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Debt - (Tables)

12 Months Ended

Dec. 31, 2020

Debt Instrument, Redemption [Line Items]

Summary of liability for sale of future royalties

The following table shows the activity within the “liability for sale of future royalties- current” and “liability for sale of future royalties- noncurrent” accounts for the year ended December 31, 2020:

​

​	​	​	​	​
​		Year Ended December 31,
Liability for sale of future royalties- (current and noncurrent)	​	2020
Beginning balance	​	$	—	​
Proceeds from sale of future royalties	​		650,000	​
Less: Non-cash royalty revenue payable to RPI	​	​	(2,055)	​
Plus: Non-cash interest expense recognized	​	​	31,817	​
Ending balance	​	$	679,762	​
Effective interest rate as of December 31, 2020	​		10.4	%

1.50% Convertible senior notes due 2026

Debt Instrument, Redemption [Line Items]

Summary of convertible notes

The 2026 Convertible Notes consist of the following:

​

​	​	​	​	​	​	​
Liability component	​	2020		​	​	2019
Principal	​	$	287,500	​	$	287,500
Less: Debt issuance costs	​		(4,058)	​	​	(4,567)
Less: Debt discount, net(1)	​		(106,065)	​	​	(119,350)
Net carrying amount	​	$	177,377	​	$	163,583

(1) Included in the consolidated balance sheets within convertible senior notes (due 2026) and amortized to interest expense over the remaining life of the 2026 Convertible Notes using the effective interest rate method.

Summary of interest expense recognized related to the Convertible Notes

The following table sets forth total interest expense recognized related to the 2026 Convertible Notes:

​

​	​	​	​	​	​	​	​	​
​		​	Year ended					​
​	​	​	December 31,					​
​		​	2020		​	​	2019	​
Contractual interest expense	​	​	$	4,319	​	$	1,220	​
Amortization of debt issuance costs	​	​		508	​	​	140	​
Amortization of debt discount	​	​	​	13,285	​	​	3,659	​
Total	​	​	$	18,112	​	$	5,019	​
Effective interest rate of the liability component	​	​		10.2	%	​	10.2	%

​

3.00% Convertible senior notes due 2022

Debt Instrument, Redemption [Line Items]

Summary of convertible notes

The 2022 Convertible Notes consist of the following:

​

​	​	​	​	​	​	​
​	​	Year ended
​	​	December 31,
Liability component	​	2020			2019
Principal	​	$	150,000	​	$	150,000
Less: Debt issuance costs	​		(865)	​		(1,329)
Less: Debt discount, net (1)	​		(17,372)	​		(26,686)
Net carrying amount	​	$	131,763	​	$	121,985

(1) Included in the consolidated balance sheets within convertible senior notes (due 2022) and amortized to interest expense over the remaining life of the 2022 Convertible Notes using the effective interest rate method.

Summary of interest expense recognized related to the Convertible Notes

The following table sets forth total interest expense recognized related to the 2022 Convertible Notes:

​

​	​	​	​	​	​	​	​
​	​	Year ended
​	​	December 31,
​	​	2020			2019
Contractual interest expense	​	$	4,500	​	$	4,500	​
Amortization of debt issuance costs	​		464	​		417	​
Amortization of debt discount	​		9,314	​		8,368	​
Total	​	$	14,278	​	$	13,285	​
Effective interest rate of the liability component	​		11.0	%		11.0	%

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