Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

The table below sets forth certain unaudited statements of comprehensive loss data, and net loss per common share data, for each quarter of 2018 and 2017:

(in thousands, except per share data)



	Quarter Ended
	March 31			June 30			September 30			December 31
				(Unaudited)
2018
Revenues	$	25,374		$	13,798		$	6,966		$	17,071
Loss from operations	$	(37,713	)	$	(30,272	)	$	(22,927	)	$	(12,367	)
Net loss	$	(41,822	)	$	(34,549	)	$	(27,396	)	$	(16,781	)
Net loss per common share, basic and diluted	$	(0.40	)	$	(0.33	)	$	(0.26	)	$	(0.16	)
Shares used in computing net loss per common share, basic and diluted	105,668			105,848			105,881			105,920
2017
Revenues	$	17,962		$	12,087		$	27,674		$	33,966
Loss from operations	$	(39,512	)	$	(33,491	)	$	(28,605	)	$	(29,016	)
Net loss	$	(31,918	)	$	(34,657	)	$	(29,809	)	$	(26,609	)
Net loss per common share, basic and diluted	$	(0.31	)	$	(0.33	)	$	(0.28	)	$	(0.25	)
Shares used in computing net loss per common share, basic and diluted	104,461			105,300			105,582			105,588

Schedule of Error Corrections and Prior Period Adjustments

The effects of the corrections of the errors on the Company’s consolidated statements of comprehensive loss and balance sheets are presented in the tables below. The corrections of the errors had no effect on the previously reported total amounts of operating, investing, and financing cash flows on the Company’s consolidated statements of cash flows.



	Years ended December 31,
	2017									2016
	Previously reported			Adjustments			As adjusted			Previously reported			Adjustments			As adjusted
Revenues:
Net product revenue	$	15,890		$	—		$	15,890		$	—		$	—		$	—
Collaborative agreements	74,267			1,354			75,621			83,182			(4,081		)	79,101
Royalties and other revenue	178			—			178			155			—			155
Total revenues	90,335			1,354			91,689			83,337			(4,081		)	79,256
Operating expenses:
Cost of sales (including finite-lived intangible asset amortization)	1,899			—			1,899			—			—			—
Research and development, including stock-based compensation of $4,905 and $3,938, respectively	156,813			(4,590		)	152,223			178,151			(14,178		)	163,973
Increase (decrease) in fair value of Symphony Icon, Inc. purchase liability	2,101			—			2,101			(703		)	—			(703		)
Selling, general and administrative, including stock-based compensation of $4,567 and $3,514, respectively	66,203			(113		)	66,090			43,044			113			43,157
Total operating expenses	227,016			(4,703		)	222,313			220,492			(14,065		)	206,427
Loss from operations	(136,681		)	6,057			(130,624		)	(137,155		)	9,984			(127,171		)
Interest expense	(6,984		)	—			(6,984		)	(6,567		)	—			(6,567		)
Interest and other income, net	1,954			—			1,954			2,293			—			2,293
Net loss before taxes	(141,711		)	6,057			(135,654		)	(141,429		)	9,984			(131,445		)
Income tax benefit	12,661			—			12,661			—			—			—
Net loss	$	(129,050	)	$	6,057		$	(122,993	)	$	(141,429	)	$	9,984		$	(131,445	)
Net loss per common share, basic and diluted	$	(1.23	)	$	0.06		$	(1.17	)	$	(1.36	)	$	0.09		$	(1.27	)
Shares used in computing net loss per common share, basic and diluted	105,237						105,237			103,863						103,863



	December 31, 2017
	Previously reported			Adjustment			As revised
Assets
Current assets:
Cash and cash equivalents	$	61,661		$	—		$	61,661
Short-term investments	249,127			—			249,127
Accounts receivable, net of allowances of $4	4,825			—			4,825
Inventory	1,948			—			1,948
Prepaid expenses and other current assets	4,434			—			4,434
Total current assets	321,995			—			321,995
Property and equipment, net of accumulated depreciation and amortization of $58,623	17,687			—			17,687
Goodwill	44,543			—			44,543
Other intangible assets	51,885			—			51,885
Other assets	429			—			429
Total assets	$	436,539		$	—		$	436,539
Liabilities and Equity
Current liabilities:
Accounts payable	$	57,652		$	(18,890	)	$	38,762
Accrued liabilities	12,282			—			12,282
Current portion of deferred revenue	40,099			252			40,351
Current portion of long-term debt, net of deferred financing costs	14,094			—			14,094
Total current liabilities	124,127			(18,638		)	105,489
Deferred revenue, net of current portion	22,428			2,475			24,903
Long-term debt, net of deferred financing costs	231,576			—			231,576
Deferred tax liabilities	6,014			—			6,014
Other long-term liabilities	292			—			292
Total liabilities	384,437			(16,163		)	368,274

Commitments and contingencies
Equity:
Preferred stock, $.01 par value; 5,000 shares authorized; no shares issued and outstanding	—			_—			—
Common stock, $.001 par value; 225,000 shares authorized; 105,711 shares issued	106			_—			106
Additional paid-in capital	1,435,526			_—			1,435,526
Accumulated deficit	(1,381,404		)	16,163			(1,365,241		)
Accumulated other comprehensive loss	(222		)	—			(222		)
Treasury stock, at cost, 122 shares, respectively	(1,904		)	—			(1,904		)
Total (deficit) equity	52,102			16,163			68,265
Total liabilities and (deficit) equity	$	436,539		$	—		$	436,539

The impact of the error corrections are presented on a “Previously reported,” “Adjustments,” and “As adjusted” basis in the following quarterly financial data for 2017 and 2018 (in thousands, except per share data):




	Three Months Ended March 31, 2018							Three Months Ended March 31, 2017
	Previously reported			Adjustments	As adjusted			Previously reported			Adjustments		As adjusted
Revenues	$	25,207		167	$	25,374		$	18,293		(331	)	$	17,962
Loss from operations	$	(37,966	)	253	$	(37,713	)	$	(42,485	)	2,973		$	(39,512	)
Net loss	$	(42,075	)	253	$	(41,822	)	$	(34,891	)	2,973		$	(31,918	)
Net loss per common share, basic and diluted	$	(0.40	)	—	$	(0.40	)	$	(0.33	)	0.02		$	(0.31	)
Shares used in computing net loss per common share, basic and diluted	105,668				105,668			104,461					104,461

	Three Months Ended June 30, 2018							Three Months Ended June 30, 2017
	Previously reported			Adjustments	As adjusted			Previously reported			Adjustments		As adjusted
Revenues:	$	13,753		45	$	13,798		$	12,053		34		$	12,087
Loss from operations	$	(30,429	)	157	$	(30,272	)	$	(33,893	)	402		$	(33,491	)
Net loss	$	(34,706	)	157	$	(34,549	)	$	(35,059	)	402		$	(34,657	)
Net loss per common share, basic and diluted	$	(0.33	)	—	$	(0.33	)	$	(0.33	)	—		$	(0.33	)
Shares used in computing net loss per common share, basic and diluted	105,848				105,848			105,300					105,300

	Three Months Ended September 30, 2018							Three Months Ended September 30, 2017
	Previously reported			Adjustment	As adjusted			Previously reported			Adjustment		As adjusted
Revenues:	$	6,856		110	$	6,966		$	26,942		732		$	27,674
Loss from operations	$	(23,043	)	116	$	(22,927	)	$	(29,518	)	913		$	(28,605	)
Net loss	$	(27,512	)	116	$	(27,396	)	$	(30,722	)	913		$	(29,809	)
Net loss per common share, basic and diluted	$	(0.26	)	—	$	(0.26	)	$	(0.29	)	0.01		$	(0.28	)
Shares used in computing net loss per common share, basic and diluted	105,881				105,881			105,582					105,582

								Three Months Ended December 31, 2017
								Previously reported			Adjustment		As adjusted
Revenues:								$	33,047		919		$	33,966
Loss from operations								$	(30,785	)	1,769		$	(29,016	)
Net loss								$	(28,378	)	1,769		$	(26,609	)
Net loss per common share, basic and diluted								$	(0.27	)	0.02		$	(0.25	)
Shares used in computing net loss per common share, basic and diluted								105,588					105,588