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Revenue recognition (Tables) | 3 Months Ended
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Mar. 31, 2018
Revenue from Contract with Customer [Abstract] |
Contract liabilities, rollforward and revenue recognition | The following table presents changes in the Company’s contract liabilities for the three months ended March 31, 2018:
|  | Balance as of December 31, 2017 |  | Additions |  | Deductions |  | ASC 606 Adjustment |  | Balance as of March 31, 2018
Deferred Revenue |  | $ | 11,891 |  |  | $ | 1,346 |  |  | $ | — |  |  | $ | (3,937 | ) |  | $ | 9,300.265 |
During the three months ended March 31, 2018, the Company recognized revenue in the period from:
|  | March 31, 2018
Amounts included in contract liabilities at the beginning of the period |  | $ | — |
Performance obligations satisfied in previous period |  | — |
Performance obligations satisfied in current period |  | 55,981 |
Total product revenue |  | $ | 55,981 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | The impact of adoption using the modified retrospective method on the Company’s consolidated financial statements is as follows: i.Consolidated balance sheets
|  | Impact of changes in accounting policies
|  | As reported March 31, 2018 |  | Adjustments |  | As reported Balances without adoption of Topic 606
Assets |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 97,675 |  |  | $ | — |  |  | $ | 97,675 |
Marketable securities |  | 80,595 |  |  | — |  |  | 80,595 |
Trade receivables, net |  | 45,611 |  |  | — |  |  | 45,611 |
Inventory |  | 12,355 |  |  | 80 |  |  | 12,435 |
Prepaid expenses and other current assets |  | 5,760 |  |  | — |  |  | 5,760 |
Total current assets |  | 241,996 |  |  | 80 |  |  | 242,076 |
Fixed assets, net |  | 8,302 |  |  | — |  |  | 8,302 |
Intangible assets, net |  | 127,565 |  |  | — |  |  | 127,565 |
Deposits and other assets |  | 1,548 |  |  | — |  |  | 1,548 |
Total assets |  | $ | 379,411 |  |  | $ | 80 |  |  | $ | 379,491 |
Liabilities and stockholders’ equity |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 71,437 |  |  | $ | (839 | ) |  | $ | 70,598 |
Deferred revenue |  | — |  |  | 4,935 |  |  | 4,935 |
Other current liabilities |  | 1,279 |  |  | — |  |  | 1,279 |
Total current liabilities |  | 72,716 |  |  | 4,096 |  |  | 76,812 |
Deferred revenue - long-term |  | 9,300 |  |  | — |  |  | 9,300 |
Long-term debt |  | 146,878 |  |  | — |  |  | 146,878 |
Other long-term liabilities |  | 209 |  |  | — |  |  | 209 |
Total liabilities |  | 229,103 |  |  | 4,096 |  |  | 233,199 |
Stockholders’ equity: |  |  |  |  |  |  |
Common stock |  | 42 |  |  | — |  |  | 42 |
Additional paid-in capital |  | 975,418 |  |  | — |  |  | 975,418 |
Accumulated other comprehensive income |  | 4,953 |  |  | — |  |  | 4,953 |
Accumulated deficit |  | (830,105 | ) |  | (4,016 | ) |  | (834,121 | )
Total stockholders’ equity |  | 150,308 |  |  | (4,016 | ) |  | 146,292 |
Total liabilities and stockholders’ equity |  | $ | 379,411 |  |  | $ | 80 |  |  | $ | 379,491 |
ii.Consolidated statements of operations
|  | Impact of changes in accounting policies
|  | As reported for the period ended March 31, 2018 |  | Adjustments |  | As reported Balances without adoption of Topic 606
Revenues: |  |  |  |  |  |  |  |
Net product revenue |  | $ | 55,981 |  |  | $ | (829 | ) |  | $ | 55,152 |
Collaboration and grant revenue |  | 81 |  |  | — |  |  | 81 |
Total revenues |  | 56,062 |  |  | (829 | ) |  | 55,233 |
Operating expenses: |  |  |  |  |  |  |  |
Cost of product sales, excluding amortization of acquired intangible asset |  | 3,045 |  |  | (80 | ) |  | 2,965 |
Amortization of acquired intangible asset |  | 5,428 |  |  | — |  |  | 5,428 |
Research and development |  | 31,363 |  |  | — |  |  | 31,363 |
Selling, general and administrative |  | 32,969 |  |  | — |  |  | 32,969 |
Total operating expenses |  | 72,805 |  |  | (80 | ) |  | 72,725 |
Loss from operations |  | (16,743 | ) |  | (749 | ) |  | (17,492 | )
Interest expense, net |  | (3,303 | ) |  | — |  |  | (3,303 | )
Other income, net |  | 1,004 |  |  | — |  |  | 1,004 |
Loss before income tax expense |  | (19,042 | ) |  | (749 | ) |  | (19,791 | )
Income tax expense |  | (221 | ) |  | — |  |  | (221 | )
Net loss attributable to common stockholders |  | $ | (19,263 | ) |  | $ | (749 | ) |  | $ | (20,012 | )
iii.Consolidated statements of comprehensive loss
|  | Impact of changes in accounting policies
|  | As reported for the period ended March 31, 2018 |  | Adjustments |  | As reported Balances without adoption of Topic 606
Net loss |  | $ | (19,263 | ) |  | $ | (749 | ) |  | $ | (20,012 | )
Other comprehensive loss: |  |  |  |  |  |  |  |
Unrealized loss on marketable securities, net of tax |  | (123 | ) |  | — |  |  | (123 | )
Foreign currency translation gain |  | 1,107 |  |  | — |  |  | 1,107 |
Comprehensive loss |  | $ | (18,279 | ) |  | $ | (749 | ) |  | $ | (19,028 | )
iv.Consolidated statements of cash flows
|  | Impact of changes in accounting policies
|  | As reported for the period ended March 31, 2018 |  | Adjustments |  | Balances without adoption of Topic 606
Cash flows from operating activities |  |  |  |  |  |  |  |
Net loss |  | $ | (19,263 | ) |  | $ | (749 | ) |  | $ | (20,012 | )
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |  |  |  |  |
Depreciation and amortization |  | 6,022 |  |  | — |  |  | 6,022 |
Non-cash interest expense |  | 1,780 |  |  | — |  |  | 1,780 |
Amortization of premiums on investments |  | (96 | ) |  | — |  |  | (96 | )
Amortization of debt issuance costs |  | 126 |  |  | — |  |  | 126 |
Share-based compensation expense |  | 7,748 |  |  | — |  |  | 7,748 |
Unrealized foreign currency transaction losses, net |  | (1,300 | ) |  | — |  |  | (1,300 | )
Changes in operating assets and liabilities: |  |  |  |  |  |  | 0 |
Inventory, net |  | (1,446 | ) |  | (80 | ) |  | (1,526 | )
Prepaid expenses and other current assets |  | 958 |  |  | — |  |  | 958 |
Trade receivables, net |  | (4,223 | ) |  | — |  |  | (4,223 | )
Deposits and other assets |  | (308 | ) |  | — |  |  | (308 | )
Accounts payable and accrued expenses |  | (6,810 | ) |  | (839 | ) |  | (7,649 | )
Other liabilities |  | (475 | ) |  | — |  |  | (475 | )
Deferred revenue |  | 1,409 |  |  | 1,668 |  |  | 3,077 |
Net cash used in operating activities |  | (15,878 | ) |  | — |  |  | (15,878 | )
Cash flows from investing activities |  |  |  |  |  |  |  |
Purchases of fixed assets |  | (479 | ) |  | — |  |  | (479 | )
Purchases of marketable securities |  | (22,683 | ) |  | — |  |  | (22,683 | )
Sale and redemption of marketable securities |  | 21,514 |  |  | — |  |  | 21,514 |
Net cash used in investing activities |  | (1,648 | ) |  | — |  |  | (1,648 | )
Cash flows from financing activities |  |  |  |  |  |  |  |
Proceeds from exercise of options |  | 1,136 |  |  | — |  |  | 1,136 |
Net cash provided by financing activities |  | 1,136 |  |  | — |  |  | 1,136 |
Effect of exchange rate changes on cash |  | 2,273 |  |  | — |  |  | 2,273 |
Net decrease in cash and cash equivalents |  | (14,117 | ) |  | — |  |  | (14,117 | )
Cash and cash equivalents, beginning of period |  | 111,792 |  |  | — |  |  | 111,792 |
Cash and cash equivalents, end of period |  | $ | 97,675 |  |  | $ | — |  |  | $ | 97,675 |

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- Definition Tabular disclosure of contract balances and changes in contract balances. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=82913847&loc=SL49130551-203045 + Details
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