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FINANCIAL INFORMATION BY QUARTER (UNAUDITED)
12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
FINANCIAL INFORMATION BY QUARTER (UNAUDITED)

23. FINANCIAL INFORMATION BY QUARTER (UNAUDITED)

 

 

2019 for Quarter Ended

 

 

December 31

 

 

September 30

 

 

June 30

 

 

March 31

 

 

(in thousands)

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Product, net

$

100,113

 

 

$

99,041

 

 

$

94,668

 

 

$

87,011

 

Total revenues

 

100,113

 

 

 

99,041

 

 

 

94,668

 

 

 

87,011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales (excluding amortization of in-licensed rights)

 

15,567

 

 

 

13,037

 

 

 

15,919

 

 

 

12,063

 

Research and development

 

223,141

 

 

 

133,949

 

 

 

113,266

 

 

 

90,553

 

Selling, general and administrative

 

81,424

 

 

 

75,429

 

 

 

67,393

 

 

 

60,566

 

Acquired in-process research and development

 

 

 

 

 

 

 

173,240

 

 

 

 

Settlement and license charges

 

10,000

 

 

 

 

 

 

 

 

 

 

Amortization of in-licensed rights

 

200

 

 

 

216

 

 

 

217

 

 

 

216

 

Total cost and operating expenses

 

330,332

 

 

 

222,631

 

 

 

370,035

 

 

 

163,398

 

Operating loss

 

(230,219

)

 

 

(123,590

)

 

 

(275,367

)

 

 

(76,387

)

Other loss:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other expense, net

 

(4,773

)

 

 

(2,510

)

 

 

(862

)

 

 

(172

)

Other loss

 

(4,773

)

 

 

(2,510

)

 

 

(862

)

 

 

(172

)

Loss before income tax expense

 

(234,992

)

 

 

(126,100

)

 

 

(276,229

)

 

 

(76,559

)

Income tax expense

 

711

 

 

 

226

 

 

 

174

 

 

 

84

 

Net loss

$

(235,703

)

 

$

(126,326

)

 

$

(276,403

)

 

$

(76,643

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per share - basic and diluted

$

(3.16

)

 

$

(1.70

)

 

$

(3.74

)

 

$

(1.07

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares of common stock used in

   computing basic and diluted net loss per share

 

74,557

 

 

 

74,177

 

 

 

73,958

 

 

 

71,731

 

 

 

2018 for Quarter Ended

 

 

December 31

 

 

September 30

 

 

June 30

 

 

March 31

 

 

(in thousands)

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Product, net

$

84,415

 

 

$

78,486

 

 

$

73,529

 

 

$

64,604

 

Total revenues

 

84,415

 

 

 

78,486

 

 

 

73,529

 

 

 

64,604

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales (excluding amortization of in-licensed rights)

 

13,135

 

 

 

8,741

 

 

 

6,735

 

 

 

5,582

 

Research and development

 

146,207

 

 

 

86,584

 

 

 

122,848

 

 

 

46,204

 

Selling, general and administrative

 

64,220

 

 

 

53,044

 

 

 

47,156

 

 

 

43,341

 

Amortization of in-licensed rights

 

216

 

 

 

216

 

 

 

217

 

 

 

216

 

Total cost and operating expenses

 

223,778

 

 

 

148,585

 

 

 

176,956

 

 

 

95,343

 

Operating loss

 

(139,363

)

 

 

(70,099

)

 

 

(103,427

)

 

 

(30,739

)

Other loss:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense and other, net

 

(2,311

)

 

 

(6,968

)

 

 

(5,218

)

 

 

(4,485

)

Total other loss

 

(2,311

)

 

 

(6,968

)

 

 

(5,218

)

 

 

(4,485

)

Loss before income (benefit) tax expense

 

(141,674

)

 

 

(77,067

)

 

 

(108,645

)

 

 

(35,224

)

Income tax (benefit) expense

 

(779

)

 

 

(674

)

 

 

622

 

 

 

139

 

Net loss

$

(140,895

)

 

$

(76,393

)

 

$

(109,267

)

 

$

(35,363

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per share - basic and diluted

$

(2.05

)

 

$

(1.15

)

 

$

(1.67

)

 

$

(0.55

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares of common stock used in

   computing basic and diluted net loss per share

 

68,653

 

 

 

66,209

 

 

 

65,484

 

 

 

64,631