Subsequent Event

12 Months Ended

Dec. 31, 2018

Subsequent Events [Abstract]

Subsequent Event

SUBSEQUENT EVENT

Sale of Commercial Portfolio Distribution Rights for Proceeds Up to $300 million

On January 17, 2019, we entered into a definitive asset purchase agreement for the sale of our FDA-approved product portfolio of FUSILEV, KHAPZORY, FOLOTYN, ZEVALIN, MARQIBO, BELEODAQ, and EVOMELA to Acrotech. Upon the closing of the Acrotech Transaction, we are entitled to receive up to $160 million in an upfront cash payment (of which $4 million will be held in escrow for six months). In addition, we expect a purchase price adjustment for certain ongoing research and development activities of the commercialized product portfolio. We are also entitled to receive an aggregate $140 million upon Acrotech's achievement of certain regulatory and sales-based milestones relating to this product portfolio. We plan to reduce our staff by approximately 90 employees, the majority of which we expect to transition to Acrotech. The accounting recognition and financial reporting for the disposal of this commercial component of our business will be reflected in our financial statements in the period corresponding with its closing.