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QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information

The following information has been derived from unaudited consolidated financial statements that, in the opinion of management, include all recurring adjustments necessary for a fair statement of such information.

 

 

 

Three Months Ended

 

 

 

March 31,

2017

 

 

June 30,

2017

 

 

September 30,

2017

 

 

December 31,

2017

 

 

 

(In thousands, except per share data)

 

Revenues

 

$

18,960

 

 

$

15,932

 

 

$

17,096

 

 

$

37,924

 

Operating expenses

 

 

125,471

 

 

 

136,406

 

 

 

142,896

 

 

$

185,227

 

Net loss

 

$

(107,290

)

 

$

(118,420

)

 

$

(122,937

)

 

$

(142,227

)

Net loss per common share — basic and diluted

 

$

(1.25

)

 

$

(1.34

)

 

$

(1.34

)

 

$

(1.48

)

Weighted-average common shares — basic and diluted

 

 

86,027

 

 

 

88,098

 

 

 

91,828

 

 

 

96,139

 

 

 

 

Three Months Ended

 

 

 

March 31,

2016

 

 

June 30,

2016

 

 

September 30,

2016

 

 

December 31,

2016

 

 

 

(In thousands, except per share data)

 

Revenues

 

$

7,345

 

 

$

8,709

 

 

$

13,651

 

 

$

17,454

 

Operating expenses

 

 

117,373

 

 

 

101,159

 

 

 

120,327

 

 

 

132,887

 

Net loss

 

$

(102,974

)

 

$

(90,129

)

 

$

(104,071

)

 

$

(112,934

)

Net loss per common share — basic and diluted

 

$

(1.21

)

 

$

(1.05

)

 

$

(1.21

)

 

$

(1.32

)

Weighted-average common shares — basic and diluted

 

 

85,277

 

 

 

85,545

 

 

 

85,716

 

 

 

85,843