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QUARTERLY SUPPLEMENTAL FINANCIAL DATA (UNAUDITED) (Tables)
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
Quarterly supplemental financial data (unaudited)
Presented below is a summary of the unaudited quarterly financial information for the year ended December 31, 2013 (in thousands, except per share data):
 
 
Three Months Ended
 
 
 
 
March 31, 2013
 
June 30, 2013 (1)
 
September 30, 2013
 
December 31, 2013 (1)
 
Total
Revenue
 
$
14,976

 
$
49,359

 
$
32,826

 
$
49,478

(2) 
$
146,639

Net (loss) income
 
$
(4,758
)
 
$
15,382

 
$
5,542

 
$
57,886

(3) 
$
74,052

Net (loss) income per common share:
 
 
 
 
 
 
 
 
Basic
 
$
(0.10
)
 
$
0.34

 
$
0.12

 
$
1.26

 
$
1.61

Diluted
 
$
(0.10
)
 
$
0.33

 
$
0.12

 
$
1.24

 
$
1.59

_______________________________________________
(1) The Company receives significant license revenue in the second and fourth quarters; see Note 2 for further details.
(2) Includes $1.5 million of revenue that was recognized relating to cash payments received in a prior year that were creditable against license fees and/or royalties for which the Company determined there was no appreciable likelihood of executing a commercial license agreement with the customer (see Note 2).
Presented below is a summary of the unaudited quarterly financial information for the year ended December 31, 2012 (in thousands, except per share data):
 
 
Three Months Ended
 
 
 
 
March 31, 2012
 
June 30, 2012 (1)
 
September 30, 2012
 
December 31, 2012 (1)
 
Total
Revenue
 
$
12,620

 
$
29,987

 
$
12,504

 
$
28,133

(2) 
$
83,244

Net (loss) income
 
$
(1,221
)
 
$
10,964

 
$
(5,468
)
 
$
5,385

(3) 
$
9,660

Net (loss) income per common share:
 
 
 
 
 
 
 
 
Basic
 
$
(0.03
)
 
$
0.24

 
$
(0.12
)
 
$
0.12

 
$
0.21

Diluted
 
$
(0.03
)
 
$
0.23

 
$
(0.12
)
 
$
0.12

 
$
0.21