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Selected Quarterly Financial Data (Tables)
12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data

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 our 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.

 

 

 

Year Ended December 31, 2016

 

 

Year Ended December 31, 2015

 

 

 

Q1

 

 

Q2

 

 

Q3

 

 

Q4

 

 

Q1

 

 

Q2

 

 

Q3

 

 

Q4

 

Product sales

 

$

14,099

 

 

$

12,867

 

 

$

14,698

 

 

$

13,690

 

 

$

7,974

 

 

$

10,968

 

 

$

7,240

 

 

$

13,973

 

Total revenue

 

$

58,882

 

 

$

32,768

 

 

$

36,336

 

 

$

37,450

 

 

$

108,801

 

 

$

22,661

 

 

$

59,952

 

 

$

39,370

 

Cost of goods sold

 

$

8,870

 

 

$

7,708

 

 

$

7,033

 

 

$

6,604

 

 

$

8,444

 

 

$

10,534

 

 

$

6,760

 

 

$

8,364

 

Research and development expenses

 

$

49,268

 

 

$

52,350

 

 

$

51,951

 

 

$

50,232

 

 

$

47,011

 

 

$

45,412

 

 

$

43,229

 

 

$

47,135

 

Operating income (loss)

 

$

(9,484

)

 

$

(38,325

)

 

$

(32,901

)

 

$

(32,145

)

 

$

43,043

 

 

$

(43,469

)

 

$

419

 

 

$

(29,364

)

Net income (loss)

 

$

(19,498

)

 

$

(48,603

)

 

$

(43,224

)

 

$

(42,199

)

 

$

33,820

 

 

$

(52,657

)

 

$

(8,203

)

 

$

(54,137

)

Net income (loss) per share(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(0.14

)

 

$

(0.36

)

 

$

(0.32

)

 

$

(0.28

)

 

$

0.26

 

 

$

(0.40

)

 

$

(0.06

)

 

$

(0.40

)

Diluted

 

$

(0.14

)

 

$

(0.36

)

 

$

(0.32

)

 

$

(0.28

)

 

$

0.25

 

 

$

(0.40

)

 

$

(0.06

)

 

$

(0.40

)

 

(1)

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