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Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2018
Summary Of Significant Accounting Policies [Line Items]  
Schedule of reconciliation of restricted cash

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31,

 

December 31,

 

March 31,

 

December 31,

 

    

2018

    

2017

    

2017

    

2016

 

 

(in thousands)

Cash and cash equivalents in balance sheet

 

$

33,674

 

$

12,620

 

$

9,086

 

$

15,256

Restricted cash, current portion in balance sheet

 

 

5,674

 

 

59

 

 

775

 

 

1,092

Restricted cash in other assets in balance sheet

 

 

342

 

 

342

 

 

342

 

 

342

Total cash, cash equivalents and restricted cash in statements of cash flows

 

$

39,690

 

$

13,021

 

$

10,203

 

$

16,690

 

Schedule of Accumulated Other Comprehensive Loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at

 

 

 

 

 

 

 

Balance at

 

 

December 31,

 

 

 

 

Reclassification

 

March 31,

 

 

2017

 

Increase

 

Adjustment

 

2018

 

 

(in thousands)

Unrealized (loss) gain on available-for-sale securities, net of tax

 

$

(766)

 

$

(170)

 

$

32

 

$

(904)

Total accumulated other comprehensive (loss) income, net of tax

 

$

(766)

 

$

(170)

 

$

32

 

$

(904)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounting Standards Update 2014-09  
Summary Of Significant Accounting Policies [Line Items]  
Schedule of cumulative-effect adjustment

Upon the adoption of ASC 606, the Company revised the following selected amounts in its condensed consolidated balance sheet from amounts previously reported:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2017

 

 

 

 

 

As Previously

 

Adoption of

 

 

 

 

 

 

 

Reported

 

ASC 606

 

As Revised

 

 

 

 

 

(in thousands)

Accounts receivable, net of allowance

 

 

 

 

$

8,252

 

$

35,837

 

$

44,089

Other accrued liabilities

 

 

 

 

 

33,207

 

 

50

 

 

33,257

Accumulated deficit

 

 

 

 

$

(482,162)

 

$

35,787

 

$

(446,375)

 

Upon the adoption of ASC 606, the Company restated the following selected amounts in its unaudited condensed consolidated statements of operations and comprehensive loss from amounts previously reported:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended March 31, 2017

 

 

 

 

 

As Previously

 

Adoption of

 

 

 

 

 

 

 

Reported

 

ASC 606

 

As Revised

 

 

 

 

 

(in thousands)

Product revenues

 

 

 

 

$

45,913

 

$

2,481

 

$

48,394

Licensing and other revenues

 

 

 

 

 

988

 

 

 —

 

 

988

Total revenues

 

 

 

 

 

46,901

 

 

2,481

 

 

49,382

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from operations

 

 

 

 

 

(37,031)

 

 

2,481

 

 

(34,550)

Net loss

 

 

 

 

 

(35,961)

 

 

2,481

 

 

(33,480)

Net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

(0.68)

 

 

0.05

 

 

(0.63)

Diluted

 

 

 

 

$

(0.70)

 

$

0.05

 

$

(0.65)

 

In November 2016, the FASB issued Accounting Standards Update No. 2016-18 (“ASU 2016-08”), Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”). The new guidance requires restricted cash to be combined with cash and cash equivalents when reconciling the beginning and ending balances of cash on the statement of cash flows. Further, the new guidance requires the nature of the restrictions to be disclosed, as well as a reconciliation between the balance sheet and the statement of cash flows on how restricted and unrestricted cash are segregated. The Company adopted this new guidance beginning January 1, 2018 and retroactively adjusted the statements of cash flows for three months ended March 31, 2017 to show the combined result of cash and cash equivalents and restricted cash.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended March 31, 2017

 

 

As Previously

 

Adoption of

 

Adoption of

 

 

 

    

Reported

    

ASU 2016-18

    

ASC 606

    

As Revised

 

 

(in thousands)

Operating activities:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(35,961)

 

$

 —

 

$

2,481

 

$

(33,480)

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Accounts receivable

 

 

6,019

 

 

 —

 

 

(2,481)

 

 

3,538

Net cash used in operating activities

 

 

(24,303)

 

 

(317)

 

 

 —

 

 

(24,620)

Cash, cash equivalents and restricted cash, beginning of period

 

 

15,256

 

 

1,434

 

 

 —

 

 

16,690

Cash, cash equivalents and restricted cash, end of period

 

$

9,086

 

$

1,117

 

$

 —

 

$

10,203

 

Accounting Standards Update 2016-18  
Summary Of Significant Accounting Policies [Line Items]  
Schedule of cumulative-effect adjustment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended March 31, 2017

 

 

As Previously

 

Adoption of

 

Adoption of

 

 

 

    

Reported

    

ASU 2016-18

    

ASC 606

    

As Revised

 

 

(in thousands)

Operating activities:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(35,961)

 

$

 —

 

$

2,481

 

$

(33,480)

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Accounts receivable

 

 

6,019

 

 

 —

 

 

(2,481)

 

 

3,538

Net cash used in operating activities

 

 

(24,303)

 

 

(317)

 

 

 —

 

 

(24,620)

Cash, cash equivalents and restricted cash, beginning of period

 

 

15,256

 

 

1,434

 

 

 —

 

 

16,690

Cash, cash equivalents and restricted cash, end of period

 

$

9,086

 

$

1,117

 

$

 —

 

$

10,203