Intercept Pharmaceuticals (ICPT) 10-Q 1 Nov 22 2022 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information	9 Months Ended
	Sep. 30, 2022 shares
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2022
Entity File Number	001-35668
Entity Registrant Name	INTERCEPT PHARMACEUTICALS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-3868459
Entity Address, Address Line One	305 Madison Avenue,
Entity Address, City or Town	Morristown
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07960
City Area Code	646
Local Phone Number	747-1000
Title of 12(b) Security	Common Stock
Trading Symbol	ICPT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	41,417,127
Entity Central Index Key	0001270073
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 113,195	$ 84,709
Restricted cash	6,981	8,119
Investment debt securities, available-for-sale	377,656	334,980
Accounts receivable, net of allowance for credit losses of $58 and $58, respectively	26,168	28,337
Prepaid expenses and other current assets	21,370	21,735
Current assets of discontinued operations	0	30,138
Total current assets	545,370	508,018
Fixed assets, net	1,276	3,281
Inventory	6,274	7,883
Security deposits	1,125	4,284
Other assets	5,359	3,557
Total assets	559,404	527,023
Current liabilities:
Accounts payable, accrued expenses and other liabilities	109,888	103,780
Short-term interest payable	2,244	8,601
Current portion of long-term debt	109,452	0
Current liabilities of discontinued operations	0	55,780
Total current liabilities	221,584	168,161
Long-term liabilities:
Long-term debt	222,856	539,782
Long-term other liabilities	7,288	3,042
Total liabilities	451,728	710,985
Commitments and contingencies (Note 16)
Stockholders' equity (deficit):
Common stock par value $0.001 per share; 90,000,000 shares authorized; 41,417,127 and 29,572,953 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively	41	30
Additional paid-in capital	2,231,667	2,308,653
Accumulated other comprehensive loss, net	(7,969)	(2,873)
Accumulated deficit	(2,116,063)	(2,489,772)
Total stockholders' equity (deficit)	107,676	(183,962)
Total liabilities and stockholders' equity (deficit)	$ 559,404	$ 527,023

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Condensed Consolidated Balance Sheets
Allowance for credit losses	$ 58	$ 58
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized	90,000,000	90,000,000
Common stock, shares, issued	41,417,127	29,572,953
Common stock, shares, outstanding	41,417,127	29,572,953

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue	$ 77,588	$ 66,640	$ 208,491	$ 192,117
Operating expenses:
Cost of sales	424	224	956	771
Selling, general and administrative	43,274	41,271	121,013	130,255
Research and development	44,034	44,712	136,753	132,991
Restructuring	0	0	0	(284)
Total operating expenses	87,732	86,207	258,722	263,733
Operating loss	(10,144)	(19,567)	(50,231)	(71,616)
Other (expense) income:
Interest expense	(5,237)	(14,095)	(18,579)	(39,103)
(Loss) gain on extinguishment of debt	(91,759)	16,511	(91,739)	16,511
Other income, net	3,053	210	2,691	2,389
Total other (expense) income, net	(93,943)	2,626	(107,627)	(20,203)
Loss from continuing operations	(104,087)	(16,941)	(157,858)	(91,819)
Income from discontinued operations, net of income taxes	371,540	13,309	400,499	36,673
Net income (loss)	$ 267,453	$ (3,632)	$ 242,641	$ (55,146)
Net income (loss) per common and potential common share (basic and diluted):
Net loss from continuing operations, Basic (in dollars per share)	$ (3.04)	$ (0.53)	$ (5.05)	$ (2.81)
Net loss from continuing operations, Diluted (in dollars per share)	(3.04)	(0.53)	(5.05)	(2.81)
Net income from discontinued operations, Basic (in dollars per share)	10.83	0.42	12.81	1.12
Net income from discontinued operations, Diluted (in dollars per share)	10.83	0.42	12.81	1.12
Net Income (loss), Basic (in dollars per share)	7.80	(0.11)	7.76	(1.69)
Net Income (loss), Diluted (in dollars per share)	$ 7.80	$ (0.11)	$ 7.76	$ (1.69)
Weighted average common and potential common shares outstanding:
Basic (in shares)	34,293	31,736	31,262	32,679
Diluted (in shares)	34,293	31,736	31,262	32,679
Product
Revenue	$ 77,588	$ 66,640	$ 208,491	$ 192,117

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Condensed Consolidated Statements of Comprehensive Income (Loss)
Net income (loss)	$ 267,453	$ (3,632)	$ 242,641	$ (55,146)
Net changes related to available-for-sale investment debt securities:
Unrealized losses on investment debt securities	(670)	(171)	(2,196)	(538)
Reclassification adjustment for realized gains on investment debt securities included in other income, net	0	0		2
Net unrealized losses on investment debt securities	(670)	(171)	(2,196)	(536)
Release of currency translation adjustments associated with sale of business	(7,319)	0	(7,319)
Foreign currency translation gains	2,568	72	4,419	49
Other comprehensive income loss	(5,421)	(99)	(5,096)	(487)
Comprehensive income (loss)	$ 262,032	$ (3,731)	$ 237,545	$ (55,633)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-In Capital Cumulative effect, period of adoption, adjustment	Additional Paid-In Capital	Accumulated Other Comprehensive Loss, Net	Accumulated Deficit Cumulative effect, period of adoption, adjustment	Accumulated Deficit	Cumulative effect, period of adoption, adjustment	Total
Balance at Dec. 31, 2020	$ 33		$ 2,233,937	$ (2,477)		$ (2,398,346)		$ (166,853)
Balance (in shares) at Dec. 31, 2020	33,016
Stock-based compensation			25,483					25,483
Repurchase of common stock	$ (4)		(75,821)					(75,825)
Repurchase of common stock, shares	(4,522)
Extinguishment of allocated costs related to exchange of convertible notes			(37,213)					(37,213)
Extinguishment of allocated costs related to repurchase of convertible notes			(1,933)					(1,933)
Bifurcation of conversion option upon issuance of convertible notes, net of issuance costs			147,458					147,458
Issuance of common stock for services	$ 1		9,999					10,000
Issuance of common stock for services (in shares)	770
Proceeds from capped call transactions			57					57
Issuance of common stock under equity plan			18					18
Issuance of common stock under equity plan (in shares)	353
Employee withholding taxes related to stock-based awards			(1,589)					(1,589)
Employee withholding taxes related to stock-based awards, (in shares)	(70)
Other comprehensive loss				(487)				(487)
Net income (loss)						(55,146)		(55,146)
Balance at Sep. 30, 2021	$ 30		2,300,396	(2,964)		(2,453,492)		(156,030)
Balance (in shares) at Sep. 30, 2021	29,547
Balance at Jun. 30, 2021	$ 33		2,249,497	(2,865)		(2,449,860)		(203,195)
Balance (in shares) at Jun. 30, 2021	33,201
Stock-based compensation			8,616					8,616
Repurchase of common stock	$ (4)		(75,821)					(75,825)
Repurchase of common stock, shares	(4,522)
Extinguishment of allocated costs related to exchange of convertible notes			(37,213)					(37,213)
Extinguishment of allocated costs related to repurchase of convertible notes			(1,933)					(1,933)
Bifurcation of conversion option upon issuance of convertible notes, net of issuance costs			147,458					147,458
Issuance of common stock for services	$ 1		9,999					10,000
Issuance of common stock for services (in shares)	770
Proceeds from capped call transactions			57					57
Issuance of common stock under equity plan (in shares)	112
Employee withholding taxes related to stock-based awards			(264)					(264)
Employee withholding taxes related to stock-based awards, (in shares)	(14)
Other comprehensive loss				(99)				(99)
Net income (loss)						(3,632)		(3,632)
Balance at Sep. 30, 2021	$ 30		2,300,396	(2,964)		(2,453,492)		(156,030)
Balance (in shares) at Sep. 30, 2021	29,547
Balance at Dec. 31, 2021	$ 30		2,308,653	(2,873)		(2,489,772)		(183,962)
Balance (in shares) at Dec. 31, 2021	29,573
Stock-based compensation			21,052					21,052
Issuance of common stock under equity plan (in shares)	520
Employee withholding taxes related to stock-based awards			(480)					(480)
Employee withholding taxes related to stock-based awards, (in shares)	(35)
Net proceeds from exercise of stock options			433					$ 433
Net proceeds from exercise of stock options (in shares)	29							29
Issuance of common stock for repurchase of convertible notes	$ 11		209,380					$ 209,391
Issuance of common stock for repurchase of convertible notes (shares)	11,330
Other comprehensive loss				(5,096)				(5,096)
Net income (loss)						242,641		242,641
Balance at Sep. 30, 2022	$ 41	$ (307,371)	2,231,667	(7,969)	$ 131,068	(2,116,063)	$ (176,303)	107,676
Balance (in shares) at Sep. 30, 2022	41,417
Balance at Jun. 30, 2022	$ 30		2,016,201	(2,548)		(2,383,516)		(369,833)
Balance (in shares) at Jun. 30, 2022	29,798
Stock-based compensation			5,788					5,788
Issuance of common stock under equity plan (in shares)	269
Employee withholding taxes related to stock-based awards			(135)					(135)
Employee withholding taxes related to stock-based awards, (in shares)	(9)
Net proceeds from exercise of stock options			433					433
Net proceeds from exercise of stock options (in shares)	29
Issuance of common stock for repurchase of convertible notes	$ 11		209,380					209,391
Issuance of common stock for repurchase of convertible notes (shares)	11,330
Other comprehensive loss				(5,421)				(5,421)
Net income (loss)						267,453		267,453
Balance at Sep. 30, 2022	$ 41	$ (307,371)	$ 2,231,667	$ (7,969)	$ 131,068	$ (2,116,063)	$ (176,303)	$ 107,676
Balance (in shares) at Sep. 30, 2022	41,417

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income (loss)	$ 242,641	$ (55,146)
Less: Income from operations of discontinued operations, net of tax	400,499	36,673
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Stock-based compensation	16,658	20,881
Amortization of premium on investment debt securities	716	3,384
Amortization of deferred financing costs	2,242	1,990
Write-off of fixed assets	2,400
Depreciation	491	2,430
Non-cash operating lease cost	1,435	3,541
Accretion of debt discount		21,885
Loss (gain) on early extinguishment of debt	91,739	(16,511)
Gain on lease termination	(1,101)
Provision for allowance on credit losses		(8)
Changes in operating assets:
Accounts receivable	2,169	(518)
Prepaid expenses and other current assets	442	648
Inventory	232	190
Security deposits	3,157	345
Other assets	32
Changes in operating liabilities:
Accounts payable, accrued expenses and other current liabilities	13,791	(26,003)
Operating lease liabilities	(1,479)	(4,550)
Interest payable	(6,357)	(2,021)
Net cash used in operating activities - continuing operations	(31,291)	(86,136)
Net cash provided by operating activities - discontinued operations	9,317	39,895
Net cash used in operating activities	(21,974)	(46,241)
Cash flows from investing activities:
Purchases of investment debt securities	(401,069)	(278,438)
Sales and maturities of investment debt securities	355,485	334,233
Purchases of equipment, leasehold improvements, and furniture and fixtures	(865)	(397)
Net cash (used in) provided by investing activities - continuing operations	(46,449)	55,398
Net cash provided by investing activities - discontinued operations	363,233
Net cash provided by investing activities	316,784	55,398
Cash flows from financing activities:
Payments for repurchases of convertible senior notes	(261,562)	57
Proceeds from exercise of options, net	433	18
Payments of employee withholding taxes related to stock-based awards	(480)	(1,589)
Payments of debt issuance costs	(35)
Payments for repurchase of common stock		(75,825)
Proceeds from issuance of Notes		117,551
Proceeds from terminations of capped call options		(38,129)
Net cash (used in) provided by financing activities - continuing operations	(261,644)	2,083
Net cash (used in) provided by financing activities	(261,644)	2,083
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(7,399)	71
Net increase in cash, cash equivalents and restricted cash	25,767	11,311
Cash, cash equivalents and restricted cash at beginning of period	94,409	65,654
Cash, cash equivalents and restricted cash at end of period	120,176	76,965
Less: Cash, cash equivalents and restricted cash of discontinued operations		1,622
Cash, cash equivalents and restricted cash of continuing operations	$ 120,176	$ 75,343

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Supplemental disclosure of non-cash transactions:
Right-of-use asset obtained in exchange for new operating lease obligations	$ (5,654)
Non-cash investing and financing activities
Net increase in accrued fixed assets	21
Reconciliation of cash, cash equivalents and restricted cash included in the condensed consolidated balance sheets:
Cash and cash equivalents	113,195	$ 68,329
Restricted cash	6,981	7,014
Total cash, cash equivalents and restricted cash	120,176	75,343
Supplemental non-cash disclosure:
Issuance of common stock to noteholders in connection with repurchase of convertible notes	209,391
Exchange for existing 2023 and 2026 convertible notes		(421,200)
Exchange for new 2026 secured convertible notes		382,400
Issuance of common stock to financial advisor in connection with convertible notes exchange		10,000
Recognition of conversion option upon issuance of 2026 secured convertible notes		150,704
Extinguishment of conversion options upon exchange and repurchase of 2023 convertible notes and exchange of 2026 convertible notes		$ (39,146)
Supplementary cash flow data:
Income taxes paid	$ 455

Overview of Business

Overview of Business	9 Months Ended
	Sep. 30, 2022
Overview of Business
Overview of Business	1. Overview of Business Intercept Pharmaceuticals, Inc. (the “Company”) is a biopharmaceutical company founded in 2002 and focused on the development and commercialization of novel therapeutics to treat progressive non-viral liver diseases, including primary biliary cholangitis (“PBC”) and nonalcoholic steatohepatitis (“NASH”). The Company currently has one marketed product, Ocaliva (obeticholic acid or “OCA”). ​ On May 5, 2022, the Company entered into a series of agreements to sell the Company’s ex-U.S. commercial operations and sublicense the right to commercialize Ocaliva for PBC and, if approved, OCA for NASH outside of the United States to Advanz Pharma and its affiliates (collectively, “Advanz”) (the “Disposition Transaction”). Consideration under the agreements totaled $405 million up front, subject to adjustments including for cash, working capital, and assumed liabilities. On July 1, 2022, the Company completed the Disposition Transaction. ​ The Company is entitled to receive an additional $45 million from Advanz contingent upon receipt of extensions of orphan exclusivity for Ocaliva from the European Medicines Agency (“EMA”) and Medicines and Healthcare products Regulatory Agency (“MHRA”).

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Basis of Presentation
Basis of Presentation	2. Basis of Presentation The Company’s financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All intercompany balances and transactions have been eliminated in consolidation. Certain information that is normally required by U.S. GAAP has been condensed or omitted in accordance with rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Operating results for the three and nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for any future period or for the year ending December 31, 2022. In the opinion of management, these unaudited condensed consolidated financial statements include all normal and recurring adjustments considered necessary for a fair presentation of these interim unaudited condensed consolidated financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the year ended December 31, 2021, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC. Reclassifications ​ Certain amounts in prior periods have been reclassified to reflect the impact of the discontinued operations treatment in order to conform to the current period presentation. ​ Use of Estimates The preparation of these unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Summary of Significant Accounting Policiies
Summary of Significant Accounting Policies	3. Summary of Significant Accounting Policies held for sale assets and liabilities and discontinued operations under ASC 205-20, Presentation of Financial Statements: Discontinued Operations Earnings per Share ​ Held for Sale and Discontinued Operations Assets and liabilities of a group of components of an entity are classified as held for sale when all of the following criteria for a plan of sale have been met: (1) management, having the authority to approve the action, commits to a plan to sell the entities to be sold; (2) the entities to be sold are available for immediate sale, in their present condition, subject only to terms that are usual and customary for sales of such entities to be sold; (3) an active program to locate a buyer and other actions required to complete the plan to sell the entities have been initiated; (4) the sale of the entities is probable and is expected to be completed within one year; (5) the entities are being actively marketed for a price that is reasonable in relation to their current fair value; and (6) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or the plan will be withdrawn. ​ Components of an entity that are classified as held for sale and have operations and cash flows that can be clearly distinguished from the rest of the entity are required to be reported as assets and liabilities held for sale. A disposal of a group of components that is classified as held for sale is reported as discontinued operations if the disposal represents a strategic shift that has and will have a major effect on our operations and financial results. ​ ​ The Company accounts for contingent consideration received as a gain contingency, and recognizes such contingent consideration when it is realized or realizable, once the contingency is resolved. ​ Additional details surrounding the Company's assets and liabilities classified as discontinued operations are included in Note 4. ​ Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”), which simplifies the accounting for convertible instruments by eliminating the requirement to separately account for embedded conversion features as an equity component in certain circumstances. A convertible debt instrument will be reported as a single liability instrument with no separate accounting for an embedded conversion feature unless separate accounting is required for an embedded conversion feature as a derivative or under the substantial premium model. The ASU simplifies the diluted earnings per share calculation by requiring that an entity use the if-converted method and that the effect of potential share settlement be included in diluted earnings per share calculations. Further, the ASU requires enhanced disclosures about convertible instruments. The Company adopted ASU 2020-06 on January 1, 2022 using the modified retrospective method. Upon adoption at January 1, 2022, the Company made certain adjustm ents in its condensed consolidated balance sheets which consisted of an increase of $176.3 million in Long-term debt, a net decreas e of $307.4 million in Additional paid-in capital and a net decrease of $131.1 million in Accumulated deficit resulting from the reversal of previously recognized non-cash interest expense. After adoption, the Company accounts for the Convertible Notes entirely as liabilities measured at amortized cost. The Company did not elect the fair value option. Additionally, the Company will no longer incur non-cash interest expense for the amortization of debt discount related to the previously separated equity components. The Company will apply the if-converted methodology in computing diluted earnings per share if and when profitability is achieved. ​ The following table summarizes the adjustments made to the Company’s condensed consolidated balance sheet as of January 1, 2022 as a result of applying the modified retrospective method in adopting ASU 2020-06: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As Reported ​ ASU 2020-06 ​ ​ As Adjusted ​ ​ ​ December 31, 2021 ​ ​ Adjustments ​ ​ January 1, 2022 ​ ​ (in thousands) Convertible Notes ​ $ 539,782 ​ $ 176,303 ​ $ 716,085 Additional paid-in capital ​ $ 2,308,653 ​ $ (307,371) ​ $ 2,001,282 Accumulated deficit ​ $ (2,489,772) ​ $ 131,068 ​ $ (2,358,704) ​ Under the modified retrospective method, comparative prior periods are not adjusted.

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2022
Discontinued Operations
Discontinued Operations	4. Discontinued Operations On May 5, 2022, the Company entered into the Disposition Transaction. Consideration under the agreements totaled $405 million up front, subject to adjustments including for cash, working capital, and assumed liabilities. The Company is entitled to receive an additional cumulative $45 million from Advanz contingent upon receipt of extensions of orphan drug exclusivity from the EMA and MHRA. The Company will also receive royalties on any future net sales of OCA in NASH outside of the U.S., should Advanz obtain marketing authorization for this indication in ex-U.S. regions. The Company continues to be responsible for the manufacturing and supply of OCA globally while Advanz is responsible for packaging, distribution and commercialization of the therapy in all markets outside of the U.S. In addition, the Company will be responsible for any difference between the cumulative rebate estimated for France for periods prior to July 1, 2022 and the amount agreed through final negotiations with the French government. Under the Sublicense Agreement, we agreed to continue to conduct certain post-marketing work and other activities with respect to Ocaliva for PBC, including continuing to conduct certain PBC studies (the “PBC Post-Marketing Work”). The Company will be reimbursed by Advanz for a portion of the total R&D costs related to the PBC Post-Marketing Work. ​ ​ ​ total amount recognized as a reduction to Research & development expenses for a portion of the total R&D costs to be reimbursed by Advanz in relation to the PBC Post-Marketing Work was $3.1 million for the three and nine months ended September 30, 2022. Cash inflows were $1.4 million for the three and nine months ended September 30, 2022 under the TSA and Sublicense Agreement. ​ ​ ​ ​ The following table presents the carrying amounts of the classes of assets and liabilities related to the discontinued operations as of September 30, 2022 and December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 ​ December 31, 2021 Restricted cash ​ $ — ​ $ 1,581 Accounts receivable, net of allowance for credit losses ​ — ​ 19,280 Prepaid expenses and other current assets ​ ​ — ​ ​ 3,551 Fixed assets, net ​ ​ — ​ ​ 96 Inventory ​ ​ — ​ ​ 736 Security deposits ​ ​ — ​ ​ 2,332 Other assets ​ ​ — ​ ​ 2,562 Total assets classified as discontinued operations in condensed consolidated balance sheets ​ $ — ​ $ 30,138 ​ ​ ​ ​ ​ ​ ​ Accounts payable, accrued expenses and other liabilities ​ $ — ​ $ 54,436 Long-term other liabilities ​ ​ — ​ ​ 1,344 Total liabilities classified as discontinued operations in condensed consolidated balance sheets ​ $ — ​ $ 55,780 ​ As of September 30, 2022, there were no assets or liabilities ​ The following table presents the results of operations related to the discontinued operations for the three and nine months ended September 30, 2022 and 2021 respectively: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, ​ 2022 2021 2022 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product revenue, net ​ $ — ​ $ 26,187 ​ $ 58,065 ​ $ 78,947 Cost of sales ​ 169 ​ 434 ​ 1,194 ​ 1,315 Selling, general and administrative ​ 636 ​ 12,068 ​ 28,083 ​ 40,011 Research and development ​ 4 ​ 335 ​ 255 ​ 614 Restructuring ​ ​ — ​ ​ 3 ​ ​ — ​ ​ 198 Other (expense) income, net ​ (7) ​ (38) ​ (390) ​ (136) (Loss) income from discontinued operations ​ $ (816) ​ $ 13,309 ​ $ 28,143 ​ $ 36,673 Gain on the sale of the ex-U.S. commercial operations and sublicense ​ ​ 380,356 ​ ​ — ​ ​ 380,356 ​ ​ — Income from discontinued operations, pre-tax ​ $ 379,540 ​ $ 13,309 ​ $ 408,499 ​ $ 36,673 Income tax expense ​ ​ (8,000) ​ ​ — ​ ​ (8,000) ​ ​ — Income from discontinued operations, net of tax ​ $ 371,540 ​ $ 13,309 ​ $ 400,499 ​ $ 36,673 ​ ​ ​ ​ ​ ​ The following table presents the calculation of the gain on sale related to the discontinued operations for the three and nine months ended September 30, 2022. ​ ​ ​ ​ ​ ​ ​ September 30, 2022 Proceeds from sale of business ​ $ 366,500 Transaction costs ​ ​ (9,901) Carrying value of net liabilities sold ​ ​ 25,918 Working capital adjustments ​ ​ (7,153) Release of accumulated currency translation adjustments for disposed subsidiaries ​ ​ 7,319 Supply & manufacturing agreement liability ​ ​ (2,327) Gain on sale, pre-tax ​ ​ 380,356 Income tax expense ​ ​ (8,000) Gain on sale, net of tax ​ $ 372,356 ​ The following table presents the net cash provided by operating activities for the assets and liabilities classified as discontinued operations for the nine months ended September 30, 2022 and 2021 respectively: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ 2022 2021 Net income from discontinued operations $ 400,499 $ 36,673 ​ ​ ​ ​ ​ ​ ​ Adjustment of non-cash activities ​ ​ 4,937 ​ ​ 5,562 Decrease (increase) in accounts receivable ​ ​ 18,235 ​ ​ (4,881) Decrease in prepaid expenses and other current assets ​ ​ 3,746 ​ ​ 2,003 Decrease (increase) in inventory ​ ​ 242 ​ ​ (23) Decrease in security deposits ​ ​ 2,191 ​ ​ — Decrease in operating lease liabilities ​ ​ (386) ​ ​ (802) (Decrease) increase in accounts payable, accrued expenses and other current liabilities ​ ​ (53,647) ​ ​ 1,363 Reclassification of cash proceeds from sale of business to investing activities ​ ​ (366,500) ​ ​ — Net cash provided by operating activities ​ $ 9,317 ​ $ 39,895 ​ ​ ​ ​ ​ ​ ​ Proceeds from sale of business, net of cash ​ ​ 363,233 ​ ​ — Net cash provided by investing activities ​ $ 363,233 ​ $ — ​

Cash, Cash Equivalents and Inve

Cash, Cash Equivalents and Investment Debt Securities	9 Months Ended
	Sep. 30, 2022
Cash, Cash Equivalents and Investment Debt Securities
Cash, Cash Equivalents and Investment Debt Securities	​ 5. Cash, Cash Equivalents and Investment Debt Securities The following table summarizes the Company’s cash, cash equivalents and investment debt securities as of September 30, 2022 and December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2022 ​ ​ ​ ​ ​ Allowance ​ Gross ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ for Credit ​ Unrealized ​ Unrealized ​ ​ ​ ​ Amortized Cost ​ Losses Gains Losses Fair Value ​ ​ (in thousands) Cash and cash equivalents: ​ ​ ​ ​ ​ ​ ​ Cash and money market funds ​ $ 95,225 ​ $ — ​ $ — ​ $ — ​ $ 95,225 Commercial paper ​ ​ 13,977 ​ ​ — ​ ​ — ​ ​ (4) ​ ​ 13,973 Corporate debt securities ​ ​ 3,997 ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,997 Total cash and cash equivalents ​ ​ 113,199 ​ ​ — ​ ​ — ​ ​ (4) ​ ​ 113,195 Investment debt securities: ​ ​ ​ ​ ​ Commercial paper ​ 108,091 ​ — ​ — ​ ​ (254) ​ 107,837 Corporate debt securities ​ 245,321 ​ — ​ ​ — ​ ​ (2,018) ​ 243,303 U.S. government agency bonds ​ ​ 11,751 ​ ​ — ​ ​ 1 ​ ​ (117) ​ ​ 11,635 U.S. Treasury securities ​ ​ 14,965 ​ ​ — ​ ​ — ​ ​ (84) ​ ​ 14,881 Total investment debt securities ​ 380,128 ​ — ​ 1 ​ (2,473) ​ 377,656 Total cash, cash equivalents and investment debt securities ​ $ 493,327 ​ $ — ​ $ 1 ​ $ (2,477) ​ $ 490,851 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ ​ ​ ​ ​ Allowance ​ Gross ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ for Credit ​ Unrealized ​ Unrealized ​ ​ ​ ​ Amortized Cost ​ Losses Gains Losses ​ Fair Value ​ ​ (in thousands) ​ ​ ​ Cash and cash equivalents: ​ ​ ​ ​ ​ ​ ​ Cash and money market funds ​ $ 76,709 ​ $ — ​ $ — ​ $ — ​ $ 76,709 Commercial paper ​ ​ 8,000 ​ ​ — ​ ​ — ​ ​ — ​ ​ 8,000 Total cash and cash equivalents ​ ​ 84,709 ​ ​ — ​ ​ — ​ ​ — ​ ​ 84,709 Investment debt securities: ​ ​ ​ ​ ​ Commercial paper ​ 84,513 ​ — ​ — ​ (49) ​ 84,464 Corporate debt securities ​ 232,721 ​ — ​ ​ 16 ​ (245) ​ 232,492 Municipal bonds ​ ​ 5,028 ​ ​ — ​ ​ — ​ ​ (1) ​ ​ 5,027 U.S. Treasury securities ​ ​ 12,998 ​ ​ — ​ ​ — ​ ​ (1) ​ ​ 12,997 Total investment debt securities ​ 335,260 ​ — ​ 16 ​ (296) ​ 334,980 Total cash, cash equivalents and investment debt securities ​ $ 419,969 ​ $ — ​ $ 16 ​ $ (296) ​ $ 419,689 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The aggregate fair value of the Company’s available-for-sale investment debt securities that have been in a continuous unrealized loss position for less than twelve months or twelve months or longer is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2022 ​ ​ Less than 12 months ​ 12 months or longer ​ Total ​ ​ (in thousands) ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ ​ ​ ​ Unrealized ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ Fair Value Losses Fair Value Losses Fair Value Losses Commercial paper ​ $ 107,837 ​ $ (254) ​ $ — ​ $ — ​ $ 107,837 ​ $ (254) Corporate debt securities ​ ​ 224,195 ​ ​ (1,906) ​ ​ 19,110 ​ ​ (111) ​ ​ 243,305 ​ ​ (2,017) U.S. government agency bonds ​ ​ 10,383 ​ ​ (118) ​ ​ — ​ ​ — ​ ​ 10,383 ​ ​ (118) U.S. Treasury securities ​ ​ 14,881 ​ ​ (84) ​ ​ — ​ ​ — ​ ​ 14,881 ​ ​ (84) Total ​ $ 357,296 ​ $ (2,362) ​ $ 19,110 ​ $ (111) ​ $ 376,406 ​ $ (2,473) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ ​ Less than 12 months ​ 12 months or longer ​ Total ​ ​ (in thousands) ​ ​ ​ ​ Gross ​ ​ Gross ​ ​ Gross ​ ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ Fair Value Losses Fair Value Losses Fair Value Losses Commercial paper ​ $ 81,464 ​ $ (49) ​ $ — ​ $ — ​ $ 81,464 ​ $ (49) Corporate debt securities ​ ​ 196,120 ​ ​ (245) ​ ​ — ​ ​ — ​ 196,120 ​ (245) Municipal bonds ​ ​ 5,027 ​ ​ (1) ​ ​ — ​ ​ — ​ ​ 5,027 ​ ​ (1) U.S. Treasury securities ​ ​ 12,997 ​ ​ (1) ​ ​ — ​ ​ — ​ ​ 12,997 ​ ​ (1) Total ​ $ 295,608 ​ $ (296) ​ $ — ​ $ — ​ $ 295,608 ​ $ (296) ​ ​

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Measurements
Fair Value Measurements	6. Fair Value Measurements The carrying amounts of the Company’s receivables and payables approximate their fair value due to their short maturities. Accounting principles provide guidance for using fair value to measure assets and liabilities. The guidance includes a three-level hierarchy of valuation techniques used to measure fair value, defined as follows: ● Unadjusted Quoted Prices — The fair value of an asset or liability is based on unadjusted quoted prices in active markets for identical assets or liabilities (Level 1). ● Pricing Models with Significant Observable Inputs — The fair value of an asset or liability is based on information derived from either an active market quoted price, which may require further adjustment based on the attributes of the financial asset or liability being measured, or an inactive market transaction (Level 2). ● Pricing Models with Significant Unobservable Inputs — The fair value of an asset or liability is primarily based on internally derived assumptions surrounding the timing and amount of expected cash flows for the financial instrument. Therefore, these assumptions are unobservable in either an active or inactive market (Level 3). The Company considers an active market as one in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Conversely, the Company views an inactive market as one in which there are few transactions for the asset or liability, the prices are not current, or price quotations vary substantially either over time or among market makers. Where appropriate, non-performance risk, or that of a counterparty, is considered in determining the fair values of liabilities and assets, respectively. The Company’s cash deposits, money market funds and U.S. Treasury securities are classified within Level 1 of the fair value hierarchy because they are valued using bank balances or quoted prices from active markets. Commercial paper, corporate debt securities, and U.S. government agency bonds are classified as Level 2 instruments based on market pricing and other observable inputs. Financial assets carried at fair value are classified in the tables below in one of the three categories described above: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using ​ Total Level 1 Level 2 Level 3 ​ ​ (in thousands) September 30, 2022 ​ ​ ​ ​ Assets ​ ​ ​ ​ Cash and cash equivalents: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds ​ $ 80,977 ​ $ 80,977 ​ $ — ​ $ — Commercial paper ​ ​ 13,973 ​ ​ — ​ ​ 13,973 ​ ​ — Corporate debt securities ​ ​ 3,997 ​ ​ — ​ ​ 3,997 ​ ​ — Available-for-sale investment debt securities: ​ ​ ​ ​ ​ ​ ​ Commercial paper ​ 107,837 ​ — ​ 107,837 ​ — Corporate debt securities ​ 243,303 ​ — ​ 243,303 ​ — U.S. government agency bonds ​ ​ 11,635 ​ ​ — ​ ​ 11,635 ​ ​ — U.S. Treasury securities ​ ​ 14,881 ​ ​ 14,881 ​ ​ — ​ ​ — Total financial assets ​ $ 476,603 ​ $ 95,858 ​ $ 380,745 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ Assets ​ ​ ​ ​ Cash and cash equivalents: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds ​ $ 39,287 ​ $ 39,287 ​ $ — ​ $ — Commercial paper ​ ​ 8,000 ​ ​ — ​ ​ 8,000 ​ ​ — Available-for-sale investment debt securities: ​ ​ ​ ​ ​ ​ ​ Commercial paper ​ 84,464 ​ — ​ 84,464 ​ — Corporate debt securities ​ 232,492 ​ — ​ 232,492 ​ — Municipal bonds ​ ​ 5,027 ​ ​ — ​ ​ 5,027 ​ ​ — U.S. Treasury securities ​ ​ 12,997 ​ ​ 12,997 ​ ​ — ​ ​ — Total financial assets ​ $ 382,267 ​ $ 52,284 ​ $ 329,983 ​ $ — ​ See Note 10 for the carrying amounts and estimated fair values of the Company’s 3.50% Convertible Senior Secured Notes due 2026 (“2026 Convertible Secured Notes”), and The aggregate fair value of all available-for-sale investment debt securities (commercial paper, corporate debt securities, U.S. government agency bonds, municipal bonds and U.S. Treasury securities), by contractual maturity, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value as of ​ September 30, 2022 December 31, 2021 ​ ​ (in thousands) Due in one year or less ​ $ 336,422 ​ $ 305,914 Due after one year through two years ​ 41,234 ​ 29,066 Total investment debt securities ​ $ 377,656 ​ $ 334,980 ​ Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without call or prepayment penalties.

Fixed Assets, Net

Fixed Assets, Net	9 Months Ended
	Sep. 30, 2022
Fixed Assets, Net
Fixed Assets, Net	7. Fixed Assets, Net Fixed assets are stated at cost and depreciated or amortized using the straight-line method based on useful lives as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Useful lives ​ ​ ​ ​ ​ ​ ​ (Years) September 30, 2022 December 31, 2021 ​ ​ ​ ​ (in thousands) Office equipment and software 3 ​ $ 3,036 ​ $ 4,751 Leasehold improvements Shorter of remaining lease term or useful life ​ 669 ​ 12,884 Furniture and fixtures 7 ​ 1,280 ​ 3,772 Subtotal ​ ​ ​ 4,985 ​ 21,407 Less: accumulated depreciation ​ ​ ​ (3,709) ​ (18,126) Fixed assets, net ​ ​ ​ $ 1,276 ​ $ 3,281 ​

Inventory

Inventory	9 Months Ended
	Sep. 30, 2022
Inventory
Inventory	8. Inventory Inventories are stated at the lower of cost or market. Inventories consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 December 31, 2021 ​ ​ (in thousands) Work-in-process ​ $ 6,113 ​ $ 7,801 Finished goods ​ 161 ​ 82 Inventory ​ $ 6,274 ​ $ 7,883 ​

Accounts Payable, Accrued Expen

Accounts Payable, Accrued Expenses and Other Liabilities	9 Months Ended
	Sep. 30, 2022
Accounts Payable, Accrued Expenses and Other Liabilities
Accounts Payable, Accrued Expenses and Other Liabilities	9. Accounts Payable, Accrued Expenses and Other Liabilities Accounts payable, accrued expenses and other liabilities consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 December 31, 2021 ​ ​ (in thousands) Accounts payable ​ $ 21,303 ​ $ 17,598 Accrued employee compensation ​ 19,533 ​ 20,845 Accrued contracted services ​ 45,745 ​ 51,136 Accrued rebates, returns, discounts and other incentives ​ ​ 14,491 ​ ​ 11,626 Accrued income taxes payable (see Note 14) ​ ​ 7,380 ​ ​ — Other liabilities ​ ​ 1,436 ​ ​ 2,575 Accounts payable, accrued expenses and other liabilities ​ $ 109,888 ​ $ 103,780 ​ ​ Research & Development Tax Credit ​ The Company has benefited from the U.K. Small and Medium-sized Enterprise R&D Tax Credit scheme, or the SME scheme, under which it can obtain a tax credit of up to 33.4% of eligible research and development expenses incurred by the Company in the U.K. Eligible expenses generally include employment costs for research staff, consumables, software and certain internal overhead costs incurred as part of research projects. ​ The Company has started to benefit from the U.K. Research and Development Expenditure Scheme, or the RDEC scheme, under which it can obtain a tax credit of 12% of eligible research and development expenses incurred by the Company in the U.K. The RDEC scheme is more restrictive than the SME scheme, and generally applies where qualifying R&D expenditure is not eligible for relief under the SME scheme. ​ The Company has submitted claims seeking to obtain tax credits for qualifying R&D expenses incurred in the 2015, 2016, 2017, 2018 and 2019 calendar years. As described further in Note 12, the 2018 RDEC claim was finalized during the quarter ended June 30, 2022, and therefore the $4.0 million net payment received, which was previously deferred, was released into income as a reduction to research & development expenses. ​ With respect to the 2019 RDEC claim, in February 2022, the Company received a payment of $3.8 million from HMRC. Given the claim review has not been finalized for the 2019 year, the $3.8 million credit received along with an additional $0.6 million due to foreign currency translation are recorded as a deferred liability within Accounts payable, accrued expenses, and other liabilities. The Company will be entitled to this benefit based on the terms of the Disposition Transaction.

Current and Long-Term Debt

Current and Long-Term Debt	9 Months Ended
	Sep. 30, 2022
Current and Long-Term Debt
Current and Long-Term Debt	10. Current and Long-Term Debt Debt, net of debt issuance costs and discounts, consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 ​ December 31, 2021 ​ ​ 2026 Convertible Secured Notes ​ 2026 Convertible Notes ​ 2023 Convertible Notes ​ 2026 Convertible Secured Notes ​ 2026 Convertible Notes ​ 2023 Convertible Notes ​ ​ (in thousands) Liability component ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Principal ​ $ 111,143 ​ $ 115,349 ​ $ 109,808 ​ $ 500,000 ​ $ 115,349 ​ $ 113,655 Unamortized debt issuance costs ​ ​ (1,857) ​ ​ (1,778) ​ ​ (356) ​ ​ (7,132) ​ ​ (2,313) ​ ​ (816) Unamortized debt discount ​ ​ — ​ ​ — ​ ​ — ​ ​ (141,303) ​ ​ (30,228) ​ ​ (7,430) Net carrying amount ​ $ 109,286 ​ $ 113,571 ​ $ 109,452 ​ $ 351,565 ​ $ 82,808 ​ ​ 105,409 Equity component, net of issuance costs* ​ ​ — ​ ​ — ​ ​ — ​ $ 147,458 ​ $ 62,841 ​ $ 97,072 ​ *Recorded as a reduction of Additional paid-in capital upon the adoption of ASU 2020-06. ​ As of September 30, 2022, the net carrying amount of the 2023 Convertible Notes is recorded in Current portion of long-term debt. The Company has three series of convertible notes outstanding (together, the “Convertible Notes”). All three series are convertible under certain circumstances into cash, shares of the Company’s common stock, or a combination thereof, at the Company’s election. The 2023 Convertible Notes were issued on July 6, 2016, in the amount of $460.0 million principal, at an interest rate of 3.25%. The Company received net proceeds from their sale of $447.6 million, net of $12.4 million in underwriting discounts, commissions, and estimated offering expenses. The 2026 Convertible Notes were issued on May 14, 2019, in the amount of $230.0 million principal, at an interest rate of 2.00%. The Company received net proceeds from their sale of $223.4 million, net of $6.6 million in underwriting discounts, commissions, and estimated offering expenses. On August 10, 2021, the Company entered into privately negotiated exchange and subscription agreements with a limited number of existing “accredited investors” and “qualified institutional buyers” (as defined under Securities Act rules) holding 2023 Convertible Notes and 2026 Convertible Notes to (1) exchange $306.5 million principal of 2023 Convertible Notes for $292.4 million principal of new notes, (2) exchange $114.7 million principal of 2026 Convertible Notes for $90.0 million principal of new notes, and (3) sell $117.6 million principal of new notes for cash. On August 17, 2021, these new notes were issued as 2026 Convertible Secured Notes in the amount of $500.0 million principal, at an interest rate of 3.50%. The Company received cash proceeds from the sale of notes of approximately $117.6 million. The Company also paid its financial advisor $10.0 million in stock for services rendered, in the amount of 769,823 shares, based on the closing price of $12.99 per share on August 20, 2021. On September 9, 2021, the Company entered into privately negotiated agreements with certain holders of 2023 Convertible Notes to repurchase $39.9 million principal for $38.1 million in cash, which purchase closed on September 14, 2021. On June 1, 2022, the Company entered into an agreement with a certain holder of 2023 Convertible Notes to repurchase $3.8 million principal for $3.8 million in cash, which purchase closed on June 3, 2022. On August 18, September 1, and September 6, 2022, the Company entered into privately negotiated agreements to repurchase $327.9 million, $44.5 million, and $9.3 million of 2026 Convertible Secured Notes, using a combination of cash and equity, which purchases closed on August 25, September 6, and September 8, 2022, respectively. Based on the Company’s closing stock price on the dates of the agreements of $19.70, $18.06, and $16.32, respectively, the shares were worth $184.4 million, $29.9 million, and $5.2 million, respectively. On September 9, 2022, the Company entered into a privately negotiated agreement to repurchase $7.1 million of 2026 Convertible Secured Notes using cash, which purchase closed on September 19, 2022. The Company exchanged the existing 2026 Convertible Secured Notes for $8.2 million in cash. In accordance with Accounting Standards Codification (“ASC”) Subtopic 470-20, “Debt with Conversion and Other Options” (“ASC 470-20”) the repurchases of the 2026 Convertible Secured Notes were all treated as extinguishments of debt. The differences between the reacquisition prices of the debt and the net carrying amounts, resulted in losses on extinguishment of $91.8 million. The approximate fair value of the Convertible Notes was determined as follows using Level 2 inputs based on quoted market values: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 December 31, 2021 ​ ​ (in thousands) 2026 Convertible Secured Notes ​ $ 116,112 ​ $ 543,370 2026 Convertible Notes ​ $ 87,125 ​ $ 69,492 2023 Convertible Notes ​ $ 106,963 ​ $ 107,727 ​ The Note Indentures ​ The 2023 Convertible Notes, and the 2026 Convertible Notes, were each issued pursuant to a Base Indenture, dated as of July 6, 2016, between the Company and U.S. Bank National Association (“U.S. Bank”), as trustee, and a First Supplemental Indenture (with respect to the 2023 Convertible Notes) and Second Supplemental Indenture (with respect to the 2026 Convertible Notes), dated July 6, 2016, and May 14, 2019, respectively, each between the Company and U.S. Bank as trustee. The 2026 Convertible Secured Notes were issued pursuant to a Base Indenture and a First Supplemental Indenture, each dated as of August 17, 2021, between the Company and U.S. Bank as trustee and collateral agent. In connection with the issuance of the 2026 Convertible Secured Notes, the Company also entered into a Security Agreement, dated as of August 17, 2021, with U.S. Bank as collateral agent. Pursuant to these indentures, the 2023 Convertible Notes and 2026 Convertible Notes are senior unsecured obligations, and the 2026 Convertible Secured Notes are senior secured obligations, of the Company. Each indenture provides for customary events of default. Each series of notes bears a fixed rate of interest as identified above, payable semi-annually in arrears: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Semi-annual payment dates ​ ​ First payment date ​ First ​ Second ​ Maturity date* 2026 Convertible Secured Notes ​ February 15, 2022 ​ February 15 ​ August 15 ​ February 15, 2026 2026 Convertible Notes ​ November 15, 2019 ​ May 15 ​ November 15 ​ May 15, 2026 2023 Convertible Notes ​ January 1, 2017 ​ January 1 ​ July 1 ​ July 1, 2023 ​ * Unless earlier repurchased, redeemed, or converted. ​ Each of the three series of notes is convertible under certain circumstances. Prior to January 1, 2023 (for the 2023 Convertible Notes), February 15, 2026 (for the 2026 Convertible Notes), and November 15, 2025 (for the 2026 Convertible Secured Notes), holders may convert their notes only under any of the following circumstances: (i) During any calendar quarter commencing after the calendar quarter ended on September 30, 2016 (for the 2023 Convertible Notes), June 30, 2019 (for the 2026 Convertible Notes), or December 31, 2021 (for the 2026 Convertible Secured Notes), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is at least 130% of the applicable conversion price (as defined in the applicable indenture) on each applicable trading day (the “Stock Price Conversion Condition”). (ii) During the five five (iii) If the Company calls any or all of the applicable series of notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date. (iv) Upon the occurrence of specified corporate events. After those dates, holders may convert their notes, regardless of the foregoing circumstances, at any time until immediately preceding the applicable maturity date. Upon conversion of notes, the Company will pay or deliver cash, shares of common stock (or cash in lieu of fractional shares), or a combination of cash and common stock, at the Company’s election. The initial conversion rates of the Convertible Notes per $1,000 principal amount, and the approximate conversion price, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ Initial conversion rate Approximate conversion price 2026 Convertible Secured Notes ​ 47.7612 ​ $20.94 2026 Convertible Notes ​ 9.2123 ​ $108.55 2023 Convertible Notes ​ 5.0358 ​ $198.58 ​ These conversion rates are subject to adjustment upon occurrence of certain events but will not be adjusted for accrued and unpaid interest. Also, if certain specified events occur, the conversion rate will be increased for notes converted in connection with such events. ​ The Convertible Notes are redeemable by the Company in certain circumstances starting July 6, 2021 (for the 2023 Convertible Notes), May 20, 2023 (for the 2026 Convertible Notes), and February 20, 2024 (for the 2026 Convertible Secured Notes). After such dates, the Company may redeem for cash all or any part of the applicable Convertible Notes, at its option, if the last reported sale price of the common stock has been at least 130% of the applicable conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on and including the trading day immediately preceding the date of the applicable notice of redemption. The redemption price is equal to 100% of the principal amount redeemed, plus accrued and unpaid interest to (but excluding) the redemption date. No sinking fund is provided for any of the Convertible Notes. If the Company undergoes a fundamental change (as defined in the applicable indenture), noteholders may require the Company to repurchase for cash all or any portion of their notes at a fundamental change repurchase price equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest to (but excluding) the fundamental change repurchase date. Upon the occurrence of certain corporate events (i.e., a “make-whole fundamental change”, as defined in the applicable indenture), the Company will, under certain circumstances, increase the conversion rate for holders of the Convertible Notes who elect to convert in connection with such corporate events. In addition, with respect to the 2026 Convertible Secured Notes, (1) if the Company elects to redeem all or part of such notes and provides notice of redemption to the holders or (2) if the Stock Price Conversion Condition is satisfied with respect to any calendar quarter commencing after the quarter ended September 30, 2022, the Company will, under certain circumstances, increase the conversion rate for holders who elect to convert (1) during the related redemption period, or (2) in connection with such Stock Price Conversion Condition. Upon a Company redemption of the 2026 Convertible Secured Notes, holders of notes called for redemption may be eligible to receive a make-whole premium. The Company, at its option, will satisfy the conversion obligation through cash, shares of common stock, or a combination of cash and common stock. The right to redeem the 2026 Convertible Secured Notes requires the Company to specify a date of redemption no earlier than 60 days and no later than 90 days after the notice of redemption is sent. If a holder elects to convert its 2026 Convertible Secured Notes prior to the effective date of a make-whole fundamental change or the date of the redemption notice, then it is not entitled to the increased conversion rate in connection with such make-whole fundamental change or redemption. Upon certain events of default occurring and continuing, either the indenture trustee or holders of at least 25% in aggregate principal amount of a series of notes then outstanding may declare the entire principal amount of that series of notes, and accrued interest, if any, to be immediately due and payable. Upon events of default involving specified bankruptcy events involving the Company, the Convertible Notes are due and payable immediately. The 2026 Convertible Secured Notes indenture and security agreement include (1) customary covenants, (2) guarantor provisions, and (3) collateral provisions. The 2026 Convertible Secured Notes may become guaranteed in the future by subsidiaries of the Company that meet certain threshold requirements, with the 2026 Convertible Secured Notes becoming senior obligations of such guarantor. The 2026 Convertible Secured Notes are secured by a first priority security interest in substantially all assets of the Company, and of any guarantors, subject to certain exceptions. The Capped Call Transactions ​ On June 30, 2016, in connection with the pricing of the 2023 Convertible Notes, the Company entered into privately-negotiated capped call agreements (the “Base Capped Calls”) with each of Royal Bank of Canada, UBS AG, London Branch, and Credit Suisse Capital LLC. On July 1, 2016, in connection with the underwriters’ exercise of their over-allotment option in full, the Company entered into additional capped call agreements (the “Additional Capped Calls” and, together with the Base Capped Calls, the “Capped Calls”) with same counterparties. The Capped Calls are considered to be instruments indexed to the Company’s own shares and met the criteria to be classified within equity. Therefore, they are not remeasured. In August 2021, in connection with the exchange of 2023 Convertible Notes, of the 460,000 Capped Call options outstanding (400,000 Base Capped Call options and 60,000 Additional Capped Call Options), 306,486 options were terminated (246,486 Base Capped Call options and 60,000 Additional Capped Call options), equivalent to approximately 1.5 million shares. In September 2021, in connection with the additional repurchase of $39.9 million of 2023 Convertible Notes, 39,859 more Capped Call options were terminated, equivalent to approximately 0.2 million shares, with 113,655 Base Capped Call options remaining, equivalent to approximately 0.6 million shares. ​ ​ Interest Expense on Convertible Notes The table summarizes the total interest expense recognized in the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, 2022 ​ ​ Nine Months Ended September 30, 2022 ​ 2026 Convertible Secured Notes ​ 2026 Convertible Notes ​ 2023 Convertible Notes ​ Total ​ ​ 2026 Convertible Secured Notes ​ 2026 Convertible Notes ​ 2023 Convertible Notes ​ Total ​ ​ (in thousands) Contractual interest expense ​ $ 3,127 ​ $ 577 ​ $ 892 ​ $ 4,596 ​ ​ $ 11,877 ​ $ 1,731 ​ $ 2,729 ​ $ 16,337 Amortization of debt issuance costs ​ ​ 407 ​ ​ 117 ​ ​ 117 ​ ​ 641 ​ ​ ​ 1,540 ​ ​ 349 ​ ​ 353 ​ ​ 2,242 Accretion of debt discount ​ — ​ — ​ — ​ — ​ ​ — ​ — ​ — ​ — Total interest expense ​ $ 3,534 ​ $ 694 ​ $ 1,009 ​ $ 5,237 ​ ​ $ 13,417 ​ $ 2,080 ​ $ 3,082 ​ $ 18,579 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, 2021 ​ ​ Nine Months Ended September 30, 2021 ​ 2026 Convertible Secured Notes ​ 2026 Convertible Notes ​ 2023 Convertible Notes ​ Total ​ ​ 2026 Convertible Secured Notes ​ 2026 Convertible Notes ​ 2023 Convertible Notes ​ Total ​ ​ (in thousands) Contractual interest expense ​ $ 2,090 ​ $ 876 ​ $ 2,487 ​ $ 5,453 ​ ​ $ 2,090 ​ $ 3,176 ​ $ 9,962 ​ $ 15,228 Amortization of debt issuance costs ​ ​ 149 ​ ​ 152 ​ ​ 333 ​ ​ 634 ​ ​ ​ 149 ​ ​ 538 ​ ​ 1,303 ​ ​ 1,990 Accretion of debt discount ​ 2,993 ​ 1,990 ​ 3,025 ​ 8,008 ​ ​ 2,993 ​ 7,033 ​ 11,859 ​ 21,885 Total interest expense ​ $ 5,232 ​ $ 3,018 ​ $ 5,845 ​ $ 14,095 ​ ​ $ 5,232 ​ $ 10,747 ​ $ 23,124 ​ $ 39,103 ​ The effective interest rates during the three and nine months ended September 30, 2022 for the 2026 Convertible Secured Notes, 2026 Convertible Notes and 2023 Convertible Notes are 4.03%, 2.44% and 3.69%, respectively. The effective interest rates during the three and nine months ended September 30, 2021 for the 2026 Convertible Secured Notes, 2026 Convertible Notes and 2023 Convertible Notes were 12.80%, 9.90% and 8.42%, respectively. Accrued interest on the Convertible Notes was approximately $2.2 million and $8.6 million as of September 30, 2022 and December 31, 2021, respectively. ​ The Company’s total recorded debt issuance costs are $8.7 million, which are being amortized using the effective interest method through the date of maturity. As of September 30, 2022, $0.4 million of debt issuance costs for the 2023 Convertible Notes are unamortized on the condensed consolidated balance sheets in Current portion of long-term debt. As of September 30, 2022 and December 31, 2021, $3.6 million of debt issuance costs for the 2026 Convertible Secured Notes and 2026 Convertible Notes and $10.3 million of debt issuance costs for the 2026 Convertible Secured Notes, 2026 Convertible Notes and 2023 Convertible Notes, respectively, are unamortized on the condensed consolidated balance sheets in Long-term debt. Cash payments for interest were $22.7 million and $17.3 million for the nine months ended September 30, 2022 and 2021, respectively.

Product Revenue, Net

Product Revenue, Net	9 Months Ended
	Sep. 30, 2022
Product Revenue, Net
Product Revenue, Net	11. Product Revenue, Net The Company recognized U.S. Ocaliva net sales of $77.6 million and $66.6 million for the three months ended September 30, 2022 and 2021, respectively and $208.5 million and $192.1 million for the nine months ended September 30, 2022 and 2021, respectively. ​ ​ ​ ​ Credit Losses ​ The following table summarizes the allowance for credit losses activity on the Company’s trade receivables for the nine-month period ended September 30, 2022 (in thousands): ​ ​ ​ Balance at December 31, 2021 $ 58 Provision for credit losses ​ — Write-offs ​ — Balance at September 30, 2022 $ 58 ​

Research and Development Tax Cr

Research and Development Tax Credit	9 Months Ended
	Sep. 30, 2022
Research and Development Tax Credit
Research and Development Tax Credit	12. Research and Development Tax Credit ​ The Company has benefited from the U.K. Small and Medium-sized Enterprise R&D Tax Credit scheme, or the SME scheme, under which it can obtain a tax credit of up to 33.4% of eligible research and development expenses incurred by the Company in the U.K. Eligible expenses generally include employment costs for research staff, consumables, software and certain internal overhead costs incurred as part of research projects. ​ The Company submitted a claim seeking to obtain tax credits for qualifying R&D expenses incurred in the years ended December 31, 2018 and 2019. In June 2021, the Company received a payment of $4.2 million from HMRC and made a cash repayment of $0.2 million to the HMRC due to submission of an amended claim. ​ Given the finalization and approval of the claims for 2018, the Company recorded the net U.K. research and development tax credit payments received of $4.0 million (less $0.5 million due to foreign currency translation) as a reduction of research and development expense in the condensed consolidated statements of operations for the nine months ended September 30, 2022. In the nine months ended September 30, 2021, the Company recorded U.K. research and development tax credits of $10.7 million as a reduction of research and development expense. ​

Stock Compensation

Stock Compensation	9 Months Ended
	Sep. 30, 2022
Stock Compensation
Stock Compensation	13. Stock Compensation In April 2022, the Company’s Compensation Committee and Board of Directors approved the Amended and Restated Equity Incentive Plan (“2022 Plan”), which became effective upon stockholder approval at the annual meeting of stockholders on May 25, 2022, and which replaced the Company’s 2012 Stock Incentive Plan (“2012 Plan”). Under the 2022 Plan, the Company may grant stock options, which include incentive stock options (“ISOs”) and non-qualified stock options (“NSOs”), stock grants, which include unrestricted shares, restricted shares (“RSAs”) and performance restricted shares (“PSAs”) along with stock-based awards, which include restricted stock unit awards (“RSUs”) and performance restricted stock unit awards (“PRSUs”). The pool of available shares under the 2022 Plan consists of those shares which remained unallocated under the 2012 Plan, plus any shares subject to previously issued awards which are forfeited. The 2022 Plan does not contain an evergreen share replenishment clause and prohibits the repricing of stock options. ​ The estimated fair value of the stock options granted in the nine months ended September 30, 2022 was determined utilizing a Black-Scholes option-pricing model at the date of grant. The fair value of the RSUs granted in the nine months ended September 30, 2022 was determined utilizing the closing price of the Company’s common stock on the date of grant. The fair value of the PRSUs granted in the nine months ended September 30, 2022 was determined utilizing the Monte Carlo simulation method. The Company accounts for all forfeitures when they occur. Ultimately, the actual expense recognized over the vesting period will be for only those shares that vest and are not forfeited. ​ ​ ​ The following table summarizes stock option activity during the nine months ended September 30, 2022 (under both the 2012 Plan and the 2022 Plan): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Number ​ Weighted ​ Remaining ​ Aggregate ​ ​ of Options ​ Average ​ Contractual ​ Intrinsic Value ​ (in thousands) Exercise Price Term (years) (in thousands) Outstanding at December 31, 2021 2,252 ​ $ 50.28 7.2 ​ $ 408 Granted 493 ​ $ 15.04 — ​ $ — Exercised (29) ​ $ 15.01 — ​ $ 93 Cancelled/forfeited (164) ​ $ 27.60 — ​ $ — Expired (105) ​ $ 99.54 — ​ $ — Outstanding at September 30, 2022 2,447 ​ $ 43.00 7.0 ​ $ 45 Expected to vest 954 ​ $ 21.97 8.7 ​ $ 45 Exercisable 1,493 ​ $ 56.45 5.9 ​ $ — ​ The aggregate intrinsic value of options is calculated as the difference between the exercise price of the underlying options and the fair value of the Company’s common stock for those options that had exercise prices lower than the fair value of the Company’s common stock. As of September 30, 2022, the total compensation cost related to non-vested option awards not yet recognized is approximately $13.2 million with a weighted average remaining vesting period of 1.23 years. The Company estimated the fair value of stock options granted in the periods presented utilizing a Black-Scholes option-pricing model utilizing the following assumptions: ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ 2022 2021 ​ Volatility 66.4 - 67.7 % 65.2 - 69.3 % Expected term (in years) 5.5 - 6.0 3.75 - 6.0 Risk-free rate 1.3 - 2.8 % 0.4 - 0.9 % Expected dividend yield — % — % ​ The following table summarizes the aggregate RSU, RSA and PRSU activity during the nine months ended September 30, 2022 (under both the 2012 Plan and the 2022 Plan): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number of ​ Average Grant Date ​ Awards Fair Value ​ ​ (in thousands) ​ ​ ​ Non-vested awards at December 31, 2021 968 ​ $ 39.58 Granted 819 ​ $ 15.69 Vested ​ (411) ​ $ 30.74 Forfeited (193) ​ $ 38.72 Non-vested awards at September 30, 2022 1,183 ​ $ 26.23 ​ As of September 30, 2022, there is approximately $20.8 million of total unrecognized compensation expense related to unvested RSUs, RSAs and PRSUs, which is expected to be recognized over a weighted average vesting period of 1.54 years. During the nine months ended September 30, 2022, the Company granted a total of 168,600 PRSUs to certain of the Company’s executive officers. The performance criterion for such PRSUs is based on the Total Shareholder Return (“TSR”) of the Company’s common stock relative to the TSR of the companies comprising the S&P Biotechnology Select Industry Index (the “TSR Peer Group”) over a 3-year performance period and is accounted for as a market condition under ASC Topic 718, Compensation – Stock Compensation calculated by dividing (a) the difference of the ending average stock price minus the beginning average stock price by (b) the beginning average stock price. The beginning average stock price equals the average closing stock price over the one calendar month period prior to the beginning of the performance period, after adjusting for dividends, as applicable. The ending average stock price equals the average closing price over the one calendar month period ending on the last day of the performance period, after adjusting for dividends, as applicable. The Company’s relative TSR is then used to calculate the payout percentage, which may range from zero percent (0%) to one hundred and fifty percent (150%) of the target award. The Company utilized a Monte Carlo simulation to determine the grant date fair value of such PRSUs. The Company recorded approximately $0.2 million and $0.7 million of stock-based compensation related to such PRSUs granted during the three and nine months ended September 30, 2022. The Company modified certain stock option, stock grant and stock-based awards to accelerate vesting in anticipation of the sale of the ex-U.S. commercial operations to Advanz. The Company accelerated the vesting of all awards held by employees of those operations being sold because those employees would have otherwise forfeited the awards. Given the sale of the ex-U.S. commercial operations was probable at the time the awards were modified and the entities met the held for sale criteria, the modification to accelerate vesting was recognized at the date of the modification. As a result, incremental compensation expense of $3.4 million was recognized based on the fair value of the modified awards for the nine months ended September 30, 2022. ​ Stock-based compensation expense has been reported in the Company’s condensed consolidated statements of operations as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2022 2021 2022 2021 ​ ​ ​ (in thousands) Selling, general and administrative ​ $ 4,411 ​ $ 5,737 ​ $ 12,485 ​ $ 16,255 Research and development ​ 1,377 ​ 1,451 ​ 4,173 ​ 4,626 Restructuring ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total stock-based compensation ​ $ 5,788 ​ $ 7,188 ​ $ 16,658 ​ $ 20,881 ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock-based compensation expense recognized under discontinued operations, included in net income from discontinued operations, was $0 and $1.4 million for the three months ended September 30, 2022 and 2021, respectively and $4.4 million and $4.6 million for the nine months ended September 30, 2022 and 2021, respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Taxes
Income Taxes	14. Income Taxes The Company recorded a provision for income taxes of $8.0 million for the three and nine months ended September 30, 2022, respectively. No income tax provision was recorded for the three and nine months ended September 30, 2021. The tax ​

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2022
Net income (loss) per common and potential common share (basic and diluted):
Net Loss Per Share	15. Net Loss Per Share Basic loss per share is computed by dividing net loss attributable to common stockholders (numerator) by the weighted average number of common shares outstanding (denominator) during the period. For the three and nine-month periods ended September 30, 2022 and 2021, the diluted loss per share computations for such periods did not assume the conversion of the Convertible Notes, exercise of stock options or vesting of RSUs or PRSUs as they would have had an anti-dilutive effect on loss per share. The Company utilized the control number concept in the computation of diluted earnings per share. The control number used is net loss from continuing operations. The control number requires that the same number of potentially dilutive securities applied in computing diluted earnings per share from continuing operations be applied to all other categories of income or loss. Since the Company had a net loss from continuing operations for all periods presented, no dilutive effect has been recognized in the calculation of income from discontinued operations per share. The following potentially dilutive securities have been excluded from the computations of diluted weighted average shares outstanding for the three and nine-month periods ended September 30, 2022 and 2021, as the inclusion thereof would have been anti-dilutive: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2022 2021 ​ 2022 2021 ​ ​ (in thousands) ​ (in thousands) Shares issuable upon conversion of Convertible Notes ​ 18,462 ​ 14,806 ​ 23,169 ​ 7,930 Options 2,483 2,692 ​ 2,474 2,722 Unvested restricted stock units 1,233 1,244 ​ 1,351 1,221 Total 22,178 18,742 ​ 26,994 11,873 ​

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies.
Commitments and Contingencies	16. Commitments and Contingencies Legal Proceedings ​ The Company is involved in various disputes, legal proceedings and litigation in the course of its business, including the matters described below and, from time to time, governmental inquiries and investigations and employment and other litigation. These matters, which could result in damages, fines or other administrative, civil or criminal remedies, liabilities or penalties, are often complex and the outcome of such matters is often uncertain. The Company may from time to time enter into settlements to resolve such matters. Shareholder Litigation The Company currently is involved in a derivative suit related to a purported shareholder class action lawsuit. The Company believes that it has a number of valid defenses to the claims of the litigant, and intends to vigorously defend itself. At this time, a discontinuance of the derivative suit has been agreed to by the parties, and is pending approval by the New York state court. Accordingly, the Company does not expect a material loss from this matter. The 2017 Litigation On September 27, 2017, a purported shareholder class action, initially styled DeSmet v. Intercept Pharmaceuticals, Inc., et al., was filed in the United States District Court for the Southern District of New York, naming the Company and certain of its officers as defendants. On June 1, 2018, the Court appointed lead plaintiffs in the lawsuit, and on July 31, 2018, the lead plaintiffs filed an amended complaint, captioned Hou Liu and Amy Fu v. Intercept Pharmaceuticals, Inc., et al., naming the Company and certain of its current and former officers as defendants. The lead plaintiffs claimed to be suing on behalf of anyone who purchased or otherwise acquired the Company’s common stock between June 9, 2016 and September 20, 2017. This lawsuit alleged that material misrepresentations and/or omissions of material fact were made in the Company’s public disclosures during that period, in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 10b-5 promulgated thereunder. The alleged improper disclosures relate to statements regarding Ocaliva dosing and use, and pharmacovigilance-related matters, as well as the Company’s operations, financial performance, and prospects. The plaintiffs sought unspecified monetary damages on behalf of the putative class, an award of costs and expenses, including attorney’s fees, and rescissory damages. On September 14, 2018, the Company filed a motion to dismiss the amended complaint. On March 26, 2020, the Court granted the Company’s motion to dismiss the amended complaint in its entirety, and on March 27, 2020 the Court entered judgment in favor of the Company. On May 8, 2020, the plaintiffs filed a motion to set aside the judgment and grant leave to file a second amended complaint. On September 9, 2020, the Court denied the plaintiffs’ motion, finding that the proposed second amended complaint did not cure the deficiencies identified in the amended complaint. On October 9, 2020, the plaintiffs filed a notice of appeal to the United States Court of Appeals for the Second Circuit and on January 25, 2021, the plaintiffs filed an appellate brief challenging the March 27, 2020 judgment, the September 9, 2020 judgment, and other court orders. On April 23, 2021, the Company filed a response brief in the Second Circuit appellate proceeding. On May 14, 2021, the plaintiffs filed a reply brief. On December 9, 2021, oral argument was held in the Second Circuit. On June 16, 2022, the Second Circuit entered a summary order affirming the order of the District Court dated September 9, 2020. Separately, on December 1, 2017, a purported shareholder demand was made on the Company based on substantially the same allegations as those set forth in the securities case above. Also, on January 5, 2018, a follow-on derivative suit, styled Davis v. Pruzanski, et al., was filed in New York state court by shareholder Gregg Davis based on substantially the same allegations as those set forth in the securities case above. The derivative litigation was stayed pending the exhaustion of all appeals relating to the dismissal of the securities case. Following exhaustion of such appeals, on October 7, 2022, the parties stipulated to and agreed to a discontinuance of the derivative suit. The stipulation is currently pending approval by the New York state court. Patent Litigation The Company has received paragraph IV certification notice letters from seven generic drug manufacturers indicating that each such manufacturer submitted to the FDA an Abbreviated New Drug Application (“ANDA”) seeking approval to manufacture and sell a generic version of the Company’s 5 mg and 10 mg dosage strengths of Ocaliva® (obeticholic acid) for PBC prior to the expiration of certain patents listed for Ocaliva in the FDA’s Approved Drug Products with Therapeutic Equivalence Evaluations (the “Orange Book”). The seven generic drug manufacturers and when we received their initial paragraph IV certification notices are as follows: (1) Apotex Inc. (“Apotex”) (July 2020), (2) Lupin Limited (“Lupin”) (July 2020), (3) Amneal Pharmaceuticals of New York, LLC, as U.S. agent for Amneal EU Limited (collectively, “Amneal”) (July 2020), (4) Optimus Pharma Pvt Ltd (“Optimus”) (July 2020), (5) MSN Pharmaceuticals Inc. and MSN Laboratories Private Limited (collectively, “MSN”) (July 2020), (6) Dr. Reddy’s Laboratories, Inc., and Dr. Reddy’s Laboratories, Ltd. (collectively, “Dr. Reddy’s”) (December 2020), and (7) Zenara Pharma Private Limited (“Zenara”) (August 2022). Each paragraph IV certification notice alleged that the challenged Orange Book patents were invalid, unenforceable, and/or would not be infringed by the commercial manufacture, use, or sale of the generic products described in the generic manufacturer’s respective ANDA. In each case, within 45 days of receipt of the paragraph IV certification notice, the Company initiated a patent infringement suit against the generic manufacturer in the United States District Court for the District of Delaware. As a result, under the Drug Price Competition and Patent Term Restoration Act of 1984 (the “Hatch-Waxman Act”), the FDA cannot grant final approval of each generic manufacturer’s ANDA before the earlier of November 27, 2023 (or, for Zenara, February 8, 2025), or a court decision in their favor. The Company has since received additional paragraph IV certification notices from certain of the generic manufacturers challenging additional Ocaliva Orange Book patents, and the Company amended its complaints against the generic challengers accordingly to add infringement allegations in relation thereto. The challenged Ocaliva Orange Book patents asserted by the Company in the ongoing patent litigations are U.S. Patents Nos. RE 48,286 (the “‘286 Patent”), 9,238,673 (the “‘673 Patent”), 10,047,117 (the “‘117 Patent”), 10,052,337 (the “‘337 Patent”), 10,174,073 (the “‘073 Patent”), 10,751,349 (the “‘349 Patent”), and 10,758,549 (the “‘549 Patent”). On August 16, 2022, the Company e ntered into a settlement agreement with Dr. Reddy’s resolving the patent litigation over Dr. Reddy’s ANDA. ​ Under the terms of the agreement, the Company granted Dr. Reddy’s a non-exclusive, non-sublicensable, non-transferable, royalty-free license to commercialize its generic version of Ocaliva in the United States commencing on October 26, 2035, or earlier under certain circumstances. The parties filed the settlement agreement with the Federal Trade Commission and the Department of Justice pursuant to applicable law and terminated their litigation pursuant to a consent judgment that was approved by the court. Similar patent litigation by the Company against the other ANDA filers remains pending. Trial against Amneal, Apotex, Lupin, MSN, and Optimus is scheduled for February 27, 2023. A trial date for the Zenara case, which was filed on September 16, 2022, has not been set. These patent proceedings are costly and time-consuming, and successful challenges to the Company’s patent or other intellectual property rights could result in the Company losing those rights in the relevant jurisdiction, and could allow third parties to use the Company’s proprietary technologies without a license from the Company or its collaborators. While the Company intends to vigorously defend and enforce its intellectual property rights protecting Ocaliva, the Company can offer no assurances regarding when these lawsuits will be decided, which side will prevail, or whether a generic equivalent of Ocaliva could be approved and enter the market before the expiration of the Company’s patents. ​

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Summary of Significant Accounting Policiies
Reclassifications	Reclassifications ​ Certain amounts in prior periods have been reclassified to reflect the impact of the discontinued operations treatment in order to conform to the current period presentation.
Use of Estimates	Use of Estimates The preparation of these unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates.
Held for Sale and Discontinued Operations	Held for Sale and Discontinued Operations Assets and liabilities of a group of components of an entity are classified as held for sale when all of the following criteria for a plan of sale have been met: (1) management, having the authority to approve the action, commits to a plan to sell the entities to be sold; (2) the entities to be sold are available for immediate sale, in their present condition, subject only to terms that are usual and customary for sales of such entities to be sold; (3) an active program to locate a buyer and other actions required to complete the plan to sell the entities have been initiated; (4) the sale of the entities is probable and is expected to be completed within one year; (5) the entities are being actively marketed for a price that is reasonable in relation to their current fair value; and (6) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or the plan will be withdrawn. ​ Components of an entity that are classified as held for sale and have operations and cash flows that can be clearly distinguished from the rest of the entity are required to be reported as assets and liabilities held for sale. A disposal of a group of components that is classified as held for sale is reported as discontinued operations if the disposal represents a strategic shift that has and will have a major effect on our operations and financial results. ​ ​ The Company accounts for contingent consideration received as a gain contingency, and recognizes such contingent consideration when it is realized or realizable, once the contingency is resolved. ​ Additional details surrounding the Company's assets and liabilities classified as discontinued operations are included in Note 4.
Recently Adopted Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”), which simplifies the accounting for convertible instruments by eliminating the requirement to separately account for embedded conversion features as an equity component in certain circumstances. A convertible debt instrument will be reported as a single liability instrument with no separate accounting for an embedded conversion feature unless separate accounting is required for an embedded conversion feature as a derivative or under the substantial premium model. The ASU simplifies the diluted earnings per share calculation by requiring that an entity use the if-converted method and that the effect of potential share settlement be included in diluted earnings per share calculations. Further, the ASU requires enhanced disclosures about convertible instruments. The Company adopted ASU 2020-06 on January 1, 2022 using the modified retrospective method. Upon adoption at January 1, 2022, the Company made certain adjustm ents in its condensed consolidated balance sheets which consisted of an increase of $176.3 million in Long-term debt, a net decreas e of $307.4 million in Additional paid-in capital and a net decrease of $131.1 million in Accumulated deficit resulting from the reversal of previously recognized non-cash interest expense. After adoption, the Company accounts for the Convertible Notes entirely as liabilities measured at amortized cost. The Company did not elect the fair value option. Additionally, the Company will no longer incur non-cash interest expense for the amortization of debt discount related to the previously separated equity components. The Company will apply the if-converted methodology in computing diluted earnings per share if and when profitability is achieved. ​ The following table summarizes the adjustments made to the Company’s condensed consolidated balance sheet as of January 1, 2022 as a result of applying the modified retrospective method in adopting ASU 2020-06: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As Reported ​ ASU 2020-06 ​ ​ As Adjusted ​ ​ ​ December 31, 2021 ​ ​ Adjustments ​ ​ January 1, 2022 ​ ​ (in thousands) Convertible Notes ​ $ 539,782 ​ $ 176,303 ​ $ 716,085 Additional paid-in capital ​ $ 2,308,653 ​ $ (307,371) ​ $ 2,001,282 Accumulated deficit ​ $ (2,489,772) ​ $ 131,068 ​ $ (2,358,704) ​ Under the modified retrospective method, comparative prior periods are not adjusted.
Fair Value of Financial Instruments	The carrying amounts of the Company’s receivables and payables approximate their fair value due to their short maturities. Accounting principles provide guidance for using fair value to measure assets and liabilities. The guidance includes a three-level hierarchy of valuation techniques used to measure fair value, defined as follows: ● Unadjusted Quoted Prices — The fair value of an asset or liability is based on unadjusted quoted prices in active markets for identical assets or liabilities (Level 1). ● Pricing Models with Significant Observable Inputs — The fair value of an asset or liability is based on information derived from either an active market quoted price, which may require further adjustment based on the attributes of the financial asset or liability being measured, or an inactive market transaction (Level 2). ● Pricing Models with Significant Unobservable Inputs — The fair value of an asset or liability is primarily based on internally derived assumptions surrounding the timing and amount of expected cash flows for the financial instrument. Therefore, these assumptions are unobservable in either an active or inactive market (Level 3). The Company considers an active market as one in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Conversely, the Company views an inactive market as one in which there are few transactions for the asset or liability, the prices are not current, or price quotations vary substantially either over time or among market makers. Where appropriate, non-performance risk, or that of a counterparty, is considered in determining the fair values of liabilities and assets, respectively. The Company’s cash deposits, money market funds and U.S. Treasury securities are classified within Level 1 of the fair value hierarchy because they are valued using bank balances or quoted prices from active markets. Commercial paper, corporate debt securities, and U.S. government agency bonds are classified as Level 2 instruments based on market pricing and other observable inputs.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2022
Summary of Significant Accounting Policiies
Schedule of adjustments made condensed consolidated balance sheet on adopting ASU 2020-06	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As Reported ​ ASU 2020-06 ​ ​ As Adjusted ​ ​ ​ December 31, 2021 ​ ​ Adjustments ​ ​ January 1, 2022 ​ ​ (in thousands) Convertible Notes ​ $ 539,782 ​ $ 176,303 ​ $ 716,085 Additional paid-in capital ​ $ 2,308,653 ​ $ (307,371) ​ $ 2,001,282 Accumulated deficit ​ $ (2,489,772) ​ $ 131,068 ​ $ (2,358,704)

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2022
Discontinued Operations
Schedule of discontinued operations	The following table presents the carrying amounts of the classes of assets and liabilities related to the discontinued operations as of September 30, 2022 and December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 ​ December 31, 2021 Restricted cash ​ $ — ​ $ 1,581 Accounts receivable, net of allowance for credit losses ​ — ​ 19,280 Prepaid expenses and other current assets ​ ​ — ​ ​ 3,551 Fixed assets, net ​ ​ — ​ ​ 96 Inventory ​ ​ — ​ ​ 736 Security deposits ​ ​ — ​ ​ 2,332 Other assets ​ ​ — ​ ​ 2,562 Total assets classified as discontinued operations in condensed consolidated balance sheets ​ $ — ​ $ 30,138 ​ ​ ​ ​ ​ ​ ​ Accounts payable, accrued expenses and other liabilities ​ $ — ​ $ 54,436 Long-term other liabilities ​ ​ — ​ ​ 1,344 Total liabilities classified as discontinued operations in condensed consolidated balance sheets ​ $ — ​ $ 55,780 ​ As of September 30, 2022, there were no assets or liabilities ​ The following table presents the results of operations related to the discontinued operations for the three and nine months ended September 30, 2022 and 2021 respectively: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, ​ 2022 2021 2022 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product revenue, net ​ $ — ​ $ 26,187 ​ $ 58,065 ​ $ 78,947 Cost of sales ​ 169 ​ 434 ​ 1,194 ​ 1,315 Selling, general and administrative ​ 636 ​ 12,068 ​ 28,083 ​ 40,011 Research and development ​ 4 ​ 335 ​ 255 ​ 614 Restructuring ​ ​ — ​ ​ 3 ​ ​ — ​ ​ 198 Other (expense) income, net ​ (7) ​ (38) ​ (390) ​ (136) (Loss) income from discontinued operations ​ $ (816) ​ $ 13,309 ​ $ 28,143 ​ $ 36,673 Gain on the sale of the ex-U.S. commercial operations and sublicense ​ ​ 380,356 ​ ​ — ​ ​ 380,356 ​ ​ — Income from discontinued operations, pre-tax ​ $ 379,540 ​ $ 13,309 ​ $ 408,499 ​ $ 36,673 Income tax expense ​ ​ (8,000) ​ ​ — ​ ​ (8,000) ​ ​ — Income from discontinued operations, net of tax ​ $ 371,540 ​ $ 13,309 ​ $ 400,499 ​ $ 36,673 ​ ​ ​ ​ ​ ​ The following table presents the calculation of the gain on sale related to the discontinued operations for the three and nine months ended September 30, 2022. ​ ​ ​ ​ ​ ​ ​ September 30, 2022 Proceeds from sale of business ​ $ 366,500 Transaction costs ​ ​ (9,901) Carrying value of net liabilities sold ​ ​ 25,918 Working capital adjustments ​ ​ (7,153) Release of accumulated currency translation adjustments for disposed subsidiaries ​ ​ 7,319 Supply & manufacturing agreement liability ​ ​ (2,327) Gain on sale, pre-tax ​ ​ 380,356 Income tax expense ​ ​ (8,000) Gain on sale, net of tax ​ $ 372,356 ​ The following table presents the net cash provided by operating activities for the assets and liabilities classified as discontinued operations for the nine months ended September 30, 2022 and 2021 respectively: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ 2022 2021 Net income from discontinued operations $ 400,499 $ 36,673 ​ ​ ​ ​ ​ ​ ​ Adjustment of non-cash activities ​ ​ 4,937 ​ ​ 5,562 Decrease (increase) in accounts receivable ​ ​ 18,235 ​ ​ (4,881) Decrease in prepaid expenses and other current assets ​ ​ 3,746 ​ ​ 2,003 Decrease (increase) in inventory ​ ​ 242 ​ ​ (23) Decrease in security deposits ​ ​ 2,191 ​ ​ — Decrease in operating lease liabilities ​ ​ (386) ​ ​ (802) (Decrease) increase in accounts payable, accrued expenses and other current liabilities ​ ​ (53,647) ​ ​ 1,363 Reclassification of cash proceeds from sale of business to investing activities ​ ​ (366,500) ​ ​ — Net cash provided by operating activities ​ $ 9,317 ​ $ 39,895 ​ ​ ​ ​ ​ ​ ​ Proceeds from sale of business, net of cash ​ ​ 363,233 ​ ​ — Net cash provided by investing activities ​ $ 363,233 ​ $ —

Cash, Cash Equivalents and In_2

Cash, Cash Equivalents and Investment Debt Securities (Tables)	9 Months Ended
	Sep. 30, 2022
Cash, Cash Equivalents and Investment Debt Securities
Cash, Cash Equivalents and Investment Debt Securities	The following table summarizes the Company’s cash, cash equivalents and investment debt securities as of September 30, 2022 and December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2022 ​ ​ ​ ​ ​ Allowance ​ Gross ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ for Credit ​ Unrealized ​ Unrealized ​ ​ ​ ​ Amortized Cost ​ Losses Gains Losses Fair Value ​ ​ (in thousands) Cash and cash equivalents: ​ ​ ​ ​ ​ ​ ​ Cash and money market funds ​ $ 95,225 ​ $ — ​ $ — ​ $ — ​ $ 95,225 Commercial paper ​ ​ 13,977 ​ ​ — ​ ​ — ​ ​ (4) ​ ​ 13,973 Corporate debt securities ​ ​ 3,997 ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,997 Total cash and cash equivalents ​ ​ 113,199 ​ ​ — ​ ​ — ​ ​ (4) ​ ​ 113,195 Investment debt securities: ​ ​ ​ ​ ​ Commercial paper ​ 108,091 ​ — ​ — ​ ​ (254) ​ 107,837 Corporate debt securities ​ 245,321 ​ — ​ ​ — ​ ​ (2,018) ​ 243,303 U.S. government agency bonds ​ ​ 11,751 ​ ​ — ​ ​ 1 ​ ​ (117) ​ ​ 11,635 U.S. Treasury securities ​ ​ 14,965 ​ ​ — ​ ​ — ​ ​ (84) ​ ​ 14,881 Total investment debt securities ​ 380,128 ​ — ​ 1 ​ (2,473) ​ 377,656 Total cash, cash equivalents and investment debt securities ​ $ 493,327 ​ $ — ​ $ 1 ​ $ (2,477) ​ $ 490,851 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ ​ ​ ​ ​ Allowance ​ Gross ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ for Credit ​ Unrealized ​ Unrealized ​ ​ ​ ​ Amortized Cost ​ Losses Gains Losses ​ Fair Value ​ ​ (in thousands) ​ ​ ​ Cash and cash equivalents: ​ ​ ​ ​ ​ ​ ​ Cash and money market funds ​ $ 76,709 ​ $ — ​ $ — ​ $ — ​ $ 76,709 Commercial paper ​ ​ 8,000 ​ ​ — ​ ​ — ​ ​ — ​ ​ 8,000 Total cash and cash equivalents ​ ​ 84,709 ​ ​ — ​ ​ — ​ ​ — ​ ​ 84,709 Investment debt securities: ​ ​ ​ ​ ​ Commercial paper ​ 84,513 ​ — ​ — ​ (49) ​ 84,464 Corporate debt securities ​ 232,721 ​ — ​ ​ 16 ​ (245) ​ 232,492 Municipal bonds ​ ​ 5,028 ​ ​ — ​ ​ — ​ ​ (1) ​ ​ 5,027 U.S. Treasury securities ​ ​ 12,998 ​ ​ — ​ ​ — ​ ​ (1) ​ ​ 12,997 Total investment debt securities ​ 335,260 ​ — ​ 16 ​ (296) ​ 334,980 Total cash, cash equivalents and investment debt securities ​ $ 419,969 ​ $ — ​ $ 16 ​ $ (296) ​ $ 419,689
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	The aggregate fair value of the Company’s available-for-sale investment debt securities that have been in a continuous unrealized loss position for less than twelve months or twelve months or longer is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2022 ​ ​ Less than 12 months ​ 12 months or longer ​ Total ​ ​ (in thousands) ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ ​ ​ ​ Unrealized ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ Fair Value Losses Fair Value Losses Fair Value Losses Commercial paper ​ $ 107,837 ​ $ (254) ​ $ — ​ $ — ​ $ 107,837 ​ $ (254) Corporate debt securities ​ ​ 224,195 ​ ​ (1,906) ​ ​ 19,110 ​ ​ (111) ​ ​ 243,305 ​ ​ (2,017) U.S. government agency bonds ​ ​ 10,383 ​ ​ (118) ​ ​ — ​ ​ — ​ ​ 10,383 ​ ​ (118) U.S. Treasury securities ​ ​ 14,881 ​ ​ (84) ​ ​ — ​ ​ — ​ ​ 14,881 ​ ​ (84) Total ​ $ 357,296 ​ $ (2,362) ​ $ 19,110 ​ $ (111) ​ $ 376,406 ​ $ (2,473) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ ​ Less than 12 months ​ 12 months or longer ​ Total ​ ​ (in thousands) ​ ​ ​ ​ Gross ​ ​ Gross ​ ​ Gross ​ ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ Fair Value Losses Fair Value Losses Fair Value Losses Commercial paper ​ $ 81,464 ​ $ (49) ​ $ — ​ $ — ​ $ 81,464 ​ $ (49) Corporate debt securities ​ ​ 196,120 ​ ​ (245) ​ ​ — ​ ​ — ​ 196,120 ​ (245) Municipal bonds ​ ​ 5,027 ​ ​ (1) ​ ​ — ​ ​ — ​ ​ 5,027 ​ ​ (1) U.S. Treasury securities ​ ​ 12,997 ​ ​ (1) ​ ​ — ​ ​ — ​ ​ 12,997 ​ ​ (1) Total ​ $ 295,608 ​ $ (296) ​ $ — ​ $ — ​ $ 295,608 ​ $ (296)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Measurements
Fair Value, Marketable Securities Measured on Recurring and Nonrecurring Basis	Financial assets carried at fair value are classified in the tables below in one of the three categories described above: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using ​ Total Level 1 Level 2 Level 3 ​ ​ (in thousands) September 30, 2022 ​ ​ ​ ​ Assets ​ ​ ​ ​ Cash and cash equivalents: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds ​ $ 80,977 ​ $ 80,977 ​ $ — ​ $ — Commercial paper ​ ​ 13,973 ​ ​ — ​ ​ 13,973 ​ ​ — Corporate debt securities ​ ​ 3,997 ​ ​ — ​ ​ 3,997 ​ ​ — Available-for-sale investment debt securities: ​ ​ ​ ​ ​ ​ ​ Commercial paper ​ 107,837 ​ — ​ 107,837 ​ — Corporate debt securities ​ 243,303 ​ — ​ 243,303 ​ — U.S. government agency bonds ​ ​ 11,635 ​ ​ — ​ ​ 11,635 ​ ​ — U.S. Treasury securities ​ ​ 14,881 ​ ​ 14,881 ​ ​ — ​ ​ — Total financial assets ​ $ 476,603 ​ $ 95,858 ​ $ 380,745 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ Assets ​ ​ ​ ​ Cash and cash equivalents: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds ​ $ 39,287 ​ $ 39,287 ​ $ — ​ $ — Commercial paper ​ ​ 8,000 ​ ​ — ​ ​ 8,000 ​ ​ — Available-for-sale investment debt securities: ​ ​ ​ ​ ​ ​ ​ Commercial paper ​ 84,464 ​ — ​ 84,464 ​ — Corporate debt securities ​ 232,492 ​ — ​ 232,492 ​ — Municipal bonds ​ ​ 5,027 ​ ​ — ​ ​ 5,027 ​ ​ — U.S. Treasury securities ​ ​ 12,997 ​ ​ 12,997 ​ ​ — ​ ​ — Total financial assets ​ $ 382,267 ​ $ 52,284 ​ $ 329,983 ​ $ —
Schedule of Available for Sale Securities Debt Maturities	The aggregate fair value of all available-for-sale investment debt securities (commercial paper, corporate debt securities, U.S. government agency bonds, municipal bonds and U.S. Treasury securities), by contractual maturity, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value as of ​ September 30, 2022 December 31, 2021 ​ ​ (in thousands) Due in one year or less ​ $ 336,422 ​ $ 305,914 Due after one year through two years ​ 41,234 ​ 29,066 Total investment debt securities ​ $ 377,656 ​ $ 334,980 ​

Fixed Assets, Net (Tables)

Fixed Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2022
Fixed Assets, Net
Fixed Assets, Net	Fixed assets are stated at cost and depreciated or amortized using the straight-line method based on useful lives as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Useful lives ​ ​ ​ ​ ​ ​ ​ (Years) September 30, 2022 December 31, 2021 ​ ​ ​ ​ (in thousands) Office equipment and software 3 ​ $ 3,036 ​ $ 4,751 Leasehold improvements Shorter of remaining lease term or useful life ​ 669 ​ 12,884 Furniture and fixtures 7 ​ 1,280 ​ 3,772 Subtotal ​ ​ ​ 4,985 ​ 21,407 Less: accumulated depreciation ​ ​ ​ (3,709) ​ (18,126) Fixed assets, net ​ ​ ​ $ 1,276 ​ $ 3,281

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2022
Inventory
Schedule of Inventory	Inventories are stated at the lower of cost or market. Inventories consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 December 31, 2021 ​ ​ (in thousands) Work-in-process ​ $ 6,113 ​ $ 7,801 Finished goods ​ 161 ​ 82 Inventory ​ $ 6,274 ​ $ 7,883

Accounts Payable, Accrued Exp_2

Accounts Payable, Accrued Expenses and Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2022
Accounts Payable, Accrued Expenses and Other Liabilities
Schedule of Accounts Payable and Accrued Liabilities	Accounts payable, accrued expenses and other liabilities consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 December 31, 2021 ​ ​ (in thousands) Accounts payable ​ $ 21,303 ​ $ 17,598 Accrued employee compensation ​ 19,533 ​ 20,845 Accrued contracted services ​ 45,745 ​ 51,136 Accrued rebates, returns, discounts and other incentives ​ ​ 14,491 ​ ​ 11,626 Accrued income taxes payable (see Note 14) ​ ​ 7,380 ​ ​ — Other liabilities ​ ​ 1,436 ​ ​ 2,575 Accounts payable, accrued expenses and other liabilities ​ $ 109,888 ​ $ 103,780

Current and Long-Term Debt (Tab

Current and Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Current and Long-Term Debt
Schedule of Long-term Debt Instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 ​ December 31, 2021 ​ ​ 2026 Convertible Secured Notes ​ 2026 Convertible Notes ​ 2023 Convertible Notes ​ 2026 Convertible Secured Notes ​ 2026 Convertible Notes ​ 2023 Convertible Notes ​ ​ (in thousands) Liability component ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Principal ​ $ 111,143 ​ $ 115,349 ​ $ 109,808 ​ $ 500,000 ​ $ 115,349 ​ $ 113,655 Unamortized debt issuance costs ​ ​ (1,857) ​ ​ (1,778) ​ ​ (356) ​ ​ (7,132) ​ ​ (2,313) ​ ​ (816) Unamortized debt discount ​ ​ — ​ ​ — ​ ​ — ​ ​ (141,303) ​ ​ (30,228) ​ ​ (7,430) Net carrying amount ​ $ 109,286 ​ $ 113,571 ​ $ 109,452 ​ $ 351,565 ​ $ 82,808 ​ ​ 105,409 Equity component, net of issuance costs* ​ ​ — ​ ​ — ​ ​ — ​ $ 147,458 ​ $ 62,841 ​ $ 97,072 ​ *Recorded as a reduction of Additional paid-in capital upon the adoption of ASU 2020-06.
Schedule of fair value of the convertible notes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 December 31, 2021 ​ ​ (in thousands) 2026 Convertible Secured Notes ​ $ 116,112 ​ $ 543,370 2026 Convertible Notes ​ $ 87,125 ​ $ 69,492 2023 Convertible Notes ​ $ 106,963 ​ $ 107,727
Schedule of initial conversion of convertible debt	​ ​ ​ ​ ​ ​ ​ ​ Initial conversion rate Approximate conversion price 2026 Convertible Secured Notes ​ 47.7612 ​ $20.94 2026 Convertible Notes ​ 9.2123 ​ $108.55 2023 Convertible Notes ​ 5.0358 ​ $198.58
Schedule of interest expenses on convertible debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, 2022 ​ ​ Nine Months Ended September 30, 2022 ​ 2026 Convertible Secured Notes ​ 2026 Convertible Notes ​ 2023 Convertible Notes ​ Total ​ ​ 2026 Convertible Secured Notes ​ 2026 Convertible Notes ​ 2023 Convertible Notes ​ Total ​ ​ (in thousands) Contractual interest expense ​ $ 3,127 ​ $ 577 ​ $ 892 ​ $ 4,596 ​ ​ $ 11,877 ​ $ 1,731 ​ $ 2,729 ​ $ 16,337 Amortization of debt issuance costs ​ ​ 407 ​ ​ 117 ​ ​ 117 ​ ​ 641 ​ ​ ​ 1,540 ​ ​ 349 ​ ​ 353 ​ ​ 2,242 Accretion of debt discount ​ — ​ — ​ — ​ — ​ ​ — ​ — ​ — ​ — Total interest expense ​ $ 3,534 ​ $ 694 ​ $ 1,009 ​ $ 5,237 ​ ​ $ 13,417 ​ $ 2,080 ​ $ 3,082 ​ $ 18,579 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, 2021 ​ ​ Nine Months Ended September 30, 2021 ​ 2026 Convertible Secured Notes ​ 2026 Convertible Notes ​ 2023 Convertible Notes ​ Total ​ ​ 2026 Convertible Secured Notes ​ 2026 Convertible Notes ​ 2023 Convertible Notes ​ Total ​ ​ (in thousands) Contractual interest expense ​ $ 2,090 ​ $ 876 ​ $ 2,487 ​ $ 5,453 ​ ​ $ 2,090 ​ $ 3,176 ​ $ 9,962 ​ $ 15,228 Amortization of debt issuance costs ​ ​ 149 ​ ​ 152 ​ ​ 333 ​ ​ 634 ​ ​ ​ 149 ​ ​ 538 ​ ​ 1,303 ​ ​ 1,990 Accretion of debt discount ​ 2,993 ​ 1,990 ​ 3,025 ​ 8,008 ​ ​ 2,993 ​ 7,033 ​ 11,859 ​ 21,885 Total interest expense ​ $ 5,232 ​ $ 3,018 ​ $ 5,845 ​ $ 14,095 ​ ​ $ 5,232 ​ $ 10,747 ​ $ 23,124 ​ $ 39,103

Product Revenue, Net (Tables)

Product Revenue, Net (Tables)	9 Months Ended
	Sep. 30, 2022
Product Revenue, Net
Schedule of allowance for credit losses	The following table summarizes the allowance for credit losses activity on the Company’s trade receivables for the nine-month period ended September 30, 2022 (in thousands): ​ ​ ​ Balance at December 31, 2021 $ 58 Provision for credit losses ​ — Write-offs ​ — Balance at September 30, 2022 $ 58

Stock Compensation (Tables)

Stock Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Stock Compensation
Schedule of Share Based Compensation Stock Options Activities	The following table summarizes stock option activity during the nine months ended September 30, 2022 (under both the 2012 Plan and the 2022 Plan): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Number ​ Weighted ​ Remaining ​ Aggregate ​ ​ of Options ​ Average ​ Contractual ​ Intrinsic Value ​ (in thousands) Exercise Price Term (years) (in thousands) Outstanding at December 31, 2021 2,252 ​ $ 50.28 7.2 ​ $ 408 Granted 493 ​ $ 15.04 — ​ $ — Exercised (29) ​ $ 15.01 — ​ $ 93 Cancelled/forfeited (164) ​ $ 27.60 — ​ $ — Expired (105) ​ $ 99.54 — ​ $ — Outstanding at September 30, 2022 2,447 ​ $ 43.00 7.0 ​ $ 45 Expected to vest 954 ​ $ 21.97 8.7 ​ $ 45 Exercisable 1,493 ​ $ 56.45 5.9 ​ $ —
Schedule of Share Based Compensation Arrangement By Share Based Payment Award Grants in Period Fair Value Assumptions	The Company estimated the fair value of stock options granted in the periods presented utilizing a Black-Scholes option-pricing model utilizing the following assumptions: ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ 2022 2021 ​ Volatility 66.4 - 67.7 % 65.2 - 69.3 % Expected term (in years) 5.5 - 6.0 3.75 - 6.0 Risk-free rate 1.3 - 2.8 % 0.4 - 0.9 % Expected dividend yield — % — %
Schedule of Share-based Compensation, Restricted Stock Units Award Activity	The following table summarizes the aggregate RSU, RSA and PRSU activity during the nine months ended September 30, 2022 (under both the 2012 Plan and the 2022 Plan): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number of ​ Average Grant Date ​ Awards Fair Value ​ ​ (in thousands) ​ ​ ​ Non-vested awards at December 31, 2021 968 ​ $ 39.58 Granted 819 ​ $ 15.69 Vested ​ (411) ​ $ 30.74 Forfeited (193) ​ $ 38.72 Non-vested awards at September 30, 2022 1,183 ​ $ 26.23 ​
Schedule of Stock Based Compensation Expense	Stock-based compensation expense has been reported in the Company’s condensed consolidated statements of operations as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2022 2021 2022 2021 ​ ​ ​ (in thousands) Selling, general and administrative ​ $ 4,411 ​ $ 5,737 ​ $ 12,485 ​ $ 16,255 Research and development ​ 1,377 ​ 1,451 ​ 4,173 ​ 4,626 Restructuring ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total stock-based compensation ​ $ 5,788 ​ $ 7,188 ​ $ 16,658 ​ $ 20,881

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Net income (loss) per common and potential common share (basic and diluted):
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following potentially dilutive securities have been excluded from the computations of diluted weighted average shares outstanding for the three and nine-month periods ended September 30, 2022 and 2021, as the inclusion thereof would have been anti-dilutive: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2022 2021 ​ 2022 2021 ​ ​ (in thousands) ​ (in thousands) Shares issuable upon conversion of Convertible Notes ​ 18,462 ​ 14,806 ​ 23,169 ​ 7,930 Options 2,483 2,692 ​ 2,474 2,722 Unvested restricted stock units 1,233 1,244 ​ 1,351 1,221 Total 22,178 18,742 ​ 26,994 11,873

Overview of Business (Details)

Overview of Business (Details) - Held-for-sale - Ex-U.S. commercial operations $ in Millions	May 05, 2022 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration	$ 405
Additional contingent consideration	$ 45

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jan. 01, 2022	Dec. 31, 2021
Convertible Notes	$ 222,856		$ 539,782
Additional paid-in capital	2,231,667		2,308,653
Accumulated deficit	$ (2,116,063)		(2,489,772)
Accounting Standards Update 2020-06 [Member]
Convertible Notes			539,782
Additional paid-in capital			2,308,653
Accumulated deficit			$ (2,489,772)
Accounting Standards Update 2020-06 [Member] | Cumulative effect, period of adoption, adjustment
Convertible Notes		$ 176,303
Additional paid-in capital		(307,371)
Accumulated deficit		131,068
Accounting Standards Update 2020-06 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Convertible Notes		716,085
Additional paid-in capital		2,001,282
Accumulated deficit		$ (2,358,704)

Discontinued Operations (Narrat

Discontinued Operations (Narratives) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Jul. 01, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	May 05, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Research and development		$ 44,034	$ 44,712	$ 136,753	$ 132,991
Current assets of discontinued operations		0		0			$ 30,138
Current liabilities of discontinued operations		0		0			55,780
TSA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income under TSA recorded within other income, net		1,900		1,900
Research and development		3,100		3,100
Cash inflow under TSA and Sub-license Agreement		1,400		1,400
Held-for-sale | Ex-U.S. commercial operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration						$ 405,000
Additional contingent consideration						$ 45,000
Net after tax gain on disposal of discontinued operations	$ 372,400			372,356
Income under TSA recorded within other income, net			$ 26,187	58,065	$ 78,947
Current assets of discontinued operations		0		0			30,138
Current liabilities of discontinued operations		$ 0		$ 0			$ 55,780
Disposed of by sale | International Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration	405,000
Cash consideration received	366,500
Additional consideration receivable under SPA	$ 38,500

Discontinued Operations (Assets

Discontinued Operations (Assets and Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Discontinued Operations
Total assets classified as discontinued operations in condensed consolidated balance sheets	$ 0	$ 30,138
Total liabilities classified as discontinued operations in condensed consolidated balance sheets	0	55,780
Ex-U.S. commercial operations | Held for sale
Discontinued Operations
Restricted cash		1,581
Accounts receivable, net of allowance for credit losses		19,280
Prepaid expenses and other current assets		3,551
Fixed assets, net		96
Inventory		736
Security deposits		2,332
Other assets		2,562
Total assets classified as discontinued operations in condensed consolidated balance sheets	0	30,138
Accounts payable, accrued expenses and other liabilities		54,436
Long-term other liabilities		1,344
Total liabilities classified as discontinued operations in condensed consolidated balance sheets	$ 0	$ 55,780

Discontinued Operations (Result

Discontinued Operations (Results of operations) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Discontinued Operations
Income tax expense	$ (8,000)	$ 0	$ (8,000)	$ 0
Income from discontinued operations, net of tax	371,540	13,309	400,499	36,673
Ex-U.S. commercial operations | Held-for-sale
Discontinued Operations
Product revenue, net		26,187	58,065	78,947
Cost of sales	169	434	1,194	1,315
Selling, general and administrative	636	12,068	28,083	40,011
Research and development	4	335	255	614
Restructuring		3		198
Other (expense) income, net	(7)	(38)	(390)	(136)
(Loss) income from discontinued operations	(816)	13,309	28,143	36,673
Gain on the sale of the ex-U.S. commercial operations and sublicense	380,356		380,356
Income from discontinued operations, pre-tax	379,540	13,309	408,499	36,673
Income tax expense	(8,000)		(8,000)
Income from discontinued operations, net of tax	$ 371,540	$ 13,309	$ 400,499	$ 36,673

Discontinued Operations (Gain o

Discontinued Operations (Gain on sale of discontinued operations) (Details) - Ex-U.S. commercial operations - Held for sale - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Jul. 01, 2022	Sep. 30, 2022	Sep. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash proceeds			$ 366,500
Transaction costs			(9,901)
Carrying value of net liabilities sold		$ 25,918	25,918
Working capital adjustments			(7,153)
Release of accumulated currency translation adjustments for disposed subsidiaries			7,319
Supply & manufacturing agreement liability		(2,327)	(2,327)
Gain on sale, pre-tax		$ 380,356	380,356
Income tax expense			(8,000)
Net after tax gain on disposal of discontinued operations	$ 372,400		$ 372,356

Discontinued Operations (Net ca

Discontinued Operations (Net cash provided by operating activities) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Discontinued Operations
Net cash provided by operating activities	$ 9,317	$ 39,895
Net cash provided by investing activities - discontinued operations	363,233
Ex-U.S. commercial operations | Held-for-sale
Discontinued Operations
Net income from discontinued operations	400,499	36,673
Adjustment of non-cash activities	4,937	5,562
Decrease (increase) in accounts receivable	18,235	(4,881)
Decrease in prepaid expenses and other current assets	3,746	2,003
Decrease (increase) in inventory	242	(23)
Decrease in security deposits	2,191
Decrease in operating lease liabilities	(386)	(802)
(Decrease) increase in accounts payable, accrued expenses and other current liabilities	(53,647)	1,363
Reclassification of cash proceeds from sale of business to investing activities	(366,500)
Net cash provided by operating activities	9,317	$ 39,895
Proceeds from sale of business, net	363,233
Net cash provided by investing activities - discontinued operations	$ 363,233

Cash, Cash Equivalents and In_3

Cash, Cash Equivalents and Investment Debt Securities (Cash, Cash Equivalents and Investment Debt Securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Cash and cash equivalents:
Cash and Cash Equivalents, Amortized Cost	$ 113,199	$ 84,709
Cash and Cash Equivalents, Gross Unrealized Losses	(4)
Cash and cash equivalents, Fair Value	113,195	84,709
Investment Debt Securities Abstract
Total investments, Amortized Cost	380,128	335,260
Total cash and cash equivalents and investment debt securities, Amortized Cost	493,327	419,969
Allowance for Credit Losses	0
Total investments, Gross Unrealized Gains	1	16
Total cash and cash equivalents and investment debt securities, Gross Unrealized Gains	1	16
Total investments, Gross Unrealized Losses	(2,473)	(296)
Total cash and cash equivalents and investment debt securities, Gross Unrealized Losses	(2,477)	(296)
Total investments, Fair Value	377,656	334,980
Total cash and cash equivalents and investment debt securities, Fair Value	490,851	419,689
Commercial paper
Investment Debt Securities Abstract
Total investments, Amortized Cost	108,091	84,513
Allowance for Credit Losses	0
Total investments, Gross Unrealized Gains	0
Total investments, Gross Unrealized Losses	(254)	(49)
Total investments, Fair Value	107,837	84,464
Corporate debt securities
Investment Debt Securities Abstract
Total investments, Amortized Cost	245,321	232,721
Allowance for Credit Losses	0
Total investments, Gross Unrealized Gains	0	16
Total investments, Gross Unrealized Losses	(2,018)	(245)
Total investments, Fair Value	243,303	232,492
Municipal bonds
Investment Debt Securities Abstract
Total investments, Amortized Cost		5,028
Total investments, Gross Unrealized Losses		(1)
Total investments, Fair Value		5,027
U.S. government agency bonds
Investment Debt Securities Abstract
Total investments, Amortized Cost	11,751
Total investments, Gross Unrealized Gains	1
Total investments, Gross Unrealized Losses	(117)
Total investments, Fair Value	11,635
U.S Treasury securities
Investment Debt Securities Abstract
Total investments, Amortized Cost	14,965	12,998
Total investments, Gross Unrealized Gains	0
Total investments, Gross Unrealized Losses	(84)	(1)
Total investments, Fair Value	14,881	12,997
Cash and money market funds
Cash and cash equivalents:
Cash and Cash Equivalents, Amortized Cost	95,225	76,709
Cash and cash equivalents, Fair Value	95,225	76,709
Commercial paper
Cash and cash equivalents:
Cash and Cash Equivalents, Amortized Cost	13,977	8,000
Cash and Cash Equivalents, Gross Unrealized Losses	(4)
Cash and cash equivalents, Fair Value	13,973	$ 8,000
Corporate debt securities
Cash and cash equivalents:
Cash and Cash Equivalents, Amortized Cost	3,997
Cash and cash equivalents, Fair Value	$ 3,997

Cash, Cash Equivalents and In_4

Cash, Cash Equivalents and Investment Debt Securities (Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Total available for sale securities, Less than 12 months, Fair Value	$ 357,296	$ 295,608
Total available for sale securities Less than 12 months, Gross Unrealized Holding Losses	(2,362)	(296)
Total available for sale securities, More than 12 months, Fair Value	19,110	0
Total available for sale securities more than 12 months, Gross Unrealized Holding Losses	(111)	0
Available-for-sale securities, Total Fair Value	376,406	295,608
Available-for-sale securities, Total Gross Unrealized Losses	(2,473)	(296)
Commercial paper
Total available for sale securities, Less than 12 months, Fair Value	107,837	81,464
Total available for sale securities Less than 12 months, Gross Unrealized Holding Losses	(254)	(49)
Total available for sale securities, More than 12 months, Fair Value	0	0
Total available for sale securities more than 12 months, Gross Unrealized Holding Losses	0	0
Available-for-sale securities, Total Fair Value	107,837	81,464
Available-for-sale securities, Total Gross Unrealized Losses	(254)	(49)
Corporate debt securities
Total available for sale securities, Less than 12 months, Fair Value	224,195	196,120
Total available for sale securities Less than 12 months, Gross Unrealized Holding Losses	(1,906)	(245)
Total available for sale securities, More than 12 months, Fair Value	19,110	0
Total available for sale securities more than 12 months, Gross Unrealized Holding Losses	(111)	0
Available-for-sale securities, Total Fair Value	243,305	196,120
Available-for-sale securities, Total Gross Unrealized Losses	(2,017)	(245)
Municipal bonds
Total available for sale securities, Less than 12 months, Fair Value		5,027
Total available for sale securities Less than 12 months, Gross Unrealized Holding Losses		(1)
Total available for sale securities, More than 12 months, Fair Value		0
Total available for sale securities more than 12 months, Gross Unrealized Holding Losses		0
Available-for-sale securities, Total Fair Value		5,027
Available-for-sale securities, Total Gross Unrealized Losses		(1)
U.S. government agency bonds
Total available for sale securities, Less than 12 months, Fair Value	10,383
Total available for sale securities Less than 12 months, Gross Unrealized Holding Losses	(118)
Total available for sale securities, More than 12 months, Fair Value	0
Total available for sale securities more than 12 months, Gross Unrealized Holding Losses	0
Available-for-sale securities, Total Fair Value	10,383
Available-for-sale securities, Total Gross Unrealized Losses	(118)
U.S Treasury securities
Total available for sale securities, Less than 12 months, Fair Value	14,881	12,997
Total available for sale securities Less than 12 months, Gross Unrealized Holding Losses	(84)	(1)
Total available for sale securities, More than 12 months, Fair Value	0	0
Total available for sale securities more than 12 months, Gross Unrealized Holding Losses	0	0
Available-for-sale securities, Total Fair Value	14,881	12,997
Available-for-sale securities, Total Gross Unrealized Losses	$ (84)	$ (1)

Cash, Cash Equivalents and In_5

Cash, Cash Equivalents and Investment Debt Securities (Narrative) (Details) $ in Millions	Sep. 30, 2022 USD ($) security	Dec. 31, 2021 USD ($) security
Cash, Cash Equivalents and Investment Debt Securities
Number of positions that were in a continuous unrealized loss position for more than twelve months | security	117	97
Accrued investment income receivable | $	$ 1.4	$ 1.3

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value, Marketable Securities Measured on Recurring and Nonrecurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Cash and cash equivalents, fair value disclosure	$ 113,195	$ 84,709
Available-for-sale securities, fair value disclosure	377,656	334,980
Total financial assets	476,603	382,267
Level 1
Total financial assets	95,858	52,284
Level 2
Total financial assets	380,745	329,983
Level 3
Total financial assets	0	0
Money market funds
Cash and cash equivalents, fair value disclosure	80,977	39,287
Money market funds | Level 1
Cash and cash equivalents, fair value disclosure	80,977	39,287
Money market funds | Level 2
Cash and cash equivalents, fair value disclosure	0	0
Money market funds | Level 3
Cash and cash equivalents, fair value disclosure	0	0
Commercial paper
Cash and cash equivalents, fair value disclosure	13,973	8,000
Commercial paper | Level 1
Cash and cash equivalents, fair value disclosure	0	0
Commercial paper | Level 2
Cash and cash equivalents, fair value disclosure	13,973	8,000
Commercial paper | Level 3
Cash and cash equivalents, fair value disclosure	0	0
Corporate debt securities
Cash and cash equivalents, fair value disclosure	3,997
Available-for-sale securities, fair value disclosure	243,303	232,492
Corporate debt securities | Level 1
Cash and cash equivalents, fair value disclosure	0
Available-for-sale securities, fair value disclosure	0	0
Corporate debt securities | Level 2
Cash and cash equivalents, fair value disclosure	3,997
Available-for-sale securities, fair value disclosure	243,303	232,492
Corporate debt securities | Level 3
Cash and cash equivalents, fair value disclosure	0
Available-for-sale securities, fair value disclosure	0	0
Municipal bonds
Available-for-sale securities, fair value disclosure		5,027
Municipal bonds | Level 1
Available-for-sale securities, fair value disclosure		0
Municipal bonds | Level 2
Available-for-sale securities, fair value disclosure		5,027
Municipal bonds | Level 3
Available-for-sale securities, fair value disclosure		0
Commercial Paper, Not Included with Cash and Cash Equivalents [Member]
Available-for-sale securities, fair value disclosure	107,837	84,464
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | Level 1
Available-for-sale securities, fair value disclosure	0	0
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | Level 2
Available-for-sale securities, fair value disclosure	107,837	84,464
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | Level 3
Available-for-sale securities, fair value disclosure	0	0
U.S. government agency bonds
Available-for-sale securities, fair value disclosure	11,635
U.S. government agency bonds | Level 1
Available-for-sale securities, fair value disclosure	0
U.S. government agency bonds | Level 2
Available-for-sale securities, fair value disclosure	11,635
U.S. government agency bonds | Level 3
Available-for-sale securities, fair value disclosure	0
U.S Treasury securities
Available-for-sale securities, fair value disclosure	14,881	12,997
U.S Treasury securities | Level 1
Available-for-sale securities, fair value disclosure	14,881	12,997
U.S Treasury securities | Level 2
Available-for-sale securities, fair value disclosure	0	0
U.S Treasury securities | Level 3
Available-for-sale securities, fair value disclosure	$ 0	$ 0

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Available for Sale Securities Debt Maturities) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value Measurements
Due in one year or less	$ 336,422	$ 305,914
Due after one year through two years	41,234	29,066
Total investment debt securities	$ 377,656	$ 334,980

Fair Value Measurements (Narrat

Fair Value Measurements (Narratives) (Details)	Sep. 30, 2022	Aug. 17, 2021	May 14, 2019	Jul. 06, 2016
2026 convertible secured notes
Debt instrument, interest rate, stated percentage	3.50%	3.50%
2026 Convertible Notes
Debt instrument, interest rate, stated percentage	2%		2%
2023 Convertible Notes
Debt instrument, interest rate, stated percentage	3.25%			3.25%

Fixed Assets, Net (Fixed Assets

Fixed Assets, Net (Fixed Assets Stated at Cost) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Fixed assets	$ 4,985	$ 21,407
Less: accumulated depreciation	(3,709)	(18,126)
Fixed assets, net	1,276	3,281
Office equipment and software
Fixed assets	$ 3,036	4,751
Property, Plant and Equipment, Useful Life	3 years
Leasehold improvements
Fixed assets	$ 669	12,884
Property, Plant and Equipment, Estimated Useful Lives	Shorter of remaining lease term or useful life
Furniture and fixtures
Fixed assets	$ 1,280	$ 3,772
Property, Plant and Equipment, Useful Life	7 years

Inventory (Schedule of Inventor

Inventory (Schedule of Inventory) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Inventory
Work-in-process	$ 6,113	$ 7,801
Finished goods	161	82
Inventory	$ 6,274	$ 7,883

Accounts Payable, Accrued Exp_3

Accounts Payable, Accrued Expenses and Other Liabilities (Schedule of Accounts Payable and Accrued Liabilities) (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended	9 Months Ended
	Feb. 28, 2022	Jun. 30, 2021	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Accounts payable				$ 21,303		$ 17,598
Accrued employee compensation				19,533		20,845
Accrued contracted services				45,745		51,136
Accrued rebates, returns, discounts and other incentives				14,491		11,626
Accrued income taxes payable (see Note 14)				7,380		0
Other liabilities				1,436		2,575
Accounts payable, accrued expenses and other liabilities				$ 109,888		$ 103,780
Additional research and development expense due to foreign currency translation	$ 600
UK tax authority | Foreign tax authority
Percentage of credit eligible from tax authority				33.40%
Other Nonoperating Income		$ 4,200
Research and development expense, decrease				$ 4,000	$ 10,700
Additional research and development expense due to foreign currency translation				$ 500
SME scheme | UK tax authority | Foreign tax authority
Percentage of credit eligible from tax authority				33.40%
RDEC scheme
Research and development expense, decrease			$ 4,000
RDEC scheme | UK tax authority
Research and development expense, decrease	$ 3,800
RDEC scheme | UK tax authority | Foreign tax authority
Percentage of credit eligible from tax authority				12%

Current and Long-Term Debt- Nar

Current and Long-Term Debt- Narratives (Details) - USD ($) $ / shares in Units, $ in Thousands												3 Months Ended		9 Months Ended
	Sep. 09, 2022	Sep. 06, 2022	Sep. 01, 2022	Aug. 18, 2022	Sep. 09, 2021	Aug. 20, 2021	Aug. 17, 2021	Aug. 10, 2021	Jun. 01, 2021	May 14, 2019	Jul. 06, 2016	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Convertible debt														$ 209,391
Stock issued for services						$ 10,000							$ 10,000		$ 10,000
Stock issued for services, (in shares)						769,823
Issue price						$ 12.99
Common stock, par value (in dollars per share)												$ 0.001		$ 0.001		$ 0.001
Loss on extinguishment of debt												$ (91,759)	$ 16,511	$ (91,739)	$ 16,511
2023 Convertible Notes
Debt Instrument [Line Items]
Debt, face amount											$ 460,000
Interest rate											3.25%	3.25%		3.25%
Proceeds from convertible debt											$ 447,600
Cost of debt issued											$ 12,400
Convertible debt, original debt								$ 306,500
Convertible debt								292,400
Interest rate, effective												3.69%	8.42%	3.69%	8.42%
2023 Convertible Notes | Privately negotiated agreements
Debt Instrument [Line Items]
Convertible debt repurchased, face amount					$ 39,900				$ 3,800
Convertible debt repurchased					$ 38,100				$ 3,800
2026 Convertible Notes
Debt Instrument [Line Items]
Debt, face amount										$ 230,000
Interest rate										2%		2%		2%
Proceeds from convertible debt										$ 223,400
Cost of debt issued										$ 6,600
Convertible debt, original debt								114,700
Convertible debt								90,000
Interest rate, effective												2.44%	9.90%	2.44%	9.90%
2026 convertible secured notes
Debt Instrument [Line Items]
Debt, face amount							$ 500,000	$ 117,600
Interest rate							3.50%					3.50%		3.50%
Proceeds from convertible debt							$ 117,600
Convertible debt		$ 5,200	$ 29,900	$ 184,400
Issue price		$ 16.32	$ 18.06	$ 19.70
Convertible debt repurchased, face amount	$ 7,100	$ 9,300	$ 44,500	$ 327,900
Convertible debt repurchased	$ 8,200	$ 5,200	$ 22,700	$ 222,000
Convertible debt (in shares)		318,000	1,653,130	9,358,269
Common stock, par value (in dollars per share)		$ 0.001	$ 0.001	$ 0.001
Interest rate, effective												4.03%	12.80%	4.03%	12.80%
Loss on extinguishment of debt														$ (91,800)

Current and Long-Term Debt (Sch

Current and Long-Term Debt (Schedule of Long-term Debt Instruments and Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Long-term debt outstanding	$ 222,856		$ 222,856		$ 539,782
Interest Expense, Long-term Debt [Abstract]
Contractual interest expense	4,596	$ 5,453	16,337	$ 15,228
Amortization of debt issuance costs	641	634	2,242	1,990
Accretion of debt discount		8,008		21,885
Total interest expense	5,237	14,095	18,579	39,103
2026 Convertible Secured Notes
Long-term debt, gross	111,143		111,143		500,000
Unamortized debt issuance costs	(1,857)		(1,857)		(7,132)
Unamortized debt discount	0		0		(141,303)
Long-term Debt, Total	109,286		109,286		351,565
Equity component, net of issuance costs	0		0		147,458
Interest Expense, Long-term Debt [Abstract]
Contractual interest expense	3,127	2,090	11,877	2,090
Amortization of debt issuance costs	407	149	1,540	149
Accretion of debt discount		2,993		2,993
Total interest expense	3,534	5,232	13,417	5,232
2026 Convertible Notes
Long-term debt, gross	115,349		115,349		115,349
Unamortized debt issuance costs	(1,778)		(1,778)		(2,313)
Unamortized debt discount					(30,228)
Long-term Debt, Total	113,571		113,571		82,808
Equity component, net of issuance costs					62,841
Interest Expense, Long-term Debt [Abstract]
Contractual interest expense	577	876	1,731	3,176
Amortization of debt issuance costs	117	152	349	538
Accretion of debt discount		1,990		7,033
Total interest expense	694	3,018	2,080	10,747
2023 Convertible Notes
Long-term debt, gross	109,808		109,808		113,655
Unamortized debt issuance costs	(356)		(356)		(816)
Unamortized debt discount					(7,430)
Long-term Debt, Total	109,452		109,452		105,409
Equity component, net of issuance costs					$ 97,072
Interest Expense, Long-term Debt [Abstract]
Contractual interest expense	892	2,487	2,729	9,962
Amortization of debt issuance costs	117	333	353	1,303
Accretion of debt discount		3,025		11,859
Total interest expense	$ 1,009	$ 5,845	$ 3,082	$ 23,124

Current and Long-Term Debt - Fa

Current and Long-Term Debt - Fair value of convertible debt (Details) - Level 2 - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
2026 convertible secured notes
Debt Instrument [Line Items]
Fair value of convertible debt	$ 116,112	$ 543,370
2026 Convertible Notes
Debt Instrument [Line Items]
Fair value of convertible debt	87,125	69,492
2023 Convertible Notes
Debt Instrument [Line Items]
Fair value of convertible debt	$ 106,963	$ 107,727

Current and Long-Term Debt - Ex

Current and Long-Term Debt - Exchange of convertible debt - Narratives (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
2026 convertible secured notes
Debt Instrument [Line Items]
Debt instrument liability component effective interest rate	4.03%		12.80%
2026 Convertible Notes
Debt Instrument [Line Items]
Debt instrument liability component effective interest rate	2.44%		9.90%
Convertible debt, unamortized discount		$ 30,228
Equity component, net of issuance costs		62,841
Debt issuance costs	$ 1,778	2,313
2023 Convertible Notes
Debt Instrument [Line Items]
Debt instrument liability component effective interest rate	3.69%		8.42%
Convertible debt, unamortized discount		7,430
Equity component, net of issuance costs		97,072
Debt issuance costs	$ 356	$ 816

Current and Long-Term Debt - No

Current and Long-Term Debt - Note Indentures (Details)	9 Months Ended
	Sep. 30, 2022 D item
Debt Instrument [Line Items]
Debt Instrument, Convertible, Threshold Trading Days	20
Debt Instrument, Convertible, Threshold Consecutive Trading Days	30
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger	130%
Debt Instrument Convertible Threshold Sale Price Of Common Stock Conversion Rate Product Percentage Maximum	98%
Average percentage of closing sale price of common stock	100%
Percentage of repurchase price is equal to principal amount of convertible notes	100%
Minimum
Debt Instrument [Line Items]
Debt Instrument, Default, Threshold Percentage Of Aggregate Principal Amount Of Debt Holders Who Can Declare Due And Payable	25%
Convertible Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Number Of Series Of Convertible Notes | item	3
Debt Instrument, Convertible Threshold Consecutive Business Days	5 days
Debt Instrument, Convertible Threshold Consecutive Trading Day Period	5 days

Current and Long-Term Debt- Ini

Current and Long-Term Debt- Initial conversion of convertible debt (Details)	9 Months Ended
	Sep. 30, 2022 $ / shares
2026 convertible secured notes
Debt Instrument [Line Items]
Initial conversion rate	47.7612
Approximate conversion price	$ 20.94
2026 Convertible Notes
Debt Instrument [Line Items]
Initial conversion rate	9.2123
Approximate conversion price	$ 108.55
2023 Convertible Notes
Debt Instrument [Line Items]
Initial conversion rate	5.0358
Approximate conversion price	$ 198.58

Current and Long-Term Debt- Cap

Current and Long-Term Debt- Capped Call Transactions (Details) - USD ($) $ in Millions	1 Months Ended
	Sep. 30, 2021	Aug. 31, 2021
2023 Convertible Notes
Debt Instrument [Line Items]
Base Capped Call options	113,655
Options terminated	39,859
Options terminated (in shares)	200,000
Convertible debt repurchased	$ 39.9
Base Capped Call options (in shares)	600,000
Exchange of 2023 Convertible Notes
Debt Instrument [Line Items]
Capped Call options		460,000
Base Capped Call options		400,000
Additional Capped Call Options		60,000
Options terminated		306,486
Base Capped Call options, terminated		246,486
Additional Capped Call options, terminated		60,000
Options terminated (in shares)		1,500,000

Current and Long-Term Debt - In

Current and Long-Term Debt - Interest Expense (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Convertible Debt [Member]
Interest payable, current	$ 2,200		$ 8,600
Debt Related Commitment Fees and Debt Issuance Costs	8,700
Cash payments for interest	22,700	$ 17,300
2026 Convertible Notes
Debt issuance costs	1,778		2,313
2023 Convertible Notes
Debt issuance costs	356		816
2023 Convertible Notes | Current portion of long-term debt
Debt issuance costs	400
2026 Convertible Secured Notes and 2026 Convertible Notes | Long-term debt
Debt issuance costs	$ 3,600
2026 Convertible Secured Notes, 2026 Convertible Notes and 2023 Convertible Notes | Long-term debt
Debt issuance costs			$ 10,300

Product Revenue, Net (Narrative

Product Revenue, Net (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Product revenue, net	$ 77,588	$ 66,640	$ 208,491	$ 192,117
Product
Product revenue, net	$ 77,588	$ 66,640	$ 208,491	$ 192,117

Product Revenue, Net (Allowance

Product Revenue, Net (Allowance for credit losses) (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Allowance for credit losses, Rollforward
Balance at the beginning of period	$ 58
Balance at the end of period	$ 58

Research and Development Tax _2

Research and Development Tax Credit (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended	9 Months Ended
	Feb. 28, 2022	Jun. 30, 2021	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Research and development expense decrease, foreign currency translation	$ 0.6
UK tax authority | Foreign tax authority
Percentage of credit eligible from tax authority				33.40%
Other Nonoperating Income		$ 4.2
Research and development expense, decrease				$ 4	$ 10.7
Research and development expense decrease, foreign currency translation				$ 0.5
Cash repayment to the HMRC due to submission of an amended claim.		$ 0.2
SME scheme | UK tax authority | Foreign tax authority
Percentage of credit eligible from tax authority				33.40%
RDEC scheme
Research and development expense, decrease			$ 4
RDEC scheme | UK tax authority
Research and development expense, decrease	$ 3.8
RDEC scheme | UK tax authority | Foreign tax authority
Percentage of credit eligible from tax authority				12%

Stock Compensation (Narrative)

Stock Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Apr. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Granted - Number of Shares				493,000
Exercised aggregate intrinsic value				$ 93
Net proceeds from exercise of stock options		$ 433		433
Incremental compensation expense		3,400
Held-for-sale
Share based compensation expenses		0	$ 1,400	4,400	$ 4,600
Stock options
Share-based compensation not yet recognized		13,200		$ 13,200
Share-based compensation not yet recognized, period				1 year 2 months 23 days
RSUs, RSAs, and PRSUs
Granted - Weighted Average Fair Value				$ 15.69
Share-based compensation not yet recognized, other than options		20,800		$ 20,800
Share-based compensation not yet recognized, period				1 year 6 months 14 days
Granted - Shares				819,000
Forfeited				193,000
PRSUs
Performance period				3 years
Share based compensation expenses		$ 200		$ 700
Shares granted during period for stock based compensation				168,600
PRSUs | Minimum
Payout percentage, as percent of target award		0%		0%
PRSUs | Maximum
Payout percentage, as percent of target award		150%		150%
Equity Incentive Plan ("2022 Plan")
Share based payment award, expiration period	10 years

Stock Compensation (Schedule of

Stock Compensation (Schedule of Share Based Compensation Stock Options Activities) (Details) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares
Stock Compensation
Beginning Outstanding, Number of Shares | shares	2,252
Granted - Number of Shares | shares	493
Exercised - Number of Shares | shares	(29)
Cancelled/forfeited - Number of Shares | shares	(164)
Expired - Number of Shares | shares	(105)
Ending Outstanding, Number of Shares | shares	2,447	2,252
Expected to vest - Number of shares | shares	954
Exercisable - Number of Shares | shares	1,493
Beginning Outstanding, Weighted Average Exercise Price | $ / shares	$ 50.28
Granted - Weighted Average Exercise Price | $ / shares	15.04
Exercised - Weighted Average Exercise Price | $ / shares	15.01
Cancelled/forfeited - Weighted Average Exercise Price | $ / shares	27.60
Expired - Weighted Average Exercise Price | $ / shares	99.54
Ending Outstanding, Weighted Average Exercise Price | $ / shares	43	$ 50.28
Expected to vest - Weighted Average Exercise Price | $ / shares	21.97
Exercisable - Weighted Average Exercise Price | $ / shares	$ 56.45
Options Outstanding - Weighted Average Remaining Life	7 years	7 years 2 months 12 days
Expected to vest - Weighted Average Remaining Term	8 years 8 months 12 days
Exercisable - Weighted Average Remaining Term	5 years 10 months 24 days
Options Outstanding - Aggregate Intrinsic Value | $	$ 45	$ 408
Exercised aggregate intrinsic value | $	93
Expected to vest - Aggregate Intrinsic Value | $	45
Exercisable - Aggregate Intrinsic Value | $	$ 0

Stock Compensation (Schedule _2

Stock Compensation (Schedule of Share Based Compensation Arrangement By Share Based Payment Award Grants in Period Fair Value Assumptions) (Details) - Stock options	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility, minimum	66.40%	65.20%
Volatility, maximum	67.70%	69.30%
Risk-free interest rate, minimum	1.30%	0.40%
Risk-free interest rate, maximum	2.80%	0.90%
Expected dividend yield	0%	0%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years 6 months	3 years 9 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 years	6 years

Stock Compensation (Schedule _3

Stock Compensation (Schedule of Share-based Compensation, Restricted Stock Units and Award Activity) (Details) - RSUs, RSAs, and PRSUs shares in Thousands	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, at beginning period | shares	968
Granted - Shares | shares	819
Vested - Shares | shares	(411)
Forfeited - Shares | shares	(193)
Outstanding, at ending period | shares	1,183
Outstanding - Weighted Average Fair Value, at beginning period | $ / shares	$ 39.58
Granted - Weighted Average Fair Value | $ / shares	15.69
Vested - Weighted Average Fair Value | $ / shares	30.74
Forfeited - Weighted Average Fair Value | $ / shares	38.72
Outstanding - Weighted Average Fair Value, at ending period | $ / shares	$ 26.23

Stock Compensation (Schedule _4

Stock Compensation (Schedule of Stock Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated stock-based compensation	$ 5,788	$ 7,188	$ 16,658	$ 20,881
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated stock-based compensation	4,411	5,737	12,485	16,255
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated stock-based compensation	1,377	1,451	4,173	4,626
Restructuring
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated stock-based compensation	$ 0	$ 0	$ 0	$ 0

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Valuation Allowance [Line Items]
Provision for income taxes recorded with discontinued operations	$ 8,000	$ 0	$ 8,000	$ 0
Provision for income taxes	$ 0	$ 0	0	$ 0
UK tax authority
Valuation Allowance [Line Items]
Provision for income taxes recorded with discontinued operations			6,500
U.S. state jurisdictions
Valuation Allowance [Line Items]
Provision for income taxes recorded with discontinued operations			$ 1,500

Net Loss Per Share (Schedule of

Net Loss Per Share (Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share) (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Antidilutive securities excluded from computation of earnings per share, amount	22,178	18,742	26,994	11,873
Convertible notes
Antidilutive securities excluded from computation of earnings per share, amount	18,462	14,806	23,169	7,930
Stock options
Antidilutive securities excluded from computation of earnings per share, amount	2,483	2,692	2,474	2,722
Restricted stock units (RSUs)
Antidilutive securities excluded from computation of earnings per share, amount	1,233	1,244	1,351	1,221