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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Total revenues $ 13,281,000 $ 10,928,000 $ 37,407,000 $ 40,030,000
Operating expenses:        
Research and development 21,015,000 47,243,000 88,467,000 130,775,000
General and administrative 9,208,000 8,347,000 28,686,000 26,994,000
Restructuring charge 1,020,000 870,000 20,921,000 3,287,000
Total operating expenses 31,243,000 56,460,000 138,074,000 161,056,000
Loss from operations (17,962,000) (45,532,000) (100,667,000) (121,026,000)
Investment income, net 1,032,000 1,369,000 3,741,000 2,845,000
Non-cash interest expense on liability related to the sale of future royalties and convertible senior notes (4,275,000) (2,546,000) (11,525,000) (8,203,000)
Interest expense on convertible senior notes (24,000) (23,000) (71,000) (70,000)
Other expense, net (521,000) (75,000) (425,000) (590,000)
Net loss $ (21,750,000) $ (46,807,000) $ (108,947,000) $ (127,044,000)
Basic and diluted net loss per common share (in dollar per share) $ (0.15) $ (0.32) $ (0.74) $ (0.92)
Basic and diluted weighted average common shares outstanding (in shares) 148,479 147,220 148,143 137,472
Total comprehensive loss $ (21,750,000) $ (46,807,000) $ (108,947,000) $ (127,044,000)
License and milestone fees        
Revenues:        
Total revenues 79,000 672,000 5,237,000 13,533,000
Non-cash royalty revenue related to the sale of future royalties        
Revenues:        
Total revenues $ 13,202,000 8,441,000 32,102,000 22,873,000
Research and development support        
Revenues:        
Total revenues   388,000 $ 68,000 1,159,000
Clinical materials revenue        
Revenues:        
Total revenues   $ 1,427,000   $ 2,465,000