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Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 6 Months Ended
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Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Revenue by Source | The following table represents disaggregation of Material Sales and License fees, milestone and other (in thousands):
|  | Three months ended |  | Six months ended
|  | June 30, |  | June 30,
|  | 2018 |  | 2017 |  | 2018 |  | 2017
Material Sales |  |  |  |  |  |  |
| Captisol | $ | 7,612 |  |  | $ | 5,550 |  |  | $ | 12,003 |  |  | $ | 6,672 |
License fees, milestones and other |  |  |  |  |  |  |
| License Fees | $ | 47,981 |  |  | $ | 666 |  |  | $ | 74,936 |  |  | $ | 3,538 |
| Milestone | 1,919 |  |  | 4,497 |  |  | 4,744 |  |  | 5,505 |
| Other | 1,135 |  |  | 3,071 |  |  | 2,301 |  |  | 3,108 |
|  | $ | 51,035 |  |  | $ | 8,234 |  |  | $ | 81,981 |  |  | $ | 12,151 |
Schedule of Investment Categories | The Company's investments consist of the following at June 30, 2018 and December 31, 2017 (in thousands):
| June 30, 2018 |  | December 31, 2017
| 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 | $ | 361,826 |  |  | $ | 36 |  |  | $ | (79 | ) |  | $ | 361,783 |  |  | $ | 80,095 |  |  | $ | 6 |  |  | $ | (42 | ) |  | $ | 80,059 |
Corporate bonds | 84,275 |  |  | 1 |  |  | (138 | ) |  | 84,138 |  |  | 55,335 |  |  | — |  |  | (96 | ) |  | 55,239 |
Commercial paper | 243,544 |  |  | 10 |  |  | (12 | ) |  | 243,542 |  |  | 27,933 |  |  | — |  |  | (20 | ) |  | 27,913 |
U.S. Government bonds | 112,403 |  |  | 14 |  |  | (20 | ) |  | 112,397 |  |  | 8,939 |  |  | — |  |  | (10 | ) |  | 8,929 |
Agency bonds | — |  |  | — |  |  | — |  |  | — |  |  | 4,991 |  |  | — |  |  | (1 | ) |  | 4,990 |
Municipal bonds | 2,023 |  |  | — |  |  | (13 | ) |  | 2,010 |  |  | 2,028 |  |  | — |  |  | (13 | ) |  | 2,015 |
Corporate equity securities | 135 |  |  | 1,463 |  |  | — |  |  | 1,598 |  |  | 207 |  |  | 1,689 |  |  | — |  |  | 1,896 |
| $ | 804,206 |  |  | $ | 1,524 |  |  | $ | (262 | ) |  | $ | 805,468 |  |  | $ | 179,528 |  |  | $ | 1,695 |  |  | $ | (182 | ) |  | $ | 181,041 |
Schedule of Goodwill and Other Identifiable Intangible Assets | Goodwill and other identifiable intangible assets consist of the following (in thousands):
| June 30, |  | December 31,
| 2018 |  | 2017
Indefinite lived intangible assets |  |  |
IPR&D | $ | 2,410 |  |  | $ | 7,923 |
Goodwill | 85,961 |  |  | 85,959 |
Definite lived intangible assets |  |  |
Complete technology | 228,413 |  |  | 222,900 |
Less: accumulated amortization | (29,078 | ) |  | (23,301 | )
Trade name | 2,642 |  |  | 2,642 |
Less: accumulated amortization | (982 | ) |  | (916 | )
Customer relationships | 29,600 |  |  | 29,600 |
Less: accumulated amortization | (11,004 | ) |  | (10,264 | )
Total goodwill and other identifiable intangible assets, net | $ | 307,962 |  |  | $ | 314,543 |
Schedule of Commercial License Rights | Commercial license rights consist of the following (in thousands):
| June 30, |  | December 31,
| 2018 |  | 2017
Aziyo and CorMatrix | $ | 17,696 |  |  | $ | 17,696 |
Selexis | 8,602 |  |  | 8,602 |
| $ | 26,298 |  |  | $ | 26,298 |
Less: accumulated amortization | (5,861 | ) |  | (6,772 | )
Total commercial rights, net | $ | 20,437 |  |  | $ | 19,526 |
Schedule of Accrued Liabilities | Accrued liabilities consist of the following (in thousands):
|  | June 30, |  | December 31,
|  | 2018 |  | 2017
Compensation |  | $ | 3,166 |  |  | $ | 4,085 |
Professional fees |  | 367 |  |  | 430 |
Amounts owed to former licensees |  | 468 |  |  | 396 |
Royalties owed to third parties |  | 2,245 |  |  | 954 |
Other |  | 3,066 |  |  | 1,512 |
Total accrued liabilities |  | $ | 9,312 |  |  | $ | 7,377 |
Schedule of 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 |  | Six months ended
| June 30, |  | June 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Stock-based compensation expense as a component of: |  |  |  |  |  |  |
Research and development expenses | $ | 2,096 |  |  | $ | 1,928 |  |  | $ | 3,863 |  |  | $ | 5,867 |
General and administrative expenses | 2,716 |  |  | 2,696 |  |  | 5,504 |  |  | 4,802 |
| $ | 4,812 |  |  | $ | 4,624 |  |  | $ | 9,367 |  |  | $ | 10,669 |
Schedule 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 |  | Six months ended
| June 30, |  | June 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Risk-free interest rate | 2.8% |  | 2.1% |  | 2.8% |  | 2.1%
Dividend yield | — |  | — |  | — |  | —
Expected volatility | 36% |  | 47% |  | 34% |  | 47%
Expected term | 5.8 |  | 6.5 |  | 5.7 |  | 6.8
Schedule 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 |  | Six months ended
| June 30, |  | June 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Weighted average shares outstanding: | 21,211,877 |  |  | 21,012,611 |  |  | 21,209,467 |  |  | 20,974,738 |
Dilutive potential common shares: |  |  |  |  |  |  |
Restricted stock | 59,605 |  |  | 156,054 |  |  | 61,782 |  |  | 170,900 |
Stock options | 1,132,781 |  |  | 967,533 |  |  | 1,126,196 |  |  | 961,021 |
2019 Convertible Senior Notes | 1,051,852 |  |  | 1,079,702 |  |  | 1,385,475 |  |  | 1,010,505 |
Warrants | 981,807 |  |  | — |  |  | 835,329 |  |  | — |
Shares used to compute diluted income per share | 24,437,922 |  |  | 23,215,900 |  |  | 24,618,249 |  |  | 23,117,164 |
Potentially dilutive shares excluded from calculation due to anti-dilutive effect | 2,091,908 |  |  | 3,811,813 |  |  | 1,120,156 |  |  | 3,761,440 |

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