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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenue:        
Research and development revenue under collaborative agreements $ 119,658 $ 56,628 $ 181,551 $ 76,177
Licensing and royalty revenue 770 448 1,461 9,060
Total revenue 120,428 57,076 183,012 85,237
Expenses:        
Research, development and patent expenses 68,007 59,264 132,454 112,712
General and administrative 7,775 4,462 15,241 8,842
Total operating expenses 75,782 63,726 147,695 121,554
Income (loss) from operations 44,646 (6,650) 35,317 (36,317)
Other income (expense):        
Investment income 917 671 1,761 1,328
Interest expense (9,127) (4,961) (18,148) (9,904)
Gain (loss) on investments, net 1 (260) 1 137
Income (loss) before income tax (expense) benefit 36,437 (11,200) 18,931 (44,756)
Income tax (expense) benefit (789) (881) 0 1,395
Net income (loss) $ 35,648 $ (12,081) $ 18,931 $ (43,361)
Basic net income (loss) per share (in dollars per share) $ 0.30 $ (0.10) $ 0.16 $ (0.37)
Diluted net income (loss) per share (in dollars per share) $ 0.29 $ (0.10) $ 0.15 $ (0.37)
Shares used in computing basic net income (loss) per share (in shares) 119,742 117,588 119,348 117,359
Shares used in computing diluted net income (loss) per share (in shares) 127,779 117,588 124,061 117,359