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Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
Summary of Quarterly Results of Operations | A summary of our quarterly results follows:
(in thousands, except per share data) | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |
Year Ended December 31, 2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenues | $ | 138,403 |  |  | $ | 183,580 |  |  | $ | 222,094 |  |  | $ | 244,010 |
Total operating expenses (1) | $ | 239,400 |  |  | $ | 149,119 |  |  | $ | 131,996 |  |  | $ | 195,289 |
Net (loss) income (1) | $ | (102,115 | ) |  | $ | 51,338 |  |  | $ | 53,789 |  |  | $ | 34,000 |
Net (loss) income per share, basic (1) | $ | (1.12 | ) |  | $ | 0.56 |  |  | $ | 0.59 |  |  | $ | 0.37 |
Net (loss) income per share, diluted (1) | $ | (1.12 | ) |  | $ | 0.54 |  |  | $ | 0.56 |  |  | $ | 0.35 |
Weighted average common shares outstanding, basic |  | 91,056 |  |  |  | 91,389 |  |  |  | 91,859 |  |  |  | 92,182 |
Weighted average common shares outstanding, diluted |  | 91,056 |  |  |  | 94,779 |  |  |  | 96,074 |  |  |  | 97,229 |
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Year Ended December 31, 2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenues | $ | 71,086 |  |  | $ | 96,905 |  |  | $ | 151,757 |  |  | $ | 131,492 |
Total operating expenses | $ | 108,533 |  |  | $ | 98,757 |  |  | $ | 97,434 |  |  | $ | 109,621 |
Net (loss) income | $ | (41,818 | ) |  | $ | (5,913 | ) |  | $ | 50,764 |  |  | $ | 18,078 |
Net (loss) income per share, basic | $ | (0.47 | ) |  | $ | (0.07 | ) |  | $ | 0.56 |  |  | $ | 0.20 |
Net (loss) income per share, diluted | $ | (0.47 | ) |  | $ | (0.07 | ) |  | $ | 0.52 |  |  | $ | 0.19 |
Weighted average common shares outstanding, basic |  | 89,526 |  |  |  | 90,100 |  |  |  | 90,555 |  |  |  | 90,742 |
Weighted average common shares outstanding, diluted |  | 89,526 |  |  |  | 90,100 |  |  |  | 96,798 |  |  |  | 95,724 |
(1) In connection with the payment of the upfront fee pursuant to our collaboration and license agreement with Voyager, we recorded a charge of $113.1 million, accounted for as IPR&D, in the first quarter of 2019. In the second quarter of 2019, we entered into an amendment to the collaboration and license agreement with Voyager, pursuant to which we paid Voyager $5.0 million upfront, accounted for as IPR&D, to obtain outside the U.S. rights to the Friedreich’s ataxia program. In connection with the payment of the upfront fee pursuant to our collaboration with Xenon, we recorded a charge of $36.2 million, accounted for as IPR&D, in the fourth quarter of 2019.

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118952077&loc=d3e1280-108306 + Details
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