Basis of Presentation and Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2017

Basis of Presentation and Significant Accounting Policies

Schedule of company's financial assets and liabilities that have been measured at fair value and indicating the fair value hierarchy of the valuation inputs utilized to determine such fair value:

The following table presents information about the Company’s financial assets and liabilities that have been measured at fair value as of December 31, 2016 and June 30, 2017 and indicates the fair value hierarchy of the valuation inputs utilized to determine such fair value (in thousands):

		December 31, 2016
Description	Balance Sheet Classification	Total		Level 1		Level 2		Level 3
Assets:
Money market funds	Cash and cash equivalents	$	766,186	$	766,186	$	—	$	—
Total assets		$	766,186	$	766,186	$	—	$	—

		June 30, 2017
Description	Balance Sheet Classification	Total		Level 1		Level 2		Level 3
Assets:
Money market funds	Cash and cash equivalents	$	471,335	$	471,335	$	—	$	—
Total assets		$	471,335	$	471,335	$	—	$	—

Summary of impact to Company's condensed consolidated Statements of Operations and Comprehensive Loss, Cash Flows, Balance Sheet for early adoption of Accounting Standard Update

Condensed Consolidated Statements of Operations and Comprehensive Loss
	Three months ended June 30, 2016 (in thousands, except per share data)
	As revised under Topic 606		As originally reported under Topic 605		Effect of change
Product revenue, net	$	1,242	$	1,436	$	(194)
License, collaboration and other revenues		34,568		35,125		(557)
Cost of sales – product		234		238		(4)
Loss from operations		(55,243)		(54,496)		(747)
Net loss		(59,154)		(58,407)		(747)
Net loss per share applicable to common stockholders - basic and diluted	$	(1.29)	$	(1.28)	$	(0.01)

	Six months ended June 30, 2016 (in thousands, except per share data)
	As revised under Topic 606		As originally reported under Topic 605		Effect of change
Product revenue, net	$	1,518	$	1,609	$	(91)
License, collaboration and other revenues		34,592		35,259		(667)
Cost of sales – product		313		314		(1)
Loss from operations		(142,344)		(141,587)		(757)
Net loss		(150,134)		(149,377)		(757)
Net loss per share applicable to common stockholders - basic and diluted	$	(3.46)	$	(3.44)	$	(0.02)

Condensed Consolidated Balance Sheets
	December 31, 2016  (in thousands)
	As revised under Topic 606		As originally reported under Topic 605		Effect of change
Accounts receivable	$	6,195	$	5,343	$	852
Other current assets		10,515		8,919		1,596
Accrued expenses		68,700		68,271		429
Deferred revenue, current		95		288		(193)
Deferred revenue, non-current		305		—		305
Customer deposit		—		15,000		(15,000)
Accumulated deficit	$	(973,761)	$	(990,668)	$	16,907

Condensed Consolidated Statement of Cash Flows
	Six months ended June 30, 2016 (in thousands)
	As revised under Topic 606		As originally reported under Topic 605		Effect of change
Net loss	$	(150,134)	$	(149,377)	$	(757)
Adjustments to reconcile net loss to net cash used in operating activities:
Accounts receivable		1,152		169		983
Other assets		(2,112)		(2,296)		184
Accrued expenses		6,506		6,421		85
Deferred revenues		417		912		(495)
Cash and cash equivalents at beginning of period		230,146		230,146		—
Cash and cash equivalents at end of period	$	320,204	$	320,204	$	—