Agenus (AGEN) 10-Q 9 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 02, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,016
Entity Registrant Name	AGENUS INC
Entity Central Index Key	1,098,972
Trading Symbol	AGEN
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		87,126,180

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 75,438,489	$ 136,702,873
Short-term investments	19,960,567	34,964,730
Inventories	88,200	88,200
Accounts Receivable	10,284,267	9,800,342
Prepaid expenses	3,029,182	1,956,941
Other current assets	725,519	582,280
Total current assets	109,526,224	184,095,366
Property, plant and equipment, net of accumulated amortization and depreciation of $31,359,385 and $29,488,793 at September 30, 2016 and December 31, 2015, respectively	23,508,290	15,310,623
Goodwill	23,165,457	22,792,778
Acquired intangible assets, net of accumulated amortization of $2,705,219 and $987,394 at September 30, 2016 and December 31, 2015, respectively	17,218,224	18,759,662
Other long-term assets	1,423,690	1,270,055
Total assets	174,841,885	242,228,484
LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY
Current portion, long-term debt	146,061	146,061
Current portion, deferred revenue	2,610,729	3,829,371
Accounts payable	3,267,788	4,488,561
Accrued liabilities	21,533,583	14,165,816
Other current liabilities	7,290,750	6,304,281
Total current liabilities	34,848,911	28,934,090
Long-term debt, net of current portion	126,263,126	114,326,489
Deferred revenue, net of current portion	12,997,414	15,065,754
Contingent purchase price considerations	16,962,000	5,608,000
Other long-term liabilities	4,809,858	7,566,601
Commitments and contingencies
STOCKHOLDERS’(DEFICIT) EQUITY
Common stock, par value $0.01 per share; 240,000,000 and 140,000,000 shares authorized at September 30, 2016 and December 31, 2015, respectively; 87,115,524 and 86,390,697 shares issued at September 30, 2016 and December 31, 2015, respectively	871,155	863,907
Additional paid-in capital	858,854,694	851,103,934
Accumulated other comprehensive loss	(1,559,541)	(2,053,143)
Accumulated deficit	(879,206,048)	(779,187,464)
Total stockholders’ (deficit) equity	(21,039,424)	70,727,550
Total liabilities and stockholders’ (deficit) equity	174,841,885	242,228,484
Series A-1 convertible preferred stock [Member]
STOCKHOLDERS’(DEFICIT) EQUITY
Preferred stock, par value $0.01 per share; 5,000,000 shares authorized: Series A-1 convertible preferred stock; 31,620 shares designated, issued, and outstanding at September 30, 2016 and December 31, 2015; liquidation value of $32,368,496 at September 30, 2016	$ 316	$ 316

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Property plant and equipment, accumulated amortization and depreciation	$ 31,359,385	$ 29,488,793
Acquired intangible assets, accumulated amortization	$ 2,705,219	$ 987,394
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	240,000,000	140,000,000
Common stock, shares issued	87,115,524	86,390,697
Series A-1 convertible preferred stock [Member]
Series A-1 convertible preferred stock, shares designated	31,620	31,620
Series A-1 convertible preferred stock, shares issued	31,620	31,620
Series A-1 convertible preferred stock, shares outstanding	31,620	31,620
Series A-1 convertible preferred stock, liquidation value	$ 32,368,496

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenue:
Service			$ 147,456
Research and development	$ 4,446,171	$ 6,848,194	16,849,876	$ 17,178,191
Total revenues	4,446,171	6,848,194	16,997,332	17,178,191
Operating expenses:
Research and development	(21,588,026)	(18,502,063)	(68,988,290)	(52,495,316)
General and administrative	(8,107,262)	(6,407,902)	(24,456,016)	(19,910,650)
Contingent purchase price consideration fair value adjustment	(10,975,000)	6,994,000	(11,354,000)	(7,326,700)
Operating loss	(36,224,117)	(11,067,771)	(87,800,974)	(62,554,475)
Other expense:
Non-operating expense	(139,636)	(653,376)	(325,347)	(7,356,139)
Interest expense, net	(4,409,767)	(1,401,102)	(12,745,581)	(2,363,484)
Net loss	(40,773,520)	(13,122,249)	(100,871,902)	(72,274,098)
Dividends on Series A-1 convertible preferred stock	(51,102)	(50,780)	(153,064)	(152,099)
Net loss attributable to common stockholders	$ (40,824,622)	$ (13,173,029)	$ (101,024,966)	$ (72,426,197)
Per common share data:
Basic and diluted net loss attributable to common stockholders	$ (0.47)	$ (0.16)	$ (1.16)	$ (0.95)
Weighted average number of common shares outstanding:
Basic and diluted	87,206,685	84,569,118	86,954,060	75,935,985
Other comprehensive income (loss):
Foreign currency translation gain (loss)	$ 98,514	$ (680,993)	$ 493,602	$ 625,132
Unrealized gain on investments		7,760		13,650
Other comprehensive gain (loss)	98,514	(673,233)	493,602	638,782
Comprehensive loss	$ (40,726,108)	$ (13,846,262)	$ (100,531,364)	$ (71,787,415)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net loss	$ (100,871,902)	$ (72,274,098)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	3,658,483	1,403,324
Share-based compensation	8,701,292	5,218,479
Non-cash interest expense	12,193,674	1,643,417
In-process research and development purchase		12,245,230
Change in fair value of contingent obligations	11,354,000	14,190,000
Loss on extinguishment of debt		154,117
Changes in operating assets and liabilities:
Accounts receivable	(480,833)	(7,232,669)
Inventories		7,500
Prepaid expenses	(1,067,534)	(693,981)
Accounts payable	(1,272,690)	1,266,219
Deferred revenue	(3,286,987)	18,465,694
Accrued liabilities and other current liabilities	6,340,539	8,390,007
Other operating assets and liabilities	887,383	(10,367,586)
Net cash used in operating activities	(63,844,575)	(27,584,347)
Cash flows from investing activities:
Purchases of plant and equipment	(8,191,515)	(2,818,429)
Purchases of held-to-maturity securities	(54,884,101)	(15,006,730)
Proceeds from securities held-to-maturity	70,000,000	14,534,486
Net cash provided by (used in) investing activities	6,924,384	(3,290,673)
Cash flows from financing activities:
Net proceeds from sale of equity		109,669,980
Proceeds from employee stock purchases and option exercises	1,092,722	1,963,738
Purchase of treasury shares to satisfy tax withholdings	(667,050)
Proceeds from issuance of long-term debt		109,000,000
Debt issuance costs		(1,774,323)
Payments of debt		(1,111,112)
Payment of contingent purchase price consideration		(8,380,483)
Payment under a purchase agreement for in-process research and development	(5,000,000)
Payment of contingent royalty obligation		(20,000,000)
Payment of capital lease obligation	(72,330)
Net cash (used in) provided by financing activities	(4,646,658)	189,367,800
Effect of exchange rate changes on cash	302,465	(68,339)
Net (decrease) increase in cash and cash equivalents	(61,264,384)	158,424,441
Cash and cash equivalents, beginning of period	136,702,873	25,714,519
Cash and cash equivalents, end of period	75,438,489	184,138,960
Supplemental cash flow information:
Cash paid for interest	837,699	770,538
Supplemental disclosures - non-cash activities:
Purchases of plant and equipment in accounts payable and accrued liabilities	$ 1,000,101	111,903
Contingent royalty obligation [Member]
Supplemental disclosures - non-cash activities:
Issuance of common stock		2,142,000
Contingent purchase price obligation [Member]
Supplemental disclosures - non-cash activities:
Issuance of common stock		344,500
SECANT Yeast Display technology [Member]
Supplemental disclosures - non-cash activities:
Issuance of common stock		$ 3,000,000

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical)	Sep. 30, 2015$ / shares
Contingent royalty obligation [Member]
Supplemental disclosures - non-cash activities:
Common stock, par value	$ 0.01
Contingent purchase price obligation [Member]
Supplemental disclosures - non-cash activities:
Common stock, par value	0.01
SECANT Yeast Display technology [Member]
Supplemental disclosures - non-cash activities:
Common stock, par value	$ 0.01

Business, Liquidity and Basis o

Business, Liquidity and Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Description Of Business [Abstract]
Business, Liquidity And Basis of Presentation	Note A - Business, Liquidity and Basis of Presentation Agenus Inc. (including its subsidiaries, collectively referred to as “Agenus,” the “Company,” “we,” “us,” and “our”) is an immuno-oncology company focused on the discovery and development of new treatments that engage the body’s immune system to benefit patients suffering from cancer. We are developing a comprehensive immuno-oncology portfolio driven by the following platforms and programs, which we intend to utilize individually and in combination: • our antibody discovery platforms, including our Retrocyte Display™, SECANT ® • our antibody candidate programs, including our checkpoint modulator (“CPM”) programs; • our vaccine programs, including Prophage™, AutoSynVax™ and PhosphoSynVax™; and • our saponin-based vaccine adjuvants, principally our QS-21 Stimulon ® We have a portfolio of programs in various stages of development, including a series of antibodies in discovery and pre-clinical and clinical development, our Prophage vaccine, a Heat Shock Protein (“HSP”)-based autologous vaccine candidate for a form of brain cancer that has successfully completed Phase 2 trials, and a number of advanced QS-21 Stimulon-containing vaccine candidates in late stage development by our licensee, GlaxoSmithKline (“GSK”). Our core antibody technologies include our antibody discovery platforms that are designed to effectively discover and produce quality human antibodies against antigens of interest. We and our partners currently have programs targeting GITR, OX40, CTLA-4, LAG-3, TIM-3, PD-1, CEACAM1 and other undisclosed targets. Our business activities include product research and development, intellectual property prosecution, manufacturing, regulatory and clinical affairs, corporate finance and development activities, and support of our collaborations. Our product candidates require clinical trials and approvals from regulatory agencies, as well as acceptance in the marketplace. Part of our strategy is to develop and commercialize some of our product candidates by continuing our existing arrangements with academic and corporate collaborators and licensees and by entering into new collaborations. Our cash, cash equivalents, and short-term investments at September 30, 2016 were $95.4 million, a decrease of $76.3 million from December 31, 2015. The following table outlines our quarter end cash, cash equivalents and short-term investments balances and the changes therein. Quarter ended March 31, 2016 June 30, 2016 September 30, 2016 (in millions) Cash, cash equivalents and short-term investments $ 148.2 $ 123.3 $ 95.4 Decrease in cash, cash equivalents and short-term investments $ 23.5 $ 24.9 $ 27.9 Cash used in operating activities $ 21.5 $ 18.5 $ 23.8 Reported net loss $ 31.8 $ 28.3 $ 40.8 We have incurred significant losses since our inception. As of September 30, 2016, we had an accumulated deficit of $879.2 million. Since our inception, we have financed our operations primarily through the sale of equity and convertible and other notes, and interest income earned on cash, cash equivalents, and short-term investments balances. We believe that, based on our current plans and activities, our cash, cash equivalents and short-term investments balance of $95.4 million as of September 30, 2016 will be sufficient to satisfy our liquidity requirements through the first half of 2017. We expect to raise additional funds in advance of depleting our current funds. We continue to monitor the likelihood of success of our key initiatives and are prepared to discontinue funding of such activities if they do not prove to be feasible, restrict capital expenditures and/or reduce the scale of our operations, if necessary. The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete annual consolidated financial statements. In the opinion of our management, the condensed consolidated financial statements include all normal and recurring adjustments considered necessary for a fair presentation of our financial position and operating results. All significant intercompany transactions and accounts have been eliminated in consolidation. Operating results for the nine months ended September 30, 2016, are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. For further information, refer to our consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015 filed with the Securities and Exchange Commission (the “SEC”) on March 15, 2016. Effective June 14, 2016, our certificate of incorporation was amended to increase the number of authorized shares of common stock from 140,000,000 to 240,000,000. For our foreign subsidiaries the local currency is the functional currency. Assets and liabilities of our foreign subsidiaries are translated into U.S. dollars using rates in effect at the balance sheet date while revenues and expenses are translated into U.S. dollars using average exchange rates during the period. The cumulative translation adjustment resulting from changes in exchange rates are included in the consolidated balance sheets as a component of accumulated other comprehensive loss in total stockholders’ (deficit) equity. The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances. Actual results could differ materially from those estimates.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Net Loss Per Share	Note B - Net Loss Per Share Basic net loss per common share is calculated by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding (including common shares issuable under our Directors’ Deferred Compensation Plan, or “DDCP”). Diluted income per common share is calculated by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding (including common shares issuable under our DDCP) plus the dilutive effect of outstanding instruments such as warrants, stock options, nonvested shares, convertible preferred stock, and convertible notes. Because we reported a net loss attributable to common stockholders for all periods presented, diluted loss per common share is the same as basic loss per common share, as the effect of utilizing the fully diluted share count would have reduced the net loss per common share. Therefore, the following potentially dilutive securities have been excluded from the computation of diluted weighted average shares outstanding as of September 30, 2016 and 2015, as they would be anti-dilutive: Nine Months Ended September 30, 2016 2015 Warrants 4,351,450 4,351,450 Stock options 11,761,554 8,226,791 Nonvested shares 1,937,023 1,734,821 Convertible preferred stock 333,333 333,333

Investments

Investments	9 Months Ended
	Sep. 30, 2016
Cash And Cash Equivalents [Abstract]
Investments	Note C - Investments Cash equivalents and short-term investments consisted of the following as of September 30, 2016 and December 31, 2015 (in thousands): September 30, 2016 December 31, 2015 Cost Estimated Fair Value Cost Estimated Fair Value Institutional money market funds $ 28,284 $ 28,284 $ 106,370 $ 106,370 U.S. Treasury Bills 44,941 44,941 54,945 54,961 Total $ 73,225 $ 73,225 $ 161,315 $ 161,331 For the nine months ended September 30, 2016, we received proceeds of approximately $100.0 million from the maturity of U.S. Treasury Bills classified as cash equivalents and $70.0 million Treasury Bills classified as short-term investments. As a result of the short-term nature of our investments, there were minimal unrealized holding gains or losses for the three and nine months ended September 30, 2016 and 2015. Of the investments listed above, $53.3 million and $126.4 million have been classified as cash equivalents and $19.9 million and $35.0 million as short-term investments on our condensed consolidated balance sheets as of September 30, 2016 and December 31, 2015, respectively.

Goodwill and Acquired Intangibl

Goodwill and Acquired Intangible Assets	9 Months Ended
	Sep. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Acquired Intangible Assets	Note D - Goodwill and Acquired Intangible Assets The following table sets forth the changes in the carrying amount of goodwill for the nine months ended September 30, 2016 (in thousands): Balance, December 31, 2015 $ 22,793 Foreign currency translation adjustment 372 Balance, September 30, 2016 $ 23,165 Acquired intangible assets consisted of the following as of September 30, 2016 and December 31, 2015 (in thousands): As of September 30, 2016 Amortization period (years) Gross carrying amount Accumulated amortization Net carrying amount Intellectual property 7-15 years $ 16,578 $ (1,958 ) $ 14,620 Trademarks 4.5 years 832 (486 ) 346 Other 2-6 years 571 (261 ) 310 In-process research and development Indefinite 1,942 - 1,942 Total $ 19,923 $ (2,705 ) $ 17,218 As of December 31, 2015 Amortization period (years) Gross carrying amount Accumulated amortization Net carrying amount Intellectual property 7-15 years $ 16,472 $ (541 ) $ 15,931 Trademarks 4.5 years 812 (339 ) 473 Other 2-6 years 567 (107 ) 460 In-process research and development Indefinite 1,896 — 1,896 Total $ 19,747 $ (987 ) $ 18,760 The weighted average amortization period of our finite-lived intangible assets is 9 years. Amortization expense related to acquired intangibles is estimated at $800,000 for the remainder of 2016, $2.2 million for the year ending December 31, 2017, $2.1 million for the year ending December 31, 2018 and $1.9 million for each of the years ending December 31, 2019 and 2020.

Debt

Debt	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt	Note E - Debt Debt obligations consisted of the following as of September 30, 2016 and December 31, 2015 (in thousands): Debt instrument Principal at September 30, 2016 Non-cash Interest Unamortized Debt Issuance Costs Unamortized Debt Discount Balance at September 30, 2016 Current Portion: Debentures $ 146 $ — $ — $ — $ 146 Long-term Portion: 2015 Subordinated Notes 14,000 — — (1,570 ) 12,430 Note Purchase Agreement 100,000 15,438 (1,378 ) (227 ) 113,833 Total long-term $ 114,000 $ 15,438 $ (1,378 ) $ (1,797 ) $ 126,263 Total $ 114,146 $ 15,438 $ (1,378 ) $ (1,797 ) $ 126,409 Debt instrument Principal at December 31, 2015 Non-cash Interest Unamortized Debt Issuance Costs Unamortized Debt Discount Balance at December 31, 2015 Current Portion: Debentures $ 146 $ — $ — $ — $ 146 Long-term Portion: 2015 Subordinated Notes 14,000 — — (2,292 ) 11,708 Note Purchase Agreement 100,000 4,342 (1,481 ) (243 ) 102,618 Total long-term $ 114,000 $ 4,342 $ (1,481 ) $ (2,535 ) $ 114,326 Total $ 114,146 $ 4,342 $ (1,481 ) $ (2,535 ) $ 114,472 In June 2016, we executed a capital lease agreement that expires in June 2020 for equipment with a carrying value of approximately $1.0 million, which is included in property, plant and equipment, net on our condensed consolidated balance sheets as of September 30, 2016. Under the terms of the capital lease agreement, we will remit payments to the lessor of $72,000 for the remainder of 2016, $288,000 for each of the years 2017 through 2019 and $144,000 for the year ending December 31, 2020. As of September 30, 2016, our remaining obligations under the capital lease agreement are approximately $1.0 million, of which $300,000 and $665,000 are classified as other current and other long-term liabilities, respectively, on our condensed consolidated balance sheets.

Accrued and Other Current Liabi

Accrued and Other Current Liabilities	9 Months Ended
	Sep. 30, 2016
Other Liabilities Disclosure [Abstract]
Accrued and Other Current Liabilities	Note F - Accrued and Other Current Liabilities Accrued liabilities consisted of the following as of September 30, 2016 and December 31, 2015 (in thousands): September 30, 2016 December 31, 2015 Payroll $ 5,218 $ 4,600 Professional fees 4,431 3,343 Contract manufacturing costs 7,531 3,886 Other 4,354 2,337 Total $ 21,534 $ 14,166 Other current liabilities consisted of the following as of September 30, 2016 and December 31, 2015 (in thousands): September 30, 2016 December 31, 2015 Current portion of deferred purchase price $ 4,895 $ 5,906 Other 2,396 398 Total $ 7,291 $ 6,304

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2016
Fair Value Measurements [Abstract]
Fair Value Measurements	Note G - Fair Value Measurements We measure our cash equivalents and short-term investments and contingent purchase price considerations at fair value. Our cash equivalents and short-term investments are comprised solely of U.S. Treasury Bills that are valued using quoted market prices with no valuation adjustments applied. Accordingly, these securities are categorized as Level 1 assets. The fair values of our contingent purchase price considerations, $17.0 million, are based on significant inputs not observable in the market, which require it to be reported as Level 3 liabilities within the fair value hierarchy. The valuation of these liabilities use assumptions we believe would be made by a market participant and are based on estimates from a Monte Carlo simulation of our market capitalization and share price, and other factors impacting the probability of triggering the milestone payments. Market capitalization and share price were evolved using a geometric brownian motion, calculated daily for the life of the contingent purchase price considerations. Assets and liabilities measured at fair value are summarized below (in thousands): Description September 30, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Cash equivalents $ 24,980 $ 24,980 $ — $ — Short-term investments 19,961 19,961 — — Total $ 44,941 $ 44,941 $ — $ — Liabilities: Contingent purchase price considerations $ 16,962 $ — $ — $ 16,962 Description December 31, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Cash equivalents $ 19,996 $ 19,996 $ — $ — Short-term investments 34,965 34,965 — — Total $ 54,961 $ 54,961 $ — $ — Liabilities: Contingent purchase price considerations $ 5,608 $ — $ — $ 5,608 The following table presents our liabilities measured at fair value using significant unobservable inputs (Level 3), as of September 30, 2016 (in thousands): Balance, December 31, 2015 $ 5,608 Change in fair value of contingent purchase price considerations during the period 11,354 Balance, September 30, 2016 $ 16,962 The estimated fair values of all of our financial instruments, excluding our outstanding debt, approximate their carrying amounts in our condensed consolidated balance sheets. The fair value of our outstanding debt balance at September 30, 2016 and December 31, 2015 was $125.7 million and $115.9 million, respectively, based on the Level 2 valuation hierarchy of the fair value measurements standard using a present value methodology that was derived by evaluating the nature and terms of each note and considering the prevailing economic and market conditions at the balance sheet date. The principal amount of our outstanding debt balance at September 30, 2016 and December 31, 2015 was $129.6 million, inclusive of $15.4 million of accrued interest, and $118.5 million, inclusive of $4.3 million of accrued interest, respectively.

Share-Based Compensation Plans

Share-Based Compensation Plans	9 Months Ended
	Sep. 30, 2016
Share Based Compensation [Abstract]
Share-Based Compensation Plans	Note H - Share-based Compensation Plans We primarily use the Black-Scholes option pricing model to value stock options granted to employees and non-employees, including stock options granted to members of our Board of Directors. All stock options have 10-year terms and generally vest ratably over a 3 or 4-year period. A non-cash charge to operations for the stock options granted to non-employees that have vesting or other performance criteria is affected each reporting period, until the non-employee options vest, by changes in the fair value of our common stock. A summary of option activity for the nine months ended September 30, 2016 is presented below: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding at December 31, 2015 8,345,835 $ 4.77 Granted 4,252,739 4.26 Exercised (198,636 ) 3.31 Forfeited (452,604 ) 5.03 Expired (185,780 ) 8.75 Outstanding at September 30, 2016 11,761,554 $ 4.53 7.70 $ 32,843,626 Vested or expected to vest at September 30, 2016 10,599,495 $ 4.55 7.57 $ 29,971,443 Exercisable at September 30, 2016 5,624,490 $ 4.68 6.23 $ 15,941,877 The weighted average grant-date fair values of stock options granted during the nine months ended September 30, 2016 and 2015 were $2.38 and $3.85, respectively. As of September 30, 2016, $11.4 million of total unrecognized compensation cost related to stock options granted to employees and directors is expected to be recognized over a weighted average period of 2.4 years. As of September 30, 2016, unrecognized expense for options granted to outside advisors for which performance (vesting) has not yet been completed but the exercise price of the option is known is $308,000. Such amount is subject to change each reporting period based upon changes in the fair value of our common stock, expected volatility, and the risk-free interest rate, until the outside advisor completes his or her performance under the option agreement. Certain employees and consultants have been granted nonvested stock. The fair value of nonvested stock is calculated based on the closing sale price of our common stock on the date of issuance. A summary of nonvested stock activity for the nine months ended September 30, 2016 is presented below: Nonvested Shares Weighted Average Grant Fair Value Outstanding at December 31, 2015 1,730,604 $ 8.55 Granted 935,438 2.91 Vested (570,037 ) 8.52 Forfeited (158,982 ) 8.05 Outstanding at September 30, 2016 1,937,023 $ 6.51 As of September 30, 2016, there was approximately $10.4 million of unrecognized share-based compensation expense related to these nonvested shares awarded to employees which pertained primarily to performance based awards for which, if all milestones are achieved, will be recognized over a 1.6 year period. The total intrinsic value of shares vested during the nine months ended September 30, 2016, was $2.4 million. During the nine months ended September 30, 2016, 121,228 shares were issued under the 2009 Employee Stock Purchase Plan, 570,037 shares were issued as a result of the vesting of nonvested stock and 198,636 shares were issued as a result of stock option exercises. The impact on our results of operations from share-based compensation for the three and nine months ended September 30, 2016 and 2015, was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Research and development $ 818 $ 453 $ 3,689 $ 1,695 General and administrative 1,565 320 5,012 3,523 Total share-based compensation expense $ 2,383 $ 773 $ 8,701 $ 5,218

Benefit Plans

Benefit Plans	9 Months Ended
	Sep. 30, 2016
Compensation And Retirement Disclosure [Abstract]
Benefit Plans	Note I - Benefit Plans We maintain a multiple employer benefit plan that covers our international employees. The annual measurement date for this plan is December 31. Benefits are based upon years of service and compensation. For the three and nine months ended September 30, 2016, we contributed approximately $41,000 and $119,000, respectively and for the three and nine months ended September 30, 2015 we contributed approximately $26,000 and $80,000, respectively, to our international multiple employer benefit plan. For the remainder of the year ending December 31, 2016, we expect to contribute approximately $28,000 to our international multiple employer benefit plan.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2016
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Pronouncements	Note J - Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers, In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In March 2016, the FASB issued ASU 2016-09 , Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting No other new accounting pronouncement issued or effective during the fiscal year had or is expected to have a material impact on our consolidated financial statements or disclosures.

Net Loss Per Share (Policies)

Net Loss Per Share (Policies)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Net Loss Per Share	Note B - Net Loss Per Share Basic net loss per common share is calculated by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding (including common shares issuable under our Directors’ Deferred Compensation Plan, or “DDCP”). Diluted income per common share is calculated by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding (including common shares issuable under our DDCP) plus the dilutive effect of outstanding instruments such as warrants, stock options, nonvested shares, convertible preferred stock, and convertible notes. Because we reported a net loss attributable to common stockholders for all periods presented, diluted loss per common share is the same as basic loss per common share, as the effect of utilizing the fully diluted share count would have reduced the net loss per common share. Therefore, the following potentially dilutive securities have been excluded from the computation of diluted weighted average shares outstanding as of September 30, 2016 and 2015, as they would be anti-dilutive: Nine Months Ended September 30, 2016 2015 Warrants 4,351,450 4,351,450 Stock options 11,761,554 8,226,791 Nonvested shares 1,937,023 1,734,821 Convertible preferred stock 333,333 333,333

Business, Liquidity and Basis18

Business, Liquidity and Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2016
Description Of Business [Abstract]
Schedule of Cash, Cash Equivalents and Short-Term Investments	The following table outlines our quarter end cash, cash equivalents and short-term investments balances and the changes therein. Quarter ended March 31, 2016 June 30, 2016 September 30, 2016 (in millions) Cash, cash equivalents and short-term investments $ 148.2 $ 123.3 $ 95.4 Decrease in cash, cash equivalents and short-term investments $ 23.5 $ 24.9 $ 27.9 Cash used in operating activities $ 21.5 $ 18.5 $ 23.8 Reported net loss $ 31.8 $ 28.3 $ 40.8

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Schedule of Anti-dilutive Securities Excluded from Computation of Diluted Weighted Average Shares Outstanding	the following potentially dilutive securities have been excluded from the computation of diluted weighted average shares outstanding as of September 30, 2016 and 2015, as they would be anti-dilutive: Nine Months Ended September 30, 2016 2015 Warrants 4,351,450 4,351,450 Stock options 11,761,554 8,226,791 Nonvested shares 1,937,023 1,734,821 Convertible preferred stock 333,333 333,333

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2016
Cash And Cash Equivalents [Abstract]
Schedule of Cash Equivalents and Short-term Investments	Cash equivalents and short-term investments consisted of the following as of September 30, 2016 and December 31, 2015 (in thousands): September 30, 2016 December 31, 2015 Cost Estimated Fair Value Cost Estimated Fair Value Institutional money market funds $ 28,284 $ 28,284 $ 106,370 $ 106,370 U.S. Treasury Bills 44,941 44,941 54,945 54,961 Total $ 73,225 $ 73,225 $ 161,315 $ 161,331

Goodwill and Acquired Intangi21

Goodwill and Acquired Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Changes in Goodwill	The following table sets forth the changes in the carrying amount of goodwill for the nine months ended September 30, 2016 (in thousands): Balance, December 31, 2015 $ 22,793 Foreign currency translation adjustment 372 Balance, September 30, 2016 $ 23,165
Schedule of Acquired Intangible Assets	Acquired intangible assets consisted of the following as of September 30, 2016 and December 31, 2015 (in thousands): As of September 30, 2016 Amortization period (years) Gross carrying amount Accumulated amortization Net carrying amount Intellectual property 7-15 years $ 16,578 $ (1,958 ) $ 14,620 Trademarks 4.5 years 832 (486 ) 346 Other 2-6 years 571 (261 ) 310 In-process research and development Indefinite 1,942 - 1,942 Total $ 19,923 $ (2,705 ) $ 17,218 As of December 31, 2015 Amortization period (years) Gross carrying amount Accumulated amortization Net carrying amount Intellectual property 7-15 years $ 16,472 $ (541 ) $ 15,931 Trademarks 4.5 years 812 (339 ) 473 Other 2-6 years 567 (107 ) 460 In-process research and development Indefinite 1,896 — 1,896 Total $ 19,747 $ (987 ) $ 18,760

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of Debt Obligations	Debt obligations consisted of the following as of September 30, 2016 and December 31, 2015 (in thousands): Debt instrument Principal at September 30, 2016 Non-cash Interest Unamortized Debt Issuance Costs Unamortized Debt Discount Balance at September 30, 2016 Current Portion: Debentures $ 146 $ — $ — $ — $ 146 Long-term Portion: 2015 Subordinated Notes 14,000 — — (1,570 ) 12,430 Note Purchase Agreement 100,000 15,438 (1,378 ) (227 ) 113,833 Total long-term $ 114,000 $ 15,438 $ (1,378 ) $ (1,797 ) $ 126,263 Total $ 114,146 $ 15,438 $ (1,378 ) $ (1,797 ) $ 126,409 Debt instrument Principal at December 31, 2015 Non-cash Interest Unamortized Debt Issuance Costs Unamortized Debt Discount Balance at December 31, 2015 Current Portion: Debentures $ 146 $ — $ — $ — $ 146 Long-term Portion: 2015 Subordinated Notes 14,000 — — (2,292 ) 11,708 Note Purchase Agreement 100,000 4,342 (1,481 ) (243 ) 102,618 Total long-term $ 114,000 $ 4,342 $ (1,481 ) $ (2,535 ) $ 114,326 Total $ 114,146 $ 4,342 $ (1,481 ) $ (2,535 ) $ 114,472

Accrued and Other Current Lia23

Accrued and Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2016
Other Liabilities Disclosure [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following as of September 30, 2016 and December 31, 2015 (in thousands): September 30, 2016 December 31, 2015 Payroll $ 5,218 $ 4,600 Professional fees 4,431 3,343 Contract manufacturing costs 7,531 3,886 Other 4,354 2,337 Total $ 21,534 $ 14,166
Other Current Liabilities	Other current liabilities consisted of the following as of September 30, 2016 and December 31, 2015 (in thousands): September 30, 2016 December 31, 2015 Current portion of deferred purchase price $ 4,895 $ 5,906 Other 2,396 398 Total $ 7,291 $ 6,304

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Assets and liabilities measured at fair value are summarized below (in thousands): Description September 30, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Cash equivalents $ 24,980 $ 24,980 $ — $ — Short-term investments 19,961 19,961 — — Total $ 44,941 $ 44,941 $ — $ — Liabilities: Contingent purchase price considerations $ 16,962 $ — $ — $ 16,962 Description December 31, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Cash equivalents $ 19,996 $ 19,996 $ — $ — Short-term investments 34,965 34,965 — — Total $ 54,961 $ 54,961 $ — $ — Liabilities: Contingent purchase price considerations $ 5,608 $ — $ — $ 5,608
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table presents our liabilities measured at fair value using significant unobservable inputs (Level 3), as of September 30, 2016 (in thousands): Balance, December 31, 2015 $ 5,608 Change in fair value of contingent purchase price considerations during the period 11,354 Balance, September 30, 2016 $ 16,962

Share-Based Compensation Plans

Share-Based Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2016
Share Based Compensation [Abstract]
Schedule Of Stock Option Activity	A summary of option activity for the nine months ended September 30, 2016 is presented below: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding at December 31, 2015 8,345,835 $ 4.77 Granted 4,252,739 4.26 Exercised (198,636 ) 3.31 Forfeited (452,604 ) 5.03 Expired (185,780 ) 8.75 Outstanding at September 30, 2016 11,761,554 $ 4.53 7.70 $ 32,843,626 Vested or expected to vest at September 30, 2016 10,599,495 $ 4.55 7.57 $ 29,971,443 Exercisable at September 30, 2016 5,624,490 $ 4.68 6.23 $ 15,941,877
Schedule Of Nonvested Shares	A summary of nonvested stock activity for the nine months ended September 30, 2016 is presented below: Nonvested Shares Weighted Average Grant Fair Value Outstanding at December 31, 2015 1,730,604 $ 8.55 Granted 935,438 2.91 Vested (570,037 ) 8.52 Forfeited (158,982 ) 8.05 Outstanding at September 30, 2016 1,937,023 $ 6.51
Schedule Of Share-Based Compensation Expense	The impact on our results of operations from share-based compensation for the three and nine months ended September 30, 2016 and 2015, was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Research and development $ 818 $ 453 $ 3,689 $ 1,695 General and administrative 1,565 320 5,012 3,523 Total share-based compensation expense $ 2,383 $ 773 $ 8,701 $ 5,218

Business, Liquidity and Basis26

Business, Liquidity and Basis of Presentation (Narrative) (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2016	Jun. 14, 2016	Dec. 31, 2015
Description Of Business [Abstract]
Cash, cash equivalents, and short-term investments	$ 95,400,000	$ 123,300,000	$ 148,200,000	$ 95,400,000
Decrease in cash cash equivalents and short term investments	27,900,000	$ 24,900,000	$ 23,500,000	76,300,000
Accumulated deficit	$ (879,206,048)			$ (879,206,048)		$ (779,187,464)
Common stock, shares authorized	240,000,000			240,000,000	140,000,000	140,000,000

Business, Liquidity and Basis27

Business, Liquidity and Basis of Presentation - Schedule of Cash, Cash Equivalents and Short-Term Investments (Details) - USD ($)	3 Months Ended				9 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Description Of Business [Abstract]
Cash, cash equivalents, and short-term investments	$ 95,400,000	$ 123,300,000	$ 148,200,000		$ 95,400,000
Decrease in cash cash equivalents and short term investments	27,900,000	24,900,000	23,500,000		76,300,000
Cash used in operating activities	23,800,000	18,500,000	21,500,000		(63,844,575)	$ (27,584,347)
Reported net loss	$ 40,773,520	$ 28,300,000	$ 31,800,000	$ 13,122,249	$ 100,871,902	$ 72,274,098

Net Loss Per Share - Anti-dilut

Net Loss Per Share - Anti-dilutive Securities Excluded from Computation of Diluted Weighted Average Shares Outstanding (Details) - shares	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,351,450	4,351,450
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	11,761,554	8,226,791
Nonvested Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,937,023	1,734,821
Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	333,333	333,333

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Cost [Member]
Cash And Cash Equivalents [Line Items]
Cash equivalents and short-term investments	$ 73,225	$ 161,315
Estimated Fair Value [Member]
Cash And Cash Equivalents [Line Items]
Cash equivalents and short-term investments	73,225	161,331
Institutional Money Market Funds [Member] | Cost [Member]
Cash And Cash Equivalents [Line Items]
Cash equivalents and short-term investments	28,284	106,370
Institutional Money Market Funds [Member] | Estimated Fair Value [Member]
Cash And Cash Equivalents [Line Items]
Cash equivalents and short-term investments	28,284	106,370
U.S. Treasury Bills [Member] | Cost [Member]
Cash And Cash Equivalents [Line Items]
Cash equivalents and short-term investments	44,941	54,945
U.S. Treasury Bills [Member] | Estimated Fair Value [Member]
Cash And Cash Equivalents [Line Items]
Cash equivalents and short-term investments	$ 44,941	$ 54,961

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Cash And Cash Equivalents [Line Items]
Cash equivalents	$ 53,300,000	$ 126,400,000
Short-term investments	19,960,567	$ 34,964,730
U.S. Treasury Bills [Member]
Cash And Cash Equivalents [Line Items]
Proceeds from sale of short-term investments	70,000,000
Proceeds from the maturity of cash equivalents	$ 100,000,000

Goodwill and Acquired Intangi31

Goodwill and Acquired Intangible Assets (Schedule of Changes in Goodwill) (Details)	9 Months Ended
	Sep. 30, 2016USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 22,792,778
Foreign currency translation adjustment	372,000
Ending balance	$ 23,165,457

Goodwill and Acquired Intangi32

Goodwill and Acquired Intangible Assets (Acquired Intangible Assets) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 19,923,000	$ 19,747,000
Accumulated amortization	(2,705,219)	(987,394)
Net carrying amount	17,218,224	18,759,662
Indefinite-lived Intangible Assets Acquired	1,942,000	1,896,000
Intellectual Property [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	16,578,000	16,472,000
Accumulated amortization	(1,958,000)	(541,000)
Net carrying amount	$ 14,620,000	$ 15,931,000
Intellectual Property [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization period (years)	7 years	7 years
Intellectual Property [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization period (years)	15 years	15 years
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization period (years)	4 years 6 months	4 years 6 months
Gross carrying amount	$ 832,000	$ 812,000
Accumulated amortization	(486,000)	(339,000)
Net carrying amount	346,000	473,000
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	571,000	567,000
Accumulated amortization	(261,000)	(107,000)
Net carrying amount	$ 310,000	$ 460,000
Other [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization period (years)	2 years	2 years
Other [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization period (years)	6 years	6 years

Goodwill and Acquired Intangi33

Goodwill and Acquired Intangible Assets (Narrative) (Details)	9 Months Ended
	Sep. 30, 2016USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	9 years
Finite-Lived Intangible Assets, Estimated Amortization Expense, 2016	$ 800,000
Finite-Lived Intangible Assets, Estimated Amortization Expense, December 31, 2017	2,200,000
Finite-Lived Intangible Assets, Estimated Amortization Expense, December 31, 2018	2,100,000
Finite-Lived Intangible Assets, Estimated Amortization Expense, December 31, 2019	1,900,000
Finite-Lived Intangible Assets, Estimated Amortization Expense, December 31, 2020	$ 1,900,000

Debt - Schedule of Debt Obligat

Debt - Schedule of Debt Obligations (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Debt instrument, Long-term Portion
Principal Balance, Long-term Portion	$ 114,000	$ 114,000
Non-cash Interest, Long-term Portion	15,438	4,342
Unamortized Debt Issuance Costs, Long-term Portion	(1,378)	(1,481)
Unamortized Debt Discount, Long-term Portion	(1,797)	(2,535)
Balance, Long-term Portion	126,263	114,326
Principal, Balance Total	114,146	114,146
Non-cash Interest Total	15,438	4,342
Unamortized Debt Issuance Costs Total	(1,378)	(1,481)
Unamortized Debt Discount Total	(1,797)	(2,535)
Balance, Long-Term Debt Total	126,409	114,472
2015 Subordinated Notes [Member]
Debt instrument, Long-term Portion
Principal Balance, Long-term Portion	14,000	14,000
Unamortized Debt Discount, Long-term Portion	(1,570)	(2,292)
Balance, Long-term Portion	12,430	11,708
Note Purchase Agreement [Member]
Debt instrument, Long-term Portion
Principal Balance, Long-term Portion	100,000	100,000
Non-cash Interest, Long-term Portion	15,438	4,342
Unamortized Debt Issuance Costs, Long-term Portion	(1,378)	(1,481)
Unamortized Debt Discount, Long-term Portion	(227)	(243)
Balance, Long-term Portion	113,833	102,618
Debentures [Member]
Debt instrument, Current Portion
Principal Balance, Short-term Portion	146	146
Balance, Short-term Portion	$ 146	$ 146

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Carrying value of capital lease included in property, plant and equipment, net	$ 23,508,290	$ 15,310,623
Equipment [Member]
Debt Instrument [Line Items]
Capital lease expiration period	2020-06
Remainder of 2016	$ 72,000
2,017	288,000
2,018	288,000
2,019	288,000
December 31, 2020	144,000
Capital lease obligations	1,000,000
Equipment [Member] | Capital Lease [Member]
Debt Instrument [Line Items]
Carrying value of capital lease included in property, plant and equipment, net	1,000,000
Equipment [Member] | Other Current Liabilities [Member]
Debt Instrument [Line Items]
Capital lease obligations included in other current liabilities	300,000
Equipment [Member] | Other Long-term Liabilities [Member]
Debt Instrument [Line Items]
Capital lease obligations included in other long-term liabilities	$ 665,000

Accrued and Other Current Lia36

Accrued and Other Current Liabilities (Schedule of Accrued Liabilities) (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Accrued Liabilities Current [Abstract]
Payroll	$ 5,218,000	$ 4,600,000
Professional fees	4,431,000	3,343,000
Contract manufacturing costs	7,531,000	3,886,000
Other	4,354,000	2,337,000
Total	$ 21,533,583	$ 14,165,816

Accrued and Other Current Lia37

Accrued and Other Current Liabilities (Other Current Liabilities) (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Other Liabilities Disclosure [Abstract]
Current portion of deferred purchase price	$ 4,895,000	$ 5,906,000
Other	2,396,000	398,000
Total	$ 7,290,750	$ 6,304,281

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent purchase price considerations	$ 16,962,000	$ 5,608,000
Long-term debt including accrued interest	129,600,000	118,500,000
Accrued Interest	15,400,000	4,300,000
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent purchase price considerations	0	0
Debt Instrument, Fair Value Disclosure	$ 125,700,000	$ 115,900,000

Fair Value Measurements Asset a

Fair Value Measurements Asset and Liabilities Measured at Fair Value (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash equivalents, Fair Value Disclosure	$ 24,980,000	$ 19,996,000
Short-term investments, Fair Value Disclosure	19,961,000	34,965,000
Total	44,941,000	54,961,000
Contingent purchase price considerations, Fair Value Disclosure	16,962,000	5,608,000
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash equivalents, Fair Value Disclosure	24,980,000	19,996,000
Short-term investments, Fair Value Disclosure	19,961,000	34,965,000
Total	44,941,000	54,961,000
Contingent purchase price considerations, Fair Value Disclosure	0	0
Significant Other Observable Inputs (Level 2) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash equivalents, Fair Value Disclosure	0	0
Short-term investments, Fair Value Disclosure	0	0
Total	0	0
Contingent purchase price considerations, Fair Value Disclosure	0	0
Significant Unobservable Inputs (Level 3) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash equivalents, Fair Value Disclosure	0	0
Short-term investments, Fair Value Disclosure	0	0
Total	0	0
Contingent purchase price considerations, Fair Value Disclosure	$ 16,962,000	$ 5,608,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Significant Unobservable Inputs (Level 3) [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Balance, beginning of period	$ 5,608
Balance, end of period	16,962
Contingent purchase price [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Change in fair value of considerations during the period	$ 11,354

Share-Based Compensation Plan41

Share-Based Compensation Plans (Narrative) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Weighted average grant-date fair value of options granted	$ 2.38	$ 3.85
Intrinsic value of shares vested	$ 2,400,000
Vesting of nonvested shares, shares	570,037
Shares issued from exercise of options	198,636
Employees and directors [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Unrecognized compensation cost, options	$ 11,400,000
Outside Advisors [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Unrecognized compensation cost, options	$ 308,000
Stock Options [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Unrecognized compensation cost, weighted average period	2 years 4 months 24 days
Restricted Stock [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Unrecognized compensation cost	$ 10,400,000
Performance Based Award [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Unrecognized compensation cost, weighted average period	1 year 7 months 6 days
2009 EIP [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Deferred Compensation Arrangement with Individual, Maximum Contractual Term	10 years
2009 ESPP [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Shares issued under ESPP	121,228
Minimum [Member] | 2009 EIP [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Vesting period, minimum	3 years
Maximum [Member] | 2009 EIP [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Vesting period, minimum	4 years

Share-Based Compensation Plan42

Share-Based Compensation Plans (Schedule Of Stock Option Activity) (Details)	9 Months Ended
	Sep. 30, 2016USD ($)$ / sharesshares
Share Based Compensation [Abstract]
Options Outstanding, Beginning Balance | shares	8,345,835
Options Granted | shares	4,252,739
Options Exercised | shares	(198,636)
Options Forfeited | shares	(452,604)
Options Expired | shares	(185,780)
Options Outstanding, Ending Balance | shares	11,761,554
Options Vested or expected to vest | shares	10,599,495
Options Exercisable | shares	5,624,490
Options Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 4.77
Options Granted, Weighted Average Exercise Price | $ / shares	4.26
Options Exercised, Weighted Average Exercise Price | $ / shares	3.31
Options Forfeited, Weighted Average Exercise Price | $ / shares	5.03
Options Expired, Weighted Average Exercise Price | $ / shares	8.75
Options Outstanding, Weighted Average Exercise Price, Ending Balance | $ / shares	4.53
Options Vested or expected to vest, Weighted Average Exercise Price | $ / shares	4.55
Options Exercisable, Weighted Average Exercise Price | $ / shares	$ 4.68
Options Outstanding, Weighted Average Remaining Contractual Term	7 years 8 months 12 days
Options Vested or expected to vest, Weighted Average Remaining Contractual Term	7 years 6 months 26 days
Options Exercisable, Weighted Average Remaining Contractual Term	6 years 2 months 23 days
Options Outstanding, Aggregate Intrinsic Value | $	$ 32,843,626
Options Vested or expected to vest, Aggregate Intrinsic Value | $	29,971,443
Options Exercisable, Aggregate Intrinsic Value | $	$ 15,941,877

Share-Based Compensation Plan43

Share-Based Compensation Plans (Summary Of Nonvested Stock Activity) (Details)	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Share Based Compensation [Abstract]
Nonvested Shares Outstanding, Beginning Balance | shares	1,730,604
Nonvested Shares Granted | shares	935,438
Nonvested Shares Vested | shares	(570,037)
Nonvested Shares Forfeited | shares	(158,982)
Nonvested Shares Outstanding, Ending Balance | shares	1,937,023
Nonvested Shares Outstanding, Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 8.55
Nonvested Shares Granted, Weighted Average Grant Date Fair Value | $ / shares	2.91
Nonvested Shares Vested, Weighted Average Grant Date Fair Value | $ / shares	8.52
Nonvested Shares Forfeited in Period, Weighted Average Grant Date Fair Value | $ / shares	8.05
Nonvested Shares Outstanding, Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 6.51

Share-Based Compensation Plan44

Share-Based Compensation Plans (Schedule Of Share-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 2,383	$ 773	$ 8,701	$ 5,218
Research and Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	818	453	3,689	1,695
General and Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 1,565	$ 320	$ 5,012	$ 3,523

Benefit Plans (Narrative) (Deta

Benefit Plans (Narrative) (Details) - Foreign Postretirement Benefit Plan, Defined Benefit [Member] - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, contributions by employer	$ 41,000	$ 26,000	$ 119,000	$ 80,000
Defined benefit plans, estimated future employer contributions for the remainder of fiscal year			$ 28,000