XML 94 R81.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Revenue recognition - Income Statement Impacts (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016
Revenues: |  |  |  |  |  |  |  |  |  |  |
Net product revenue | $ 85,833 | $ 53,021 | $ 68,170 | $ 55,981 | $ 57,953 | $ 41,780 | $ 47,891 | $ 26,442 | $ 264,734 | $ 194,392 | $ 82,705
Operating expenses: |  |  |  |  |  |  |  |  |  |  |
Amortization of acquired intangible asset |  |  |  |  |  |  |  |  | 22,877 | 15,380 | 0
Research and development |  |  |  |  |  |  |  |  | 171,984 | 117,456 | 117,633
Selling, general and administrative |  |  |  |  |  |  |  |  | 153,548 | 121,271 | 97,130
Change in the fair value of deferred and contingent consideration |  |  |  |  |  |  |  |  | 19,340 | 0 | 0
Total operating expenses | 131,476 | 101,821 | 74,317 | 72,805 | 72,578 | 72,745 | 60,459 | 52,902 | 380,419 | 258,684 | 214,763
Loss from operations | (45,138) | (48,230) | (5,574) | (16,743) | 5,452 | (30,892) | (12,497) | (26,355) | (115,685) | (64,292) | (132,058)
Interest expense, net |  |  |  |  |  |  |  |  | (12,554) | (12,094) | (8,276)
Other income (expense), net |  |  |  |  |  |  |  |  | 129 | (1,279) | (1,207)
Loss before income tax expense |  |  |  |  |  |  |  |  | (128,110) | (77,665) | (141,541)
Income tax benefit (expense) |  |  |  |  |  |  |  |  | 29 | (1,335) | (569)
Net loss attributable to common stockholders | $ (48,330) | $ (50,969) | $ (9,520) | $ (19,263) | $ 1,270 | $ (33,738) | $ (17,475) | $ (29,057) | (128,081) | (79,000) | (142,110)
Adjustments | ASU 2014-09 |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |
Net product revenue |  |  |  |  |  |  |  |  | (5,177) |  |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |
Cost of product sales, excluding amortization of acquired intangible asset |  |  |  |  |  |  |  |  | (84) |  |
Amortization of acquired intangible asset |  |  |  |  |  |  |  |  | 0 |  |
Research and development |  |  |  |  |  |  |  |  | 0 |  |
Selling, general and administrative |  |  |  |  |  |  |  |  | 0 |  |
Change in the fair value of deferred and contingent consideration |  |  |  |  |  |  |  |  | 0 |  |
Total operating expenses |  |  |  |  |  |  |  |  | (84) |  |
Loss from operations |  |  |  |  |  |  |  |  | (5,093) |  |
Interest expense, net |  |  |  |  |  |  |  |  | 0 |  |
Other income (expense), net |  |  |  |  |  |  |  |  | 0 |  |
Loss before income tax expense |  |  |  |  |  |  |  |  | (5,093) |  |
Income tax benefit (expense) |  |  |  |  |  |  |  |  | 0 |  |
Net loss attributable to common stockholders |  |  |  |  |  |  |  |  | (5,093) |  |
Balances without adoption of Topic 606 |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |
Net product revenue |  |  |  |  |  |  |  |  | 259,557 |  |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |
Cost of product sales, excluding amortization of acquired intangible asset |  |  |  |  |  |  |  |  | 12,586 |  |
Amortization of acquired intangible asset |  |  |  |  |  |  |  |  | 22,877 |  |
Research and development |  |  |  |  |  |  |  |  | 171,984 |  |
Selling, general and administrative |  |  |  |  |  |  |  |  | 153,548 |  |
Change in the fair value of deferred and contingent consideration |  |  |  |  |  |  |  |  | 19,340 |  |
Total operating expenses |  |  |  |  |  |  |  |  | 380,335 |  |
Loss from operations |  |  |  |  |  |  |  |  | (120,778) |  |
Interest expense, net |  |  |  |  |  |  |  |  | (12,554) |  |
Other income (expense), net |  |  |  |  |  |  |  |  | 129 |  |
Loss before income tax expense |  |  |  |  |  |  |  |  | (133,203) |  |
Income tax benefit (expense) |  |  |  |  |  |  |  |  | 29 |  |
Net loss attributable to common stockholders |  |  |  |  |  |  |  |  | (133,174) |  |
Net product revenue |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |
Net product revenue |  |  |  |  |  |  |  |  | 263,005 | 174,066 | 81,447
Net product revenue | Adjustments | ASU 2014-09 |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |
Net product revenue |  |  |  |  |  |  |  |  | (5,177) |  |
Net product revenue | Balances without adoption of Topic 606 |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |
Net product revenue |  |  |  |  |  |  |  |  | 257,828 |  |
Collaboration and grant revenue |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |
Net product revenue |  |  |  |  |  |  |  |  | 1,729 | $ 20,326 | $ 1,258
Collaboration and grant revenue | Adjustments | ASU 2014-09 |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |
Net product revenue |  |  |  |  |  |  |  |  | 0 |  |
Collaboration and grant revenue | Balances without adoption of Topic 606 |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |
Net product revenue |  |  |  |  |  |  |  |  | $ 1,729 |  |

X
- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109223946&loc=d3e3602-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6388964&loc=d3e16225-109274 + Details
Name: | us-gaap_AmortizationOfIntangibleAssets
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of increase (decrease) in the value of right to a contingent consideration asset. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=109223946&loc=d3e3602-108585 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 4 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7008-128479 + Details
Name: | us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.2(a),(d)) -URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227 + Details
Name: | us-gaap_CostOfGoodsAndServicesSold
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 20 -Section 25 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68072869&loc=d3e41242-110953 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(10)) -URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(8)) -URI http://asc.fasb.org/extlink&oid=114873790&loc=SL114874131-224263 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(15)) -URI http://asc.fasb.org/extlink&oid=114873765&loc=SL114874048-224260 + Details
Name: | us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 20 -Section 45 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=109238882&loc=d3e38679-109324 + Details
Name: | us-gaap_IncomeTaxExpenseBenefit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The net amount of nonoperating interest income (expense). + References No definition available. + Details
Name: | us-gaap_InterestIncomeExpenseNonoperatingNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1A -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=114867106&loc=SL7669619-108580 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(22)) -URI http://asc.fasb.org/extlink&oid=114873765&loc=SL114874048-224260 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1B -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=114867106&loc=SL7669625-108580 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(18)) -URI http://asc.fasb.org/extlink&oid=114873790&loc=SL114874131-224263 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(20)) -URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=109223946&loc=d3e3602-108585 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_NetIncomeLoss
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. + References No definition available. + Details
Name: | us-gaap_OperatingExpenses
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_OperatingExpensesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The net result for the period of deducting operating expenses from operating revenues. + References No definition available. + Details
Name: | us-gaap_OperatingIncomeLoss
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of income (expense) related to nonoperating activities, classified as other. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.9) -URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227 + Details
Name: | us-gaap_OtherNonoperatingIncomeExpense
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 985 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6501960&loc=d3e128462-111756 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 730 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6420194&loc=d3e21568-108373 + Details
Name: | us-gaap_ResearchAndDevelopmentExpense
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=109196051&loc=SL49130539-203045 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=109196051&loc=SL49130545-203045 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 4 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=109196051&loc=SL49130543-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenuesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -SubTopic 10 -Section 30 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=68048583&loc=d3e3636-108311 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.4) -URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227 + Details
Name: | us-gaap_SellingGeneralAndAdministrativeExpense
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Details
Name: | us-gaap_InitialApplicationPeriodCumulativeEffectTransitionAxis=us-gaap_DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_AdjustmentsForNewAccountingPronouncementsAxis=us-gaap_AccountingStandardsUpdate201409Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_InitialApplicationPeriodCumulativeEffectTransitionAxis=us-gaap_CalculatedUnderRevenueGuidanceInEffectBeforeTopic606Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_ProductOrServiceAxis=us-gaap_ProductMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_ProductOrServiceAxis=ptct_GrantAndCollaborationMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |