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Selected Quarterly Financial Data
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data

Note 14 — Selected Quarterly Financial Data (Unaudited)

The following table sets forth certain unaudited quarterly financial data. In our opinion, the unaudited information set forth below has been prepared on the same basis as our audited information and includes all adjustments necessary to present fairly the information set forth herein. We have experienced fluctuations in our quarterly results and expect these fluctuations to continue in the future. Due to these and other factors, we believe that quarter-to-quarter comparisons of our operating results will not be meaningful, and you should not rely on our results for any one quarter as an indication of our future performance. Certain items previously reported in specific financial statement captions have been reclassified to conform to the current period presentation. Such reclassifications have not materially impacted previously reported total revenues, operating loss or net loss. All data is in thousands except per share information.

 

 

 

Fiscal Year Ended December 31, 2015

 

 

Fiscal Year Ended December 31, 2014

 

 

 

Q1

 

 

Q2

 

 

Q3

 

 

Q4

 

 

Q1

 

 

Q2

 

 

Q3

 

 

Q4

 

Product sales

 

$

7,974

 

 

$

10,968

 

 

$

7,240

 

 

$

13,973

 

 

$

5,795

 

 

$

5,802

 

 

$

6,096

 

 

$

7,460

 

Total revenue

 

$

108,801

 

 

$

22,661

 

 

$

59,952

 

 

$

39,370

 

 

$

19,771

 

 

$

28,513

 

 

$

132,871

 

 

$

19,551

 

Cost of goods sold

 

$

8,444

 

 

$

10,534

 

 

$

6,760

 

 

$

8,364

 

 

$

7,907

 

 

$

5,108

 

 

$

9,220

 

 

$

6,298

 

Research and development expenses

 

$

47,011

 

 

$

45,412

 

 

$

43,229

 

 

$

47,135

 

 

$

38,338

 

 

$

36,702

 

 

$

34,200

 

 

$

38,494

 

Operating income (loss)

 

$

43,043

 

 

$

(43,469

)

 

$

419

 

 

$

(29,364

)

 

$

(36,402

)

 

$

(22,916

)

 

$

80,321

 

 

$

(37,488

)

Net income (loss)

 

$

33,820

 

 

$

(52,657

)

 

$

(8,203

)

 

$

(54,137

)

 

$

(46,201

)

 

$

(32,637

)

 

$

70,605

 

 

$

(45,683

)

Net income (loss) per share(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.26

 

 

$

(0.40

)

 

$

(0.06

)

 

$

(0.40

)

 

$

(0.37

)

 

$

(0.26

)

 

$

0.55

 

 

$

(0.35

)

Diluted

 

$

0.25

 

 

$

(0.40

)

 

$

(0.06

)

 

$

(0.40

)

 

$

(0.37

)

 

$

(0.26

)

 

$

0.53

 

 

$

(0.35

)

 

(1)

Quarterly loss per share amounts may not total to the year-to-date loss per share due to rounding.