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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Total revenues $ 15,542,000 $ 9,287,000 $ 24,126,000 $ 29,102,000
Operating expenses:        
Research and development 28,559,000 38,701,000 67,452,000 83,532,000
General and administrative 8,700,000 8,652,000 19,478,000 18,647,000
Restructuring charge 19,342,000 686,000 19,901,000 2,417,000
Total operating expenses 56,601,000 48,039,000 106,831,000 104,596,000
Loss from operations (41,059,000) (38,752,000) (82,705,000) (75,494,000)
Investment income, net 1,287,000 814,000 2,709,000 1,476,000
Non-cash interest expense on liability related to the sale of future royalties and convertible senior notes (3,818,000) (2,611,000) (7,250,000) (5,657,000)
Interest expense on convertible senior notes (23,000) (23,000) (47,000) (47,000)
Other income (expense), net 167,000 (1,052,000) 96,000 (515,000)
Net loss $ (43,446,000) $ (41,624,000) $ (87,197,000) $ (80,237,000)
Basic and diluted net loss per common share (in dollar per share) $ (0.29) $ (0.31) $ (0.59) $ (0.61)
Basic and diluted weighted average common shares outstanding (in shares) 148,129 134,384 147,972 132,512
Total comprehensive loss $ (43,446,000) $ (41,624,000) $ (87,197,000) $ (80,237,000)
License and milestone fees        
Revenues:        
Total revenues 5,079,000 1,321,000 5,158,000 12,861,000
Non-cash royalty revenue related to the sale of future royalties        
Revenues:        
Total revenues 10,412,000 7,242,000 18,900,000 14,432,000
Research and development support        
Revenues:        
Total revenues $ 51,000 388,000 $ 68,000 771,000
Clinical materials revenue        
Revenues:        
Total revenues   $ 336,000   $ 1,038,000