ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2014

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of useful lives of property and equipment

Furniture and office equipment	3 - 5 years
Laboratory equipment	3 - 5 years
Leasehold improvements	Shorter of estimated useful life or lease term

Schedule of calculation of basic and diluted earnings per common share

(in thousands, except for per share amounts)	2014		2013		2012
Basic income (loss) per share
Net income (loss)	$	131,762	$	43,313	$	(29,781	)
Denominator		58,293		56,736		55,893
Basic net income (loss) per share	$	2.26	$	0.76	$	(0.53	)
Diluted net income (loss) per share
Numerator:
Net income (loss)	$	131,762	$	43,313	$	(29,781	)
Add interest expense on convertible debt, net of tax		4,256		—		—
	$	136,018	$	43,313	$	(29,781	)
Denominator:
Denominator for basic income (loss) per share		58,293		56,736		55,893
Add effect of dilutive securities:
Stock options and equivalents		2,463		808		—
Convertible debt		5,551		—		—
Denominator for diluted net income (loss) per share:		66,307		57,544		55,893
Diluted net income (loss) per share	$	2.05	$	0.75	$	(0.53	)

Schedule of antidilutive securities excluded from computation of diluted net income per share

(in thousands)	2014		2013		2012
Convertible debt		—		—		—
Stock options and equivalents		1,578		4,824		6,000
Total potentially dilutive shares		1,578		4,824		6,000