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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenue:        
Research and development revenue under collaborative agreements $ 48,918 $ 43,798 $ 230,469 $ 119,975
Licensing and royalty revenue 203 265 1,664 9,325
Total revenue 49,121 44,063 232,133 129,300
Expenses:        
Research, development and patent expenses 88,508 61,086 220,962 173,798
General and administrative 8,751 4,470 23,992 13,313
Total operating expenses 97,259 65,556 244,954 187,111
Loss from operations (48,138) (21,493) (12,821) (57,811)
Other income (expense):        
Investment income 1,185 675 2,946 2,003
Interest expense (9,233) (4,998) (27,381) (14,902)
Gain on investments, net 199 3 200 140
Gain on investment in Regulus Therapeutics Inc. 20,211 535 20,211 535
Loss before income tax expense (35,776) (25,278) (16,845) (70,035)
Income tax expense 0 (1,398) 0 (2)
Net loss $ (35,776) $ (26,676) $ (16,845) $ (70,037)
Basic and diluted net loss per share (in dollars per share) $ (0.30) $ (0.23) $ (0.14) $ (0.60)
Shares used in computing basic and diluted net loss per share (in shares) 119,979 117,811 119,560 117,511