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Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of investment categories
The Company's investments consist of the following at September 30, 2017 and December 31, 2016 (in thousands):
 
September 30, 2017
 
December 31, 2016
 
Amortized cost
 
Gross unrealized
gains
 
Gross unrealized
losses
 
Estimated
fair value
 
Amortized cost
 
Gross unrealized
gains
 
Gross unrealized
losses
 
Estimated
fair value
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Short-term investments
 
 
 
 
 
 


 
 
 
 
 
 
 
 
     Bank deposits
$
77,307

 
$
12

 
$
(5
)
 
$
77,314

 
$
40,715

 
$
19

 
$
—

 
$
40,734

     Corporate bonds
50,833

 
3

 
(34
)
 
50,802

 
11,031

 
—

 
(5
)
 
11,026

     Commercial paper
23,176

 
3

 
(2
)
 
23,177

 
33,074

 
2

 
(9
)
 
33,067

     U.S. Government bonds
8,490

 
2

 
(6
)
 
8,486

 
7,508

 
—

 
(1
)
 
7,507

     Agency bonds
4,977

 
—

 
—

 
4,977

 
7,294

 
1

 
—

 
7,295

     Municipal bonds
2,020

 
—

 
(8
)
 
2,012

 
19,624

 
—

 
(11
)
 
19,613

     Corporate equity securities
254

 
2,498

 
—

 
2,752

 
1,512

 
1,542

 
—

 
3,054

 
$
167,057

 
$
2,518

 
$
(55
)
 
$
169,520

 
$
120,758

 
$
1,564

 
$
(26
)
 
$
122,296
Summary of goodwill and other identifiable intangible assets
Goodwill and other identifiable intangible assets consist of the following (in thousands):
 
September 30,
 
December 31,
 
2017
 
2016
Indefinite lived intangible assets
 
 
 
     IPR&D
$
12,246

 
$
12,246

     Goodwill
72,207

 
72,207

Definite lived intangible assets
 
 
 
     Complete technology
182,577

 
182,577

          Less: Accumulated amortization
(19,710
)
 
(12,792
)
     Trade name
2,642

 
2,642

          Less: Accumulated amortization
(883
)
 
(784
)
     Customer relationships
29,600

 
29,600

          Less: Accumulated amortization
(9,894
)
 
(8,784
)
Total goodwill and other identifiable intangible assets, net
$
268,785

 
$
276,912
Schedule of commercial license rights
Commercial license rights consist of the following (in thousands):

 
September 30,
 
December 31,
 
2017
 
2016
CorMatrix
$
15,190

 
$
17,284

Selexis
8,531

 
8,537

 
$
23,721

 
$
25,821
Summary of accrued liabilities
Accrued liabilities consist of the following (in thousands):
 
September 30,
 
December 31,
 
2017
 
2016
Compensation
$
2,479

 
$
2,603

Professional fees
634

 
829

Amounts owed to former licensees
457

 
899

Royalties owed to third parties
1,000

 
942

Deferred revenue
1,075

 
—

Other
778

 
1,124

     Total accrued liabilities
$
6,423

 
$
6,397
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
 
Nine months ended
 
September 30,
 
September 30,
 
2017
 
2016
 
2017
 
2016
Stock-based compensation expense as a component of:
 
 
 
 
 
 
 
Research and development expenses
$
2,394

 
$
2,845

 
$
8,260

 
$
6,112

General and administrative expenses
2,854

 
2,486

 
7,657

 
7,578

 
$
5,248

 
$
5,331

 
$
15,917

 
$
13,690
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
 
Nine months ended
 
September 30,
 
September 30,
 
2017
 
2016
 
2017
 
2016
Risk-free interest rate
2.0%
 
1.3%
 
2.1%
 
1.5%
Dividend yield
—
 
—
 
—
 
—
Expected volatility
47%
 
49%
 
47%
 
50%
Expected term
6.5
 
6.7
 
6.8
 
6.6
Summary of computation of basic and diluted net income (loss) per share
The following table presents the calculation of weighted average shares used to calculate basic and diluted earnings per share:
 
Three months ended
 
Nine months ended
 
September 30,
 
September 30,
 
2017
 
2016
 
2017
 
2016
Weighted average shares outstanding:
21,070,678

 
20,886,705

 
21,006,718

 
20,805,604

Dilutive potential common shares:
 
 
 
 
 
 
 
Restricted stock
79,222

 
134,008

 
140,340

 
102,282

     Stock options
1,019,342

 
792,474

 
980,461

 
788,106

     2019 Convertible Senior Notes
1,334,357

 
1,184,092

 
1,118,456

 
1,046,257

     Warrants
47,646

 
—

 
15,882

 
—

Shares used to compute diluted income per share
23,551,245

 
22,997,279

 
23,261,857

 
22,742,249

Potentially dilutive shares excluded from calculation due to anti-dilutive effect
255,101

 
3,540,806

 
2,531,219

 
3,522,063