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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenue:        
Research and development revenue under collaborative agreements $ 22,455 $ 119,658 $ 57,670 $ 181,551
Licensing and royalty revenue 16,015 770 17,675 1,461
Total revenue 38,470 120,428 75,345 183,012
Expenses:        
Research, development and patent expenses 77,573 68,007 158,536 132,454
General and administrative 9,824 7,775 20,386 15,241
Total operating expenses 87,397 75,782 178,922 147,695
Income (loss) from operations (48,927) 44,646 (103,577) 35,317
Other income (expense):        
Investment income 1,466 918 2,921 1,762
Interest expense (9,625) (9,127) (19,115) (18,148)
Income (loss) before income tax expense (57,086) 36,437 (119,771) 18,931
Income tax benefit (expense) 231 (789) (1) 0
Net income (loss) $ (56,855) $ 35,648 $ (119,772) $ 18,931
Basic net income (loss) per share (in dollars per share) $ (0.47) $ 0.30 $ (0.99) $ 0.16
Diluted net income (loss) per share (in dollars per share) $ (0.47) $ 0.29 $ (0.99) $ 0.15
Shares used in computing basic net income (loss) per share (in shares) 120,798 119,742 120,698 119,348
Shares used in computing diluted net income (loss) per share (in shares) 120,798 127,779 120,698 124,061