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Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended
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Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015
Revenues |  |  |  |  |
Product sales, net | $ 124,901 |  | $ 17,327 |  |
Collaborative revenue |  |  | 4 |  | $ 61
Total revenues | 124,901 | [1] | 17,331 | [1] | 61
Operating expenses |  |  |  |  |
Cost of product sales | 9,077 |  | 3,075 |  |
License fees and royalties | 3,983 |  | 1,331 |  | 2,500
Research and development | 149,189 |  | 99,284 |  | 73,869
Selling, general and administrative | 255,062 |  | 186,456 |  | 88,304
Total operating expenses | 417,311 |  | 290,146 |  | 164,673
Loss from operations | (292,410) |  | (272,815) |  | (164,612)
Interest income, net | 4,126 |  | 2,763 |  | 499
Loss before income taxes | (288,284) |  | (270,052) |  | (164,113)
Income tax expense | 1,119 |  | 1,341 |  | 330
Net loss | $ (289,403) |  | $ (271,393) |  | $ (164,443)
Net loss per common share, basic and diluted | $ (2.36) | [2] | $ (2.34) | [2] | $ (1.63)
Weighted average common shares outstanding, basic and diluted | 122,600 |  | 115,858 |  | 100,630
[1] | The Company commenced commercial sales of NUPLAZID in May 2016. The quarters after March 31, 2016 reflect net product revenue related to NUPLAZID.
[2] | Net loss per common share, basic and diluted, are computed independently for each quarter and the full year based upon respective average shares outstanding. Therefore, the sum of the quarterly net loss per common share amounts may not equal the annual amounts reported.

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