19. Selected quarterly financial data (unaudited)

Summarized quarterly financial data for the years ended December 31, 2017 and 2016, are set forth in the following tables:

	March 31			June 30			September 30			December 31
	(In thousands, except per share data)
2017
Net revenues	$	3,009		$	2,163		$	2,043		$	4,530
Net (loss)	$	(16,324	)	$	(35,339	)	$	(32,886	)		(32,784	)
Net (loss) per share — basic	$	(0.17	)	$	(0.35	)	$	(0.31	)	$	(0.28	)
Net (loss) per share — diluted	$	(0.17	)	$	(0.35	)	$	(0.31	)	$	(0.28	)
Weighted average common shares used to compute basic net (loss) per share		95,744			99,864			104,703			116,451
Weighted average common shares used to compute diluted net (loss) per share		95,744			99,864			104,703			116,451
2016
Net revenues	$	—		$	—		$	162,354		$	12,404
Net income (loss)	$	(24,873	)	$	(29,959	)	$	126,520		$	53,976
Net income (loss) per share — basic	$	(0.29	)	$	(0.33	)	$	1.32		$	0.56
Net income (loss) per share — diluted		(0.29	)	$	(0.33	)		1.31			0.56
Weighted average common shares used to compute basic net income (loss) per share		85,771			91,061			95,627			95,676
Weighted average common shares used to compute diluted net income (loss) per share		85,771			91,061			96,548			96,510

In the third quarter of 2016, the Company recognized net revenue-collaboration of $161.8 million attributable to collaboration with Sanofi (See Note 8 — Collaboration Arrangements).

In the fourth quarter of 2016, the Company recognized net revenue-collaboration of $10.2 million attributable to collaboration with Sanofi and $72.0 million gain on extinguishment of debt (See Note 8 — Collaboration Arrangements)

In the fourth quarter of 2017, the Company recognized net revenue-commercial product sales of $1.2 million attributable to a change in estimate (See Note 1 – Description of Business)