Summary of Significant Accounting Policies (Tables)

3 Months Ended

Sep. 30, 2013

Summary of Significant Accounting Policies

Schedule of assets that are required to be measured at fair value on a recurring basis

The following table represents the fair value hierarchy for the Company’s financial assets measured at fair value on a recurring basis as of September 30, 2013 (in thousands):

	Fair Value Measurements at September 30, 2013 Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Cash, cash equivalents and restricted cash	$	177,069	$	177,069	$	—	$	—

As of June 30, 2013, the Company held certain assets that are required to be measured at fair value on a recurring basis. The following table represents the fair value hierarchy for the Company’s financial assets measured at fair value on a recurring basis as of June 30, 2013 (in thousands):

	Fair Value Measurements at June 30, 2013 Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Cash, cash equivalents and restricted cash	$	197,191	$	197,191	$	—	$	—

Schedule of inventory

Inventory at September 30, 2013 and June 30, 2013 is summarized below (in thousands):

	September 30, 2013		June 30, 2013
Raw materials	$	363	$	75
Work in process	1,308		628
Total	$	1,671	$	703

Schedule of common stock equivalents, as calculated in accordance with the treasury-stock method

The Company’s common stock equivalents, as calculated in accordance with the treasury-stock method, are shown in the following table (in thousands):

	Three Months Ended September 30,
	2013	2012
Options outstanding to purchase common stock and unvested restricted stock	8,733	7,960
Common stock equivalents under treasury stock method	2,215	2,552

Schedule of weighted-average assumptions used to estimate the fair value of each stock option

	Three Months EndedSeptember 30,
	2013	2012
Dividend	None	None
Volatility	60.44%	60.44%
Risk-free interest rate	1.69%	0.84%
Expected life (years)	6.3	6.3

Schedule of percentage of total revenue recognized from each significant customer

	Three Months EndedSeptember 30,
Collaborative Partner:	2013	2012
Amgen	1%	23%
Bayer HealthCare	—%	20%
Biotest	1%	23%
Lilly	49%	6%
Novartis	7%	24%
Roche	41%	—%