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Fair value measurement (Tables) | 12 Months Ended
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Dec. 31, 2016
Fair value measurement |
Schedule of assets and liabilities measured at fair value on recurring basis |
|  | Quoted prices in active markets (Level 1) |  | Significant other observable inputs (Level 2) |  | Significant unobservable inputs (Level 3) |  | Total |  | Classification in consolidated balance sheets
|  | in thousands |  |
At December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 221,626 |  | $ | — |  | $ | — |  | $ | 221,626 |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total assets |  |  | 221,626 |  |  | — |  |  | — |  |  | 221,626 |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments—long-term debt |  |  | — |  |  | — |  |  | 259 |  |  | 259 |  | Accrued expenses and other current liabilities
Derivative financial instruments—related party |  |  | — |  |  | — |  |  | 578 |  |  | 578 |  | Other non-current liabilities
Contingent consideration |  |  | — |  |  | — |  |  | 2,926 |  |  | 2,926 |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total liabilities |  | $ | — |  | $ | — |  | $ | 3,763 |  | $ | 3,763 |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 132,496 |  |  | — |  |  | — |  |  | 132,496 |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total assets |  |  | 132,496 |  |  | — |  |  | — |  |  | 132,496 |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments—long-term debt |  |  | — |  |  | — |  |  | 11 |  |  | 11 |  | Accrued expenses and other current liabilities
Derivative financial instruments—related party |  |  | — |  |  | — |  |  | 51 |  |  | 51 |  | Other non-current liabilities
Contingent consideration |  |  | — |  |  | — |  |  | 1,838 |  |  | 1,838 |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total liabilities |  | $ | — |  | $ | — |  | $ | 1,900 |  | $ | 1,900 |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of changes in Level 3 items |
|  | Contingent consideration |  | Level 3 Derivative financial instruments |  | Total |
|  | in thousands |
Balance at December 31, 2013 |  | $ | — |  | $ | 299 |  | $ | 299 |
Additions |  |  | 1,743 |  |  | — |  |  | 1,743 |
(Gains) / losses recognized in profit or loss |  |  | 195 |  |  | (14 | ) |  | 181 |
Currency translation effects |  |  | (171 | ) |  | (34 | ) |  | (205 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at December 31, 2014 |  |  | 1,767 |  |  | 251 |  |  | 2,018 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Issuance of financial instruments |  |  | — |  |  | (10,060 | ) |  | (10,060 | )
Allocation to shareholders' equity |  |  | — |  |  | 3,614 |  |  | 3,614 |
(Gains) / losses recognized in profit or loss |  |  | 1,339 |  |  | 7,162 |  |  | 8,501 |
Currency translation effects |  |  | (180 | ) |  | (130 | ) |  | (310 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at December 31, 2015 |  |  | 2,926 |  |  | 837 |  |  | 3,763 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Gains) / losses recognized in profit or loss |  |  | (1,080 | ) |  | (785 | ) |  | (1,865 | )
Currency translation effects |  |  | (8 | ) |  | 10 |  |  | 2 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at December 31, 2016 |  | $ | 1,838 |  | $ | 62 |  | $ | 1,900 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of changes in fair value of unobservable inputs |
|  | 2016 |  | 2015 |
|  | in thousands |
Change in fair value |  |  |  |  |  |  |
Delay in milestones by 6 months |  | $ | (209 | ) | $ | (313 | )
Increasing the POS for the first milestone by 20% |  |  | 367 |  |  | 585 |
Decreasing the POS for the first milestone by 20% |  |  | (367 | ) |  | (585 | )
Reducing the discount rate from 30% to 20% |  |  | 638 |  |  | 1,228 |
Increasing the discount rate from 30% to 40% |  |  | (309 | ) |  | (560 | )
Schedule of changes in fair value of unobservable inputs related to collaboration arrangement |
|  | 7th warrant |  | 10th warrant |  | Total |
|  | in thousands |
Base case |  | $ | 21 |  | $ | 30 |  | $ | 51 |
Increase volatility by 10% to 85% |  |  | 41 |  |  | 49 |  |  | 90 |
Extend exercise dates by one year |  |  | 42 |  |  | 38 |  |  | 80 |
Schedule of changes in fair value of unobservable inputs related to loan facility |
|  | Share price |  | Volatility |  | Time to maturity |
|  | in thousands |
–10% |  | $ | 8 |  | $ | 8 |  | $ | 9 |
Base Case |  |  | 11 |  |  | 11 |  |  | 11 |
+10% |  |  | 15 |  |  | 15 |  |  | 13 |

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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