Licensing revenue includes licensing fees, sublicensing milestones and fees. December 31 Licensing income for the fourth one fourth finished, 2014 was $0.5 million, in comparison to $2.0 million in the same period in 2013. Licensing revenue, for the entire year ended December 31, 2014, was $1.1 million, in comparison to $2.7 million in the same period in 2013. December 31 Study and development expenditures for the fourth one fourth ended, 2014 and 2013 had been $0.4 million in each period. December 31 For the entire year ended, 2014, research and advancement expenditures were $1.3 million, in comparison to $1.5 million in the same period in 2013. General and administrative expenses for the 4th quarter ended December 31, 2014 had been $1.4 million, in comparison to $1.1 million for the same period in 2013.The participants are part of a more substantial national research called the Osteoarthritis Initiative and so are 49 to 84 years old. ‘We’d assumed that people may be overstating exercise in past self-reported data, but were surprised to find that the physical activity rates were much, much lower than what was previously reported,’ said Dorothy Dunlop, associate professor of medication at Feinberg and lead writer of the study. Physical activity might help people with arthritis better control and lower pain and improve general function.