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Selected quarterly financial data (Unaudited)
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Selected quarterly financial data (Unaudited)
Selected quarterly financial data (Unaudited)
The following financial information reflects all normal recurring adjustments, which are, in the opinion of management, necessary for a fair statement of the results of the interim periods. Summarized quarterly data for 2017 and 2016 are as follows:
 
 
For the quarters ending
 
 
March 31
 
June 30
 
September 30
 
December 31
2017:
 
 

 
 

 
 

 
 

Net product revenue
 
$
26,442

 
$
47,891

 
$
41,780

 
$
57,953

Collaboration and grant revenue
 
105

 
71

 
73

 
20,077

Operating expenses
 
52,902

 
60,459

 
72,745

 
72,578

(Loss) income from operations
 
(26,355
)
 
(12,497
)
 
(30,892
)
 
5,452

Net (loss) income
 
(29,057
)
 
(17,475
)
 
(33,738
)
 
1,270

Basic and diluted net (loss) income per common share(1)(2)
 
$
(0.85
)
 
$
(0.44
)
 
$
(0.82
)
 
$
0.03

2016:
 
 

 
 

 
 

 
 

Net product revenue
 
$
18,878

 
$
15,437

 
$
22,013

 
$
25,119

Collaboration and grant revenue
 
17

 
196

 
973

 
72

Operating expenses
 
57,337

 
52,193

 
55,050

 
50,183

Loss from operations
 
(38,442
)
 
(36,560
)
 
(32,064
)
 
(24,992
)
Net loss
 
(41,233
)
 
(38,914
)
 
(35,167
)
 
(26,796
)
Basic and diluted net loss per common share(1)
 
$
(1.22
)
 
$
(1.14
)
 
$
(1.03
)
 
$
(0.78
)
 
(1)
The amounts were computed independently for each quarter and the sum of the quarters may not total the annual amounts.
(2)
Diluted net income per common share for the quarter ending December 31, 2017 excludes the conversion of the Convertible Notes as the effect of their inclusion is anti-dilutive during the period.