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Borrowings (Tables)
12 Months Ended
Dec. 31, 2016
Summary of Borrowings

Borrowings consist of the following (in thousands):

 

     December 31,  
     2016      2015  

Facility Financing Obligation (2019 Notes)

     

Principal amount

   $ 75,000      $ 80,000  

Unamortized debt discount

     (3,661      (5,418
  

 

 

    

 

 

 

Net carrying amount

   $ 71,339      $ 74,582  
  

 

 

    

 

 

 

Senior Convertible Notes (2018 Notes)

     

Principal amount

   $ 27,690      $ 27,690  

Unamortized premium

     426        660  

Unaccreted debt issuance costs

     (481      (737
  

 

 

    

 

 

 

Net carrying amount

   $ 27,635      $ 27,613  
  

 

 

    

 

 

 

Note payable to principal stockholder — net carrying amount

   $ 49,521      $ 49,521  
  

 

 

    

 

 

 
Accretion of Debt Issuance Cost and Debt Discount

Accretion of debt issuance cost and debt discount in connection with the Deerfield financing during the years ended December 31, 2016, 2015 and 2014 are as follows (in thousands):

 

     December 31,  
     2016      2015      2014  

Accretion expense — debt issuance cost

   $ 35      $ 35      $ 326  

Accretion expense — debt discount

   $ 1,722      $ 1,553      $ 7,550