|
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)
|
3 Months Ended |
|
Mar. 31, 2015
|
Mar. 31, 2014
|
| REVENUES: |
|
|
| Manufacturing and royalty revenues |
$ 128,744,000 |
$ 111,280,000 |
| Product sales, net |
31,137,000 |
17,079,000 |
| Research and development revenue |
1,333,000 |
1,853,000 |
| Total revenues |
161,214,000 |
130,212,000 |
| EXPENSES: |
|
|
| Cost of goods manufactured and sold (exclusive of amortization of acquired intangible assets shown below) |
39,974,000 |
38,839,000 |
| Research and development |
70,278,000 |
52,140,000 |
| Selling, general and administrative |
63,050,000 |
42,550,000 |
| Amortization of acquired intangible assets |
15,220,000 |
12,576,000 |
| Total expenses |
188,522,000 |
146,105,000 |
| OPERATING LOSS |
(27,308,000) |
(15,893,000) |
| OTHER EXPENSE, NET: |
|
|
| Interest income |
660,000 |
511,000 |
| Interest expense |
(3,288,000) |
(3,356,000) |
| Other expense, net |
(211,000) |
(1,850,000) |
| Total other expense, net |
(2,839,000) |
(4,695,000) |
| LOSS BEFORE INCOME TAXES |
(30,147,000) |
(20,588,000) |
| PROVISION FOR INCOME TAXES |
510,000 |
3,766,000 |
| NET LOSS |
(30,657,000) |
(24,354,000) |
| LOSS PER COMMON SHARE |
|
|
| Basic and diluted (in dollars per share) |
$ (0.21) |
$ (0.17) |
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING: |
|
|
| Basic and diluted (in shares) |
148,089,000 |
143,358,000 |
| COMPREHENSIVE LOSS |
|
|
| Net loss |
(30,657,000) |
(24,354,000) |
| Unrealized gains (losses) on marketable securities, net of tax: |
|
|
| Holding gains (losses), net of tax of $209 and $1,453, respectively |
489,000 |
(2,531,000) |
| Unrealized gains (losses) on marketable securities |
489,000 |
(2,531,000) |
| COMPREHENSIVE LOSS |
$ (30,168,000) |
$ (26,885,000) |