FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2016

Schedule of fair value on a recurring basis

The following table presents the Company’s assets and liabilities, measured and recognized at fair value on a recurring basis, classified under the appropriate level of the fair value hierarchy as of June 30, 2016 (in thousands):



	As of June 30, 2016
	Total carrying and estimated fair value		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Asset:
Marketable securities, available-for-sale	$	200,359	$	—	$	200,359	$	—

Liabilities:
Derivative liability related to warrants	$	33,360	$	—	$	—	$	33,360
Business combination-related contingent consideration	$	86,377	$	—	$	—	$	86,377

The following table presents the Company’s asset and liabilities, measured and recognized at fair value on a recurring basis, classified under the appropriate level of the fair value hierarchy as of December 31, 2015 (in thousands):



	As of December 31, 2015
	Total carrying and estimated fair value		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Asset:
Marketable securities, available-for-sale	$	191,799	$	—	$	191,799	$	—

Liabilities:
Derivative liability related to warrants	$	38,810	$	—	$	—	$	38,810
Business combination-related contingent consideration	$	59,021	$	—	$	—	$	59,021

Schedule of estimated fair value of the derivative financial instruments,warrants liability

The following table sets forth a summary of changes in the estimated fair value of the Company’s derivative financial instruments-warrants liability for the six months ended June 30, 2016 (in thousands):



	Fair Value Measurements of Common Stock Warrants Using Significant Unobservable Inputs (Level 3)
Balance at January 1, 2016	$	38,810
Reclassification of derivative liability to equity upon exercise of warrants	(173		)
Change in estimated fair value of liability classified warrants	(5,277		)
Balance at June 30, 2016	$	33,360

Schedule of summary of changes in estimated acquisition related contingent consideration

The following table sets forth a summary of changes in the estimated fair value of the Company's business combination-related contingent consideration for the six months ended June 30, 2016 (in thousands):



	Fair Value Measurements of Acquisition-Related Contingent Consideration (Level 3)
Balance at January 1, 2016	$	59,021
Increase from revaluation of contingent consideration	5,485
Acquisition of L-UDCA	25,000
Contractual payments	(1,510		)
Contractual payments accrued at June 30, 2016	(1,677		)
Foreign currency impact	58
Balance at June 30, 2016	$	86,377