ACQUISITION OF ASSETS

9 Months Ended

Sep. 30, 2014

Business Combinations [Abstract]

ACQUISITION OF ASSETS

6. ACQUISITION OF ASSETS

On May 22, 2014, the Company entered into a Purchase and Sales Agreement with Eisai, Inc. to acquire certain real and personal property located in Andover, Massachusetts. The aggregate purchase price, including certain fees and taxes was approximately $15.1 million, of which approximately $10.1 million was paid at closing and the remaining $5.0 million will be paid in two installments by July 15, 2015 and January 15, 2016. On July 15, 2014, the closing of the purchase of the real and personal property was completed. In connection with this transaction, the Company recorded $14.8 million as property and equipment, $2.4 million as current portion of notes payable and $2.3 million as notes payable on the unaudited condensed consolidated balance sheets as of September 30, 2014.