Annual report pursuant to Section 13 and 15(d)

Quarterly Financial Information (unaudited) (Details)

v3.3.1.900
Quarterly Financial Information (unaudited) (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]                      
Total revenues $ 48,183 [1] $ 2,074 [1] $ 2,539 [1] $ 2,651 [1] $ 4,347 $ 5,136 $ 5,973 $ 3,410 $ 55,447 $ 18,866 $ 35,451
Restructuring costs (1,138) (2,561)           (84) (3,699) (84) (328)
Operating costs and expenses (18,305) (23,191) (24,752) (25,224) (23,475) [2] (25,589) [2] (24,750) [2] (26,800) [2] (95,171) (100,698) (93,656)
Loss from operations 28,740 (23,678) (22,213) (22,573) (19,128) (20,453) (18,777) (23,474) (39,724) (81,832) (58,205)
Other income (expense), net [3] (3,389) 23,198 (1,546) 855 11,810 6,054 6,880 18,787      
Net loss $ 25,351 $ (480) $ (23,759) $ (21,718) $ (7,318) $ (14,399) $ (11,897) $ (4,687) $ (20,606) $ (38,301) $ (124,058)
Basic net (loss) income per share of common stock $ 0.21 $ 0.00 $ (0.20) $ (0.19) $ (0.07) $ (0.13) $ (0.11) $ (0.04) $ (0.17) $ (0.36) $ (1.43)
Diluted net (loss) income per share of common stock $ 0.21 [4] $ 0.00 [4] $ (0.20) [4] $ (0.19) [4] $ (0.12) $ (0.17) $ (0.17) $ (0.21) $ (0.17) $ (0.67) $ (1.43)
[1] In the fourth quarter of 2015, the total revenues include upfront and milestone payments relating to various out-licensing arrangements, including a $37.0 million upfront payment from Novartis, a $5.0 million upfront payment from Novo Nordisk and a $3.8 million payment from Pfizer.
[2] In 2014, the Company corrected an immaterial error driven by certain stock-based compensation expense in the fourth quarter of 2014, resulting in a decrease to operating expenses and net loss by $1.6 million and a decrease to basic and diluted loss per share of $0.01 and $0.02, respectively, for the three months ended December 31, 2014.
[3] Fluctuations in 2015 and 2014 primarily relate to (losses) gains on the revaluation of the contingent warrant liabilities and a $3.5 million gain from the sale of the Company’s manufacturing facility during the three months ended December 31, 2015 (see Note 6).
[4] For the quarter ended December 31, 2015, the Company’s diluted net income per share of common stock was computed by giving effect to all potentially dilutive common stock equivalents outstanding during the period