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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

Investments in Debt Securities

Investments in debt securities consisted of the following at December 31, 2015 (in thousands):

		December 31, 2015
		Amortized Cost				Gross Unrealized Gain				Gross Unrealized Loss				Fair Value
Marketable securities:
U.S. Government and agency securities		$	7,029			$	—			$	(6	)		$	7,023
Corporate and other debt securities			10,659				7				(7	)			10,659
			17,688				7				(13	)			17,682
Long-term marketable securities:
U.S. Government and agency securities			838				—				(2	)			836
Corporate and other debt securities			800				—				(3	)			797
			1,638				—				(5	)			1,633
Total		$	19,326			$	7			$	(18	)		$	19,315

Investments in debt securities consisted of the following at December 31, 2014 (in thousands):

		December 31, 2014
		Amortized Cost				Gross Unrealized Gain				Gross Unrealized Loss				Fair Value
Marketable securities:
U.S. Government and agency securities		$	12,716			$	2			$	(2	)		$	12,716
Corporate and other debt securities			10,373				4				(3	)			10,374
			23,089				6				(5	)			23,090
Long-term marketable securities:
U.S. Government and agency securities			1,228				—				—				1,228
Corporate and other debt securities			2,326				—				(4	)			2,322
			3,554				—				(4	)			3,550
Total		$	26,643			$	6			$	(9	)		$	26,640

Contractual Maturities of Debt Securities

The contractual maturities of debt securities at December 31, 2015 were as follows (in thousands):

		Amortized Cost				Fair Value
Due in 1 year or less		$	17,688			$	17,682
Due in 1 to 2 years			1,638				1,633
		$	19,326			$	19,315

Assets Measured at Fair Value on Recurring Basis

The following fair value hierarchy table presents information about each major category of the Company’s assets measured at fair value on a recurring basis as of December 31, 2015 (in thousands):

		Fair value measurement at reporting date using:
		Quoted prices in active markets for identical assets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)				Total
Assets:
Money market funds		$	12,685			$	—			$	—			$	12,685
U.S. Government and agency securities			7,456				402				—				7,858
Corporate and other debt securities			—				11,457				—				11,457
Total		$	20,141			$	11,859			$	—			$	32,000
Liabilities:
Contingent consideration – short-term			—				—				4,480				4,480
Contingent consideration – long-term			—				—				2,308				2,308
Total		$	—			$	—			$	6,788			$	6,788

Quantitative Information Associated with Fair Value Measurement of Contingent Consideration Related to Refine Using Level 3 Inputs

The following tables provide quantitative information associated with the fair value measurement of the Company’s contingent consideration related to Refine using Level 3 inputs (in thousands):

		Contingent Consideration
		Refine
Fair value as of December 31, 2015		$ 6,369
Valuation technique		Probability-adjusted discounted cash flow
Periods in which milestones can be achieved		2015 – 2016

		Fixed Earn-out				Variable Earn-out				Accrued Balance
2015		$	3,500				850			$	4,350
2016			4,250				1,300				2,019

Roll Forward of Fair Value of Contingent Consideration

The following table provides a rollforward of the fair value of the contingent consideration (in thousands):

Balance at December 31, 2014		$	3,844
Payments			(1,139	)
Changes in fair value			4,083
Balance at December 31, 2015		$	6,788

Schedule of Inventories

Inventories consist of the following (in thousands):

		December 31, 2015				December 31, 2014
Raw Materials		$	10,671			$	5,374
Work-in-process			1,586				2,256
Finished products			5,741				4,754
Total		$	17,998			$	12,384

Reconciliation of Basic and Diluted Shares Amounts

A reconciliation of basic and diluted share amounts is as follows:

		Years ended December 31,
		2015				2014				2013
Numerator:
Net income		$	9,345,000			$	8,170,000			$	16,093,000
Denominator:
Basic weighted average common shares outstanding			32,881,940				32,497,657				31,667,015
Weighted average common stock equivalents from assumed exercise of stock options and restricted stock awards			695,151				766,010				739,626
Diluted weighted average common shares outstanding			33,577,091				33,263,667				32,406,641
Basic net income per common share		$	0.28			$	0.25			$	0.51
Diluted net income per common share		$	0.28			$	0.25			$	0.50

Total Assets by Geographic Area

The following table represents the Company’s total assets by geographic area (in thousands):

		December 31, 2015				December 31, 2014
United States		$	91,881			$	83,785
Sweden			54,313				44,508
Singapore			43				—
Total		$	146,237			$	128,293

Long Lived Assets by Geographic Area

The following table represents the Company’s long-lived assets by geographic area (in thousands):

		December 31, 2015				December 31, 2014
United States		$	36,350			$	38,695
Sweden			6,635				8,653
Total		$	42,985			$	47,348

Percentage of Revenue from Significant Customers

Revenue from significant customers as a percentage of the Company’s total revenue is as follows:

		Years ended December 31,
		2015				2014				2013
Orencia® Royalties from Bristol			—				—				27	%
GE Healthcare			37	%			38	%			35	%
MilliporeSigma			29	%			33	%			25	%

Intangible assets

Intangible assets consisted of the following at December 31, 2015 (in thousands):

		Gross Carrying Amount				Accumulated Amortization				Weighted Average Useful Life (in years)
Technology – developed		$	3,295			$	(1,026	)			12
In process research and development			1,600				—				—
Patents			240				(177	)			8
Customer relationships			11,805				(3,682	)			9
Trademark/ tradename			700				—				—
Total intangible assets		$	17,640			$	(4,885	)			10

Intangible assets consisted of the following at December 31, 2014 (in thousands):

		Gross Carrying Amount				Accumulated Amortization				Weighted Average Useful Life (in years)
Technology – developed		$	3,338			$	(750	)			12
In process research and development			1,600				—				—
Patents			240				(148	)			8
Customer relationships			12,202				(2,546	)			9
Trademark/ tradename			700				—				—
Total intangible assets		$	18,080			$	(3,444	)			10

Schedule of Amortization Expense for Amortized Intangible Assets

As of December 31, 2015, the Company expects to record the approximate amortization expense (in thousands):

Years Ending		Amortization Expense
December 31, 2016		$	1,701
December 31, 2017			1,701
December 31, 2018			1,537
December 31, 2019			1,522
December 31, 2020			1,189

Total Revenue

Percentage by Geographic Area or Significant Customers

The following table represents the Company’s total revenue by geographic area (based on the location of the customer):

		Years ended December 31,
		2015				2014				2013
Sweden			37	%			38	%			35	%
United States			28	%			33	%			51	%
United Kingdom			17	%			20	%			12	%
Other			18	%			9	%			2	%
Total			100	%			100	%			100	%

Accounts Receivable

Percentage by Geographic Area or Significant Customers

Significant accounts receivable balances as a percentage of the Company’s total trade accounts receivable and royalties and other receivable balances are as follows:

		December 31, 2015				December 31, 2014
GE Healthcare			13	%			29	%
MilliporeSigma			32	%			7	%
Bioprocessing Customer C			21	%			—
Bioprocessing Customer D			—				11	%

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