Agenus (AGEN) 10-Q 9 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 05, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2019
Entity Registrant Name	AGENUS INC
Entity Central Index Key	0001098972
Entity Current Reporting Status	Yes
Trading Symbol	AGEN
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		137,312,825
Entity File Number	000-29089
Entity Tax Identification Number	061562417
Entity Address, Address Line One	3 Forbes Road
Entity Address, City or Town	Lexington
Entity Address, State or Province	Massachusetts
Entity Address, Postal Zip Code	02421
City Area Code	781
Local Phone Number	674-4400

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 121,717	$ 53,054
Inventories	55	55
Accounts receivable	2,205	938
Prepaid expenses	13,552	19,265
Other current assets	1,409	1,496
Total current assets	138,938	74,808
Property, plant and equipment, net of accumulated amortization and depreciation of $40,449 and $38,068 at June 30, 2019 and December 31, 2018, respectively	25,505	25,116
Operating lease right-of-use assets	6,600
Goodwill	23,034	22,925
Acquired intangible assets, net of accumulated amortization of $8,446 and $7,472 at June 30, 2019 and December 31, 2018, respectively	11,416	12,338
Other long-term assets	1,214	1,214
Total assets	206,707	136,401
LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT
Current portion, long-term debt	13,679	146
Current portion, liability related to sale of future royalties and milestones	34,647	27,443
Current portion, deferred revenue	29,540	1,814
Current portion, operating lease liabilities	1,244
Accounts payable	19,052	13,624
Accrued liabilities	23,227	24,551
Other current liabilities	350	484
Total current liabilities	121,739	68,062
Long-term debt, net of current portion		13,212
Liability related to sale of future royalties and milestones, net of current portion	177,031	182,817
Deferred revenue, net of current portion	26,244	1,165
Operating lease liabilities, net of current portion	7,286
Contingent purchase price considerations	5,999	3,038
Other long-term liabilities	3,101	2,773
Commitments and contingencies
STOCKHOLDERS’ DEFICIT
Common stock, par value $0.01 per share; 400,000,000 and 240,000,000 shares authorized at June 30, 2019 and December 31, 2018, respectively; 137,259,209 and 119,996,331 shares issued at June 30, 2019 and December 31, 2018, respectively	1,373	1,200
Additional paid-in capital	1,051,942	1,005,183
Accumulated other comprehensive loss	(1,079)	(1,539)
Accumulated deficit	(1,209,464)	(1,177,311)
Total stockholders’ deficit attributable to Agenus Inc.	(157,228)	(172,467)
Non-controlling interest	(4,382)	(2,078)
Total stockholders’ deficit	(161,610)	(174,545)
Total liabilities, convertible preferred stock and stockholders’ deficit	206,707	136,401
Series C-1 Convertible Preferred Stock [Member]
CONVERTIBLE PREFERRED STOCK
Series C-1 convertible preferred stock; 12,459 shares and 18,459 shares designated, issued, and outstanding at June 30, 2019 and December 31, 2018, respectively	26,917	39,879
Series A-1 convertible preferred stock [Member]
STOCKHOLDERS’ DEFICIT
Series A-1 convertible preferred stock; 31,620 shares designated, issued, and outstanding at June 30, 2019 and December 31, 2018; liquidation value of $32,936 at June 30, 2019	0	0
Total stockholders’ deficit	$ 0	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Property plant and equipment, accumulated amortization and depreciation	$ 40,449	$ 38,068
Acquired intangible assets, accumulated amortization	$ 8,446	$ 7,472
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	400,000,000	240,000,000
Common stock, shares issued	137,259,209	119,996,331
Series C-1 Convertible Preferred Stock [Member]
Series C-1 convertible preferred stock, shares designated	12,459	18,459
Series C-1 convertible preferred stock, shares issued	12,459	18,459
Series C-1 convertible preferred stock, shares outstanding	12,459	18,459
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	$ 32,936

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue:
Total revenues	$ 15,715	$ 15,895	$ 95,608	$ 17,531
Operating expenses:
Research and development	(45,243)	(29,274)	(85,374)	(58,715)
General and administrative	(11,405)	(9,485)	(22,211)	(18,413)
Contingent purchase price consideration fair value adjustment	(213)	6,292	(2,961)	1,276
Operating loss	(41,146)	(16,572)	(14,938)	(58,321)
Other expense:
Loss on early extinguishment of debt				(10,767)
Non-operating expense	(924)	(2,408)	(554)	(1,373)
Interest expense, net	(9,797)	(6,224)	(18,940)	(9,005)
Net loss	(51,867)	(25,204)	(34,432)	(79,466)
Dividends on Series A-1 convertible preferred stock	(52)	(52)	(104)	(103)
Less: net loss attributable to non-controlling interest	(1,233)	(533)	(2,304)	(653)
Net loss attributable to Agenus Inc. common stockholders	$ (50,686)	$ (24,723)	$ (32,232)	$ (78,916)
Per common share data:
Basic and diluted net loss attributable to Agenus Inc. common stockholders	$ (0.38)	$ (0.24)	$ (0.24)	$ (0.76)
Weighted average number of Agenus Inc. common shares outstanding:
Basic and diluted	134,636	105,113	132,182	103,852
Other comprehensive loss:
Foreign currency translation gain	$ 1,142	$ 1,129	$ 460	$ 592
Other comprehensive income	1,142	1,129	460	592
Comprehensive loss	(49,544)	(23,594)	(31,772)	(78,324)
Research and Development [Member]
Revenue:
Total revenues	4,399	10,473	75,271	12,109
Other Revenue [Member]
Revenue:
Total revenues	2,053		2,468
Non-Cash Royalty Revenue Related to the Sale of Future Royalties [Member]
Revenue:
Total revenues	$ 9,263	$ 5,422	$ 17,869	$ 5,422

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders' Deficit (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Non-controlling Interest [Member]	Accumulated Deficit [Member]	Series C-1 Convertible Preferred Stock [Member]	Series A-1 convertible preferred stock [Member]
Stockholders' Equity, Beginning Balance at Dec. 31, 2017	$ (75,816)	$ 1,017	$ 951,812	$ (2,169)		$ (1,026,476)		$ 0
Balance, shares at Dec. 31, 2017		101,706,000						32,000
Net income (loss)	(54,262)				$ (121)	(54,141)
Other comprehensive income (loss)	(537)			(537)
Adoption of ASC | ASC 606 [Member]	8,856					8,856
AgenTus share distribution	274				274
Share-based compensation	1,932		1,932
Vesting of nonvested shares, value		$ 1	(1)
Vesting of nonvested shares, shares		53,000
Shares sold at the market, value	5,258	$ 12	5,246
Shares sold at the market, shares		1,202,000
Exercise of stock options and employee share purchases, value	1,060	$ 3	1,057
Exercise of stock options and employee share purchases, shares		320,000
Stockholders' Equity, Ending Balance at Mar. 31, 2018	(113,235)	$ 1,033	960,046	(2,706)	153	(1,071,761)		$ 0
Balance, shares at Mar. 31, 2018		103,281,000						32,000
Stockholders' Equity, Beginning Balance at Dec. 31, 2017	(75,816)	$ 1,017	951,812	(2,169)		(1,026,476)		$ 0
Balance, shares at Dec. 31, 2017		101,706,000						32,000
Net income (loss)	(79,466)
Other comprehensive income (loss)	592
Stockholders' Equity, Ending Balance at Jun. 30, 2018	(113,089)	$ 1,112	984,188	(1,577)	(380)	(1,096,432)		$ 0
Balance, shares at Jun. 30, 2018		111,198,000						32,000
Stockholders' Equity, Beginning Balance at Mar. 31, 2018	(113,235)	$ 1,033	960,046	(2,706)	153	(1,071,761)		$ 0
Balance, shares at Mar. 31, 2018		103,281,000						32,000
Net income (loss)	(25,204)				(533)	(24,671)
Other comprehensive income (loss)	1,129			1,129
Share-based compensation	1,584		1,584
Shares sold at the market, value	22,637	$ 79	22,558
Shares sold at the market, shares		7,917,000
Stockholders' Equity, Ending Balance at Jun. 30, 2018	(113,089)	$ 1,112	984,188	(1,577)	(380)	(1,096,432)		$ 0
Balance, shares at Jun. 30, 2018		111,198,000						32,000
Stockholders' Equity, Beginning Balance at Dec. 31, 2018	(174,545)	$ 1,200	1,005,183	(1,539)	(2,078)	(1,177,311)		$ 0
Temporary Equity, shares at Dec. 31, 2018							18,459
Temporary Equity, Beginning Balance at Dec. 31, 2018							$ 39,879
Balance, shares at Dec. 31, 2018		119,996,000						32,000
Net income (loss)	17,435				(1,071)	18,506
Other comprehensive income (loss)	(682)			(682)
Adoption of ASC | ASC 842 [Member]	(25)					(25)
Share-based compensation	1,843		1,843
Shares sold under Stock Purchase Agreement, values	30,000	$ 111	29,889
Shares sold under Stock Purchase Agreement, shares		11,111,000
Conversion of Series C-1 convertible preferred stock	6,481	$ 30	6,451				$ (6,481)
Conversion of Series C-1 convertible preferred stock, shares		3,000,000					(3,000)
Payment of consultant in shares	37	$ 0	37
Payment of consultant in shares, shares		14,000
Exercise of stock options and employee share purchases, value	173	$ 1	172
Exercise of stock options and employee share purchases, shares		85,000
Stockholders' Equity, Ending Balance at Mar. 31, 2019	(119,283)	$ 1,342	1,043,575	(2,221)	(3,149)	(1,158,830)		$ 0
Temporary Equity, shares at Mar. 31, 2019							15,000
Temporary Equity, Ending Balance at Mar. 31, 2019							$ 33,398
Balance, shares at Mar. 31, 2019		134,206,000						32,000
Stockholders' Equity, Beginning Balance at Dec. 31, 2018	(174,545)	$ 1,200	1,005,183	(1,539)	(2,078)	(1,177,311)		$ 0
Temporary Equity, shares at Dec. 31, 2018							18,459
Temporary Equity, Beginning Balance at Dec. 31, 2018							$ 39,879
Balance, shares at Dec. 31, 2018		119,996,000						32,000
Net income (loss)	(34,432)
Other comprehensive income (loss)	460
Stockholders' Equity, Ending Balance at Jun. 30, 2019	(161,610)	$ 1,373	1,051,942	(1,079)	(4,382)	(1,209,464)		$ 0
Temporary Equity, shares at Jun. 30, 2019							12,459
Temporary Equity, Ending Balance at Jun. 30, 2019							$ 26,917
Balance, shares at Jun. 30, 2019		137,259,000						32,000
Stockholders' Equity, Beginning Balance at Mar. 31, 2019	(119,283)	$ 1,342	1,043,575	(2,221)	(3,149)	(1,158,830)		$ 0
Temporary Equity, shares at Mar. 31, 2019							15,000
Temporary Equity, Beginning Balance at Mar. 31, 2019							$ 33,398
Balance, shares at Mar. 31, 2019		134,206,000						32,000
Net income (loss)	(51,867)				(1,233)	(50,634)
Other comprehensive income (loss)	1,142			1,142
Share-based compensation	1,917		1,917
Conversion of Series C-1 convertible preferred stock	6,481	$ 30	6,451				$ (6,481)
Conversion of Series C-1 convertible preferred stock, shares		3,000,000					(3,000)
Vesting of nonvested shares, value		$ 1	(1)
Vesting of nonvested shares, shares		53,000
Stockholders' Equity, Ending Balance at Jun. 30, 2019	$ (161,610)	$ 1,373	$ 1,051,942	$ (1,079)	$ (4,382)	$ (1,209,464)		$ 0
Temporary Equity, shares at Jun. 30, 2019							12,459
Temporary Equity, Ending Balance at Jun. 30, 2019							$ 26,917
Balance, shares at Jun. 30, 2019		137,259,000						32,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income (loss)	$ (34,432)	$ (79,466)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	3,323	3,109
Share-based compensation	3,760	3,790
Non-cash royalty revenue	(17,869)	(5,422)
Non-cash interest expense	19,609	8,725
Loss on disposal of assets		78
Change in fair value of contingent obligations	2,961	(1,276)
Loss on extinguishment of debt		10,767
Changes in operating assets and liabilities:
Accounts receivable	(1,267)	(9,785)
Inventories		24
Prepaid expenses	5,704	(1,852)
Accounts payable	5,643	1,669
Deferred revenue	52,803	(802)
Accrued liabilities and other current liabilities	(235)	(873)
Other operating assets and liabilities	883	533
Net cash provided by (used in) operating activities	40,883	(70,781)
Cash flows from investing activities:
Proceeds from sale of plant and equipment		5
Purchases of plant and equipment	(2,762)	(2,176)
Net cash used in investing activities	(2,762)	(2,171)
Cash flows from financing activities:
Net proceeds from sale of equity	30,000	27,895
Proceeds from employee stock purchases and option exercises	172	1,061
Proceeds from sale of future royalties		189,878
Transaction costs from sale of future royalties and milestones		(494)
Repayments of debt		(161,847)
Payment of finance lease obligation	(151)	(129)
Net cash provided by financing activities	30,021	56,364
Effect of exchange rate changes on cash	521	(436)
Net increase (decrease) in cash and cash equivalents	68,663	(17,024)
Cash and cash equivalents, beginning of period	53,054	60,187
Cash and cash equivalents, end of period	121,717	43,163
Supplemental cash flow information:
Cash paid for interest	620	555
Supplemental disclosures - non-cash activities:
Purchases of plant and equipment in accounts payable and accrued liabilities	105	$ 804
Payment to Consultant [Member]
Supplemental disclosures - non-cash activities:
Issuance of common stock	$ 38

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical)	Jun. 30, 2019$ / shares
Supplemental disclosures - non-cash activities:
Common stock, par value	$ 0.01
Payment to Consultant [Member]
Supplemental disclosures - non-cash activities:
Common stock, par value	$ 0.01

Business, Liquidity and Basis o

Business, Liquidity and Basis of Presentation	6 Months Ended
	Jun. 30, 2019
Description Of Business [Abstract]
Business, Liquidity And Basis of Presentation	Agenus Inc. (including its subsidiaries, collectively referred to as “Agenus,” the “Company,” “we,” “us,” and “our”) is a clinical-stage immuno-oncology (“I-O”) company with a pipeline of immune modulating antibodies, vaccines, adjuvants and adoptive cell therapies dedicated to becoming a leader in the discovery and development of innovative combination therapies and committed to bringing effective medicines to patients with cancer. Our business is designed to drive success in I-O through speed, innovation, and effective combination therapies. In addition to a diverse pipeline, we have assembled fully integrated capabilities including novel target discovery, antibody generation, cell line development, and good manufacturing practice (“GMP”) manufacturing. We believe that these fully integrated capabilities enable us to produce novel candidates on timelines that are shorter than the industry standard. Leveraging our science and capabilities, we have forged important partnerships to advance our innovation. We are developing a comprehensive I-O portfolio driven by the following platforms and programs, which we intend to utilize individually and in combination: • our multiple antibody discovery platforms, including our proprietary display technologies, designed to drive the discovery of future CPM antibody candidates; • our antibody candidate programs, including our CPM programs; • our vaccine programs, including Prophage™, AutoSynVax™ and PhosPhoSynVax • our saponin-based vaccine adjuvants, principally our QS-21 Stimulon™ adjuvant, or QS-21 Stimulon; and • our cell therapy subsidiary, AgenTus Therapeutics, Inc., which is designed to drive the discovery of future adoptive cell therapy, or “living drugs” (CAR-T and TCR) programs. 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 and cash equivalents at June 30, 2019 were $121.7 million, an increase of $68.7 million from December 31, 2018. The following table outlines our quarter end cash and cash equivalents balances and the changes therein (in millions). Quarter Ended March 31, 2019 June 30, 2019 Cash and cash equivalents $ 158.3 $ 121.7 Increase (decrease) in cash and cash equivalents $ 105.3 $ (36.6 ) Cash provided by operating activities $ 76.6 $ 40.9 Reported net income (loss) $ 17.4 $ (51.9 ) Since our inception, we have successfully financed our operations through the sale of equity, notes, corporate partnerships, advance royalty sales and interest income. Based on our current plans we believe that our cash resources of $121.7 million as of June 30, 2019 will be sufficient to satisfy our liquidity requirements into the second quarter of 2020. Management continues to address the Company’s liquidity position. We also continue to monitor the likelihood of success of our key initiatives and can discontinue funding of such activities if they do not prove to be successful, restrict capital expenditures and/or reduce the scale of our operations if necessary. Our future liquidity needs will be determined primarily by the success of our operations with respect to the progression of our product candidates and key development and regulatory events in the future. Potential sources of additional funding include: (1) pursuing collaboration, out-licensing and/or partnering opportunities for our portfolio programs and product candidates with one or more third parties, (2) renegotiating third party agreements, (3) selling assets, (4) securing additional debt financing and/or (5) selling equity securities. Based on our recurring losses from operations and expectation of continuing losses, we need to raise additional capital to finance our operations through and beyond the second quarter of 2020. We are currently pursuing transactions designed for significant capital infusion. Until we are successful in our efforts for capital infusion through these transactions or other financing options, substantial doubt exists about our ability to continue as a going concern for a period of one year after the date of filing of this Quarterly Report on Form 10-Q. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Accordingly, the financial statements have been prepared on a basis that assumes we will continue as a going concern and which contemplates the realization of assets and satisfaction of liabilities and commitments in the ordinary course of business. 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 six months ended June 30, 2019, are not necessarily indicative of the results that may be expected for the year ending December 31, 2019. 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, 2018 filed with the Securities and Exchange Commission (the “SEC”) on March 18, 2019. 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. 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note B - Summary of Significant Accounting Policies Except as detailed below, there have been no material changes to our significant accounting policies during the six months ended June 30, 2019, as compared to the significant accounting policies disclosed in Note 2 of the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, Leases (Topic 842) (“ASC 842”) which supersedes Topic 840, Leases (“ASC 840”). We adopted ASC 842 on January 1, 2019 using the alternative transition method and recorded a cumulative effect adjustment to beginning retained earnings without restating prior periods. Accordingly, all financial information and disclosures for periods before January 1, 2019 continue to be presented under the requirements of ASC 840. We elected the package of practical expedients, which allowed us to carry forward our historical lease classification, our assessment of whether a contract is or contains a lease and our initial direct costs for any leases that existed prior to adoption of the new standard. At the inception of an agreement, we determine whether the contract contains a lease. If a lease is identified in such arrangement, we recognize a right-of-use asset and liability on our consolidated balance sheet and determine whether the lease should be classified as a finance or operating lease. We have elected not to recognize assets or liabilities for leases with lease terms of 12 months or less. A lease qualifies as a finance lease if any of the following criteria are met at the inception of the lease: (i) there is a transfer of ownership of the leased asset by the end of the lease term, (ii) we hold an option to purchase the leased asset that we are reasonably certain to exercise, (iii) the lease term is for a major part of the remaining economic life of the leased asset, (iv) the present value of the sum of lease payments equals or exceeds substantially all of the fair value of the leased asset, or (v) the nature of the leased asset is specialized to the point that it is expected to provide the lessor no alternative use at the end of the lease term. All other leases are recorded as operating leases. Finance and operating lease right-of-use assets and liabilities are recognized at the lease commencement date. Lease liabilities are recognized as the present value of the lease payments over the lease term using the discount rate implicit in the lease. If the implicit rate is not readily determinable, as is the case with all our current leases, we utilize our incremental borrowing rate at the lease commencement date. Right-of-use assets are recognized based on the amount of the lease liability, adjusted for any advance lease payments paid, initial direct costs incurred, or lease incentives received prior to commencement. Right-of-use assets are subject to evaluation for impairment or disposal on a basis consistent with other long-lived assets. Operating lease payments are expensed using the straight-line method as an operating expense over the lease term, unless the right-of-use asset reflects impairment. We will then recognize the amortization of the right-of-use asset on a straight-line basis over the remaining lease term with rent expense still included in operating expense in our condensed consolidated statement of operations. Finance lease assets are amortized to depreciation expense using the straight-line method over the shorter of the useful life of the related asset or the lease term, unless the lease includes a provision that either (i) results in the transfer of ownership of the underlying asset at the end of the lease term or (ii) includes a purchase option whose exercise is reasonably certain. In either of these instances, the right-of-use asset is amortized over the useful life of the underlying asset. Finance lease payments are bifurcated into (i) a portion that is recorded as imputed interest expense and (ii) a portion that reduces the finance lease liability. We do not separate lease and non-lease components for any of our current asset classes when determining which lease payments to include in the calculation of its lease assets and liabilities. Variable lease payments are expensed in the period incurred. If a lease includes an option to extend or terminate the lease, we reflect the option in the lease term if it is reasonably certain the option will be exercised. Our right of use assets and lease liabilities generally exclude periods covered by renewal options and include periods covered by early termination options (based on our conclusion that it is not reasonably certain that we will exercise such options). We account for the sublease of space in our Lexington, Massachusetts facility from the perspective of a lessor. Our sublease is classified as an operating lease. We record sublease income as a reduction of operating expense. Operating leases are recorded in “Operating lease right-of-use assets”, “Current portion, operating lease liabilities” and “Operating lease liabilities, net of current portion”, while finance leases are recorded in “Property, plant and equipment, net”, “Other current liabilities” and “Other long-term liabilities” on our condensed consolidated balance sheet. Impact of Adopting ASC 842 on the Condensed Consolidated Financial Statements We recorded the following adjustments to our condensed consolidated balance sheet on the date of adoption (in thousands): As Reported December 31, 2018 ASC 842 Adjustment Adjusted January 1, 2019 Condensed Consolidated Balance Sheet Data: Operating lease right-of-use assets $ — $ 5,687 $ 5,687 Current portion, operating lease liabilities — 1,510 1,510 Other current liabilities 484 (95 ) 389 Operating lease liabilities, net of current portion — 6,216 6,216 Other long-term liabilities 2,773 (1,921 ) 852 Accumulated deficit $ (1,177,311 ) $ (25 ) $ (1,177,336 ) The adoption did not have an impact on our condensed consolidated statement of operations or our condensed consolidated statement of cash flows. See Note L for additional information regarding our leases.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
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, non-vested shares, convertible preferred stock, and convertible notes. Because we reported a net loss attributable to common stockholders for all periods presented (listed on an as-if-converted-to-Common-Stock basis) Three and Six Months Ended June 30, 2019 2018 Warrants 1,400 2,900 Stock options 23,844 17,061 Non-vested shares 2,218 2,011 Series A-1 convertible preferred stock 333 333 Series C-1 convertible preferred stock 12,459 -

Investments

Investments	6 Months Ended
	Jun. 30, 2019
Cash And Cash Equivalents [Abstract]
Investments	Cash equivalents consisted of the following as of June 30, 2019 and December 31, 2018 (in thousands): June 30, 2019 December 31, 2018 Cost Estimated Fair Value Cost Estimated Fair Value Institutional money market funds $ 108,778 $ 108,778 $ 29,948 $ 29,948 U.S. Treasury Bills 4,973 4,973 — — Total $ 113,751 $ 113,751 $ 29,948 $ 29,948 As a result of the short-term nature of our investments, there were minimal unrealized holding gains or losses for the six months ended June 30, 2019 and 2018.

Goodwill and Acquired Intangibl

Goodwill and Acquired Intangible Assets	6 Months Ended
	Jun. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Acquired Intangible Assets	Note E - Goodwill and Acquired Intangible Assets The following table sets forth the changes in the carrying amount of goodwill for the six months ended June 30, 2019 (in thousands): Balance, December 31, 2018 $ 22,925 Foreign currency translation adjustment 109 Balance, June 30, 2019 $ 23,034 Acquired intangible assets consisted of the following as of June 30, 2019 and December 31, 2018 (in thousands): As of June 30, 2019 Amortization period (years) Gross carrying amount Accumulated amortization Net carrying amount Intellectual property 7-15 years $ 16,541 $ (7,092 ) $ 9,449 Trademarks 4.5 years 825 (825 ) - Other 2-6 years 570 (529 ) 41 In-process research and development Indefinite 1,926 — 1,926 Total $ 19,862 $ (8,446 ) $ 11,416 As of December 31, 2018 Amortization period (years) Gross carrying amount Accumulated amortization Net carrying amount Intellectual property 7-15 years $ 16,509 $ (6,147 ) $ 10,362 Trademarks 4.5 years 820 (820 ) - Other 2-6 years 569 (505 ) 64 In-process research and development Indefinite 1,912 — 1,912 Total $ 19,810 $ (7,472 ) $ 12,338 The weighted average amortization period of our finite-lived intangible assets is 9 years. Amortization expense related to acquired intangibles is estimated at $1.0 million for the remainder of 2019, $1.9 million for each of the years ending December 31, 2020, 2021 and 2022 and $1.4 million for the year ending December 31, 2023.

Debt

Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt	Note F - Debt Debt obligations consisted of the following as of June 30, 2019 and December 31, 2018 (in thousands): Debt instrument Principal at June 30, 2019 Unamortized Debt Discount Balance at June 30, 2019 Current Portion: Debentures $ 146 $ — $ 146 2015 Subordinated Notes 14,000 (467 ) 13,533 Total $ 14,146 $ (467 ) $ 13,679 Debt instrument Principal at December 31, 2018 Unamortized Debt Discount Balance at December 31, 2018 Current Portion: Debentures $ 146 $ — $ 146 Long-term Portion: 2015 Subordinated Notes 14,000 (788 ) 13,212 Total $ 14,146 $ (788 ) $ 13,358

Liability Related to the Sale o

Liability Related to the Sale of Future Royalties and Milestones	6 Months Ended
	Jun. 30, 2019
Liability Related To Sale Of Future Royalties And Milestones [Abstract]
Liability Related to the Sale of Future Royalties and Milestones	Note G – Liability Related to the Sale of Future Royalties and Milestones The following table shows the activity within the liability account in the six months ended June 30, 2019 (in thousands): Period from December 31, 2018 to June 30, 2019 Liability related to sale of future royalties and milestones - beginning balance $ 210,795 Non-cash royalty revenue (17,869 ) Non-cash interest expense recognized 19,257 Liability related to sale of future royalties and milestones - ending balance 212,183 Less: unamortized transaction costs (505 ) Liability related to sale of future royalties and milestones, net $ 211,678 Healthcare Royalty Partners In January 2018, we, through our wholly-owned subsidiary Antigenics, LLC (“Antigenics”), entered into a Royalty Purchase Agreement (the “HCR Royalty Purchase Agreement”) with Healthcare Royalty Partners III, L.P. and certain of its subsidiaries (collectively, “HCR”). Pursuant to the terms of the HCR Royalty Purchase Agreement, we sold to HCR 100% of Antigenics’ worldwide rights to receive royalties from GlaxoSmithKline (“GSK”) on sales of GSK’s vaccines containing our QS-21 Stimulon adjuvant. At closing, we received gross proceeds of $190.0 million from HCR. Although we sold all of our rights to receive royalties on sales of GSK’s vaccines containing QS-21, as a result of our obligation to HCR, we are required to account for these royalties as revenue when earned, and we recorded the $190.0 million in proceeds from this transaction as a liability on our condensed consolidated balance sheet that will be amortized using the interest method over the estimated life of the HCR Royalty Purchase Agreement. The liability is classified between the current and non-current portion of liability related to sale of future royalties and milestones in the condensed consolidated balance sheets based on the estimated recognition of the royalty payments to be received by HCR in the next 12 months from the financial statement reporting date. During the six months ended June 30, 2019, we recognized $17.9 million of non-cash royalty revenue, and we recorded $19.3 million of related non-cash interest expense related to the HCR Royalty Purchase Agreement. As royalties are remitted to HCR from GSK, the balance of the recorded liability will be effectively repaid over the life of the HCR Royalty Purchase Agreement. To determine the amortization of the recorded liability, we are required to estimate the total amount of future royalty payments to be received by HCR. The sum of these amounts less the $190.0 million proceeds we received will be recorded as interest expense over the life of the HCR Royalty Purchase Agreement. Periodically, we assess the estimated royalty payments to be paid to HCR from GSK, and to the extent the amount or timing of the payments is materially different from our original estimates, we will prospectively adjust the amortization of the liability. During the six months ended June 30, 2019, our estimate of the effective annual interest rate over the life of the agreement increased to 20.2%, which results in a prospective interest rate of 18.5%.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jun. 30, 2019
Other Liabilities Disclosure [Abstract]
Accrued Liabilities	Accrued liabilities consisted of the following as of June 30, 2019 and December 31, 2018 (in thousands): June 30, 2019 December 31, 2018 Payroll $ 6,317 $ 8,770 Professional fees 3,652 3,528 Contract manufacturing costs 6,379 5,947 Research services 5,774 5,348 Other 1,105 958 Total $ 23,227 $ 24,551

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2019
Fair Value Measurements [Abstract]
Fair Value Measurements	We measure our contingent purchase price considerations at fair value. The fair values of our contingent purchase price considerations, $6.0 million, are based on significant inputs not observable in the market, which require them 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. Liabilities measured at fair value are summarized below (in thousands): Description June 30, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Contingent purchase price considerations $ 5,999 $ — $ — $ 5,999 Total $ 5,999 $ — $ — $ 5,999 Description December 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Contingent purchase price consideration $ 3,038 $ — $ — $ 3,038 Total $ 3,038 $ — $ — $ 3,038 The following table presents our liabilities measured at fair value using significant unobservable inputs (Level 3), as of June 30, 2019 (in thousands): Balance, December 31, 2018 $ 3,038 Change in fair value of contingent purchase price considerations during the period 2,961 Balance, June 30, 2019 $ 5,999 The fair value of our outstanding debt balance at both June 30, 2019 and December 31, 2018 was $14.2 million, 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 both June 30, 2019 and December 31, 2018 was $14.1 million.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2019
Collaboration [Abstract]
Revenue from Contracts with Customers	Note J - Revenue from Contracts with Customers Gilead Collaboration Agreement On December 20, 2018, we entered into a series of agreements with Gilead Sciences, Inc. (“Gilead”) focused on the development and commercialization of up to five novel immuno-oncology therapies. Pursuant to the terms of the license agreement, the option and license agreements and the stock purchase agreement we entered into with Gilead (each defined below and, collectively, the “Gilead Collaboration Agreements”), at the closing of the transaction on January 23, 2019 (the “Effective Date”), we received an upfront cash payment from Gilead of $120.0 million and Gilead made a $30.0 million equity investment in Agenus. We are also eligible to receive up to $1.7 billion in aggregate potential milestones. License Agreement Pursuant to the terms of a license agreement between the parties (the “License Agreement”), we granted Gilead an exclusive, worldwide license under certain of our intellectual property rights to develop, manufacture and commercialize our preclinical bispecific antibody, AGEN1423 (now GS-1423), in all fields of use. Pursuant to the License Agreement, Gilead is responsible for all of the development, manufacturing and commercialization costs for any products that Gilead may develop under the License Agreement. In addition, Gilead also received the right of first negotiation for two of our undisclosed antibody programs. The License Agreement will continue until all of Gilead’s applicable payment obligations under the License Agreement have been performed or have expired, or the agreement is earlier terminated. Under the terms of the License Agreement, each party has the right to terminate the agreement for material breach by, or insolvency of, the other party. Gilead may also terminate the License Agreement in its entirety, or on a product-by-product or country-by-country basis, for convenience upon ninety (90) days’ notice. Pursuant to the terms of the License Agreement, we are eligible to receive potential development and commercial milestones of up to $552.5 million in the aggregate, as well as tiered royalty payments on aggregate net sales ranging from the high single digit to mid-teen percent, subject to certain reductions under certain circumstances as described in the License Agreement. We filed an investigational new drug (“IND”) application for AGEN1423 (now GS-1423) in February 2019, and the IND was accepted by the FDA in March 2019. Option and License Agreements Pursuant to the terms of two separate option and license agreements between the parties (each, an “Option and License Agreement” and together, the “Option and License Agreements”), we granted Gilead exclusive options to license exclusively (“License Option”) our bispecific antibody, AGEN1223, and our monospecific antibody, AGEN2373 (together, the “Option Programs”), during the respective Option Periods (defined below). Pursuant to the terms of the Option and License Agreements, we agreed to grant Gilead an exclusive, worldwide license under our intellectual property rights to develop, manufacture and commercialize AGEN1223 or AGEN2373, as applicable, in all fields of use upon Gilead’s exercise of the applicable License Option. Gilead is entitled to exercise its License Option for either or both Option Programs at any time up until ninety (90) days following Gilead’s receipt of a data package with respect to the first complete Phase 1b clinical trial for each Option Program (the “Option Period”). During the Option Period, we are responsible for the costs and expenses related to the development of the Option Programs. After Gilead’s exercise of a License Option, if at all, Gilead would be responsible for all development, manufacturing and commercialization activities relating to the relevant Option Program at Gilead’s cost and expense. During the Option Period, we are eligible to receive milestones of up to $30.0 million in the aggregate. If Gilead exercises a License Option, it would be required to pay an upfront license exercise fee of $50.0 million for each License Option that is exercised. Following any exercise of a License Option, we would be eligible to receive additional development and commercial milestones of up to $520.0 million in the aggregate for each such Option Program, as well as tiered royalty payments on aggregate net sales. For either, but not both, of the Option Programs, we will have the right to opt-in to share Gilead’s development and commercialization costs in the United States for such Option Program in exchange for a profit (loss) share on a 50:50 basis and revised milestone payments. If we opt-in under one Option and License Agreement, our right to opt-in under the other Option and License Agreement automatically terminates. Unless earlier terminated, each Option and License Agreement will continue until the earlier of (i) the expiration of the Option Period, without Gilead’s exercise of the License Option; and (ii) the date all of Gilead’s applicable payment obligations under the Option and License Agreement have been performed or have expired. Under the terms of each Option and License Agreement, we and Gilead each have the right to terminate the agreement for material breach by, or insolvency of, the other party. Gilead may also terminate an Option License Agreement in its entirety, or on a product-by-product or country-by-country basis for convenience upon ninety (90) days’ notice. Stock Purchase Agreement Pursuant to the terms of a stock purchase agreement between the parties (the “Stock Purchase Agreement”), Gilead purchased 11,111,111 shares of Agenus common stock (the “Shares”) for an aggregate purchase price of $30.0 million, or $2.70 per share. Gilead owned approximately 8.5% of the outstanding shares of Agenus common stock after such purchase. Under the Stock Purchase Agreement, Gilead has agreed (i) not to dispose of any of the Shares for a period of 12 months, (ii) to certain standstill provisions that generally preclude it from acquiring more than 15% of Agenus’ outstanding voting stock after taking into account the purchase of the Shares and (iii) to vote the Shares in accordance with the recommendations of the Agenus board of directors in connection with certain equity incentive plan or compensation matters for a period of 12 months. We have agreed to register the Shares for resale under the Securities Act of 1933. Collaboration Revenue We identified the following performance obligations under the Gilead Collaboration Agreements: (1) the license that we granted to Gilead pursuant to the License Agreement (the “AGEN1423 License”), (2) our obligation to complete manufacturing and know-how tech transfer activities to Gilead pursuant to the License Agreement to enable Gilead or its third party contract manufacturing organization to manufacture the licensed antibody (the “AGEN1423 Technology Transfer”), (3) our obligation to advance development of AGEN1223 to the option exercise point pursuant to the AGEN1223 Option and License Agreement (such development activities, the “AGEN1223 R&D Services”), and (4) our obligation to advance development of AGEN2373 to the option exercise point pursuant to the AGEN2373 Option and License Agreement (such development activities, the “AGEN2373 R&D Services”). We determined that the AGEN1423 License was both capable of being distinct and distinct within the context of the contract given both the advanced stage of development and that the IND was anticipated to be accepted within a short period of time after the Effective Date. Gilead can begin deriving benefit from the license prior to the AGEN1423 Technology Transfer being completed. The technology transfer plan includes an extensive list of items to be transferred over time and is separate from the transfer of the AGEN1423 License which occurred at contract inception. As a result, we concluded that the AGEN1423 License and AGEN1423 Technology Transfer are separate performance obligations. We considered whether the AGEN1223 R&D Services and AGEN2373 R&D Services were distinct from one another and from the performance obligations related to AGEN1423. We determined that the research and development services related to each antibody were both capable of being distinct and distinct within the context of the contract given that each program is governed by a separate option agreement with a separate development plan. The services performed to develop each program are independent of one another, and the antibodies are in different stages of development. We concluded that the AGEN1223 R&D Services and AGEN2373 R&D Services are separate performance obligations. We determined that there were no significant financing components, noncash consideration, or amounts that may be refunded to the customer, and as such the total upfront fixed consideration of license and research and development fees totaling $120.0 million would be included in the total transaction price. In addition to the fixed consideration, the variable consideration milestones related to IND acceptance for each of the three antibodies was also included in the transaction price. We determined that based on the likelihood of the triggering event occurring for the acceptance of each IND filling, the most likely amount for each of the three milestones was the stated value, totaling $22.5 million. The variable consideration related to each performance obligation will be allocated entirely to that specific performance obligation. The remaining fixed consideration will be allocated using the relative standalone selling price method. We determined the estimated standalone selling price of the AGEN1423 License by applying a risk adjusted, net present value, estimate of future cash flow approach. We determined the estimated standalone selling price of the AGEN1423 Technology Transfer, and AGEN1223 R&D Services and AGEN2373 R&D Services by using the estimated costs of satisfying these performance obligations, plus an appropriate margin for such services. Revenue attributable to the AGEN1423 License was recognized at a point-in-time, upon delivery of the license to Gilead at the Effective Date. The AGEN1423 Technology Transfer, AGEN1223 R&D Services and AGEN2373 R&D Services are satisfied over time and revenue attributable to these performance obligations will be recognized as the related services are being performed using the input of costs incurred over total costs expected to be incurred. We believe this is the best measure of progress because other measures do not reflect how we transfer our performance obligations to Gilead. A cost-based input method of revenue recognition requires management to make estimates of costs to complete our performance obligations. In making such estimates, significant judgment is required to evaluate assumptions related to cost estimates. The cumulative effect of revisions to estimated costs to complete our performance obligations will be recorded in the period in which changes are identified and amounts can be reasonably estimated. A significant change in these assumptions and estimates could have a material impact on the timing and amount of revenue recognized in future periods. For the three months ended June 30, 2019, we recognized $3.8 million of license and collaboration revenue related to the Gilead Collaboration Agreement. This amount included $3.8 million of the transaction price recognized based on the partial satisfaction of the over time performance obligations as of quarter end. For the six months ended June 30, 2019, we recognized $74.1 million of license and collaboration revenue related to the Gilead Collaboration Agreement. This amount included $8.6 million of the transaction price recognized based on the partial satisfaction of the over time performance obligations as of period end. We expect to recognize deferred research and development revenue of $13.2 million, $34.4 million, and $20.8 million for the remainder of 2019, 2020, and 2021, respectively, related to performance obligations that are unsatisfied or partially unsatisfied as of June 30, 2019. Incyte Collaboration Agreement For the three months ended June 30, 2019, we recognized approximately $0.6 million of research and development revenue. This amount included $0.1 million of the transaction price for the collaboration agreement (“Incyte Collaboration Agreement”) we entered into with Incyte Corporation (“Incyte”) recognized based on the partial satisfaction of the over time performance obligations as of quarter end and $0.5 million for research and development services. For the three months ended June 30, 2018, we recognized approximately $6.5 million of research and development revenue. This amount included $0.3 million of the transaction price for the Incyte Collaboration Agreement recognized based on the partial satisfaction of the over time performance obligations as of quarter end, $5.0 million for the achievement of a milestone For the six months ended June 30, 2019, we recognized approximately $1.2 million of research and development revenue. This amount included $0.3 million of the transaction price for the Incyte Collaboration Agreement recognized based on the partial satisfaction of the over time performance obligations as of period end and $0.9 million for research and development services. For the six months ended June 30, 2018, we recognized approximately $8.1 million of research and development revenue. This amount included $0.8 million of the transaction price for the Incyte Collaboration Agreement recognized based on proportional performance, $5.0 million for the achievement of a milestone and $2.3 million for research and development services. We expect to recognize deferred research and development revenue of $0.6 million and $1.2 million for the remainder of 2019 and 2020, respectively, related to performance obligations that are unsatisfied or partially unsatisfied as of June 30, 2019. These amounts exclude amounts (milestones, research and development services and royalties) where we have a right to invoice the customer in the amount that corresponds directly with the value of the performance completed to date. Disaggregation of Revenue The following tables present revenue (in thousands) for the three and six months ended June 30, 2019 and June 30, 2018, disaggregated by geographic region and revenue type. Revenue by geographic region is allocated based on the domicile of our respective business operations. Three months ended June 30, 2019 United States Europe Total Revenue Type Research and development services $ 486 $ — $ 486 Recognition of deferred revenue 3,913 — 3,913 Recognition of deferred grant revenue 231 55 286 Manufacturing services 1,767 — 1,767 Non-cash royalty revenue 9,263 — 9,263 $ 15,660 $ 55 $ 15,715 Three months ended June 30, 2018 Revenue Type Research and development services $ 1,144 $ — $ 1,144 License and collaboration milestones 5,000 4,000 9,000 Recognition of deferred revenue 329 — 329 Non-cash royalty revenue 5,422 — 5,422 $ 11,895 $ 4,000 $ 15,895 Six months ended June 30, 2019 United States Europe Total Revenue Type Research and development services $ 901 $ — $ 901 License fee revenue 65,500 — 65,500 Recognition of deferred revenue 8,870 — 8,870 Recognition of deferred grant revenue 646 55 701 Manufacturing services 1,767 — 1,767 Non-cash royalty revenue 17,869 — 17,869 $ 95,553 $ 55 $ 95,608 Six months ended June 30, 2018 Revenue Type Research and development services $ 2,307 $ — $ 2,307 License and collaboration milestones $ 5,000 $ 4,000 9,000 Recognition of deferred revenue $ 802 $ — 802 Non-cash royalty revenue 5,422 — 5,422 $ 13,531 $ 4,000 $ 17,531 Contract Balances Contract assets primarily relate to our rights to consideration for work completed in relation to our research and development services performed but not billed at the reporting date. The contract assets are transferred to receivables when the rights become unconditional. We had no asset impairment charges related to contract assets in the period. The contract liabilities primarily relate to contracts where we received payments but have not yet satisfied the related performance obligations. The advance consideration received from customers for research and development services or licenses bundled with other promises is a contract liability until the underlying performance obligations are transferred to the customer. The following table provides information about contract assets and contract liabilities from contracts with customers (in thousands): Six months ended June 30, 2019 Balance at beginning of period Additions Deductions Balance at end of period Contract assets: Unbilled receivables from collaboration partners $ - $ - $ - $ - Contract liabilities: Deferred revenue $ 2,052 $ 62,000 $ (8,870 ) $ 55,182 The change in contract liabilities is primarily related to the addition of $62.0 million of deferred revenue from the Gilead Collaboration Agreement, offset by the recognition of $8.6 million of revenue related to this same agreement and $0.3 million of revenue related to the Incyte Collaboration Agreement during the six months ended June 30, 2019. Deferred revenue related to the Gilead Collaboration Agreement of $53.4 million ($68.4 million net of a $15.0 million contract asset) as of June 30, 2019, which was comprised of the $142.5 million initial transaction price, less $74.1 million of license and collaboration revenue recognized from the effective date of the contract, will be recognized as the combined performance obligation is satisfied. Deferred revenue related to our Incyte Collaboration Agreement of $1.8 million as of June 30, 2019, which was comprised of the $25.0 million upfront payment, less $23.2 million of license and collaboration revenue recognized from the effective date of the contract, will be recognized as the performance obligation is satisfied. We also recorded a $2.2 million receivable as of June 30, 2019 for research and development and manufacturing services provided. During the six months ended June 30, 2019, we did not recognize any revenue from amounts included in the contract asset or the contract liability balances from performance obligations satisfied in previous periods. None of the costs to obtain or fulfill a contract were capitalized.

Share-Based Compensation Plans

Share-Based Compensation Plans	6 Months Ended
	Jun. 30, 2019
Share Based Compensation [Abstract]
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 summary of option activity for the six months ended June 30, 2019 is presented below: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding at December 31, 2018 18,613,822 $ 4.15 Granted 5,756,594 2.41 Exercised (291 ) 1.86 Forfeited (441,942 ) 3.08 Expired (84,369 ) 5.07 Outstanding at June 30, 2019 23,843,814 $ 3.74 7.53 $ 5,963,229 Vested or expected to vest at June 30, 2019 23,843,814 $ 3.74 7.53 $ 5,963,229 Exercisable at June 30, 2019 12,352,886 $ 4.39 5.94 $ 128,204 The weighted average grant-date fair values of stock options granted during the six months ended June 30, 2019 and 2018 were $1.83 and $1.29, respectively. As of June 30, 2019, there was approximately $16.0 million of total unrecognized share-based compensation expense related to these stock options which, if all milestones are achieved, will be recognized over a weighted average period of 2.4 years. Certain employees and consultants have been granted non-vested stock. The fair value of non-vested market-based awards is calculated based on a Monte Carlo simulation as of the date of issuance. The fair value of other non-vested stock is calculated based on the closing sale price of our common stock on the date of issuance. A summary of non-vested stock activity for the six months ended June 30, 2019 is presented below: Non-vested Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2018 2,213,967 $ 3.20 Granted 647,682 2.95 Vested (53,190 ) 3.76 Forfeited (590,786 ) 4.15 Outstanding at June 30, 2019 2,217,673 $ 2.86 As of June 30, 2019, there was approximately $4.7 million of unrecognized share-based compensation expense related to these non-vested shares for which, if all milestones are achieved, will be recognized over a period of 2.2 years. During the six months ended June 30, 2019, 84,703 shares were issued under the 2009 Employee Stock Purchase Plan, 53,190 The impact on our results of operations from share-based compensation for the six months ended June 30, 2019 and 2018, was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Research and development $ 610 $ 641 $ 1,497 $ 1,640 General and administrative 1,306 944 2,263 2,150 Total share-based compensation expense $ 1,916 $ 1,585 $ 3,760 $ 3,790

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	Note L – Leases The majority of our operating lease agreements are for the office, research and development and manufacturing space we use to conduct our operations. We lease a facility in Lexington, Massachusetts for our manufacturing, research and development, and corporate offices, office space in New York, New York for use as corporate offices, a facility in Berkeley, California, for manufacturing and corporate offices and facilities in Charlottesville, Virginia and Cambridge, United Kingdom for research and development and corporate offices. We have subleased a small portion of the space in our Lexington facility for part of the associated head lease. These agreements expire at various times between 2020 and 2030. We also have finance lease agreements for equipment used in our research and development and manufacturing activities which expire in 2020. Lease information related to the adoption of ASC 842 The components of lease cost recorded in our condensed consolidated statement of operations were as follows (in thousands): Three months ended June 30, 2019 Six months ended June 30, 2019 Operating lease cost $ 604 $ 1,155 Finance lease cost 58 123 Variable lease cost 357 655 Sublease income (140 ) (280 ) Net lease cost $ 879 $ 1,653 Variable lease cost for the three and six months ended June 30, 2019 primarily related to common area maintenance, taxes, utilities and insurance associated with our operating leases. Short-term lease cost for the three and six months ended June 30, 2019 was immaterial. Cash paid for amounts included in the measurement of operating lease liabilities for the six months ended June 30, 2019 was approximately $771,000. Cash paid for amounts included in the measurement of finance lease liabilities for the six months ended June 30, 2019 was immaterial. The following table presents supplemental balance sheet information related to our leases as of June 30, 2019 (in thousands): As of June 30, 2019 Operating Leases Operating lease right-of-use assets $ 6,600 Total operating lease right-of-use assets 6,600 Current portion, operating lease liabilities 1,244 Operating lease liabilities, net of current portion 7,286 Total operating lease liabilities 8,530 Finance Leases Property, plant and equipment, net 856 Total finance lease right-of-use assets 856 Other current liabilities 317 Other long-term liabilities — Total finance lease liabilities $ 317 Maturities of our operating lease liabilities in accordance with ASC 842 as of June 30, 2019 were as follows (in thousands): Year Operating Leases Finance leases Expected sublease receipts Net future lease commitments Remainder of 2019 $ 1,269 $ 209 $ (280 ) $ 1,198 2020 2,450 159 (578 ) 2,031 2021 2,262 2,262 2022 2,313 2,313 2023 1,864 1,864 Thereafter 3,852 3,852 Total $ 14,010 $ 368 $ (858 ) $ 13,520 Less imputed interest (5,480 ) (51 ) Present value of lease liabilities $ 8,530 $ 317 Total future minimum lease payments of approximately $2.9 million for an operating lease that has not yet commenced as of June 30, 2019, as we do not yet control the underlying asset, are not included in the condensed consolidated financial statements. This lease is expected to commence in 2019 with a term of 10 years. The weighted-average remaining lease terms and discount rates related to our operating leases were as follows: June 30, 2019 Weighted average remaining lease term (in years) 6.1 Weighted average discount rate 16.4 % Additional lease information related to the application of ASC 840 The following information is disclosed in accordance with ASC 840, which was applicable until December 31, 2018. As of December 31, 2018, future minimum commitments under our facility leases were as follows (in thousands): Year ending December 31, 2019 $ 2,499 2020 2,279 2021 1,874 2022 1,915 2023 1,457 Thereafter 928 Total $ 10,952

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2019
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Pronouncements	Recently Issued and Adopted In February 2016, the FASB issued ASC 842 which supersedes ASC 840, Leases. ASC 842 requires lessees to recognize a right-of-use asset and a lease liability on their balance sheets for all leases with terms greater than twelve months. We adopted the new standard on January 1, 2019 and have used the effective date as our date of initial application. See Note B and Note L. In June 2018, the FASB issued ASU No. 2018-07, Compensation – Stock Compensation (Topic 718) Improvements to Nonemployee Share-Based Payment Accounting (“ASU 2018-07”). The amendments in ASU 2018-07 simplify the accounting for share-based payments to nonemployees by aligning it with the accounting for share-based payments to employees, with certain exceptions. We adopted the new standard on January 1, 2019. The adoption did not have a material impact on our consolidated financial statements. Recently Issued, Not Yet Adopted In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) (“ASU 2017-04”) that will eliminate the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, an impairment charge will be based on the excess of a reporting unit’s carrying amount over its fair value. The guidance is effective for the Company in the first quarter of fiscal 2020. Early adoption is permitted. We do not anticipate the adoption of this guidance to have a material impact on our consolidated financial statements, absent any goodwill impairment. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13"). The amendments in ASU 2018-13 modify the disclosure requirements of fair value measurements. The standard will be effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. Certain disclosures are required to be applied on a retrospective basis and others on a prospective basis. We are currently evaluating the impact of adoption of ASU 2018-13 on our financial statement disclosures. In August 2018, the FASB issued ASU No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract ("ASU 2018-15"). The amendments in ASU 2018-15 align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The standard will be effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. ASU 2018-15 is required to be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. We are currently evaluating the impact of adoption of ASU 2018-07 on our consolidated financial statements. In November 2018, the FASB issued ASU No. 2018-18, Collaborative Arrangements (Topic 808): Clarifying the Interaction between Topic 808 and Topic 606, Revenue from Contracts with Customers, (“ASC 606”) No other new accounting pronouncement issued or effective during the six months ended June 30, 2019 had or is expected to have a material impact on our consolidated financial statements or disclosures.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Leases	Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, Leases (Topic 842) (“ASC 842”) which supersedes Topic 840, Leases (“ASC 840”). We adopted ASC 842 on January 1, 2019 using the alternative transition method and recorded a cumulative effect adjustment to beginning retained earnings without restating prior periods. Accordingly, all financial information and disclosures for periods before January 1, 2019 continue to be presented under the requirements of ASC 840. We elected the package of practical expedients, which allowed us to carry forward our historical lease classification, our assessment of whether a contract is or contains a lease and our initial direct costs for any leases that existed prior to adoption of the new standard. At the inception of an agreement, we determine whether the contract contains a lease. If a lease is identified in such arrangement, we recognize a right-of-use asset and liability on our consolidated balance sheet and determine whether the lease should be classified as a finance or operating lease. We have elected not to recognize assets or liabilities for leases with lease terms of 12 months or less. A lease qualifies as a finance lease if any of the following criteria are met at the inception of the lease: (i) there is a transfer of ownership of the leased asset by the end of the lease term, (ii) we hold an option to purchase the leased asset that we are reasonably certain to exercise, (iii) the lease term is for a major part of the remaining economic life of the leased asset, (iv) the present value of the sum of lease payments equals or exceeds substantially all of the fair value of the leased asset, or (v) the nature of the leased asset is specialized to the point that it is expected to provide the lessor no alternative use at the end of the lease term. All other leases are recorded as operating leases. Finance and operating lease right-of-use assets and liabilities are recognized at the lease commencement date. Lease liabilities are recognized as the present value of the lease payments over the lease term using the discount rate implicit in the lease. If the implicit rate is not readily determinable, as is the case with all our current leases, we utilize our incremental borrowing rate at the lease commencement date. Right-of-use assets are recognized based on the amount of the lease liability, adjusted for any advance lease payments paid, initial direct costs incurred, or lease incentives received prior to commencement. Right-of-use assets are subject to evaluation for impairment or disposal on a basis consistent with other long-lived assets. Operating lease payments are expensed using the straight-line method as an operating expense over the lease term, unless the right-of-use asset reflects impairment. We will then recognize the amortization of the right-of-use asset on a straight-line basis over the remaining lease term with rent expense still included in operating expense in our condensed consolidated statement of operations. Finance lease assets are amortized to depreciation expense using the straight-line method over the shorter of the useful life of the related asset or the lease term, unless the lease includes a provision that either (i) results in the transfer of ownership of the underlying asset at the end of the lease term or (ii) includes a purchase option whose exercise is reasonably certain. In either of these instances, the right-of-use asset is amortized over the useful life of the underlying asset. Finance lease payments are bifurcated into (i) a portion that is recorded as imputed interest expense and (ii) a portion that reduces the finance lease liability. We do not separate lease and non-lease components for any of our current asset classes when determining which lease payments to include in the calculation of its lease assets and liabilities. Variable lease payments are expensed in the period incurred. If a lease includes an option to extend or terminate the lease, we reflect the option in the lease term if it is reasonably certain the option will be exercised. Our right of use assets and lease liabilities generally exclude periods covered by renewal options and include periods covered by early termination options (based on our conclusion that it is not reasonably certain that we will exercise such options). We account for the sublease of space in our Lexington, Massachusetts facility from the perspective of a lessor. Our sublease is classified as an operating lease. We record sublease income as a reduction of operating expense. Operating leases are recorded in “Operating lease right-of-use assets”, “Current portion, operating lease liabilities” and “Operating lease liabilities, net of current portion”, while finance leases are recorded in “Property, plant and equipment, net”, “Other current liabilities” and “Other long-term liabilities” on our condensed consolidated balance sheet. Impact of Adopting ASC 842 on the Condensed Consolidated Financial Statements We recorded the following adjustments to our condensed consolidated balance sheet on the date of adoption (in thousands): As Reported December 31, 2018 ASC 842 Adjustment Adjusted January 1, 2019 Condensed Consolidated Balance Sheet Data: Operating lease right-of-use assets $ — $ 5,687 $ 5,687 Current portion, operating lease liabilities — 1,510 1,510 Other current liabilities 484 (95 ) 389 Operating lease liabilities, net of current portion — 6,216 6,216 Other long-term liabilities 2,773 (1,921 ) 852 Accumulated deficit $ (1,177,311 ) $ (25 ) $ (1,177,336 ) The adoption did not have an impact on our condensed consolidated statement of operations or our condensed consolidated statement of cash flows. See Note L for additional information regarding our leases.
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, non-vested shares, convertible preferred stock, and convertible notes. Because we reported a net loss attributable to common stockholders for all periods presented (listed on an as-if-converted-to-Common-Stock basis) Three and Six Months Ended June 30, 2019 2018 Warrants 1,400 2,900 Stock options 23,844 17,061 Non-vested shares 2,218 2,011 Series A-1 convertible preferred stock 333 333 Series C-1 convertible preferred stock 12,459 -

Business, Liquidity and Basis_2

Business, Liquidity and Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2019
Description Of Business [Abstract]
Schedule of Cash and Cash Equivalents	The following table outlines our quarter end cash and cash equivalents balances and the changes therein (in millions). Quarter Ended March 31, 2019 June 30, 2019 Cash and cash equivalents $ 158.3 $ 121.7 Increase (decrease) in cash and cash equivalents $ 105.3 $ (36.6 ) Cash provided by operating activities $ 76.6 $ 40.9 Reported net income (loss) $ 17.4 $ (51.9 )

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Topic 842 Disclosure of Impact of Adoption to Condensed Consolidated Financial Statements	We recorded the following adjustments to our condensed consolidated balance sheet on the date of adoption (in thousands): As Reported December 31, 2018 ASC 842 Adjustment Adjusted January 1, 2019 Condensed Consolidated Balance Sheet Data: Operating lease right-of-use assets $ — $ 5,687 $ 5,687 Current portion, operating lease liabilities — 1,510 1,510 Other current liabilities 484 (95 ) 389 Operating lease liabilities, net of current portion — 6,216 6,216 Other long-term liabilities 2,773 (1,921 ) 852 Accumulated deficit $ (1,177,311 ) $ (25 ) $ (1,177,336 )

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Schedule of Anti-dilutive Securities Excluded from Computation of Diluted Weighted Average Shares Outstanding	The following securities (listed on an as-if-converted-to-Common-Stock basis) Three and Six Months Ended June 30, 2019 2018 Warrants 1,400 2,900 Stock options 23,844 17,061 Non-vested shares 2,218 2,011 Series A-1 convertible preferred stock 333 333 Series C-1 convertible preferred stock 12,459 -

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2019
Cash And Cash Equivalents [Abstract]
Schedule of Cash Equivalents	Cash equivalents consisted of the following as of June 30, 2019 and December 31, 2018 (in thousands): June 30, 2019 December 31, 2018 Cost Estimated Fair Value Cost Estimated Fair Value Institutional money market funds $ 108,778 $ 108,778 $ 29,948 $ 29,948 U.S. Treasury Bills 4,973 4,973 — — Total $ 113,751 $ 113,751 $ 29,948 $ 29,948

Goodwill and Acquired Intangi_2

Goodwill and Acquired Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2019
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 six months ended June 30, 2019 (in thousands): Balance, December 31, 2018 $ 22,925 Foreign currency translation adjustment 109 Balance, June 30, 2019 $ 23,034
Schedule of Acquired Intangible Assets	Acquired intangible assets consisted of the following as of June 30, 2019 and December 31, 2018 (in thousands): As of June 30, 2019 Amortization period (years) Gross carrying amount Accumulated amortization Net carrying amount Intellectual property 7-15 years $ 16,541 $ (7,092 ) $ 9,449 Trademarks 4.5 years 825 (825 ) - Other 2-6 years 570 (529 ) 41 In-process research and development Indefinite 1,926 — 1,926 Total $ 19,862 $ (8,446 ) $ 11,416 As of December 31, 2018 Amortization period (years) Gross carrying amount Accumulated amortization Net carrying amount Intellectual property 7-15 years $ 16,509 $ (6,147 ) $ 10,362 Trademarks 4.5 years 820 (820 ) - Other 2-6 years 569 (505 ) 64 In-process research and development Indefinite 1,912 — 1,912 Total $ 19,810 $ (7,472 ) $ 12,338

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of Debt Obligations	Debt obligations consisted of the following as of June 30, 2019 and December 31, 2018 (in thousands): Debt instrument Principal at June 30, 2019 Unamortized Debt Discount Balance at June 30, 2019 Current Portion: Debentures $ 146 $ — $ 146 2015 Subordinated Notes 14,000 (467 ) 13,533 Total $ 14,146 $ (467 ) $ 13,679 Debt instrument Principal at December 31, 2018 Unamortized Debt Discount Balance at December 31, 2018 Current Portion: Debentures $ 146 $ — $ 146 Long-term Portion: 2015 Subordinated Notes 14,000 (788 ) 13,212 Total $ 14,146 $ (788 ) $ 13,358

Liability Related to the Sale_2

Liability Related to the Sale of Future Royalties and Milestones (Tables)	6 Months Ended
	Jun. 30, 2019
Text Block [Abstract]
Schedule of Liability Account	The following table shows the activity within the liability account in the six months ended June 30, 2019 (in thousands): Period from December 31, 2018 to June 30, 2019 Liability related to sale of future royalties and milestones - beginning balance $ 210,795 Non-cash royalty revenue (17,869 ) Non-cash interest expense recognized 19,257 Liability related to sale of future royalties and milestones - ending balance 212,183 Less: unamortized transaction costs (505 ) Liability related to sale of future royalties and milestones, net $ 211,678

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2019
Other Liabilities Disclosure [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following as of June 30, 2019 and December 31, 2018 (in thousands): June 30, 2019 December 31, 2018 Payroll $ 6,317 $ 8,770 Professional fees 3,652 3,528 Contract manufacturing costs 6,379 5,947 Research services 5,774 5,348 Other 1,105 958 Total $ 23,227 $ 24,551

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of Liabilities Measured at Fair Value	Liabilities measured at fair value are summarized below (in thousands): Description June 30, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Contingent purchase price considerations $ 5,999 $ — $ — $ 5,999 Total $ 5,999 $ — $ — $ 5,999 Description December 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Contingent purchase price consideration $ 3,038 $ — $ — $ 3,038 Total $ 3,038 $ — $ — $ 3,038
Schedule of Liabilities Measured at Fair Value Using Significant Unobservable Inputs	The following table presents our liabilities measured at fair value using significant unobservable inputs (Level 3), as of June 30, 2019 (in thousands): Balance, December 31, 2018 $ 3,038 Change in fair value of contingent purchase price considerations during the period 2,961 Balance, June 30, 2019 $ 5,999

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2019
Collaboration [Abstract]
Summary of Disaggregation of Revenue	The following tables present revenue (in thousands) for the three and six months ended June 30, 2019 and June 30, 2018, disaggregated by geographic region and revenue type. Revenue by geographic region is allocated based on the domicile of our respective business operations. Three months ended June 30, 2019 United States Europe Total Revenue Type Research and development services $ 486 $ — $ 486 Recognition of deferred revenue 3,913 — 3,913 Recognition of deferred grant revenue 231 55 286 Manufacturing services 1,767 — 1,767 Non-cash royalty revenue 9,263 — 9,263 $ 15,660 $ 55 $ 15,715 Three months ended June 30, 2018 Revenue Type Research and development services $ 1,144 $ — $ 1,144 License and collaboration milestones 5,000 4,000 9,000 Recognition of deferred revenue 329 — 329 Non-cash royalty revenue 5,422 — 5,422 $ 11,895 $ 4,000 $ 15,895 Six months ended June 30, 2019 United States Europe Total Revenue Type Research and development services $ 901 $ — $ 901 License fee revenue 65,500 — 65,500 Recognition of deferred revenue 8,870 — 8,870 Recognition of deferred grant revenue 646 55 701 Manufacturing services 1,767 — 1,767 Non-cash royalty revenue 17,869 — 17,869 $ 95,553 $ 55 $ 95,608 Six months ended June 30, 2018 Revenue Type Research and development services $ 2,307 $ — $ 2,307 License and collaboration milestones $ 5,000 $ 4,000 9,000 Recognition of deferred revenue $ 802 $ — 802 Non-cash royalty revenue 5,422 — 5,422 $ 13,531 $ 4,000 $ 17,531
Schedule of Information about Contract Assets and Contract Liabilities from Contracts with Customers	The following table provides information about contract assets and contract liabilities from contracts with customers (in thousands): Six months ended June 30, 2019 Balance at beginning of period Additions Deductions Balance at end of period Contract assets: Unbilled receivables from collaboration partners $ - $ - $ - $ - Contract liabilities: Deferred revenue $ 2,052 $ 62,000 $ (8,870 ) $ 55,182

Share-Based Compensation Plans

Share-Based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2019
Share Based Compensation [Abstract]
Schedule Of Stock Option Activity	A summary of option activity for the six months ended June 30, 2019 is presented below: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding at December 31, 2018 18,613,822 $ 4.15 Granted 5,756,594 2.41 Exercised (291 ) 1.86 Forfeited (441,942 ) 3.08 Expired (84,369 ) 5.07 Outstanding at June 30, 2019 23,843,814 $ 3.74 7.53 $ 5,963,229 Vested or expected to vest at June 30, 2019 23,843,814 $ 3.74 7.53 $ 5,963,229 Exercisable at June 30, 2019 12,352,886 $ 4.39 5.94 $ 128,204
Summary Of Non-vested Stock Activity	A summary of non-vested stock activity for the six months ended June 30, 2019 is presented below: Non-vested Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2018 2,213,967 $ 3.20 Granted 647,682 2.95 Vested (53,190 ) 3.76 Forfeited (590,786 ) 4.15 Outstanding at June 30, 2019 2,217,673 $ 2.86
Schedule Of Share-Based Compensation Expense	The impact on our results of operations from share-based compensation for the six months ended June 30, 2019 and 2018, was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Research and development $ 610 $ 641 $ 1,497 $ 1,640 General and administrative 1,306 944 2,263 2,150 Total share-based compensation expense $ 1,916 $ 1,585 $ 3,760 $ 3,790

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Schedule of Components of Lease Cost Recorded in Condensed Consolidated Statement of Operations	The components of lease cost recorded in our condensed consolidated statement of operations were as follows (in thousands): Three months ended June 30, 2019 Six months ended June 30, 2019 Operating lease cost $ 604 $ 1,155 Finance lease cost 58 123 Variable lease cost 357 655 Sublease income (140 ) (280 ) Net lease cost $ 879 $ 1,653
Schedule of Supplemental Balance Sheet Information Related to Lease	The following table presents supplemental balance sheet information related to our leases as of June 30, 2019 (in thousands): As of June 30, 2019 Operating Leases Operating lease right-of-use assets $ 6,600 Total operating lease right-of-use assets 6,600 Current portion, operating lease liabilities 1,244 Operating lease liabilities, net of current portion 7,286 Total operating lease liabilities 8,530 Finance Leases Property, plant and equipment, net 856 Total finance lease right-of-use assets 856 Other current liabilities 317 Other long-term liabilities — Total finance lease liabilities $ 317
Schedule of Maturities of Operating Lease Liabilities in Accordance With ASC 842	Maturities of our operating lease liabilities in accordance with ASC 842 as of June 30, 2019 were as follows (in thousands): Year Operating Leases Finance leases Expected sublease receipts Net future lease commitments Remainder of 2019 $ 1,269 $ 209 $ (280 ) $ 1,198 2020 2,450 159 (578 ) 2,031 2021 2,262 2,262 2022 2,313 2,313 2023 1,864 1,864 Thereafter 3,852 3,852 Total $ 14,010 $ 368 $ (858 ) $ 13,520 Less imputed interest (5,480 ) (51 ) Present value of lease liabilities $ 8,530 $ 317
Schedule of Weighted-Average Remaining Lease Terms and Discount Rates Related to Operating Leases	The weighted-average remaining lease terms and discount rates related to our operating leases were as follows: June 30, 2019 Weighted average remaining lease term (in years) 6.1 Weighted average discount rate 16.4 %
Schedule of Future Minimum Commitments Under Facility Leases in Accordance With ASC 840	The following information is disclosed in accordance with ASC 840, which was applicable until December 31, 2018. As of December 31, 2018, future minimum commitments under our facility leases were as follows (in thousands): Year ending December 31, 2019 $ 2,499 2020 2,279 2021 1,874 2022 1,915 2023 1,457 Thereafter 928 Total $ 10,952

Business, Liquidity and Basis_3

Business, Liquidity and Basis of Presentation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Description Of Business [Abstract]
Cash and cash equivalents	$ 121,717	$ 158,300	$ 121,717	$ 43,163	$ 53,054	$ 60,187
Increase in cash and cash equivalents	(36,600)	$ 105,300	68,663	$ (17,024)	68,700
Accumulated deficit	$ 1,209,464		$ 1,209,464		$ 1,177,311

Business, Liquidity and Basis_4

Business, Liquidity and Basis of Presentation - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Description Of Business [Abstract]
Cash and cash equivalents	$ 121,717	$ 158,300	$ 43,163		$ 121,717	$ 43,163	$ 53,054	$ 60,187
Increase (decrease) in cash and cash equivalents	(36,600)	105,300			68,663	(17,024)	$ 68,700
Cash provided by operating activities	40,900	76,600			40,883	(70,781)
Reported net income (loss)	$ (51,867)	$ 17,435	$ (25,204)	$ (54,262)	$ (34,432)	$ (79,466)

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Topic 842 Disclosure of Impact of Adoption to Condensed Consolidated Financial Statements) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 6,600
Current portion, operating lease liabilities	1,244
Other current liabilities	350		$ 484
Operating lease liabilities, net of current portion	7,286
Other long-term liabilities	3,101		2,773
Accumulated deficit	$ (1,209,464)		(1,177,311)
As Reported [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Other current liabilities			484
Other long-term liabilities			2,773
Accumulated deficit			$ (1,177,311)
ASC 842 [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Operating lease right-of-use assets		$ 5,687
Current portion, operating lease liabilities		1,510
Other current liabilities		389
Operating lease liabilities, net of current portion		6,216
Other long-term liabilities		852
Accumulated deficit		(1,177,336)
ASC 842 [Member] | Adjustment [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Operating lease right-of-use assets		5,687
Current portion, operating lease liabilities		1,510
Other current liabilities		(95)
Operating lease liabilities, net of current portion		6,216
Other long-term liabilities		(1,921)
Accumulated deficit		$ (25)

Net Loss Per Share (Schedule of

Net Loss Per Share (Schedule of Anti-dilutive Securities Excluded from Computation of Diluted Weighted Average Shares Outstanding) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,400	2,900	1,400	2,900
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	23,844	17,061	23,844	17,061
Non-vested Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,218	2,011	2,218	2,011
Series A-1 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
Series C-1 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	12,459		12,459

Investments (Schedule of Cash E

Investments (Schedule of Cash Equivalents) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Cost [Member]
Cash And Cash Equivalents [Line Items]
Cash equivalents	$ 113,751	$ 29,948
Estimated Fair Value [Member]
Cash And Cash Equivalents [Line Items]
Cash equivalents	113,751	29,948
Institutional Money Market Funds [Member] | Cost [Member]
Cash And Cash Equivalents [Line Items]
Cash equivalents	108,778	29,948
Institutional Money Market Funds [Member] | Estimated Fair Value [Member]
Cash And Cash Equivalents [Line Items]
Cash equivalents	108,778	$ 29,948
U.S. Treasury Bills [Member] | Cost [Member]
Cash And Cash Equivalents [Line Items]
Cash equivalents	4,973
U.S. Treasury Bills [Member] | Estimated Fair Value [Member]
Cash And Cash Equivalents [Line Items]
Cash equivalents	$ 4,973

Goodwill and Acquired Intangi_3

Goodwill and Acquired Intangible Assets (Schedule of Changes in Goodwill) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 22,925
Foreign currency translation adjustment	109
Ending balance	$ 23,034

Goodwill and Acquired Intangi_4

Goodwill and Acquired Intangible Assets (Acquired Intangible Assets) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 19,862	$ 19,810
Accumulated amortization	(8,446)	(7,472)
Net carrying amount	11,416	12,338
Indefinite-lived Intangible Assets Acquired	1,926	1,912
Intellectual Property [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	16,541	16,509
Accumulated amortization	(7,092)	(6,147)
Net carrying amount	$ 9,449	$ 10,362
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	$ 825	$ 820
Accumulated amortization	(825)	(820)
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	570	569
Accumulated amortization	(529)	(505)
Net carrying amount	$ 41	$ 64
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 Intangi_5

Goodwill and Acquired Intangible Assets (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	9 years
Finite-Lived Intangible Assets, Estimated Amortization Expense, 2019	$ 1
Finite-Lived Intangible Assets, Estimated Amortization Expense, December 31, 2020	1.9
Finite-Lived Intangible Assets, Estimated Amortization Expense, December 31, 2021	1.9
Finite-Lived Intangible Assets, Estimated Amortization Expense, December 31, 2022	1.9
Finite-Lived Intangible Assets, Estimated Amortization Expense, December 31, 2023	$ 1.4

Debt - Schedule of Debt Obligat

Debt - Schedule of Debt Obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt instrument, Long-term Portion
Principal, Balance Total	$ 14,146	$ 14,146
Unamortized Debt Discount Total	(467)	(788)
Balance, Long-Term Debt Total	13,679	13,358
2015 Subordinated Notes [Member]
Debt instrument, Long-term Portion
Principal Balance, Long-term Portion	14,000	14,000
Unamortized Debt Discount, Long-term Portion	(467)	(788)
Balance, Long-term Portion	13,533	13,212
Debentures [Member]
Debt instrument, Current Portion
Principal Balance, Short-term Portion	146	146
Balance, Short-term Portion	$ 146	$ 146

Liability Related to the Sale_3

Liability Related to the Sale of Future Royalties and Milestones (Schedule of Liability Account) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Liability Related To Sale Of Future Royalties And Milestones [Abstract]
Liability related to sale of future royalties and milestones - beginning balance	$ 210,795
Non-cash royalty revenue	(17,869)
Non-cash interest expense recognized	19,257
Liability related to sale of future royalties and milestones - ending balance	212,183
Less: unamortized transaction costs	(505)
Liability related to sale of future royalties and milestones, net	$ 211,678

Liability Related to the Sale_4

Liability Related to the Sale of Future Royalties and Milestones (Narrative) (Details) - USD ($) $ in Thousands	Jan. 19, 2018	Jun. 30, 2019	Jan. 06, 2018
Liability Related To Sale Of Future Royalties And Milestones [Line Items]
Non-cash royalty revenue recognized		$ 17,869
Non-cash interest expense		19,257
HCR [Member] | GSK Agreements [Member] | Royalty Purchase Agreement [Member]
Liability Related To Sale Of Future Royalties And Milestones [Line Items]
Percentage of purchase of worldwide rights to receive royalties			100.00%
Gross proceeds received for royalty rights	$ 190,000
Non-cash royalty revenue recognized		17,900
Non-cash interest expense		$ 19,300
Effective annual interest rate		20.20%
Prospective effective annual interest rate		18.50%

Accrued Liabilities (Schedule o

Accrued Liabilities (Schedule of Accrued Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Accrued Liabilities Current [Abstract]
Payroll	$ 6,317	$ 8,770
Professional fees	3,652	3,528
Contract manufacturing costs	6,379	5,947
Research services	5,774	5,348
Other	1,105	958
Total	$ 23,227	$ 24,551

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent purchase price considerations	$ 5,999	$ 3,038
Long-term Debt, Gross	14,146	14,146
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	$ 14,200	$ 14,200

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Contingent purchase price considerations, Fair Value Disclosure	$ 5,999	$ 3,038
Total	5,999	3,038
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Contingent purchase price considerations, Fair Value Disclosure	0	0
Total	0	0
Significant Other Observable Inputs (Level 2) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Contingent purchase price considerations, Fair Value Disclosure	0	0
Total	0	0
Significant Unobservable Inputs (Level 3) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Contingent purchase price considerations, Fair Value Disclosure	5,999	3,038
Total	$ 5,999	$ 3,038

Fair Value Measurements (Sche_2

Fair Value Measurements (Schedule of Liabilities Measured at Fair Value Using Significant Unobservable Inputs) (Details) - Significant Unobservable Inputs (Level 3) [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Balance, beginning of period	$ 3,038
Balance, end of period	5,999
Contingent purchase price [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Change in fair value of considerations during the period	$ 2,961

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Narrative) (Details)	Dec. 20, 2018USD ($)AgreementProgramOption$ / sharesshares	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Revenue From Contract With Customer [Line Items]
Shares sold at the market, value			$ 22,637,000	$ 5,258,000
Revenue recognized		$ 15,715,000	15,895,000		$ 95,608,000	$ 17,531,000
Contract with customer, liability, revenue recognized					8,870,000
Asset impairment charges					0
Deferred revenue, Additions					62,000,000
Deferred revenue		55,182,000			55,182,000		$ 2,052,000
Capitalized contract , cost		0			0
Research and development services [Member]
Revenue From Contract With Customer [Line Items]
Revenue recognized		4,399,000	10,473,000		75,271,000	12,109,000
Research and development services [Member]
Revenue From Contract With Customer [Line Items]
Revenue recognized		486,000	1,144,000		901,000	2,307,000
License Agreement [Member]
Revenue From Contract With Customer [Line Items]
Number of license agreement | Agreement	1
Number of license agreement programs | Program	2
License agreement termination notice period	90 days
Option And License Agreements [Member]
Revenue From Contract With Customer [Line Items]
Number of separate option and license agreements | Option	2
Upfront license exercise fee	$ 50,000,000
Number of option and license agreement | Option	1
Collaboration agreement termination notice period	90 days
Option And License Agreements [Member] | Development Regulatory and Commercialization Milestones [Member]
Revenue From Contract With Customer [Line Items]
Milestone payments receivable	$ 520,000,000
Stock Purchase Agreement [Member]
Revenue From Contract With Customer [Line Items]
Shares sold at the market, value	$ 30,000,000
Shares sold at the market, shares | shares	11,111,111
Number of shares purchased, price per share | $ / shares	$ 2.70
Percentage of common stock outstanding shares	8.50%
Stock purchase agreement, additional shares indisposable period	12 months
Maximum percentage of voting stock allowed to acquire	15.00%
Stock purchase agreement, additional shares, favorable voting period	12 months
Incyte Collaboration Agreement [Member]
Revenue From Contract With Customer [Line Items]
Proceeds from collaborators					25,000,000
Contract with customer, liability, revenue recognized					300,000
Deferred revenue		1,800,000			1,800,000
Incyte Collaboration Agreement [Member] | License and Collaboration Revenue [Member]
Revenue From Contract With Customer [Line Items]
Revenue recognized					23,200,000
Gilead Collaboration Agreement [Member]
Revenue From Contract With Customer [Line Items]
Contract with customer, liability, revenue recognized					8,600,000
Deferred revenue, Additions					62,000,000
Deferred revenue		68,400,000			68,400,000
Contract with customer, net asset liability		53,400,000			53,400,000
Contract with customer, asset		15,000,000			15,000,000
Initial transaction price					142,500,000
Gilead Collaboration Agreement [Member] | License and Collaboration Revenue [Member]
Revenue From Contract With Customer [Line Items]
Revenue recognized					74,100,000
Gilead Sciences, Inc. [Member]
Revenue From Contract With Customer [Line Items]
Milestones stated value	$ 22,500,000
Gilead Sciences, Inc. [Member] | License and Research and Development Fees [Member]
Revenue From Contract With Customer [Line Items]
Proceeds from collaborators	120,000,000
Gilead Sciences, Inc. [Member] | Collaborative Arrangement [Member]
Revenue From Contract With Customer [Line Items]
Upfront cash payment	120,000,000
Shares sold at the market, value	30,000,000
Transaction price recognized		3,800,000			8,600,000
Gilead Sciences, Inc. [Member] | Collaborative Arrangement [Member] | License and Collaboration Revenue [Member]
Revenue From Contract With Customer [Line Items]
Revenue recognized		3,800,000			74,100,000
Incyte Corporation
Revenue From Contract With Customer [Line Items]
Receivables for R & D services		2,200,000			2,200,000
Incyte Corporation | Incyte Collaboration Agreement [Member]
Revenue From Contract With Customer [Line Items]
Transaction price recognized		100,000	300,000		300,000	800,000
Contract with customer, liability, revenue recognized			5,000,000			5,000,000
Incyte Corporation | Incyte Collaboration Agreement [Member] | Research and development services [Member]
Revenue From Contract With Customer [Line Items]
Revenue recognized		600,000	6,500,000		1,200,000	8,100,000
Incyte Corporation | Incyte Collaboration Agreement [Member] | Research and development services [Member]
Revenue From Contract With Customer [Line Items]
Revenue recognized		$ 500,000	$ 1,100,000		$ 900,000	$ 2,300,000
Maximum [Member] | License Agreement [Member] | Development Regulatory and Commercialization Milestones [Member]
Revenue From Contract With Customer [Line Items]
Potential milestone payments receivable	552,500,000
Maximum [Member] | Option And License Agreements [Member]
Revenue From Contract With Customer [Line Items]
Milestone payments receivable	30,000,000
Maximum [Member] | Gilead Sciences, Inc. [Member] | Collaborative Arrangement [Member]
Revenue From Contract With Customer [Line Items]
Aggregate potential milestones receivable	$ 1,700,000,000

Revenue from Contracts with C_4

Revenue from Contracts with Customers (Narrative) (Details 1) $ in Millions	Jun. 30, 2019USD ($)
Gilead Sciences, Inc. [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-07-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Expect to recognize deferred research and development revenue	$ 13.2
Revenue, remaining performance obligation, expected timing of satisfaction, period	6 months
Gilead Sciences, Inc. [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Expect to recognize deferred research and development revenue	$ 34.4
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Gilead Sciences, Inc. [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Expect to recognize deferred research and development revenue	$ 20.8
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Incyte Corporation | Research and development services [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-07-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Expect to recognize deferred research and development revenue	$ 0.6
Revenue, remaining performance obligation, expected timing of satisfaction, period	6 months
Incyte Corporation | Research and development services [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Expect to recognize deferred research and development revenue	$ 1.2
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year

Revenue from Contracts with C_5

Revenue from Contracts with Customers (Summary of Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation Of Revenue [Line Items]
Revenue	$ 15,715	$ 15,895	$ 95,608	$ 17,531
Research and development services [Member]
Disaggregation Of Revenue [Line Items]
Revenue	486	1,144	901	2,307
Recognition of deferred revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue	3,913	329	8,870	802
Recognition of Deferred Grant Revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue	286		701
Manufacturing services [Member]
Disaggregation Of Revenue [Line Items]
Revenue	1,767		1,767
Non-cash royalty revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue	9,263	5,422	17,869	5,422
License and collaboration milestones [Member]
Disaggregation Of Revenue [Line Items]
Revenue		9,000		9,000
Non-cash royalty revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue		5,422		5,422
License Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue			65,500
United States [Member]
Disaggregation Of Revenue [Line Items]
Revenue	15,660	11,895	95,553	13,531
United States [Member] | Research and development services [Member]
Disaggregation Of Revenue [Line Items]
Revenue	486	1,144	901	2,307
United States [Member] | Recognition of deferred revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue	3,913	329	8,870	802
United States [Member] | Recognition of Deferred Grant Revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue	231		646
United States [Member] | Manufacturing services [Member]
Disaggregation Of Revenue [Line Items]
Revenue	1,767		1,767
United States [Member] | Non-cash royalty revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue	9,263		17,869
United States [Member] | License and collaboration milestones [Member]
Disaggregation Of Revenue [Line Items]
Revenue		5,000		5,000
United States [Member] | Non-cash royalty revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue		5,422		5,422
United States [Member] | License Fee Revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue			65,500
Europe [Member]
Disaggregation Of Revenue [Line Items]
Revenue	55	4,000	55	4,000
Europe [Member] | Recognition of Deferred Grant Revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue	$ 55		$ 55
Europe [Member] | License and collaboration milestones [Member]
Disaggregation Of Revenue [Line Items]
Revenue		$ 4,000		$ 4,000

Revenue from Contracts with C_6

Revenue from Contracts with Customers (Schedule of Information about Contract Assets and Contract Liabilities from Contracts with Customers) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Contract With Customer Asset And Liability [Abstract]
Deferred revenue, Beginning Balance	$ 2,052
Deferred revenue, Additions	62,000
Deferred revenue, Deductions	(8,870)
Deferred revenue, Ending Balance	$ 55,182

Share-Based Compensation Plan_2

Share-Based Compensation Plans (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Weighted average grant-date fair value of options granted	$ 1.83	$ 1.29
Vesting of non-vested stock, shares	53,190
Shares issued from exercise of options	291
Employees and directors [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Unrecognized share-based compensation expense	$ 16
Stock Options [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Unrecognized share-based compensation expense, weighted average period	2 years 4 months 24 days
Restricted Stock [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Unrecognized share-based compensation expense	$ 4.7
Performance Based Award [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Unrecognized share-based compensation expense, weighted average period	2 years 2 months 12 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 EIP [Member] | Minimum [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Vesting period, minimum	3 years
2009 EIP [Member] | Maximum [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Vesting period, minimum	4 years
2009 ESPP [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Shares issued under ESPP	84,703

Share-Based Compensation Plan_3

Share-Based Compensation Plans (Schedule Of Stock Option Activity) (Details)	6 Months Ended
	Jun. 30, 2019USD ($)$ / sharesshares
Share Based Compensation [Abstract]
Options Outstanding, Beginning Balance | shares	18,613,822
Options Granted | shares	5,756,594
Options Exercised | shares	(291)
Options Forfeited | shares	(441,942)
Options Expired | shares	(84,369)
Options Outstanding, Ending Balance | shares	23,843,814
Options Vested or expected to vest | shares	23,843,814
Options Exercisable | shares	12,352,886
Options Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 4.15
Options Granted, Weighted Average Exercise Price | $ / shares	2.41
Options Exercised, Weighted Average Exercise Price | $ / shares	1.86
Options Forfeited, Weighted Average Exercise Price | $ / shares	3.08
Options Expired, Weighted Average Exercise Price | $ / shares	5.07
Options Outstanding, Weighted Average Exercise Price, Ending Balance | $ / shares	3.74
Options Vested or expected to vest, Weighted Average Exercise Price | $ / shares	3.74
Options Exercisable, Weighted Average Exercise Price | $ / shares	$ 4.39
Options Outstanding, Weighted Average Remaining Contractual Term	7 years 6 months 10 days
Options Vested or expected to vest, Weighted Average Remaining Contractual Term	7 years 6 months 10 days
Options Exercisable, Weighted Average Remaining Contractual Term	5 years 11 months 8 days
Options Outstanding, Aggregate Intrinsic Value | $	$ 5,963,229
Options Vested or expected to vest, Aggregate Intrinsic Value | $	5,963,229
Options Exercisable, Aggregate Intrinsic Value | $	$ 128,204

Share-Based Compensation Plan_4

Share-Based Compensation Plans (Summary Of Non-vested Stock Activity) (Details)	6 Months Ended
	Jun. 30, 2019$ / sharesshares
Share Based Compensation [Abstract]
Non-vested Shares Outstanding, Beginning Balance | shares	2,213,967
Non-vested Shares Granted | shares	647,682
Non-vested Shares Vested | shares	(53,190)
Non-vested Shares Forfeited | shares	(590,786)
Non-vested Shares Outstanding, Ending Balance | shares	2,217,673
Non-vested Shares Outstanding, Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 3.20
Non-vested Shares Granted, Weighted Average Grant Date Fair Value | $ / shares	2.95
Non-vested Shares Vested, Weighted Average Grant Date Fair Value | $ / shares	3.76
Non-vested Shares Forfeited, Weighted Average Grant Date Fair Value | $ / shares	4.15
Non-vested Shares Outstanding, Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 2.86

Share-Based Compensation Plan_5

Share-Based Compensation Plans (Schedule Of Share-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 1,916	$ 1,585	$ 3,760	$ 3,790
Research and Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	610	641	1,497	1,640
General and Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 1,306	$ 944	$ 2,263	$ 2,150

Leases (Narrative) (Details)

Leases (Narrative) (Details)	6 Months Ended
	Jun. 30, 2019USD ($)
Lessee Lease Description [Line Items]
Finance lease, expiration period	2020
Cash payments for operating lease liabilities	$ 771,000
Operating lease, lease not yet commenced, future minimum lease payments	$ 2,900,000
Operating lease, lease not yet commenced, description	This lease is expected to commence in 2019 with a term of 10 years.
Operating lease, lease not yet commenced, term of contract	10 years
Minimum [Member]
Lessee Lease Description [Line Items]
Operating lease, expiration period	2020
Maximum [Member]
Lessee Lease Description [Line Items]
Operating lease, expiration period	2030

Leases (Schedule of Components

Leases (Schedule of Components of Lease Cost Recorded in Condensed Consolidated Statement of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Leases [Abstract]
Operating lease cost	$ 604	$ 1,155
Finance lease cost	58	123
Variable lease cost	357	655
Sublease income	(140)	(280)
Net lease cost	$ 879	$ 1,653

Leases (Schedule of Supplementa

Leases (Schedule of Supplemental Balance Sheet Information Related to Lease) (Details) $ in Thousands	Jun. 30, 2019USD ($)
Lessee Lease Description [Line Items]
Total operating lease right-of-use assets	$ 6,600
Current portion, operating lease liabilities	1,244
Operating lease liabilities, net of current portion	7,286
Total operating lease liabilities	8,530
Property, plant and equipment, net	856
Other current liabilities	317
Total finance lease liabilities	317
Property, plant and equipment, net [Member]
Lessee Lease Description [Line Items]
Property, plant and equipment, net	$ 856

Leases (Schedule of Maturities

Leases (Schedule of Maturities of Operating Lease Liabilities in Accordance With ASC 842) (Details) $ in Thousands	Jun. 30, 2019USD ($)
Leases [Abstract]
Operating Leases, Remainder of 2019	$ 1,269
Operating Leases, 2020	2,450
Operating Leases, 2021	2,262
Operating Leases, 2022	2,313
Operating Leases, 2023	1,864
Operating Leases, Thereafter	3,852
Operating Leases, Total	14,010
Operating Leases, Less imputed interest	(5,480)
Operating Leases, Present value of lease liabilities	8,530
Finance leases, Remainder of 2019	209
Finance leases, 2020	159
Finance leases, Total	368
Finance leases, Less imputed interest	(51)
Finance leases, Present value of lease liabilities	317
Expected sublease receipts, Remainder of 2019	(280)
Expected sublease receipts, 2020	(578)
Expected sublease receipts, Total	(858)
Net future lease commitments, Remainder of 2019	1,198
Net future lease commitments, 2020	2,031
Net future lease commitments, 2021	2,262
Net future lease commitments, 2022	2,313
Net future lease commitments, 2023	1,864
Net future lease commitments, Thereafter	3,852
Net future lease commitments, Total	$ 13,520

Leases (Schedule of Weighted-Av

Leases (Schedule of Weighted-Average Remaining Lease Terms and Discount Rates Related to Operating Leases) (Details)	Jun. 30, 2019
Leases [Abstract]
Weighted average remaining lease term (in years)	6 years 1 month 6 days
Weighted average discount rate	16.40%

Leases (Schedule of Future Mini

Leases (Schedule of Future Minimum Commitments Under Facility Leases in Accordance With ASC 840) (Details) $ in Thousands	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 2,499
2020	2,279
2021	1,874
2022	1,915
2023	1,457
Thereafter	928
Total	$ 10,952