Took $2M in amortization income (related to the Sanofi $15M milestone received in 2013), a reduction from Q1, and now will report amortization income thru March 2015. This extends the initial window, which was indicated to be 15 months, beginning Sept 2013. Good move, as it smooths the revenue lumpiness that would happen in Q4/Q1 as we transition to PA.
in Q1, company stated:
"$3.0 million from the amortization of the $15 million upfront fee for the licensing of PA. "
To date, they have amortized $9M. This implies that each of the next 3 quarters will report $2M in amortized revenues