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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2014
Summary of Significant Accounting Policies |
Schedule of receivables from maximum payments from collaborative partners and licensees |
|  | Potential Milestones (in millions) (1) |
|  |  |  |  |  |  |  |  |  |  | Total |
Partner |  | Development-based |  | Regulatory-based |  | Sales-based |  | Milestones |
MorphoSys |  | $ | 62.0 |  | $ | 187.0 |  | $ | 50.0 |  | $ | 299.0 |
Alexion |  |  | 51.0 |  |  | 168.0 |  |  | 180.0 |  |  | 399.0 |
BI |  |  | 9.0 |  |  | 6.0 |  |  | 12.0 |  |  | 27.0 |
CSL 2009 |  |  | 6.0 |  |  | 4.0 |  |  | 5.0 |  |  | 15.0 |
CSL 2013 |  |  | 8.0 |  |  | 4.0 |  |  | 24.5 |  |  | 36.5 |
Merck |  |  | 3.5 |  |  | 6.0 |  |  | — |  |  | 9.5 |
Novo Nordisk |  |  | 36.3 |  |  | 51.0 |  |  | 80.0 |  |  | 167.3 |
Janssen |  |  | 6.0 |  |  | — |  |  | 4.0 |  |  | 10.0 |
Total |  | $ | 181.8 |  | $ | 426.0 |  | $ | 355.5 |  | $ | 963.3 |
| (1) |  | The payments are solely dependent upon activities of the collaborative partner or licensee.
Schedule of revenue by licensees | The $9.5 million, $10.2 million and $9.5 million of revenue recorded for the years ended December 31, 2014, 2013 and 2012, respectively was earned principally from the following licensees (in millions):
|  | Year Ended December 31,
|  | 2014 |  | 2013 |  | 2012 |
Amgen |  | $ | 6.9 |  | $ | 2.2 |  | $ | 1.8 |
MorphoSys |  |  | — |  |  | 3.0 |  |  | 2.0 |
Janssen |  |  | — |  |  | — |  |  | 1.4 |
Merck |  |  | 0.6 |  |  | 1.0 |  |  | — |
Alexion |  |  | 1.0 |  |  | 0.9 |  |  | — |
CSL |  |  | 0.7 |  |  | 2.9 |  |  | 1.8 |
BI |  |  | — |  |  | — |  |  | 1.2 |
Other |  |  | 0.3 |  |  | 0.2 |  |  | 1.3 |
Total |  | $ | 9.5 |  | $ | 10.2 |  | $ | 9.5 |
Schedule of revenue from U.S. and Non U.S. sources | A breakdown of our revenue from U.S. and Non‑U.S. sources for the years ended December 31, 2014, 2013 and 2012 is as follows (in millions):
|  | Year Ended |
|  | December 31, |
|  | 2014 |  | 2013 |  | 2012 |
U.S. Revenue |  | $ | 8.6 |  | $ | 4.2 |  | $ | 4.4 |
Non-U.S. Revenue |  |  | 0.9 |  |  | 6.0 |  |  | 5.1 |
Total |  | $ | 9.5 |  | $ | 10.2 |  | $ | 9.5 |
Schedule of useful lives by asset category |
Computers, software and equipment |  | 3 - 5 years |
Furniture and fixtures |  | 5 - 7 years |
Leasehold improvements |  | 5 - 7 years or remaining |
|  | lease term, whichever is less |
Schedule of carrying amount and accumulated amortization of patents, licenses, and other intangibles | The carrying amount and accumulated amortization of patents, licenses, and other intangibles is as follows (in thousands):
|  | December 31, |
|  | 2014 |  | 2013 |
Patents, definite life |  | $ | 5,720 |  | $ | 4,834 |
Patents, pending issuance |  |  | 3,654 |  |  | 3,515 |
Licenses and other amortizable intangible assets |  |  | 1,797 |  |  | 1,917 |
Nonamortizable intangible assets (trademarks) |  |  | 400 |  |  | 369 |
Total gross carrying amount |  |  | 11,571 |  |  | 10,635 |
Accumulated amortization—patents |  |  | (1,776) |  |  | (1,395) |
Accumulated amortization—licenses and other |  |  | (679) |  |  | (426) |
Total intangible assets, net |  | $ | 9,116 |  | $ | 8,814 |
Future amortization expense for patents, licenses, and other intangible assets |
|  | Years ending |
|  | December 31, |
|  | (in thousands) |
2015 |  | $ | 535 |
2016 |  |  | 538 |
2017 |  |  | 538 |
2018 |  |  | 527 |
2019 |  |  | 515 |
Thereafter |  |  | 2,408 |
Total |  | $ | 5,061 |
Schedule of potentially dilutive securities excluded from the calculation of diluted net loss per share as the effect would have been antidilutive |
|  | Year Ended |
|  | December 31, |
|  | 2014 |  | 2013 |  | 2012 |
|  | (in thousands) |
Convertible preferred stock |  | — |  | — |  | 12,188 |
Convertible promissory notes |  | — |  | — |  | 2,800 |
Options to purchase common stock |  | 2,827 |  | 1,794 |  | 1,305 |
Employee stock purchase plan shares |  | 25 |  | — |  | — |
Total |  | 2,852 |  | 1,794 |  | 16,293 |
Schedule of calculation of diluted loss per shares |
|  | Year Ended December 31 |
|  | 2014 |  | 2013 |  | 2012 |
|  | (in thousands, except |
|  | per share data) |
Basic |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (16,422) |  | $ | (60,259) |  | $ | (8,594) |
Deemed contribution |  |  | — |  |  | 144,765 |  |  | — |
Net income (loss) attributable to common stockholders for basic income per share |  | $ | (16,422) |  | $ | 84,506 |  | $ | (8,594) |
Denominator: |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding |  |  | 31,390,631 |  |  | 2,472,581 |  |  | 72,302 |
Basic net income (loss) per common share |  | $ | (0.52) |  | $ | 34.18 |  | $ | (118.86) |
Diluted: |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to common stockholders for basic net loss per share |  | $ | (16,422) |  | $ | 84,506 |  | $ | (8,594) |
Deemed contribution |  |  | — |  |  | (144,765) |  |  | — |
Net loss attributable to common stockholders for diluted net loss per share |  | $ | (16,422) |  | $ | (60,259) |  | $ | (8,594) |
Denominator: |  |  |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding used in computing basic net (loss) income per common share |  |  | 31,390,631 |  |  | 2,472,581 |  |  | 72,302 |
Dilutive effect of conversion of convertible preferred stock |  |  | — |  |  | 13,173,208 |  |  | — |
Weighted-average number of common shares outstanding used in computing net loss per common share |  |  | 31,390,631 |  |  | 15,645,789 |  |  | 72,302 |
Diluted net loss per common share |  | $ | (0.52) |  | $ | (3.85) |  | $ | (118.86) |

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