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Significant Accounting Policies (Tables)
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12 Months Ended |
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Dec. 31, 2013
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| Accounting Policies [Abstract] |
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| Fair Value of the Company's Investments by Type |
The following tables summarize the fair value of the
Company’s investments by type. The estimated fair value of
the Company’s fixed income investments are classified as
Level 2 in the fair value hierarchy as defined in U.S. GAAP with
the exception of U.S. Treasury securities, which are classified as
Level 1. These valuations are based on observable direct and
indirect inputs, primarily quoted prices of similar, but not
identical, instruments in active markets or quoted prices for
identical or similar instruments in markets that are not active.
These fair values are obtained from independent pricing services
which utilize Level 2 inputs.
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December 31, 2013 |
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Gross |
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Gross |
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Amortized |
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Accrued |
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Unrealized |
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Unrealized |
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Estimated |
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Cost |
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Interest |
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Gains |
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Losses |
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Fair Value |
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Obligations of U.S. Government and its agencies
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$ |
4,899 |
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$ |
1 |
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$ |
1 |
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$ |
— |
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$ |
4,901 |
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Corporate debt securities
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8,528 |
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47 |
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2 |
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1 |
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8,576 |
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Commercial paper
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5,994 |
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— |
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2 |
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— |
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5,996 |
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Total investments
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$ |
19,421 |
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$ |
48 |
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$ |
5 |
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$ |
1 |
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$ |
19,473 |
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December 31, 2012 |
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Gross |
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Gross |
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Amortized |
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Accrued |
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Unrealized |
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Unrealized |
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Estimated |
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Cost |
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Interest |
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Gains |
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Losses |
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Fair Value |
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U.S. Treasury securities
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$ |
999 |
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$ |
2 |
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$ |
2 |
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$ |
— |
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$ |
1,003 |
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Obligations of U.S. Government and its agencies
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3,505 |
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6 |
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2 |
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— |
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3,513 |
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Corporate debt securities
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4,035 |
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22 |
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6 |
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— |
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4,063 |
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Commercial paper
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1,695 |
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— |
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1 |
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— |
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1,696 |
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Municipal obligations
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5,541 |
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27 |
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16 |
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— |
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5,584 |
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Total investments
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$ |
15,775 |
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$ |
57 |
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$ |
27 |
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$ |
— |
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$ |
15,859 |
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| Scheduled Maturity for the Company's Investments |
The following table summarizes the scheduled maturity for the
Company’s investments at December 31, 2013 and 2012.
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2013 |
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2012 |
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Maturing in one year or less
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$ |
16,891 |
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$ |
14,708 |
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Maturing after one year through two years
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2,582 |
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1,151 |
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Maturing after two years
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— |
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— |
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Total investments
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$ |
19,473 |
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$ |
15,859 |
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| Summary of Receivables |
These receivables are evaluated to determine if any reserve or
allowance should be established at each reporting date. At
December 31, 2013 and 2012 the Company had the following
receivables.
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December 31, 2013 |
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Billed |
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Unbilled |
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Total |
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U.S. Department of Health and Human Services
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$ |
90 |
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$ |
1,573 |
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$ |
1,663 |
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Shionogi & Co. Ltd.
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452 |
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— |
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452 |
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Total receivables
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$ |
542 |
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$ |
1,573 |
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$ |
2,115 |
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December 31, 2012 |
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Billed |
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Unbilled |
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Total |
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U.S. Department of Health and Human Services
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$ |
150 |
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$ |
3,888 |
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$ |
4,038 |
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Shionogi & Co. Ltd.
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524 |
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— |
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524 |
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Total receivables
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$ |
674 |
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$ |
3,888 |
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$ |
4,562 |
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| Components of Inventories |
The Company’s inventory consisted of the following:
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As of December 31, |
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2013 |
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2012 |
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Supplies
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$ |
263 |
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$ |
263 |
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Finished goods
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3,980 |
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3,980 |
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Reserve for finished goods and supplies
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(4,243 |
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(4,243 |
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Net inventories
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$ |
— |
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$ |
— |
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| Summary of Revenues |
The Company recorded the following revenues for the years ended
December 31:
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2013 |
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2012 |
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2011 |
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Royalty revenue
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$ |
2,562 |
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$ |
3,317 |
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$ |
— |
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Collaborative and other research and development revenues:
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U.S. Department of Health and Human Services
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13,585 |
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14,026 |
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17,099 |
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Shionogi (Japan)
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1,184 |
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1,184 |
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1,181 |
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Mundipharma (United Kingdom)
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— |
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7,766 |
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1,277 |
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Grants (United States)
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— |
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— |
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86 |
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Total collaborative and other research and development revenues
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14,769 |
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22,976 |
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19,643 |
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Total revenues
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$ |
17,331 |
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$ |
26,293 |
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$ |
19,643 |
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| Schedule of Activity in the Restructuring Liability |
The following table sets forth activity in the restructuring
liability for the years ended December 31, 2013, 2012 and
2011.
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Employee
separation
costs |
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Facilities
related
charges |
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Total |
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Balance at December 31, 2010
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$ |
158 |
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$ |
— |
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$ |
158 |
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Accruals
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(158 |
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— |
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(158 |
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Balance at December 31, 2011
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— |
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— |
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— |
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Accruals
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1,662 |
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97 |
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1,759 |
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Payments
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(58 |
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— |
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(58 |
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Balance at December 31, 2012
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1,604 |
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97 |
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1,701 |
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Accruals
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— |
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(97 |
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(97 |
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Payments
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(1,604 |
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— |
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(1,604 |
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Balance at December 31, 2013
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$ |
— |
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$ |
— |
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$ |
— |
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