economic risk of ownership of, or voting or other rights of, the Common Stock.

1.10“Company” shall have the meaning set forth in the Preamble to this Agreement.

1.11“Disposition” or “Dispose of” means any (i) pledge, sale, contract to sell, sale of any option or contract to purchase, purchase of any option or contract to sell, grant of any option, right or warrant for the sale of, or other disposition of or transfer of any shares of Common Stock, or any Common Stock Equivalents, including, without limitation, any “short sale” or similar arrangement, or (ii) swap or any other agreement or any transaction that transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of shares of Common Stock, whether any such swap or transaction is to be settled by delivery of securities, in cash or otherwise.

1.12“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder.

1.13“Existing Registration Statement” shall have the meaning set forth in Section 2.1.

1.14“FF Beneficial Investor” shall have the meaning set forth in the Preamble to this Agreement.

1.15“FF Investor” shall have the meaning set forth in the Preamble to this Agreement.

1.16“FF Side Letter” means the letter agreement in substantially the form attached as Exhibit D to the Purchase Agreement, to be entered into by and between the Company, the FF Beneficial Investor and the FF Investor at the Closing (as defined in the Purchase Agreement), and as amended from time to time.

1.17“Governmental Entity” means any court, agency, authority, department, regulatory body or other instrumentality of any government or country or of any national, federal, state, provincial, regional, county, city or other political subdivision of any such government or country or any supranational organization of which any such country is a member.

1.18“Holder” means each Investor and any Permitted Transferee thereof (only for so long as such Person remains an Affiliate of such Investor), if any, in accordance with Section 6.8.

1.19“Investor” means any of the FF Investor or Ally Bridge and “Investors” means both of the FF Investor and Ally Bridge.

1.20“Law” or “Laws” means all laws, statutes, rules, regulations, orders, judgments, injunctions and/or ordinances of any Governmental Entity.

1.21“Lock-Up Securities” shall have the meaning set forth in Section 4.1.

1.22“Lock-Up Term” means the period from and after the date of this Agreement until the occurrence of any event set forth in Section 5.3.

1.23“Permitted Transferee” means, with respect to each Investor, (i) an Affiliate of such Investor, (ii) the acquiring Person in the case of a Change of Control of such Investor; or (iii) in the case of the FF Investor and the FF Beneficial Investor, any Permitted Transferee (as defined in the FF Side Letter).

1.24“Person” means any individual, limited liability company, partnership, firm, corporation, association, trust, unincorporated organization, government or any department or agency thereof or other entity, as well as any syndicate or group that would be deemed to be a Person under Section 13(d)(3) of the Exchange Act.

1.25“Prospectus” means the prospectus forming a part of any Registration Statement, as supplemented by any and all prospectus supplements and as amended by any and all amendments (including post-effective amendments) and including all material incorporated by reference or explicitly deemed to be incorporated by reference in such prospectus.

1.26“Prospectus Supplement” shall have the meaning set forth in Section 2.1.

1.27“Purchase Agreement” shall have the meaning set forth in the Preamble to this Agreement, and shall include all Exhibits attached thereto.

1.28“Purchased Shares” shall have the meaning set forth in the Preamble to this Agreement, and shall be adjusted for (i) any stock split, stock dividend, share exchange, merger, consolidation or similar recapitalization and (ii) any Common Stock issued as (or issuable upon the exercise of any

warrant, right or other security that is issued as) a dividend or other distribution with respect to, or in exchange or in replacement of, the Purchased Shares.

1.29“registers,” “registered,” and “registration” refer to a registration effected by preparing and filing a Registration Statement or similar document in compliance with the Securities Act, and the declaration or ordering of effectiveness of such Registration Statement or document by the SEC.

1.30“Registrable Securities” means (i) the Purchased Shares, together with any shares of Common Stock issued in respect thereof as a result of any stock split, stock dividend, share exchange, merger, consolidation or similar recapitalization and (ii) any Common Stock issued as (or issuable upon the exercise of any warrant, right or other security that is issued as) a dividend or other distribution with respect to, or in exchange or in replacement of, the shares of Common Stock described in clause (i) of this definition, excluding in all cases, however, (A) any Registrable Securities if and after they have been transferred to a Permitted Transferee in a transaction in connection with which registration rights granted hereunder are not assigned, (B) any Registrable Securities in a public distribution or a public securities transaction, or (C) if an Investor and its Affiliates together own less than 500,000 Purchased Shares, such Investor’s Purchased Shares eligible for resale pursuant to Rule 144(b)(1)(i) under the Securities Act.

1.31“Registration Expenses” means all expenses incurred by the Company in connection with the Prospectus Supplement pursuant to Section 2.1 or the Company’s compliance with Section 2.3, including, without limitation, all registration and filing fees, fees and expenses of compliance with securities or blue sky Laws (including reasonable fees and disbursements of counsel in connection with blue sky qualifications of any Registrable Securities), expenses of printing (i) certificates for any Registrable Securities in a form eligible for deposit with the Depository Trust Company or (ii) Prospectus if the printing of Prospectus is requested by Holders, messenger and delivery expenses, fees and disbursements of counsel for the Company and its independent certified public accountants (including the expenses of any management review, cold comfort letters or any special audits required by or incident to such performance and compliance), Securities Act liability insurance (if the Company elects to obtain such insurance), the reasonable fees and expenses of any special experts retained by the Company in connection with such registration, fees and expenses of other Persons retained by the Company and the reasonable fees and expenses (such fees and expenses not to exceed $15,000 for all Holders, selected by the Holders of a majority of the Registrable Securities. In addition, the Company will pay its internal expenses (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting

duties), the expense of any annual audit and the fees and expenses incurred in connection with the listing of the Purchased Shares to be registered on each securities exchange, if any, on which equity securities issued by the Company are then listed or the quotation of such securities on any national securities exchange on which equity securities issued by the Company are then quoted.

1.32“Registration Statement” means any registration statement of the Company under the Securities Act that covers any of the Registrable Securities pursuant to the provisions of this Agreement, including the related Prospectus, all amendments and supplements to such registration statement (including post-effective amendments), and all exhibits and all materials incorporated by reference or explicitly deemed to be incorporated by reference in such Registration Statement.

1.33“Required Period” means the period from and after the expiration of the Lock-Up Term until the earlier of (i) such time as all such Registrable Securities are sold under an effective Registration Statement or (ii) all such Registrable Securities are eligible for sale pursuant to Rule 144 and can be sold in no more than two transactions in a period of three months and one day in accordance with the volume limitations contained in Rule 144, as applicable.

1.34“SEC” means the United States Securities and Exchange Commission.

1.35“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder.

1.36“Selling Expenses” means all underwriting discounts and selling commissions applicable to the sale of Registrable Securities pursuant to this Agreement.

1.37“Shares of Then Outstanding Common Stock” means, at any time, the issued and outstanding shares of Common Stock at such time, as well as all capital stock issued and outstanding as a result of any stock split, stock dividend, or reclassification of Common Stock distributable, on a pro rata basis, to all holders of Common Stock.

1.38“Standstill Parties” shall have the meaning set forth in Section 3.1.

1.39“Standstill Term” means the period from and after the date of this Agreement until the occurrence of any event set forth in Section 5.2.

1.40“Third Party” means any Person (other than a Governmental Entity) other than each Investor, the Company or any of their respective Affiliates.

1.41“Underwritten Offering” means a registration in which Registrable Securities are sold to an underwriter for reoffering to the public.

1.42“Violation” shall have the meaning set forth in Section 2.7(a).

Section 2.Registration Rights.

2.1Prospectus Supplement. Subject to the terms and conditions in this Agreement, the Company shall use its commercially reasonable efforts to file no later than the date six (6) months after the Closing Date, a supplement to the Company’s Prospectus dated July 1, 2013 (the “Prospectus Supplement”) to the Company’s existing Registration Statement (File No. 333-189718) filed by the Company on July 1, 2013 (the “Existing Registration Statement”) to cover the registration of the Registrable Securities in order to permit or facilitate the sale and distribution of all of the Registrable Securities by the Holders; provided, however, that the Company shall not be obligated to file the Prospectus Supplement pursuant to this Section 2.1 if:

(a)the Company furnishes to the Holders a certificate signed by an authorized officer of the Company stating that (i) as of the date hereof, the Company expects to file a registration statement for the public offering of securities for the account of the Company (other than a registration of securities (x) issuable pursuant to an employee stock option, stock purchase or similar plan, (y) issuable pursuant to a merger, exchange offer or a transaction of the type specified in Rule 145(a) under the Securities Act or (z) in which the only securities being registered are securities issuable upon conversion of debt securities which are also being registered), provided, that the Company is actively employing good faith efforts to cause such registration statement to become effective, or (ii) the Company is engaged in a material transaction or has an undisclosed material corporate development, in either case, which would be required to be disclosed in the Prospectus Supplement, and in the good faith judgment of the Company’s Chief Executive Officer or Board of Directors, such disclosure would be materially detrimental to the Company and its stockholders at such time (in which case, the Company shall disclose the matter as promptly as reasonably practicable and thereafter file the Prospectus Supplement, and each Holder agrees not to disclose any information about such material transaction or undisclosed material corporate development to Third Parties until such disclosure has occurred or such information has entered the public domain other than through breach of this provision by such Holder), provided, however, that the Company shall have the right to only defer the filing of the Prospectus Supplement pursuant to this Section 2.1(a) until the date one hundred and twenty (120) days after the six (6) month anniversary of the Closing Date; or

(b)at any time prior to the filing of the Prospectus Supplement, any Holder is in breach of or has failed to cause its Affiliates to comply with the obligations and restrictions of Sections 3, 4 or 5 of this Agreement, the Company has provided notice of such breach to a Holder and such breach or failure is ongoing and has not been remedied; it being understood that (i) a one-time, inadvertent and de minimis breach of Section 4 shall not be deemed to be a breach of the obligations and restrictions under Section 4 for purposes of this Section 2.1(b) and (ii) a de minimis breach of Section 3.1(a) hereof, or an inadvertent breach of Section 3.1(f) hereof arising from informal discussions covering general corporate or other business matters the purpose of which is not intended to effectuate or lead to any of the actions referred to in paragraphs (a) through (e) of Section 3.1, shall not be deemed to be a breach of the obligations and restrictions under Section 3.1 for purposes of this Section 2.1(b).

2.2Continuous Effectiveness of Registration Statement. The Company will use its commercially reasonable efforts to keep the Existing Registration Statement and, once filed, the Prospectus Supplement continuously effective for the Required Period; provided, however, that if fifteen days prior to (or sooner at the election of the Company) the expiration of the Existing Registration Statement in accordance with Rule 415(a)(5) as promulgated under the Securities Act there remain Registrable Securities, the Company will use its commercially reasonable efforts to either file and have declared effective (if not automatically effective) a replacement Registration Statement on Form S-3 in accordance with Rule 415(a)(6) as promulgated under the Securities Act or a separate Registration Statement on Form S-3 or other appropriate form (which, for the avoidance of doubt, would be filed prior to the expiration of the Existing Registration Statement) (either such Registration Statement, the “Replacement Registration Statement”) to register the resale of the Registrable Securities and include in the prospectus (the “Replacement Prospectus”) for the Replacement Registration Statement the information contained, or to be contained, in the Prospectus Supplement, in which case the references in this Agreement to Prospectus Supplement shall mean the Replacement Prospectus.

2.3Obligations of the Company. The Company shall:

(a)prior to filing the Prospectus Supplement or any amendments thereto, the Company shall furnish to the Holders and their counsel all such documents proposed to be filed, and any Holder shall have the opportunity to comment on any information pertaining solely to such Holder and its plan of distribution that is contained therein and the Company shall incorporate the comments reasonably requested

by such Holder with respect to such information prior to filing the Prospectus Supplement or amendment;

(b)furnish to the Holders such numbers of copies of the Prospectus Supplement (including each preliminary prospectus or free writing prospectus, if applicable) in conformity with the requirements of the Securities Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them;

(c)notify the Holders promptly after the Prospectus Supplement has been filed;

(d)notify the Holders promptly of any request by the SEC for the amending or supplementing of the Prospectus Supplement or for additional information related thereto and promptly deliver to the Holders copies of any comments received from the SEC;

(e)notify the Holders promptly of any stop order suspending the effectiveness of the Prospectus Supplement or the initiation of any proceedings for that purpose, and use commercially reasonable efforts to obtain the withdrawal of any such order or the termination of such proceedings;

(f)use its commercially reasonable efforts to register and qualify the Registrable Securities under such other securities or blue sky Laws of such jurisdictions as shall be reasonably requested by the Holders, use its commercially reasonable efforts to keep each such registration or qualification effective, including through new filings, or amendments or renewals, during the Required Period, and notify the Holders of the receipt of any written notification with respect to any suspension of any such qualification; provided, however, that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a general consent to service of process in any such states or jurisdictions, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act;

(g)promptly notify each Holder of the occurrence of any event as a result of which the Prospectus Supplement includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing, and promptly prepare a supplement or amendment to the Prospectus Supplement or file any other required document so that, as thereafter delivered to the purchasers of such Registrable Securities, such Prospectus Supplement will not contain an untrue

statement of material fact or omit to state any fact necessary to make the statements therein not misleading;

(h)upon reasonable notice and during normal business hours, subject to the Company receiving customary confidentiality undertakings or agreements from any Holder or other person obtaining access to Company records, documents, properties or other information pursuant to this Section 2.3(h), make available for inspection by a representative of such Holder and any attorneys or accountants retained by any such Holder, relevant financial and other records, pertinent corporate documents and properties of the Company, and use its commercially reasonable efforts to cause the officers, directors and employees of the Company to supply all information reasonably requested by any such representative, attorneys or accountants in connection with the Registration Statement;

(i)use its reasonable efforts to comply with all applicable rules and regulations of the SEC relating to the Prospectus Supplement and make generally available to its security holders earning statements satisfying the provisions of Section 11(a) of the Securities Act, provided that the Company will be deemed to have complied with this Section 2.3(i) with respect to such earning statements if it has satisfied the provisions of Rule 158;

(j)cause the Registrable Securities covered by the Prospectus Supplement to be listed on each securities exchange, if any, on which equity securities issued by the Company are then listed; and

(k)reasonably cooperate with each Holder and their respective counsel in connection with filings required to be made with the Financial Industry Regulatory Authority, Inc., if any.

2.4Furnish Information. It shall be a condition precedent to the obligations of the Company to take any action pursuant to this Section 2 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself and the Registrable Securities held by it as shall be reasonably necessary to effect the registration of such Holder’s Registrable Securities.

2.5No Underwritten Offering. Notwithstanding anything herein to the contrary, neither the Prospectus Supplement nor the plan of distribution for the Registrable Securities will contemplate, and the Company is not obligated to register the Registrable Securities for resale in, an Underwritten Offering.

2.6Expenses. All Registration Expenses shall be borne by the Company. Solely to the extent that Company elects to pursue an Underwritten

Offering, all Selling Expenses incurred in connection with any registration hereunder shall be borne by the Holders of Registrable Securities covered by a Registration Statement, pro rata on the basis of the number of Registrable Securities registered on their behalf in such Registration Statement.

2.7Indemnification.

(a)The Company shall indemnify and hold harmless each Holder and, in the case of the FF Investor, the FF Beneficial Investor and each Person, if any, who controls such Holder within the meaning of Section 15 of the Securities Act or Section 20 of Exchange Act and the officers, directors, owners, agents and employees of such controlling Persons, against any and all losses, claims, damages or liabilities (joint or several) to which they may become subject under any securities Laws including, without limitation, the Securities Act, the Exchange Act, or any state securities Law or any rule or regulation promulgated thereunder, or otherwise, including the amount paid in settlement of any litigation commenced or threatened, and shall promptly reimburse them, as and when incurred, for any legal or other expenses incurred by them in connection with investigating any claims and defending any actions, insofar as any such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any of the following statements, omissions or violations (each, a “Violation”): (i) any untrue statement or alleged untrue statement of a material fact contained in or incorporated by reference into the Existing Registration Statement, including any preliminary prospectus or final prospectus contained therein (including the Prospectus Supplement) or any free writing prospectus or any amendments or supplements thereto, (ii) the omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading or (iii) any violation or alleged violation by the Company (or any of its agents or Affiliates) of the Securities Act, the Exchange Act, any state securities Law, or any rule or regulation promulgated under any state securities Law; provided, however, the Company shall not be liable in any such case for any such loss, claim, damage, liability or action to the extent that it (A) arises out of or is based upon a Violation which occurs solely in reliance upon and in conformity with written information furnished expressly for use in connection with such registration by such Holder; or (B) is caused by such Holder’s disposition of Registrable Securities during any period during which such Holder is obligated to discontinue any disposition of Registrable Securities as a result of any stop order suspending the effectiveness of the Existing Registration Statement or Prospectus Supplement of which

such Holder has received written notice or during any period in which the effectiveness of the Existing Registration Statement or Prospectus Supplement has been suspended by the Company in order for the Company to amend the Existing Registration Statement or Prospectus Supplement and the Company has provided the Holders notice thereof. The Company shall pay, as incurred, any legal or other expenses reasonably incurred by any Person intended to be indemnified pursuant to this Section 2.7(a), in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the indemnity agreement contained in this Section 2.7(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without consent of the Company, which consent shall not be unreasonably withheld.

(b)Each Holder shall indemnify and hold harmless the Company, each of its directors, each of its officers who has signed the registration statement, each Person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act and the officers, directors, owners, agents and employees of such controlling Persons, any other Holder and any controlling Person of any such other Holder, against any losses, claims, damages or liabilities (joint or several) to which any of the foregoing Persons may become subject, under liabilities (or actions in respect thereto) which arise out of or are based upon any Violation, in each case to the extent (and only to the extent) that such Violation: (i) arises out of or is based upon a Violation which occurs solely in reliance upon and in conformity with written information furnished expressly for use in connection with such registration by such Holder; or (ii) is caused by such Holder’s disposition of Registrable Securities during any period during which such Holder is obligated to discontinue any disposition of Registrable Securities as a result of any stop order suspending the effectiveness of the Existing Registration Statement or Prospectus Supplement of which such Holder has received written notice. Each such Holder shall pay, as incurred, any legal or other expenses reasonably incurred by any Person intended to be indemnified pursuant to this Section 2.7(b), in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the indemnity agreement contained in this Section 2.7(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without consent of the Holder, which consent shall not be unreasonably withheld.

(c)Promptly after receipt by an indemnified party under this Section 2.7 of notice of the commencement of any action (including

any action by a Governmental Entity) involving a claim referred to in this Section 2.7, such indemnified party shall, if a claim in respect thereof is to be made against any indemnifying party under this Section 2.7, deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties that may be represented without conflict by one counsel) shall have the right to retain its own counsel, with the reasonable fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action, if prejudicial to its ability to defend such action, shall relieve such indemnifying party of any liability to the indemnified party under this Section 2.7, but the omission so to deliver written notice to the indemnifying party shall not relieve it of any liability that it may have to any indemnified party otherwise than under this Section 2.7.

(d)In order to provide for just and equitable contribution to joint liability in any case in which a claim for indemnification is made pursuant to this Section 2.7 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 2.7 provided for indemnification in such case, the Company and each Holder of Registrable Securities shall contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in proportion to the relative fault of the Company, on the one hand, and such Holder, severally, on the other hand; provided, however, that in any such case, no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation; provided further, however, that in no event shall any contribution under this Section 2.7(d) on the part of any Holder exceed the net proceeds received by such Holder from the sale of Registrable Securities giving rise to such contribution obligation, except in the case of willful misconduct or fraud by such Holder.

(e)The obligations of the Company and the Holders under this Section 2.7 shall survive the completion of any offering of Registrable Securities in a registration statement under this Agreement and otherwise.

Section 3.Restrictions on Beneficial Ownership.

3.1Standstill. During the Standstill Term each Investor and FF Beneficial Investor and their respective Affiliates (other than the FF Investor) (collectively, the “Standstill Parties”) shall not (and each Investor (other than the FF Investor) and the FF Beneficial Investor shall cause its Affiliates not to), without the prior written consent of the Board of Directors (or any committee thereof) of the Company, directly or indirectly:

(a)acquire, offer or propose to acquire, or agree to acquire, directly or indirectly, more than one percent (1%) of any class or series of any equity or convertible debt securities of the Company or any of its subsidiaries (whether by purchase, business combination, merger, consolidation, share exchange, joint venture or otherwise); provided, however, notwithstanding the foregoing, each Investor (together with its Affiliates) and the FF Beneficial Investor (together with its Affiliates), in each case, may acquire securities of the Company in regular brokerage transactions on the public securities market, such that when taken together with the securities purchased pursuant to the Purchase Agreement, such entity beneficially owns (within the meaning of Section 13(d)(1) of the Exchange Act) up to 9.9% of any class or series of any equity or convertible debt securities of the Company;

(b)solicit proxies or consents or become a “participant” in a “solicitation” (as such terms are defined in Regulation 14A under the Exchange Act) of proxies or consents with respect to securities of the Company or initiate any stockholder proposal with respect to the Company;

(c)seek to advise, control or influence the management, Board of Directors or policies of the Company or any of its subsidiaries (other than communications with the Company’s management with respect to the Company’s business in the ordinary course), or take action for the purpose of convening a stockholders meeting of the Company;

sale of substantially all assets, liquidation, restructuring, recapitalization, or similar transaction involving the Company or its subsidiaries, or take any action that might require the Company to make a public announcement regarding any of the foregoing;

(e)form, join or in any way participate in a “group” as defined in Section 13(d)(3) of the Exchange Act for the purpose of acquiring, holding, voting or disposing of securities of the Company or any of its subsidiaries or taking any other actions restricted or prohibited under clauses (a) through (d) of this Section 3, or take any steps in connection therewith; or

(f)enter into any discussions, negotiations, arrangements or understandings with any third party (other than such Investor’s Affiliates) with respect to any of the actions restricted or prohibited under clauses (a) through (e) of this Section 3.

Nothing in this Agreement shall restrict an Investor or any of its representatives from (1)(a) from the date of this Agreement until June 30, 2016, making a request directly to the Board of Directors of the Company for written consent to submit a proposal regarding a possible business combination involving the Company and such Investor or any of their respective Affiliates (a “Transaction”) directly to the Board of Directors of the Company on a confidential basis, which request shall be considered in good faith (provided that if the Company believes that such Investor has made a confidential proposal not meeting the requirements of clause (a), the Company will provide such Investor notice of such violation and such Investor shall have the opportunity to withdraw or otherwise negate such proposal to ensure compliance with the provisions of this Section 3), or (b) following June 30, 2016, making a proposal regarding a possible Transaction directly to the CEO or Board of Directors of the Company on a confidential basis, (2) acquiring or offering to acquire, seeking, proposing or agreeing to acquire any third party that owns any securities or assets of the Company or (3) acquiring any securities of the Company in connection with any mutual fund, pension plan or employee benefit plan managed on behalf of employees or former employees of the Company.

Section 4.Restrictions on Dispositions.

4.1Lock-Up. During the Lock-Up Term, without the prior approval of the Company, each Investor shall not, and shall cause its Affiliates not to, Dispose of (x) any of the Purchased Shares, together with any shares of Common Stock issued in respect thereof as a result of any stock split, stock dividend, share exchange, merger, consolidation or similar recapitalization, and (y) any Common Stock issued as (or issuable upon the exercise of any warrant, right or other security that is issued as) a dividend or other distribution with respect to, or in exchange or in replacement of, the shares of Common Stock described in clause (x) of this sentence (collectively, the “Lock-Up Securities”); provided, however, that the foregoing shall not prohibit such Investor from (A) transferring Lock-Up Securities to a Permitted Transferee or (B) Disposing of any

Lock-Up Securities in order to reduce the beneficial ownership of the Standstill Parties or the FF Beneficial Investor to 19.9%, or such lesser percentage as advised in good faith and in writing by such Investor’s certified public accountants that would not require such Investor to include in its financial statements its portion of the Company’s financial results, of the Shares of Then Outstanding Common Stock or, in the case of the FF Beneficial Investor as advised in good faith and in writing by the FF Beneficial Investor to enable it to comply with applicable law or official undertaking.

4.2Certain Tender Offers. Notwithstanding any other provision of this Section 4, this Section 4 shall not prohibit or restrict any Disposition of Shares of Then Outstanding Common Stock and/or Common Stock Equivalents by the Standstill Parties into (a) a tender offer by a Third Party which is not opposed by the Company’s Board of Directors (but only after the Company’s filing of a Schedule 14D-9, or any amendment thereto, with the SEC disclosing the recommendation of the Company’s Board of Directors with respect to such tender offer) or (b) an issuer tender offer by the Company.

Section 5.Termination of Certain Rights and Obligations.

5.1Termination of Required Period. Except for Section 2.7, which shall survive until the expiration of any applicable statutes of limitation, Section 2 shall terminate automatically and have no further force or effect upon the earliest to occur of:

(a)the expiration of the Required Period;

(b)the date on which the Common Stock ceases to be registered pursuant to Section 12 of the Exchange Act; and

(c)a liquidation or dissolution of the Company.

5.2Termination of Standstill Term. Section 3 shall terminate and have no further force or effect, upon the earliest to occur of:

(a)May 29, 2017;

(b)the date that the Company enters into a definitive agreement with respect to, or publicly announces that it plans to enter into, a transaction involving all or more than 50% of the Company’s equity securities or all or substantially all of the Company’s assets (whether by merger, consolidation, business combination, tender or exchange offer, recapitalization, restructuring, sale, equity issuance or otherwise); and

(c)the date that any person commences a tender or exchange offer that, if consummated, would make such person (or any of its affiliates) the beneficial owner (within the meaning of Section 13(d)(1) of the Exchange Act) of more than 50% of the Company’s equity securities;

5.3Termination of Lock-Up Term. Section 4 shall terminate and have no further force or effect upon the earliest to occur of:

(a)the date three (3) months after the Closing Date;

(b)the consummation by a Person or group of a Change of Control of the Company, which, in the case of a tender offer, shall be deemed to occur upon the commencement of a tender offer for all outstanding shares of Common Stock;

(c)the date on which the Common Stock ceases to be registered pursuant to Section 12 of the Exchange Act; and

(d)a liquidation or dissolution of the Company.

5.4Effect of Termination. No termination pursuant to any of Sections 6.1, 6.2, 6.3 or 6.4 shall relieve any of the parties (or the Permitted Transferee, if any) for liability for breach of or default under any of their respective obligations or restrictions under any terminated provision of this Agreement, which breach or default arose out of events or circumstances occurring or existing prior to the date of such termination.

Section 6.Miscellaneous.

6.1Governing Law; Submission to Jurisdiction. This Agreement and all claims or causes of action (whether in tort, contract or otherwise) that may be based upon, arise out of or relate to this Agreement or the negotiation, execution or performance of this Agreement (including any claim or cause of action based upon, arising out of or related to any representation or warranty made in or in connection with this Agreement) shall be governed by and construed in accordance with the Laws of the State of Delaware, without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the Laws of any jurisdiction other than the State of Delaware.

6.2Waiver. Waiver by a party of a breach hereunder by another party shall not be construed as a waiver of any subsequent breach of the same or any other provision. No delay or omission by a party in exercising or availing itself of any right, power or privilege hereunder shall preclude the later exercise of any such right, power or privilege by such party. No waiver shall be effective unless made in writing with specific reference to the relevant provision(s) of this Agreement and signed by a duly authorized representative of the party granting the waiver.

6.3Notices. All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon the earlier of actual receipt, or (a) personal delivery to the party to be notified, (b) when sent, if sent by electronic mail or facsimile during normal business hours of the recipient, and if not sent during normal business hours, then on the recipient’s next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) business day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next business day delivery, with written verification of receipt. All communications shall be sent to the respective parties at their address as set forth on Exhibit A hereto, or to such e-mail address, facsimile number or address as subsequently modified by written notice given in accordance with this Section 6.3.

6.4Entire Agreement. This Agreement, the Purchase Agreement and in the case of the Company, the FF Investor and the FF Beneficial Investor, the FF Side Letter, contain the entire agreement among the parties with respect to the subject matter hereof and thereof and supersede all prior and contemporaneous arrangements or understandings, whether written or oral, with respect hereto and thereto. The provisions of the FF Side Letter will prevail over the provisions of this Agreement to the extent of any inconsistency.

6.5Amendments. Any term of this Agreement may be amended or terminated only with the written consent of the Company, the Holders and the FF Beneficial Investor.

6.6Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

6.7Severability. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision.

6.8Assignment.

(a)The rights of any Holder hereunder may be assigned in whole or in part (but only with all restrictions and obligations set forth in this Agreement) by a Holder to a Permitted Transferee which acquires at least 25,000 Registrable Securities (subject to adjustment in the event of any stock split, stock dividend, share exchange, merger, consolidation or similar recapitalization) from such Holder; provided, however, (i) such Holder shall, within five (5) days prior to such transfer, furnish to the Company written notice of the name and address of such Permitted Transferee, details of its status as a Permitted Transferee and details of the Registrable Securities with respect to which such registration rights are being assigned, (ii) the Permitted Transferee, prior to or simultaneously with such transfer or assignment, shall agree in writing to be subject to and bound by all restrictions and obligations set forth in this Agreement, (iii) the applicable Investor shall continue to be bound by all restrictions and obligations set forth in this Agreement and (iv) such transfer or assignment shall be effective only if immediately following such transfer or assignment the further disposition of such Registrable Securities by the Permitted Transferee is restricted under the Securities Act and other applicable securities Law.

(b)Except for an assignment of this Agreement by a Holder to a Permitted Transferee in accordance with Section 6.8(a), neither this Agreement nor any rights or duties of a party hereto may be assigned by such party, in whole or in part, without (a) the prior written consent of the Company in the case of any assignment by a Holder; or (b) the prior written consent of the Investors in the case of an assignment by the Company.

6.9Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

6.10Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

6.11Third Party Beneficiaries. None of the provisions of this Agreement shall be for the benefit of or enforceable by any Third Party other than any Affiliate of an Investor. No Third Party with the exception of any Affiliate of an Investor shall obtain any right under any provision of this Agreement

or shall by reason of any such provision make any claim in respect of any debt, liability or obligation (or otherwise) against any party hereto.

6.12 No Strict Construction. This Agreement has been prepared jointly and will not be construed against any party.

6.13Remedies. The rights, powers and remedies of the parties under this Agreement are cumulative and not exclusive of any other right, power or remedy which such parties may have under any other agreement or Law. No single or partial assertion or exercise of any right, power or remedy of a party hereunder shall preclude any other or further assertion or exercise thereof.

6.14Specific Performance. The Company and each Investor hereby acknowledge and agree that the rights of the parties hereunder are special, unique and of extraordinary character, and that if any party refuses or otherwise fails to act, or to cause its Affiliates to act, in accordance with the provisions of this Agreement, such refusal or failure may result in irreparable injury to the Company or such Investor, as the case may be, the exact amount of which would be difficult to ascertain or estimate and the remedies at law for which would not be reasonable or adequate compensation. Accordingly, if any party refuses or otherwise fails to act, or to cause its Affiliates to act, in accordance with the provisions of this Agreement, then, in addition to any other remedy which may be available to any damaged party at law or in equity, such damaged party will be entitled to seek specific performance and injunctive relief, without posting bond or other security, and without the necessity of proving actual or threatened damages, which remedy such damaged party will be entitled to seek in any court of competent jurisdiction.

6.15No Conflicting Agreements. Each Investor hereby represents and warrants to the Company that neither it nor any of its Affiliates is, as of the date of this Agreement, a party to, and agrees that neither it nor any of its Affiliates shall, on or after the date of this Agreement, enter into any agreement that conflicts with the rights granted to the Company in this Agreement. The Company hereby represents and warrants to each Holder that it is not, as of the date of this Agreement, a party to, and agrees that it shall not, on or after the date of this Agreement, enter into any agreement or approve any amendment to its organizational documents with respect to its securities that conflicts with the rights granted to the Holders in this Agreement. The Company further represents and warrants that the rights granted to the Holders hereunder do not in any way conflict with the rights granted to any other holder of the Company’s securities under any other agreements.

6.16No Publicity. The parties hereto agree that the provisions of Section 4.1 of the Purchase Agreement shall be applicable to the parties to this Agreement with respect to any public disclosures regarding the proposed transactions

contemplated hereby or by the Purchase Agreement or regarding the parties hereto or their Affiliates (it being understood that the provisions of Section 4.1 of the Purchase Agreement shall be read to apply to disclosures of information relating to this Agreement and the transactions contemplated hereby).

6.17Limitation of Liability. IN NO EVENT WILL ANY PARTY BE LIABLE TO ANY OTHER PARTY (OR SUCH OTHER PARTY’S AFFILIATES) IN CONNECTION WITH THIS AGREEMENT FOR LOST REVENUE, LOST PROFITS, LOST SAVINGS, LOSS OF USE, DAMAGE TO GOODWILL, OR ANY CONSEQUENTIAL, INCIDENTAL, SPECIAL, EXEMPLARY, PUNITIVE OR INDIRECT DAMAGES UNDER ANY THEORY, INCLUDING CONTRACT, NEGLIGENCE, OR STRICT LIABILITY, EVEN IF THAT PARTY HAS BEEN PLACED ON NOTICE OF THE POSSIBILITY OF SUCH DAMAGES.

6.18Construction. Whenever required by the context, any pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular forms of nouns, pronouns, and verbs shall include the plural and vice versa. Reference to any agreement, document, or instrument means such agreement, document, or instrument as amended or otherwise modified from time to time in accordance with the terms thereof and, if applicable, hereof. A reference to any party hereto includes such party’s permitted assignees and/or the respective successors in title to substantially the whole of such party’s undertaking. All references to “Sections” and “Exhibits” contained in this Agreement are, unless specifically indicated otherwise, references to sections or exhibits of or to this Agreement. The recitals and exhibits to this Agreement form part of the operative provisions of this Agreement and references to this Agreement shall, unless the context otherwise requires, include references to the recitals and exhibits to this Agreement. As used in this Agreement, the following terms shall have the meanings indicated: (a) “day” means a calendar day; (b) “U.S.” or “United States” means the United States of America; (c) “dollar” or “$” means lawful currency of the United States; (d) “including” or “include” means “including without limitation”; and (e) references in this Agreement to specific laws includes the succeeding law, section, or provision corresponding thereto and the rules and regulations promulgated thereunder.

6.19The FF Investor Limitation of Liability. The FF Investor enters into and is liable under (a) this Agreement, (b) any other document or agreement which the FF Investor may be required to provide under this Agreement and (c) any document or agreement executed by the Company or any other person as agent or attorney of the FF Investor under this Agreement only in its capacity as custodian for the FF Beneficial Investor, and to the extent that it is actually indemnified by the FF Beneficial Investor. To the extent this paragraph operates to reduce the amounts for which the FF Investor would otherwise be liable to any person, the FF Beneficial Investor will pay or procure the payment of such amounts to such person.

[signature page follows]

IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the date first above written.

COMPANY:

TESARO, INC.

By:

Name: Joseph L. Farmer

Title: Senior VP and General Counsel

IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the date first above written.

INVESTORS:

Ally Bridge LB Healthcare Master Fund Limited

By:

Name:

Title: Director

ABG Innovation III-SO Limited

By:

Name: Law Thin Ken

Title: Director

IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the date first above written.

FF INVESTOR:

THE NORTHERN TRUST COMPANY

being a person who, in accordance with the laws of that territory, is acting under the authority of the company in the presence of:

…………………………………………….

Signature of witness

…………………………………………….

Name of witness (block letters)

…………………………………………….

Address of witness

Date:

)

…………………………………………….

By executing this agreement the signatory warrants that the signatory is duly authorized to execute this agreement on behalf of THE NORTHERN TRUST COMPANY

IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the date first above written.

FF BENEFICIAL INVESTOR:


Signed for and on behalf of Future Fund Investment Company No.4 Pty Ltd by:
Name of Director		Signature of Director
		Date

EXHIBIT A

NOTICES

If to the Company:

1000 Winter Street

Suite #3300

Waltham, MA 02451

If to the FF Investor:

The Northern Trust Company

Level 47, 80 Collins Street

Melbourne VIC 3000 Australia

If to the FF Beneficial Investor:

Future Fund Investment Company No.4 Pty Ltd

Level 43, 120 Collins Street

Melbourne VIC 3000 Australia

If to Ally Bridge:

Unit 3002-04, 30th Floor, Gloucester Tower

The Landmark

15 Queen’s Road Central

Hong Kong

EXHIBIT C

Form of Amendment No. 2 to the

Second Amended and Restated Investors’ Rights Agreement

See attached.

Amendment No. 2

SECOND Amended and Restated INVESTORS’ RIGHTS Agreement

The Second Amended and Restated Investors’ Rights Agreement (as amended, the “Agreement”), dated as of June 6, 2011, among TESARO, INC., a Delaware corporation (the “Company”), the investors listed on Schedule A thereto (the “Investors”), OPKO Health, Inc., a Delaware corporation, and the persons listed on Schedule B thereto (the “Founders”), as amended by Amendment No. 1, dated as of July 7, 2011, is hereby amended by this Amendment No. 2 (this “Amendment”) as of [___], 2016 (“Amendment Effective Date”). Any capitalized term used herein, but not defined herein, shall have the meaning of such term set forth in the Agreement.

WHEREAS, pursuant to Section 4.7 of the Agreement, the Company and the undersigned Investors desire to amend the Agreement as set forth below.

NOW, THEREFORE, the Company and the undersigned Investors hereby agree that the Agreement is hereby amended by this Amendment and further agree as follows:

1.AMENDMENTS

1.1 The definition of “Registrable Securities” set forth in Section 1 of the Agreement is hereby amended and restated by replacing such definition with the following definition:

1.2Section 2.13 of the Agreement is hereby amended to include the following immediately prior to the period at the end of such section:

“; provided, however, that notwithstanding the foregoing, with respect to any Holder that purchased Registrable Securities in the 2016 Private Placement, such Holder shall be entitled to exercise any right provided for in this Section 2 until (i) three (3) years following [to be Amendment Effective Date], (ii) as to such Holder, such earlier time following the second anniversary of [to be Amendment Effective Date] at which such Holder (A) holds less than one percent (1%) of the Company’s outstanding Common Stock and (B) all Registrable Securities held by such Holder (together with any affiliate of the Holder with whom such Holder must aggregate its sales under Rule 144) can be sold in any three (3)-month period without registration in compliance with Rule 144 or (iii) the earlier consummation of a Liquidation Event, as that term is defined in the Company’s Restated Certificate”

2.JOINDER OF NEA 15 OPPORTUNITY FUND, L.P.

3.MISCELLANEOUS

Except as modified by this Amendment, which shall be effective as of the Amendment Effective Date, the Agreement shall remain in full force and effect, enforceable in accordance with its terms.

[signature page follows]

IN WITNESS WHEREOF, the Company has executed this Amendment as of the Amendment Effective Date.

COMPANY:

TESARO, Inc.

By:

Name:

Title:

IN WITNESS WHEREOF, the undersigned Investors have executed this Amendment as of the Amendment Effective Date.

KPCB HOLDINGS, INC.,

as nominee

By:

Name:

Title:

IN WITNESS WHEREOF, the undersigned Investors have executed this Amendment as of the Amendment Effective Date.

New Enterprise Associates 13, L.P.

By: NEA Partners 13, L.P., its general partner

By: NEA 13 GP, LTD, its general partner

By:

Name:

Title:

NEA 15 Opportunity Fund, L.P.

By: NEA Partners 15-OF, L.P., its general partner

By: NEA 15 GP, LLC, its general partner

By:

Name:

Title:

IN WITNESS WHEREOF, the undersigned Investors have executed this Amendment as of the Amendment Effective Date.



	INTERWEST PARTNERS X, LP

	By: InterWest Management Partners X, LLC, its general partner


	By:
	Name:
	Title:

EXHIBIT D

Form of FF Side Letter

See attached.

FINAL FORM

[Date] [Month] 2016

The Northern Trust Company,

in its capacity as custodian for

Future Fund Investment Company No.4 Pty Ltd

Level 47, 80 Collins Street

Melbourne Vic 3000

Australia

Future Fund Investment Company No.4 Pty Ltd

(ACN 134 338 926)

Level 43, 120 Collins Street

Melbourne Vic 3000

Australia

Ladies and Gentlemen:

Reference is made to that certain Stock Purchase Agreement, dated as of 24, February 2016 (the “Stock Purchase Agreement”), by and among TESARO, Inc., (the “Company”), Future Fund Investment Company No.4 Pty Ltd (the “Beneficial Investor”), and certain investors including The Northern Trust Company in its capacity as custodian for the Beneficial Investor (the “Custodian”), pursuant to which the Custodian is purchasing 852,514 shares of Common Stock (par value $0.0001 per share) of the Company (the “Shares”), at a price per share of the Per Share Price (as defined in the Stock Purchase Agreement) in its capacity as custodian for the Beneficial Investor.

This letter agreement will confirm that pursuant to, and effective upon, the execution of the Stock Purchase Agreement and the related issuance of Shares, the Company, the Beneficial Investor and the Custodian agree as follows:

1.Terms of agreement.

1.1Custodian limitation of liability. The Custodian has entered into and shall be liable under the following documents (as amended from time to time) only in its capacity as custodian for the Beneficial Investor, and to the extent that it is actually indemnified by the Beneficial Investor (together, the Transaction Documents):

(a)This letter agreement;

(b)The Stock Purchase Agreement;

(c)Amended and Restated Certificate of Incorporation of the Company and Amended and Restated Bylaws of the Company;

(d)Investor Agreement, by and among the Company, the Custodian and other New Investors (as defined in the Stock Purchase Agreement) and the Beneficial Investor dated on or about the date of this letter agreement (the “Investor Agreement”); and

(e)Any document entered into by the Company as proxy or on behalf of the Custodian.

To the extent this paragraph 1.1 operates to reduce the amounts for which the Custodian would otherwise be liable to any person, the Beneficial Investor will pay or procure the payment of such amounts to such person.

1.2Permitted transfers.

(a)The Company must consent to, permit, and update its books and records to reflect, a transfer by the Custodian of any or all of its purchased Shares (as defined in the Stock Purchase Agreement) (including as adjusted for any stock split, stock dividend, share exchange, merger, consolidation or similar recapitalization, and any Common Stock issued (or issuable) as a dividend or other distribution with respect to or in exchange for or replacement of the Shares, in each case, after the date hereof) to any one or more of the following persons (each a “Permitted Transferee”):

(i)the Future Fund Board of Guardians;

(ii)any person controlling, controlled by, or under common control with, the Future Fund Board of Guardians;

(iii)the trustee of a trust in which all or substantially all of the beneficial interests thereof are held directly or indirectly by the Future Fund Board of Guardians or any person controlling, controlled by, or under common control with, the Future Fund Board of Guardians; or

(iv)any custodian for any of the foregoing.

(b)In the case of a transfer to a Permitted Transferee, the Company waives the following requirements of section 6.8 of the Investor Agreement:

(i)the minimum number of Registrable Securities to be transferred; and

(ii)paragraph 6.8(a)(iii) with respect to the Shares transferred to such Permitted Transferee.

(c)Following any such transfer to a Permitted Transferee, the Company will ensure that such Permitted Transferee is given the benefit of the terms of the Transaction Documents as if such Permitted Transferee had executed the Transaction

Documents in place of the Custodian. At the request of such Permitted Transferee, the Company will execute a new or amended agreement with such Permitted Transferee containing terms and conditions substantially equivalent to the terms and conditions set forth in this letter agreement.

1.3Constraints on publicity. Except as may be required by applicable laws or by the rules of any stock exchange or listing authority, the Company will not, and will ensure that its respective affiliates do not, without the prior written consent of the Custodian or the Beneficial Investor, (a) make any press release or other public disclosure about the investment of the Beneficial Investor (or any entity associated with the Beneficial Investor, including the Future Fund Board of Guardians) in the Company; or (b) in any non-public disclosure, describe the Beneficial Investor (or any entity associated with the Beneficial Investor) as an anchor investor (or as anything synonymous to an anchor investor); provided, however, that once a statement has been made public in accordance herewith, the Company may repeat and redistribute such statement or make any statement substantially consistent therewith without the prior written consent of the Beneficial Investor or the Custodian.

1.4Bank account details.

(a)The Company will ensure that all distributions or payments to the Custodian from the Company are placed into the account whose details are set out in Exhibit A. The Beneficial Investor or the Custodian may, by written notice to the Company, update the account details set out in Exhibit A.

(b)The Company confirms that all payments to the Company from the Custodian may be made into the account whose details are set out in Exhibit A.

1.5Written communications.

(a)The Company (a) must ensure that each notice or written communication given by the Company to the Custodian and/or the Beneficial Investor, including any such notices required pursuant to the Transaction Documents, is sent to the fax numbers, e-mail addresses or postal addresses set out in Exhibit B (as updated from time to time by the Custodian or the Beneficial Investor by notice to the Company) and (b) will not require the Custodian to act, or not act, or change any course of action pursuant to any notice or other written communication unless paragraph (a) hereof has been complied with in respect of that notice of written communication.

(b)The Company acknowledges that the information in Exhibit B to this letter agreement is deemed to have been provided pursuant to Section 7.6 of the Stock Purchase Agreement and Section 6.3 of the Investor Agreement.

1.6Confidentiality.

(a)The Custodian and the Beneficial Investor may disclose, without any further notice or other action from the Custodian or the Beneficial Investor, information and documents that would otherwise be confidential to:

(i)each other, the Future Fund Board of Guardians, the Future Fund Management Agency, and the Future Fund Board of Guardians’ wholly owned subsidiaries (the “Future Fund Disclosure Parties”)

(ii)the directors, board members, officers, employees, agents, auditors and advisers of the Future Fund Disclosure Parties;

(iii)any service providers utilized by a Future Fund Disclosure Party; and

(iv)any other person to whom disclosure of such information or documents is required under applicable laws, rules, regulations, orders, rulings, governmental policies, conventions, official requests or requirements, or in respect of whom non-disclosure may incur a penalty or disadvantage under applicable laws, rules, regulations, orders, rulings, governmental policies, conventions, official requests or requirements; provided that the Custodian and the Beneficial Investor shall disclose only such confidential information that it is so required to disclose or in respect of which it would incur a penalty or disadvantage if it did not disclose.

(b)The Custodian and the Beneficial Investor will ensure that, except to the extent that a disclosure must be made available to the public under applicable laws, rules, regulations, orders, rulings, governmental policies, conventions, official requests or requirements, any person to whom information or documents are disclosed under paragraph 1.6(a) is informed or otherwise understands that such information or documents are disclosed in confidence, in accordance with this letter agreement.

(c)In addition to the foregoing, the Future Fund Disclosure Parties may disclose the following information to any person:

(i)that the Future Fund Board of Guardians, the Custodian or the Beneficial Investor has an interest in the Company, the jurisdiction of formation or domiciliation of the Company, and the percentage of the equity of the Company which that interest comprises; and

(ii)any ratios, statistics, or other aggregated information calculated using the foregoing information, as well as information on the general investment strategy or general objectives of the Company and the net capital cost, and the fair value of the Shares of the Custodian; provided that, notwithstanding the foregoing, the Future Fund Disclosure Parties shall be prohibited from specifically identifying any such ratios, statistics, or other aggregated information as relating exclusively to the Company.

1.7Voting securities. For so long as the Custodian is the record holder of the Shares, the Company will notify the Beneficial Investor prior to any Company action that, to the knowledge of the Company after making reasonable enquiries, would result in the percentage of the voting securities of the Company or, if securities in the Company are exchanged for securities in a

company or other entity that are or become quoted on a stock exchange (whether by way of merger, sale or otherwise) (an “Acquiring Company”), or of an Acquiring Company held by the Custodian:

(a)increasing from below 10% to a percentage equal to or greater than 10%;

(b)increasing from below 15% to a percentage equal to or greater than 15%; or

(c)increasing to a percentage equal to or greater than 18%.

1.8Distributions in specie. For so long as the Custodian is the record holder of the Shares, the Company: (a) will not distribute any ‘non-financial assets’ (that term having the same meaning as when used in the Future Fund Act 2006 (Cth)) to the Custodian (including on winding up of the Company) without the prior written consent of the Custodian and (b) will procure that non-financial assets are not paid as consideration to the Custodian without the prior written consent of the Custodian. If the Company proposes to distribute any non-financial assets to any of the holders of capital stock in the Company, or it is otherwise proposed that non-financial assets be paid as consideration to the holders of capital stock in the Company, the Company will ensure that the Custodian’s portion of such non-financial assets are instead (at the Custodian’s election and expense):

(a)sold for cash by the Company on behalf of the Custodian; or

(b)transferred to a third party broker to sell for cash on behalf of the Custodian.

1.9Responsibility for tax filings. The Company acknowledges that it is responsible for arranging the timely filing of all tax returns (including the discharge of all associated tax payment and tax withholding obligations) in all relevant jurisdictions for itself and its subsidiaries. In the case of the United States, this shall include filing of all federal, state and local tax returns. The costs of preparing and filing tax returns for the Company and all entities controlled directly or indirectly by the Company shall be borne by the Company and those entities.

1.10Tax status. The Company is and always has been a subchapter C corporation for United States federal income tax purposes. Except with 60 days’ prior written notice to the Custodian and Beneficial Investor, the Company will not take any action or make any election that results in it being classified other than as a subchapter C corporation for United States federal income tax purposes.

1.11Withholding taxes. The Company shall notify the Beneficial Investor of any taxes that have been withheld or are otherwise payable by or on behalf of the Custodian or the Beneficial Investor in any country in connection with the Company.

2.Miscellaneous. This letter agreement constitutes the entire agreement among the parties hereto with respect to the subject matter contained herein and supersedes all prior oral or written agreements, if any, between the parties hereto with respect to such subject matter. In the event that there is a conflict between this letter agreement and the other Transaction Documents, the terms of this letter govern. This letter agreement and any controversy arising out of or relating to

this letter agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, regardless of the laws that might otherwise govern under applicable principles of conflicts of law. No amendment, alteration, modification of, or addition to this letter agreement will be valid or binding unless expressed in writing and signed by all parties. This letter agreement may be executed and delivered by facsimile or electronic signature and in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one (1) and the same instrument.

[signature page follows]

IN WITNESS WHEREOF, the parties have executed this letter agreement effective as of the date and year first written above.


	TESARO, INC.

	By:
	Name:
	Title:

ACKNOWLEDGED AND ACCEPTED:

Agreed to and accepted by:

being a person who, in accordance with the laws of that territory, is acting under the authority of the company in the presence of:

Signature of witness

Name of witness (block letters)

Address of witness

)

......................................................
By executing this agreement the signatory warrants that the signatory is duly authorized to execute this agreement on behalf of THE NORTHERN TRUST COMPANY


Executed by Future Fund Investment Company No.4 Pty Ltd:
Signature of Director
Name of Director
Date

EX-10.2 5 tsro-20160331ex1024bf8c6.htm EX-10.2 tsro_Ex10_2

Exhibit 10.2

AMENDMENT NO. 2

TO COLLABORATION AND EXCLUSIVE LICENSE AGREEMENT

This Amendment No. 2 to the Collaboration and Exclusive License Agreement (this “Amendment”) effective as of February 29, 2016 (the “Amendment Date”), is entered into is made by and between (i) AnaptysBio, Inc., a Delaware corporation, having a place of business at 10421 Pacific Center Court, Suite 200, San Diego, California 92121 (“AnaptysBio”), and (ii) TESARO, Inc., a Delaware corporation, having a place of business at 1000 Winter Street, Suite 3300, Waltham, Massachusetts 02541 (“TESARO US”) and TESARO Development, Ltd., a Bermuda corporation, having its principal office at Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda (together with TESARO US, “TESARO”).

WHEREAS, the parties previously entered into that certain Collaboration and Exclusive License Agreement dated as of March 10, 2014 (the “Agreement”);

WHEREAS, the parties wish to amend the Agreement in certain respects on the terms and conditions set forth herein.

NOW THEREFORE, capitalized terms not defined in this Amendment shall have the meaning ascribed in the Agreement, and the parties hereby agree as follows:

Section 2.7 of the Agreement is hereby amended and replaced in its entirety as follows:

2.7.Term of Discovery Program. Each Discovery Program Term shall commence on the Effective Date and shall end upon the earlier of (i) December 31st 2016, or such other date as the Parties may agree through the JSC, (ii) a decision by TESARO to discontinue funding of all activities under such Discovery Program, or (iii) a mutual decision by TESARO and AnaptysBio to cease activities with respect to that Discovery Program.

This Amendment shall be effective for all purposes as of the Amendment Date. Except as expressly modified herein, the Agreement shall continue to remain in full force and effect in accordance with its terms. This Amendment may be executed in counterparts, each of which shall be deemed to be an original and together shall be deemed to be one and the same document.

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective duly authorized representatives effective as of the Amendment Date.


TESARO, INC.		ANAPTYSBIO, Inc.

By: /s/ Mary Lynne Hedley		By: /s/ Hamza Suria

Name: Mary Lynne Hedley		Name: Hamza Suria

Title: President and Chief Operating Officer		Title: President & CEO



TESARO DEVELOPMENT, LTD.

By: /s/ Joseph Farmer

Name: Joseph Farmer

Title: Director/Vice President

EX-31.1 6 tsro-20160331ex31193b58a.htm EX-31.1 tsro_Ex31_1

Exhibit 31.1

CERTIFICATION

I, Leon O. Moulder, Jr., certify that:

I have reviewed this Quarterly Report on Form 10-Q of TESARO, Inc.;

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.


Date: May 6, 2016

	/s/ Leon O. Moulder, Jr.
	Leon O. Moulder, Jr.
	Chief Executive Officer
	(principal executive officer)

EX-31.2 7 tsro-20160331ex3126ecfcb.htm EX-31.2 tsro_Ex31_2

Exhibit 31.2

CERTIFICATION

I, Timothy R. Pearson, certify that:

I have reviewed this Quarterly Report on Form 10-Q of TESARO, Inc.;

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.


Date: May 6, 2016

	/s/ Timothy R. Pearson
	Timothy R. Pearson
	Executive Vice President and Chief Financial Officer
	(principal financial officer)

EX-32.1 8 tsro-20160331ex3214212dc.htm EX-32.1 tsro_Ex32_1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of TESARO, Inc., or the Company, on Form 10-Q for the period ended March 31, 2016 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Leon O. Moulder, Jr., Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.


	/s/ Leon O. Moulder, Jr.
	Leon O. Moulder, Jr.
	Chief Executive Officer
May 6, 2016

EX-32.2 9 tsro-20160331ex32217f05c.htm EX-32.2 tsro_Ex32_2

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of TESARO, Inc., or the Company, on Form 10-Q for the period ended March 31, 2016 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Timothy R. Pearson, Executive Vice President and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.


	/s/ Timothy R. Pearson
	Timothy R. Pearson
	Executive Vice President and Chief Financial Officer
May 6, 2016

EX-101.INS 10 tsro-20160331.xml EX-101.INS 0001491576 tsro:AmendmentOfOperatingLeaseMember tsro:OperatingLeaseMember 2015-04-30 0001491576 us-gaap:CommonStockMember us-gaap:PrivatePlacementMember 2016-03-31 0001491576 us-gaap:CommonStockMember 2016-03-18 0001491576 us-gaap:CommonStockMember us-gaap:IPOMember 2015-03-31 0001491576 us-gaap:EmployeeStockOptionMember 2015-12-31 0001491576 us-gaap:EmployeeStockMember 2016-03-31 0001491576 tsro:DirectorIncentivePlan2015Member us-gaap:CommonStockMember 2015-05-14 0001491576 tsro:OmnibusIncentivePlan2012Member us-gaap:CommonStockMember 2016-01-01 2016-01-01 0001491576 tsro:OmnibusIncentivePlan2012Member us-gaap:CommonStockMember 2015-05-14 2015-05-14 0001491576 tsro:OmnibusIncentivePlan2012Member us-gaap:CommonStockMember 2015-01-01 2015-01-01 0001491576 us-gaap:RestrictedStockUnitsRSUMember 2015-12-31 0001491576 us-gaap:CommonStockMember us-gaap:SubsequentEventMember tsro:JjdcMember 2016-04-05 0001491576 us-gaap:CommonStockMember us-gaap:SubsequentEventMember tsro:JjdcMember 2016-04-05 2016-04-05 0001491576 us-gaap:CommonStockMember us-gaap:SubsequentEventMember 2016-04-05 2016-04-05 0001491576 us-gaap:CommonStockMember 2016-03-18 2016-03-18 0001491576 us-gaap:CommonStockMember us-gaap:PrivatePlacementMember 2016-03-01 2016-03-31 0001491576 us-gaap:ConvertibleDebtMember 2014-09-01 2014-09-30 0001491576 us-gaap:RestrictedStockUnitsRSUMember 2016-03-31 0001491576 us-gaap:RestrictedStockUnitsRSUMember 2016-01-01 2016-03-31 0001491576 us-gaap:EmployeeStockOptionMember 2016-01-01 2016-03-31 0001491576 us-gaap:ConvertibleDebtMember 2014-09-30 0001491576 us-gaap:ConvertibleDebtMember 2014-09-29 0001491576 tsro:ConversionOfConvertibleNotesIntoCommonStockAfterDecember312014Member us-gaap:ConvertibleDebtMember 2016-01-01 2016-03-31 0001491576 us-gaap:ConvertibleDebtMember 2016-03-31 0001491576 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2016-03-31 0001491576 us-gaap:MoneyMarketFundsMember us-gaap:FairValueMeasurementsRecurringMember 2016-03-31 0001491576 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2015-12-31 0001491576 us-gaap:MoneyMarketFundsMember us-gaap:FairValueMeasurementsRecurringMember 2015-12-31 0001491576 2015-03-31 0001491576 2014-12-31 0001491576 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2016-03-31 0001491576 us-gaap:FairValueMeasurementsRecurringMember 2016-03-31 0001491576 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2015-12-31 0001491576 us-gaap:FairValueMeasurementsRecurringMember 2015-12-31 0001491576 us-gaap:RestrictedStockMember 2016-01-01 2016-03-31 0001491576 us-gaap:EmployeeStockOptionMember 2016-01-01 2016-03-31 0001491576 us-gaap:ConvertibleDebtSecuritiesMember 2016-01-01 2016-03-31 0001491576 us-gaap:RestrictedStockMember 2015-01-01 2015-03-31 0001491576 us-gaap:EmployeeStockOptionMember 2015-01-01 2015-03-31 0001491576 us-gaap:ConvertibleDebtMember 2015-01-01 2015-03-31 0001491576 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2016-01-01 2016-03-31 0001491576 us-gaap:ResearchAndDevelopmentExpenseMember 2016-01-01 2016-03-31 0001491576 us-gaap:EmployeeStockMember 2016-01-01 2016-03-31 0001491576 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2015-01-01 2015-03-31 0001491576 us-gaap:ResearchAndDevelopmentExpenseMember 2015-01-01 2015-03-31 0001491576 us-gaap:EmployeeStockMember 2015-01-01 2015-03-31 0001491576 2015-12-31 0001491576 us-gaap:EmployeeStockOptionMember 2016-03-31 0001491576 tsro:OmnibusIncentivePlan2012Member us-gaap:CommonStockMember 2012-04-27 0001491576 tsro:OmnibusIncentivePlan2012Member us-gaap:CommonStockMember 2016-01-01 2016-03-31 0001491576 us-gaap:CommonStockMember us-gaap:IPOMember 2015-03-01 2015-03-31 0001491576 tsro:AmendmentOfOperatingLeaseMember tsro:OperatingLeaseMember 2015-04-01 2015-04-30 0001491576 2014-07-31 0001491576 us-gaap:PrivatePlacementMember 2016-03-01 2016-03-31 0001491576 us-gaap:PrivatePlacementMember 2016-03-31 0001491576 us-gaap:CommonStockMember us-gaap:SubsequentEventMember tsro:JjdcMember 2016-04-04 2016-04-04 0001491576 us-gaap:CommonStockMember us-gaap:PrivatePlacementMember 2016-03-17 2016-03-17 0001491576 us-gaap:SubsequentEventMember us-gaap:PrivatePlacementMember 2016-04-05 2016-04-05 0001491576 2016-03-31 0001491576 us-gaap:ConvertibleDebtMember 2016-01-01 2016-03-31 0001491576 tsro:ConversionOfConvertibleNotesWhenCommonShareTradingPriceIsLessThanNinetyEightPerCentOfTargetRatioMember us-gaap:ConvertibleDebtMember 2016-01-01 2016-03-31 0001491576 tsro:MerckSharpDohmeCorpMember us-gaap:OtherCurrentAssetsMember 2016-03-31 2016-03-31 0001491576 tsro:MerckSharpDohmeCorpMember 2016-01-01 2016-03-31 0001491576 us-gaap:ConvertibleDebtMember 2014-09-29 2014-09-29 0001491576 us-gaap:SubsequentEventMember tsro:JanssenMember 2016-04-01 2016-04-30 0001491576 2015-01-01 2015-03-31 0001491576 2016-05-02 0001491576 2016-01-01 2016-03-31 tsro:segment iso4217:USD xbrli:shares xbrli:pure tsro:agreement tsro:director tsro:item utr:sqft iso4217:USD xbrli:shares false --12-31 Q1 2016 2016-03-31 10-Q 0001491576 45845028 Yes Large Accelerated Filer TESARO, Inc. 204000 415000000 20800000 400000 900000 <div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;"> The following table sets forth total interest expense recognized related to the Convertible Notes during the three months ended March 31, 2015 and 2016 (in thousands):   <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:72.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:72.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="5" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Three Months Ended March 31, </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:72.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> 2015 </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> 2016 </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> </tr> <tr> <td valign="bottom" style="width:72.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Contractual interest expense </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,526 </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,509 </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:72.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Amortization of debt discount </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,026 </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,315 </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:72.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Amortization of debt issuance costs </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>174 </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>157 </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:72.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Total interest expense </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,726 </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,981 </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> </table></div>   </div><div style="margin-left:0%;margin-right:0%;"> </div><div style="margin-left:0%;margin-right:0%;"></div> </div> 1000 1000 99000 733000 70900 2000000 P2Y 1000000 <div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;"> New Accounting Pronouncements - Recently Issued   In May 2014, the FASB issued ASU No. 2014-09, which amends the guidance for accounting for revenue from contracts with customers.  This ASU supersedes the revenue recognition requirements in Accounting Standards Codification, or ASC, Topic 605, Revenue Recognition, and creates a new Topic 606, Revenue from Contracts with Customers.  Two adoption methods are permitted: retrospectively to all prior reporting periods presented, with certain practical expedients permitted; or retrospectively with the cumulative effect of initially adopting the ASU recognized at the date of initial application.  In August 2015, the FASB issued ASU No. 2015-14, which defers the effective date by one year to December 15, 2017 for annual reporting periods beginning after that date, including interim periods within those periods.  The FASB also approved permitting early adoption of the standard, but not before the original effective date of December 15, 2016.  In March 2016, the FASB issued ASU No. 2016-08, which clarifies the implementation guidance on principal versus agent considerations.  The Company is currently in the process of evaluating which adoption method it will utilize and the impact that the adoption of this guidance will have on its potential future revenue streams and consolidated financial statements.    In August 2014, the FASB issued ASU No. 2014-15, which is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures.  Substantial doubt about an entity’s ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued (or are available to be issued).  ASU No. 2014-15 provides guidance to an organization’s management, with principles and definitions intended to reduce diversity in the timing and content of disclosures commonly provided by organizations in the footnotes of their financial statements.  ASU No. 2014-15 is effective for annual reporting periods ending after December 15, 2016, and for annual and interim periods thereafter.  Early adoption is permitted.  We have not yet adopted this standard; however, if this standard had been adopted as of March 31, 2016, the Company believes that it would have concluded there was not substantial doubt about its ability to continue as a going concern.     In July 2015, the FASB issued ASU No. 2015-11, which amends existing guidance for measurement of inventory.  Current inventory guidance requires an entity to measure inventory at the lower of cost or market.  Market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin.  The amendments do not apply to inventory that is measured using last-in, first-out (LIFO) or the retail inventory method.  The amendments apply to all other inventory, which includes inventory that is measured using first-in, first-out or average cost.  An entity should measure all inventory to which the amendments apply at the lower of cost and net realizable value.  Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation.  Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method.  The amendments in this ASU more closely align the measurement of inventory in GAAP with the measurement of inventory in International Financial Reporting Standards.  The amendments are effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017.  The amendments should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. The Company is currently in the process of evaluating the impact that the adoption of this guidance will have on its consolidated financial statements and related disclosures.   In February 2016, the FASB issued ASU No. 2016-02, a comprehensive new lease accounting standard, which provides revised guidance on accounting for lease arrangements by both lessors and lessees and requires lessees to recognize a lease liability and a right-of-use asset for most leases.  The new guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early adoption permitted.  The new standard must be applied using a modified retrospective transition approach which requires application of the new guidance for all periods presented.  The Company is currently in the process of evaluating the impact that the adoption of this guidance will have on its consolidated financial statements and related disclosures.   In March 2016, the FASB issued ASU No. 2016-09, which simplifies various aspects of accounting for share-based payments to employees.  Key provisions of the new standard include requiring excess tax benefits and shortfalls to be recorded as income tax benefit or expense in the income statement, rather than in equity, and permitting an election to record the impact of pre-vesting forfeitures as they occur.  The new guidance is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years, with early adoption permitted.  The Company is currently in the process of evaluating the impact that the adoption of this guidance will have on its consolidated financial statements. </div><div style="margin-left:0%;margin-right:0%;"> </div><div style="margin-left:0%;margin-right:0%;"></div> </div> 1 2 P10D P5D 3 0 1 4000000 P1M 191500000 179950000 179800000 154972000 0.04 6857 18.39 0.9800 35000000

8019000

12334000

679000

1056000

36628000

40133000

-99000

688788000

853744000

3920000

100000

1814000

2106000

9258000

300000

3666000

5592000

2026000

2315000

174000

157000

2200000

2472000

500000

4807000

4791000

16000

7625000

20000

7068000

537000

255281000

343977000

236491000

325716000

224885000

300020000

<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;"> 2.  Basis of Presentation and Significant Accounting Policies   Basis of Presentation   The accompanying condensed consolidated financial statements are unaudited and have been prepared by TESARO in conformity with accounting principles generally accepted in the United States of America, or GAAP.   The Company’s condensed consolidated financial statements reflect the operations of the Company and its wholly-owned subsidiaries.  All significant intercompany balances and transactions have been eliminated in consolidation.  The Company currently operates in one business segment, which is the identification, acquisition, development and commercialization of oncology therapeutics and supportive care product candidates, and has a single reporting and operating unit structure.   Certain information and footnote disclosures normally included in the Company’s annual financial statements have been condensed or omitted.  These interim financial statements, in the opinion of management, reflect all normal recurring adjustments necessary for a fair presentation of the Company’s financial position and results of operations for the interim periods ended March 31, 2015 and 2016.   The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the full fiscal year.  These interim financial statements should be read in conjunction with the audited financial statements as of and for the year ended December 31, 2015 and the notes thereto, which are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.   Use of Estimates   The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, other comprehensive income and the related disclosures.  On an ongoing basis, management evaluates its estimates, including estimates related to sales of its approved product, accrued clinical trial and manufacturing development expenses, which form part of the Company’s research and development expenses, and stock-based compensation expense.  Significant estimates in these condensed consolidated financial statements include estimates made in connection with accrued research and development expenses, stock-based compensation expense, product revenue, and valuation of convertible notes.  The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances.  Actual results may differ from those estimates or assumptions.    Cash and Cash Equivalents   The Company considers all highly-liquid investments with original or remaining maturity from the date of purchase of three months or less to be cash equivalents.  Cash and cash equivalents include bank demand deposits and money market funds that invest primarily in certificates of deposit, commercial paper and U.S. government and U.S. government agency obligations.  Cash equivalents are reported at fair value.   Fair Value of Financial Instruments   The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values.  The fair value hierarchy prioritizes valuation inputs based on the observable nature of those inputs.  The fair value hierarchy applies only to the valuation inputs used in determining the reported fair value of the investments and is not a measure of investment credit quality.  The hierarchy defines three levels of valuation inputs:   Level 1 inputsQuoted prices in active markets for identical assets or liabilities   Level 2 inputsObservable inputs other than Level 1 inputs, including quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active   Level 3 inputsUnobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability   The following table presents information about the Company’s financial assets and liabilities that have been measured at fair value as of December 31, 2015 and March 31, 2016 and indicates the fair value hierarchy of the valuation inputs utilized to determine such fair value (in thousands):   <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="11" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> December 31, 2015 </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Description </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Balance Sheet Classification </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Total </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Level 1 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Level 2 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Level 3 </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Assets: </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Money market funds </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Cash and cash equivalents </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>224,885 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>224,885 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">  — </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">  — </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Total assets </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>224,885 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>224,885 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">  — </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">  — </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>     <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="11" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> March 31, 2016 </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Description </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Balance Sheet Classification </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Total </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Level 1 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Level 2 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Level 3 </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Assets: </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Money market funds </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Cash and cash equivalents </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>300,020 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>300,020 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> — </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> — </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Total assets </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>300,020 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>300,020 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">  — </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">  — </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>   The carrying amounts of accounts payable and accrued expenses approximate their fair values due to their short-term maturities.   In September 2014, the Company issued $201.3 million aggregate principal amount of 3.00% convertible senior notes due October 1, 2021, or the Convertible Notes.  Interest is payable semi-annually in arrears on April 1 and October 1 of each year, beginning on April 1, 2015.  As of March 31, 2016, the carrying value of the Convertible Notes, net of unamortized discount and debt issuance costs, was $123.8 million and the estimated fair value of the principal amount was $309.2 million.  The Convertible Notes are discussed in more detail in Note 5, “Convertible Notes.”   Revenue Recognition   Product Revenue   Revenues from product sales are recognized when persuasive evidence of an arrangement exists, delivery has occurred and title to the product and associated risk of loss has passed to the customer, the price is fixed or determinable, collection from the customer has been reasonably assured, all performance obligations have been met and returns and allowances can be reasonably estimated.  Product revenues are recorded net of estimated rebates, chargebacks, discounts, co-pay assistance and other deductions as well as estimated product returns.  <a name="_cp_text_1_168"></a>Allowances are recorded as a reduction of revenue at the time product revenues are recognized.   VARUBI is currently distributed in the U.S. principally through a limited number of specialty distributors and to a lesser extent though the specialty pharmacy channel, or collectively, Customers.  Customers subsequently resell VARUBI to health care providers and payers.    In addition to distribution agreements with Customers, the Company has entered into arrangements with many health care providers and payers that provide for government-mandated and/or privately-negotiated rebates, chargebacks and discounts with respect to the purchase of VARUBI.    Due to the recent launch of VARUBI, with the exception of actual payer data provided by the specialty pharmacy channel, the Company has determined that it does not yet have sufficient actual historical data regarding the ultimate third-party payer mix and resulting rebates related to shipments of VARUBI to its Customers.  In addition, the Company has further determined that it does not currently have the necessary volume of activity to provide sufficient visibility into the distribution channel and the ultimate utilization of the product, which inhibits the Company’s ability to determine a reasonable estimate of potential returns.  As a result of the above, at March 31, 2016, the Company has determined that it is not yet able to reliably make all of the estimates necessary to meet certain of the key recognition criteria in order to recognize net product revenues with respect to shipments of VARUBI to specialty distributor Customers.  Accordingly, the Company concluded that revenue related to shipments to specialty distributors, for which the Company has received payment, should be deferred.   With respect to shipments into the specialty pharmacy channel, for which the Company receives payer data once the specialty pharmacy ships VARUBI to providers and other third parties, the Company has determined that revenue from sales to the specialty pharmacy will be recognized once such shipments to providers and other third parties occur.  For such specialty pharmacy sales, allowances for government and non-government rebates and discounts are established based on the actual payer information, which is known at the time of shipment to patients or providers, as well as the related contracted discount rates applicable to each.  In certain cases an estimate of utilization of the rebate by the patient within each payer group is needed and is estimated based on market research data.  During the three months ended March 31, 2016, the Company recognized $0.2 million in net product revenues related to VARUBI sales through the specialty pharmacy channel.  No net product revenue was recorded for the three months ended March 31, 2015.     Payments received from Customers in advance of recognition of revenue are recorded as deferred revenue by the Company, net of payments made to Customers, providers and payers.   License Revenue   The Company may enter into arrangements under which it licenses certain rights to its product candidates to third parties.  Activities under licensing agreements are evaluated to determine if they represent a multiple element arrangement.  The Company identifies the deliverables included within the agreement and evaluates which deliverables represent separate units of accounting.  The Company accounts for those components as separate units of accounting if the following two criteria are met:   <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"></td><td valign="top" align="left" style="width: 17.00pt; display: inline;"> · </td><td style="width:1pt;"></td><td align="left" valign="top"> the delivered item or items have stand-alone value to the customer; and</td></tr></table></div>   <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"></td><td valign="top" align="left" style="width: 17.00pt; display: inline;"> · </td><td style="width:1pt;"></td><td align="left" valign="top"> delivery or performance of the undelivered item(s) is considered probable and substantially in the control of the Company, and the arrangement includes a general right of return relative to the delivered item(s).</td></tr></table></div>   Factors considered in this determination include, among other things, whether any other vendors sell the items separately and if the licensee could use the delivered item for its intended purpose without the receipt of the remaining deliverables.  When multiple deliverables are combined and accounted for as a single unit of accounting, the Company bases its revenue recognition on the last element to be delivered using the straight-line or proportional performance method depending on the Company’s ability to estimate the performance obligation.  Amounts received or recorded as receivable prior to satisfying the associated revenue recognition criteria are recorded as deferred revenue in the condensed consolidated balance sheets.  Amounts not expected to be recognized within one year following the balance sheet date are classified as non-current deferred revenue.   If a future milestone payment under a license agreement is contingent upon the achievement of a substantive milestone, license revenue is recognized in its entirety in the period in which the milestone is achieved.  A milestone is substantive if:   <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"></td><td valign="top" align="left" style="width: 17.00pt; display: inline;"> · </td><td style="width:1pt;"></td><td align="left" valign="top"> it can only be achieved based in whole or in part on either the Company’s performance or the occurrence of a specific outcome resulting from the Company’s performance;</td></tr></table></div>   <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"></td><td valign="top" align="left" style="width: 17.00pt; display: inline;"> · </td><td style="width:1pt;"></td><td align="left" valign="top"> there is substantive uncertainty at the date an arrangement is entered into that the event will be achieved; and</td></tr></table></div>   <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"></td><td valign="top" align="left" style="width: 17.00pt; display: inline;"> · </td><td style="width:1pt;"></td><td align="left" valign="top"> it would result in additional payments being due to the Company.  </td></tr></table></div>   The commercial milestone and royalty payments received under license agreements, if any, will be recognized as license revenue when they are earned.   In July 2014, the Company entered into a license agreement with Jiangsu Hengrui Medicine Co., Ltd., or Hengrui, pursuant to which Hengrui has licensed rights to develop, manufacture and commercialize rolapitant in China, including Hong Kong and Macao.  For this arrangement, the Company has determined that there is only one unit of accounting that includes the licensed patents and the licensed know-how, which will be delivered over a period of time.  The Company recorded $0.1 million of license revenue related to a $1.0 million up-front payment under this arrangement during the three months ended March 31, 2016, and recorded $0.7 million as deferred revenue as of March 31, 2016.  This $1.0 million payment is being recognized as license revenue over the two-year period of performance relating to the Company’s obligations to provide the licensed know-how to Hengrui.  Under the terms of the agreement, the Company would be entitled to additional payments of up to $2.0 million contingent on the achievement of certain regulatory milestones, as well as royalties on product sales at percentage rates in the low teens.   In April 2016, the Company entered into a collaboration and license agreement with Janssen Biotech, Inc., or Janssen, under which the Company granted Janssen licenses under certain patent rights and know-how relating to niraparib, for prostate cancer worldwide.  See Note 12, “Subsequent Events,” for further discussion.       Research and Development Expenses   Research and development costs are charged to expense as incurred and include:   <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"></td><td valign="top" align="left" style="width: 17.00pt; display: inline;"> · </td><td style="width:1pt;"></td><td align="left" valign="top"> pre-commercial license fees and milestone payments related to the acquisition of in-licensed product candidates, which are reported on the statements of operations as acquired in-process research and development;</td></tr></table></div>   <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"></td><td valign="top" align="left" style="width: 17.00pt; display: inline;"> · </td><td style="width:1pt;"></td><td align="left" valign="top"> employee-related expenses, including salaries, bonuses, benefits, travel and stock-based compensation expense;</td></tr></table></div>   <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"></td><td valign="top" align="left" style="width: 17.00pt; display: inline;"> · </td><td style="width:1pt;"></td><td align="left" valign="top"> fees and expenses incurred under agreements with contract research organizations, investigative sites, research consortia and other entities in connection with the conduct of clinical trials and preclinical studies and related services, such as data management, laboratory and biostatistics services;</td></tr></table></div>   <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"></td><td valign="top" align="left" style="width: 17.00pt; display: inline;"> · </td><td style="width:1pt;"></td><td align="left" valign="top"> the cost of acquiring, developing and manufacturing active pharmaceutical ingredients for product candidates that have not received regulatory approval, clinical trial materials and other research and development materials;</td></tr></table></div>   <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"></td><td valign="top" align="left" style="width: 17.00pt; display: inline;"> · </td><td style="width:1pt;"></td><td align="left" valign="top"> fees and costs related to regulatory filings and activities;</td></tr></table></div>   <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"></td><td valign="top" align="left" style="width: 17.00pt; display: inline;"> · </td><td style="width:1pt;"></td><td align="left" valign="top"> facilities, depreciation and other expenses, which include direct and allocated expenses for rent, utilities, maintenance of facilities, insurance and other supplies; and</td></tr></table></div>   <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"></td><td valign="top" align="left" style="width: 17.00pt; display: inline;"> · </td><td style="width:1pt;"></td><td align="left" valign="top"> other costs associated with clinical and preclinical activities.</td></tr></table></div>   Costs for certain development activities, such as clinical trials and manufacturing development activities, are recognized based on an evaluation of the progress to completion of specific tasks using data such as patient enrollment, clinical site activations, or information provided to the Company by its vendors on their actual costs incurred or level of effort expended.  Payments for these activities are based on the terms of the individual arrangements, which may differ from the pattern of costs incurred, and are reflected in the condensed consolidated balance sheets as prepaid or accrued research and development expenses.  Certain clinical development costs incurred by the Company with respect to its niraparib program are reimbursed as part of a collaborative research agreement with Merck.  Cost-sharing amounts received by the Company are recorded as a reduction to research and development expenses.   Acquired In-Process Research and Development Expense   The Company has acquired the rights to develop and commercialize new product candidates.  Up-front payments that relate to the acquisition of a new drug compound, as well as pre-commercial milestone payments, are immediately expensed as acquired in-process research and development in the period in which they are incurred, provided that the new drug compound did not also include processes or activities that would constitute a “business” as defined under GAAP, the drug has not achieved regulatory approval for marketing and, absent obtaining such approval, has no alternative future use.  Milestone payments made to third parties subsequent to regulatory approval are capitalized as intangible assets and amortized over the estimated remaining useful life of the related product.  Royalties owed on sales of the products licensed pursuant to the agreements are expensed in the period the related revenues are recognized.   Intangible Assets   We maintain definite-lived intangible assets related to certain capitalized milestones.  These assets are amortized on a straight-line basis over their remaining useful lives, which are estimated to be the remaining patent life.  If our estimate of the product’s useful life is shorter than the remaining patent life, then the shorter period is used.  Amortization expense is recorded as a component of cost of sales in the consolidated statements of operations.   We assess our intangible assets for impairment if indicators are present or changes in circumstance suggest that impairment may exist.  Events that could result in an impairment, or trigger an interim impairment assessment, include the receipt of additional clinical or nonclinical data regarding our drug candidate or a potentially competitive drug candidate, changes in the clinical development program for a drug candidate or new information regarding potential sales for the drug.  In connection with each impairment assessment, we compare the fair value of the asset as of the date of the assessment with the carrying value of the asset on our consolidated balance sheet.   Stock-Based Compensation Expense   Stock-based compensation is recognized as expense for each stock-based award based on its estimated fair value.  The Company determines the fair value of each stock option award at its grant date using the Black-Scholes option pricing model.  The Company determines the fair value of each restricted stock unit at its grant date based on the closing market price of the Company’s common stock on that date.  The value of the award that is ultimately expected to vest is recognized as expense on a straight-line basis over the requisite service period.  The cumulative effect of any changes to the estimated forfeiture rates are accounted for as an adjustment to expense in the period of the change.   Inventory   Inventories are stated at the lower of cost or estimated net realizable value, on a first-in, first-out, or FIFO, basis.      Prior to the regulatory approval of its product candidates, the Company incurs expenses for the manufacture of drug product that could potentially be available to support the commercial launch of its products.  Until the first reporting period when regulatory approval has been received or is otherwise considered probable, the Company records all such costs as research and development expense.  The Company periodically analyzes its inventory levels, and writes down inventory that has become obsolete, inventory that has a cost basis in excess of its estimated realizable value and inventory in excess of expected sales requirements as cost of product sales.  The determination of whether inventory costs will be realizable requires estimates by management.  If actual market conditions are less favorable than projected by management, additional write-downs of inventory may be required which would be recorded as a cost of product sales in the consolidated statements of operations.   New Accounting Pronouncements - Recently Adopted    In June 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, No. 2014-12.  The amendments in this ASU apply to reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target can be achieved after a requisite service period.  The amendments require an entity to treat a performance target that affects vesting, and that could be achieved after the requisite service period, as a performance condition.  A reporting entity should apply existing guidance in ASC Topic 718 relating to awards with performance conditions that affect vesting to account for such awards.  The performance target should not be reflected in estimating the grant-date fair value of the award.  Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered.  The amendments in this ASU are effective for annual reporting periods and interim periods within those annual reporting periods beginning after December 15, 2015, and early adoption is permitted.  The Company adopted this ASU on January 1, 2016, and the adoption of this guidance did not have an impact on the Company’s consolidated financial statements.   In April 2015, the FASB issued ASU No. 2015-05, which provides guidance to customers about whether a cloud computing arrangement includes a software license.  If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses.  If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract.  The guidance will not change GAAP for a customer’s accounting for service contracts.  ASU 2015-05 is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015.  Early adoption is permitted.  An entity can elect to adopt the amendments either (1) prospectively to all arrangements entered into or materially modified after the effective date, or (2) retrospectively.  For prospective transition, the only disclosure requirements at transition are the nature of and reason for the change in accounting principle, the transition method, and a qualitative description of the financial statement line items affected by the change.  For retrospective transition, the disclosure requirements at transition include the requirements for prospective transition and quantitative information about the effects of the accounting change.  The Company adopted this ASU prospectively on January 1, 2016 and the adoption of this guidance did not have a material impact on the Company’s consolidated financial statements.   New Accounting Pronouncements - Recently Issued   In May 2014, the FASB issued ASU No. 2014-09, which amends the guidance for accounting for revenue from contracts with customers.  This ASU supersedes the revenue recognition requirements in Accounting Standards Codification, or ASC, Topic 605, Revenue Recognition, and creates a new Topic 606, Revenue from Contracts with Customers.  Two adoption methods are permitted: retrospectively to all prior reporting periods presented, with certain practical expedients permitted; or retrospectively with the cumulative effect of initially adopting the ASU recognized at the date of initial application.  In August 2015, the FASB issued ASU No. 2015-14, which defers the effective date by one year to December 15, 2017 for annual reporting periods beginning after that date, including interim periods within those periods.  The FASB also approved permitting early adoption of the standard, but not before the original effective date of December 15, 2016.  In March 2016, the FASB issued ASU No. 2016-08, which clarifies the implementation guidance on principal versus agent considerations.  The Company is currently in the process of evaluating which adoption method it will utilize and the impact that the adoption of this guidance will have on its potential future revenue streams and consolidated financial statements.    In August 2014, the FASB issued ASU No. 2014-15, which is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures.  Substantial doubt about an entity’s ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued (or are available to be issued).  ASU No. 2014-15 provides guidance to an organization’s management, with principles and definitions intended to reduce diversity in the timing and content of disclosures commonly provided by organizations in the footnotes of their financial statements.  ASU No. 2014-15 is effective for annual reporting periods ending after December 15, 2016, and for annual and interim periods thereafter.  Early adoption is permitted.  We have not yet adopted this standard; however, if this standard had been adopted as of March 31, 2016, the Company believes that it would have concluded there was not substantial doubt about its ability to continue as a going concern.     In July 2015, the FASB issued ASU No. 2015-11, which amends existing guidance for measurement of inventory.  Current inventory guidance requires an entity to measure inventory at the lower of cost or market.  Market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin.  The amendments do not apply to inventory that is measured using last-in, first-out (LIFO) or the retail inventory method.  The amendments apply to all other inventory, which includes inventory that is measured using first-in, first-out or average cost.  An entity should measure all inventory to which the amendments apply at the lower of cost and net realizable value.  Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation.  Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method.  The amendments in this ASU more closely align the measurement of inventory in GAAP with the measurement of inventory in International Financial Reporting Standards.  The amendments are effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017.  The amendments should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. The Company is currently in the process of evaluating the impact that the adoption of this guidance will have on its consolidated financial statements and related disclosures.   In February 2016, the FASB issued ASU No. 2016-02, a comprehensive new lease accounting standard, which provides revised guidance on accounting for lease arrangements by both lessors and lessees and requires lessees to recognize a lease liability and a right-of-use asset for most leases.  The new guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early adoption permitted.  The new standard must be applied using a modified retrospective transition approach which requires application of the new guidance for all periods presented.  The Company is currently in the process of evaluating the impact that the adoption of this guidance will have on its consolidated financial statements and related disclosures.   In March 2016, the FASB issued ASU No. 2016-09, which simplifies various aspects of accounting for share-based payments to employees.  Key provisions of the new standard include requiring excess tax benefits and shortfalls to be recorded as income tax benefit or expense in the income statement, rather than in equity, and permitting an election to record the impact of pre-vesting forfeitures as they occur.  The new guidance is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years, with early adoption permitted.  The Company is currently in the process of evaluating the impact that the adoption of this guidance will have on its consolidated financial statements.   </div><div style="margin-left:0%;margin-right:0%;"> </div><div style="margin-left:0%;margin-right:0%;"></div> </div>

256861000

399146000

230146000

314460000

224885000

300020000

0.0001

100000000

40279783

44714130

40279783

44714130

4000

-48506000

-90866000

309200000

121325000

123797000

76000

464000

35.13

28.4627

P30D

P10D

1.30

201300000

0.0300

700000

500000

3362000

288000

163000

<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;"> 6.  Stock-Based Compensation   The Company maintains several equity compensation plans, including the TESARO, Inc. 2012 Omnibus Incentive Plan, or the 2012 Incentive Plan, the TESARO, Inc. 2010 Stock Incentive Plan, or the 2010 Incentive Plan, the TESARO, Inc. 2015 Non-Employee Director Stock Incentive Plan, or the 2015 Director Plan, and the TESARO, Inc. 2012 Employee Stock Purchase Plan, or the 2012 ESPP.   On April 27, 2012, the stockholders of the Company approved the 2012 Incentive Plan, which had been previously adopted by the board of directors.  Upon effectiveness of the 2012 Incentive Plan, the Company ceased making awards under the 2010 Incentive Plan.  The 2012 Incentive Plan initially allowed the Company to grant awards for up to 1,428,571 shares of common stock plus the number of shares of common stock available for grant under the 2010 Incentive Plan as of the effectiveness of the 2012 Incentive Plan (an additional 6,857 shares) plus the number of shares of common stock related to awards outstanding under the 2010 Incentive Plan that terminate by expiration, forfeiture, cancellation, cash settlement or otherwise.  In addition, each year starting in 2014, the number of shares available for grants of awards under the 2012 Incentive Plan is increased automatically on January 1 by a number of shares of common stock equal to the lesser of 4% of the shares of common stock outstanding at such time or the number of shares determined by the Company’s board of directors.  Most recently, on January 1, 2015 and 2016, the number of shares authorized for issuance under the 2012 Incentive Plan was increased by 1,444,403 shares and 1,611,191 shares, respectively.  On May 14, 2015, the stockholders of the Company approved an increase of 2,000,000 shares of common stock available for grant under the 2012 Incentive Plan. Awards under the 2012 Incentive Plan may include the following award types: stock options, which may be either incentive stock options or nonqualified stock options; stock appreciation rights; restricted stock; restricted stock units; dividend equivalent rights; performance shares; performance units; cash-based awards; other stock-based awards, including unrestricted shares; or any combination of the foregoing.  The exercise price of stock options granted under the 2012 Incentive Plan is equal to the closing price of a share of the Company’s common stock on the grant date.   On May 14, 2015, the stockholders of the Company approved the 2015 Director Plan, which had been previously adopted by the board of directors in order to have a plan in addition to the 2012 Incentive Plan for purposes of granting awards to non-employee directors.  The 2015 Director Plan allows the Company to grant awards for up to 500,000 shares of common stock.  Awards under the 2015 Director Plan may include the following award types: stock options; stock appreciation rights; restricted stock; restricted stock units; unrestricted stock; or any combination of the foregoing.  The exercise price of stock options granted under the 2015 Director Plan is equal to the closing price of a share of the Company’s common stock on the grant date.   Stock-based compensation expense as reflected in the Company’s condensed consolidated statements of operations and comprehensive loss was as follows (in thousands):   <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.02%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:72.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:72.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="5" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Three Months Ended March 31, </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:72.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> 2015 </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> 2016 </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> </tr> <tr> <td valign="bottom" style="width:72.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Research and development </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,814 </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,666 </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:72.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Selling, general and administrative </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,106 </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,592 </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:72.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Total stock-based compensation expense </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,920 </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,258 </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>   Stock Options   The following table presents a summary of the Company’s stock option activity and related information:   <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Weighted-average </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> exercise price per </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Shares </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> share </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Outstanding at December 31, 2015 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,878,352 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35.00 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Granted </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,298,421 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>43.22 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Exercised </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(29,689) </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>24.56 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Cancelled </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(79,531) </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>49.95 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Outstanding at March 31, 2016 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,067,553 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36.39 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Vested at March 31, 2016 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,646,197 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18.39 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Vested and expected to vest at March 31, 2016 (a) </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,527,560 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35.44 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> </table></div>   <div><hr style="border-width:0;width:25%;height:1pt;color:#000;background-color:#000;" align="left"></hr></div> <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"></td><td valign="top" align="left" style="width: 18.00pt; display: inline;"> (a) </td><td style="width:0pt;"></td><td align="left" valign="top"> This represents the number of vested options as of March 31, 2016, plus the number of unvested options expected to vest as of March 31, 2016, based on the unvested options at March 31, 2016, adjusted for the estimated forfeiture rate.</td></tr></table></div>   At March 31, 2016, there was approximately $97.4 million of total unrecognized compensation cost related to unvested stock options, which the Company expects to recognize over a remaining weighted-average period of  3.1 years.   Restricted Stock Units   The following table presents a summary of the Company’s restricted stock unit, or RSU, activity and related information:   <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:74.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:07.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:12.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:00.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:74.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td valign="bottom" style="width:07.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Weighted-average </td> <td valign="bottom" style="width:00.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:74.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:07.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> grant date fair </td> <td valign="bottom" style="width:00.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:74.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:07.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Shares </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> value per share </td> <td valign="bottom" style="width:00.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:74.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Unvested restricted stock units at December 31, 2015 </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:07.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>60,000 </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>56.00 </td> <td valign="bottom" style="width:00.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:74.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Granted </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:07.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>480,995 </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:12.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>43.31 </td> <td valign="bottom" style="width:00.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:74.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Vested </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:07.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">  — </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:12.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">  — </td> <td valign="bottom" style="width:00.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:74.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Forfeited </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:07.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3,700) </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:12.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>43.39 </td> <td valign="bottom" style="width:00.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:74.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Unvested restricted stock units at March 31, 2016 </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:07.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>537,295 </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44.72 </td> <td valign="bottom" style="width:00.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>   At March 31, 2016, there was approximately $19.4 million of unrecognized compensation cost related to RSUs, which the Company expects to recognize over a remaining weighted-average period of 3.8 years.    ESPP   Under the Company’s 2012 ESPP, an aggregate of 275,000 shares of common stock have been reserved for issuance pursuant to purchase rights granted to the Company’s employees or to employees of the Company’s designated subsidiaries.  As of March 31, 2016, 236,723 shares remained available for issuance.  During the three months ended March 31, 2015 and 2016, the Company did not issue any shares under the 2012 ESPP, and recognized approximately $0.1 million and $0.3 million in related stock-based compensation expense, respectively. </div><div style="margin-left:0%;margin-right:0%;"> </div><div style="margin-left:0%;margin-right:0%;"></div> </div>

-1.30

-2.22

97400000

P3Y1M6D

P3Y9M18D

19400000

<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;"> The following table presents information about the Company’s financial assets and liabilities that have been measured at fair value as of December 31, 2015 and March 31, 2016 and indicates the fair value hierarchy of the valuation inputs utilized to determine such fair value (in thousands):   <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="11" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> December 31, 2015 </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Description </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Balance Sheet Classification </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Total </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Level 1 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Level 2 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Level 3 </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Assets: </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Money market funds </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Cash and cash equivalents </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>224,885 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>224,885 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">  — </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">  — </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Total assets </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>224,885 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>224,885 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">  — </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">  — </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>     <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="11" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> March 31, 2016 </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Description </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Balance Sheet Classification </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Total </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Level 1 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Level 2 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Level 3 </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Assets: </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Money market funds </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Cash and cash equivalents </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>300,020 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>300,020 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> — </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> — </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Total assets </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>300,020 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>300,020 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">  — </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">  — </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>   </div><div style="margin-left:0%;margin-right:0%;"> </div><div style="margin-left:0%;margin-right:0%;"></div> </div>

<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;"> Fair Value of Financial Instruments   The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values.  The fair value hierarchy prioritizes valuation inputs based on the observable nature of those inputs.  The fair value hierarchy applies only to the valuation inputs used in determining the reported fair value of the investments and is not a measure of investment credit quality.  The hierarchy defines three levels of valuation inputs:   Level 1 inputsQuoted prices in active markets for identical assets or liabilities   Level 2 inputsObservable inputs other than Level 1 inputs, including quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active   Level 3 inputsUnobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability   The following table presents information about the Company’s financial assets and liabilities that have been measured at fair value as of December 31, 2015 and March 31, 2016 and indicates the fair value hierarchy of the valuation inputs utilized to determine such fair value (in thousands):   <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="11" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> December 31, 2015 </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Description </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Balance Sheet Classification </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Total </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Level 1 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Level 2 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Level 3 </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Assets: </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Money market funds </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Cash and cash equivalents </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>224,885 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>224,885 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">  — </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">  — </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Total assets </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>224,885 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>224,885 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">  — </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">  — </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>     <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="11" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> March 31, 2016 </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Description </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Balance Sheet Classification </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Total </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Level 1 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Level 2 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Level 3 </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Assets: </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Money market funds </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Cash and cash equivalents </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>300,020 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>300,020 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> — </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> — </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:39.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Total assets </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:17.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:07.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>300,020 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>300,020 </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">  — </td> <td valign="bottom" style="width:02.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:06.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">  — </td> <td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>   The carrying amounts of accounts payable and accrued expenses approximate their fair values due to their short-term maturities.   In September 2014, the Company issued $201.3 million aggregate principal amount of 3.00% convertible senior notes due October 1, 2021, or the Convertible Notes.  Interest is payable semi-annually in arrears on April 1 and October 1 of each year, beginning on April 1, 2015.  As of March 31, 2016, the carrying value of the Convertible Notes, net of unamortized discount and debt issuance costs, was $123.8 million and the estimated fair value of the principal amount was $309.2 million.  The Convertible Notes are discussed in more detail in Note 5, “Convertible Notes.” </div><div style="margin-left:0%;margin-right:0%;"> </div><div style="margin-left:0%;margin-right:0%;"></div> </div>

268000

732000

5500000

1400000

1900000

15000000

14732000

14268000

P8Y

11242000

30023000

-464000

4293000

377000

1277000

3725000

2737000

4886000

1526000

1478000

352000

282000

14732000

14268000

3726000

3981000

1526000

1509000

<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">   4. Inventories   The following table presents inventories as of December 31, 2015 and March 31, 2016 (in thousands):   <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:75.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:75.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> December 31, </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> March 31, </td> </tr> <tr> <td valign="bottom" style="width:75.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> 2015 </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> 2016 </td> </tr> <tr> <td valign="bottom" style="width:75.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Raw materials </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>364 </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,239 </td> </tr> <tr> <td valign="bottom" style="width:75.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Work in process </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>83 </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>143 </td> </tr> <tr> <td valign="bottom" style="width:75.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Finished goods </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>659 </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>610 </td> </tr> <tr> <td valign="bottom" style="width:75.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Total inventories </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,106 </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,992 </td> </tr> </table></div>   </div><div style="margin-left:0%;margin-right:0%;"> </div><div style="margin-left:0%;margin-right:0%;"></div> </div>

659000

610000

1106000

5992000

364000

5239000

83000

143000

7000

102000

168407000

183013000

255281000

343977000

46681000

58872000

134000

123800000

142285000

84314000

182757000

156310000

-172000

-4380000

-40300000

-67616000

-48506000

-90767000

44787000

87195000

-44787000

-86888000

1800000

1200000

4560000

4208000

779000

803000

-99000

1534000

3043000

113000

181000

172000

380000

0.0001

10000000

201300000

155000000

50000000

2807000

1338000

2779000

2690000

4000000

33545000

52632000

800000

500000

-601918000

-692685000

307000

50000000

4404658

1130198

44.24

173000

<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;"> Stock-based compensation expense as reflected in the Company’s condensed consolidated statements of operations and comprehensive loss was as follows (in thousands):   <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.02%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:72.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:72.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="5" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Three Months Ended March 31, </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:72.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> 2015 </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> 2016 </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> </tr> <tr> <td valign="bottom" style="width:72.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Research and development </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,814 </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,666 </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:72.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Selling, general and administrative </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,106 </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,592 </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:72.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Total stock-based compensation expense </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,920 </td> <td valign="bottom" style="width:02.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,258 </td> <td valign="bottom" style="width:01.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>   </div><div style="margin-left:0%;margin-right:0%;"> </div><div style="margin-left:0%;margin-right:0%;"></div> </div>

<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;"> The following table presents intangible assets as of December 31, 2015 and March 31, 2016 (in thousands):   <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:43.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:09.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.74%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:09.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.74%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:09.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:02.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:43.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:09.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.74%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:09.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> December 31, </td> <td valign="bottom" style="width:02.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.74%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:09.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> March 31, </td> <td valign="bottom" style="width:02.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:43.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:09.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> 2015 </td> <td valign="bottom" style="width:02.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> 2016 </td> <td valign="bottom" style="width:02.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Estimated useful life </td> </tr> <tr> <td valign="bottom" style="width:43.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Intangible asset - OPKO milestone </td> <td valign="bottom" style="width:09.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.74%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,000 </td> <td valign="bottom" style="width:02.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.74%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,000 </td> <td valign="bottom" style="width:02.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8 </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Years </td> </tr> <tr> <td valign="bottom" style="width:43.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Less accumulated amortization </td> <td valign="bottom" style="width:09.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.74%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:09.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(268) </td> <td valign="bottom" style="width:02.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.74%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:09.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(732) </td> <td valign="bottom" style="width:02.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:43.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Total intangible asset, net </td> <td valign="bottom" style="width:09.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.74%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,732 </td> <td valign="bottom" style="width:02.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.74%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:09.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,268 </td> <td valign="bottom" style="width:02.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>   </div><div style="margin-left:0%;margin-right:0%;"> </div><div style="margin-left:0%;margin-right:0%;"></div> </div>

<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;"> <div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">      </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Weighted-average </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> exercise price per </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> Shares </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"> share </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Outstanding at December 31, 2015 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,878,352 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35.00 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Granted </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,298,421 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>43.22 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Exercised </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(29,689) </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>24.56 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Cancelled </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(79,531) </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>49.95 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Outstanding at March 31, 2016 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,067,553 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36.39 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> Vested at March 31, 2016 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,646,197 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18.39 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:69.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Vested and expected to vest at March 31, 2016 (a) </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,527,560 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> $ </td> <td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35.44 </td> <td valign="bottom" style="width:01.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> </table></div>   <div><hr style="border-width:0;width:25%;height:1pt;color:#000;background-color:#000;" align="left"></hr></div> <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"></td><td valign="top" align="left" style="width: 18.00pt; display: inline;"> (a) </td><td style="width:0pt;"></td><td align="left" valign="top"> This represents the number of vested options as of March 31, 2016, plus the number of unvested options expected to vest as of March 31, 2016, based on the unvested options at March 31, 2016, adjusted for the estimated forfeiture rate.</td></tr></table></div>   </div><div style="margin-left:0%;margin-right:0%;"> </div><div style="margin-left:0%;margin-right:0%;"></div> </div>

3920000

9258000

3700

43.39

480995

43.31

60000

537295

56.00

44.72

1444403

2000000

1611191

1428571

500000

275000

236723

79531

1298421

5878352

7067553

35.00

36.39

6527560

35.44

2646197

24.56

49.95

43.22

51.00

35.19

86874000

160964000

82000

3755000

29689

100000

37312000

40966000

EX-101.SCH 11 tsro-20160331.xsd EX-101.SCH 00100 - Statement - Condensed Consolidated Balance Sheets link:presentationLink link:calculationLink link:definitionLink 00200 - Statement - Condensed Consolidated Statements of Operations and Comprehensive Loss link:presentationLink link:calculationLink link:definitionLink 00400 - Statement - Condensed Consolidated Statements of Cash Flows link:presentationLink link:calculationLink link:definitionLink 40401 - Disclosure - Inventories (Details) link:presentationLink link:calculationLink link:definitionLink 40501 - Disclosure - Convertible Notes (Details) link:presentationLink link:calculationLink link:definitionLink 40901 - Disclosure - Intangible Assets - Intangible Assets (Details) link:presentationLink link:calculationLink link:definitionLink 41001 - Disclosure - Commitments and Contingencies (Details) link:presentationLink link:calculationLink link:definitionLink 00090 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00105 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 10101 - Disclosure - Description of Business link:presentationLink link:calculationLink link:definitionLink 10201 - Disclosure - Basis of Presentation and Significant Accounting Policies link:presentationLink link:calculationLink link:definitionLink 10301 - Disclosure - Net Loss per Share link:presentationLink link:calculationLink link:definitionLink 10401 - Disclosure - Inventories link:presentationLink link:calculationLink link:definitionLink 10501 - Disclosure - Convertible Notes link:presentationLink link:calculationLink link:definitionLink 10601 - Disclosure - Stock-Based Compensation link:presentationLink link:calculationLink link:definitionLink 10701 - Disclosure - Common Stock Transactions link:presentationLink link:calculationLink link:definitionLink 10801 - Disclosure - Income Taxes link:presentationLink link:calculationLink link:definitionLink 10901 - Disclosure - Intangible Assets link:presentationLink link:calculationLink link:definitionLink 11001 - Disclosure - Commitments and Contingencies link:presentationLink link:calculationLink link:definitionLink 11101 - Disclosure - Collaboration Arrangements link:presentationLink link:calculationLink link:definitionLink 11201 - Disclosure - Subsequent Event link:presentationLink link:calculationLink link:definitionLink 20202 - Disclosure - Basis of Presentation and Significant Accounting Policies (Policies) link:presentationLink link:calculationLink link:definitionLink 30203 - Disclosure - Basis of Presentation and Significant Accounting Policies (Tables) link:presentationLink link:calculationLink link:definitionLink 30303 - Disclosure - Net Loss per Share (Tables) link:presentationLink link:calculationLink link:definitionLink 30403 - Disclosure - Inventories (Tables) link:presentationLink link:calculationLink link:definitionLink 30503 - Disclosure - Convertible Notes (Tables) link:presentationLink link:calculationLink link:definitionLink 30603 - Disclosure - Stock-Based Compensation (Tables) link:presentationLink link:calculationLink link:definitionLink 30903 - Disclosure - Intangible Asset (Tables) link:presentationLink link:calculationLink link:definitionLink 40101 - Disclosure - Description of Business (Details) link:presentationLink link:calculationLink link:definitionLink 40201 - Disclosure - Basis of Presentation and Significant Accounting Policies - Segment Information (Details) link:presentationLink link:calculationLink link:definitionLink 40202 - Disclosure - Basis of Presentation and Significant Accounting Policies - Financial Instruments and Convertible Senior Notes (Details) link:presentationLink link:calculationLink link:definitionLink 40203 - Disclosure - Basis of Presentation and Significant Accounting Policies - License Revenue and New Accounting Pronouncements (Details) link:presentationLink link:calculationLink link:definitionLink 40301 - Disclosure - Net Loss Per Share (Details) link:presentationLink link:calculationLink link:definitionLink 40601 - Disclosure - Stock-Based Compensation - Stock Compensation Plans (Details) link:presentationLink link:calculationLink link:definitionLink 40602 - Disclosure - Stock-Based Compensation - Stock-Based Compensation Expense (Details) link:presentationLink link:calculationLink link:definitionLink 40603 - Disclosure - Stock-Based Compensation - Stock Options (Details) link:presentationLink link:calculationLink link:definitionLink 40604 - Disclosure - Stock-Based Compensation - Restricted Stock Units (Details) link:presentationLink link:calculationLink link:definitionLink 40605 - Disclosure - Stock-Based Compensation - Employee Stock Purchase Plan (Details) link:presentationLink link:calculationLink link:definitionLink 40701 - Disclosure - Common Stock Transactions (Details) link:presentationLink link:calculationLink link:definitionLink 40801 - Disclosure - Income Taxes (Details) link:presentationLink link:calculationLink link:definitionLink 41101 - Disclosure - Collaboration Arrangements (Details) link:presentationLink link:calculationLink link:definitionLink 41201 - Disclosure - Subsequent Event (Details) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 12 tsro-20160331_cal.xml EX-101.CAL EX-101.DEF 13 tsro-20160331_def.xml EX-101.DEF EX-101.LAB 14 tsro-20160331_lab.xml EX-101.LAB Document and Entity Information Statement [Table] Statement [Line Items] Description of Business Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Entity Current Reporting Status Entity Filer Category Entity Common Stock, Shares Outstanding Document Fiscal Year Focus Document Fiscal Period Focus Condensed Consolidated Balance Sheets Assets [Abstract] Assets Assets, Current [Abstract] Current assets: Cash and Cash Equivalents, at Carrying Value Cash and cash equivalents at end of period Cash and cash equivalents at beginning of period Cash and cash equivalents Accounts Receivable, Net, Current Accounts receivable Inventory, Net Inventories Total inventories Other Assets, Current Other current assets Assets, Current Total current assets Intangible Assets, Net (Excluding Goodwill) Intangible assets, net Property, Plant and Equipment, Net Property and equipment, net Restricted Cash and Cash Equivalents, Noncurrent Restricted cash Other Assets, Noncurrent Other assets Assets Total assets Liabilities and Equity [Abstract] Liabilities and stockholders' equity Liabilities, Current [Abstract] Current liabilities: Accounts Payable, Current Accounts payable Accrued Liabilities, Current Accrued expenses Deferred Revenue, Current Deferred revenue, current Other Liabilities, Current Other current liabilities Liabilities, Current Total current liabilities Convertible Notes Payable Convertible notes, net Deferred Revenue, Noncurrent Deferred revenue, non-current Other Liabilities, Noncurrent Other non-current liabilities Liabilities Total liabilities Commitments and Contingencies. Commitments and contingencies (Note 10) Stockholders' Equity Attributable to Parent [Abstract] Stockholders' equity: Preferred Stock, Value, Issued Preferred stock, $0.0001 par value; 10,000,000 shares authorized at both December 31, 2015 and March 31, 2016; no shares issued or outstanding at both December 31, 2015 and March 31, 2016 Common Stock, Value, Issued Common stock, $0.0001 par value; 100,000,000 shares authorized at both December 31, 2015 and March 31, 2016; 40,279,783 and 44,714,130 shares issued and outstanding at December 31, 2015 and March 31, 2016, respectively Additional Paid in Capital, Common Stock Additional paid-in capital Accumulated Other Comprehensive Income (Loss), Net of Tax Accumulated other comprehensive loss Retained Earnings (Accumulated Deficit) Accumulated deficit Stockholders' Equity Attributable to Parent Total stockholders' equity Liabilities and Equity Total liabilities and stockholders' equity Preferred Stock, Par or Stated Value Per Share Preferred stock, par value (in dollars per share) Preferred Stock, Shares Authorized Preferred stock, shares authorized Preferred Stock, Shares Issued Preferred stock, shares issued Preferred Stock, Shares Outstanding Preferred stock, shares outstanding Common Stock, Par or Stated Value Per Share Common stock, par value (in dollars per share) Common Stock, Shares Authorized Common stock, shares authorized Common Stock, Shares, Issued Common stock, shares issued Common Stock, Shares, Outstanding Common stock, shares outstanding Condensed Consolidated Statements of Operations and Comprehensive Loss Sales Revenue, Services, Net [Abstract] Revenue License Revenue Sales Revenue, Goods, Net Product revenue, net Licenses Revenue License revenue Revenues Total revenues Operating Expenses [Abstract] Expenses: Cost of Goods Sold Cost of sales - product Cost of Goods Sold, Amortization Cost of sales - intangible asset amortization Research and Development Expense (Excluding Acquired in Process Cost) Research and development Research and development expense General and Administrative Expense Selling, general and administrative Research and Development Asset Acquired Other than Through Business Combination, Written-off Acquired in-process research and development Operating Expenses Total expenses Operating Income (Loss) Loss from operations Interest Expense Interest expense Total interest expense Investment Income, Interest Interest income Net Income (Loss) Available to Common Stockholders, Basic Net loss Net loss Earnings Per Share, Basic and Diluted Net loss per share applicable to common stockholders - basic and diluted (in dollars per share) Weighted Average Number of Shares Outstanding, Basic and Diluted Weighted-average number of common shares used in net loss per share applicable to common stockholders - basic and diluted (in shares) Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] Comprehensive loss: Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Reclassification Adjustments and Tax Unrealized loss on pension obligation Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent Other comprehensive loss Comprehensive Income (Loss), Net of Tax, Attributable to Parent Comprehensive loss Condensed Consolidated Statements of Cash Flows Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract] Operating activities Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] Adjustments to reconcile net loss to net cash used in operating activities: The aggregate expense recognized in the current period that allocates the cost of tangible assets and intangible assets to periods that benefit from use of the assets. Depreciation and Amortization Expense Depreciation and amortization expense Share-based Compensation Stock-based compensation expense Amortization of Financing Costs and Discounts Non-cash interest expense Increase (Decrease) in Operating Capital [Abstract] Changes in operating assets and liabilities: Increase (Decrease) in Accounts Receivable Accounts receivable Increase (Decrease) in Inventories Inventories Increase (Decrease) in Other Operating Assets Other assets Increase (Decrease) in Accounts Payable Accounts payable Increase (Decrease) in Accrued Liabilities Accrued expenses Increase (Decrease) in Deferred Revenue Deferred revenues Increase (Decrease) in Other Current Liabilities Other liabilities Net Cash Provided by (Used in) Operating Activities, Continuing Operations Net cash used in operating activities Net Cash Provided by (Used in) Investing Activities, Continuing Operations [Abstract] Investing activities Represents the cash outflow for acquisitions of product licenses and milestone payments during the reporting period. Payments to Acquire Product License and Milestone Payments Acquisition of product candidate and technology licenses and milestone payments Payments to Acquire Property, Plant, and Equipment Purchase of property and equipment Net Cash Provided by (Used in) Investing Activities, Continuing Operations Net cash used in investing activities Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract] Financing activities Represents the cash inflow from the sale of common stock (may include Initial Public Offering or Follow On Offering) net of issuance costs. Net proceeds from the sale of common stock in an underwritten public offering Proceeds from sale of common stock, net of issuance costs Net proceeds from the sale of common stock in an underwritten public offering Proceeds from Stock Options Exercised Proceeds from exercise of stock options Net Cash Provided by (Used in) Financing Activities, Continuing Operations Net cash provided by financing activities Net Cash Provided by (Used in) Continuing Operations Increase in cash and cash equivalents Noncash Investing and Financing Items [Abstract] Non-cash investing and financing activities Future cash outflow to pay for issuance cost of initial public offering. Accrued Issuance Costs of Initial Public Offering Common stock issuance costs - cash not paid as of period end Fair value of shares issued Stock option exercise proceeds receivable as of period end Description of Business Nature of Operations [Text Block] Description of Business Basis of Presentation and Significant Accounting Policies Basis of Presentation and Significant Accounting Policies [Text Block] Basis of Presentation and Significant Accounting Policies Net Loss per Share Earnings Per Share [Text Block] Net Loss per Share Inventories Inventory Disclosure [Text Block] Inventories Convertible Notes. Convertible Notes Stock-Based Compensation Disclosure of Compensation Related Costs, Share-based Payments [Text Block] Stock-Based Compensation Common Stock Transactions Stockholders' Equity Note Disclosure [Text Block] Common Stock Transactions Income Taxes Income Tax Disclosure [Text Block] Income Taxes Intangible Assets Intangible Assets Disclosure [Text Block] Intangible Assets Commitments and Contingencies Commitments and Contingencies Disclosure [Text Block] Commitments and Contingencies n/a Collaboration Arrangements Collaborative Arrangement Disclosure [Text Block] Collaboration Arrangements Subsequent Events. Subsequent Event Subsequent Events Basis of Accounting, Policy [Policy Text Block] Basis of Presentation Use of Estimates, Policy [Policy Text Block] Use of Estimates Cash and Cash Equivalents, Policy [Policy Text Block] Cash and Cash Equivalents Fair Value of Financial Instruments, Policy [Policy Text Block] Fair Value of Financial Instruments Revenue Recognition, Policy [Policy Text Block] Revenue Recognition Research and Development Expense, Policy [Policy Text Block] Research and Development Expenses In Process Research and Development, Policy [Policy Text Block] Acquired In-Process Research and Development Expense Intangible Assets, Finite-Lived, Policy [Policy Text Block] Intangible Assets Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] Stock-Based Compensation Expense Inventory, Policy [Policy Text Block] Inventory New Accounting Pronouncements, Policy [Policy Text Block] New Accounting Pronouncements - Recently Adopted Disclosure of accounting policy pertaining to new accounting pronouncements recently issued that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. New Accounting Pronouncements Recently Issued Policy [Policy Text Block] New Accounting Pronouncements - Recently Issued Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] Schedule of company's financial assets and liabilities that have been measured at fair value and indicating the fair value hierarchy of the valuation inputs utilized to determine such fair value: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] Schedule of share amount excluded from the calculation of diluted net loss per share, prior to the use of the treasury stock method, due to their anti-dilutive effect Schedule of Inventory, Current [Table Text Block] Schedule of current inventories Tabular disclosure of convertible note interest expense Schedule of convertible note interest expense Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] Schedule of stock-based compensation expense as reflected in the Company's condensed consolidated statements of operations and comprehensive loss Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] Summary of the Company's stock option activity and related information Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] Summary of the Company's restricted stock unit (RSU) activity and related information Schedule of Finite-Lived Intangible Assets [Table Text Block] Schedule of finite-lived intangible assets Number of Operating Segments Number of operating segments Sale of Stock, Number of Shares Issued in Transaction Number of shares issued in private placement Shares Issued, Price Per Share Common stock issue price, in an underwritten public offering (in dollars per share) Proceeds from issuance of private placement Proceeds from issuance of private placement Number of accredited investors to which the Company closed a private placement of its common stock. Number Of Accredited Investors For Private Placement Sale Of Stock Number of accredited investors Segment Reporting Information [Line Items] Segment Reporting Information Fair Value Measurements, Recurring and Nonrecurring [Table] Cash and Cash Equivalents [Axis] Restricted Cash And Cash Equivalents Cash And Cash Equivalents [Member] Cash and Cash Equivalents [Domain] Money Market Funds [Member] Money Market Funds Fair Value, Hierarchy [Axis] Fair Value Measurements Fair Value Hierarchy [Domain] Fair Value Hierarchy [Domain] Fair Value Inputs Level1 [Member] Fair Value, Inputs, Level 1 Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] Financial Assets and Liabilities Measured At Fair Value Cash and Cash Equivalents, Fair Value Disclosure Cash and cash equivalents Assets, Fair Value Disclosure Total assets Convertible Notes Payable [Abstract] Convertible Senior Notes Proceeds from Convertible Debt Proceeds from issuance of convertible notes Debt Instrument, Interest Rate, Stated Percentage Interest rate (as a percent) Long-term Debt Net carrying amount Convertible Debt, Fair Value Disclosures Fair value of principal amount Schedule of Long-term Debt Instruments [Table] Convertible notes [Line Items] Statement [Line Items] Represents number of criteria for determining classification of components as a separate unit. Number of criteria Number of criteria needed for classification Represents number of unit of account. Number of unit of accounting Represents the upfront payment received by the entity under the terms of license agreement. License Agreement, Up Front Revenue Upfront revenue received Deferred Revenue Deferred revenue Represents the period of recognizing the license revenue, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. License Agreement, Period For Recognition As Revenue Recognition period Represents the maximum additional revenue that may be received by the entity under the terms of license agreement. License Agreement, Additional Revenue, Maximum Maximum additional revenue Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table] Antidilutive Securities [Axis] Antidilutive Securities Name [Domain] Antidilutive Securities, Name [Domain] Employee Stock Option [Member] Outstanding stock options Restricted Stock [Member] Unvested restricted stock units Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] Net Loss per Share Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount Inventory, Current [Table] Inventory [Line Items] Inventories Inventory, Raw Materials and Supplies, Net of Reserves Raw materials Inventory, Work in Process, Net of Reserves Work in process Inventory, Finished Goods, Net of Reserves Finished goods Debt Instrument, Face Amount Notes, issued amount Represents payments for the capped call transactions at the time of the convertible debt offering. Capped call transactions payments Debt Instrument, Convertible, Conversion Price Conversion price per share of convertible notes into common stock Debt Instrument, Convertible, Conversion Ratio Convertible notes conversion ratio per 1,000 principal EX-101.PRE 15 tsro-20160331_pre.xml EX-101.PRE XML 16 R1.htm IDEA: XBRL DOCUMENT

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2016	May. 02, 2016
Document and Entity Information
Entity Registrant Name	TESARO, Inc.
Entity Central Index Key	0001491576
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		45,845,028
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1

XML 17 R2.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 314,460	$ 230,146
Accounts receivable	1,056	679
Inventories	5,992	1,106
Other current assets	4,208	4,560
Total current assets	325,716	236,491
Intangible assets, net	14,268	14,732
Property and equipment, net	2,690	2,779
Restricted cash	500	500
Other assets	803	779
Total assets	343,977	255,281
Current liabilities:
Accounts payable	12,334	8,019
Accrued expenses	40,133	36,628
Deferred revenue, current	3,362	500
Other current liabilities	3,043	1,534
Total current liabilities	58,872	46,681
Convertible notes, net	123,797	121,325
Deferred revenue, non-current	163	288
Other non-current liabilities	181	113
Total liabilities	$ 183,013	$ 168,407
Commitments and contingencies (Note 10)
Stockholders' equity:
Preferred stock, $0.0001 par value; 10,000,000 shares authorized at both December 31, 2015 and March 31, 2016; no shares issued or outstanding at both December 31, 2015 and March 31, 2016
Common stock, $0.0001 par value; 100,000,000 shares authorized at both December 31, 2015 and March 31, 2016; 40,279,783 and 44,714,130 shares issued and outstanding at December 31, 2015 and March 31, 2016, respectively	$ 4	$ 4
Additional paid-in capital	853,744	688,788
Accumulated other comprehensive loss	(99)
Accumulated deficit	(692,685)	(601,918)
Total stockholders' equity	160,964	86,874
Total liabilities and stockholders' equity	$ 343,977	$ 255,281

XML 18 R3.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Condensed Consolidated Balance Sheets
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	44,714,130	40,279,783
Common stock, shares outstanding	44,714,130	40,279,783

XML 19 R4.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue
Product revenue, net	$ 173	$ 0
License revenue	134
Total revenues	307
Expenses:
Cost of sales - product	76
Cost of sales - intangible asset amortization	464
Research and development	52,632	33,545
Selling, general and administrative	30,023	11,242
Acquired in-process research and development	4,000
Total expenses	87,195	44,787
Loss from operations	(86,888)	(44,787)
Interest expense	(3,981)	(3,726)
Interest income	102	7
Net loss	$ (90,767)	$ (48,506)
Net loss per share applicable to common stockholders - basic and diluted (in dollars per share)	$ (2.22)	$ (1.30)
Weighted-average number of common shares used in net loss per share applicable to common stockholders - basic and diluted (in shares)	40,966	37,312
Comprehensive loss:
Net loss	$ (90,767)	$ (48,506)
Unrealized loss on pension obligation	(99)
Other comprehensive loss	(99)
Comprehensive loss	$ (90,866)	$ (48,506)

XML 20 R5.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities
Net loss	$ (90,767)	$ (48,506)
Adjustments to reconcile net loss to net cash used in operating activities:
Acquired in-process research and development	4,000
Depreciation and amortization expense	733	99
Stock-based compensation expense	9,258	3,920
Non-cash interest expense	2,472	2,200
Changes in operating assets and liabilities:
Accounts receivable	(377)
Inventories	(4,886)
Other assets	(282)	(352)
Accounts payable	4,293	(464)
Accrued expenses	3,725	1,277
Deferred revenues	2,737
Other liabilities	1,478	1,526
Net cash used in operating activities	(67,616)	(40,300)
Investing activities
Acquisition of product candidate and technology licenses and milestone payments	(4,000)
Purchase of property and equipment	(380)	(172)
Net cash used in investing activities	(4,380)	(172)
Financing activities
Proceeds from sale of common stock, net of issuance costs	154,972	179,950
Proceeds from exercise of stock options	1,338	2,807
Net cash provided by financing activities	156,310	182,757
Increase in cash and cash equivalents	84,314	142,285
Cash and cash equivalents at beginning of period	230,146	256,861
Cash and cash equivalents at end of period	314,460	399,146
Non-cash investing and financing activities
Common stock issuance costs - cash not paid as of period end		$ 204
Stock option exercise proceeds receivable as of period end	$ 82

XML 21 R6.htm IDEA: XBRL DOCUMENT

Description of Business	3 Months Ended
Description of Business	Mar. 31, 2016
Description of Business
Description of Business	1. Description of Business TESARO, Inc., or the Company or TESARO, was incorporated in Delaware on March 26, 2010 and commenced operations in May 2010. Headquartered in Waltham, Massachusetts, TESARO is an oncology-focused biopharmaceutical company dedicated to improving the lives of cancer patients. TESARO acquires, in-licenses, develops, and commercializes oncology products and product candidates. Since incorporation, primary activities have consisted of acquiring product candidates, advancing development of these product candidates, developing intellectual property, recruiting personnel and raising capital. As part of its business strategy, the Company intends to continue to in-license or acquire additional product candidates across various stages of development. The Company operates in one segment. The Company is subject to a number of risks, including dependence on key individuals, the need to develop commercially viable products, competition from other companies, many of which are larger and better capitalized, and the need to obtain adequate additional financing to fund the development and potential commercialization of its product candidates and further its in-licensing and acquisition activities. On September 1, 2015, the Company’s first commercial product, VARUBI® (rolapitant), was approved by the United States Food and Drug Administration, or FDA, in combination with other antiemetic agents in adults for the prevention of delayed nausea and vomiting associated with initial and repeat courses of emetogenic cancer chemotherapy, including, but not limited to, highly emetogenic chemotherapy. The Company commenced sales of VARUBI during the fourth quarter of 2015. The Company has incurred significant operating losses since inception and has relied on its ability to fund its operations through private and public equity and debt financings. Management expects operating losses and negative operating cash flows to continue for the foreseeable future. As the Company continues to incur losses, transition to profitability is dependent upon the successful development, approval, and commercialization of its products and product candidates and the achievement of a level of revenues adequate to support its cost structure. The Company may never achieve profitability, and unless and until it does, the Company will continue to need to raise additional capital. On March 18, 2016, the Company closed a private placement of its common stock with certain accredited investors, whereby an aggregate of 4,404,658 shares of common stock were issued at a price per share of $35.19 for aggregate gross proceeds of approximately $155.0 million. On April 5, 2016, the Company closed a private placement of its common stock with one accredited investor for gross proceeds of approximately $50.0 million. Management intends to fund future operations in part through the proceeds from these financings and additional public or private equity or debt offerings and may seek additional capital through arrangements with strategic partners or from other sources.

XML 22 R7.htm IDEA: XBRL DOCUMENT

Basis of Presentation and Significant Accounting Policies

3 Months Ended

Mar. 31, 2016

Basis of Presentation and Significant Accounting Policies

Basis of Presentation and Significant Accounting Policies

2. Basis of Presentation and Significant Accounting Policies

Basis of Presentation

Use of Estimates

Cash and Cash Equivalents

Fair Value of Financial Instruments

Level 1 inputsQuoted prices in active markets for identical assets or liabilities

Level 3 inputsUnobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability


		December 31, 2015
Description	Balance Sheet Classification	Total		Level 1		Level 2		Level 3

Assets:
Money market funds	Cash and cash equivalents	$	224,885	$	224,885	$	—	$	—
Total assets		$	224,885	$	224,885	$	—	$	—


		March 31, 2016
Description	Balance Sheet Classification	Total		Level 1		Level 2		Level 3

Assets:
Money market funds	Cash and cash equivalents	$	300,020	$	300,020	$	—	$	—
Total assets		$	300,020	$	300,020	$	—	$	—

The carrying amounts of accounts payable and accrued expenses approximate their fair values due to their short-term maturities.

Revenue Recognition

Product Revenue

Payments received from Customers in advance of recognition of revenue are recorded as deferred revenue by the Company, net of payments made to Customers, providers and payers.

License Revenue

the delivered item or items have stand-alone value to the customer; and

it can only be achieved based in whole or in part on either the Company’s performance or the occurrence of a specific outcome resulting from the Company’s performance;

there is substantive uncertainty at the date an arrangement is entered into that the event will be achieved; and

it would result in additional payments being due to the Company.

The commercial milestone and royalty payments received under license agreements, if any, will be recognized as license revenue when they are earned.

Research and Development Expenses

Research and development costs are charged to expense as incurred and include:

employee-related expenses, including salaries, bonuses, benefits, travel and stock-based compensation expense;

fees and costs related to regulatory filings and activities;

facilities, depreciation and other expenses, which include direct and allocated expenses for rent, utilities, maintenance of facilities, insurance and other supplies; and

other costs associated with clinical and preclinical activities.

Acquired In-Process Research and Development Expense

Intangible Assets

Stock-Based Compensation Expense

Inventory

Inventories are stated at the lower of cost or estimated net realizable value, on a first-in, first-out, or FIFO, basis.

New Accounting Pronouncements - Recently Adopted

In April 2015, the FASB issued ASU No. 2015-05, which provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance will not change GAAP for a customer’s accounting for service contracts. ASU 2015-05 is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. An entity can elect to adopt the amendments either (1) prospectively to all arrangements entered into or materially modified after the effective date, or (2) retrospectively. For prospective transition, the only disclosure requirements at transition are the nature of and reason for the change in accounting principle, the transition method, and a qualitative description of the financial statement line items affected by the change. For retrospective transition, the disclosure requirements at transition include the requirements for prospective transition and quantitative information about the effects of the accounting change. The Company adopted this ASU prospectively on January 1, 2016 and the adoption of this guidance did not have a material impact on the Company’s consolidated financial statements.

New Accounting Pronouncements - Recently Issued

In February 2016, the FASB issued ASU No. 2016-02, a comprehensive new lease accounting standard, which provides revised guidance on accounting for lease arrangements by both lessors and lessees and requires lessees to recognize a lease liability and a right-of-use asset for most leases. The new guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early adoption permitted. The new standard must be applied using a modified retrospective transition approach which requires application of the new guidance for all periods presented. The Company is currently in the process of evaluating the impact that the adoption of this guidance will have on its consolidated financial statements and related disclosures.

XML 23 R8.htm IDEA: XBRL DOCUMENT

Net Loss per Share

3 Months Ended

Mar. 31, 2016

Net Loss per Share

Net Loss per Share

3. Net Loss per Share

The following table presents amounts that were excluded from the calculation of diluted net loss per share, due to their anti-dilutive effect (in thousands):


	Three Months Ended March 31,
	2015	2016
Outstanding stock options	4,791	7,068
Unvested restricted stock units	16	537
Shares issuable upon conversion of Convertible Notes	—	20
	4,807	7,625

XML 24 R9.htm IDEA: XBRL DOCUMENT

Inventories

3 Months Ended

Mar. 31, 2016

Inventories

Inventories

4. Inventories

The following table presents inventories as of December 31, 2015 and March 31, 2016 (in thousands):


		December 31,		March 31,
	2015		2016
Raw materials	$	364	$	5,239
Work in process		83		143
Finished goods		659		610
Total inventories	$	1,106	$	5,992

XML 25 R10.htm IDEA: XBRL DOCUMENT

Convertible Notes

3 Months Ended

Mar. 31, 2016

Convertible Notes.

Convertible Notes

5. Convertible Notes

(1)

(2)

(3)

upon the occurrence of specified corporate events.

The following table sets forth total interest expense recognized related to the Convertible Notes during the three months ended March 31, 2015 and 2016 (in thousands):


	Three Months Ended March 31,
	2015		2016
Contractual interest expense	$	1,526	$	1,509
Amortization of debt discount		2,026		2,315
Amortization of debt issuance costs		174		157
Total interest expense	$	3,726	$	3,981

XML 26 R11.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation

3 Months Ended

Mar. 31, 2016

Stock-Based Compensation

Stock-Based Compensation

6. Stock-Based Compensation

On April 27, 2012, the stockholders of the Company approved the 2012 Incentive Plan, which had been previously adopted by the board of directors. Upon effectiveness of the 2012 Incentive Plan, the Company ceased making awards under the 2010 Incentive Plan. The 2012 Incentive Plan initially allowed the Company to grant awards for up to 1,428,571 shares of common stock plus the number of shares of common stock available for grant under the 2010 Incentive Plan as of the effectiveness of the 2012 Incentive Plan (an additional 6,857 shares) plus the number of shares of common stock related to awards outstanding under the 2010 Incentive Plan that terminate by expiration, forfeiture, cancellation, cash settlement or otherwise. In addition, each year starting in 2014, the number of shares available for grants of awards under the 2012 Incentive Plan is increased automatically on January 1 by a number of shares of common stock equal to the lesser of 4% of the shares of common stock outstanding at such time or the number of shares determined by the Company’s board of directors. Most recently, on January 1, 2015 and 2016, the number of shares authorized for issuance under the 2012 Incentive Plan was increased by 1,444,403 shares and 1,611,191 shares, respectively. On May 14, 2015, the stockholders of the Company approved an increase of 2,000,000 shares of common stock available for grant under the 2012 Incentive Plan. Awards under the 2012 Incentive Plan may include the following award types: stock options, which may be either incentive stock options or nonqualified stock options; stock appreciation rights; restricted stock; restricted stock units; dividend equivalent rights; performance shares; performance units; cash-based awards; other stock-based awards, including unrestricted shares; or any combination of the foregoing. The exercise price of stock options granted under the 2012 Incentive Plan is equal to the closing price of a share of the Company’s common stock on the grant date.

Stock-based compensation expense as reflected in the Company’s condensed consolidated statements of operations and comprehensive loss was as follows (in thousands):


	Three Months Ended March 31,
	2015		2016
Research and development	$	1,814	$	3,666
Selling, general and administrative		2,106		5,592
Total stock-based compensation expense	$	3,920	$	9,258

Stock Options

The following table presents a summary of the Company’s stock option activity and related information:



		Weighted-average
		exercise price per
	Shares	share
Outstanding at December 31, 2015	5,878,352	$	35.00
Granted	1,298,421		43.22
Exercised	(29,689)		24.56
Cancelled	(79,531)		49.95
Outstanding at March 31, 2016	7,067,553	$	36.39

Vested at March 31, 2016	2,646,197	$	18.39
Vested and expected to vest at March 31, 2016 (a)	6,527,560	$	35.44

(a)

Restricted Stock Units

The following table presents a summary of the Company’s restricted stock unit, or RSU, activity and related information:


		Weighted-average
		grant date fair
	Shares	value per share
Unvested restricted stock units at December 31, 2015	60,000	$	56.00
Granted	480,995		43.31
Vested	—		—
Forfeited	(3,700)		43.39
Unvested restricted stock units at March 31, 2016	537,295	$	44.72

ESPP

XML 27 R12.htm IDEA: XBRL DOCUMENT

Common Stock Transactions	3 Months Ended
Common Stock Transactions	Mar. 31, 2016
Common Stock Transactions
Common Stock Transactions	7. Common Stock Transactions In March 2015, the Company sold 3,755,000 shares of common stock in an underwritten public offering at a price to the public of $51.00 per share, resulting in gross proceeds of approximately $191.5 million. Net proceeds to the Company after deducting fees, commissions and other expenses related to the offering were approximately $179.8 million. The shares were issued pursuant to an automatic shelf registration statement on Form S-3. In March 2016, the Company sold 4,404,658 shares of common stock in an private placement offering at a price of $35.19 per share, with certain accredited investors, including funds affiliated with three of its directors and current investors, resulting in gross proceeds of approximately $155.0 million. The price per share was equal to the volume weighted average price for the ten-day period ending on March 17, 2016. There were no placement agents used for this financing. The sale and issuance of the shares of common stock in the private placement was made in reliance on the exemption afforded by Section 4(a)(2) under the Securities Act of 1933 and Regulation D promulgated under the Securities Act.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

XML 28 R13.htm IDEA: XBRL DOCUMENT

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2016
Income Taxes
Income Taxes	8. Income Taxes Deferred tax assets and deferred tax liabilities are determined based on temporary differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is recorded against deferred tax assets if it is more likely than not that some portion or all of the deferred tax assets will not be realized. For the three months ended March 31, 2015 and 2016, the Company did not record any current or deferred income tax provisions or benefits. Due to the uncertainty surrounding the future realization of the favorable tax attributes, the Company has recorded full valuation allowances against its otherwise recognizable net deferred tax assets at both December 31, 2015 and March 31, 2016.

XML 29 R14.htm IDEA: XBRL DOCUMENT

Intangible Assets

3 Months Ended

Mar. 31, 2016

Intangible Assets

Intangible Assets

9. Intangible Assets

The following table presents intangible assets as of December 31, 2015 and March 31, 2016 (in thousands):


		December 31,		March 31,
	2015		2016		Estimated useful life
Intangible asset - OPKO milestone	$	15,000	$	15,000	8	Years
Less accumulated amortization		(268)		(732)
Total intangible asset, net	$	14,732	$	14,268

XML 30 R15.htm IDEA: XBRL DOCUMENT

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2016
Commitments and Contingencies
Commitments and Contingencies	10. Commitments and Contingencies The Company leases approximately 70,900 square feet of office space in Waltham, Massachusetts under a non-cancelable operating lease agreement. The term of the lease commenced April 1, 2013 and continues through June 30, 2017. The lease agreement provides for one month of free rent with respect to a portion of the leased premises and a tenant improvement allowance of $0.1 million. The Company recognizes rental expense on a straight-line basis over the respective lease term including any free rent periods and tenant allowances. Future minimum rental commitments under the lease as of March 31, 2016 were $1.8 million and $1.2 million for the remainder of the year ending December 31, 2016 and for the year ending December 31, 2017, respectively. The Company has entered into agreements with certain vendors for the provision of services, including services related to data management, clinical and commercial operation support and companion diagnostic development, that the Company is not contractually able to terminate for convenience and avoid any and all future obligations to the vendors. Under such agreements, the Company is contractually obligated to make certain minimum payments to the vendors, with the exact amounts in the event of termination to be based on the timing of the termination and the exact terms of the agreement. The Company has certain obligations under licensing agreements with third parties that are contingent upon achieving various development, regulatory and commercial milestones. Pursuant to these license agreements, the Company is required to make milestone payments if certain development, regulatory and commercial sales milestones are achieved, and may have certain additional research funding obligations. Also, pursuant to the terms of each of these license agreements, when and if commercial sales of a product commence, the Company will pay royalties to its licensors on net sales of the respective products. Legal Proceedings The Company may periodically become subject to legal proceedings and claims arising in connection with ongoing business activities, including claims or disputes related to patents that have been issued or that are pending in the field of research on which the Company is focused. The Company is not a party to any litigation and does not have contingency reserves established for any litigation liabilities.

XML 31 R16.htm IDEA: XBRL DOCUMENT

Collaboration Arrangements	3 Months Ended
Collaboration Arrangements	Mar. 31, 2016
Collaboration Arrangements
Collaboration Arrangements	11. Collaboration Arrangements In May 2015, the Company entered into a research agreement with Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc., or Merck, to perform a trial to evaluate the preliminary safety and efficacy of niraparib plus KEYTRUDA® in patients with triple negative breast cancer and patients with ovarian cancer. Under the terms of this agreement, the Company is responsible for providing niraparib study materials and for carrying out clinical research activities. The Company and Merck share in the external costs of the study equally, with certain exceptions. The Company records cost-sharing payments due from Merck as reductions of research and development expense. During the three months ended March 31, 2016, the Company incurred $0.8 million in external costs related to this study, of which $0.4 million is reimbursable by Merck. At March 31, 2016, $0.9 million of cost-sharing receivable from Merck has been recorded in accounts receivable in the condensed consolidated balance sheets.

XML 32 R17.htm IDEA: XBRL DOCUMENT

Subsequent Event	3 Months Ended
Subsequent Event	Mar. 31, 2016
Subsequent Events.
Subsequent Events	12. Subsequent Events On April 5, 2016, the Company entered into separate transactions with Janssen and its affiliate, Johnson & Johnson Innovation — JJDC, Inc., or JJDC, consisting of a collaboration and license agreement with Janssen, or the Collaboration Agreement, and a stock purchase agreement and investor agreement, each with JJDC, or the Stock Purchase Agreement and the Investor Agreement, respectively. Under the terms of the Collaboration Agreement, the Company granted Janssen licenses under certain patent rights and know-how relating to niraparib, for prostate cancer worldwide, except for Japan. The Company retains all rights worldwide to develop and commercialize niraparib other than for prostate cancer. The Company received a $35.0 million upfront license fee from Janssen in April 2016. Assuming successful development and commercialization of niraparib products for prostate cancer, the Company could receive up to an additional $415.0 million in clinical, regulatory and sales milestones as well as tiered, double-digit royalties on aggregate net sales of products in the field of prostate cancer. Janssen is responsible for conducting and funding all development and commercialization of niraparib for prostate cancer worldwide (excluding Japan), including research, development, manufacturing, regulatory and commercialization activities. Under the terms of the Stock Purchase Agreement, the Company sold and issued 1,130,198 shares of common stock to JJDC on April 5, 2016 at a price per share of $44.24, for an aggregate purchase price of approximately $50.0 million. The price per share was equal to the volume weighted average price for the five-day period ending on April 4, 2016. There were no placement agents used, or any underwriting discounts or commissions paid in connection with the transaction.

XML 33 R18.htm IDEA: XBRL DOCUMENT

Basis of Presentation and Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2016

Basis of Presentation and Significant Accounting Policies

Basis of Presentation

Use of Estimates

Cash and Cash Equivalents

Fair Value of Financial Instruments

Level 1 inputsQuoted prices in active markets for identical assets or liabilities

Level 3 inputsUnobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability


		December 31, 2015
Description	Balance Sheet Classification	Total		Level 1		Level 2		Level 3

Assets:
Money market funds	Cash and cash equivalents	$	224,885	$	224,885	$	—	$	—
Total assets		$	224,885	$	224,885	$	—	$	—


		March 31, 2016
Description	Balance Sheet Classification	Total		Level 1		Level 2		Level 3

Assets:
Money market funds	Cash and cash equivalents	$	300,020	$	300,020	$	—	$	—
Total assets		$	300,020	$	300,020	$	—	$	—

The carrying amounts of accounts payable and accrued expenses approximate their fair values due to their short-term maturities.

Revenue Recognition

Product Revenue

Payments received from Customers in advance of recognition of revenue are recorded as deferred revenue by the Company, net of payments made to Customers, providers and payers.

License Revenue

the delivered item or items have stand-alone value to the customer; and

it can only be achieved based in whole or in part on either the Company’s performance or the occurrence of a specific outcome resulting from the Company’s performance;

there is substantive uncertainty at the date an arrangement is entered into that the event will be achieved; and

it would result in additional payments being due to the Company.

The commercial milestone and royalty payments received under license agreements, if any, will be recognized as license revenue when they are earned.

Research and Development Expenses

Research and development costs are charged to expense as incurred and include:

employee-related expenses, including salaries, bonuses, benefits, travel and stock-based compensation expense;

fees and costs related to regulatory filings and activities;

facilities, depreciation and other expenses, which include direct and allocated expenses for rent, utilities, maintenance of facilities, insurance and other supplies; and

other costs associated with clinical and preclinical activities.

Acquired In-Process Research and Development Expense

Intangible Assets

Stock-Based Compensation Expense

Inventory

Inventories are stated at the lower of cost or estimated net realizable value, on a first-in, first-out, or FIFO, basis.

New Accounting Pronouncements - Recently Adopted

New Accounting Pronouncements - Recently Issued

XML 34 R19.htm IDEA: XBRL DOCUMENT

Basis of Presentation and Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2016

Basis of Presentation and Significant Accounting Policies

Schedule of company's financial assets and liabilities that have been measured at fair value and indicating the fair value hierarchy of the valuation inputs utilized to determine such fair value:


		December 31, 2015
Description	Balance Sheet Classification	Total		Level 1		Level 2		Level 3

Assets:
Money market funds	Cash and cash equivalents	$	224,885	$	224,885	$	—	$	—
Total assets		$	224,885	$	224,885	$	—	$	—


		March 31, 2016
Description	Balance Sheet Classification	Total		Level 1		Level 2		Level 3

Assets:
Money market funds	Cash and cash equivalents	$	300,020	$	300,020	$	—	$	—
Total assets		$	300,020	$	300,020	$	—	$	—

XML 35 R20.htm IDEA: XBRL DOCUMENT

Net Loss per Share (Tables)

3 Months Ended

Mar. 31, 2016

Net Loss per Share

Schedule of share amount excluded from the calculation of diluted net loss per share, prior to the use of the treasury stock method, due to their anti-dilutive effect

The following table presents amounts that were excluded from the calculation of diluted net loss per share, due to their anti-dilutive effect (in thousands):


	Three Months Ended March 31,
	2015	2016
Outstanding stock options	4,791	7,068
Unvested restricted stock units	16	537
Shares issuable upon conversion of Convertible Notes	—	20
	4,807	7,625

XML 36 R21.htm IDEA: XBRL DOCUMENT

Inventories (Tables)

3 Months Ended

Mar. 31, 2016

Inventories

Schedule of current inventories

The following table presents inventories as of December 31, 2015 and March 31, 2016 (in thousands):


		December 31,		March 31,
	2015		2016
Raw materials	$	364	$	5,239
Work in process		83		143
Finished goods		659		610
Total inventories	$	1,106	$	5,992

XML 37 R22.htm IDEA: XBRL DOCUMENT

Convertible Notes (Tables)

3 Months Ended

Mar. 31, 2016

Convertible Notes.

Schedule of convertible note interest expense

The following table sets forth total interest expense recognized related to the Convertible Notes during the three months ended March 31, 2015 and 2016 (in thousands):


	Three Months Ended March 31,
	2015		2016
Contractual interest expense	$	1,526	$	1,509
Amortization of debt discount		2,026		2,315
Amortization of debt issuance costs		174		157
Total interest expense	$	3,726	$	3,981

XML 38 R23.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2016

Stock-Based Compensation

Schedule of stock-based compensation expense as reflected in the Company's condensed consolidated statements of operations and comprehensive loss

Stock-based compensation expense as reflected in the Company’s condensed consolidated statements of operations and comprehensive loss was as follows (in thousands):


	Three Months Ended March 31,
	2015		2016
Research and development	$	1,814	$	3,666
Selling, general and administrative		2,106		5,592
Total stock-based compensation expense	$	3,920	$	9,258

Summary of the Company's stock option activity and related information



		Weighted-average
		exercise price per
	Shares	share
Outstanding at December 31, 2015	5,878,352	$	35.00
Granted	1,298,421		43.22
Exercised	(29,689)		24.56
Cancelled	(79,531)		49.95
Outstanding at March 31, 2016	7,067,553	$	36.39

Vested at March 31, 2016	2,646,197	$	18.39
Vested and expected to vest at March 31, 2016 (a)	6,527,560	$	35.44

(a)

Summary of the Company's restricted stock unit (RSU) activity and related information


		Weighted-average
		grant date fair
	Shares	value per share
Unvested restricted stock units at December 31, 2015	60,000	$	56.00
Granted	480,995		43.31
Vested	—		—
Forfeited	(3,700)		43.39
Unvested restricted stock units at March 31, 2016	537,295	$	44.72

XML 39 R24.htm IDEA: XBRL DOCUMENT

Intangible Asset (Tables)

3 Months Ended

Mar. 31, 2016

Intangible Assets

Schedule of finite-lived intangible assets

The following table presents intangible assets as of December 31, 2015 and March 31, 2016 (in thousands):


		December 31,		March 31,
	2015		2016		Estimated useful life
Intangible asset - OPKO milestone	$	15,000	$	15,000	8	Years
Less accumulated amortization		(268)		(732)
Total intangible asset, net	$	14,732	$	14,268

XML 40 R25.htm IDEA: XBRL DOCUMENT

Description of Business (Details) $ / shares in Units, $ in Millions			1 Months Ended	3 Months Ended
	Apr. 05, 2016 USD ($) item	Mar. 18, 2016 USD ($) $ / shares shares	Mar. 31, 2016 USD ($) $ / shares shares	Mar. 31, 2016 segment $ / shares
Number of operating segments \| segment				1
Common Stock
Number of shares issued in private placement \| shares		4,404,658
Common stock issue price, in an underwritten public offering (in dollars per share) \| $ / shares		$ 35.19
Proceeds from issuance of private placement		$ 155.0
Accredited investors \| Common Stock
Number of shares issued in private placement \| shares			4,404,658
Common stock issue price, in an underwritten public offering (in dollars per share) \| $ / shares			$ 35.19	$ 35.19
Proceeds from issuance of private placement			$ 155.0
Subsequent Event. \| Common Stock
Proceeds from issuance of private placement	$ 50.0
Subsequent Event. \| Accredited investors
Number of accredited investors \| item	1

XML 41 R26.htm IDEA: XBRL DOCUMENT

Basis of Presentation and Significant Accounting Policies - Segment Information (Details)	3 Months Ended
	Mar. 31, 2016 segment
Basis of Presentation and Significant Accounting Policies
Number of operating segments	1

XML 42 R27.htm IDEA: XBRL DOCUMENT

Basis of Presentation and Significant Accounting Policies - Financial Instruments and Convertible Senior Notes (Details) - USD ($) $ in Thousands	1 Months Ended
	Sep. 30, 2014	Mar. 31, 2016	Dec. 31, 2015	Sep. 29, 2014
Convertible senior notes due October 2021
Convertible Senior Notes
Proceeds from issuance of convertible notes	$ 201,300
Interest rate (as a percent)	3.00%			3.00%
Net carrying amount		$ 123,800
Fair value of principal amount		309,200
Fair Value, Measurements, Recurring
Financial Assets and Liabilities Measured At Fair Value
Total assets		300,020	$ 224,885
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 1
Financial Assets and Liabilities Measured At Fair Value
Total assets		300,020	224,885
Money Market Funds \| Fair Value, Measurements, Recurring
Financial Assets and Liabilities Measured At Fair Value
Cash and cash equivalents		300,020	224,885
Money Market Funds \| Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 1
Financial Assets and Liabilities Measured At Fair Value
Cash and cash equivalents		$ 300,020	$ 224,885

XML 43 R28.htm IDEA: XBRL DOCUMENT

Basis of Presentation and Significant Accounting Policies - License Revenue and New Accounting Pronouncements (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016 USD ($) item	Mar. 31, 2015 USD ($)	Jul. 31, 2014 agreement
License Revenue
Product revenue, net	$ 173	$ 0
Number of criteria needed for classification \| item	2
Number of unit of accounting \| agreement			1
License revenue	$ 134
Upfront revenue received	1,000
Deferred revenue	$ 700
Recognition period	2 years
Maximum additional revenue	$ 2,000

XML 44 R29.htm IDEA: XBRL DOCUMENT

Net Loss Per Share (Details) - shares shares in Thousands	3 Months Ended
Net Loss Per Share (Details) - shares shares in Thousands	Mar. 31, 2016	Mar. 31, 2015
Net Loss per Share
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	7,625	4,807
Outstanding stock options
Net Loss per Share
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	7,068	4,791
Unvested restricted stock units
Net Loss per Share
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	537	16
Shares issuable upon conversion of Convertible Notes
Net Loss per Share
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	20

XML 45 R30.htm IDEA: XBRL DOCUMENT

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Inventories
Raw materials	$ 5,239	$ 364
Work in process	143	83
Finished goods	610	659
Total inventories	$ 5,992	$ 1,106

XML 46 R31.htm IDEA: XBRL DOCUMENT

Convertible Notes (Details)		3 Months Ended
Convertible Notes (Details)	Sep. 29, 2014 USD ($)	Mar. 31, 2016 USD ($) item $ / shares	Mar. 31, 2015 USD ($)	Sep. 30, 2014
Interest expense
Total interest expense		$ 3,981,000	$ 3,726,000
Convertible senior notes due October 2021
Notes, issued amount	$ 201,300,000
Capped call transactions payments	$ 20,800,000
Interest rate (as a percent)	3.00%			3.00%
Conversion price per share of convertible notes into common stock \| $ / shares		$ 35.13
Convertible notes conversion ratio per 1,000 principal		28.4627
Denominator of the principal amount used in conversion		$ 1,000
Interest expense
Contractual interest expense		1,509,000	1,526,000
Amortization of debt discount		2,315,000	2,026,000
Amortization of debt issuance costs		157,000	174,000
Total interest expense		$ 3,981,000	$ 3,726,000
Convertible senior notes due October 2021 \| Conversion of convertible notes into common stock after December 31,2014
Convertible threshold trading days \| item		20
Convertible threshold consecutive trading days		30 days
Minimum threshold percentage of stock price trigger		130.00%
Convertible senior notes due October 2021 \| Conversion of convertible notes when common share trading price is less than 98% of target ratio
Convertible threshold trading days \| item		5
Convertible threshold consecutive trading days		10 days
Denominator of the principal amount for conversion into common stock		$ 1,000
Threshold percentage forcing conversion when less than share price times conversion ratio		98.00%

XML 47 R32.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation - Stock Compensation Plans (Details) - Common Stock - shares				3 Months Ended
	Jan. 01, 2016	May. 14, 2015	Jan. 01, 2015	Mar. 31, 2016	Apr. 27, 2012
Omnibus Incentive Plan 2012
Stock-Based Compensation
Number of shares available for grant under the plan					1,428,571
Number of shares available for future grants that were added to the total number of shares reserved for issuance					6,857
Annual increase in common stock available for grant as a percentage of common stock outstanding				4.00%
Number of additional shares authorized under the plan	1,611,191	2,000,000	1,444,403
Director Incentive Plan 2015
Stock-Based Compensation
Number of shares available for grant under the plan		500,000

XML 48 R33.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Stock-based compensation expense
Total stock-based compensation expense	$ 9,258	$ 3,920
Research and development
Stock-based compensation expense
Total stock-based compensation expense	3,666	1,814
Selling, general and administrative
Stock-based compensation expense
Total stock-based compensation expense	$ 5,592	$ 2,106

XML 49 R34.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation - Stock Options (Details) - Outstanding stock options $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2016 USD ($) $ / shares shares
Shares
Outstanding at the beginning of the period (in shares) \| shares	5,878,352
Granted (in shares) \| shares	1,298,421
Exercised (in shares) \| shares	(29,689)
Cancelled (in shares) \| shares	(79,531)
Outstanding at the end of the period (in shares) \| shares	7,067,553
Vested at the end of the period (in shares) \| shares	2,646,197
Vested and expected to vest at the end of the period (in shares) \| shares	6,527,560
Weighted-average price per share
Outstanding at the beginning of the period (in dollars per share) \| $ / shares	$ 35.00
Granted (in dollars per share) \| $ / shares	43.22
Exercised (in dollars per share) \| $ / shares	24.56
Cancelled (in dollars per share) \| $ / shares	49.95
Outstanding at the end of the period (in dollars per share) \| $ / shares	36.39
Vested at the end of the period (in dollars per share) \| $ / shares	18.39
Vested and expected to vest at the end of the period (in dollars per share) \| $ / shares	$ 35.44
Additional disclosure
Unrecognized compensation costs \| $	$ 97.4
Weighted average period over which unrecognized compensation costs are expected to be recognized	3 years 1 month 6 days

XML 50 R35.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation - Restricted Stock Units (Details) - Restricted Stock Units $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2016 USD ($) $ / shares shares
Shares
Unvested restricted at the beginning of the period (in shares) \| shares	60,000
Granted (in shares) \| shares	480,995
Forfeited (in shares) \| shares	(3,700)
Unvested restricted at the end of the period (in shares) \| shares	537,295
Weighted-average grant date fair value per share
Unvested restricted at the beginning of the period (in dollars per share) \| $ / shares	$ 56.00
Granted (in dollars per share) \| $ / shares	43.31
Forfeited (in dollars per share) \| $ / shares	43.39
Unvested restricted at the end of the period (in dollars per share) \| $ / shares	$ 44.72
Additional disclosure
Unrecognized compensation costs \| $	$ 19.4
Weighted average period over which unrecognized compensation costs are expected to be recognized	3 years 9 months 18 days

XML 51 R36.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation - Employee Stock Purchase Plan (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Additional disclosure
Stock-based compensation expense	$ 9,258	$ 3,920
Employee Stock Purchase Plan
Additional disclosure
Number of shares available for grant under the plan	275,000
Number of shares remaining available for issuance	236,723
Stock-based compensation expense	$ 300	$ 100

XML 52 R37.htm IDEA: XBRL DOCUMENT

Common Stock Transactions (Details) $ / shares in Units, $ in Thousands			1 Months Ended		3 Months Ended
	Mar. 18, 2016 USD ($) $ / shares shares	Mar. 17, 2016	Mar. 31, 2016 USD ($) director item $ / shares shares	Mar. 31, 2015 USD ($) $ / shares shares	Mar. 31, 2016 USD ($) director $ / shares	Mar. 31, 2015 USD ($) $ / shares
Net proceeds from the sale of common stock in an underwritten public offering					$ 154,972	$ 179,950
Accredited investors
Number of directors \| director			3		3
Number of placement agents used \| item			0
Common Stock
Number of shares issued in private placement \| shares	4,404,658
Common stock issue price, in an underwritten public offering (in dollars per share) \| $ / shares	$ 35.19
Proceeds from issuance of private placement	$ 155,000
Common Stock \| Underwritten public offering
Number of shares issued \| shares				3,755,000
Common stock issue price, in an underwritten public offering (in dollars per share) \| $ / shares				$ 51.00		$ 51.00
Gross proceeds from the sale of common stock in an underwritten public offering				$ 191,500
Net proceeds from the sale of common stock in an underwritten public offering				$ 179,800
Common Stock \| Accredited investors
Number of shares issued in private placement \| shares			4,404,658
Common stock issue price, in an underwritten public offering (in dollars per share) \| $ / shares			$ 35.19		$ 35.19
Proceeds from issuance of private placement			$ 155,000
Number of days for calculating weighted average price per share		10 days

XML 53 R38.htm IDEA: XBRL DOCUMENT

Income Taxes (Details)	3 Months Ended
Income Taxes (Details)	Mar. 31, 2016 USD ($)
Income Taxes
Current income tax provision (benefit)	$ 0
Deferred income tax provision (benefit)	$ 0

XML 54 R39.htm IDEA: XBRL DOCUMENT

Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Intangible Assets
Intangible asset - OPKO milestone	$ 15,000	$ 15,000
Less: accumulated amortization	(732)	(268)
Total intangible asset, net	$ 14,268	$ 14,732
Estimated useful life	8 years
Amortization expense	$ 500
Estimated future amortization expense
2016	1,400
2017	1,900
2018	1,900
2019	1,900
2020	1,900
Thereafter	$ 5,500

XML 55 R40.htm IDEA: XBRL DOCUMENT

Commitments and Contingencies (Details) $ in Millions	1 Months Ended
Commitments and Contingencies (Details) $ in Millions	Apr. 30, 2015 USD ($)	Mar. 31, 2016 USD ($) ft²
Commitments and Contingencies
Leased office space (in square feet) \| ft²		70,900
Future minimum rental commitments
2016		$ 1.8
2017		$ 1.2
Operating Lease \| Amendment of Operating Lease
Commitments and Contingencies
Period of free rent	1 month
Tenant improvements	$ 0.1

XML 56 R41.htm IDEA: XBRL DOCUMENT

Collaboration Arrangements (Details) - USD ($) $ in Thousands		3 Months Ended
	Mar. 31, 2016	Mar. 31, 2016	Mar. 31, 2015
License Agreements
Research and development expense		$ 52,632	$ 33,545
Merck
License Agreements
Research and development expense		800
Cost-sharing receivable		$ 400
Merck \| Accounts Receivable
License Agreements
Cost-sharing receivable	$ 900

XML 57 R42.htm IDEA: XBRL DOCUMENT

Subsequent Event (Details) - Subsequent Event. - USD ($) $ / shares in Units, $ in Millions			1 Months Ended
	Apr. 05, 2016	Apr. 04, 2016	Apr. 30, 2016
Janssen
Subsequent Event
Up-front license fee payment from Janssen			$ 35.0
Additional milestones receivable, if specific clinical, regulatory, sales milestones achieved			$ 415.0
JJDC \| Common Stock
Subsequent Event
Number of shares issued in private placement	1,130,198
Price per share	$ 44.24
Aggregate proceeds from issued stock	$ 50.0
Number of days for calculating weighted average price per share		5 days

EXCEL 58 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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how.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 60 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 62 FilingSummary.xml IDEA: XBRL DOCUMENT 3.4.0.3 html 68 205 1 false 27 0 false 9 false false R1.htm 00090 - Document - Document and Entity Information Sheet http://www.tesarobio.com/role/DocumentDocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 00100 - Statement - Condensed Consolidated Balance Sheets Sheet http://www.tesarobio.com/role/StatementCondensedConsolidatedBalanceSheets Condensed Consolidated Balance Sheets Statements 2 false false R3.htm 00105 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) Sheet http://www.tesarobio.com/role/StatementCondensedConsolidatedBalanceSheetsParenthetical Condensed Consolidated Balance Sheets (Parenthetical) Statements 3 false false R4.htm 00200 - Statement - Condensed Consolidated Statements of Operations and Comprehensive Loss Sheet http://www.tesarobio.com/role/StatementCondensedConsolidatedStatementsOfOperationsAndComprehensiveLoss Condensed Consolidated Statements of Operations and Comprehensive Loss Statements 4 false false R5.htm 00400 - Statement - Condensed Consolidated Statements of Cash Flows Sheet http://www.tesarobio.com/role/StatementCondensedConsolidatedStatementsOfCashFlows Condensed Consolidated Statements of Cash Flows Statements 5 false false R6.htm 10101 - Disclosure - Description of Business Sheet http://www.tesarobio.com/role/DisclosureDescriptionOfBusiness Description of Business Notes 6 false false R7.htm 10201 - Disclosure - Basis of Presentation and Significant Accounting Policies Sheet http://www.tesarobio.com/role/DisclosureBasisOfPresentationAndSignificantAccountingPolicies Basis of Presentation and Significant Accounting Policies Notes 7 false false R8.htm 10301 - Disclosure - Net Loss per Share Sheet http://www.tesarobio.com/role/DisclosureNetLossPerShare Net Loss per Share Notes 8 false false R9.htm 10401 - Disclosure - Inventories Sheet http://www.tesarobio.com/role/DisclosureInventories Inventories Notes 9 false false R10.htm 10501 - Disclosure - Convertible Notes Notes http://www.tesarobio.com/role/DisclosureConvertibleNotes Convertible Notes Notes 10 false false R11.htm 10601 - Disclosure - Stock-Based Compensation Sheet http://www.tesarobio.com/role/DisclosureStockBasedCompensation Stock-Based Compensation Notes 11 false false R12.htm 10701 - Disclosure - Common Stock Transactions Sheet http://www.tesarobio.com/role/DisclosureCommonStockTransactions Common Stock Transactions Notes 12 false false R13.htm 10801 - Disclosure - Income Taxes Sheet http://www.tesarobio.com/role/DisclosureIncomeTaxes Income Taxes Notes 13 false false R14.htm 10901 - Disclosure - Intangible Assets Sheet http://www.tesarobio.com/role/DisclosureIntangibleAssets Intangible Assets Notes 14 false false R15.htm 11001 - Disclosure - Commitments and Contingencies Sheet http://www.tesarobio.com/role/DisclosureCommitmentsAndContingencies Commitments and Contingencies Notes 15 false false R16.htm 11101 - Disclosure - Collaboration Arrangements Sheet http://www.tesarobio.com/role/DisclosureCollaborationArrangements Collaboration Arrangements Notes 16 false false R17.htm 11201 - Disclosure - Subsequent Event Sheet http://www.tesarobio.com/role/DisclosureSubsequentEvent Subsequent Event Notes 17 false false R18.htm 20202 - Disclosure - Basis of Presentation and Significant Accounting Policies (Policies) Sheet http://www.tesarobio.com/role/DisclosureBasisOfPresentationAndSignificantAccountingPoliciesPolicies Basis of Presentation and Significant Accounting Policies (Policies) Policies http://www.tesarobio.com/role/DisclosureBasisOfPresentationAndSignificantAccountingPolicies 18 false false R19.htm 30203 - Disclosure - Basis of Presentation and Significant Accounting Policies (Tables) Sheet http://www.tesarobio.com/role/DisclosureBasisOfPresentationAndSignificantAccountingPoliciesTables Basis of Presentation and Significant Accounting Policies (Tables) Tables http://www.tesarobio.com/role/DisclosureBasisOfPresentationAndSignificantAccountingPolicies 19 false false R20.htm 30303 - Disclosure - Net Loss per Share (Tables) Sheet http://www.tesarobio.com/role/DisclosureNetLossPerShareTables Net Loss per Share (Tables) Tables http://www.tesarobio.com/role/DisclosureNetLossPerShare 20 false false R21.htm 30403 - Disclosure - Inventories (Tables) Sheet http://www.tesarobio.com/role/DisclosureInventoriesTables Inventories (Tables) Tables http://www.tesarobio.com/role/DisclosureInventories 21 false false R22.htm 30503 - Disclosure - Convertible Notes (Tables) Notes http://www.tesarobio.com/role/DisclosureConvertibleNotesTables Convertible Notes (Tables) Tables http://www.tesarobio.com/role/DisclosureConvertibleNotes 22 false false R23.htm 30603 - Disclosure - Stock-Based Compensation (Tables) Sheet http://www.tesarobio.com/role/DisclosureStockBasedCompensationTables Stock-Based Compensation (Tables) Tables http://www.tesarobio.com/role/DisclosureStockBasedCompensation 23 false false R24.htm 30903 - Disclosure - Intangible Asset (Tables) Sheet http://www.tesarobio.com/role/DisclosureIntangibleAssetTables Intangible Asset (Tables) Tables http://www.tesarobio.com/role/DisclosureIntangibleAssets 24 false false R25.htm 40101 - Disclosure - Description of Business (Details) Sheet http://www.tesarobio.com/role/DisclosureDescriptionOfBusinessDetails Description of Business (Details) Details http://www.tesarobio.com/role/DisclosureDescriptionOfBusiness 25 false false R26.htm 40201 - Disclosure - Basis of Presentation and Significant Accounting Policies - Segment Information (Details) Sheet http://www.tesarobio.com/role/DisclosureBasisOfPresentationAndSignificantAccountingPoliciesSegmentInformationDetails Basis of Presentation and Significant Accounting Policies - Segment Information (Details) Details 26 false false R27.htm 40202 - Disclosure - Basis of Presentation and Significant Accounting Policies - Financial Instruments and Convertible Senior Notes (Details) Notes http://www.tesarobio.com/role/DisclosureBasisOfPresentationAndSignificantAccountingPoliciesFinancialInstrumentsAndConvertibleSeniorNotesDetails Basis of Presentation and Significant Accounting Policies - Financial Instruments and Convertible Senior Notes (Details) Details 27 false false R28.htm 40203 - Disclosure - Basis of Presentation and Significant Accounting Policies - License Revenue and New Accounting Pronouncements (Details) Sheet http://www.tesarobio.com/role/DisclosureBasisOfPresentationAndSignificantAccountingPoliciesLicenseRevenueAndNewAccountingPronouncementsDetails Basis of Presentation and Significant Accounting Policies - License Revenue and New Accounting Pronouncements (Details) Details 28 false false R29.htm 40301 - Disclosure - Net Loss Per Share (Details) Sheet http://www.tesarobio.com/role/DisclosureNetLossPerShareDetails Net Loss Per Share (Details) Details 29 false false R30.htm 40401 - Disclosure - Inventories (Details) Sheet http://www.tesarobio.com/role/DisclosureInventoriesDetails Inventories (Details) Details http://www.tesarobio.com/role/DisclosureInventoriesTables 30 false false R31.htm 40501 - Disclosure - Convertible Notes (Details) Notes http://www.tesarobio.com/role/DisclosureConvertibleNotesDetails Convertible Notes (Details) Details http://www.tesarobio.com/role/DisclosureConvertibleNotesTables 31 false false R32.htm 40601 - Disclosure - Stock-Based Compensation - Stock Compensation Plans (Details) Sheet http://www.tesarobio.com/role/DisclosureStockBasedCompensationStockCompensationPlansDetails Stock-Based Compensation - Stock Compensation Plans (Details) Details 32 false false R33.htm 40602 - Disclosure - Stock-Based Compensation - Stock-Based Compensation Expense (Details) Sheet http://www.tesarobio.com/role/DisclosureStockBasedCompensationStockBasedCompensationExpenseDetails Stock-Based Compensation - Stock-Based Compensation Expense (Details) Details 33 false false R34.htm 40603 - Disclosure - Stock-Based Compensation - Stock Options (Details) Sheet http://www.tesarobio.com/role/DisclosureStockBasedCompensationStockOptionsDetails Stock-Based Compensation - Stock Options (Details) Details 34 false false R35.htm 40604 - Disclosure - Stock-Based Compensation - Restricted Stock Units (Details) Sheet http://www.tesarobio.com/role/DisclosureStockBasedCompensationRestrictedStockUnitsDetails Stock-Based Compensation - Restricted Stock Units (Details) Details 35 false false R36.htm 40605 - Disclosure - Stock-Based Compensation - Employee Stock Purchase Plan (Details) Sheet http://www.tesarobio.com/role/DisclosureStockBasedCompensationEmployeeStockPurchasePlanDetails Stock-Based Compensation - Employee Stock Purchase Plan (Details) Details 36 false false R37.htm 40701 - Disclosure - Common Stock Transactions (Details) Sheet http://www.tesarobio.com/role/DisclosureCommonStockTransactionsDetails Common Stock Transactions (Details) Details http://www.tesarobio.com/role/DisclosureCommonStockTransactions 37 false false R38.htm 40801 - Disclosure - Income Taxes (Details) Sheet http://www.tesarobio.com/role/DisclosureIncomeTaxesDetails Income Taxes (Details) Details http://www.tesarobio.com/role/DisclosureIncomeTaxes 38 false false R39.htm 40901 - Disclosure - Intangible Assets - Intangible Assets (Details) Sheet http://www.tesarobio.com/role/DisclosureIntangibleAssetsIntangibleAssetsDetails Intangible Assets - Intangible Assets (Details) Details 39 false false R40.htm 41001 - Disclosure - Commitments and Contingencies (Details) Sheet http://www.tesarobio.com/role/DisclosureCommitmentsAndContingenciesDetails Commitments and Contingencies (Details) Details http://www.tesarobio.com/role/DisclosureCommitmentsAndContingencies 40 false false R41.htm 41101 - Disclosure - Collaboration Arrangements (Details) Sheet http://www.tesarobio.com/role/DisclosureCollaborationArrangementsDetails Collaboration Arrangements (Details) Details http://www.tesarobio.com/role/DisclosureCollaborationArrangements 41 false false R42.htm 41201 - Disclosure - Subsequent Event (Details) Sheet http://www.tesarobio.com/role/DisclosureSubsequentEventDetails Subsequent Event (Details) Details http://www.tesarobio.com/role/DisclosureSubsequentEvent 42 false false All Reports Book All Reports tsro-20160331.xml tsro-20160331.xsd tsro-20160331_cal.xml tsro-20160331_def.xml tsro-20160331_lab.xml tsro-20160331_pre.xml true true ZIP 64 0001558370-16-005481-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001558370-16-005481-xbrl.zip M4$L#!!0 ( +9&ID@'9BN7^=4 '[Q# 1 ='-R;RTR,#$V,#,S,2YX M;6SL?6ESVTBRX.=]$?L?L)J9%]T1E,Q3E[M[0Y:M>9IIM_TL>WK?)P<(%$6T M08"- B1S?OUF9E4!!1"\21$@:XYND03JR#NSLC)_^K_?1[[UQ"+NA<'/)ZVS MYHG% B=TO>#QYY.$G]K<\;R3__O+__Z/G_[/Z>G_>_/I5\L-G63$@MAR(F;' MS+6>O7AHO6=1Y/F^]2;RW$=F6>=GK;/6Q<59TSH]E6^_L3D\'086#=,^:Z6_ MW,J1PN#:ZKTZ?]5NMLZMB^MNY[IY:=V\%\]][T>^!7[]Z]?S\ M?(9?GX71([S4[+SR A[;@<-.Q)/7OA=\F_,X_MR'9:G'OT\]_]RAIUM75U>O MZ-?T41C(]=)G]7'/7XD?U:,N*SS'F7/V&#Z]@A]PK]W39NNTT])']E;88\RC M,/=XS+@=A7TO/'/"$0&SV4ZGHS9SR?<&XU]A Q]-XS8X.<3A,^I@L+9=^Z>6*_$0$AZ81"S[['U MP)P8>(!(#7YQY->>^_/)#?_Z8?"U^[73_(H[_2JW_?4A!J)%3GAP6&!'7GCS MW>-?<;:O-_"UBS]]&'P8L\B.@9]^94!H[]FHSZ)TB,^PZ ^#FRBR@T<:*ANB M[#VQ?U@>/.G%$_D)/GLN?C/P6&017%@.J(K<;N__>?)+$T#;O6KU+LY_>I6] ME@W%V2,N)/T"OA+4?,V^CWW/\6*Q%LOUX#DA-^1VKDLAE4Z MRUK+*(6J7,8Z<__T*@^4GU[EX/\3#.F%KH8-(M?X%\$7W=-.\Z=7ZCLU@O;. M3Z\DM M'4T>;)^5O?LQ\IY@_(^^[= D-2.^(DQ.?E&/3 %EFU0W$Z[9_.6 W2'YG9\V M.R"6-R6_UN7&Y'>,U+,IXEJ7VY$;)2IK)W+C_N.'XT7VED5%"LO=*J?-I4.K M/45E-\]VY*(2SE''.[#,P@ECM-D/8[2VZD$MN>UD&)JYGYUBK-7>@CR?,B<6 MLG9NL_5 VQ),5K*KJBOCWM=6-\]M8$T$O]DCEKD.;[T(O)DPN@>7"1;WA 9' M@.\4)?KAJ7$=&-+B7P"-K@TF6D:6\S:;JB3_>) M\3CRG)BY!(8O@1?S3P]?ZD%?,_RZN7NJNF_7!I!ZW,!>,+1HU*4)'-7HJ+%XI;D7C. M\+E;-[H+JGACKR9E%=##AFT,VQPBVQ3],<$X"_TQ\=B&=NYR_+7F0<3*O%4; M3MGCD<3VN:1.])H=LOZTZKQ-@R>6!1[?9_A[_4@ MNK(=Z?16LJ6=HANTS=42Z*;',/5KDTC,M%@R@9B*G].6'IL9/+X0'M<\@=J* M8%X'X28KICZ(%B+9J-P74;F:0$XUZ2:1\:NO[2N#MA='6_MJQWH4MR)VAK!X M,P'U\F<"&^1.Y)'XR>*FV6,?!AHP?@MCQN^#.-1>+P:+,"^-W^M8HBVFYM/KP)7/P7GI<\ MV?[4B=/[,&"3]W;TC<5W2>#R@E"ZL[WH7[:?L#>3],__ B38D3.<_,J>F)\; M+7WF/A@G,:<'6K.'?,]LGD045;F+*!;L3,K'TY[DGYB31)$7/-:#TF8C(:.W MYN;G\:G;ZQ #+:=&.)M"-W[8@I M\3A07F) &8%F!-K^J7M7[L$1D^*AXWS93!)8CNOY"=Z ?,"]>;''^+OOCI^X MS+V+PA%>M$AB&NO#X)T=!;!Y_I%%#T,[ CB6#S O$:D>I+)#P,Q,9SJ8P\0* M$5]]DZ)>@@ /.<6J0D18.%3.GC*D..O@O0BC R3(GDZ0/:.2*T&&+Z^2EZ_& M<"#$9U1R]51RI8C0Y)P=)KIG6&#W@1..6'H?\-?0L=-D6_7, _-]X*6_LX!% MMG\3N#?NR L\D-4V,M.[[V, >5WLJ3D;UBY)K[+C [2.-B 6T.$,HXL M+<8 M/0S'^*B$V &1R!+[/![",(5G#SF"-,-2,*JCVJJC4F:E41W541V5(@RC.@XI MTE$\[:Q2VM6.BNZ;^^"5SBOI?FU?(,+:IC:OJ:;9:;#U*Z(9,N&Y,XZ3!7-QV5JHVW+9^AJQ&DZ=JY I\?=L;-(LMWE M2+:[<7VWBVK>,VE>;".+<4%]S4.MD7G$-2K7;S!G<%T1[U=3I5VM?G?7U,KWQ"U-^^@"\JGVI]M;%XS#^R*);"A9]MJ-'%G_"I1;D^^$1XK9JIFX/V*:J MZA9/.CIE?.8R[^NO[-'VW]'*,VYZSR+G&^)O_#8FKX8\K8[Z7A#Q:R7Z+A#SZVG3/,<_T,<_<>MHBF]YJ[VO[2J&%F!O[=V$%O:^ MT1?2Q__G]!3;55D/S$%@G)Z*KQ/\#J&$/[:N4FB,1-$AP?R2FW]ZI;X5X^.[ M9:-'M_G9Q/;*WZ=AW[(@ M''G!K(%18'G7'#U2/FODZ2%^>J7M8/:&+Z; )J8;PY_+ NV\'/3V8\38*L#O ME8_C>A$@/HR6':9;/HP7L]&R0W2FADCBZ)K_.5AZ+^VI$6;2Q^Q!9N"FC!3T M08!?/B=CGQ49!KY_YQ-&BK^@;9\F&MWY]J,E&? 3&RR60@/;YT L4X-D8TO7 M[\[CCNW_#[.C=X+Y5YKF5-T F#=B-N?;T$E&Z2,?2;KL 5)?&,T>>SZ);0/EC&*T&_E\Q_&G=. [S4;\QUZ*Q]"7D!B_._(D]TA7+(,9\ M\I6F_OSNX>;3AX9U'SAG^GSY(<6$(I_2<:*$N?><)QBTN@UYS#\,[@&3'O!U MT@>GX,-@P*(B$2RPN@M$T=:IXK2#O-8%(OWIU:IKT%?NNAZNP/;? S!Y' 8, MBRHR[\D&+_Q^\#"&&0>><^M[@0_*/]@2EV0S>W'[$:!%$ MVLU+'2#S%ZWO+O1]NQ^*.\Y:_B]'RD1Y!82807(%_EPG_+D0[;DMKK3R+6^Y M2B<3BZ!VM26HY0[,[@$HH,O4Y>?/^/1G -,;']AZ)3'^GW[\&OR5_WR,7UOR M;XO'$Q\\UQ$H%R\X]=D@OF[^[;7\&.'Y&WX^P7?PE5?R_35>_]__\;_^%[XV MSK]TW1S'KW$+IUZ KO%UYQR^&,"V3@?VR/,GUY^]$>/6;^S9^A2.[*!!GQL< M)/= /,>]?[-KJX4#I3/15/BKFLWU^-BW)]=> )*):2]F[WT>,FL 6 N?42_% M1).(??@RBH=6',:V;WD2'183^+# ;PH? QC)A3]]4LQQ: $)61HB+3KZM-R$ M5![^& _!<;/ 7HF'W )['EY[CS?>K4ZK8:&VL\!PP3_.K1^\ !X/$P[?\!^O M"0^X?AVJK\:+8+P7D/ZG/1J_#OI\_'J)56L$]>RY\1#&T6E/( 3,'W]LNVC3 M_7S2/*'/?&P[ZK/M>X_!SR=X-PXY5HX'?.BRZ-1!GAQS=JW^>"TF@ITVSYH9 MY0I"GMI\'*4?Q6?7>I+S]<,X#D/P_%U:QQ; :@_ZR]O MK_"_EOJ19ISYJQA]]N^"TZ9_'C+Q ^P--B/!5MC8YA23GR4$FA\ #UT//1<8 M6B.+XKPK$-0">LK3DJ2MV%T-6\WV6:=IL#4;6WG8;PSNUEGWW(#[QW,I!&L&7QJ@VSM9 &APE[?- SST/=?ZBP@W MOQBD*?1$6[T6,8,78XMG(>[ZH>^6\658P42H4]C MQ5;7A]B9?>O)R].6@[>G#]#*K:WOMS?1L_&!ZR'!=P=:M;XY]):$P=H@%>< ?8B M7V"]EALF6.UB6:%>%R^S!H>V:T"_NHJST[@P$6HC'XQ\,/)AAGRXNFQ5B+0/ M33X4#&CQ$>M8%1&A?MW-FA=PXO*ENO0E%ZALI1IPZGVQ*%CRSRF+6A=8- M)]9?M_0/:;&^Y6ON::7ZM(K@'P8?(R]PO+'MWXPP)R3]S0N#NS#*6F+!X*%6 MJG:52H\'V?=L7E7%)A8V3DLJ;@/<2V+OPP!7^(4S]S[(QEH'5WN#2/D6#YHGF5KJ1T<'URX%E8SHUJ!Y#5Z?W$GEB0L/?V=V^4 MC+8&*JJ$J]<[778%% M6-Y[Y<4L F-K+ACS\VH+!!O@QJ'L0Y+980!_BG:V5) YB/T)UKYF[L?0]YR) M^.>A%8[=W$]9RDG!GZZ]&"QAI]1MP4DS9%AY;%BGED*()3 RQ\"JP&8WJ.!: MW=J^]X'UWIY@/=UN@^KOWMT\O*'\!N9:-P]?K-_",TMV-FM8ST//&5HV]MG@ M]/1CXKF4"#$((\O.,(T?(RD2!E$HQ"O>!^36LQ>AQ MFIPG(,]!43,QFQHQRD04_/UGXD62HKQ )[<'['%@1[#4V]#%XNO$S T+UG;S M<-NP/H=CS['.F[V&I<27)OP:5&C8B9B-%8IM*P!DJ#?.LS=H=[?YW=W.W]US M:-EN2/:H-6+Q,(05@IEIP5Y'7APS]QIV%4-_:;4CP@A:T 1AC7!26FZ=(N>L1D-)I7ELT6'XF>A^![20C MK% /WUIL,(#?,?O%$VT"X#FQ UFT&7&EU7NV8_K6Q9X@V4N6/<:N9X2$4L M+=XDCP [JO,\EQQ[ITBO@AQ=-@!0T]-BH;ADFKL_L= IGC [0@B^!6E#?=QP M.VX =.7Y"K3KH*,(;I2\A^$19 M:L[4ES-H7&X.]%V(H(E"[(H@D8-#PZI3.(O<(]PBET3=L/H).OTQK!.VP>C' M$#0$6+U^$1#P;G'SY[-0(*IMXQ-S,7!^VKQ4&'!\.\+670()WF@L&OV(G*E4 M1(1(C](2M]#J3H#L'[$A$ @'[KE,*-O9X )O96P'$U@,$"=5H0?X$+ !U%'H M@&.&.V5/MI_8!$(IK_+,9GDQH FX*8D]'^B5^%PN'-A%X!D_YT$/LZ9;H=>' M]A-MRD.> KQRUZ)"A9O $8ELNUB4=K2V0J[$4(7*I^+QHDB!4#<2P.4KNU=7JM[FCU6^OSO3"@:U/03($IZ$]& "DD9 Z^M M8?@,?!$!X4\%BN=(09%U(X]K2F7B(#\1K 50QH [U3IL0E"N18@/H@C":E&)?MBK*GLK&DY\@SE24D/XVNO2!% MN \<%N&$F/./GA. ^AN+2V=]3S_!DTCH?9P*P"3"'O1Z [S)&+ZUP?XD:8\F M "//M.P'RT?3%I9);L)W;P32#T :A-'(1J5LYSWKO9=C4%A\$CA#;/(E-*=.(SG4(4%M@9X(&C)\-$*_&&T/Y!8ZKJ?1 M9PD0?/?O-S'P6-13Z*_45 M(_;D<=BY'J4KQ/'E8%JG1G3:^J"K2:V$D:!Z_)LQQ0'2M%)?DM,HX\.P8C&D M[RE3'M^Q+3K>.@T'IPG.APTFA;V':I3>F"U(<=/I%J;+!XI%(\0MAA^/49I>[6>E+HZ/%F[_$%">K+(\>Q G"0\V4"7 M>$) 1$^459!+''.S3OLVBJ^Q:H:,\508(YRP&=("N[N3].,4;=)8(V5&Z6Y( M7J*CF.]$W;']'9@T8 -/TAY805$\ #;B,EZ'0BYRA7$#PV"84'L)#1K5'E4R MCGPHI>F&%=DR"$R&D(5KB"=")FF'0^BS^HR:*BOA&N5.,6!CP-*G3XPK@ V8 M%U,03L4Q0P?X^"5$ZGSC='LBM7H2:IXD.M2 ,P?56!%:^H^J[=\3^LMWWN9UO+JB>)JRS,:N\6,1@72 M=2%1 LW;R$,VM%?)P"NNJUU8EQJS9+JW]H362#R/29>WMN]08D'PJ*6?_D[U MVYE[(R(UE&L+[U#^[:P&Z*T++2E+?4A1HGCPU@=3L@PEVNS;0N.B]$!K UG:0 M#>=QT];%1*_ CIWB7M6J2E:<#GWS2 ;3+-Z:D[F]*VG7+&RCL-22S> P)!51 MVY2@X$*NO5N<^GR!H,T-K$W\4=J9G\,;AQPMT&]NXL0J.S5PWWL^"N: J4>W MF83=S:7$KK$8?2O$"1\&=Q&C!.HOX#)$E$Z=YMC.DA!9FGOW:ZJ/#AA\&',67[!(\T88'/42P \+. 0S9$V7LH==\KD"S>E X"M F9 MR^^B<'0O2SKA;9!4&OP=?.[Y+))/]G\A[7/_\<,2-R(HA_JJU M]^JBO8U-D-Y^@R$"M%5 *HHK*YEH>3/)'I%"\N;9CMSLE@;]CC>^XO?VY V[ M28+%P8Y4L9W#3DE)?Q3@8("??1*^-5B M74L:()U>SD>9M4L!"+F":^EH<> 3E#LJ:6N:Q4$(+VL^7C9;XF;M_$G67,@* MQDR[T^FNO1",F((OC?S#XJW Y?RB'"QE,VVTIA5 U.R=K[^F*&'NK_(HV0.. MVP:0.N?G[O7EB&MJK /9T]_0H.']G0 MG^WO&RWR]&J*L%:9N[#PU(S\:'MX4=\>XSW36?4A5N>"R\N+RP*&%TZYA24N M#\[+7N>BV]ULA;X?XB4(M]Q8V4$Q@\Y5NYE?\E)+V/&R5_"T<[;ALCYWL\I[ M%IR6>AZ_AB(I)+=K-.;QM/XF<-^R)^:'8PKRBTF7@0(*\!")M7]G M 5CC/A:V<$=>X/$XHGNP9Y%0"R8O#EJMV[K-ZR=\S"G6JP\(P] MOQ0+@]5308K=(POW>E?MS0&B5<<1M8?>RO9H'R,V\A;4GIDASK9TN9?#7ZMW ML8/-H=R46-_J*5:[750M2RYB!TM?T1)H=R_:6U_Z?1#;P2.B_ 8SO+>W8-#B MO;F@+LY<6&40@UGA)Z@E'IB31.14O_LNKJ?BR1,*^B26@[VS(TQXY"HW1)26 MVX!PIES^RV:!S+>QP/WN.8O+;S;QFTGY .M%^:<@?W'5,I#? /)@BL:1YZ"5 MM-PY%DGU\_K#?+ZXFJJH>-[N'=J>7Y3."N9#]M1R%%>,5!GHOXQ\O6B>7QK( MO[1\[75V;TY,&W0KQ^7;O5[[LJ!^RZRU65,M;]UVNIVKBXLE9]K*H5*[<]XM MFA;ZZ*M-O,).V[V+HGI=-.^=[47_PO(#;]-K=7,WGQ)G^N*;R?OL]OQ=1,?/ MSB1'R.FSVI-XY@?+ EI;UIUO=R\O>R6[*]G"KG::_OE?'HLP"C?Y%6-PY9N] M#X"M.#W0*IS$'RCPIL7DBV\4 [Q%A?_"&ZTMD:P/NS[B1W&C6]1],X6O7GH;5##%<<255%F8S,73@24*@5(UF"2P$[KK1Y=G MZ=HI55X;1VQL1Z)TWN=W#S>?/N =5QAS$.(%65E[1;LLK57U>Q3G(GBMUG$8 M%7"3]V.1]>$3G:X0^=R, ":.346IL"K.NI?J#0UM1D/R4G.^K@^(+?O!HV*<(1#,:?@<8.TI=?SJS;A??^/#Y-YC0/6V MJ?!:S")'E0*T?4P4YEE1*=L1J\G(F_D>=>X0I)EM;U;A*?WB=W;K6VQ45,?: MM,1*&$QWF%RU2HLJQ65Q]B@+;JKBL70''0E-*U%NXX4N+NN0N]EYKJRM.1IA MGC#5"5,WU<, R\X\3JB0HCUFX-@YLDA!,J;B25ANDV*3 4L:@P#@+8W,N'EMW$K:[M[).\%_D59TNG*O;)$ M(%5!D'4VI;@OE2JRV%:I%,D8-),]H!G"^249J-"%J/I0-FHC+5XW]@))R'I1 M6B6ZL%"-K'88*>/5LMT_$AZ+U04,BSM@82>J:V,-P#)5)6UR-7!*]YTM;1RJ MLCI4688GOB@]HLG-@:Q15ZQF(:KCY@JA]F@846S]F!AE;[IR-8RA,,1"F(IX M/.(3JAN-PE)23/F8HMP+%G-Q8EG9D*H6)[ZOES)9DR^T\GH1LY4B_",)1,&7 MM#ZA,A#+;4A1-"?(5DUR4XN[IWVFPM/H'Z9:;Q57H<2/I/XT:9'_3#E3 MZRK[&TM;_ZIV0<+HM#E/1F,I&K'0M2U:^@H!BB( _=J1N$*$4HGR>QIIBP8/ MK5+9TU1V890W*1NR:5.^"84L:ZY$56F-_A+)^R&@AH6!Z.36Q]!)0]^D:I7) MJ?IVND6](6^V;S4I0(;;OO"B/=&L2?;:%98WFO=43,-R *W4+3F./-G=#R9/ M!C9:USBX;OIG !"2%]%D :;CN;9-)*_IROZ*9<.1DX")O;*VO:-=,%6/E;=@ MTOR\# Q""8@;MRM0GBB!GPTSLETF"3)@FII3L%MB8XLVU4A](4EI A:R6GO* M/BKG7RC A4XHSE>@%U1W0P_+9Z>]L<&!!D^X87T+P+$&_%/_.?*UB+I%K[=3 M[$6 $"93FWY(FY0BD811UN0PZWHH&P/(WEL82')ECU#'BYQDA'T'G%GN.U > M6=G"QAG9$^ A8-U(]!T7I?.U?44ZIQ]M.^&**.=;FPMVH#^P9#:0,K)7M;=U ML-Y'&I:2C8,Y.;)#[W'H3TY]#_#C4HLWY<62?$M;JH?(["-0K:@(@-WPQL1$ ML6'69WV<@!"TN71/(L:L$2QG2+Q)7?B$/'"0)%A&$N7-*Q4!%9].Y7/?#KZ! MM!T)H4ONLA!;,"F;2+$%7D_@*LE$^\,8]$@Y5&0RB&"74))RH(86V0+%-L9& M;C#RE[.',^L1%&@4I"&PJ>\>,1-9;YX\>W_ZMNQ(-T=B$3>0[1*/B61$65[%V4>5\Z Z#TO[&N6BT9B^ SDG##I1:NVS*J? MP6Y"6# R6$3G67B;<]4(4T1K$:"E7 1:' 9EGD0TC'G562#SK;5M(F'ZG($ MRJ@0;Z7]F[I!*1M03BNLR%"&*_M8BY:,JP %LQ2^ A#X^&H3BR9L:"6*SK0X MQ=0"5MAW!K%,MU _)-'KVDZ;SVB0TTP[&B U%)W-CB!^^\DC,D%5RV,;=%;3%@L(B8L3N'00Y.R"TVH M3'09*JX(%;>/EHH_9(I'JH4P:]Z79W$]1O7G$L3//=B['963/JF/_"A+, S. MI*8004!YP"*F-_Q4$7[J'"T_?0G"*8XB2M639DKCJABUTX/<=C],9#M'[5OI M#V.4UG.\L4U>/IWD):(E)S*3LN1$!V*-A2;'Q"$5^'SX06(@R92,#S M.19R#7N%_+?4CS3CS5S'Z[-]%ROSTST.1FMZ"O>7%NK:QS2DF/PL&" ? RM=# MSP6YHI%%<=X5"&H!/>5I2=)6[*Z&K6;[K-4VV)J-K3SL-P5WZ^+LJFG _5+@ M-M3]LN!NG76Z!MPO!NZ+L^ZY ;<1)H<);B-,7A3&%^TDYG+MT'GZYD&'SO>(FE;[T /EVP(N'3;33J_%\5PEP6UH>3/@ MPIKYV ;HMEHG"]5K<]N0IBMOEKRN62_*7DO&EQ:?9-[!TI@W]92W?3S M MRMJ;"K:FKMAS,K@LNWC#N1-YXJ"VT8@YY+X1 MY="T"_5#QF+MNJ)OM3,FMJR;6/*[AO1G\/8]@T_&GXT_%@)1-,U M%JV6F&%-PYJ&-2N!Z )KM@UK&M8TK%D)1!=8LV/"L#5BS4,(P]8%E:WBV"O< M%EMT_="HP J<$Q[=F3=-54EH&U+>)7#WG2)YT,#=][TO(R?J".U* M?(B1T" M=]]7NHR\'"R(DZ0KN2P#5RPLB) Y$31QS2W@2XAQJ# MOKU]]^[NKKI1Z$4=P6^H.F&^D-_!*M071-8Q1J77!&\]Y+XAYV.S$ $O!6, M31MI40MX5Q*\1EH<6X3:2(M:P+N2X#72XMCB3T9:U +>E02OD19&6AR0M*A@ MO+H>Y'P0$>O*QJ4+8>CW8;%]\ %&I.N"C+J5E3A(),SLQ6T8HYJ*=@=VXVH7 MUNI"V7_= 07O(+Z]&O#7@&9+*Z0JQ^V4F94G,-5S9(]_/A'_/E%@TYJ4#?S0 MCJ]Q;^FOK^!G_+O=[C8N+WM&/ACY<+SR80<1;2,?C'PP\N%@Y,/6HU([!;X% MDB!MA;R50-0V,&,5ZD10-]SN(5YX-A+'2!PC<8Y)XNP[CEYQB7,0T?*MG54H M1A$@W1=S4)E*V7_^ '5P;4^6ZA$H/[:#4D/.=3(V8;V6&R9]GVU2T*WJMW?J M%SG?*EY,T,S(&R-O#DO>;#D2;^2-D3=&WE0 P-65-UN-L^T3+\<>@C,2S$@P M(\'JC)=CEV#[/D2HK00K'"^(CS;0<-%05K]N:\VY)2]/6PM2J=,]C'>QYN:: MBUZ4 %Z^:LV!D9%K%%>I!T-8LASF^Y+$?CYIGM!G/K8=]5ERC6B0D'*-I&8@ M5=\>?.V.H8:B9D\+]I8YEUOGS/PLX1.+P/]\ MOAYZKLL"C2PVD+ O<:%@[U9AU;%U8,=2QP5N0]TO"^Y]7_X],G#ONRS1D8'; M"!,C3 X7W/NN6G1DX#;"Q B3PP7WOLN4'!FXC3 QPN1PP6V$R8N">]^G+ <# M[L*I2SVCZ77K ;R5EK_UT+HU[651CT!YI?J7'^7UC3K1,JR9CVV ;JMULE"] M-K<-Z=5NKE:*LG?1Y_V]'3G##(>=5L-J-UOGQY&04FGEO !Q:VKKJMI9^V'+ MBN#R+>-.Y(UC+PR,Z55U9!4R^&;_M75,[L+.,^HPA]PWMF\'#LNP^#!D+,X^ MWOHVY][ F)_ALV58T["F M8G?G4\RT\4LK%NJ(O.]7'$I.M1$[*V M46G31J<6\*XD>"MH(1X2>"L8FS;2HA;PKB1XC;0XM@BUD1:U@'(RV,M#@@:5'!>'4]R/D@(M:5C4L7PM#O8=43"Q;RC<76 (CE M$!N[UP49=2LK<9!(N+7YT+(#UW+P#_9GX@%<61 ;QJBHHMV!W;C:A;6Z4'8- MNKVO#OPUH/E"+98[S6:CV6X:^6#DP_'*AQU$M(U\,/+!R(>#D0];CTKM%/C5 M;#C\GX?=)]V(&2-FC)@Y>#&S[XAYQ<7,0<3%MW8JH;A#@'1?'$$%*2V;1<)PL3UFNY8=+WV2:EVZI^3Z=^,?*MXL6$QXR\,?+F ML.3-EF/N1MX8>6/D304 7%UYL]7@VC[Q4LVXFU4H WVXD7XCP>K"*4:"51,O MQR[!]GV(4%L)5CA>$!]MH.&BH:Q^G1F'] *7!6"DGV]%2JQ[3C6=1YUN:UR/ M;7P>,LNQHV@"5&/9(Z"IF%OAP+(=1_P]MB>((,I6AB^CA+D6^SYF 8<%VN-Q M%'[W1G;,K'C(O,@:V/ /X)X$?G43^#:4/_!A&,6G,8M&%CR>1%[L,7ZV)NP, MQM??QGU@/;!QS$9]%F&'WFX#,63=AJ.Q'4PLCW-$\9347%6#MM$0V704"T#C M>V%@V8^/$7M$,AM'7N!X8SP1(VI%8MUTF@ZJYHW7ZH3!$XMB#[F%L\ +(Q#; ML>2##TX<(L"I*W(;_@F_"K!G+_V&3Y^5M6.YQ]8BC,> G90A.1MYIW80)+;O M ]H 1E'$[ BX-[!N $J^U2*F36=&2#';&5H3>*QA]1G098!LG[U +9M[I4NX M(;% 39XMU=M94$XJ/HCM\:G2C36L@!&VD@ P![_\&\@,X$IRAE;JLGY,](>- M,P&RCT[SZFRZR]*: M^RA%\^<@":\PBT.C<>P*%^>3!SAU2DC89+';PR$8 #' I/%+W+O/AR6AB M#4%?AHZ3@%'C"HWKQ;[R)])IR2OA/'0\TL.1Q[_AX'[(.8TPMDECR;= ?P$@ M6=10*AJ6 A;5P/L.SX!!!@H-_!,O0/NJ@>WL?.:@3!);U4>@P?L,M@PR_ M#T_!U,1- 69H&[C $*" @,*I:#\ AV?F8WZ:-O@X70MM[6P&WVR/ _&#;8%A M":-\=<9?D<^^MKZVSB^S,SA[S2EO,ISD0 H[MN&3A 1"5X+>LF,B%H &TT!1 M0(O@D3/K>"6)D:;QZW_=?/KRYAZE$(FZ( 8^A]?BR.LGL;"UD92^G#V<93Z% M/]DA&ZTX4CR,PN1Q:-G569+OC3R$79!0C ,8DX\9: @_UF ;1D+B@FJP+=!= M@%M00C'JHGA(.T*X9R^.04R.;&>"\C((F$\>O%(13\R?-*Q;J1P*8:V]PB(; M*5V=Q9,^9W\F@M@BQE%\2SH$: P9['>(7CT)+U39$E2@#G:XN:-B>P,#"D3B M:04I3Z"[E#-%O"]B9!B"=>$!-:;$FP]6HA5&;7=)4B(K9R:E>+,ZG#BB!2]@ M+M@=& _R%PL,2.LQ!',XP V=P@@NF5?P[U?P$^B#)_CL3TX#]AC&WDR[3D37 ME&DG( I\#[(M3@WJ)((7.)GF0A9H1MO+V"@'PHA[V<;;]*@%;4M48KZ=!,XP M0V=#H)WBEM\=-E8VJ^W$B>T+\K. O&Q%?:[5GRS4@45F5!X4^EQ(R1X>4@,( M@C"V)N""D/?#D\' UX#TY'&O[_GX DY M'"8G+24ZTL!T"C#XV??^;2M<:YXSD,/0@U"1*X! M9;7:,WE TD'- N(XUSA$6PKHILP)U$\5;(D\M4"[#Q*O@3Y4V6'# F+S,E*C M%<%:@1 \"K1O;*)\-@'P" S,R+/1 M/">1)B:23ATYVU-^7U'JSJ#*4E-U 9W>..B2 O6C%:I#R0D#QT]K.WB&H6P_C9^GTEM MJ0B9)]?+,2ZQS75M$6)D:,9P."G7:#MO\8A0$LET"V6ZQTJLNR*/*Q*FB)P( M.L[>SK,'W-[/A21IN3R!C>4H?^'*1"RRE/ON %9BQ!((X H;>E@O;]/1=& & MG6I?*0V6-]K08@2)!9+,XT-4SC:G[0B9J2MQ+Z# H]!: HD@%K\%X7.0BTRA M7RQA0"" -X0XBC)P-/3XGK NA.@ R1)',*U^AAN)98_'/FAR*7WQP'F6;E5" MUK$IER3(Z8\2U24 H\P2N5Z2JS (G6P+ &!JU)A4 6.NC!Y[>G@RA9VL28D^ M,.D:I.C2U;Y-(F6-Q$-P3:P1['^(S@=.,$]1:;2W\?%O^9)CIM.PQE)_"S?>;,D.Z2 ^C>$.9!K&(J26YT1LS2\RFF[];7P4 MEH=FBY!NR,)=F!KC/MGRW$DWX_20?2&RKXR7] $I=21;I\DL8S7[R'9)X&F1 MBL71L[K!NK8DL^A ^U?/P8Q&=:!M+-;]9*(JI3FR)R*N5Q+52P+TMZ1=$UN^ MP!Q/K0E*FN;*P5?2WP$6]%PR4,A>U$R[&2X5N>1H^8D)Q3R4)9O%)LDHP[PO MI3(SQ]@CFP7U_QC-"S3UK!$ZYF-TE'UQZJUM;$XVEDS,1/QX X\)0TP>E*.= MA2).NGG2&"*;4"V3I(]:)9>0R[V>K9$S I%#@(OEP@,&U^XPC1G6&C5D&,2 MWV@ MGLT+@XU,M"N M313Q.8-8'B:C?N@7T:M?>/G+]S<7TP@NP7 >2GEZ>$ M4"FP7F4C'@QXJ5FXB5-=<2 FYXM* PA-#MUV?,#_Y'2A$*P0EWZ M%FS;?GHW"Y,Z0!SAB8NX#D)R"*-TH9_=R9#.JSHHTC,PI0V)!S*/+ #3T!>F MM/"2\0A'Q(8PD5,=0A47.)T;!&1E<32 MP-LM>(-(!)*4<%9";.1C>.(X0\3KQDDT1I<#7: PB=.S<&\<9P'D$7B(Z%OH[D^I7_,[ MIBZG_EK.6T)7 /R:/AU*R&N1Z,3(<"*EA:*CZ L_)^_FY(/#?8I\>Q2\4D=S M6GA*,+%O\SCU&('S^CHL$J[BTCR.;.374\2N#.*/\9Y5&-CY=&3P8X8A7K<: M ^3D!;!E3GW3\#R%WTOSF\M]:7FM- W0P>+T6)OXGB39.,)K!;4X>VX:/'00\4?'QV1K\/!IZ7@J)/,'IK:Q;A31Y-_L*I<- M>-P:)* E&9ZP *<@:&5P6$:0;"79M-",4.@H&.BY<7J>-_0 T_0(BH],NS]I MXS?2 5/JYCH1 @&B:,&P$2CPU"@ SO5"^C4[X>8X&9!X88T[+_THM:B\:>51;FN#P5(]2,4#-"K1CT MC:8LFR20IXM@1H7;")2Q1JFF3R)32:2C*4%IHL-&#ADY9.30 M+./JF>)?,CO>R^XBB$Q/D8'09Q3.RHZ>I.$S-Q'O&$5,=6,'5((M'(U8A$F5 MFGM-%UO"B4BTG,IRT]-2M) ";V G/-I^*&5"1!DI5H6P6.PI,ROY^ M8DB!]8\$7*GIFFSY*XXE822Z6_*/*3Z?LX"\Q"E;C@=F#4^L_V+!8Y1XUGOF M>@Y&EF_#LX;U:^R>T0UH^7-CNW.O=^MR\;CC!&N1B#"Z"'ZI[0TSSI@VR?:P ME[*1LLPV%WC7#\<-"P@R&6#V?R3$129'\!Y2%/KVV$,C%M7'[= +[(8\ND&M M\5]X=/-/_ >^^MYV['#F!0\27$Z#)_5Y0HE9K-#&;S+ 7PJ ZUX^ 0R8V'Z7'IN ML>E&_]K<^(Y^:V-@JWL&6(VGH'&T*P;V%FK[G36WMMAD?#J(\-U\Y+Y(_&!O MK7(=1%Q0K0YR+[8&K[(3-KND4.0,VO>V4=IQB^A76/>473W?HUJK1KR*62#Q^0BK,4LU\DU\#KH!)X>K-7 MV2MYY?&L+HSB057L2\%0XNO@K; Q_K@QT;2W2#3:^5WYZ5V:F,X>$T!$&$TR M&S]_P4X8^W3;,"A65HL1I7BSWWYD\J:=/,_S$2&,!>9N216V<:^*Z4Y?!2R8 M\5@\R.Z'D0N1>A3/H+.0E6K MADAO2X@7%&D*6T==G<"EI*RN"X_ B^RQ'7E]<4$8*)3'& 9U4,S ]&'DN\\@ M-4J%P@,355NM5GO7A6(?T@)'UKLG\HFS^=YN;(;3WM/J#Z(J+J6^;#JN'K*I M28'7+;/P"ZUZ$?U\4O>!D1/>"E^+V/&=+'Q?[>T=I%S-X<35<$)UPD7^%%4\ M(O-!=BA I0K>759$5+IZYAJ/.4DQ)RE'F?<"TZS*-'4_5(5%A*IJ)B!F]7I(',I=69"L.CMM(HN32+,PU,8 M%2L2984I"D+/9*\866=DG9%U4[*.C<9^.&'L5$DPU:I)C_MSVP'A[&D?TD2\F!4'2^G8IL/KS(#0,)7U4.:J20D4)&"ADI-"6%4M,J M;127.F'R*D2AO*^J)I89/&'T: >R_A<)KR>\??0HKA^"*89"*WV8[O!$,=[_ M2:NW43#9$U%2^#V0G1S2(JAX P@--PS0PK:H]F@<@8$HJ_5$+/V:QR WY8Z4 M7 5P/H$-"*N@TF]X$(+5\ #>MCH@E<$]C/?BFWV/HF4>;,/AZ?M&AAH9:F2H MD:&EQ2V>YK=G#1NP9L6?$GA%[ MLTU'$=;7 G&:,!IX/E8:D)?O5:$V(U.,3#$RQJ2ZQN[W,/BVR*W4ZC::#BB&%13*M-/]\8S LFBF&6QT'R08=8(A=Z_:8\% M[.L@B@_GNQ ]1GC"#88]'BWY3/V:%G>(;?Z-R_I6%%M52U2-'U@0A;XO8JU9 MK-:+F5B6"AV'N8X867>K?#(TUG?'8CFJ4IDXL/N;1I+P#V\UQ7V#R;5="+[UQ%L]A?(+K7I1%NB- M2LBY#TX_RH2<19FAU=[Q02:&?B[<0TSSJ*CB8_'*9,DMR0#6.!T3+[_84K@? MQE53*I_*(I9FB]DT@1LECZ(:?A*XN4L?A?2TZ6PTH5H]>,+U1+%,*1;<5=/& MYE2 $S(J4Q.9FE0U3*9V 5K'I?,"L!/"U&.6:V!/SWFYN/XF(%+6=HBV*,:?FIDE,+4KNBV9,\ M.0&@]JGC0=B/94U085^DYQQB7-@<:E*A)62!OX27WW!X/YU(J+K"Y'N)90V8 M"X'-=+V4SDQW=WUU^\P+8M#]'M7[!?C*>QJ@>6#,?ZM+IWI?0U>K=PI+'B28 M^SA@63%4$5J5I%^ZHT_9A:1G89V(VTCY7I)8)45]. MVH@J;T\>^=VFBJC$^XP&;X@&J[V=7>N[136<*^==_LY$>%)X@B!4P5LZ]#U8*D"+,B\I$UQ- M:+O>\:[*3&0)X)DL%B6"\U6HY;4[E,HKW1[;W\ZR<>\'5IA$N9:-FDK(WRW6 MM0]65AMB4CQBV@YF0X14O$R;ER\HNX5&G%&>5E!9+D]5E<7-O*^T+9'RD"GR M8/O9I=J<#SPK;7]K2FEN7>;:29F="=IR^%1N_[^O5*ID?\R,PIGS>JP591%R9SUVX@THHN?8U&D!E81JOH9AVB'&]T32JA;KZ+R\_B):=83"[0QJ$H:0S.\B.U;:"F"I$WTF<2Q"(> M5KY>H<6"5K,A#>G!N $V(5<1/@SD@L-C1Z+Q &!5^)3*[R:O,6L>[T_$S0/, MY7UBA6<;.KA(:)<%$E4PD'HSE,R&?JT>(,Y6E[6PWRX%"$6C6L_BBNJG_:>3 MJJD!\PR">1:= )'8J<M?K7(Q%'WM8V'6;>]\DTE@$>5 M68T2C+A>ORAF/X/TS$ZSJ %%Z@1EC+^P&EI:3HZ7B(QL5K#&12H/38O*$2:D MJB="AF3]<=[X-BSRP<&:]%R]-HZPJ.&C-0K=7//R==<$^A74J".U9R; M7E;NM,_Q0UJE[$:/:TI%6FFM)@P78RQ. " 0"A['G;F#O)@D6 E3 EPI7V!' MQI55/QN\;S,;]0M=>'A/1,&9NNHBO;>92P1C)Y'MQ=A@P,35'(2Z4O(RI*A1 M4Q@-F$+DVM[X<[7^!$46+1F(56<&$O&&A)ZE<>-FF\;RTS^C'K,T?6@28N_CL M<5;6NC0/$!&DY9AJ+4YC5<;CP@P9?0NZQ286C3$!ZC%I^Y-_RX:+GM(V(I&+ MB\RH9VPDR"TW? ZT)^3U.-P?]1L*^^!9,@Q E#QC"]DDS"$/@]!T)B]AKA_. MYF65K$^EQLN]F1IF(G1 ME6DSE5Y&L'.E8R<:6CE.WG":ZI?9S:Y@'M6/SY= MJ9PYVP?'5*?LUG/II-@<3V3120L74\T\6?@&:-S'70[LIS 2Y(O' K"5/\26 M<^,W]" 3(>L4<27 FRX?HV+]=+&NJM.LZHP6SP)*@%>/>,Q+G%74TZJJB$F+ MD]YDU<8_1F$08B\A@9]3ZQ/#BJX@FFY<<$@+E>=WNMNK;:C$J[->"<8.(QQ" MW1C #,FZ,=QY>*D'U:B&TH<8Q+:-2NM-"/\29N7-PQM0#9QC:FSILU_&(GX- M#]\\?&E8OX5G--%IJSU3;-M -*X@'-63&=Y%_>M/1!J1TM1IZ0O222+J($[5 M57D@/(,%R2M#-FFV4JXE:+YT,X4,LJ+0,*Z=JS$=8^E%T0]0;P5H#V(JA;]R M-$#;K13CE$B..Z/=QJ"49JQ!K(Y"")S"&'1Q7I3Q3XVGZ47."UHTA*K0)TMU MV(PNJ05T3/ 0&R<6^*(S&_SQ,0&YC>,![&\>;JW/X=ASK(O69:[P+H%?UDHI M7037=ZTV36\*\B/;4B2XT5 SX5X"3[EPS+'K%_+&I16@0FQ$:J<4X"H)\>/$ M,U*IM6@CJ6,Y9;YWS8SD12^69AE/KCZFS.&DX%]9E MQW'D]9-8F=G9>G[@/Q*,,_Z9IB6R#GT@7'>B+.6 S.&5>3Y2,3+*2L0X5Q"@ M?56TUKDT*L5IGOI.-J>.A]@N?>:;?08"F9(R!'^\!5TUZL,?K1X5]>\)G@*S M'$UK5P94/>JR.?+B>,ZVTK1XH?6RC<$ _P#GQP8;+M<]@>A'34'T!"^DK*/R M4*F A3S7=.*Y7R9\71IE#1ZP(2UA,<@$O" O1\F<>KBV!AL3\0!1R)R@?7^C:H1C&WQ<6'0 M"?)CFL107Q*%)?'_FKV MO!30&@&1?BS,6 X2)$-)@M3PLTP.2QFJ%UU<1@BGKRV4O>7I'BN*XIO4H$*S MC?GR+A4-('"2J1_9MOF'UH]4]G\L]BPL3PS7Z#?3\HT.*/->E/V!QT>AZPV\ MG-&503 UBG]H_P@:*=8GFMF92EL.%J\,!*$+HJ/64UBBWP\Y'1/E B>Q]KRE MXQ5,$L;+$ZX M0"8XD3?6KT26:"&+#M; A !#7)AVV=4R=5 U RHYZ$W!93F0Y--\M,<&,\%. M6_T3;P"HG>JI-4(69SC/W(L,FG/V-==TR%/EM"&QLAV14NU>[8EJ:.:CB\?< MD\E1[J@WXWM9[8,ZP +NGS:NTTCJJ*9&2D?+R0-Q.UM6[:MM%MZ13'2^+ M*"A[<7:G,IR<)Z!1.5.] K.&=N2DRO1!35"B4U\6_[DE+>C80B)3%.BV(7W_ M^:!2F63]+FYGRRYG*E39'MSG%J1[&!@5R*(Z5-R^E MZN:2J,%H36(9)()M"*LAC#Q8,Z([#PAXM[CY\AZ!) [PW"_KIC4# ^>GS4N% M 0?KFP\\R:4>EI= ?A1&2"HB1/H7FFZPP"= 60)D_Y@Z46YVIW,%IER MEZ4NRSNK2E1Q#)R.5(F]A4:+EA1A=.$^XB&I_%FD#EMI0(2.G6/1BI0NON/E M:>T,-6^Y8A$-)/<^5BDCP2[IE:5!DUAU\L5[R]A-&*G$#9-^+"UZ\![U>MT% M)SL;6;1*%#U";>LQ)'L_Q-YQPG'0^DZJRX>#,(P#[!J7N2SE#/DP>VW"R5UK M512GYRKIP0?0!/GC:XR BA9S>GJ#% +VXR/>)A 2FJY\R-"T1ZF5T^%JZ8ZK M$'42J$#SB#&10ZJWZ;1)ODU45H*+S=R%N$^U3.9EN^GD,YQ-H?,E:?V BB@J M))7TU<\_S@R,:.18'IB;2RKZ.;\XZU"N-9>)'W1EE3:ODS@54T$202F. )3P MC[V1*I2,2)8A,XV29"8MB.VTW@'J:+WVO!I+$:+R6;UHD;\C#( M3P1K<<59BEI'6?OA?)91G_EX\,-35A2)(;0KY'N,>;A2Z#W+XA*S)!^RY'*B MI!281JGNYUS?GRQETK<*'N;TJ2W5%6$V"A,5D4_3D,K/.H6AJ"4KI6.EN56Y M@VXYNO;"K%18D5Q57IE$Y5VEIZH )D>=&' 0MS.R9Z/2'T3&%B;6HYOP75T? M"##0ATYA./#P:B)B?IFC33<4!5Q4)D,AJ0[870+!E=L9861I+[.8=!7HWX;YO+A"=5B^>*4EF<=TPQ%$(_9Q1M@O",W+ MXQ)%!K@J;=90.W">VD0IH:"**,-IZ3)^*T.^QPOW,#CS?1D(=[++F"%>HK0I MF1#+K^$"5'V?AB @$5R'D5'],K"/Q+FZ2#ZD]:K"@ VJC!IRK,M#AB(&G%%7 MSG;>M1[ .H/BA9= Q)B%YM1I)(WV:;8B.@9*=S';4CO+91TO M'Q#8T,U?Z,'G>A;E7*@ZZ_##,47N6#^B4ZKR^-8JMG-AAK[M?'N,L$[;J;"J MK;_(X\O!] -G<-KZH*M)K5!5!:!Z_%LUDTA-*_4E.8TR/@PK%D/Z MGC+EQ8$M%0\\#0>GB:ID).P]5*/TQFQ!BIO.4ON*[MY*XN]RKB05@5U]P$8F MZS2_;G%2%BXY=:M&&'72A*E0B79V?#_K?%F8A'@55B V,VHUF2O%; Y(Y,7Z M_O01PA;#K\+'(\.Q G"4\VT"6>$!#1<]&6*Y\^ M5)92C?%4E71=2LG_9#+XQ"G:I+%&RHPJ#T/P$AW%B)M!L?T][=RJTEBC> !L MQ&6\3K_J L-@F%![B2Y0YF]#RX=2FF[@U>JA*M:%*;^PAG@B9))V.*02B-** MQCBOSG!TPX:=JM3D[.YV%L<,'>#CEQ"I\XW3[8G4ZDFH0R]]0G_);@7XM]9+ M1.SF%!M 7#?_)ALUG)*.Q\\G.1#DC1]8R,\G+=GIHF@?;65B_75+__#3JX2? M/MKV^/H-7BC\,/@H]"(ITIO ?0 GDE()@CC+-/@(-." T/H,HO>-'SK??OG? M_V%9/ZF1;FT^A%?Q7^^ FX'ZD#1NXEM95.=?Y.93Q/Q[_(D-?CZYX5\_#+ZV MVE\[K:\8Q#ZANA;TTQ?XH]4^L5SF>"/;YS^?G'9.?FGWSB_/6T KV?J7FG4[ M"^W(=?86KK-S==7JGN]KG2E %R^TW6GN<:$*H.>+ =KJTC)WL1\&;"+"I'?@,_'WI##2G].IWTS>9S&8NX@B3,XD M-U3ZK/8D_\10 \!NQ<"+\=WN7E[VEH!C"5#J \OTS__R6(3FV>17O(Q=#L[[ M8)S$G!YH&?3DV++.E-X!*+:7D1AU!F5M"7W7V"%399(:*CG,O$U$!M;7UE>) MF\^AIHI^D796:C-M8'-M8BM6-]T984V>#OVA0=V<.^^U38G*%!*53H9 5O[D MU/< /Z("B*A5)I-WTQS*4*^*/L)K*ABJ3'L^J<3*<0+BQ>;RWFW$F#6"Y0RY MZ%G%563 09)@&4F4GU8K BH^G<8D^G;P#43&2*3GC$.N0A$CE(VJX,<@$0G: M=BSWAV>%\)LG_&%,#Q;YT"*]1@[4T$O7C.TQU:9UK2]G#V?6(Q::"\1ML;+O M'E$G;TLTG<"S'9$VK!.6!?>2E=4U!/>C^PF^QP(5-G1DFM M0YG/C!;4#WVWE%1;K3-+@WT86!KPC:+:YPV<7CYO+G>KTY[?,L]Z&-K16%32 MP_];;\/A"(>*QF<-O-R;]$$#>GCRB=EZ]$KV\&T(#]T'SAEE(-&O#4H.%M4< MX'WJ3IE+5A8Q5>9CRB<.R^T!DR=Y;("ZQ:&IM":!?L*M?[[[G\^?OKR]D7FH M-^]>HSZ2'2:E H:YQC[&GQ_%[9,^YJU0J1-':J3\\R$>%=B!?*"\CQ@ULBI4 M6?%X!LI"H3@M3=MGZOKEDT>YH=F.>)RXD_3:(D^30]-BV9A]E-9(S_"G]8E= M=.L21A3(HL,.%%'MZ!$PO&\W-*T7^6FQ^A_;9Y= M;GP4#X+#%Q=YBRC2>OO(?%K 54,4@\.#KRTL?],ANMO;/D^[@%*"67\RIZ_G M33R%X"T XVIKFY%Y?"DGB&J+M"^-#_1BC.( ,+NSSO5W5FG^.L\$/F1C<.70&*7<N \__^22.$G:RZMG JRU.-"^VO_P\!VLF M6^K_9)'I)IIU^H)&VD(SNCFKM);"F @$Z3A;STRM"$ .T_C6#1^18E;(L=]4 MCUPT&U?-YL;:B(-5!_;? *^E84DAM+!!38QM4O9CP%XT)ZCQX,:6;ZE%G6C8H*AJ*63B#(SJO*K+*$OHG'P#&S2 M0P-$*-2GT',M%3'#0SY9AD._OB_KQTKHS(D3BKJ]*7"G8H/Y%6 MXD&)0CTY65M!([MGQKYC!JH]$N$"%>5[DM?.]/8!XC QU\Y*WKJ7,D!_6!4V M$VZ.L54\=Q52-U#K^D?2$4@Z1C M:Z70!RD4EER@:,V1+5-V(Q-%ID7".?:E$&4&Y-!:,XLT4(UGY<0_I6?7UHW/ MPP8>\NO[SGB)NM )GIH!#*IE0NGO@^GEXZV&K&^-]*GR *2D/V (:&9,];] M"EP4"KDV1;*<#T_Z?T@GWB>4C3.4"=GCVQY6\HH\+BJ_3;7D#0-1@D3=N]>. M^G1S2PX$=@PN/8GSAM?8CEG:19JD%QTLR(M3893)^K&TVU7%'(_Y;NX,+M3[ M2V@">1 Z"5_N'@T5BB U(XHT8)P,-O28&1AI16I5T$4&/">TCNA)-"\".\[C M0]4E,C^*N@?JS;^Y=]!''JL$^JAC:"S+- MB\<0EWI*ZOUO=R>_-,^:S68KO]H%,VYCB3,/2G:[0OJ5WR3Q,(RHFN4JP)M: M6:LI_U.ZN.)]S#VU[^J'M8EB<=B][S?/BNF;-O)TE%LZ5%R[QJGEY MOO82@R=,7.[[["WKQR47(/A2%TU^!3,-_3<W-J[: M4Q)UX6IG;N\WK'OXT9[(\DP;L$>KW>JT>[,6IL^S[F*6QWVKW0%)MLY:.)## MW\/0Y0^A[VZ3'"^*I)B;:>XR;D9XSO=OU:QJ:TOJGA'7'"P62L5R4HI[U.C<9E%;&8B$"^^C0^! M]<#&L3A?:U\U9(EIC$EBC!-;2%$I/(SZ8I_=&%S^<0).LX/)'BRBGHJZ&R^+ M]3%9](-C>')+N0.PM+/.]HY/55%FK?J[..G Q4[1YJRR]" F_D@"+=A"*<^V MG_8[G!HI#R\,>&P#-%L\6$YKS\0JUB3JU^ 9GSCAXVQL1PBZ6WL\9GBOT/>/ M+(I;#?;]7$9@5A\/SZFJ#:-FEV1W=EE771'VSG1)5Y/;(@["3SCO](^3>@7 MP9)1TXO.<.&HK_5"=]2-QQ4':UCYT^/\DZHTTIP(9Q&7M->1;$86Z)!H-]OP MSR2@RYRJI*4$B8C(1DQ= DWSOB-5,4A(*B\21T:E"_I(75WDR1*5*]6+MZIC MWO2S:T\L;S1BKB=2%,>87DXNO9:*ATLNE8JE2*62['1>2)5D'5$]2:B3] K) M4YK5ZHK[&FF7&965Q:D(6\(1#GWFA\]I-U%9$9VPAM(X!D:UL'B./W_3G&&F MO,6=(7,3GU$E6MKJ;"!0W59U6Q?3ZF<2@>I+(R!!"1)44G>F1L& ^';30__: MZ9VU-M>U8R;+HMR\VSW!=49C@EC?/RFHTMY"< MNYQ=8W(2]Z.VBS0O^JK\D3;?_",1U__ES7X43"B*24 M(Q&UD[VL)Q->BQ3G M>8TI^US0+_B>GDM5[L6-QHDJ,DT:,?UUUIVI5(B.=Z0\AN!C8L4$/"Z5JD(J MLFFQ:*N?5.$\4B=IMN<@Q!Q=TAA>Y"0CC L[C%\?+$-H<85GSXV',$[S;VD$ M0E1=G_K]]0D0EN^/,4,1("WW&''_Y.1T@2O]R\^,0IZ7/C4M^S/;6U!_5 M#CIC5QO]B:JF_WP2A^,32_Z-,9*3_-!6ZQ+L51C04J"T)"SS0$]7M"X.-3+( M1I["9Y%8,EPN.Z^4[#^T?IQ"=PF^\S#+0:8Y!R'X6_;7BIC)(4-'TPL ?#7^ MR3>9H5&D 4EQ#*P5X8(?A3=<8K*L*0M*[[O'II^2J0\@;(I9RUWK!Y2HHA6Q MF(<2.HM#_-C C"PE->DQC"84+,!%9@BE,XCRU/$F]D@)D-J;6"8EX^FV,[=^ M4-W&L.>(2+L%8SO!?+$?%=QL:=IO:">6K*6S[;UIR\_O,R,4NGB :-)]"(GH MGE"C&19D'Y![\$C]0F7YWNWNL=79*")0!C6Y^VD'*!")C;*(..5@ M9T![/;6*4B'U*M-3KTCG%4/PRUQZ['6G+CVV+HT18(R %S0"VL8(V*$1@ )H MNV)M $I@RX(RYS])I2BL$[1AMCM9S(*748YR(PW5=4GO=J1^RFD\]:Y0$AM& M8$H6NG$\IFSS9=&9\N@>VG*D]DH,A&G84*]"4>!O^[K^ZG)'JE[=-0@W-WW5 M[:*IH*(T'LCJULT&H#-C.1C+X8@LAXZQ''9A.M"NJDND=2?:C6[*_R#:TR0U><&8F;C6=$L_C.-P5- H%^VSR_;?7LO)0:Y=M\9X M,A,PZR]OK_"_EOJ19ISYJQA]]N\B0W#ZYZ'(U&L)O2;!5E0\&U-,?A8LJC( M'KH>>BXP=)E*D/.N0% +Z"E/2SE]MCRVFNVS3M-@:S:V\K#?&-RML^ZY ?>+ M@?OJK&6H^^7 ;82)$2:'"VXC3 QUUQ'827:YOP MZ9L';<+O$36M]N92"-8,OC1 MW>R -#@+F^;!Z@ N25#;"\&:0H]T5:O1,JK%J!:#FB50,_^O=1"7 MJJVV45O[5EMX=&&XSW"?X;X]<=^Y,0F/@?L.U=R\O7WW[N[N18S]#Q M2J*LPCV5&G <:O %$;:%"$?MY%S-^.&O.R#Z?1\VS,;*&F!N:1%T.6,G;U'0 MEZ]/8!'/D3W^^43\.TV#T;)D!GYHQ]>4/9="6^:(M1J]]KF1-$;25!*\1M(< ME*1I7AE6,!'G]:!?%W&3J[09#BR7]6,J-(2W>0[0TJ\X[==#M!P$$/>M%*NK M^MJ-9KV-[(.@3\/DALEWRN2=5L_0I[%BJ^M#[,R^30O&.2&/\P6[#\/*K:WO MMS?1L_&!ZR'!=P=:HS.Z!LZW5ST M/N!QE&"%5JW\VVU:G/0C5C=MO5"'X%R+^O;)+]3F*;^GI9:[\BX_X3%":X6F MJEO<](6^Z>[)+[(UU$K;%NM?_@72-)^]0^'QD MT2WL#3N,1X\L)HK;!C9:^\ &; ;OP=F/[,. 2(WV_1FD[*/H4GC ##!/_(#, M;8$#M0I"YH)R5;Q4@S7V@(5NH5MX>R4<;, )U8!X-831/)S<_W9W\DMO!TBY MLQUV(TKL3QM95U_;5PCP[A:WE6M,?]I#6FMUR"^%,-+S0UHJF5/.LV9F]K7D+WNI&.\WZ;'3 HHBY]X$3CMAG^_L[$;@E(^!=35)\;>^[$MU1!O8QG6VVY M@-[\!71 GLQ?@)QCS74L"0=81J=SWMYT';^%@;,-D+0O+^6>MQ:1^-VJZ$1(S<I!& C:( M)&P2 9ES+$GU\:="0OD6(YW>5F*XRX2)R@M29 .=E_:.)4/PE/!EZ2B=$US: M&FSVUE]@XS8)VW[X)LE&/-;*] -L2V;[$_$^R![FA8MF#$0&]9 M3!T1/K][N/GTH6&!WCK#Q@=MZ\,H\/H)QV]@A]@WZB.\F':*HF>*OY6-U+2( MWN:,TUQJG)X%(NKTW6CLAQ/&K+=>Q)P8!EDT>B][5/RDFA9-;SD=7(SY,8F< M(7!)R<;?/7S\>+8F(1GRW^*^/@2B:W6VO_8%M?!H"RJB/E6JD76^KQ6VMHS" M)^;.IF?1]VQHNU:?,>R,R9Z\,.$^O.N&8^PVTI^(YMJA'5&/5%?26GG7[B_8 MM88-!O (3"*ZNI,X$5\==J=-N7C=Y%:].!+(Y&",$S MUZ)L["><]A(DU"(8FP25/VD_V9Y/;4YP>V*_Q:NF'GTKEJ;*%R*A+=F76SC* : M ?B$)\#HF:P%&\DY*YZ,&;]6;$Q1<*[L(GRW#[K/HR;R7CIP[F'17#Y P24: M\^5^?:VV-\:6ZYYP4,@MAY\PS!=Y3JQ>FOZ&8AX<>T8^>6"(NN3O/&'+]C@= M95G$1YU$9\FG+3E?3UHRCX7-%4-9\&2C]C 9T2N M7C /^[@7,4Y EP1M0>'P+SHB0=H)P1"Q!5VB!8XS1FP(KZ$(!)KCY#K87#(D M-]UH7Z@;;=MTHS7=: VV3(N]@P3WONM-'1FXC3 QPN1PP6V$B:'N.H*[<#NP MGE;]P?3F.3P3OJ:=-!5P33?:ZC06,]UHZ\5#1K48U6)0L[1XVTF+OBD]9AID M[AW1ICVM84?#CE5B1].OMHIX,QULU\9TS0K_?V*V)^.,;L@./0 MDO6HPUM;J56 ^_/;8L!Y90%49T-BWW9$7>#S&_-\GTUS@>'3M:D&HNM#X M3L];]MZVI[HJM-UH-4V/ 2,FC)@P8F*.F.@U>E?MBE'X(8F)@["GZ^_8B\Y= M?,$EO@,TMFOKB.Y%^JS11:;^O%&#H-=6\5)=9=QI7+6;1MH8:5-1 !MI% MCT#SPY?:-OYT[8$7X3GEL7RJYO)!%)/9!BP.#:5[+^'R.5>_2%0*&4>,4\T5 MV^+)"/8PF5NY1Z\89-E8@!"+:..IC:I[Z@54/PX?6+<(2PVI8(]562Z;9\WF MMHNRG%^=];KF,FU=BK*TSLY-"9TYV-JN&]1J$\<9<+_8Q7Y#W0;)5[WXQ2-]3L\^YHM35,I:X=OL0AB6&<@V"<8\;D MSMG$2"4CE8Q4,B;UWA%M3&JC3ZH$7*-/CH&6]UKMI[YTO0M5_CO]S-Q3&SM# M/^XB"=HPBPDQ&GO(L(6QAXP]5'%P&WNH3G2]"WM(]0G,D$C-_;2/+#+*H"H, M9&PD8R,=*&IJ:2.92KHYWGB@=KR&+ZK&%Z;:='5XA!HF&Q;9NU9?_LC/'.K5 M[MKMAR3FL1VXU+H]MMXRAXWZX,CD&@7MJ U#!1FQ9M@[MORXRM^=[C4N+RX; MG=Z&I9..F2^.,219,[&S@UH-1MJL4Q>F!T SK&#"BR]2(L]2_R? [4OV_#VR MP4EU#] AOV:CMFGCAV [669NBM'6#URH,T0XTBJ$)F9&5LRHNK1J_3 MJK5-67$Q;H!XS&+A4(*15V=7/4/?QM:KKJ6]@S3*]W;D#*=R*,\/T"JL/^KJ MI!B.I /-1:-Y?M'H]3J&,XS=64GPFBS*PY$VG?.SSI5AA1KJX(,P?@\<1_5@ MH4-0R7L7_AO-UM6%X8RJ&CI'#EX36SP<:=.Z-+'%>NK@@[![ZX(C9=T&KL6^ MCYF#'^+0>H*OYYB\U@_VCP=H]M8%:0=NW%97J9PW>NV+1N^\UJ4_C*%:$R : M<[1N\J'3.^MV#5E75@,63$OQT0;=5$2D^K5LS[BH4]7/>CM V!X$TFV-]4]R M5_CG,%*32%*0E/=:_+O=^UO:JQNF$IX'*NYI?X2^/;$D/>?Y81C-@JC&2%*< M@#!)7R1D3/\.T^#M'DF=/Y\TQ6<^MAWY.1T@G1AX+<];*>1TO&:_94#./2D MJ1%2@8^!2?,PR(]L@1]*+<\MA5-+(C6/_71!.>IJ;4!=&L6>Y#E"I[19=+W> MS#2QF&[*1<@8<)SG/W==C*V-NQRZ=$3N R6K\7[&>L1].,KGH<>MB(TCQED0 M,BM(L):L%0[(DP.?+AS'7AAPR^;X);EUEO+F&M;83XKO)4'AS6GWL'2H MOLWQI8"&FQI$N93:"[;[1T+/#,*(7H(WO)$MOQDP+TXB9D7PQ=D,65] \*M, M!JPNW*LORV>>]WJ!"_B_[ISO:QLWT\@%? +RGH%4[/$X"K\38OV)-87)5'\@2R3@.8]L'>HV8$SX&\!Q6I!^-6"[T_+/& M@)_0Q:5MNLTYMM**(W7.6M59S(39$3^SUN28>O+Y"ZT:?[KV@"$\IW0?GX#T M(X^4P0.1_Y? BWFU]W20$O )IY1(+Q^F"Q M7NJHO"YX*@N\$F5IBO8>J6L@/2^PY7Q[S-FU^N.U\AFPQPE,)N E7/WIS:]Z M)G+1W7-P09G0PB':5:@A/PLJV@'PQ_70_/_VCYN]VW &MP:OC6XK5QK6X-G'<^_%XY9=L"K^S9&#QZ' M>TPK-[:ML6UKP7>[3\ UYN:+@MM0]Y;!;8RRRBCT1VPLF6'0M6.6?1K87F2L MM/HAU5AIQDHS>FS?9L,.K+35NB94"MZ[D',/0SMBW'!*]3EEKQ:?X9HL>A(8^C0DMM(X25KUITWFR ?6"88EVF.,8X;,UDSFXJ M4NPWW[*.HJ9W?K:9I*F@/5T/27,0!N_:76*O*F?7_AW/'\"6/4 3M2Y*X: - MT>KJ@.YELW&U:9?(PZ?P@[*6KH':$76/^APT/;E]IBKDGK=*ES$H-(EW2-)3JE'1./( MP%M-/CEH^_? *@!VEP5YP5:I)[NF[,9-L1 MDA\ZC8MF\T=#D$=N?QYD%]>]6X;5CHQNU()LW[9:Q;G^("PRDSC*7[JW[C$[ M0%4/-&S;:CR2WKJ]SD6C7>^#_-H&!@QX3>+H,26.=KMG%^TZF[6UE30%@U=\ M/-(.-_E&2#O?5,ET+]/]9O'$?VU=K=8+9_&0>F>.(^G"WS=B_P./9W:C.T+V MZ&ZY>KHC7*ZJV9KM:M=;=L_$?*J 2,CB%D6J"=(NS:]_,Q/@591UHR22PIG3 M6Y9$ HF\/$@D@$SH.P PMBWN/<%D,SW6*/&GUXK8O'_X_+E9(VYDB9O?@0!_ M=?D:^*=KH"A;!G,-]O3D\R? HS+J9G6O!W@9;]]F#+K/3K7R #UG@)LR]#$% MG#/&G+L8%>'^LZJ 9PL1,M<$^ M]_"M V(2_S2D3W""71AA/ZL8"_+22,WPV M=[P%QYY]?##U^95R0!87H-:$Z"(<"]NRF6_S-+@E?]T6%@#NZVRN+ M[7*"P1+WS\QVJ&A/FLV% WL7^E1/"9@43'W.#9!:, 66@BY:V0$/J#!2/-W' M))+E:B^ M5(S*V<'!"'Z^Z*CS(L5KX3T[3K]NI#_\]2^AN'QB;/[FG2U,QQ.AS^\G=RDF M?9%,O .?4%!.G+?(Q\]L,<-B9(\PE[QU@+V__.=_&,9?H\;>,Q]]/_&9^]$[ MMGGK6N]L)PQ("B[.0E_XY.<+,$KJZ&L'_H>6]_71^]K[VI,?+BB43 ]B,;K. MZ *@S 03<@0F?/GELG/5:R>C6--Q>50.TU0.UU+9O>IV2Z(R9ODV]/VBE"96 M@#T4:!_%?V5[@UR1[.[&$;V3XA0HZ<5%T83R&P^,7STA<$UC/"SEM]G8)ZL( M$YKI:9)UT01G*<-V06Q.)+;(>4/IP;1NF,PQ0SEQC'&^?[8Q=)2\ Y,X+#W( MX0#O*^WZ34%YN"_P-?0#EA:^21'F=)_@;(6!"( ^[,9*7!2Y3H:%MQU,X1$T M=_#;N+3S);>3_Q':S\Q!4"Y4U<=5GN'<"^ EFSG.0C((9D%%6;3HMUW3"2V> M(317'S=\?2M0ND)JO.2C(?_".44;X%5?1/5ZB4S\)K#QD=^ .GP;9!.-7_K' M8[YR_-07ON&Y,"9%/%:WI-8C^:H."W5"*L/+E-,KMF_PR03\ U2/B$7'K%![ MLYL)W#3,D%^OBCKS0EDEG05@>B ^_ET)?N)[L^U$WP([Y&H5!M*'19E]&=N& MTH4?2)^\4("VB1_?-%4=3E@N=72(:JG#FZN.KI8:*\4>&WA'.3;0O>J,M+16 M2ZOT0W]#S>ZCL5MKM];NYK*[W;GJZ&JI9; [=SZ@GGZ/3IY?V6G@A*(I-0%X M3R< /W6NZ$?:5_LD]]7>)_MJV2/@!["A4T\V-;4A/;7HJ46+IAKU9(^^>-%S M5T:X!TIGKTU0FZ VP8U-\#!W YOA')Y.;D>PP::ZHC6[CG6_:I._PE-CZ6]K:"[IW5>Z_QK.G_=:@]'#?.O:GGSLYX^3UUP94VZDAKZ M-W7A?*T1O;JXW1E603F;#AM:>0^5VJ;.+H=V+)KNUI6!'0_K;SPLW7:HL!]2 M3T$>(55F]?8%=!9U;2C:4)H0G>GN63=:AV;.UX.JBY_4Z#-06@BKH+\8O ^5 M +:Z$-]OC=I[K8:UBFL5K[:*7[>&W3WS&.N 3P5SB&9/$VULDNM./\=CJ$EN M@H^N\<#G :<,'[@ZS:8-HW1A5E%F"YEA8^Y[S[;%,4>%"0\P^%?804BI"@0E M-J/\!4NI,M(9.>:^[9KVG#DJ%\+*=!K02^"ETM>M3!J72;#! H-AN@6+3RCO M6HH8GP7%"=<>N.S2&+2,I.F[9?!=RVW\Z;6LC^NC:+O,%$3NNY]:) &T?Y0' M,-AVX8L92:=PW!\IR/=_H6M2K@G,X$)05OGKB+O[5"D\LT-5'^&)4:Q7,IV=M:5ZN95% MA'Q6E#4)='06"UH2'X(:4GI%9Q'E1EIC.%-,S8QJ9)ND1J"%@<.7,'0,_H;, M!A,A;!%6DK*V8KST*>LC0./8=N-4,D3YB[ ],P.9_BD)+HXRZ=I@L,##'46K4W[?K$!?##] MY9AODU<)'O5F/)U>9QP&]%(^J8[JN6 PU/4XDP5J^XZ-4,0)0'W.1.@OU.PV MX\'4LU;F>MY;TU$)) D3^PD56A$O\^>PL0<\\'FA!=FR(HL9M+/1 MD=*_8W)/D.N_>/ EG1(^R2YY*[[>3Y)TDE]5[U^IO'SSJ3-J.I.3EN1+]U@ MXW'*7*EQ8@^L>)W!Z_"BQ>:!X<08!X> *+\Z".F+!6/Z!HT+-MO1:(UKV:23"WNT3%3GFIA M@&0"2P!8B>)"E.1,3KF32%JZ:4E%@)F2/ 93)J BRM^6WM0[;LKP428%?38- M/WT%[+--%G#I)J;:F=K@],'CB\B)PZ_E0&QW#@Z= 7QELQ'SEE\PMR6G?8ADEOV;J[Z.L-9K!9[[!@=:V-:IR)]15HE MGSZZOKHY:7VZ\V*WUNYC9UOLE5E@5[-[73WCODYNJ<&DH>S68')4=@^OKK7; MKL&DH>S68')D,&GK98X&DX:R6X.)!I/FLKM]U=?:70:[<\>AZQE-KUOFUN/F MM:Y::H(ZI'NO1Z"\4NE2#\YNKHC,ZJ?V MENHV/V^>67T;6575U3J-959$EN^X,'V;CJ9I[ZOJPCIA28,#N'IZ1LP(]RUS M\,I?ZE+DE/,@^7CG,"'L"9[HT\9Z[L8:^[)=[6M!T+%S;H[9';8^5$/2O M_)D[B3P[VC2U:6K3K(2@=;1X M1R&=9QVS$V83^35V0JU'>;G:1J5W9&\]<%^K\[EYB$UB;P5CTQHM:L'O2K)7 MH\6Y1:@U6M2"WY5DKT:+&_@148X57_QL/C DHRW*5WOI/G'411MW22C12"'=1)552%6UVRMR*R^@JQ>?S7^^ MD/]>1&Q+%2F;.!X+WN#8XE^C,GW=;K\U&@TT/FA\.%]\.$!$6^.#Q@>-#XW! MA]*C4@=EO@%(8+3E?^4$HLJ0C)'+$T'5J5_DO%2YZ*"9QAN--\W"FY(C\1IO--YHO*D @ZN+-Z7&V4XIEW,/ MP6D$TPBF$:S.M-4>IXS', M#T%S>T>BUQT +Z8ZM8!1D6N$JW@%0U(R3.XX2L5^OFA?T&X55EU;#MJ7.B]U:NX_+[E-?_CTS=I\Z M+=&9L5N#B0:3YK+[U%F+SHS=&DPTF#27W:=.4W)F[-9@HL&DN>S68')4=I]Z MEZ4Q[,[MNM0SFEZW&L"EE/RMQZQ;TUH6]0B45ZI^^5E>WZB3+@/-8LZ NYW. MQ=KIM5TVI[>[N5HIS3Y$G?=/S#>GB0Q[G9;1;7>&YW$@I=*3\QK![3A;5]7/ M.HU95D26[[@P?7L>V)ZK7:^J"RMW@F_U7Z5+\A!^GIX.,\)]RQSFFCR1XL.4 M\R#Y>.R);3)MK&=OK+$CV]5^[*D%30DHM#UJ>]3V6 E!_\J?N9/(LZ-- M4YNF-LU*"#IGFEUMFMHTM6E60M YT^SI,&R-3+,)8=BZB++RQ6?.>0K4&]X[ M3$0Z7>%9JO+)ST?-><2DZY$3 MLK91:5U&IQ;\KB1[*^@A-HF]%8Q-:[2H!;\KR5Z-%N<6H=9H40M^5Y*]&BW. M+?ZDT:(6_*XD>S5::+1H$%I4,%Y=#W5N1,2ZLG'I7!CZ$U"],("0;SPP)J L M32SL7A=AU"VM1".%<,?$U&"N99CX!_\CM(&OW VT851THCV W[C=A;6Z:'8- MJKUOS_P=N'FD$LN]=KO5[K8U/FA\.%]\.$!$6^.#Q@>-#XW!A]*C4@=E?C4+ M#O]WL^ND:YC1,*-AIO$P<^J(><5AIA%Q\=)V)2+KD"P]E4500DJ#T5GN!DZ\ MM=U#JD=(_-RV1+4ZU\G#!'H-RPO'#M\G=5O5[^G4+T9>JEQT>$SCC<:;9N%- MR3%WC3<:;S3>5(#!U<6;4H-KIY1+->-N1BX-=',C_1K!ZF(I&L&J*9=S1[!3 M;R+4%L%RVPOR(P,=SCO*T:^'H7F-YXG.;<*D 1+!0"[5Q^E1.'S M16:4T?N2*"#YYXN.TNEB[=VSX_3K1OK#7_\2BLLGQN9O/C#;_P=S0BZ3R-RZ MUJ\V&]N.'=A.:W M7_[S/PSCKTOMWT\^V"YS39LY'UT1^.$,#T)_]AS;7!@FC!S>_\(G/U^\"WVJ ME?>U __#TK)?'[VOO:\]^>'B%\6'>$Q[\&0?61YD&ML(#O&G-W8 T&46 B2R MW"">&][$B+ENI-C^BJY78( ;W638G&J:N6S7@H&_Z0U/-8S'*3?NO-F&IS'PM#+XRY;WL^$/EOH !_DZ-1W8X9]@N?L2]O#&Q^1EH- MEP6 ,Y)&R0A\?+N.V7SN(&L\UUD@5[&+)0*V&'?"L65W.-OT.PZ)R.T9'261ITMZ\M26R-AU.FA/X7F;.2H*;TGU/,3(U M^>U&,;W__X4>&@G8N D4@ATQ,["?N;KT)PR +\-&VFPS/LM@P'A]G3]?(FG@+_C6=$(D!2%^O_,*&L3._6/5I^LBVLH'! M8$]1%S2_,YAS: :B[K4]5<2>>F=K3[^[WI)%D:;Z?.)P,R W2OF^2J!^3>/&Z8AU$:C9E@,)CSMW( M)<\OBQ@YU.^XR6=CP/E>IV5 !P-J[1-ZX=%70^GANQ; <4#-KUALJ+7!\OHB M ,K^K99U:HW!#1%"%ZEV?K!Q!>2% GH3/S;7L4_%5M0QR78Z#"/UPN2.H_#I MYXOV!7T6!OHC]^DAW!2-L4B,\C87;PM3OS M/)6IH#LPMBRLEQH&SO;B/7-_ J;\9FI;@"LIM=@CG+]&GYJQ!5EU:37L#/1Y ML5MK]W'9?>J<@?(# M5/N5VW.59+?6Y?V8"S2+.0/N=CH7:Z?7=MFR>,+R[V&S<5'6)( MQ!B=9CC )'!J;ZEN\_,:V>TX85?5U3J-959$EN^X,'V;#JAI[ZOJPBJZA%'X M5^F2/(2KIV?$C'#?,H>Y)D^D^##E/$@^WCE,"'N")_JTL9Z[L<:^;%>[LJ<6 M-"4\U?:H[5';8R4$3==8$GEVM&EJT]2F60E!YTRSJTU3FZ8VS4H(.F>:/1V& MK9%I-B$,6Q=15KZL\3E/@7K/>X>)2)?'.$M5/OD1R48S]]3WOC1.U)';E62N MQHD#,O?45[HT3M21VY5DKL:)@^+$:2]8:)RH([!W)=E;00^Q2>RM8&Q:HT4M M^%U)]FJT.+<(M4:+6O"[DNS5:'%N\2>-%K7@=R79J]%"HT6#T**"\>IZJ',C M(M:5C4OGPM"?@.I%5"YI LJR7(RJ_A-G7811M[02C13"'1-3JNEDXA]8(-CBW^-2L5WN_W6:#30^*#QX7SQX0 1;8T/&A\T M/C0&'TJ/2AV4^08@05P*N91 5!F2,7)Y(J@:;K^)%YXUXFC$T8AS3HASZCAZ MQ1&G$='RTO8J(D.1+#V5<5":2E5_OH%S<&UWENH1*#^WC5*MSG5R-H%>P_+" MLA6]=L[]8N*/QIEEX4W(D7N.-QAN--Q5@<'7QIM0XVRGE M.8*?>1*@M@N6V%^1'!CJ<=Y2C7\NB.4/RYKJUYBAU M/(;Y(6AN[TCTN@/@Q52G%C JX4'!RK[#JTFK8MM1YL5MK]W'9?>K+OV?& M[E.G)3HS=FLPT6#27':?.FO1F;%;@XD&D^:R^]1I2LZ,W1I,-)@TE]T:3([* M[E/OLC2&W;E=EWI&T^M6 [B4DK_UF'5K6LNB'H'R2M4O/\OK&W729:!9S!EP MM].Y6#N]MLOF]'8W5RNEV8>H\_Z)^>8TD6&OTS*Z[<[P/ ZD5'IR7B.X'6?K MJOI9IS'+BLCR'1>F;\\#VW.UZU5U8>5.\*W^JW1)'L+/T]-A1KAOF<-R--79DN]J//;6@*0&%MD=MC]H>*R'H7_DS=Q)Y M=K1I:M/4IED)0>=,LZM-4YNF-LU*"#IGFCT=AJV1:38A#%L745:^^,PY3X%Z MPWN'B4BG*SQ+53[Y^Y-$[4D=N59*[& MB8/B1.4J2FN[L%87 MS:Y!M??MF;\#-X]48KG7;K?:W;;&!XT/YXL/!XAH:WS0^*#QH3'X4'I4ZJ#, MKV;!X?]N=IUT#3,:9C3,-!YF3ATQKSC,-"(N7MJN1&0=DJ6GL@A*2&DP.LO= MP(FWMGM(]0B)G]N6J%;G.GF80*]A>>'8X?ND;JOZ/9WZQ:N\4;CC<:;"C"XNGA3:G#ME'*I9MS-R*6!;FZD7R-872Q%(U@UY7+N M"';J383:(EAN>T%^9*##>4Z"DSXL!25VW:=:/D<=#VM>CV$\ M3KEA,M]?@-88; 8Z%0C#FQC,-.7?<[9 =%I9?C2#[EE\.]S[@H@D,WGOO?= MGK& &\&4V[XQ8?!_P'I"^-4*X5M/_2"FGA]T,VD5'9-]6#&"-8WNN MP9Z>?/Z$:C;W;=>TY[@C1MJ*RKIO-SVFU?3<9^X'-EJ+X*[M^0#;@;*# M>S/PD.%4%;D+_Q=^E6Q/7OH-G[XJ*L?R$4N+9!(0FW! M4 MY-F(:CM+S8GA@\P>GRH<6,MP.4DK=$%R\,N_0QT>U>C\I01:,4A@D (^JP4ZD7#7U+34L;1:]]<+5=9VG$22[8)^%=^GG@WJN/TG&#SQ>9.2%+)M#R\T5'N:[% M3NJ>':=?-](?_OJ74%P^,39_\P$T]Q^HN/>3#[8+AF&3GR]NQ=?[R==.]VNO\Q71Y@( P98__0Y_=+H7H%@F&)8C?KZX[%W\TAV. M8'63(GGK_@] ?T^1/UQ+_G6O>S3R4R^]ES[:[01FCG\!X'^ %W8?Q^#BE\& M5IF;#60-(?N,Z N?,72B?-1883('&]UK9)W^7B,K)&B?$98BKL[-7H,J0U+4 MAA?N*9P2Q@$T[#N.QZG/3RX0(F+OD;QX)Q_'B[?Q*/[F>T+L-X%T)')M1C+U MMS=UFT\/!R3N-_"W]V-[O=TI_>B:WHP_LN_O8$IV/!'Z_!$H M>^MXYK>M9*O<[MB%WL,%WV?I\,KA9 HEI6-+QN41HTOKW MBMLXFE:1X3MAA+P)^9H'Q8CL.T('!"PZ$ MF?#-5%&4IA1;QVBW;,L#&I^Y+WAQA(PB0'+!R!S'>Z$PEBW@)1/WV+8%-^CT(IC?^/. DEU,8@H:19H,L0CZ,'SL9,HW%34(@T17X9A M^IPY&'#3 ??C#^.#"O4&M(28P1-3 ?J)"I$)IPY(19.X:A21MVR+Q"C5R,"O M]@U\F2$H"[R];R011K9O&Y'F[DV++:<4-("Y[SW; JQ$((5C\!LF=E <67\7 M[U&!0V)R/P +#18&P GMKT9P,@D# !AE1M+$E>5-V#, '(8DR?2"P+?'(86[ MTS*-]_L06G%Y],=-^76 M3D:KLG'[UU"@P;'.UWS")>\11"TX,)/^_>C>JOW0SVKWI42?_+(_[&<>RZ>U=7V](;M+_!A3C-OBO*4^DS"5:=Q.2ZMX[%N=[7$?O1A<<"SR^9L?W1:+B&T%3/ MZXB\QQGE3D[]AU+>07<=P2NH. 3Q6W*[T[\>'9#X^SE'\MPG&98JD^V]07<3 MPG,4E$[UMF8X*H/JS[X'KA/ M^#HY-RZUCNP6<>;XP:FW+]L1L#G6*N7==OP MM^8?H8W>YT?W4C'?B+A/SF:*_X8*SIW5LO-D!_G2JPT620F7(:1C AHSY: M%(RQX0G+AFZ<170,T3+2PP6+FBNE]--*::64TI:!'L 5VZ/C+"]3&QZ#[Q:R M$Y<6R$ @K20MXB(+Z*6E4<3K<\ U#U]U0@O/_Q -G%:@S SL9SE=R>"3%SK( M?ECJV0$L%H$YZ9,S8PQCP;4 MAJ%:,/HG/$K@^0MY3!,6G,8$B)%YF%68#9@Z%L@2;XPK7_Q6A,@Q]49+M0N# M"[CO4KP]6@R'*^)@GY9$!WU:2B]LWX*O?>*%"*'O/T+LGD)KR_2B,$PV)S#Z MMQ2T'>^II*."R8DR[YG[N=-9/FW0X]A"VH$Q'-S@4>MWJ;16I/J%(_KB+6#\ M2++W(N.:@CDR,BG/>M&K MHUI4+.0Q]/L06Q+3SYG$M61!%%5YVD2BEBFAQ? M^IWR^2@ \'K\KM$K]PUF^;QCD-T%;.P^4$7V>6ZNC(3EQNURMIJZA6W+CS[+ MNQKJMLXN@[K99DP%O5$K-U>#M,\P\3#\2'%.BKW,<=9$H"H 6D*\30*,Q@^$ M;%XHX#?QXYMZUIQ*W.G V)(K^J7? M;\KV@C[$!*SBS=2V0/E2BK#'/;4U"I15GEUOIMV<.-M4U:55^EW;ZY->!#PS M=FOM/BJ[NU?7)ZTK?&;LUF"BP:2Y[-9@1S]5C):>9JYNI% ML5X4UU$TE?%^8!1BSH#?W8NUJ5S;95O%=D7[*L7[0[A">$1(.T':9K3-;&4S M0VTSVF:TS6QN,^_C\_ZI4_Y;&5%3W>R:%5_XF#MX;%P:]Y__]SZY$G0>'G@] M,OK7-KQ;,Z,X1$62ZBK]#FP^4@6WSJ %LVW#G# --4UAKX8:#34::LYW-Z/R M2CUJ)L/K@NV8?7NY;$;C%\5U$<^OF+:")54@HKP&=#.]@=-R(Z:! WBSI]X?N7I KV%Y(6K%'N<^:F80-=B/ M*%4NU0W>=OHM\ ;K[ QJN-%PH^&F/G#3'>ZU8:3AIM$+*LU>S=X-5K+R(^9: MS2-,].NALA ?.=UL=8>1KDX0UT%;FFBW;?7/[:OEJT7;-H+GBATL4F"[F>W6 M*$M[G))=YJ]?3HQL6*$?U8E;5^-O6)A?/ODK.<2NDNP74H1I_%>E9\XE8@9Z M]V=SYZI?'ILGJARBS,H/^(-4RZJ'95!Z4QZEN]&6L8K MNQX[4#2J'$7[RZ]%"55DB M:>6?X -A(5WX3U8M F.Y=-!:"OR6E'^E"O!F:O[$U[Z*:U&!9RD2%RCQF&2= M'@9#\!FJ_R62CA7%P2.*:@39?E%MH&?@T#9@NYX=N\V0Z]N59:NHHE#L-P(7 MQSSE8.'0YO +=(,7(J_J,;*DW8\3PPO]>("YFDM)B:R;GT2FO!.(64Q!$TC2 MS%W-$:JA)7^/7H@*@U&+5G&Q]R*_/%/K';11U@ASJ;[6!#X(^E?6CE*EG[ ( M&)X+(=F) /Z19:+@.4_6/80'=JW:O@I(BF,)E4.1O8&T F/XY_)MU4H:' *H M6#X97DE:$0^6IQ%:%,_FS/9G6Y:V/]U([ D,Q+)-+'LG9R]5?@FK!IH 6T\2 M*4S;-\,9P(-K DJ%3_!U($L))B.&&1=+(MJBN(;=^^>D4*-)]0>AI]"A8H@ MCTD[+>P[ )?Q"9 0?\%+_O8LW9-4%OEP5/!0XJO)[3F!' 8($;N88YC #!BB M@^T"XL0? ?,85OUC/L82">5E8<6H^"253C3F'D*US1QG07C* YNJ$&:?;:79 M1< :=Y,J_ BSQI//9J0KK* W+.YHN_#K3 )[0EU,Q5:+N?4:(">#*":"%-5O MAG9Q%G.Y22Q[L8.IP1GX)2L4YH63&%'9<<@3> ;CX&$\M7O;SQX_QWM'MC^ M-\^S7FS'R:R ;\77^\G73G?SPN']ZUZ^&O3Z/DNA>"\NL 'F# MOW^BO,TG',.6Q5PIL:K^Q'$\FG4'[9MNQ MH.OF^0M=PK:$/X@]@_^KBFI M&TNJ L5TJVYT]2^>>SVX&NBB9[$:['$Z\RAW_CJZU/&KTBK]L+)F]Q'9?7/5 MU?4NM79K=FMV:S"I#+OEY_TNW9[%^)>G9-]1!JE@OG"WLQ\-:-;S-GN[3QM06]>F2XT.RMV@[+H'#SU(]#3)I8"H'PS)YI46'F+J8%FMZJT\V' M/P TV+9/F316IR4\4#44Q>57H*L"P]!54/)R6T+[O9I+)P_TN4'%(BR#!93N MVO%>9"4U667"3U4$<0$/?([55"AC'F7);LGB*!/;%\CDEOK+"V7Z]P\?/]RW M9+&45#+Y596^]I?IJPY9?01^9/Y4;OR??1L3V7NJ&,!3Z&!A@X7!YG/?>\8* M !/##D14O"7)O2^H"$M<(=)VS= 745F5)#T^#"6<,),*(T)3E+\_:BM5V"!= M,6#,#?;,;(=4'R@3X7SN^8&JO3*;<=_$I/X."UUSFJ,OH_N_0XN.S%B/I@+# MPW:H-("L%O."562*!CUE LB@'TU.-9"P4H4P/*S#]F++;-'"!CG#3_#.&&G- M,D16E0&[=QP8 1"*5DXY1#&U*%W"QKRAZ5('BGGI(:2+<$JBL4 ",(FYS%G\ M&VLGI)*4+@P'FQ.RA-V+;X.88,WSXJ:>(*;+\0$S02ACX3D1-':5+I'*JCX/,_0MM7)728B$ON1$I"3ZTJ M(P7LPUS/MBMK/\!K(%*44:ISR7=*)#_F:4I5S\DX@"<+5%CV1.04=OIQ8J V M@XX !GR3;ILLFR$AWL%13MBSYTOUQ3I&,)3_DT/.M-]*5]P@85VBK"1[8_*Q M1,@X)A9U%@M(O9#5T/?9XD4%S"MW2CM87962BBN=PX(PY[JOW O+&O;G6&HWX[RYM4V]MTNL600:$[O:W[1&L, .FFG@,^EW@/0U%ARLA,D ".[V M1NULB#1-5I;@WQ@NU^XG]['#U8S@8'2"RJ!U>GKA;EP>L?S$NOH@G<*%QSLN M3-^>1^N!**E",,X!RQ:/1?7;$^+RXEG M8DE=8VQ[\RGS9\SD84!E&DTU)EA^8CU,6(Q*6CD+4514I4<",)!-D8!8FHC>- ]-!RT*JPWP<; M:PLFH@"NMN!=@$^,"9F!_2P=GRE[5H$?@8/%DIE$*D64"N)CS'J&4>.OZ2B/ M+'8H>.$KZD%\!XMX.@Z7P09X%@0>+%JXX/=ANE=1+(%5'!T:K,]L@=^J0MS% M)9 %2, /H@#.6(&(@16W _ZTR,?T NY:@JI\@Y[;.(FBA&.I4+5/*:UT+&-Y M8/"4[T$_S\RWO1#[8T]2+U*@[QBAAM2,E@8JF^+;R*JOBJU8LX1K$PR]V]\095EGVT+)*[" MJRZ75J78E%)[9V$\VZI6D53Y5E)K%9J;^-Y,QBN5G=JH7S-B[<1(RI [ )]4 M-1;#20&6TDY5VEB;$&U.U=V9Q@)0@(_:)[2IUA^^#R0.9!5 MB:P,KOQWI@"\#,VGXOI*^BWC'[=??G^[U892- M#Y,MUB7^"5^^C"H'M-O_E8CC3]]OWV\5Z"S$CA]\SR&C)Y%6OT.MTMNK1D>8@BBF0DW^][=MJC(M#<;1\%O*JXK#1[Z ML?D,D, T &=E&3.PU- )DHV9N8]KE& D MS&SI/;2,*0@!H"W=2NKUM>B;.$AR=P$(DFID6*$?.243#Y'$4#X1/H,ZJK'B M-*7W(M%-I3N,*WF0GOWDVA/P*M%ADJXN",_QL)8T_*C\-2Z70ZB(4]I8V(K= MQT_QCH[:VQ++)&-;+G\BN$G]:C(Q-;! 2=;)BFP4_@5'D=,L/PEQ4;[*JPLR M-B";$=)9 XXJ*@"%?>:J21)^ PB: "@I/H'C$CDD@1'./;D?(T(3([B3,%.5 MO15OE2Y[XT53^2IW/'8O8!5B0_.1@\SD1B9Y33*D(A*7([4EC%W0GA>@8VBN M9%!:S7 _S84V_:C/+!OD>$*7]O'DG[B);./9T?R>=UR<.O*,(R<)7?&,:_2: M3WX?K?0Z(UD\,ML)GOS#[;U84<&FS)A1D@&S&7!<8$10(C2@KO323!.,R99K M2XPM>SX,X06PE(]1OV%V>/)1*VEO?M]IKM_JM_NMX6"TOZ\-ZTRU;,R,#>@& M-16A/$-#+ $@ &N2;Y0QB#_W!E>=F[U'@!:<,/>)%C^4&(E;-"XRG^^TZPRS MW=Y$=P:#J_;>1 /V.Z"OJ[3T%MCM&(.RE+0*B[H" R'1'5Q@@_:!Y96:E%++ M>)H(Y4R2BR!16"":$Z5_J 9/"TD9L4@F0KGF2BWYY ( Y7'!(XJT>Z.!;DC0LPM_RL6( MD .=4Y@#75K>7-8>!TOZGI3QLV)FZM!00RV M&='8CZ[Q]]#EN+[OR_6]>O"/W)"X?7C;BF(SA<_^ M/L>('SU\^_![R_C-NZ*.+CO=E3$[!DICS:(-C&!J"WP7U^(.Q763"QVXDT%[ M]'1UXP',8 M%+/$>4*VRS#6-/'\&6YL& 'NG%(TDZZLR&@BK(HGN*G Y(E]8<-2&,^]JD"5 M[5F;C%:=]L<0'8V,1AOX?!4-DCI88F.H5;DFT=YM?,=FF4AYYZ>8S):\49#N M++[J4!R%SHL#EOA3ZEC*BW^WB2[C*;0M)B/X(,X[X]&;PX1RW1D9*==4. MU.T=$5\^DLP(BH<377Y)Q ^:H3H$H>$F@QO?K\K1Q8+ M\=A$-W&2NCY0?Q( M/$[L9UF7Z!*1 XIK+:(+52[=FMK:YL$:.(D:=U HO.JZ>#(F?ZE+J+M'>(Y_ M%G^':D3->1B87_7FF ,@N[3G2?81E_+M#*)];&R<,Q]O8.'\A6P""N=X"2D( M7AE6%"EED3_!";#J6+;63CB0!2MC0.EB! MVK0IW&C/W*R9Q,">W+$YKPW04\VP,HJ>'(K F3.>.$$?U+PXN&P/6LJTU!R4 M$C]N%H8B 3P<:/3"X/XXAO#8'Q(6W+S4.[?)X%4M?N.NVF&\"8!'354A[E6 M7G?;M4$:G[K5I8B-9X041-,N8^Y5@SL\=5@NTV-T ,\-Y.0@MP^3TS]X4TQ% M@[.-%L\ :T>(^WYD:VJHJT:Z=I#I1FENC4 2UQ\^F.]*\(CE3D".M)A3;,KX MV^WM9PF&<>]9HV>)*T;38:['8I:@&BH51' KA%T%F>GC;)M@;OS:6J@MI.S] MELA[&_M/Z*5Q)SJ5APU(F22S#;=):W[H_(@&)^9RS-+1Q$N\F?T(*M5($S2> MB?/CBGOP^,RS[(F=\;$2#L8^\ _='V$""M(=%8[@ VVIQ$^E=O"ETGDN=&G% M"6)RUVF#](X_*BP=Y6/1;6QY@H<)/"ZHE%0IEMP\CE0'( LFBWETQ3G5Y@Q MQU/'!!F>J'%@:2A'FCVO+F]A+TTZ!D(E^#,<_&[IR25GHB0I*[F2X=X27S9C M2632L?,2/399R78:*@P4U4J.U';)WY(_$A8G,D]6$PDW7QG7JYY"5BN7_8:M MW898:P_N/C1Y;VS+:%,N5D6G@^.=-??I01XSWB<*>I,.L+4O?NFDB%W579:J M^.?W43J'$B.7_?[U*!OM6^IN'VJVW8"[[MP,=J(F"5"6&]==S9ZDQ_U(VC8^ M.QJ.1J,=2?H5IAWD7\KTO!N+5MOS%MNWZWHGNC^[C MB_!!29<^!\,>V"K=QW]DWS]C_,-S M;U,AGD?O,ULB=^\-G@(6[D[:YN/\C%] (ZY%3WWV1 !>HW+RWG*73^S@LP.> MW:WU?Z&\>?^6XZ';+]QTF!!T IG(B'_'N]= WJG8<[@1%7"U[#ODG4'NVO2* M7G8E98OK]>U^@4%M2TE9$-/IO$[,JR:^*3W;Y&CH[$1.-$$]>K?R3N!G=6D1 M%3( +<,\!?/9.G#9]K!1[F3*YE0+0A3629QG=AOW%MY^>+P _YQ;:3[%]*Z. U)%]J M7QZ8_^![LUR2EN(9XT;.&'V<,6Z^]MKRPP&3P'1EZJ6L?:\D>O7H4,\QG'@_ M^2P/^W^.;WL4#K17-#7&8WF((HAWZ*#>3T@\N='&I[[D2)-WP[&P+9OYBP?F M\*)W\Q1NFB]G,%B&PDTX4"K71BFV11_V8%L=1MW_.H@''?]=EJKP/T)X^3W> M>UXRJ=SO&W)L4#!C[LXO?B_7>\5"ERL]:>#G-WE$OZMK;W,HG=.M%6 M;[0GL<7N\]YI_KOYP-!K7>U%U.;3R9E*D$_;V-E$[L)*]1NP/OO:KL[ZBA. M]TZC_"KQ>VOO_(GYKRG4P8TH03" M][Y^ C0BCW?^SIO.^)WGSS><4?*[&<=AB=RDU"?ARSP)_R6=YSW%;J4CHV\::P 4\8HB[$E69'@ M5WD6>.GWGV !S1U'%3_#HP?T67 MYPIE>5C,QIZ3%V_ZEOJ?OK^]7A9P@82S7,K*\A41X&_)7UO*(L/^M&".P.+M M+"9[^X=:F?O\,EU]1!U4G7"5Q0;(Q/P1+D_NEM!U!HDD!8=4DS2*19EQ6JD4 M??*@NLQL1*=E5Y1%H%.ERA' YN?2%5A9<&15V>ZVY(/X[E 029:.Q9Y:6EE#_JVEWF>I%J M5*.01B&-0AJ%EE H=JWBHG+Q(BS$2X0&>_)Y.C]4=*LE<7@\_XFY*B6A:*D< M7[9*PX@7%44K>9A.N/N!+=.?RCM$\;UB2K;JNGC\/LJUJLI5D>.&J>I@6)06 M/: "0BKC(8^_%@'@IAI1A*OJ/@Y0(2^J"KP@PC(UPAPVQISD5)[.I2SLZ/[A M55I3Q.]K#-48JC%48^@2ADJ,DD4!XV(%F3(#,AU?5*23OI%7GG+%'N 73)68 MOAV53^:JRD;"NWC'*"Z=65!@LY5#R_@FDDAA[\HZF?'#&O8T[&G8T["WVG64 M8?U4("X%1A/;25*9QEF_-*9H3-&8HC%E&5- B^4%"/2?<&5GL_A"N%HMQF$R ME:='72^W;!\S#Q#0.(YG9F)JY$WYM-8#5ROJ8<8H;3/=V@;?+=VY[8K0IQ^2 MGH6J5?L3?J<13".81C"-8'D$BZJ!T4F'7%&?>#V6#UNM*J9UKKAR$JI79:-, M6KE;$LY>S9&.X,04E1+)E'&+52*)6Q9%/[-AA54MR!WN..6=W"BB:=7@F$TO MKB>CJA(\^;BG3>5R9G.'1[]B:A2\W6H$3'P31DB5X2B:&I&H:D\:W/4]QY'1 MU20ZBUGKB*PH6 R#3V=V44FXXMW\*$W+>$'U+9ZY:WE8D,!5>2>9+-PHK2T. M7$.C<64;/IE@#1OR ZP5"8RB^X!1?A[!TP4ID74QOY826";%!#.YBR+G!&LP M6#:698A+/""+H E75EY)$ZXR_/BY9(A1"%R>8LBDB!DSAWP4,>6<\ 919<_5V1^%&!M4R9# M;3-,'".26%F.W,@V?$N2@5E%,>JF"CAMP+[5@):&Y)S#5/>[!\N'?#?DND=XL#VJ61B_;*K??,QY1OXM8T MPUE(,9EW'##;WI.ME\-VYZ8SRM&ZKL\2:-PF$_U-=SC*G^??ED0JA?9%3I8( M CJ3^4'/;Q.[C12_J^H?'L2K73JQ/<9YR+\<>T'@S7#U9+AXWO%/[V[P?T95 MY/99[4PI^>TX>C58K!J[/-**<.)( J\1#[Y$U2+)I8WV*&4MV-Q"XP63TV() M]9!ACAU8;-BJ%O>$2B.FLK52ZG(*^V$]>U_6*O7,U(V P Y2Z;%5M^0R)^ML MK/^-C6,Q3FIA#C\F"XHH@6M+M8%Y6FVLC_Q=KALLCMZ][>*2ND5NJ#J,$GOO M<0):;%QEV\;DGO#& @D)I2/O.)D("8-F_IS1D/U$D56+ZY(HY= MON [(DIZGVI?Y45?M8Y1+$FJ>:8]6Y>31ECS$RLG(XY/.&8NU6D&I_'M-#0KE;837D6B!^8X;(9M/+5 MG']%.\-9>3A*9E*V8Y>WB4Q>6RPDA50-E28>N,%3K,B)1=K(U6OU[AJ.)!I- M@Y]4Z6Q (>76RUS#,B5;$@'X_>KA*LH1C"F0#VA&6[84UY*L#DE1L7.74K'& MD2OF!"G>8B2)IA6/2B'#-(&;2X<A"7Z$Q>5&=U%I1;V.4.1:^B*0+3!;>, MNRA?_%;5,0_+BU14),YF+^(\#*!L&. ^%9Z"-R8 MKS912/WD9DZ\#:,BY:_-@7ECC%907)7%LE/%/19<'5T5X01#;VJ7"GN?VE@7 M7&XT( E8U-VWH@)0H2/7%9AIW[V=_5&DK@4_""TO_T@30QE1E9 M1,*-:&,B-647%2Y)$&IYJ)/05VNAU4-.?#H:.)6&X'AA%&L*/'M...-*!KC? M1'4P(MM/,>G9%C9E!EU(D%/%%Q*T5.*(JQ/$#*/3+O_.;^_A>D1M425CM=TI M=!*(U>4)F*(!L3H:,ZV U *5QPM [&ONH2]E4Q&HI45@4CU$KJ%0>'$9AS$@ M7@O74)]HXZ47UVS:0-GL1-6B:EJ@"#8MGV?L&Z>EN>HHHE:D9 +/SSBF"%+[ M7^K1;WP1K=DDPWV;SD>C>TZ0)CM2BSI:;"^M^_*HNT(K"UW5-7J*U1'(7- + M37/)].3Q*,6@:'U::!NK^H:I)%N"+"V">%=-WBYN)3.&Z6/& 6"#/ M;@A#WCR1[&BEXWO2NY#0$5T$Y F-AB_)QF.29H2^G)G357-K!+(F%F*@PRBI M^:-@ZI*,B=R2Z*R)JH&%'2D&//E>.*>I@',KRB>3#D_&O .S_<93EQE1HPNI M?2IU-R@ M#%=9F8KSO(X<*Q<-.Y#ZF[?W8 M&:+S(:4O&<*.:7.N$6EPKK;1UD9[I=A_& MYR07C/)%:&Y(PEU8:,UZCHYYI]VX=,@^%]F/G)?X@>RQH5:TH1)GHIDQBP O M%:E8'SVK&Z]KJS+K-K1_5;F&H@,)VF,]^C#2A?GPX"3%]0JB>C(Q05RE.:H\ M&GL3= A&1 O\HCNT7M:U6[&DBH^ R@YE/W2B,(E-DE,F3]#**3-9&-ODLRQ2 MQ9^9,<.%^=Q):J^F!K:V6"%NG0=8]E(Z8FJC'/TL$=V"L9*"H#QU7)(2/"@J MA>)Z[DE7BU=<4P>!=] M9?QB[YVIE_T=B'BACY*>\4#G(]27>?1EGC.YS)."6=Q?"OB,;BQ0)5T9R,8R M&Y?,P6V,9ZIVD3MHI.\*:GC1\*+AI1!>XJ..&'!+GQ:4CA"ZG6GL^4'\2,>$ M//!"+?H6?-LQ&0[E S'"$>!K)">7!P*?"_>\8@7KW$9Z]0)3.5#XH;,$W?! M-72D*RU7R;B%(V-#5*O;,Y;!$0C4]Q>WW0JOUI&,#\RD@U$I)2--LI- /$M7 M=6_A]2IPU>. N?M$E]\X?<8U@?PENKI'1XWHXAQ-HM%ZP)&)U]0*0*WH4'MQ M)RD4O$#9:(UAR^T,&:^;A_XWF;#6Y'X M^FM%Z5.[OG%XGL+OA>>;B]?2^2MXE(TAB;7)[PG)YK[MT68J)C 5DT4TN/09 M[P).999IKX;QMKE1^>I@<)L9[P"::N6?W692ZW"TZ 5G?FI5B[UGNL%-!QE_ MC,K'2M)Q5RBZ898?QJY11'W^YE!GV?#>ZH1JB2^G*8]R:<89S9/0C)S0$1CH MN7F\GS>U0=+T"%V)C6?WYU3[K;C!6+M%6@E! 1%:,&P$$WCL%(#EVA[]FNSP M)C3;(NJ]^)K!;?;9-&'VY$US Z=Z :,7,'H!DUG V!16ATD._+=Q#%K1]CKA MB^=PF>5!7>]W#6XK7W&%OY'Q*^1SZAI8='$LR4,!;AY6;4^=_HLO:JUK>_DX M[SFN5#2H:5#3H)8/^OI+GDWHJMU%\*+4$2KIM6#NYBR!/>LH3"&-.X:QDZTDY/J\>Q#M' MB*EN[."1XE%QV;-D>4T76[R%/&BY=,HM?2PE%5+ [*6876'1*CK^S,12S("2 M--!1%3K-PGQ7']D_30S)-?X>PE(*%BO];)@X>\6Q((Q$=TO^OF3GKQ"P/C^A M#6Z-"(W_X>Z3']K&)V[9)D:6[[RKEO%K8%W1#6CU[=;F^W7F(N4AD M&%T&OZ+A31/+6';)3C"6HI:2DVTJ$5TKE?^1JV3L$8[@/23?<]C<1B<6IX^[ MJ>VR='FQ_\&MF__U5(6*3\QDWLH+#K0'E/)UU]_4B!UIB@_L.W; PWV;*-B- M4??&HIW/U.X3G@X,Y+DUM5<:_X W*2ZGWDMTN2*"V613!N]R@)VJ0"MN/@%F MK#T^%^];[#O0/[?WOJ/?V9O9T3T#S,:3FW%25PS8_H/M7+5+(S:<7TY\?#<; MN<\K/_A;VUP'D1=4JR/+]&%4:H$YRA@*%CKX*VP.?ZXM])T2U2:U/Y=\>Y=?# ]J8L2^_C9 M"W;2V:?;AFX^LUJ (L6;_>R)JYMV:C_/08%P[I[[W9)3.>VW<]]V"F[^Y;SV M5%9C5=%BE1_/7"%@3?;6]@)N3EO&1]>4SK;ZI96Y Y'N\@FF*)Q9HR;BRQ'R MA4@3I6L3W91 4F++3F-%G+6Y%94CH[+8N.EC8O>>[U@O !*%&/ L^)O, "C MTVT9"=3<[> %K[N\\Q#G,S+>/],2..GOW=Y>-XT]3O9@"S,4@DZZK-;2=-0D M%]ZL?][G-0ER"_/IBFW2YJ[+\]MK7^=R_,H^LCT_ &S>3QZP,O*=.LU&G7Y1 M\9-[]Q&,13"9O*^0O/[704Q>_+=J_^M#5"$>DS,'B[OXHLOM=UO$3\'7X!H2 M%9\X9B-+WH^5EG3V<3'GF3=SOQ>\;5LV\Q>I<=+[@?"]KW__/\N4;[S.S4&4 M@#K-SZTXMY+IOU'R-?@P93X7'X4(N?5Q/<][12JQS/0[/"J5'O9F#"]F6?3$ M9YE/Z;/#3.JDF(-I!G[\[#*S7^)MH MLTL<[W1ZX+27S?'/F _W,_?IS8),[$UAYRC-SR[J[U6W7\C+#$>6^2;4S/,W MS[/$;SQX=9(;I!%M3;Y]@.4<'N>[VI.8+6?A '1=S^)$O5'7&]:XOUJK+4>,Q=M W7T MFJX B[AB"L5&7S"(RY6T4GFPF6/B8E9%^$C *LLTY=Z>8\$\E%\KM3>))7M M&RXC=<#R/)B>Z =:R'JA@)6(^/&89TAO=F/DS4YKUL)##HG"22FL.=$0[6F; MM+B,#Q6H<]VTQ)P+_B;Z0^V=&Z/V53O15JF\2T.7^[_) 8'4:09Y2R5WAF%X M<]7I_M=&B4>IQ^W3DJK?I74M_PP:13_(DQ2*:_FC#GNK2[87C/E-P&[>3&T+ MC+CH2(+J=PN[W&"K*%&ES'F*S:75[EYU1EI:JZ65Y?V^[.YTKX::W4=CM]9N MK=W-97>[<]49:G:7P.[40;?Z^CV8TQMS'+K6I3Q^8OR)A8%W,+FD'.;1SD[. MZ"R&M MZ,Q X5^E2_(0BQ<]=V6$BUL^)X+'A#5ZSS)R?ZK>N;3A5T^GP12.O\ MD77^NM4>CAKF7QU1Y\\]_%877/G=?>9")N/$.H&4 U-Z.%39H8;^35TX7VM$ MKRYN=X954,ZFPX96WH,H[Z!W76>70SL637?KRL .>9_%L(4(Z: TY4HV/7!$ M?*%.H=_1I\#&G_'J:97]D'H*LH0C)O7;%]B-OP8@O=&6_RTC_JFLR,C%ENF. M=/],MLNUH1S%4*KK*'7;=?:3:JO1C?"@ZN(G-?H,E!;"*N@O!N^-I "6;5A> MB%[SIN!?78COMT;MO5;#6L6UBE=;Q:];P^Z@SHY,O=P5^?$8";&S-*^QRSN>,M.+3M/]LFIY?>8IT;;):[@MJ]=: )U<.7 M.'7D9TK*>.>)0#0MFP5JXF5T;:\38=W)TUM0\I9+68;(3,F'"O91QCW,HSYQ M9/$^^Y7JAROJ!(HH\PTEI?3F*D.6B'(PSWT^A=$JHN.'W2_Y0!SZW92 MJ.X4VFUUVGMFH-(PH6%"PT2S86+0&MQT*Z;A38*)1OC3]5_8/WH!N-=BS26^ M!CK;M5V(G@1]=KC47W_;J$'0JU2Y5'T!NUBDF;DUNS6[3W6JX.1KUKK=CCYB'HE3S[J5NBE[ MC'V]T_J49\9NK=W[0M&:^_M1\/G@::!.[:Y62I(:IQK&;HU3!\:I9#M,8U-5 MSB;48R6GF:N9JQ?%>E%<1]%4QOO1*=>JXPH=+ -B,YP@;3/:9HILYA!I"K7- M:)NI!.\/83/O16#/J.!@*/@D= S'GFQW[[&I;G;-[M%\S!T\-BZ-^\__>V\ M(5P$,-CS\,#K<>&CMN'=FAG%82Z7557IJWNUK#-HP6S;,"=,0TU3V*NA1D.- MAIKSWA0Z$,-O/\P/XW MW8!NX+3C'.KN4 M&C$T8FC$."9B7/>Z&C%.C1BG7OEH)C:?B8U8Z=5_B2X3^N:S+[4,EQ^B1-ZI M5X -#Q&6[.GIO)K55/LSR:O9Z;? &ZRS,ZCA1L.-AIOZP$UWN->&D8:;1B^H M-'LU>S=8R>E5^Z8_N,W<#SU_ZQ!CK*SU=$)O5^5 M5NE+QM7QR-U,GL*DL+E7JOXWPW:-N>^9 M7#31]=3 ?WPFGF6VEM-. M6%^E'OC#1?PX>&#PT?Y5[!78$?C? 3Z[^BPDMS M8LHMX\GSK"8ZD#JF-*@FONC/*<+ B\J#Q2..1QB.-1\?&H\Z* M$AN-\'#KXL=&20_CS $-=&7U!+',Q!TR6=5%I6NPV;4#]ZL+Y)U6ISVLD&IK M?-#XH/&A.O@P:-W=+ZS:^<)>3_>U*DG8PY3Y_"T3W+KS9G/N M"LH#]H6+P+?-@%L/ ;S\NVL'XO:%^=:M&=C/=K"H?2ZQ4M),*>R1IZY/G76J M?S74N3!B+-EC1CK692F=2N,5:97LAEU?C4Y:!??,V*VU6[.[L>SN='5^QV-J M=UMK=SGL+B6"?VHW4U_ K^PTT/@+K2GIO?Y7^;(]M0.K9:OM5LNVS6 M3EEE)O0GG\%$$$O08@%//DV8[6LOK7Y"U5Z:]M+T/'9JM^$ 7II.89BQ%CH> M=:##]]I2&N/Q::O)6 WP/TPY>7/N)Q\$6I1V^>HG5.WRE7$+,_KO^JH;"5M5 M9S4NY7>G.G__N_O,1< MPX\/_\+;>+HWQ.._!@OBNK6)*D0%;,]CAJQ9,HQS MVY"N_MW:=@O\ VT45;ZM=<;LK>@MKI.?MZPCU R&5_LA307]Z7H@32,XI\Y^9,41I!'>8OGAT0KZD?^@Z&@#O[=W)HKI[<,ZQV9'2OTAVG]M4J M;O6-\,CTP5$Z./J)^>9TZ=3HL(&^G0ZF'M-KW"$A=RT/<_6N6]UZ;^37-C"@ MV:L/CI[3P=%^_^IZ15F >KBUM46:G,,K/^JJ"]6NNE!*_83MBC-0D_=S_%/H M>@S[UV,8':('<)1U24<7SWA56J5'%=LZI??1V*VU6[.[ MN>S68**UNY;L+F.#X^1NIDZ&5EE#J9MH*IN@_^0S3*5R"QTCF*X-IQ&&<\Z2 M/,;1'(U*&I4T*FF76KO4S1>-GD_T?%))=I^(N;K"0V4RPQZA[)8V%AUBU/Z0 M-@OM#VE_J.+LUOY0G?3Z$/X0_\Y]TQ;I"@B^;>8*(NC)H"(&I'TD[2,U5#2U M])%T+9UC5:#2=E%7?TO;2,9&#E53ZHQ-I&$5I*KHH-7L@N9]&(B N4CK"6I! M5''GQ*(5*/S40'>T+NC?:*>SNF#?:75O1JU^=Z^Z+>>@XXUW(#50 M:*!X/85IM];KSXJ#1"-\OP,4=SJE5_A>'"\@,'I>>R[]ZT MAJ.;/9/9G[,1--ZEU!AS9AAS>#>TV[\:#+5-: ?UC(*3=\S%[)6-=$/U1%"% MDY&5\2FO;UJ#7J?6/F7%85PS\9QAH2G!R)NK?4M<-%^_S]W7J__J,W>,\IB5 MD3@W\A:V5HU-1.KP41MWUHU=8#Q3#WD?\AB[#JV6"NIZ=AB MY5;[W=:P/VQU;JZU9535T3ES]NK88G/0IC/2L<5ZSL&-\'OK(J/(NW4M@W^? M\0Q?O^+R&C^P'QOH]M9%: UW;JL[J0Q;@^YU:S"L=>H/[:C6A(G: M':T;/O0&5_V^5NO*SH YUU)^9# WY049_5HT9B3J,JIG70X3RN- /*QY^I,: M%?XY]:-.E"HHS?M)_ML=_%=Y1V_GS1EI_%G)GJ<]Q W#'86M:V8LZEY9K\EC Y\Z1D M9$J1P3,SZ.A]22,0\O-%1UKL:^S=O>/T MZT;ZPU__$HK+)\;F;Q[,*;="A]]/*#O_6U2A.V\VYZY@J#^,(G/U^\"WWZ\FL'_H=9 MEK\^>E][7WORPP5HKBT?_!W^Z'0O#(N;H)6.^/GBLG?Q2^^FBP:8&D)AEWN3 M-4R3-5Q+UDUW,"J)K%O?9^X3GP&DO%TDCWQF"_SJ]H7YUOL_0A#$1U<$?HA? MBGLP7_]QREPEJP_2?KGUT?T,5N-96XSUJR+O*W7UN)CSV^^VB+_] BCAVXA' MI!S(#O'EX?=/E$,[SZ20=AP)$Y#\@IHFJ2M[*8)&5Q? =H M^H'9_C^8$_(3"664EDKWXI=^[ZIWA95,Y/^J'US,SB&3++C M/PW7ZV0HG>,+I3*V\INGO,K?I+.:ELJM^'H_^=KI1A/Y0^Z>QP8.C6CMX.@0RI['G0&PZLCZWKU\&87Z1QG1NA?77<;*1QIA_>3 M6\NR\17FR/IMMV$P]7Q8O+[N*]&J+OX[XO5GA[F_L9D40"!\[^O]S+7'(4QU M6(?+?N;X!+S2E>R/7WP(8(A(VYW#A(#5*HHJ(T88WDRM5S<$MTX?_E^[5X+T MUO/JQ$(9?.WT8ZDD'RHIEJZ,L)V#6-(.;/QW)872&78ZG9LR?-^C"^554Y9N T#O;YV;@^7F>#X[ \T'9('1ZEB\[1 _A M6-B6S?S% Z,8\!+CWL_FCK?@?"L OQ[4D77/S'8PLOW!\\FI.B4'>\/K;IF. MR8HAEL3(Y>A>^>&T#!MEAQLR\_IF4$K09O4HRV5C-O;S-]\3H@IL['1O1OUN MB8PL&&>YC$SEI]H_7K4[XP:CZU%O4,8B<=6XCL^V(UAM>W@]&)2!@4?G6FZ% M'I5I^.S;YEY1I(V9F0]24,F\@W#RM:%6A;^EZ^H2>X?E;)^=DKWR,L*M:[U7 M9TT>/?RJ&E@P'(!+.2Q1@S<=[;%Y7#G-QD.UQV3[E@H_7D_+^%5:LOYQ%=RL M[K _[-Q\D"WU&NQ1JZ1F%9M6*[6X^,P.:_65*5A"[4N=?PE\[Y@.5)Q M[E-VY!*YOR4'2N;_JSOUE6,]5LDKD?6;#WX3KLM&87K(Q/O$9\^QS<4V9_5^ M21V\-_8\-[G/><_3'7+%G][8 0/.%1Y[)1WA? MHYJN(MFN!3KWIC<\U3"D2.09;C,M$CIB;GI/+H5UF3P.#C*B4]NK;EE '3Y1^-2"+HU08'9P;.&MPX#(!W/J.="F>FT.V( /S#R+.R70Y,=[ M^8H\Q,,"LC)'Y4W'(RI!);[Q@&BB%H.D:Z+G3]\!76Y^0C<1=Q,B!F C3+:[ M<@0QE=BFY!6]!+(-'2D=9[%\SG^EZ)'CT+_/$'@N4:=P2/"X!]A+G?C\C] 6 M-HP5=/491S0GD%Y)HAG.0H$1 &@+K!3-,+ MW>A2 9#,7'7/ "",[NSK3P_C;3XL%\ZKX*$0(TS6J,4S, M]-TKB\?!/MMH6^R#?/Q\OX&3(B.FG>5X5=&H]AE\9Y3;R-E_#[%@]=S)QX7* M'L;2?M1!90CT/$/[H'\F=7)0/F#O,%E8W!?R=-2KL=.U%S1&P]%U/[LON=3# M#A1L?D.D,VS?#/>EX#T3%[D?<- MQ\#W0D_MNG .E79ED,B,1W U!#-ID:1]Z:,/XZ.K[CHB,K32CAQ6GK.69_@M MV^^UK@>#%ICRO@T90@8>P?O).)7@&X'?% (?_1??#@(.KG(XA@D?GIP OV3% M':9\5>69Q4_L/;X_TPR\]^# M9,#;*%CCHXNT U#>Z(][;GOF9Q;-'@VAT_? M(S]X;_([-YVKP=[D@\XZ8,"%UOX;+134 !3_(Q5C$UBF /A;H4DCGG#0&@_U5]%5TG4MGUIA'WFPAMI:!IN0 EXFFV[2535M0 MU/*+'4P-D_L!0\:8IL\MO#@+;,(@A.<#>-FNZ814Z&T"DQ( V&1B.S8!%KU= M+D'!U.>\W"9?R5JS5[O>I!YTVH&H!Z&6.O,K)TDS]'VTS)0J[FM'1_9$!H.K M_1VI=5.MA*H8((P7#!7^$3(G>/2>6(.)PM SPD+K$GH2K,F$7A5O Q;=F6?)I_YS,5 MOI],,"6598P7Q@.G=:O1_X']^$/W1[D*H>?AEQ!6(S;T?ROCPYV;7H_(_,*? M*'H,[[U#>YJ%SA--#ZO>OLJ*Z7QBO)N&= HB03)FUBDS;[XRF =.)_VTX@1-KRC1RZG#S@6920:#518P)(!:8?$.G[9T2_AH4I*Q*&['2OC(33AF2U#C8>?1CWKG$+ M\ZYC#%H%*V*@#7P27$R!*R;XG.%6J1&DXL-R!?5W^$)P5\[Y06J%U3+^[DU= M 1,K\0O_B[_YZ+K>LYQUDQWJ/OS^]W=W+?C5O&H9X'/(CV![PA;D^:*?"Y\= MAXT]%6[!?AUP!G%GECW!^DMZ#RG2J"DYM/2+M]'#+6J#*8=D'H++QC*-T="4 M(Y]\W9([][(G(E1U(R/IGZ-V;C/MX ,?H[92) ! X1ZZ_0S>>\JY>LW9J+Z& M-<10?H]=03S&(9(C%BO4*6U&='8#S"@R$Z6J0OF74?1B#@8#-!&4RQ7D-]=[ MN9QZ+S+ 2H=1/,.U?0:6:(];Y).#OTK11L-$[]@W7CS?L5YL"VR/?S?Y/*"G M_@ZOK%Z"183Z' F!OATG(B-N#KNV.*BF-Y>K6_!K< )E#C J(4J%AH,I*#9H,FZ*B"*USMJ[Z86.%;$3J(]V#.*D M ?OSM]\ID\' /Q.>LDWFX"Q$JV'/7Q!7<#$O\$F MM%2AADO+?K(!O[P%J+>!JS$NU])_8W+'4#RO@(ODK MEKJ@&1,] \S^C&(!-R':N$+:,=Y+?SM;2_M5:#5^ &A5,65"UA_3469,J(LQ MGU:ZSY8!=AQ.P&VB17DIBMF5L-/7[5]W^OJU(GXBE@2=VYN,] ML9+#Y(/V^43))S"C'29,+K6LOUF4W/6*H]2T_D)[BT^?8.M $YWK%09-$M5P7TLG&_1^["*NWC#*#A6=X?*LRU MU&NO" _@&\*GH.79 "ZA:\M_.E^<@_J3@NX7SD@42X.C+'0^TGJYE(J;U/! M>Z^'Q0<7OW1RV7^61Y8=^>\"NG^O3L9O?3G#U3 MT]0$G^>!:,&:EXUMAY8!N&8 ! M5B]'INY8*N>"]*Y]/X3M<=<)RQ)OQ.-P8 MG="SXKTZ43C'WM/I(L]]\G#BI&LYK?0@.5X&HD&E+V=E#MDDXTX="XQ7?A0> MGA,46=$RL$4'=] MCE:A,/NB))#ZS+(ILXI+&/ RMLT*-T7 G[R^D+.GQ3&^/?)&WLWK@>4"A/'B#0EB #>%1.QF!"J:> M2 N)KHW%EKY<>68O,#/2P=,S]^JR3DO6HNM8[VPF# M33("KZSSLE3FY;K7R9Y-V(VD@P_K]0,7^6'UVS?#86G#^G^7EQ\\+T ,B8[M M7%["3W_]R_>Q[_SR_P-02P,$% @ MD:F2'FZ#N7N# 48$ !$ !T MW MP'=>,!>$T;/><&^_YV#J,H_0Z5DO%'TD7$)Z/WWZYS\^_JO?_WK^>.-XS T# M3*7C:<^+YSSHDWQ8YSLC?<&[Y_O[?O]/MQZW,D@)I11[,Y MV!LF3RYB3HR>.L>#D\'!_O#$>7]Z='AZ<.2,;A.Z6Q!L0NH(WX1W*MP9#I # MVE%Q^C;FOB?/>C,IYZ>#@?IUC_$IM-X_'D0/>X;43\A>7U_WLJ2'@Z\WA/Z1 M4 HO1_IZ: B'@Z^W-T]:@)28U!/W"14241?W,G(3BSP%>A_D*^MG^.'#AX%^ M:DAI&)0S]B0?R,4<#X "<^*:!@76>5'4XS'@:\B1E)R,0XFO& \N\02%/@ 0 MTF\A\C6$AE *SG)\)1:(LS%A>RX+-,#[AX=#0\[QI%**DP$\311DM(&.C/83 M/27B4RSO4(#%'+FXD5 -U,0^5K,E1U 8!0^3O'D*[.Y-V*Q3,,K*,NOCQ>6\90]_8$C/7H7##J80KN 2X$ M\XFGA#A'OK+NIQG&4O0< L*W:9#(9J3S\(10HC6!>;-@F=5R+R%PN*>?]/6<8P',]>@IWQ&WCDEL+5WDNZ&_0L-4LNIV\5V# MUE9!3)Z*^\G]''.MDAA1( I@>&;0@+S@&R8:(=R"FQW^@Z;PISTZ;.*D?3J( M*LI,KX[JMK./->SC HG9E<]>6YM"VM".^M%JJ"OVCN;?P5N ]Y((UVPX?BB;:8:1 M$W$JO==AVVP.!@&1>D71T0J5D&%#IEWM*QNTL"(* 6[)S$QXQO%+AFN'I W) MN.AA_@=(/L/8R<4U9$$\T#K$"#:AM("0,;VD-$:/.03F5(R >L&?^FZ+-3+T@/, M![4P+:.W"@L[M@=%;'4G"M5L-]K_9CIRTIX0!\Z<9^+1E M9)'1S-,G9+JEX#@SU'[\:_169>EY+7(-$D%^_P ML.#Q))G[AWY-J2J[$)AEX_HZ*CLV)T5L-)_XK6B64P=132+-J!ZZ9XY@Q%Q= MCB_+GLO([""]+T^98>'7G)PLJPXEZ\("-_$S>BM;6-)'=C3^4[:PJ,:.;MT! MT**66%MT[XN#YI]$;P2)> M581VM$H*"CE63I97!Y4M; O' G\+0>//*N\HQ&M+C^VPE-0"4@:.YM"!L=D" MSP8+/8T*/@?[\&]C!1_GG;GJ*K,;-HQG!.'%)LPB9F0SBD,PBL,-&D7496<2 M+G Z5]X; %UU.*5?[=W:ELIP!.>J@)(9K=3!.A(CNZ.K MLZ=MV=,5H8BZ!/G75$@>9LJL)L1YPI0P;MLI_7=U6V>%&ZQA])U$0B',VNDJO=2:ZP8I* MWXD%=&()=2N0,4>=D[*ST%7*,!4654%EMP#;'JV'M!#3P;1R/JGO9F\\^(A6 M>8556-@!;K&OQ3S*W]1]=1:PK@44[GY^4Y=5DWD-3G7V4(A*ZNRA[%'<9V<7 MZ]K%O@S)>(.Z@@W@-B!\QA.K$U9]#P_,O(%T[J&T,ZB _ M:@%YVD^,ONZIPWX-[#\'3N#"C4:MK* &JYU%G!<0LK,)W%-F"Z MTS% 9POK['^U?$1JH;9CVV8W;(=>VWVQE5]S%RCL*-7LDNV 66^W7^7$JJ&W M@M9N[U\'X2J[ *M6P7(J.UP-]@3^7X&D?JC3WA[QQ-''RIVJX]3.>H+ J_. M@-/W9OJP-G7 6]^H;ACPP)QM\"E<.P=,&%S M5O&=_*E[^LP]4(UQZ=#2$PHM!SA&9V'>,%?S:]:JKXX$[ \/^L.3/>C;"+R2 M'-E#%MO)PNC=IL0I'G'82!:?\URKE02QGNA8(45I&W713QNO/A39LT.;#(-N MHGY+SBA5 W&H!J*-&.4GKS84P#10/1\W[]-Z-J9M\$L;#K OA;G33UD5Y(F/ M_=0"G?4>T$*'D>8VN#O"O&< M!=="A(KE_223NH* (C<>#1NL-00U&GMXO++"MJ.!1O'(9]1M1IY55M7:Z'0% MM"-5RU6W*FD43(2^#R@9AP)24;A-7G1)":;+P2T.QICWXI&HI5J2)%(R.MOW MU&,!(G1E+6U:Z3-SFQSO7*6^?J]9*+9ELKKS14H23]K1*^(>+'B@^?U$/Q6C M%T@IU !<,7X52D@]?@8.4HP\#WO/+")ZA/B8OV /:,QL,./[_<4H!3"V4MVL M,7Y%O**U2'Y/N& $=+2+_&@0GF=(WJ+%.1Z%W*N-9W>8)CW!<.OI?S.YE_4 MK4:A'=%"2_>H7"EP>HAR^D5&C8KGJ8\%1XTV'8"7KH;5\TQ3WT^N.-:2?J$> MYEKNT11N!I9 .@++L6'[%:Y?R%<@JPHJJ=A8OHYS-^ MD^<^.(W, *S+*&?"TMS_6T=G72=WC75&((VF2\QTE_\),QFVCX6K:QY4GM36^K MJ=$%FL_!*" XS;Y 3@L7L?YU5-\IZ$DJ'9LQ"O5WEU30DO]0$]!FF4!F- 'P M+\'EJ*7Q4+V-.LJGT1OBM:O)MDW]7V>8QNKKK\A@ZMG_>> 'I6,S0=[H[WM*AR7F+* 4"095Q\@$.J2.?)'@5I) MDV?0U17CZ5@NF:D9[ WQVJT,J3"BSS/P_3/F>VDV#PJ[8%JITLKTC(5IX]-6 M]TP"+%(B;6!F;#?.]8I2\*Q"QHO MUVB/\UZQGFR#[FS+JTFR$><%9_?AJ!*"F@,P053\3UZ4.NFJT++5CKLD4R!6 M^WCO)W&>9 :CZJ%%9P(![A3S'R)>-^_53)K[97X%V9^,/SLS2M92[?K,7U8P M*@C $@%VS*;1+H^1J!F5ND:606I=3]BJ6UA6+*W!Q\K1OEG/S^POOWONDB;9.[NB1N)F?V=DR5]MA.7.A"Y&;?5662WY*D=]4?O%N!X%#CF)5/E: M]'(C>H^:J\*LPV"KZ\$6!BE18S3-UJ.K'^^*@FD FNP6%&E&>CUYFD,<,R'N MA4^H^CMCCWBJI@3C"P6H2!N-W!F!$-9+-BML@?$.K2?1ANUH)^FGOP!02P,$ M% @ MD:F2"$+_\+Q"@ [IL !4 !TYF7G@0 !DDDJF2ERZTI5TDDEF(Z/&,PM/&A+'I<:OU M\O*R]]+=PV3,Z[<[K;]O;QZ]"0C=)D24N<@#C;B6$+)4;38D05*QVTJ>D12? MK96/'],Y.CIJR5\71;D@F",ZU1(*CZELW@WV7"9Y*FR1HRPA/C638DWQ5;.S MW^QV]F;4;W#M.L_<0$!ZG # :,,1C_GCX7H)#0/4)7@( M\9Z'PY8HT3*2*96KQ5CK?;$N?J5WH[LI()(X.D"\4#@E8,(KP&=P@^FV%&'R M0"NU=.[2R56 7]Y#(2G9/Q#[!:1>@&E$P#5ZY@W!! )Z 9@+ WV0^4(J0<.U MS$<,!H-S0YJ&- MLY#+_UZ(=M*RG5BX8SQ&2]W]?J_32;4\94@#L@S")5XBG_^Y9EO+7,4E6C0*0RFM M";DY)/5'!(?KZHL?ADT:CHD/"(_/&TY$>7OP5#S+#1K."X#C"9._5$&+&%A% M]^;_7?X3P6G;N$O/(._Z<;1$!!EU9=6VG,(VN=X/)0;25^X'DXXA@> M@ ^;5YV=9[ C?%RY@612,]]P=A_@4&@ M[)+%56WE.+M#EL13"Q][3_"43X1?[_E4@?%(040)4S&M4/OU\Q\G*=L+Z .O&[(2H=UUQY]TT-,X4L9Y:M$Z'Z &+N M^K;UU!OH#F$ &00B-_7(L/=]@@/>5BKLDKTJF"NN5C&8XG;;9V>Z7*0ML B0 MSJ2YVFM)R61 -@!9G MMT@$?.TNJBR_6[0:8-29=57![ 48 =YJ_P$\ Q05=-7LPCO$J0' ^N2[M'NM MHO0.\6N"T-8@7A842TJ99>VFE/=120#:&9)KZX5OKAPYJPLOPOLFH$S M\\85\;OJ??12(YD5=H%A0W1FB:^*G+-V[F2]H-64:JNALG;"*W788%9*X6FR'&-2"9FLW'/@^G#?EWH7^-3IW MIY"Y00J3*O%06'&'*"X)UM;UPH'G1:%0/O!E:+"T4?\:>3B4V_6_ G8W>G)G MZM23B91=,H?ONR?=Z$!/BAGEAO5]W0WK;T]V\,AY>[;C(E$R]73'\#Q1-9'1JEWC+\6"\\< MW!O2P;,+@SFN5!P5^]\SET)/83Z&4FIO+MO 6XNMB+&_1^,WN"H/LE[2/IJW MP5N&\]"$;FN^(,XRJYA-?K:/3EW%9\6'.9AJX;@?W0#0&(;8\DS5FX.SBMI' M9BXE&;E675!F;%:T.G(#/1%[)X"4F[^62M6>0QT\M5B\7#BBR]E4(BH:))-R M]E%8WJ?J@2ODLUE9UISR@$^ZDD<> RCG@TNE+.8OEX6LE'DQL%H,C"M !J&8 MMOU/JDV/TW2-G>6W$&0MIB7$CN6.<"GB8N>)@1'X\E91"&29AT.(9)*_HM[.P;0W6AD MY#[*/V9WC.F':,;6,V;7B $"*,MW+"NE[./^?=)G.K"U9@V5AR/BG@@JK[F: MJRE!IN0[N_C'(=X OWX,4>'2;/IJ09U5V%ZY55CQ&,?T"L-J%I=$4WEX^ PY M_+/7/Z@(%^?WOT5\#'E;3E8O+.E*$%;3ZQ_U^]WV8>^@W>FVJUM2RVKS8N < M>#R(FI_ V%@1FD*M]"@;$9NY)K=M#=FZ8/.Y:/M>C+_K4J]U=O0Y*:J3)?[( M&=06-T6O7S8KOOEV :8$>'#.$UK*1V;/DC1K?3#CV$0KM3C%^SAQ"9 O"Q![ M=#B6O$Q^=N$/9A(EE&%KUBYMR7>C*^["D,=5(1+-8O.KN&!:WBZAV@ZO6?V# M&LA&ZM%)M55^(I%';@3P'G !YO]?H_5;697)F>*J']1N2JLFMID#S2Q>19LY MUN&E7K:@;2VI.I]FHJF3V#X.ZV8?,NQ^4U[>M?EZE3\MQE0YL>G\:MVV(K6S MS+^[I+#>IXT8Z"4VCR/; MQ,-"LW:YD8R$K53QLQ4TV2J&O;;R5[+\VU)3X6JD%7NILM!FOQI"X7KT!7PP8]J2@JP]R*-0WB*_OCU/8.>1' -:61>'&G7!S)',3, M1-3&(C;A;W4 VX**;-U*LX1-X+F3+:.7,T \2('J/&%AO0]F*)OI13_RW?HF MX8)7(4>P&[K5[[8[3=-X$\0\I60]K]%T&HCK>(4W$ANNR'-.GL1 AGW=.(NGS)=>EH97B^/""YA_8?)]<931 MB']US1JS;@BJ%L>%%^"NQ&G&"?"3BT/TN5;7K#'7AJ!*[AM\QR%W]6T(9N-N M?WW<30ETI,3ZC+XE3AI:<2CR @S5\<):21M[6Z;FCW@YPK(O*OC%R]9W9JY_-QLRCK+EJ M(M"92\S\KB;CJ B)&+B!SR*UL?:R<44'**I416?.:=,7HK[.LZB:?5U9C[%T MSRZ%L1:3VAQDJ9O0-:[&,A>TXX9A@KKLI17O.E$*0RBO7)A?'B_RLV/ @Q;# M.5.GG35G6LB.+X=/2:^+WU]L%;H16WOH5<0XN%MN#V$4)@NF%\KM=MJU*[VD M,K]Q!:_)-!)BGS,PY#?S?LORT&LQ>&CBO$9/+_B_P"6%EYWJROF(UE* ON1\ M,6L$.6G-28J=ZV__!U!+ P04 " "V1J9(+:_&BD,9 FO0$ %0 '1S M.4;;ELSR9YVJ))2$*6(C4 Z;'RZP] 4A(IX<(+2#9EO>QZ*%RZ^VN@@>X& M\,O?WJ=N[PT1BGWOVU[_X&BOASS;=[ W_K87TGV+VACO_>VO?_J?7_Z\O_^O MBZ>[GN/;X11Y0<\FR J0T_N)@TGO'A&"7;=W0; S1KW>YX/^0?_L[."HM[^? MU+ZP*"OM>[VHF4\'_>4OETE+OO>U=WKX^?#34?]S[^SKR?'73R>]P?VRW#TC M;(1U!5WL_?&5_^>5==AC#'KTZSO%W_8F03#[>GCX\^?/@Y_'!SX9L_I'_<-_ MW=\]VQ,TM?:Q1P/+L]%>4HLWDJGV_DK<1<7CPT4?B^+O&^63;OKGY^>'T:_+ MHJPAK&AZG1+^JQ,L*Z0+GQ[&/[*B%'^E$2=WOFT%$:1:XGO2$OQ?^XMB^_S3 M?O_3_G'_X)TZ>TS0O=XOQ'?1$QKU(MZ^!O,9^K9'\73FCBY!B#U%ZA0(+NW2OQWOX_G2;821 MU"+^*_8/;']ZR$L M,+!M/_0"-N@>?1?;&-$;[#'XL>7>,D4@T7BCK,ZE[['!&N!7%STC#_ODP6?" M*"^LQBAK1>X/*+CS*7U$Y'EB<!YU*]0)/'QM?K=_YG!0VOTADTZ0RCR;\>'5EO&Q#O M3XC-Q]AFZZCH]^\>#HS+0-D'(%E$E,7>CN^^3B,I1:T9H(K]S>8P!ON^XT\M[!DD<;-I$_1&3>U/ MT?05$9/$9MLU0.F$$47L\!7M+P5AD%YAZV;U 8VLT WJ48A%VPG%[-^8K2'8 M3W>LW:1U3H^Q_7Z*!_0>(,]!SO(K#GA')T?]HWYOO[=JDO]CU6K/'_46[?;^ M-VGY_PI,(A&K'![?SM#C-3X1"C9H:6?0U:B^D^V/+FG%WU^DA<@.Z^,)G MT-/]HW[BE?E+\OGW9[:7CV;R%^MU!1N;ZY$;N?6$A0[;(#0[0[^P_@;OF,HH MEI5>DKY2J '),L$4?=%JHO,EA[)/'$2^[?47K8V(/Y4+-2'!S\%$2!E)?J1S ME@L&CJN,>= #@O>9I8P:O?O,\L0\3-E%4&&(LHJH &G!!Q TL(,M M,G^V7#0<17M;C>V1E&_!^GRJ8GTD;$ 9473@S5E?Z:<#>K9+D=%0!9)J7@9 MN'+PM=VX96;SS\?\?[#,E4$LA;P"@/>1X#PG*@C%2ND4*PV'B(]N MXP#;ZE3#!JJ52<68E 9&4 Z";9%K6P:.3>(!B'ZI47?80[?L3ZW]2!6L2?A1 MI"/G0-@@6V@L$G.R)N_86_W5]KT O0?7;E3TVQY%8_['ZG?7I\CYMA>0L"5? MZ4/(]64X&C*#:O&HY'-,H@PK1?E&QXMNKZH$3\'$C&"?X& >J0>$091:7"94 M1^EB]);2$#FW7FJQF6,[I&^B411U:S7U$"S$%SA@4Z2RO8"-%HF ,A3EY1N% M[*029'(FH.'S2'P;(8?>,#8YP3QQFB>U9G=MTNUJOLJ-(G=:!;F\')F#<3.9 M@W]9SMT#VR;(P0$?Z&^(LNKTQB?K!*7FB#6HJC;6*'2?RT!7E4,]E+\<9F/M MQN+OS:60I^"2AO(_'7U:#^5'!/(@?IK$GN4YO121O165O069K.Z2TEZ*U*AN MBMA>3&TO(K$,*FP M @^^1Q;_C(2J2BXPV'XK>U&+3KA*LO]=_PC9R',C)94[UE05X&0G&$<]L[55 MB # *F&5NRPF5/Q5Z8FHUB003Y]>U=,@5V-YIP;K38)V-#:G&E!]DO>^A^;W M%OD#!3>AYZCU0%88@G?2A-JGP9;Q"@"SI9&[F","!/69'Z'WI";S\PJ*\/)2&G*TBK% 0GV MM'YN$EUXQE:T <\ YU!X[9B6\_L14>Z*A:X3>?#F^M:;A0&-&.[GL]*B&E"- MLU:_A<"*. 2 V9WOC0-$IE?H57>D3ERT!)\!R&KM19A"94WY9Y086T@GUHR*:68(MU M6Y06^&C-N<&\9!PS+8T%8"?_4)N12BU"."%0N]6H)"%H"I1.WEY;S^=(8-^H M <$0&!@3LO3V#7ZAP+("%"6$.X^(V#PG>2R;^HLT ,$6 M& :["/O0L.?\OR0;=X6O:%4$PFQM&+\L@] 06IL^!"L,:;IWGIH0#GL9QC,7 MWRV>1I'>U)^2N?3PR/'F/9"LO1YOL,=:[$5-=N6 !W_2Q GY&:&!%V 'NV& MW] S7U9%*Z_K=]L-F11B,SJ=A?'!F.'HVB(>6W7M%RV%W/0 M\4=@>@ UH)EY;")^B409U%24A^ 7R*OI:>@4+ $ :.UYE)R'QMJ[R4BRAR\# MC(0= *"L;5E6#!5)"-BL!6&S7@8H+6, (*MH#W29 N::;R])P+2(,E>_&%ZX M=S5)H"+W@RF_4:(>'5RT#==9=/J%\J EL>_A&F'\)23%@YZ\*Y MY$ _@^5D"1QP6I^>O#B0::V0(LHA ^:!-802:(^K<>3,^TPEETJN.A^.UM?6 MMU[@IR[8'HS83'^%[&CF/NZSMDZ$9LM@NQ!,G$Y_EQ=.FF&Y]FM$563^^KO:5WB-*7B>4]L!UF,+_&XTG -H:7S)8,1R\6&2.>2(3] MO8@#9W;6\:%/'^*/5X^>DW!L_', MYLJ:JURL M!=IH%-TOM8Q&,6/=PY9]H\B.@LTF8)8UURCBY_4B+N.Q>^"O%GO)LRK12N&% MX/%8&NBJW&JS_L*C>G5!PVNK%GKY&^OPQB(KBT@1;";[J%9!2CE4ZJ%;VBF8+'/ MOWZ?(6:\-/EYQ>E/ "'1G%R6E@20O1-HUT*6&">D683/S/S_TT2 M+#F-/!N1&X-'@J8XG,H27/7U(/C8"\"5@R/8X"6OV?%YG$I?#597@>"?+PW9 M.C/0T%IC+-_,!\/?7G[6:S4Y.UJL7E@4.3R-G)$3:4KT-?WAT;6\@HG;GS<3 MMZ-F]Z/>>NG6%S]E/T9]=B:U>WEB)#Z0N2[1 2&6-XXOVKZ8K\HD$;/!3XLX M^>X9J-Q^*YO@UI+<>W\WC-_Z&M,=*?9(GONEJ0-AHB95G MZ<70L5"+ Q(39+/"ZYV>RB6MK0)ADZ01M98': OMI=?DTK4H39S5"N.L* _H MH$2=EEHA 0!XIHE2VA)102#F6ZN3F;-) CX@X+"* &C.AVV4@V!1Y&J4/1>V M03P T6O'O&S(;SB.U^<^ PVWF/UL3"SB"Q(J3[5=3;0N+=B'D(^91')T$ 83 MMC3X[\J#8DK]Y/U 6%'5I)?FA55['-<4S6\6=OF0NO')31B$!/W*6@CHP'&0 M\^+'A9X01>0-.:S,+:6AQ=:KHC5YZR1!\+*;U5 8B 3K13TG?W0O4+6_29&82VTBB1VY$2Q0]?T*V/_:X M8K")"_M.%$3/%[0SVE<[D7FFHFB5;)40JG 9*FM #._5H _9J+]"'@ ,GH0^ MI3=14P>(8S&'[N8 "I"7T3A4H&.*)N&#>K$UWZPQ ?'G_*[X6^K^C-.>F%;= M+!;D$0"R9E8$NOB"\5[:"S;4)#!QY,'H>JVK48B$/^2(V5$DW:2C[FWX=YFYH@DDZE]]Q_-:&8B;]QHR M?M:X!K >*<_DBA?/R95S6D]70!P"0ITOY%,NQ?U.@ZIV!=I/T8I6075H;-E+ M776.F^Z\[K5+L=NEV'5"WY(MRC ,:&!Y_$Z>)]]U;WS"?S2M@YK.(&R>@47> M-1+;FE2033[CG(/Z-7#13R=L9Z517)-"+@2X;;H8)PK>>K%/[%?B4^,V6=53 MIR?#QO51*$)P&LF7JCS#%#E7(>&7W4?4QKE4:<_D]3LB-J;R_+<2#74Z3[BX M/I60$#AUJ2@M)IX1PCSG>3DP:IK A#UU.MNW\0E,*$*0&OFJ9_)5PN1OB 9H M+4-?I9+&N^IT;F\YG30N0Y!*64&>,9<#S^%12_XH^8O//S6U%:7Z[8I=(K%?R+^GT,K4I'U!N:7Y0 MU6Y7G[?.EU1P%FE!Z3NHZ=)(A-"C48>VFZ1@R[Q5=6J\2;%OG=8O^&M5\0L2 MT>DE"RS=+RCYK5-_@1>HC0%0F(PM\_6U.00*RQ[N1169G7@!/6ZLURUS!Y90 MV\9$W;FINK)[J84-:E6BMLS#V.*^M2H2VS9<5C>'K$[04,UK.C7WV>DU2ZV> M1HW@H.EFKO-N#_REJ6A,GA]&5>.- ML[))]X.=GKSTT3L0V^03A*+1$RN).V3XPQMI;A9X3Y M[]]9)X5/W)X4.'&[ZB\Y?!OUN#MZ:[S]W=';W=';+3XXN3MZV[H&B4S'T_-W MW>5.JCJ=6%@;.AFI$04 @,UM>W>G(W>G(VO4M^L?(5M3KUZRI\-@@@A_R#K9 M%RQ7\#6>FBQ)1*>W7?7XMTI*$IH7H0'^ZTEY+MY_)^QV+;-'PPJ_=5:-J_IZ]YV>KCN@Z>OR_CB*GF24(*UU?3-2[$;,I(,##Y,-L%\I,:] &VD<: M7XX*XS8QQELJ01Z>".M&'&=7NIMPS K!M?6C+%=TNXN M:;>KF9"KEN)*ZT.ZZ:1(/3V=WK2 RX_4R_O##(5=4O N*1A64G#FTO;'D-@3 M5H)G-!7-##XMD!F\Z#3)"UYTV^/][O*#MR(_^#E\I=C!%ID_6Q$3'&E%KK"B M_ ?)&U9( (!)3-'$_Y7 M3$!EZ>96/>EK)+M,VUVF[2[3=N=R K!3V;F<#.AF]@;D01A,&%_R\^$U] /" M,#:]6ZY!CMNJDF]L"\L-QXU/HL!$S9JYV5VG)\FV%713G-#T=/O>SJ[I'L7" M.M2!E[09/=/DY>S47JC@8?ZSH_ZZRRYN-_'*I5ONC%,N8,!Q#5!ZUM8*M?/P M4$+#I6M1FL,])B\/R#TFE'[V$2 I&P#FU#112I^6J" 4'Y9.L=)PB/B @,-J M>E-ZK 3E("S+Y6J4D?TF\0!$WVVWO6P9JI^7=K[WMN>M+?2]WSX.E?-7ZG<( M\U8Y/WN*"0 B?R3XC0WV1]>RHQ&OE+^L,(BMZ&:("[-UPL_ M+SO0)B$QW>M+3^F:.U_E1C$\JS(]Y>6HT8$5F[F4+CV@8#A:D,<3EK4C+%<3 MC<+TQA:8"',S9". -W*#K%12D*:+ZS"ZJJ;:Q= M^)6]PU$J>T 1VY"4!11O+8!0>L4B80S TC*=C\M&Y0.C9/4EG9"@].L6;@5( M#$2IG)D4E:(,?E1H?_]\?'K^I=\_.SDZ/CD[/SX^/V\";32R0C=H"VXATW4L M8;*SCA W13D((:^22KE MA*#O'ITA&X\P-)4E!""'\_""I.*G?*Q^Y(8>C&X*B[K][C*F(F,&8?1*$ M2O)7@Q!V+PA#+KZ@1;Q>V%SM!;?3&?'?XLV"S&4D* @AT%Y\0A-Q @V6+%?T M)N37 MXS&4_#:7(2B%Z%2'-8N7 K$&+[Q0$MS&9'T;X,"9&'GXLV F&I6%+- M2X"_9+NCV-]Z+S_]?R-K(TVG0COPECIU:D":\XXJ037H(2ZJZ@2\Y1BLRU#R MR<9=+,4BL'U1!#;5WM"FQ]J6_)QV7^<+UIKKJ/ST0)%],/;? MF,9A+JL3_@<7T4E*1.P3V\Z-+??:8SHP%[BVA24@!FY-8\MG "'SQN;OO #% MG0N=IYL_M^S$5BC40J!9>B%+$Z3GN:"$&W,OW[.A^P=/^9I=^9,I,TAD)G>+E\P2AX(YWPV4GCU;*BT,,6-8QO^LE 115 M921-50%(C%.GJ3IP ,4Y#<(#TMZ8ADA>'X.;2 MJV1F>ROE!0 N!F9]7?#4;!?MA5KK$)4X,&O.%'?U=/<3HHA!,V$,7Z$WY/HS M3F!RH=GUN^V&#O;& _M'B$GT3"T_-4,I/Q(CT<)*+4+PK-:M?I4$5'ML6LH] M[Y]O&!AM3\A&^$W@/RK5 @3G:EV8EQ)(FP^"A*\4_0BY/KZQ_Q3SN7[:]+FN MVNM%#7;&TYJ5@])7*BS:UD5=:4I8?YIKNH2E ?E$%2BL7]4E9 7 ND] FSI[ M5%X>R)97HV8:8 !M>->H4^Z3)&4A;)*T&J9 !- &:3NO&2PP@^TN&VQ[5MNV MRP:[=_.=T6L(:[GY3K)M^@>CAR)/'BA:*P!AHUM,JB(N:M^-_N,_CJV0:>I7 M"+O(,@)-L0 MN6IY)"A^@9O?>.][T:8XQ\%!<9T6++,,J[R66-WS2M5KQO7S:?&M@7]P*_>MONQ9=G-PD5FWVU<^KZC/=>.SM#B$8XLE8:OM;D;C$%WZ;&WM MH/C<23S1(&=8; CF:0/$%&UL[7WK<^2XD>?WB[C_ 3>[M],34>K'S-C>&=N[4:W'K+SJ MED)2V^N8N'!0)$H%#XNLX4/J\E]_2( /L(K@JT BJ?8'>]02D"\B?T@ B<0? M_O/SQB=/-(I9&/SQJW>OWWY%:."&'@L>__A5&I\XL_>_V6 MG)QDO=\[,6\=!D20^?;UN^(OIQFE,/B1_.;-;]]\^_;=;\GO?OS^NQ^__9XL M/Q3M/G#!5JRMH<^"7WZ$_WO@# E7,(A__!RS/WZU3I+MCV_>/#\_OW[^[G48 M/?+^;]^]^9\/5W?NFFZ<$Q;$B1.X]*NL%Q"I=/O\$/EYQ^_>Y#SRYI\/VF=L MWOWPPP]OQ%^+IIP0:R"M2!*S'V,AWE7H.HGX3JT2$6T+^-=)WNP$?G7R[MN3 M[]Z]_AQ[7W'K$?*'*/3I+5T1(?"/R6Y+__A5S#9;'Z01OUM'=%4OA1]%;Z#_ MFX ^PB<%#C\ AW>_!0[_DOWZRGF@_E<$6GZZO=0J]$.%5M9)&+#35WDC]9'C M 3I?\9\J:M'/"0T\ZN6* ;L&TD(:\1D%9: =NA6"/GRC,*H:*HFC\ 2&ZMOO MI*'_!7[SM[/,D9:!=QXD+-E=!JLPVHAOO'R(D\AQDYR0$%]2ZMJOIYE &6"R MC*H:.9&;"\%_;#%0UN*-&_*QNTU._.R3B>ZK*-ST4T&*$?;H]#?_8< 0R76O M*![1.$PCE_8:&ZJ^?;]9(3OO"?!+@Y-/=SV4^8^<"7$"CT@V1.'S!RE>KZ&; M<14<5T[\(-CR>>'1<;: OK]Y0_TDSG\#@_PW)V_?97CR+]FO_W:7Z= MAQ)%,OMH&R$=P,U*P6BM;X%P:+8(.G0<%N3(SX+@_T,P\CCTTTO^8]QF K7A M7$;@@7*UH[!H-8>1>"BL@=$(1(F@>C DC6B6\$":7DVKWAF-W8AM >!)N"+O MTYB3CN-C72ZF[NO'\.F-1QEXV_?P SC9]XJ3\5_]34XSM_21P206)!^=S3[ M-S1#ZF!MBH%[Z=H@=*Y648>.O2S&**D2(#OMT#OEWA0Y_B4/XS__-]UI53]L MAW[P:52KCKZ]1JB'GT[6(\=?1I8(NH03GFH$Y@'W/2=;H_3>GQ&/MSI%\F&F M_@WIZ*H5\>A5%%";>B3=T(B%?(GHG?% H4'3_78S&%NUJNT/LDHCY*.M7M:C MAYTDR]?O'@'"4XW )6?N@0 7OO-8H_7^WQ&/N%I5\I%6^2/2$58OX]"155 C M0&ZJ\72:1A%HP&+7\?]*G4@/:@U-$8^R-@7S :=KAW3LM8H[=!AFA(FD3(#T MY""7A:%2DENZ#:.$!8^P*D_W-X8Z-$<\.+LHNK>.J&V+=)!V$OG8544V7@OR M1-*?=JQ>,)]&I]Q%'L-(O[C=;X5^9-:J51V0E2:HQV&]I$<./T&4Y%0G!LAP MLPF#NR1T?[E;.]Q@UVD"Y]&0%J#WQN9.Z(=D%Z7W(+.A!^H!VTGP8^%3\""" MR8)(-D3A,_7*N@QH+OAOZF9[?4O$8[=%O?WU]5XSI*.T3=JCU]AJ#"I(VQF- M#L_'IUP0(GN#?T0SC&!XD_>#<@##P:0$(H_RD.?>:)#-#WC@]ICSQ> MH#2Q./:7<(A7DR,\Y04OI(:-H9=N) MLGV43KYTV'86+J51\="S]AJB=S"=O,>-R$6QMX;#X4QKF6OG".H_VG/ 4R=> M+P,/_G/^:\J>')^+%2^34R>*=GP-_F?'3W7IN%W[(G?07B90';931\0.W$_^ MP4.=DQ?IYN('A=&". G)>1'!;!07W^:'\$UN/K$M7/B!EHS %)3_/EP1*>Z( MEN#!>Y0@M\4#?61! .-B7(NTPK]E6UB,S%PW3+D$M]2E7)H'GWZD239MZ:;* MYB[(IX$N"E?"M8;VB$&_D]B#@[>,."FI+PBG7X1SHSCQ$XT>PI8H;A*MHX*Z M/;^]#)ZX3F&TXPIJC+'7!+E?UBFD^J'Z=\1^5ROFT!%7$!/>96=F'$4A1@^F M/#/:A(GC3Z;-/7 C3*_3='!PG:QI5%G#:@Q0VQ Y-.B54P'BL!5BF&@0=NAH M%"3)WKZ*')/[7-6F95DM,6%E>Z M#!*N!N/!M-223\SGGUT_AV:^?C+OU!6YX_4Q0#4@;N^'V$U[B3\\ MWLR9%!,CYT->%9Q(SNH;6TO6J>W@9'8(#A<4TSG]311N:93L;K@^HA+*KRG; M0J*!?C7;T@6YDW=16'7NIO:(G;J3V$,'<4Y\001Y6=LF9V!QA3R)TD);6FIK MU7UO:9Q$S$VH5[]O_I$[1&-LW(L D+L/WL"FDW3G'*/R=#FDFU_N&+. _-9PFC,)U]Q\VP=^AZ'")B$ MDUU+"FJ/[LA]JJ\A5*_KVA>Q7_968>BP5Q@5ZU*^:+.=U6I-_UAA];58MR9' MWUPV @?=/J&^NHE^RL)BFGJ=8W3@[ M2*_JEH=XT!BY@S8K69=[6&V)V#%;!#XZ\RZC:SF]86PMMY*N53>,4NH=PH[> M(-KV^)VQ6=4]?ZQOC-LE6V0^8KP"95(W95ISS)%UI9^W<%?9XM+VC*XHU\F[ MI4\T2%NF2&UCY%[9K*3JDO4M$?MCB\##B[]+LB2C:ST5?VP]HUQ/S:;RQ =*?6OD/MFBYL'QQZQFR3:)CSL>P#-#CJNG>[B8Q+3ITWEUC=\9N_GAK%QP MA%$YG=^UG:Z,H%PUC1>%RYV& 8\,$L@S_!@F-%\@:VRB;XW<^5K4K-0.J&^* MV W;)#ZBS%-.EPC"^6:.I0O?$Z@9 &'+J7I[87AK9DY3>^1NV:IJP[IQ%EDZ M[3*;6SV.G*W3?P$YAK;%&C((@Q-TZ\AN672Z#LB=M5W9I@7E+-RU@] &EY4H MTNO&U%;Q41S1KJ)L>]2/WR-KU-&L)1'[7)V4!E:/UA>-AE:+*/P&ZL&S9",* M+ 4>#YCA20T:N'H_:NZ!W*\ZJ%M=,6J;(_:[+E(/7U(5M.5U#Y7Z:UO+Q^GT M=57JY!4L5\F[MP<75J_Y MG+K@OX+_D5@^4N2DR3J,V#]X-RA6&B9K8HC_PT;G. M?_7;W_.U:DZ""5.2,")A^>)1+VIV _7L<:C&^M"'S9 #A$ZQ_3A<;8,8&K2B M'A.!EB]VH0"%L71L@@-S>/#]V\6WO_MA\;M__T[\^?OO%[][]_WBW7=O]V " M_KB'$UT8+ BGL:5NPIZH;_&>S=+SQ-LPCG_C,.\R.'6V+'%\Y=MIOFZGCLA! MI;ORE93BUEZ(@:>'\(,3;PL6!'@0%I",RZ+RL*"EA.-)#;#E/$ZX 5S)Q>K] M@'23^O!.D]B;Y_IN([JF0N1/!>Q"Q(NT973&7Z4M)=>B('#BZ*U\M'=76"S$\]!!^>&4D MR8+D/,@KU0]3! >Q"W<6W6S1&^NY,N,H>Y! M@[#.3?7DA$/I=22>Y@M['3L4M#9^1>WL\(^@-!74_$'M]3 6/' MAIP3G'!)7O*\ %ZN)X*=K:+,$YLB.T@H#A#(*Q80+_1])XKA:4.YTV\Q:Z=J M$:%^O"P.-#J9L:;3K,! I[0>!/9[S,;YM8(;F0?O"6W:>T<\U!_DN<;5K7HMJU77KL=>E^?] M/0Q5[35#WZU1N\V!E2XS\^(ZR4V[LL(#CS^/HWC5J4.]XE9RY7JNN[OU1.[A M/=37)-G-<+G=1WHSJ7@(%]H3&@']$ENQ1WGY*XFUXKU/FM]B3R%S@@7QS*;5:P,-NV/K^A;(W?< M%C6KCW?7-D7LKFT2'U$PSX.2ZJ*N0QSZS!-KVX)1#&G:UWQUY\ MB+P"A)JX M?&4U#,2*!? MUM[+6Z=AG%RO1)1[%_KZ(\;]5L@]4*-6 M]:"BT@2QM^DD';[)&8MR$X(B 9+VZFB-HUDL%I0G9"L776C<:[D)HX3]0VP> M=S/)7H]YN5V=N@TNJ#:?CSO62FW.-1=$96#KH'!\C7.794'""8D7BYPXI@EQ M&M2?R$' MW8YJJ\#:T@4Q>':5?.CHSNB+P5WED$.D'?0;6^\[ZO-_/"[(HV( I\(*6Q2V MA#@QQSA1O?!^[03WZRA,']?OTY@% O(V#RP04>1?(I8D-+A>K7JAZE%LD$/' M6(9M#^*&\T ,3J.I:CS<$S*5$9ZL59IPL4@F%\D%(XID"Y+)=A*N5IBB0(LF M5J+DDVT6)4<=PT6+IS!=-[WQ8YA6M<;3%L0HHI?5W.F*G<--\YK)4TZJTX =+D7:/I MI=E'FP8S3&LE)VC6HMN4B/'$Y8!@7()BKJ_6'-KFZ#&D6=$JF-2W18TJ+2(/ M=\.<<#:%+TA.V\Z*=T1-,Z=D@JX]G_Q(DS)"63XYS(="[/>AK4[X[L@@K,=D+!A MGKJW>J8)4K!H.QU$YB^TY-6LA%ZP!\K\--&6B&GOA1P".ZJM0EY+%\00UU7R MP6G'^0M$1;&V#++DZ8#D8@>^QE8]=^"R0!MQMEN?N3F>NTK9B@PZR EY**SC M24'0%7O["V6/:R[8\HE&SB/]F,(KK=8!+M)&V[ M]2SWGZ3,GZ-LN4K6K2=R\.JA_EX]KK9NB&&IC_1'5*KJ\C+K0O,ZG/7[:=/; M"##%XIVUI@=J;^ 788= M[5=2\F]$V;4%R:07L8ML7E6 9!H0H0)']$+(!7D0:I!]/90VLMR;Q4>Z9_KA M/@41=7PHJ2RC46[4;?:AP@>?/5J^VM7EO?,;N(/&;:-$ />AG/\'?*MN5&<, M\#W,UA6I.Y"<*>3VT9/AZ=>K$ZPL_?&ZKD=32!;D[=U&X4BJS MH3UBA^XD]J@%JX$M$7RMYO: &#=1^,0\ZKW??8KA0G*1FKQT$_8DGC+GBO!? MI/QW9:'M%C\P1ARYQY@UXEZ"D '*B+W0L(+''$ +=\P%(0\[\NJ3/+#YAI37 M!DIY%J242*T];WO?&8E%2Y,Y!4-[,*?LGGSD_LSM<\F!.+X/;RGX-_-I)6?I M/NQHPA8 G( M0)#6(/M@PX>DS@* ;)_^_:[#+#A M-W\[HWSUYS*Y[QU4"IO5WR3KW@LI7/94&]"N8Q?+8.6%;@K#JZZV8E\-!M]Q M6E/B/#Y&XLY8?L5)C/7'0!Q_\"&=\#9N&HG, 3ZZ6>A!N86$.+X8N!Q+1(NL M*EZU%IX\@-JOD"=<1Y**):V'[)1+7,_DOB0HK?/FKT>!J+K)8BJ[JRQDP1Z% MB9UR/=945\LEVK]EER?Q4@]VVK@L3:5/M8V18FDW)2L[6+4M$8=Y+0(/+C(% M9$_@9_E\6D[8TGLO(RD)6969DJY"V+Y7JD!TO;I@@<-CL> 1J@+&(E\U=L.4 M1VJZ8+-[=^2>V]<0E<5?Q[Z(O;NW"H.C?W52XL%(P4K4$8VSC.Z,FZ45U%2V MX.NS$['(P707WHTH%^Z,RO\J2\%39\L2QV]_)+4[ >28T-\8>T^I=NR-&!<& M*#'\[KED05[ES+Z!55*YR9(QM+[#,J%-3M>\'[QU7MD *1> /G,>F#]\,V0L MT%BZ$B)OJ4O9$Z0.=+9E;=?9 87> ,T0<=AO5N#0(+YA6,@YD9*5O:H_$YBA MT#?2ZFO3X:$B2<"Y,6T9R;8^LW/Q&I6;?5OI,"NGKI/;L#XAC[4\[!&!1?>HI[[S[!RYR0@M 7U-SUFY=J,"I@-YD3.MG)D*;GCFU2_TW-;K M:=FMHY0#7[DMT,=,AUWGZ-P: [3Z]UZ_N;FX3GSS7@Z;E&]687W^LT*__6R6[8N7,V)..#Q;--JU_H M&4F"J/Q:WFV5>6%#)G)]_]GY>8LI.BS.#SO/RN_;=!AEB9[QPSC%CV4/J;BO M5W@NM^,TECR:*'+H,&,T<[?@$(.,(<7LWWJS5F?:MOE:[T6@ R_Y7L%(5WO[ M$Y\GF TT8@=0ZTEY?N V5,&10*X09[Y7>Z>V:&FRXV!.<_OKQMF)"VGW8?9V M)]?72UT>8[JP[[,,O _,YP*$ A8PQ07Q@;0P'Z#[!B5AKK M+=SOB>6U2;@7!O@2ILG*#Y_)*HRX8W!)8B9A(UR1K12)KVJ$3#)A<).+!:<7 M\@ZFET;@5T SHEM(?>;_DI?()KX?9L.J.2&X.9=Q)1E;DO$5ABLXD[S'U"?7 MUDRT+ >6.JY<*&T.-6:$?1+JKH/0#Q]W;0/.7G1:9SP^T),=5,-,N.W.^6_% MJ\R:R; 7 :2P/MP8:B39O3?B:'& $H9A1G!;B!JTR4+X2\'25F+,E$;AXJ\= M>2EYFW$11J Z(\QE)3M*,(T?4\P8S=R*%3'V&%+,_@H5U3;% M+J5>?,$=\<[QZ?5*>;Y35/J]C..42T#%9>S:!7)O$DAAZ!B#E%MO_?JCWW8; MJ([)+3<6R!TW**@$OXRY'.J[:R *>;5Q=O"&MI]Z4%R;^XGCDYOTP6'FC:<+M2M5L(.WU5LSF MYY]IY+)8^V9KEWY()[W>JE?V)-LZ(8Z8N\MN!C($#Y(Q(047.\'MU,K3C"Z@ M@82!<%N[ES&7%?LHBP;\*&'&:.96YHCQQ9!B]E?BJ+8;IS2?6'QL%?.M#*W% M1P6PX]'J14'3D3CT,D#'!L+@QY)1K%+<\^#K' $@<+HJ?H CUB>^(K*:D)$7 MJ"].;0*O@%11M;[M**)'?^R T=<4%;CHVADS6/36X8BRF_()B/+,CGM%&8,( M;O9W_*>T1UZ&5#6(J?A"L]>?7:VN[/QN.U/F'&J+8 MW^_1%_O>_A!5!A]CI4D:[:70PLL)SDYDTE:V3,4>:K:#O[-#C85IOR M)5$N+MB'>N\T$\U>$Z10V:10]670\N^(HYU:,0?#F<,BPH/Y5.YHPAL&L1BB M(VWH=GB@VZA^=\H>;;EY6YSPE!51$3G>=?3H!%D1^?(]5OGZRXT\5*X6F'?\ M\J76EF6/*=K(7=VH"56,,$(8,;B8U6]XD978C=@VOS;R/HU90&V^JOW1@:CO M>M6^$UG7$+FSZ)6K;!0\Y'WBZVUOGE- MT7E?5C:1A^(W'(_<#@_9-G5 [HWMRE;>#]*V1NR='80>.G;?.S$3@9PZ68D] MJ3OV&+ 5V@N0!T!.AH#'TD2N8>8,)CJ M0\?00^QE1M2:W \13*GS-)P] #MWHH!+$M_02#R"V#(Y-S1'#CQMBJJ@HFN+ M&#!:13[F@!T>#(?=%2)(XQFL;5-I4_N9#=?&25#;>$8#UAP*YY3)33YB$FMK/:^":0]V"."FI(YAF)M'9JK>>T8>D\^RB;8S<0YN55'VSOB5B MKVP1>'B:!A^<4<+@-/ACF-##F[.VAFC;7*)O/:M!VCB#:)K.9IB:P]"#<6IQ MF!;JB8NY\-*-V+"ZI3X4"Q-956(] 9)[>7VP-L0]EBCV06_$:!7?.(HB9AJP9IG3^.IOI27*[9;(-\KI[D2W"Z%LT&YQ^4JZ%P M5?$[DHD@4XH79?'L?.7S\N9:K) A9UJ'O<>>5VD+HW'V)U:<_\G';VQ0'2?)= M.B,>[?UU. J),TY?$\E+K-EP;?E-9Q"$R' 9N.&&WCN?>QPX-?5 [OT=U-U[ M'%'7'+&'=Y'ZB(OQG#;AQ"T__KFO8?N)4V.7^8W;EA,G??MYC5R3IR_YT,4U M_TRDM%U_3;CXL&>[C&.:Q!]IF>^W3CN]2*#WY_X&J?IW M]_ZH_7V &L-=(6=&)#<\_M!G&NO2,F;E-4 M^"%WD+89L3>1E^ BC?-D/PIS=Q*SVW-:+\$UDV*RC,':9N5KG*>ASZF&\E;W M\C&BC04^>G=&B@'#C%!4->O<$WM-L_Z*#!W9P1MGVF)DTZE6H4^64<3)4,LO MR2HR/5%%I#[3?1\*2/W\"'-4)_K.W5'/\OVU,. 33U3U"6S3NQ63H(&)N_0A MIK^F7(CSIPXYLPW-D0- FZ*5Y --6\2NW2KRX-2"@C"1E"W>5MA7LC69IJ'] MS(9K<[*,KO&,!JS!9)B]$6LIUV4R_>S7%-HK5+*3_]^Q>E![9^2NVL\(-16! M6GHB=N*>"AQ=K*9DM) %:7;DY^R_UB/)J6VA%NZQAP"?8GJ].H\3MG$2JJM6 M>= (N4?7*Z5Z;K4%8@_5"#IT]'V23](5!/&YX<@*6]S0<>(U[&7Q_YR7+^-T MFVJ[]D7NE[U,4-F^Z=(1L1?WDW_P_D3^_)+X06&$S\LM&\0>"D A_3]#'7VE M,O9EP-?Z8IL_LX#&:%W[(D>!7B904:!31\0HT$_^HYYJ^'/^5$/!B"B<\.$! M&M/80X9;^D2#E-Y2-WR$YV7"H%MLT*4?$QY5X!@<\9E\L/MP YYY_AXC5MG/F[]43OY9W5K_IY:S?4GMY= M^N/(0H:["A61L,#J^?:M8O=1P R]+Q7&]'1JAH&M?Y�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