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Basis of Presentation (Tables) | 12 Months Ended
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Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Summary of computation of basic and diluted net income (loss) per share | The following table sets forth the computation of basic and diluted net income (loss) per share for the periods indicated (in thousands, except per share amounts):
| Year Ended December 31,
EPS Attributable to Common Shareholders | 2014 |  | 2013 |  | 2012
Net income (loss) from continuing operations | 12,024 |  |  | $ | 8,832 |  |  | $ | (2,674 | )
Discontinued operations | — |  |  | 2,588 |  |  | 2,147 |
Net income (loss) | $ | 12,024 |  |  | $ | 11,420 |  |  | $ | (527 | )
Shares used to compute basic income (loss) per share | 20,418,569 |  |  | 20,312,395 |  |  | 19,853,095 |
Dilutive potential common shares: |  |  |  |  |
Stock options | 978,162 |  |  | 352,959 |  |  | — |
Restricted stock | 36,446 |  |  | 80,100 |  |  | — |
Shares used to compute diluted income (loss) per share | 21,433,177 |  |  | 20,745,454 |  |  | 19,853,095 |
Basic per share amounts: |  |  |  |  |
Income (loss) from continuing operations | $ | 0.59 |  |  | $ | 0.43 |  |  | $ | (0.14 | )
Discontinued operations | — |  |  | 0.13 |  |  | 0.11 |
Net income (loss) | $ | 0.59 |  |  | $ | 0.56 |  |  | $ | (0.03 | )
Diluted per share amounts: |  |  |  |  |
Income (loss) from continuing operations | $ | 0.56 |  |  | $ | 0.43 |  |  | $ | (0.14 | )
Discontinued operations | — |  |  | 0.12 |  |  | 0.11 |
Net income (loss) | $ | 0.56 |  |  | $ | 0.55 |  |  | $ | (0.03 | )
Summary of investment categories | The following table summarizes the various investment categories at December 31, 2014 and 2013 (in thousands):
| Cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Estimated fair value
December 31, 2014 |  |  |  |  |  |  |
Short-term investments | $ | 2,179 |  |  | $ | 4,954 |  |  | $ | — |  |  | $ | 7,133 |
Certificates of deposit - restricted | 1,261 |  |  | — |  |  | — |  |  | 1,261 |
| $ | 3,440 |  |  | $ | 4,954 |  |  | $ | — |  |  | $ | 8,394 |
December 31, 2013 |  |  |  |  |  |  |
Short-term investments | 1,426 |  |  | 2,914 |  |  | $ | — |  |  | $ | 4,340 |
Certificates of deposit-restricted | 1,341 |  |  | — |  |  | — |  |  | 1,341 |
| $ | 2,767 |  |  | $ | 2,914 |  |  | $ | — |  |  | $ | 5,681 |
Schedule of major customers | A relatively small number of partners accounts for a significant percentage of our revenue. Revenue from significant partners, which is defined as 10% or more of our total revenue, was as follows:
| December 31,
| 2014 |  | 2013 |  | 2012
Partner A | 37 | % |  | 33 | % |  | 32 | %
Partner B | 31 | % |  | 28 | % |  | 15 | %
Partner C | 10 | % |  | 14 | % |  | 19 | %
Summary of property and equipment | Property and equipment is stated at cost and consists of the following (in thousands):
| December 31,
| 2014 |  | 2013
Lab and office equipment | $ | 2,232 |  |  | $ | 3,737 |
Leasehold improvements | 273 |  |  | 387 |
Computer equipment and software | 624 |  |  | 616 |
| 3,129 |  |  | 4,740 |
Less accumulated depreciation and amortization | (2,643 | ) |  | (3,873 | )
| $ | 486 |  |  | $ | 867 |
Summary of goodwill and other identifiable intangible assets | Goodwill and other identifiable intangible assets consist of the following (in thousands):
| December 31,
| 2014 |  | 2013
Indefinite lived intangible assets |  |  |
Acquired in-process research and development | $ | 12,556 |  |  | $ | 12,556 |
Goodwill | 12,238 |  |  | 12,238 |
Definite lived intangible assets |  |  |
Complete technology | 15,267 |  |  | 15,267 |
Less: Accumulated amortization | (2,999 | ) |  | (2,235 | )
Trade name | 2,642 |  |  | 2,642 |
Less: Accumulated amortization | (519 | ) |  | (387 | )
Customer relationships | 29,600 |  |  | 29,600 |
Less: Accumulated amortization | (5,824 | ) |  | (4,344 | )
Total goodwill and other identifiable intangible assets, net | $ | 62,961 |  |  | $ | 65,337 |
Stock option weighted average assumptions | The fair-value for options that were awarded to employees and directors was estimated at the date of grant using the Black-Scholes option valuation model with the following weighted average assumptions:
| Year Ended December 31,
| 2014 |  | 2013 |  | 2012
Risk-free interest rate | 1.9% |  | 1.13%-1.82% |  | 0.83%-1.14%
Dividend yield | — |  | — |  | —
Expected volatility | 62%-69% |  | 69% |  | 69%
Expected term | 6 years |  | 6 years |  | 6 years
Forfeiture rate | 8.6%-9.7% |  | 8.4%-9.8% |  | 8.0%-11.2%
Schedule for accounting for share-based compensation | The following table summarizes stock-based compensation expense recorded as components of research and development expenses and general and administrative expenses for the periods indicated (in thousands):
| December 31,
| 2014 |  | 2013 |  | 2012
Stock-based compensation expense as a component of: |  |  |  |  |
Research and development expenses | $ | 3,595 |  |  | $ | 1,705 |  |  | $ | 1,448 |
General and administrative expenses | 7,675 |  |  | 3,961 |  |  | 2,619 |
| $ | 11,270 |  |  | $ | 5,666 |  |  | $ | 4,067 |

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