|
Collaboration Arrangements (Tables)
|
12 Months Ended |
|
Dec. 31, 2011
|
| Collaboration Arrangements |
|
| Schedule of common stock shares purchased in private placements by the affiliate of GSK |
|
|
|
|
|
|
|
|
|
|
Through December 31, 2011 |
|
|
|
Common Stock
Shares Purchased |
|
Aggregate Amounts
(in thousands) |
|
|
Purchase dates |
|
|
|
|
|
|
|
|
February 24, 2011 |
|
|
152,278 |
|
$ |
3,609 |
|
|
May 3, 2011 |
|
|
261,299 |
|
$ |
6,689 |
|
|
August 2, 2011 |
|
|
102,466 |
|
$ |
2,020 |
|
|
November 1, 2011 |
|
|
58,411 |
|
$ |
1,298 | |
|
| Schedule of upfront license fees and milestone payments received from GSK under the LABA collaboration and strategic alliance agreements |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Through December 31, 2011 |
|
|
(in thousands) |
|
Upfront
License Fees |
|
Milestone
Payments |
|
Total |
|
|
GSK Collaborations |
|
|
|
|
|
|
|
|
|
|
|
LABA/RELOVAIR™ collaboration(1) |
|
$ |
10,000 |
|
$ |
50,000 |
|
$ |
60,000 |
|
|
Strategic alliance agreement |
|
|
20,000 |
|
|
— |
|
|
20,000 |
|
|
Strategic alliance—LAMA license(2) |
|
|
5,000 |
|
|
3,000 |
|
|
8,000 |
|
|
Strategic alliance—MABA program license |
|
|
6,000 |
|
|
16,000 |
|
|
22,000 |
|
| |
|
|
|
|
|
|
|
|
Total |
|
$ |
41,000 |
|
$ |
69,000 |
|
$ |
110,000 |
|
| |
|
|
|
|
|
|
|
- (1)
- The Company does not currently expect to be eligible for any additional milestones under this collaboration.
- (2)
- In August 2004, GSK exercised its right to license the Company's LAMA program pursuant to the terms of the strategic alliance. In 2009, GSK returned the program to the Company.
|
|
| Schedule of revenue recognized from GSK under the LABA collaboration and strategic alliance agreements |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
(in thousands) |
|
2011 |
|
2010 |
|
2009 |
|
|
LABA/RELOVAIR™ collaboration(1) |
|
$ |
4,718 |
|
$ |
5,081 |
|
$ |
5,081 |
|
|
Strategic alliance agreement |
|
|
1,858 |
|
|
2,738 |
|
|
2,738 |
|
|
Strategic alliance—LAMA license |
|
|
— |
|
|
— |
|
|
4,240 |
|
|
Strategic alliance—MABA program license(2) |
|
|
3,082 |
|
|
2,007 |
|
|
3,014 |
|
| |
|
|
|
|
|
|
|
|
Total revenue |
|
$ |
9,658 |
|
$ |
9,826 |
|
$ |
15,073 |
|
| |
|
|
|
|
|
|
|
- (1)
- In the fourth quarter of 2011, the Company revised the estimated performance period for the LABA program based on its progress. The Company does not expect that the revisions will have a material impact on future revenue recognized under this program.
- (2)
- In the fourth quarter of 2011 and the first quarter of 2010, the Company revised the estimated performance period for the MABA program based on its progress. The Company does not expect that the revisions will have a material impact on future revenue recognized under this program.
|
|
| Schedule of revenue recognized under the Astellas collaboration agreement |
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
(in thousands) |
|
2011 |
|
2010 |
|
2009 |
|
|
Amortization of deferred revenue |
|
$ |
12,975 |
|
$ |
12,975 |
|
$ |
11,338 |
|
|
Royalties from net sales of VIBATIV® |
|
|
2,422 |
|
|
1,123 |
|
|
766 |
|
|
Proceeds from VIBATIV® delivered to Astellas |
|
|
1,171 |
|
|
2,058 |
|
|
— |
|
|
Cost of VIBATIV® delivered to Astellas |
|
|
(1,177 |
) |
|
(938 |
) |
|
(1,629 |
) |
|
Cost of unrealizable VIBATIV® inventory |
|
|
(537 |
) |
|
(821 |
) |
|
(1,175 |
) |
| |
|
|
|
|
|
|
|
|
Total net revenue |
|
$ |
14,854 |
|
$ |
14,397 |
|
$ |
9,300 | |
|