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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2015

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of the calculation of basic and diluted net income (loss) per share

		Three Months Ended September 30,						Nine Months Ended September 30,
(In thousands, except share and per share data)		2015			2014			2015			2014
Net income (loss)		$	27,185		$	(9,549	)	$	8,514		$	(26,723	)
Weighted-average shares:
Basic		158,151,747			156,843,989			157,922,075			152,338,668
Effect of dilutive securities:
Stock options and restricted stock awards		4,517,934			—			4,526,818			—

Diluted		162,669,681			156,843,989			162,448,893			152,338,668

Net income (loss) per share:
Basic		$	0.17		$	(0.06	)	$	0.05		$	(0.18	)
Diluted		$	0.17		$	(0.06	)	$	0.05		$	(0.18	)

Summary of allocation of stock-based compensation expense included in operating expenses on condensed statements of operations related to share-based payment awards

		Three Months Ended September 30,						Nine Months Ended September 30,
(In thousands)		2015			2014			2015			2014
Research and development		$	462		$	653		$	1,696		$	1,932
Restructuring charges		5			—			307			—
General and administrative		1,597			1,356			4,450			3,820

Stock-based compensation expense included in operating expenses		$	2,064		$	2,009		$	6,453		$	5,752

Schedule of assumptions used to estimate the fair value of stock options granted

		Nine Months Ended September 30,
		2015		2014
Dividend yield		0%		0%
Expected volatility range		0.874 to 0.884		0.898 to 0.922
Risk-free interest rate range		1.68% to 1.71%		1.64% to 1.92%
Expected term		5.5 yrs		5.5 yrs

Schedule of assumptions used to estimate the fair value of employee stock purchases under the Purchase Plans

		Nine Months Ended September 30,
		2015		2014
Dividend yield		0%		0%
Expected volatility range		0.654 to 1.392		0.835 to 1.666
Risk-free interest rate range		0.11% to 0.28%		0.06% to 0.15%
Expected term range		6 – 12 mos		6 – 12 mos