QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL DATA (UNAUDITED)

12. QUARTERLY FINANCIAL DATA (UNAUDITED)

The following information has been derived from unaudited consolidated financial statements that, in the opinion of management, include all recurring adjustments necessary for a fair statement of such information.

	Three Months Ended
	March 31, 2016			June 30, 2016			September 30, 2016			December 31, 2016
	(In thousands, except per share data)
Revenues	$	7,345		$	8,709		$	13,651		$	17,454
Operating expenses		117,373			101,159			120,327			132,887
Net loss	$	(102,974	)	$	(90,129	)	$	(104,071	)	$	(112,934	)
Net loss per common share — basic and diluted	$	(1.21	)	$	(1.05	)	$	(1.21	)	$	(1.32	)
Weighted-average common shares — basic and diluted		85,277			85,545			85,716			85,843

	Three Months Ended
	March 31, 2015			June 30, 2015			September 30, 2015			December 31, 2015
	(In thousands, except per share data)
Revenues	$	18,537		$	8,685		$	6,324		$	7,551
Operating expenses		70,759			81,629			84,654			100,063
Net loss	$	(50,777	)	$	(71,783	)	$	(76,792	)	$	(90,721	)
Net loss per common share — basic and diluted	$	(0.62	)	$	(0.85	)	$	(0.91	)	$	(1.07	)
Weighted-average common shares — basic and diluted		82,074			84,353			84,633			84,871