Annual report pursuant to Section 13 and 15(d)

SIGNIFICANT CONCENTRATIONS

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SIGNIFICANT CONCENTRATIONS
12 Months Ended
Dec. 31, 2015
SIGNIFICANT CONCENTRATIONS  
SIGNIFICANT CONCENTRATIONS

3. SIGNIFICANT CONCENTRATIONS

For the year ended December 31, 2015, BMS, Aclaris and another third party accounted for 60%,  28% and 12% of our revenues, respectively.  For the year ended December 31, 2014, AZ accounted for all of our revenues. For the year ended December 31, 2013, AZ and Daiichi accounted for 80% and 20% of our revenues, respectively. As of December 31, 2015, we had accounts receivable from BMS of $203,000 relating to the performance of research activities.  As of December 31, 2014, we had receivable from AZ of $5.8 million in consideration for AZ’s decision to continue its development of R256 in asthma.