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DEBT (Tables)
12 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
Schedule of composition of the Company's debt and financing obligations
The composition of the Company’s debt and financing obligations is as follows (in thousands):
 
December 31,
 
2015
 
2014
Debt:
 
 
 
Convertible senior notes
$
118,533

 
$
120,000

Discount on debt
(12,605
)
 
(16,900
)
Total debt, net of discount
105,928

 
103,100

Royalty interest obligation

 
276

Total debt and financing obligations
$
105,928

 
$
103,376

Schedule of total interest expense recognized related to the Notes
The following table sets forth the total interest expense recognized by the Company (in thousands):
 
Year Ended December 31,
 
2015
 
2014
 
2013
Contractual interest expense
$
3,856

 
$
3,900

 
$
3,833

Amortization of debt issuance costs
615

 
620

 
593

Amortization of debt discount
4,102

 
4,139

 
3,959

Capitalized interest
(848
)
 
(381
)
 
(1,132
)
     Total
$
7,725

 
$
8,278

 
$
7,253

 
 
 
 
 
 
Effective interest rate on the Notes
7.21
%
 
7.22
%
 
7.22
%