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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenue:      
Research and development revenue under collaborative agreements $ 281,360 $ 202,514 $ 144,194
Licensing and royalty revenue 2,343 11,647 3,091
Total revenue 283,703 214,161 147,285
Expenses:      
Research, development and patent expenses 322,292 241,751 184,033
General and administrative 37,173 20,140 14,918
Total operating expenses 359,465 261,891 198,951
Loss from operations (75,762) (47,730) (51,666)
Other income (expense):      
Investment income 4,302 2,682 2,085
Interest expense (36,732) (22,209) (19,355)
Gain on investments, net 75 1,256 2,378
Gain on investment in Regulus Therapeutics Inc. 20,211 19,902 0
Loss on early retirement of debt 0 (8,292) 0
Loss before income tax (expense) benefit (87,906) (54,391) (66,558)
Income tax (expense) benefit (372) 15,407 5,914
Net loss $ (88,278) $ (38,984) $ (60,644)
Basic and diluted net loss per share (in dollars per share) $ (0.74) $ (0.33) $ (0.55)
Shares used in computing basic and diluted net loss per share (in shares) 119,719 117,691 110,502