Foreign Currency Remeasurement

6 Months Ended

Jun. 30, 2018

Foreign Currency [Abstract]

Foreign Currency Remeasurement

2. Foreign Currency Remeasurement

The U.S. dollar has been determined to be the functional currency for the net assets of our German laboratory facility. The transactions are recorded in the local currencies and are remeasured at each reporting date using the historical rates for nonmonetary assets and liabilities and current exchange rates for monetary assets and liabilities at the balance sheet date. Exchange gains and losses from the remeasurement of monetary assets and liabilities are recognized in other income (loss). The Company recognized a loss of approximately $8,700 and $8,400, respectively, for the three-month and six-month periods ended June 30, 2018 and a gain of approximately $6,200 and $1,300, respectively, for the three and six-month periods ended June 30, 2017, respectively. The Company does not engage in currency hedging transactions.