Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)

The table below sets forth certain unaudited statements of comprehensive income (loss) data, and net income (loss) per common share data, for each quarter of 2019 and 2018:

(in thousands, except per share data)


	Quarter Ended
	March 31		June 30		September 30		December 31
			(Unaudited)
2019
Revenues (1)	$	9,216	$	9,682	$	294,448	$	8,727
Income (loss) from operations	$	(17,469)	$	(18,545)	$	224,676	$	(47,217)
Net income (loss)	$	(21,797)	$	(23,018)	$	226,086	$	(51,138)
Net income (loss) per common share, basic	$	(0.21)	$	(0.22)	$	2.13	$	(0.48)
Net income (loss) per common share, diluted	$	(0.21)	$	(0.22)	$	1.95	(0.48)
Shares used in computing net income (loss) per common share, basic	106,054		106,272		106,272		106,272
Shares used in computing net income (loss) per common share, diluted	106,054		106,272		116,640		106,272
2018
Revenues	$	25,374	$	13,798	$	6,966	$	17,071
Loss from operations	$	(37,713)	$	(30,272)	$	(22,927)	$	(12,367)
Net loss	$	(41,821)	$	(34,549)	$	(27,396)	$	(16,782)
Net loss per common share, basic and diluted	$	(0.40)	$	(0.33)	$	(0.26)	$	(0.16)

Shares used in computing net loss per common share, basic and diluted	105,668		105,848		105,881		105,920

(1) Revenues for the three months ended September 30, 2019 include $260 million from the Sanofi Termination Agreement, as defined in Note 13.

For periods presented with a net loss, the weighted average number of shares outstanding are the same for both basic and diluted net loss per common share. For these periods, shares associated with convertible debt, stock options and restricted stock units are not included in the weighted average number of shares of common stock outstanding because they are antidilutive.