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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2018
Accounting Policy [Line Items]  
Schedule of Significant Balance of Accounts Receivable The Company has not experienced any loss on its deposits of cash and cash equivalents. Included in current assets are significant balances of accounts receivable as follows:

 

 

 

December 31,

 

 

 

2018

 

 

2017

 

Astellas Pharma Inc. (“Astellas”)—Related party

 

 

74

%

 

 

47

%

AstraZeneca AB (“AstraZeneca”)

 

 

26

%

 

 

53

%

Schedule of Adoption of New Revenue Standards

Select line items from the Company’s consolidated statement of operations and balance sheet, which reflect the adoption of the new revenue standards are as follows (in thousands):

 

 

 

Year Ended December 31, 2017

 

 

Year Ended December 31, 2016

 

 

 

As Previously

Reported

 

 

New Revenue

Standards Adjustment

 

 

As Recast

 

 

As Previously

Reported

 

 

New Revenue

Standards Adjustment

 

 

As Recast

 

Statement of Operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

License revenue

 

$

96,056

 

 

$

(86,123

)

 

$

9,933

 

 

$

137,352

 

 

$

(86,745

)

 

$

50,607

 

Development and other revenue

 

 

29,612

 

 

 

91,451

 

 

 

121,063

 

 

 

42,225

 

 

 

90,357

 

 

 

132,582

 

Total revenue

 

 

125,668

 

 

 

5,328

 

 

 

130,996

 

 

 

179,577

 

 

 

3,612

 

 

 

183,189

 

Net loss

 

 

(126,203

)

 

 

5,328

 

 

 

(120,875

)

 

 

(61,680

)

 

 

3,612

 

 

 

(58,068

)

Net loss per share - basic and diluted

 

$

(1.73

)

 

$

0.07

 

 

$

(1.66

)

 

$

(0.98

)

 

$

0.05

 

 

$

(0.93

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As Previously

Reported

 

 

New Revenue

Standards Adjustment

 

 

As Recast

 

Balance Sheet

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred revenue, current

 

 

 

 

 

 

 

 

 

 

 

 

 

$

7,968

 

 

$

8,702

 

 

$

16,670

 

Deferred revenue, net of current

 

 

 

 

 

 

 

 

 

 

 

 

 

 

112,231

 

 

 

26,010

 

 

 

138,241

 

Accumulated deficit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(595,945

)

 

 

(34,712

)

 

 

(630,657

)

Schedule of Impacts to Accumulated Other Comprehensive Loss and Accumulated Deficit Upon Adoption of Guidance The impacts to the Company’s accumulated other comprehensive loss and accumulated deficit upon adoption of this guidance are as follows (in thousands):

 

 

 

Accumulated

Other

Comprehensive Loss

 

 

Accumulated Deficit

 

 

Balance at December 31, 2017

 

$

(1,795

)

 

$

(630,657

)

*

Impact of change in accounting principle

   upon adoption of ASU 2016-01

 

 

(1,250

)

 

 

1,250

 

 

Opening balance as of January 1, 2018

 

$

(3,045

)

 

$

(629,407

)

 

 

*

Recast to reflect the adoption of the new revenue standards. See above.

Accumulated Deficit [Member]  
Accounting Policy [Line Items]  
Schedule of Adoption of New Revenue Standards

The adoption of the new revenue standards also resulted in the following changes in the accumulated deficit as of December 31, 2016 and 2015:

 

 

 

As Previously

Reported

 

 

New Revenue

Standards Adjustment

 

 

As Recast

 

Accumulated Deficit

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2016

 

$

(469,742

)

 

$

(40,040

)

 

$

(509,782

)

As of December 31, 2015

 

$

(408,062

)

 

$

(43,652

)

 

$

(451,714

)