XML 46 R33.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies - Impact of Adopting ASC 606, Adjusted Balance Sheet (Details) - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
May 31, 2018
Jan. 02, 2018
Dec. 31, 2016
Jun. 30, 2016
Dec. 31, 2015
Jun. 30, 2015
Mar. 31, 2015
ASSETS                  
Cash and cash equivalents $ 262,252,000 $ 267,107,000   $ 267,107,000 $ 159,964,000 $ 245,026,000   $ 278,109,000  
Accounts receivable 1,701,000 2,649,000   2,649,000          
Unbilled revenue 617,000 2,580,000   2,580,000          
Non-cash royalty receivable 9,249,000     8,900,000          
Inventory 0 1,038,000   1,038,000          
Prepaid and other current assets 4,462,000 2,967,000   2,967,000          
Total current assets 278,781,000 276,341,000   285,241,000          
Property and equipment, net of accumulated depreciation 12,891,000 14,538,000   14,538,000          
Other assets 3,709,000 3,797,000   3,797,000          
Total assets 295,381,000 294,676,000   303,576,000          
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)                  
Accounts payable 11,365,000 8,562,000   8,562,000          
Accrued compensation 11,796,000 11,473,000   11,473,000          
Other accrued liabilities 20,465,000 15,767,000   15,767,000          
Current portion of deferred lease incentive 837,000 784,000   784,000          
Current portion of liability related to the sale of future royalties, net 25,880,000 17,779,000   17,779,000          
Current portion of deferred revenue 317,000 1,405,000   1,446,000          
Total current liabilities 70,660,000 55,770,000   55,811,000          
Deferred lease incentive, net of current portion 4,675,000 5,129,000   5,129,000     $ 2,000,000    
Deferred revenue, net of current portion 80,485,000 93,752,000   88,521,000          
Convertible 4.5% senior notes, net 2,064,000 2,050,000   2,050,000          
Liability related to the sale of future royalties, net 122,345,000 151,634,000   151,634,000          
Other long-term liabilities 4,180,000 4,236,000   4,236,000          
Total liabilities 284,409,000 312,571,000   307,381,000          
Shareholders' deficit:                  
Preferred stock              
Common stock 1,494,000 1,325,000   1,325,000          
Additional paid-in capital 1,192,813,000 1,009,362,000   1,009,362,000          
Accumulated deficit (1,183,335,000) (1,028,582,000)   (1,014,492,000)          
Total shareholders' equity (deficit) 10,972,000 (17,895,000)   (3,805,000) $ (152,850,000) $ (82,304,000)   $ 35,104,000  
Total liabilities and shareholders' equity (deficit) 295,381,000 294,676,000   303,576,000          
Reduction to accumulated deficit related to previously delivered license 1,476,000                
Deferred tax assets:                  
Increase (decrease) in valuation allowance 49,900,000                
Milestone recognized as contract asset 500,000                
Takeda                  
Shareholders' deficit:                  
Accumulated deficit       4,600,000          
Deferred tax assets:                  
Potential milestone payment                 $ 210,000,000
Pro forma as if previous accounting was in effect | ASU 2014-09                  
ASSETS                  
Cash and cash equivalents 262,252,000 267,107,000              
Accounts receivable 1,701,000 2,649,000              
Unbilled revenue 617,000 2,580,000              
Inventory   1,038,000              
Prepaid and other current assets 4,462,000 2,967,000              
Total current assets 269,032,000 276,341,000              
Property and equipment, net of accumulated depreciation 12,891,000 14,538,000              
Other assets 3,709,000 3,797,000              
Total assets 285,632,000 294,676,000              
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)                  
Accounts payable 11,365,000 8,562,000              
Accrued compensation 11,796,000 11,473,000              
Other accrued liabilities 20,465,000 15,767,000              
Current portion of deferred lease incentive 837,000 784,000              
Current portion of liability related to the sale of future royalties, net 25,880,000 17,779,000              
Current portion of deferred revenue 297,000 1,405,000              
Total current liabilities 70,640,000 55,770,000              
Deferred lease incentive, net of current portion 4,675,000 5,129,000              
Deferred revenue, net of current portion 83,710,000 93,752,000              
Convertible 4.5% senior notes, net 2,064,000 2,050,000              
Liability related to the sale of future royalties, net 122,345,000 151,634,000              
Other long-term liabilities 4,180,000 4,236,000              
Total liabilities 287,614,000 312,571,000              
Shareholders' deficit:                  
Common stock 1,494,000 1,325,000              
Additional paid-in capital 1,192,813,000 1,009,362,000              
Accumulated deficit (1,196,289,000) (1,028,582,000)              
Total shareholders' equity (deficit) (1,982,000) (17,895,000)              
Total liabilities and shareholders' equity (deficit) 285,632,000 294,676,000              
Adjustments due to new guidance | ASU 2014-09                  
ASSETS                  
Non-cash royalty receivable   8,900,000              
Total current assets   8,900,000              
Total assets   8,900,000              
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)                  
Current portion of deferred revenue   41,000              
Total current liabilities   41,000              
Deferred revenue, net of current portion   (5,231,000)              
Total liabilities   (5,190,000)              
Shareholders' deficit:                  
Accumulated deficit   14,090,000              
Total shareholders' equity (deficit)   14,090,000              
Total liabilities and shareholders' equity (deficit)   8,900,000              
Deferred tax assets:                  
Increase (decrease) in deferred tax assets   3,900,000              
Phase 1 clinical trial | Novartis                  
Deferred tax assets:                  
Potential milestone payment 5,000,000                
Phase 1 clinical trial | Takeda                  
Deferred tax assets:                  
Milestone earned, included in accounts receivable 5,000,000                
Phase 1 clinical trial | Adjustments due to new guidance | Takeda | ASU 2014-09                  
Deferred tax assets:                  
Potential milestone payment   5,000,000 $ 5,000,000            
Technological Improvements                  
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)                  
Deferred revenue, net of current portion $ 5,900,000 $ 6,800,000              
Technological Improvements | Takeda                  
Deferred tax assets:                  
Potential milestone payment       $ 400,000