Quarterly Financial Information (Unaudited) (Tables)

6 Months Ended

Dec. 31, 2016

Quarterly Financial Information (Unaudited)

Schedule of Quarterly Financial Information (Unaudited)

	Six Month Transition Period
	Quarter		Quarter
	Ended		Ended
	September 30, 2016		December 31, 2016
	(In thousands, except per share data)
Revenues:
License and milestone fees	$	76	$	5,076
Royalty revenue		—		—
Non-cash royalty revenue related to the sale of future royalties		6,184		6,710
Research and development support		1,354		1,427
Clinical materials revenue		46		633
Total revenues		7,660		13,846
Expenses:
Research and development		32,909		33,657
General and administrative		9,459		8,536
Restructuring charge		4,130		301
Total expenses		46,498		42,494
Loss from operations		(38,838)		(28,648)
Non-cash interest expense on liability related to sale of future royalty and convertible senior notes		(5,018)		(3,647)
Interest expense on senior convertible notes		(1,150)		(1,099)
Other income (expense), net		275		(758)
Net loss	$	(44,731)	$	(34,152)
Basic and diluted net loss per common share	$	(0.51)	$	(0.39)

	Fiscal Year 2016
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	Ended		Ended		Ended		Ended
	September 30, 2015		December 31, 2015		March 31, 2016		June 30, 2016
	(In thousands, except per share data)
Revenues:
License and milestone fees	$	6,070	$	10,692	$	10,077	$	76
Royalty revenue		—		195		—		—
Non-cash royalty revenue related to the sale of future royalties		5,684		6,291		7,380		5,944
Research and development support		772		848		1,059		1,335
Clinical materials revenue		2,325		3		1,198		53
Total revenues		14,851		18,029		19,714		7,408
Expenses:
Research and development		35,132		38,199		36,094		38,652
General and administrative		8,329		8,054		11,235		9,298
Total expenses		43,461		46,253		47,329		47,950
Loss from operations		(28,610)		(28,224)		(27,615)		(40,542)
Non-cash interest expense on liability related to sale of future royalty and convertible senior notes		(5,143)		(5,059)		(4,972)		(4,956)
Other income (expense), net		13		56		659		(424)
Net loss	$	(33,740)	$	(33,227)	$	(31,928)	$	(45,922)
Basic and diluted net loss per common share	$	(0.39)	$	(0.38)	$	(0.37)	$	(0.53)

	Fiscal Year 2015
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	Ended		Ended		Ended		Ended
	September 30, 2014		December 31, 2014		March 31, 2015		June 30, 2015
	(In thousands, except per share data)
Revenues:
License and milestone fees	$	6,234	$	41,417	$	5,078	$	5,086
Royalty revenue		4,166		4,625		5,099		(23)
Non-cash royalty revenue related to the sale of future royalties		—		—		—		5,484
Research and development support		776		832		532		708
Clinical materials revenue		2,027		1,426		718		1,356
Total revenues		13,203		48,300		11,427		12,611
Expenses:
Research and development		28,018		27,647		25,666		30,437
General and administrative		7,095		6,872		7,000		7,261
Total expenses		35,113		34,519		32,666		37,698
(Loss) income from operations		(21,910)		13,781		(21,239)		(25,087)
Non-cash interest expense on liability related to sale of future royalty		—		—		—		(5,437)
Other (expense) income, net		(372)		(146)		(379)		50
Net (loss) income	$	(22,282)	$	13,635	$	(21,618)	$	(30,474)
Basic and diluted net (loss) income per common share	$	(0.26)	$	0.16	$	(0.25)	$	(0.35)