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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2017
Summary of Significant Accounting Policies |
Schedule of receivables from maximum payments from collaborative partners and licensees |
|  | Potential Milestones (in millions) |
|  |  |  |  |  |  |  |  |  |  | Total |
Partner |  | Development-based |  | Regulatory-based |  | Sales-based |  | Milestones |
Alexion (1) |  | $ | — |  | $ | 28.0 |  | $ | 30.0 |  | $ | 58.0 |
Amgen |  |  | 222.5 |  |  | 345.0 |  |  | 1,080.0 |  |  | 1,647.5 |
BI (1) |  |  | 9.0 |  |  | 6.0 |  |  | 12.0 |  |  | 27.0 |
CSL Janssen 2009 (1) |  |  | — |  |  | 4.0 |  |  | 5.0 |  |  | 9.0 |
Janssen (1) |  |  | 6.0 |  |  | — |  |  | 4.0 |  |  | 10.0 |
MorphoSys (1) |  |  | 49.5 |  |  | 187.0 |  |  | 50.0 |  |  | 286.5 |
Novartis |  |  | 540.0 |  |  | 920.0 |  |  | 950.0 |  |  | 2,410.0 |
Total |  | $ | 827.0 |  | $ | 1,490.0 |  | $ | 2,131.0 |  | $ | 4,448.0 |
| (1) |  | The payments are solely dependent upon activities of the collaborative partner or licensee.
Schedule of revenue by licensees | The $35.7 million, $87.5 million and $27.8 million of revenue recorded for the years ended December 31, 2017, 2016 and 2015, respectively, was earned principally from the following licensees (in millions):
|  | Year Ended |
|  | December 31, |
|  | 2017 |  | 2016 |  | 2015 |
Amgen |  | $ | 16.2 |  | $ | 18.7 |  | $ | 13.8 |
Alexion |  |  | 1.0 |  |  | 6.0 |  |  | 8.5 |
MorphoSys |  |  | 12.5 |  |  | — |  |  | — |
Novo Nordisk |  |  | — |  |  | 2.7 |  |  | 2.9 |
Novartis |  |  | 2.3 |  |  | 59.7 |  |  | — |
CSL |  |  | 3.5 |  |  | — |  |  | 2.5 |
Other |  |  | 0.2 |  |  | 0.4 |  |  | 0.1 |
Total |  | $ | 35.7 |  | $ | 87.5 |  | $ | 27.8 |
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, 2017, 2016 and 2015 is as follows (in millions):
|  | Year Ended |
|  | December 31, |
|  | 2017 |  | 2016 |  | 2015 |
U.S. Revenue |  | $ | 19.7 |  | $ | 84.8 |  | $ | 22.4 |
Non-U.S. Revenue |  |  | 16.0 |  |  | 2.7 |  |  | 5.4 |
Total |  | $ | 35.7 |  | $ | 87.5 |  | $ | 27.8 |
Schedule of assets recorded at fair value | The Company measures the fair value of financial assets using the highest level of inputs that are reasonably available as of the measurement date. The assets recorded at fair value are classified within the hierarchy as follows for the periods reported (in thousands):
|  | December 31, 2017
|  | Total |  |  |  |  |  |
|  | Fair Value |  | Level 1 |  | Level 2
Money Market Funds in Cash and Cash Equivalents |  | $ | 5,175 |  | $ | 5,175 |  | $ | —
Corporate Securities |  |  | 123,270 |  |  | — |  |  | 123,270
Government Securities |  |  | 223,530 |  |  | — |  |  | 223,530
|  | $ | 351,975 |  | $ | 5,175 |  | $ | 346,800
|  | December 31, 2016
|  | Total |  |  |  |  |  |
|  | Fair Value |  | Level 1 |  | Level 2
Money Market Funds in Cash and Cash Equivalents |  | $ | 12,137 |  | $ | 12,137 |  | $ | —
Corporate Securities |  |  | 181,483 |  |  | — |  |  | 181,483
Government Securities |  |  | 207,465 |  |  | — |  |  | 207,465
|  | $ | 401,085 |  | $ | 12,137 |  | $ | 388,948
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 indefinite-lived intangible assets | The carrying amount and accumulated amortization of patents, licenses, and other intangibles is as follows (in thousands):
|  | December 31, |
|  | 2017 |  | 2016 |
Patents, definite life |  | $ | 8,915 |  | $ | 7,570 |
Patents, pending issuance |  |  | 4,360 |  |  | 4,134 |
Licenses and other amortizable intangible assets |  |  | 2,011 |  |  | 2,011 |
Nonamortizable intangible assets (trademarks) |  |  | 399 |  |  | 399 |
Total gross carrying amount |  |  | 15,685 |  |  | 14,114 |
Accumulated amortization—patents |  |  | (3,413) |  |  | (2,792) |
Accumulated amortization—licenses and other |  |  | (1,124) |  |  | (960) |
Total intangible assets, net |  | $ | 11,148 |  | $ | 10,362 |
Future amortization expense for patents, licenses, and other intangible assets |
|  | Year ended |
|  | December 31, |
|  | (in thousands) |
2018 |  | $ | 838 |
2019 |  |  | 827 |
2020 |  |  | 780 |
2021 |  |  | 704 |
2022 |  |  | 676 |
Thereafter |  |  | 2,364 |
Total |  | $ | 6,189 |
Schedule of potentially dilutive securities |
|  | Year Ended |
|  | December 31, |
|  | 2017 |  | 2016 |  | 2015 |
|  | (in thousands) |
Options to purchase common stock |  | 1,291 |  | — |  | 1,281 |
Employee stock purchase plan shares |  | — |  | — |  | 75 |
Total |  | 1,291 |  | — |  | 1,356 |
Schedule of basic and diluted net income (loss) per common share |
|  | Year Ended December 31, |
|  | 2017 |  | 2016 |  | 2015 |
|  | (in thousands, except |
|  | share and per share data) |
Basic |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to common stockholders for basic net income (loss) per share |  | $ | (48,925) |  | $ | 23,625 |  | $ | (17,592) |
Denominator: |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding |  |  | 46,817,756 |  |  | 41,267,329 |  |  | 39,015,131 |
Basic net income (loss) per common share |  | $ | (1.05) |  | $ | 0.57 |  | $ | (0.45) |
Diluted |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to common stockholders for diluted net income (loss) per share |  | $ | (48,925) |  | $ | 23,625 |  | $ | (17,592) |
Denominator: |  |  |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding used in computing basic net income (loss) per common share |  |  | 46,817,756 |  |  | 41,267,329 |  |  | 39,015,131 |
Dilutive effect of employee stock options and ESPP |  |  | — |  |  | 1,121,538 |  |  | — |
Weighted-average number of common shares outstanding used in computing diluted net income (loss) per common share |  |  | 46,817,756 |  |  | 42,388,867 |  |  | 39,015,131 |
Diluted net income (loss) per common share |  | $ | (1.05) |  | $ | 0.56 |  | $ | (0.45) |

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