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Selected Quarterly Financial Data
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data

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 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 the results for any one quarter may not be indicative of our future performance. We have reclassified certain items previously reported in specific financial statement captions to conform to the current period presentation. Such reclassifications have not materially impacted previously reported total revenues, operating income (loss) or net income (loss). All data is in thousands except per share information.

 

 

 

Year Ended December 31, 2018

 

 

Year Ended December 31, 2017

 

 

 

Q1

 

 

Q2

 

 

Q3

 

 

Q4

 

 

Q1

 

 

Q2

 

 

Q3

 

 

Q4

 

Product sales

 

$

6,295

 

 

$

5,863

 

 

$

4,256

 

 

$

4,360

 

 

$

4,756

 

 

$

15,693

 

 

$

4,448

 

 

$

7,791

 

Total revenue

 

$

38,018

 

 

$

1,087,717

 

 

$

27,762

 

 

$

39,826

 

 

$

24,728

 

 

$

34,589

 

 

$

152,928

 

 

$

95,466

 

Cost of goods sold

 

$

6,646

 

 

$

5,522

 

 

$

4,783

 

 

$

7,461

 

 

$

6,131

 

 

$

8,989

 

 

$

5,674

 

 

$

9,753

 

Research and development expenses

 

$

99,424

 

 

$

88,334

 

 

$

102,895

 

 

$

108,883

 

 

$

61,058

 

 

$

60,260

 

 

$

65,714

 

 

$

81,429

 

Operating income (loss)

 

$

(86,739

)

 

$

973,600

 

 

$

(98,634

)

 

$

(100,295

)

 

$

(54,437

)

 

$

(50,656

)

 

$

69,485

 

 

$

(24,034

)

Net income (loss)

 

$

(95,792

)

 

$

971,460

 

 

$

(96,143

)

 

$

(98,212

)

 

$

(63,866

)

 

$

(59,871

)

 

$

60,871

 

 

$

(33,826

)

Net income (loss) per share(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(0.60

)

 

$

5.67

 

 

$

(0.56

)

 

$

(0.57

)

 

$

(0.42

)

 

$

(0.39

)

 

$

0.39

 

 

$

(0.21

)

Diluted

 

$

(0.60

)

 

$

5.33

 

 

$

(0.56

)

 

$

(0.57

)

 

$

(0.42

)

 

$

(0.39

)

 

$

0.37

 

 

$

(0.21

)

 

(1)

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