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Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Summary of computation of basic and diluted net income (loss) per share | The following table presents the computation of basic and diluted net income per share for the periods indicated (in thousands, except per share amounts):
| Three months ended
| March 31,
| 2016 |  | 2015
Net income from continuing operations | $ | 5,877 |  |  | $ | 754 |
Net income from discontinued operations | 731 |  |  | — |
Net income | $ | 6,608 |  |  | $ | 754 |
Shares used to compute basic income per share | 20,707,926 |  |  | 19,611,881 |
Dilutive potential common shares: |  |  |
Restricted stock | 66,736 |  |  | 61,538 |
Stock options | 759,581 |  |  | 957,369 |
0.75% Convertible Senior Notes, Due 2019 | 749,736 |  |  | — |
Shares used to compute diluted income per share | 22,283,979 |  |  | 20,630,788 |
Basic per share amounts: |  |  |
Income from continuing operations | $ | 0.28 |  |  | $ | 0.04 |
Income from discontinued operations | 0.04 |  |  | — |
Basic net income per share | $ | 0.32 |  |  | $ | 0.04 |
Diluted per share amounts: |  |  |
Income from continuing operations | $ | 0.26 |  |  | $ | 0.04 |
Income from discontinued operations | 0.03 |  |  | — |
Diluted net income per share | $ | 0.30 |  |  | $ | 0.04 |
Summary of investment categories | The following table summarizes the various investment categories at March 31, 2016 and December 31, 2015 (in thousands):
| Amortized cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Estimated fair value
March 31, 2016 |  |  |  |  |  |  |
Short-term investments |  |  |  |  |  |  |  |
Bank deposits | $ | 42,376 |  |  | $ | 87 |  |  | $ | — |  |  | $ | 42,463 |
Corporate bonds | 24,268 |  |  | 84 |  |  | (2 | ) |  | 24,350 |
Commercial paper | 8,401 |  |  | 2 |  |  | — |  |  | 8,403 |
Asset backed securities | 2,067 |  |  | 1 |  |  | (1 | ) |  | 2,067 |
Corporate equity securities | 1,811 |  |  | 2,814 |  |  | — |  |  | 4,625 |
| $ | 78,923 |  |  | $ | 2,988 |  |  | $ | (3 | ) |  | $ | 81,908 |
December 31, 2015 |  |  |  |  |  |  |
Short-term investments |  |  |  |  |  |  |
Bank deposits | $ | 43,043 |  |  | $ | — |  |  | $ | (4 | ) |  | $ | 43,039 |
Corporate bonds | 41,238 |  |  | $ | — |  |  | (35 | ) |  | 41,203 |
Commercial paper | 1,747 |  |  | $ | — |  |  | — |  |  | 1,747 |
Asset backed securities | 10,020 |  |  | $ | — |  |  | (5 | ) |  | 10,015 |
Corporate equity securities | 1,843 |  |  | $ | 4,944 |  |  | — |  |  | 6,787 |
| $ | 97,891 |  |  | $ | 4,944 |  |  | $ | (44 | ) |  | $ | 102,791 |
Summary of goodwill and other identifiable intangible assets | Goodwill and other identifiable intangible assets consist of the following (in thousands):
| March 31, |  | December 31,
| 2016 |  | 2015
Indefinite lived intangible assets |  |  |
Acquired IPR&D | $ | 12,556 |  |  | $ | 12,556 |
Goodwill | 72,997 |  |  | 12,238 |
Definite lived intangible assets |  |  |
Complete technology | 182,267 |  |  | 15,267 |
Less: Accumulated amortization | (5,883 | ) |  | (3,762 | )
Trade name | 2,642 |  |  | 2,642 |
Less: Accumulated amortization | (685 | ) |  | (652 | )
Customer relationships | 29,600 |  |  | 29,600 |
Less: Accumulated amortization | (7,674 | ) |  | (7,304 | )
Total goodwill and other identifiable intangible assets, net | $ | 285,820 |  |  | $ | 60,585 |
Summary of property and equipment | Property and equipment is stated at cost and consists of the following (in thousands):
| March 31, |  | December 31,
| 2016 |  | 2015
Lab and office equipment | $ | 2,482 |  |  | $ | 2,248 |
Leasehold improvements | 273 |  |  | 273 |
Computer equipment and software | 636 |  |  | 632 |
| 3,391 |  |  | 3,153 |
Less accumulated depreciation and amortization | (2,824 | ) |  | (2,781 | )
Total property and equipment, net | $ | 567 |  |  | $ | 372 |
Summary of other current assets | Other current assets consist of the following (in thousands):
| March 31, |  | December 31,
| 2016 |  | 2015
Prepaid expenses | $ | 1,087 |  |  | $ | 1,177 |
Other receivables | 475 |  |  | 731 |
Total other current assets | $ | 1,562 |  |  | $ | 1,908 |
Summary of accrued liabilities | Accrued liabilities consist of the following (in thousands):
| March 31, |  | December 31,
| 2016 |  | 2015
Compensation | $ | 854 |  |  | $ | 1,711 |
Professional fees | 754 |  |  | 726 |
Amounts owed to former licensees | 695 |  |  | 915 |
Royalties owed to third parties | 937 |  |  | 823 |
Other | 429 |  |  | 1,222 |
Total accrued liabilities | $ | 3,669 |  |  | $ | 5,397 |
Summary of other long-term liabilities | Other long-term liabilities consist of the following (in thousands):
| March 31, |  | December 31,
| 2016 |  | 2015
Deposits | $ | 298 |  |  | $ | 268 |
Deferred rent | 107 |  |  | — |
Other | 41 |  |  | 29 |
Total other long-term liabilities | $ | 446 |  |  | $ | 297 |
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):
| Three months ended |
| March 31, |
| 2016 |  | 2015 |
Stock-based compensation expense as a component of: |  |  |  |
Research and development expenses | $ | 1,585 |  |  | $ | 920 |  |
General and administrative expenses | 2,533 |  |  | 1,994 |  |
| $ | 4,118 |  |  | $ | 2,914 |  |
Summary of fair-value options awarded to employees and directors | 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:
| Three months ended |
| March 31, |
| 2016 |  | 2015 |
Risk-free interest rate | 1.5% |  | 1.8% |
Dividend yield | — |  | — |
Expected volatility | 50% |  | 58% |
Expected term | 6.6 |  | 6.6 |
Forfeiture rate | 5.0% |  | 8.5% |

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