Selected Quarterly Financial Data

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Note 14 — Selected Quarterly Financial Data (Unaudited)

The following table sets forth certain unaudited quarterly financial data. In our opinion, the unaudited information set forth below has been prepared on the same basis as the audited information and includes all adjustments necessary to present fairly the information set forth herein. We have experienced fluctuations in our quarterly results and expect these fluctuations to continue in the future. Due to these and other factors, we believe that quarter-to-quarter comparisons of our operating results will not be meaningful, and you should not rely on our results for any one quarter as an indication of our future performance. Certain items previously reported in specific financial statement captions have been reclassified to conform to the current period presentation. Such reclassifications have not materially impacted previously reported total revenues, operating loss or net loss. All data is in thousands except per share information.


	Fiscal Year 2014											Fiscal Year 2013
	Q1			Q2			Q3		Q4			Q1			Q2			Q3			Q4
Product sales	$	5,795		$	5,802		$	6,096	$	7,460		$	11,810		$	10,324		$	14,672		$	8,040
Total revenue	$	19,771		$	28,513		$	132,871	$	19,551		$	23,004		$	33,862		$	60,909		$	31,146
Cost of goods sold	$	7,907		$	5,108		$	9,220	$	6,298		$	11,661		$	5,011		$	12,877		$	8,960
Research and development expenses	$	38,338		$	36,702		$	34,200	$	38,494		$	45,618		$	52,230		$	43,914		$	48,248
Operating income (loss)	$	(36,402	)	$	(22,916	)	$	80,321	$	(37,488	)	$	(45,106	)	$	(32,605	)	$	(6,525	)	$	(35,894	)
Net income (loss)	$	(46,201	)	$	(32,637	)	$	70,605	$	(45,683	)	$	(55,063	)	$	(42,748	)	$	(16,543	)	$	(47,659	)
Net income (loss) per share(1)
Basic	$	(0.37	)	$	(0.26	)	$	0.55	$	(0.35	)	$	(0.48	)	$	(0.37	)	$	(0.14	)	$	(0.41	)
Diluted	$	(0.37	)	$	(0.26	)	$	0.53	$	(0.35	)	$	(0.48	)	$	(0.37	)	$	(0.14	)	$	(0.41	)

(1)	Quarterly loss per share amounts may not total to the year-to-date loss per share due to rounding.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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