Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Feb. 15, 2015 | Jun. 30, 2014 |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | FALSE | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | XON | ||
Entity Registrant Name | INTREXON CORP | ||
Entity Central Index Key | 1356090 | ||
Current Fiscal Year End Date | -19 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 104,981,271 | ||
Entity Public Float | $902.20 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets | ||
Cash and cash equivalents | $27,466 | $49,509 |
Short-term investments | 88,495 | 127,980 |
Receivables | ||
Trade, net | 14,582 | 790 |
Related parties | 12,622 | 5,285 |
Note | 1,501 | 0 |
Other | 559 | 1,282 |
Inventory | 25,789 | 0 |
Prepaid expenses and other | 3,759 | 2,710 |
Total current assets | 174,773 | 187,556 |
Long-term investments | 27,113 | 60,581 |
Equity securities | 164,889 | 141,525 |
Property, plant and equipment, net | 38,000 | 16,629 |
Intangible assets, net | 65,947 | 41,956 |
Goodwill | 101,059 | 13,823 |
Investments in affiliates | 3,220 | 6,284 |
Other assets | 1,271 | 1,118 |
Total assets | 576,272 | 469,472 |
Current liabilities | ||
Accounts payable | 6,267 | 1,057 |
Accrued compensation and benefits | 7,736 | 5,157 |
Other accrued liabilities | 5,731 | 4,217 |
Deferred revenue | 16,522 | 7,793 |
Lines of credit | 2,273 | 0 |
Current portion of long term debt | 1,675 | 0 |
Current portion of deferred consideration | 7,064 | 0 |
Related party payables | 214 | 1,605 |
Total current liabilities | 47,482 | 19,829 |
Long term debt, net of current portion | 8,694 | 1,653 |
Deferred consideration, net of current portion | 13,421 | 0 |
Deferred revenue, net of current portion | 96,687 | 65,778 |
Other long term liabilities | 699 | 869 |
Total liabilities | 166,983 | 88,129 |
Commitments and contingencies (Note 16) | ||
Total equity | ||
Common stock, no par value, 200,000,000 shares authorized as of December 31, 2014 and 2013; and 100,557,932 shares and 97,053,712 shares issued and outstanding as of December 31, 2014 and 2013, respectively | 0 | 0 |
Additional paid-in capital | 843,001 | 743,084 |
Accumulated deficit | -458,236 | -376,414 |
Accumulated other comprehensive income (loss) | -4 | 52 |
Total Intrexon shareholders’ equity | 384,761 | 366,722 |
Noncontrolling interests | 24,528 | 14,621 |
Total equity | 409,289 | 381,343 |
Total liabilities and total equity | $576,272 | $469,472 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Statement of Financial Position [Abstract] | ||
Common stock, par value (usd per share) | ||
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 100,557,932 | 97,053,712 |
Common stock, shares outstanding | 100,557,932 | 97,053,712 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Revenues | |||
Collaboration revenues | $45,212 | $23,525 | $13,706 |
Product revenues | 11,481 | 164 | 0 |
Service revenues | 14,761 | 0 | 0 |
Other revenues | 476 | 71 | 68 |
Total revenues | 71,930 | 23,760 | 13,774 |
Operating Expenses | |||
Cost of products | 11,035 | 22 | 0 |
Cost of services | 8,225 | 0 | 0 |
Research and development | 58,983 | 48,143 | 64,034 |
Selling, general and administrative | 63,649 | 33,618 | 24,897 |
Total operating expenses | 141,892 | 81,783 | 88,931 |
Operating loss | -69,962 | -58,023 | -75,157 |
Other Income (Expense) | |||
Unrealized appreciation (depreciation) in fair value of equity securities | -10,469 | 10,443 | -6,290 |
Gain in previously held equity investment | 0 | 7,415 | 0 |
Interest expense | -666 | -141 | -57 |
Interest income | 806 | 166 | 5 |
Other expense, net | -168 | -162 | -101 |
Total other income (expense) | -10,497 | 17,721 | -6,443 |
Equity in net loss of affiliates | -5,260 | -606 | -274 |
Loss before income taxes | -85,719 | -40,908 | -81,874 |
Income tax benefit | 103 | 0 | 0 |
Net loss | -85,616 | -40,908 | -81,874 |
Net loss attributable to the noncontrolling interests | 3,794 | 1,928 | 0 |
Net loss attributable to Intrexon | -81,822 | -38,980 | -81,874 |
Accretion of dividends on redeemable convertible preferred stock | 0 | -18,391 | -21,994 |
Net loss attributable to common shareholders | ($81,822) | ($57,371) | ($103,868) |
Net loss attributable to common shareholders per share, basic and diluted | ($0.83) | ($1.40) | ($18.77) |
Weighted average shares outstanding, basic and diluted | 99,170,653 | 40,951,952 | 5,533,690 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Loss (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Comprehensive Income [Abstract] | |||
Net loss | ($85,616) | ($40,908) | ($81,874) |
Other comprehensive income (loss): | |||
Unrealized gain on investments | 21 | 21 | 0 |
Foreign currency translation adjustments | -33 | 58 | 0 |
Comprehensive loss | -85,628 | -40,829 | -81,874 |
Comprehensive loss attributable to the noncontrolling interests | 3,750 | 1,901 | 0 |
Comprehensive loss attributable to Intrexon | ($81,878) | ($38,928) | ($81,874) |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholders' and Total Equity (Deficit) (USD $) | Total | Common Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Income (Loss) | Accumulated Deficit | Total Intrexon Shareholders’ Equity (Deficit) | Noncontrolling Interests |
In Thousands, except Share data, unless otherwise specified | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |
Beginning balance at Dec. 31, 2011 | ($221,259) | $0 | $0 | ($221,259) | ($221,259) | $0 | |
Beginning balance, shares at Dec. 31, 2011 | 5,453,893 | ||||||
Changes in Stockholders' Equity | |||||||
Stock-based compensation expense | 1,458 | 1,458 | 1,458 | ||||
Exercises of stock options | 473 | 473 | 473 | ||||
Exercises of stock options, shares | 194,570 | ||||||
Contribution of services by shareholder | 1,550 | 1,550 | 1,550 | ||||
Shares issued to nonemployee members of the Board of Directors | 93 | 93 | 93 | ||||
Shares issued to nonemployee members of the Board of Directors, shares | 13,062 | ||||||
Accretion of dividends on redeemable convertible preferred stock | -21,994 | -3,574 | -18,420 | -21,994 | |||
Acquisitions | 0 | ||||||
Net loss | -81,874 | -81,874 | -81,874 | ||||
Ending balance at Dec. 31, 2012 | -321,553 | 0 | 0 | -321,553 | -321,553 | 0 | |
Ending balance, shares at Dec. 31, 2012 | 5,661,525 | ||||||
Changes in Stockholders' Equity | |||||||
Shares issued in IPO or private placement | 168,801 | 168,801 | 168,801 | ||||
Shares issued in IPO or private placement, shares | 11,499,998 | ||||||
Stock-based compensation expense | 2,921 | 2,812 | 2,812 | 109 | |||
Exercises of stock options and warrants | 414 | 410 | 410 | 4 | |||
Exercises of stock options and warrants, shares | 176,531 | ||||||
Contribution of services by shareholder | 1,550 | 1,550 | 1,550 | ||||
Shares issued to nonemployee members of the Board of Directors | 124 | 124 | 124 | ||||
Shares issued to nonemployee members of the Board of Directors, shares | 10,595 | ||||||
Accretion of dividends on redeemable convertible preferred stock | -18,391 | -2,510 | -15,881 | -18,391 | |||
Conversion of redeemable convertible preferred shares, including accrued dividends, to common stock, value | 571,898 | 571,898 | 571,898 | ||||
Conversion of redeemable convertible preferred shares, including accrued dividends, to common stock, shares | 79,705,130 | ||||||
Settlement of fractional shares from reverse stock split, value | -1 | -1 | -1 | ||||
Settlement of fractional shares from reverse stock split, shares | -67 | ||||||
Acquisitions | 0 | ||||||
Adjustments for noncontrolling interests | 16,409 | 16,409 | |||||
Net loss | -40,908 | -38,980 | -38,980 | -1,928 | |||
Other comprehensive income (loss) | 79 | 52 | 52 | 27 | |||
Ending balance at Dec. 31, 2013 | 381,343 | 743,084 | 52 | -376,414 | 366,722 | 14,621 | |
Ending balance, shares at Dec. 31, 2013 | 97,053,712 | 97,053,712 | |||||
Changes in Stockholders' Equity | |||||||
Shares issued in IPO or private placement | 25,000 | 25,000 | 25,000 | ||||
Shares issued in IPO or private placement, shares | 972,004 | ||||||
Stock-based compensation expense | 21,849 | 21,692 | 21,692 | 157 | |||
Exercises of stock options and warrants | 1,489 | 1,477 | 1,477 | 12 | |||
Exercises of stock options and warrants, shares | 374,471 | ||||||
Contribution of services by shareholder | 1,991 | 1,991 | 1,991 | ||||
Shares issued to nonemployee members of the Board of Directors | 486 | 486 | 486 | ||||
Shares issued to nonemployee members of the Board of Directors, shares | 16,908 | ||||||
Accretion of dividends on redeemable convertible preferred stock | 0 | ||||||
Acquisitions | 51,682 | 51,682 | 51,682 | 0 | |||
Acquisitions, shares | 2,140,837 | ||||||
Adjustments for noncontrolling interests | 11,077 | -2,411 | -2,411 | 13,488 | |||
Net loss | -85,616 | -81,822 | -81,822 | -3,794 | |||
Other comprehensive income (loss) | -12 | -56 | -56 | 44 | |||
Ending balance at Dec. 31, 2014 | $409,289 | $843,001 | ($4) | ($458,236) | $384,761 | $24,528 | |
Ending balance, shares at Dec. 31, 2014 | 100,557,932 | 100,557,932 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities | |||
Net loss | ($85,616) | ($40,908) | ($81,874) |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Depreciation and amortization | 10,415 | 7,205 | 7,984 |
Loss on disposal of property, plant and equipment | 208 | 349 | 101 |
Unrealized (appreciation) depreciation on equity securities | 10,469 | -10,443 | 6,290 |
Amortization of discount/premium of investments | 1,357 | 716 | 0 |
Collaboration revenue recognized upon achievement of milestone | 0 | 0 | -3,591 |
Equity in net loss of affiliates | 5,260 | 606 | 274 |
Gain on previously held equity investment | 0 | -7,415 | 0 |
Stock-based compensation expense | 21,849 | 2,921 | 1,458 |
Contribution of services by shareholder | 1,991 | 1,550 | 1,550 |
Shares issued to nonemployee members of the Board of Directors | 486 | 124 | 93 |
Provision for bad debts | 565 | 0 | 0 |
Other noncash items | 723 | -75 | 0 |
Receivables: | |||
Trade | 4,332 | -644 | -121 |
Related parties | -6,117 | -4,967 | -93 |
Note | -1 | 0 | 0 |
Other | 15 | -542 | 1,015 |
Inventory | -7,313 | 0 | 0 |
Prepaid expenses and other | -465 | -347 | -413 |
Other assets | 80 | -18 | 658 |
Accounts payable | 1,266 | -43 | -1,229 |
Accrued compensation and benefits | 1,587 | 1,301 | 2,441 |
Other accrued liabilities | -586 | 1,558 | -806 |
Deferred revenue | 20,934 | -4,368 | 4,997 |
Related party payables | -1,137 | 6 | -180 |
Other long term liabilities | -160 | -249 | -83 |
Net cash used in operating activities | -19,858 | -53,683 | -61,529 |
Cash flows from investing activities | |||
Purchases of investments | -60,478 | -233,979 | -2 |
Sales of investments | 9,100 | 0 | 0 |
Maturities of investments | 122,992 | 44,996 | 0 |
Purchases of equity securities | -19,496 | -28,650 | -10,000 |
Acquisitions of businesses, net of cash received | -67,577 | 517 | 0 |
Investments in affiliates | -2,875 | -5,000 | -6,000 |
Purchases of property, plant and equipment | -6,371 | -1,527 | -7,491 |
Proceeds from sale of property, plant and equipment | 176 | 480 | 23 |
Issuance of notes receivable | -1,500 | -1,000 | -200 |
Proceeds from notes receivable | 0 | 500 | 34 |
Net cash used in investing activities | -26,029 | -223,663 | -23,636 |
Cash flows from financing activities | |||
Proceeds from IPO, net of issuance costs | 0 | 168,801 | 0 |
Proceeds from issuance of shares in private placement | 25,000 | 0 | 0 |
Settlement of fractional shares | 0 | -5 | 0 |
Advances from lines of credit | 4,676 | 0 | 0 |
Repayments of advances from lines of credit | -6,494 | 0 | 0 |
Payments of capital lease obligations | -32 | -51 | -77 |
Proceeds from long term debt | 268 | 493 | 0 |
Payments of long term debt | -647 | -53 | 0 |
Proceeds from stock option exercises | 1,489 | 414 | 473 |
Payment of issuance costs | -256 | -3,148 | -16 |
Net cash provided by financing activities | 24,004 | 316,451 | 75,940 |
Effect of exchange rate changes on cash and cash equivalents | -160 | 1 | 0 |
Net increase (decrease) in cash and cash equivalents | -22,043 | 39,106 | -9,225 |
Cash and cash equivalents | |||
Beginning of period | 49,509 | 10,403 | 19,628 |
End of period | 27,466 | 49,509 | 10,403 |
Supplemental disclosure of cash flow information | |||
Cash paid during the period for interest | 158 | 51 | 12 |
Significant noncash financing and investing activities | |||
Accretion of dividends on redeemable convertible preferred shares | 0 | 18,391 | 21,994 |
Stock received as upfront consideration for collaboration agreements | 14,246 | 19,303 | 21,979 |
Stock received as consideration upon achievement of milestone | 0 | 0 | 18,330 |
Common stock issued in acquisitions | 51,682 | 0 | 0 |
Deferred consideration payable related to acquisition | 20,115 | 0 | 0 |
Accrued investment in affiliate | 0 | 1,500 | 0 |
Purchases of equipment included in accounts payable and other accrued liabilities | 790 | 361 | 24 |
Series E Redeemable Convertible Preferred Stock | |||
Cash flows from financing activities | |||
Proceeds from issuance of redeemable convertible preferred shares | 0 | 0 | 75,560 |
Significant noncash financing and investing activities | |||
Conversion of liabilities into redeemable convertible preferred shares and conversion of redeemable convertible preferred shares, including accrued dividends, to common stock | 219,332 | ||
Accretion of dividends on redeemable convertible preferred shares | 7,931 | 10,465 | |
Series E Redeemable Convertible Preferred Stock | Subscriptions Payable | |||
Significant noncash financing and investing activities | |||
Conversion of liabilities into redeemable convertible preferred shares and conversion of redeemable convertible preferred shares, including accrued dividends, to common stock | 0 | 0 | 7,440 |
Series F Redeemable Convertible Preferred Stock | |||
Cash flows from financing activities | |||
Proceeds from issuance of redeemable convertible preferred shares | 0 | 150,000 | 0 |
Significant noncash financing and investing activities | |||
Conversion of liabilities into redeemable convertible preferred shares and conversion of redeemable convertible preferred shares, including accrued dividends, to common stock | 150,075 | ||
Accretion of dividends on redeemable convertible preferred shares | 3,224 | ||
Common Stock | Common shares issuable upon conversion of all Series Preferred | |||
Significant noncash financing and investing activities | |||
Conversion of liabilities into redeemable convertible preferred shares and conversion of redeemable convertible preferred shares, including accrued dividends, to common stock | $0 | $571,898 | $0 |
Organization_and_Basis_of_Pres
Organization and Basis of Presentation | 12 Months Ended |
Dec. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Basis of Presentation | Organization and Basis of Presentation |
Intrexon Corporation (“Intrexon”), a Virginia corporation, forms collaborations to create biologically based products and processes using synthetic biology. Intrexon has primary operations in California, Florida, Maryland, Virginia, and Budapest, Hungary. There have been no commercialized products derived from Intrexon’s collaborations to date. | |
Trans Ova Genetics, L.C. and Subsidiaries (“Trans Ova”), a provider of bovine reproductive technologies and other genetic processes to cattle breeders and producers, is a wholly owned subsidiary of Intrexon with primary operations in Iowa, Maryland, Missouri, Oklahoma and Texas (Note 3). ViaGen, L.C. (“ViaGen”), a provider of genetic preservation and cloning technologies to the cattle and equine industries, is a wholly owned subsidiary of Trans Ova. Exemplar Genetics, LLC (“Exemplar”), a provider of genetically engineered swine for medical and genetic research, is a consolidated, majority owned subsidiary of Trans Ova. At December 31, 2014, Trans Ova and ViaGen combined owned approximately 51% of Exemplar. | |
At December 31, 2014, Intrexon owned approximately 60% of AquaBounty Technologies, Inc. (“AquaBounty”), a biotechnology company focused on improving productivity in commercial aquaculture (Note 4), and 51% of Biological & Popular Culture, Inc. (“BioPop”) (Note 4). | |
Intrexon Corporation and its consolidated subsidiaries are herein after referred to as the “Company.” | |
Effective July 26, 2013, the Company’s board of directors and shareholders approved a reverse stock split of 1-for-1.75 of the Company’s shares of common stock. Shareholders entitled to fractional shares as a result of the reverse stock split received a cash payment in lieu of receiving fractional shares. Shares of common stock underlying outstanding stock options and warrants were proportionately reduced and the respective exercise prices were proportionately increased in accordance with the terms of the agreements governing such securities. All share and per share data of the Company’s common stock, including shares of common stock underlying stock options and warrants, have been retroactively adjusted in the accompanying consolidated financial statements to reflect the reverse stock split. | |
On August 13, 2013, the Company completed its initial public offering (“IPO”), whereby the Company sold 11,499,998 shares of common stock, inclusive of 1,499,999 shares of common stock sold by the Company pursuant to the full exercise of an overallotment option granted to the underwriters in connection with the IPO, at a price of $16.00 per share. The shares began trading on the New York Stock Exchange (“NYSE”) on August 8, 2013. The aggregate proceeds from the IPO were approximately $168,300, net of underwriting discounts and commissions of approximately $12,900 and offering expenses paid by the Company of approximately $2,800 (of which $2,300 were capitalized). Upon the closing of the IPO, all shares of the Company’s redeemable convertible preferred stock, including accrued but unpaid dividends thereon, converted into 79,705,130 shares of common stock. Additionally, in connection with the closing of the IPO, the Company amended and restated its articles of incorporation to increase the number of authorized shares of common stock to 200,000,000 and decrease the number of authorized shares of undesignated preferred stock to 25,000,000. | |
These consolidated financial statements are presented in United States dollars and are prepared under accounting principles generally accepted in the United States of America (“U.S. GAAP”). |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Accounting Policies [Abstract] | ||||||||||||
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies | |||||||||||
Principles of Consolidation | ||||||||||||
The accompanying consolidated financial statements reflect the operations of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated. | ||||||||||||
Revenue Recognition | ||||||||||||
The Company generates revenue through contractual agreements with collaborators (known as exclusive channel collaborations, “ECC” or “ECCs”) whereby the collaborators obtain exclusive access to the Company’s proprietary technologies for use in the research, development and commercialization of products and/or treatments in a contractually specified field of use. Generally, the terms of these collaborative agreements provide that the Company receives some or all of the following: (i) upfront payments upon consummation of the agreement, (ii) reimbursements for costs incurred by the Company for research and development and/or manufacturing efforts related to specific application provided for in the agreement, (iii) milestone payments upon the achievement of specified development, regulatory and commercial activities, and (iv) royalties on sales of products arising from the collaboration. | ||||||||||||
The Company’s collaboration agreements typically contain multiple elements, or deliverables, including technology licenses, research and development services, and in certain cases manufacturing services. The Company applies the provisions of Accounting Standards Update (“ASU”) No. 2009-13, Revenue Recognition (Topic 605): Multiple Deliverable Revenue Arrangements (“ASU 2009-13”). In accordance with the provisions of ASU 2009-13, the Company identifies the deliverables within the agreements and evaluates which deliverables represent separate units of accounting. Analyzing the agreements to identify deliverables requires the use of judgment. A deliverable is considered a separate unit of accounting when the deliverable has value to the collaborator on a standalone basis based on the consideration of the relevant facts and circumstances for each agreement. | ||||||||||||
Consideration received is allocated at the inception of the agreement to all identified units of accounting based on their relative selling price. When available, the relative selling price for each deliverable is determined using vendor specific objective evidence (“VSOE”) of the selling price or third-party evidence of the selling price, if VSOE does not exist. If neither VSOE nor third-party evidence of the selling price exists, the Company uses its best estimate of the selling price (“BESP”) for the deliverable. The amount of allocable consideration is limited to amounts that are fixed or determinable. The consideration received is allocated among the separate units of accounting, and the applicable revenue recognition criteria are applied to each of the separate units. The Company recognizes the revenue allocated to each unit of accounting as the Company delivers the related goods or services. If the Company determines that certain deliverables should be treated as a single unit of accounting, then the revenue is recognized using either a proportional performance or straight-line method, depending on whether the Company can reasonably estimate the level of effort required to complete its performance obligations under an arrangement and whether such performance obligations are provided on a best-efforts basis. As the Company cannot reasonably estimate its performance obligations related to its collaborators, the Company recognizes revenue on a straight-line basis over the period it expects to complete its performance obligations. | ||||||||||||
The terms of the Company’s agreements may provide for milestone payments upon achievement of certain defined events. The Company applies ASU No. 2010-17, Revenue Recognition — Milestone Method (“ASU 2010-17” or “Milestone Method”). Under the Milestone Method, the Company recognizes consideration that is contingent upon the achievement of a milestone in its entirety as revenue in the period in which the milestone is achieved only if the milestone is substantive in its entirety. A milestone is considered substantive when it meets all of the following criteria: | ||||||||||||
-1 | The consideration is commensurate with either the entity’s performance to achieve the milestone or the enhancement of the value of the delivered item or items as a result of a specific outcome resulting from the entity’s performance to achieve the milestone; | |||||||||||
-2 | The consideration relates solely to past performance; and | |||||||||||
-3 | The consideration is reasonable relative to all of the deliverables and payment terms within the arrangement. | |||||||||||
In the event that a milestone is not considered substantive, the Company recognizes the milestone consideration as revenue using the same method applied to upfront payments. | ||||||||||||
Research and development services are a deliverable satisfied by the Company in accordance with the terms of the collaboration agreements and the Company considers these services to be inseparable from the license to the core technology; therefore, reimbursements of services performed are recognized as revenue. Because reimbursement (i) is contingent upon performance of the services by the Company, (ii) does not include a profit component, and (iii) does not relate to any future deliverable, the revenue is recognized during the period in which the related services are performed and collection of such amounts is reasonably assured. Payments received for manufacturing services will be recognized when the earnings process related to the manufactured materials has been completed. Royalties to be received under the agreements will be recognized as earned. | ||||||||||||
The Company also generates revenue through sales of advanced reproductive technologies, including bovine embryos derived from the Company's embryo transfer and in vitro fertilization processes and from genetic preservation and sexed semen processes and applications of such processes to other livestock, as well as sales of livestock used in production. Revenue is recognized when (i) persuasive evidence of an arrangement exists, (ii) services have been rendered or delivery has occurred such that risk of loss has passed to the customer, (iii) the price is fixed or determinable, and (iv) collection from the customer is reasonably assured. | ||||||||||||
Research and Development | ||||||||||||
The Company considers that regulatory and other uncertainties inherent in the research and development of new products preclude it from capitalizing such costs. Research and development expenses include salaries and related costs of research and development personnel, and the costs of consultants, facilities, materials and supplies associated with research and development projects as well as various laboratory studies. Indirect research and development costs include depreciation, amortization and other indirect overhead expenses. | ||||||||||||
The Company has research and development arrangements with third parties that include upfront and milestone payments and primarily relate to collaborations. At December 31, 2014 and 2013, the Company had research and development commitments with third parties totaling $4,541 and $2,445, respectively, of which $2,183 and $957, respectively, had not yet been incurred. The commitments are generally cancellable by the Company at any time upon written notice. | ||||||||||||
Cash and Cash Equivalents | ||||||||||||
All highly liquid investments with an original maturity of three months or less at the date of purchase are considered to be cash equivalents. Cash balances at a limited number of banks may periodically exceed insurable amounts. The Company believes that it mitigates its risk by investing in or through major financial institutions with high quality credit ratings. Recoverability of investments is dependent upon the performance of the issuer. At December 31, 2014 and 2013, the Company had cash equivalent investments in highly liquid money market accounts at major financial institutions of $16,598 and $43,733, respectively. | ||||||||||||
Short-term and Long-term Investments | ||||||||||||
At December 31, 2014, short-term and long-term investments include U.S. government debt securities and certificates of deposit. The Company determines the appropriate classification as short-term or long-term at the time of purchase based on original maturities and management’s reasonable expectation of sales and redemption. The Company reevaluates such classification at each balance sheet date. The Company’s written investment policy requires investments to be explicitly rated by two of the three following rating services: Standard & Poor’s, Moody’s and/or Fitch and to have a minimum rating of A1, P1 and/or F-1, respectively, from those agencies. In addition, the investment policy limits the amount of credit exposure to any one issuer. | ||||||||||||
Equity Securities | ||||||||||||
The Company holds equity securities received and/or purchased from certain collaborators. Other than investments accounted for using the equity method, the Company elected the fair value option to account for its equity securities held in these collaborators. These equity securities are recorded at fair value at each reporting date and are subject to market price volatility. Unrealized gains and losses resulting from fair value adjustments are reported in the consolidated statement of operations. The fair value of these equity securities is subject to fluctuation in the future due to the volatility of the stock market, changes in general economic conditions and changes in the financial conditions of these collaborators. These equity securities are classified as noncurrent in the consolidated balance sheet as the Company does not intend to sell these equity securities within one year. The Company has not sold any of these equity securities to date. | ||||||||||||
The Company records the fair value of securities received on the date the collaboration is consummated or the milestone is achieved using the closing, quoted price of the collaborator’s security on that date, assuming the transfer of consideration is considered perfunctory. If the transfer of the consideration is not considered perfunctory, the Company considers the specific facts and circumstances to determine the appropriate date on which to evaluate fair value. The Company also evaluates whether any discounts for trading restrictions or other basis for lack of marketability should be applied to the fair value of the securities at inception of the collaboration. In the event the Company concludes that a discount should be applied, the fair value of the securities is adjusted at inception of the collaboration and re-evaluated at each reporting period thereafter. | ||||||||||||
Fair Value of Financial Instruments | ||||||||||||
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset and liability. As a basis for considering such assumptions, the Company uses a three-tier fair value hierarchy that prioritizes the inputs used in its fair value measurements. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: | ||||||||||||
Level 1: | Quoted prices in active markets for identical assets and liabilities; | |||||||||||
Level 2: | Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly; and | |||||||||||
Level 3: | Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available. | |||||||||||
Concentrations of Risk | ||||||||||||
Due to the Company’s mix of fixed and variable rate securities holdings, the Company’s investment portfolio is susceptible to changes in interest rates. As of December 31, 2014, gross unrealized losses on the Company’s investments were not material. From time to time, the Company may liquidate some or all of its investments to fund operational needs or other activities, such as capital expenditures or business acquisitions. Depending on which investments the Company liquidates to fund these activities, the Company could recognize a portion, or all, of the gross unrealized losses. | ||||||||||||
Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of trade receivables. The Company controls credit risk through credit approvals, credit limits and monitoring procedures. The Company performs ongoing credit evaluations of its customers, but generally does not require collateral to support accounts receivable. | ||||||||||||
Equity Method Investments | ||||||||||||
Through March 15, 2013, the Company accounted for its investment in AquaBounty using the equity method of accounting since the Company had the ability to exercise significant influence, but not control, over the operating activities of AquaBounty. The excess of the investment over the Company’s pro-rata share of AquaBounty’s net assets represented identifiable intangible assets and equity-method goodwill. On March 15, 2013, the Company acquired additional ownership interests in AquaBounty which resulted in the Company gaining control over AquaBounty, thereby requiring consolidation effective on that date (Note 4). | ||||||||||||
The Company has entered into three strategic joint ventures (Note 5). The Company accounts for its investments in these joint ventures using the equity method of accounting since the Company has the ability to exercise significant influence, but not control, over the operating activities of these entities. | ||||||||||||
The Company determined that it has significant influence over two of its collaborators, Ziopharm Oncology, Inc. ("Ziopharm") and Oragenics, Inc. ("Oragenics"), as of December 31, 2014 and 2013, based on its ownership interests, representation on the board of directors of the collaborators and other qualitative factors. The Company accounts for its investments in Ziopharm and Oragenics using the fair value option. As of December 31, 2012, the Company determined that one of these collaborators, Ziopharm, met the criteria of SEC Regulation S-X Article 3-9 for inclusion of separate financial statements of an equity method investment. | ||||||||||||
The fair value of the Company’s equity securities of Ziopharm was $83,099 and $71,134 as of December 31, 2014 and 2013, respectively, and is included as equity securities in the respective consolidated balance sheets. The Company’s ownership percentage of Ziopharm was 15.7% and 16.4% at December 31, 2014 and 2013, respectively. Unrealized appreciation (depreciation) in the fair value of the Company’s equity securities held in Ziopharm was $11,965, $4,836, and $(7,194) for the years ended December 31, 2014, 2013 and 2012, respectively. | ||||||||||||
The fair value of the Company’s equity securities of Oragenics was $7,192 and $22,161 as of December 31, 2014 and 2013, respectively, and is included as equity securities in the respective consolidated balance sheets. The Company’s ownership percentage of Oragenics was 24.4% and 24.6% at December 31, 2014 and 2013, respectively. Unrealized appreciation (depreciation) in the fair value of the Company’s equity securities held in Oragenics was $(14,969), $(90), and $3,540 for the years ended December 31, 2014, 2013, and 2012, respectively. | ||||||||||||
Summarized financial data as of December 31, 2014 and 2013, and for the years ended December 31, 2014, 2013, and 2012, for the Company's equity method investments for which separate financial statements are not included, pursuant to SEC Regulation S-X Article 3-09, are as follows: | ||||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Current assets | $ | 19,540 | 26,655 | |||||||||
Non-current assets | 109 | 27 | ||||||||||
Total assets | 19,649 | 26,682 | ||||||||||
Current liabilities | 4,520 | 1,276 | ||||||||||
Net assets | $ | 15,129 | 25,406 | |||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Revenues, net | $ | 940 | $ | 1,032 | $ | — | ||||||
Operating expenses | 17,289 | 18,498 | 578 | |||||||||
Loss from operations | (16,349 | ) | (17,466 | ) | (578 | ) | ||||||
Other | 35 | 137 | (1 | ) | ||||||||
Net loss | $ | (16,314 | ) | $ | (17,329 | ) | $ | (579 | ) | |||
Variable Interest Entities | ||||||||||||
The Company identifies entities that (i) do not have sufficient equity investment at risk to permit the entity to finance its activities without additional subordinated financial support or (ii) in which the equity investors lack an essential characteristic of a controlling financial interest as variable interest entities (“VIE” or “VIEs”). The Company performs an initial and on-going evaluation of the entities with which the Company has variable interests to determine if any of these entities are VIEs. If an entity is identified as a VIE, the Company performs an assessment to determine whether the Company has both (i) the power to direct activities that most significantly impact the VIE’s economic performance and (ii) have the obligation to absorb losses from or the right to receive benefits of the VIE that could potentially be significant to the VIE. If both of these criteria are satisfied, the Company is identified as the primary beneficiary of the VIE. | ||||||||||||
As of December 31, 2014, the Company determined that Genopaver, LLC ("Genopaver"), Intrexon Energy Partners, LLC ("Intrexon Energy Partners"), OvaXon, LLC ("OvaXon") and Persea Bio, LLC ("Persea Bio") were VIEs. The Company was not the primary beneficiary for these entities since it did not have the power to direct the activities that most significantly impact the economic performance of the VIEs. As of December 31, 2013, the Company determined that Genopaver was a VIE. The Company was not the primary beneficiary for this entity since it did not have the power to direct the activities that most significantly impact the economic performance of the VIE. | ||||||||||||
Trade Receivables | ||||||||||||
Trade receivables consist of credit extended to the Company’s customers and collaborators in the normal course of business and are reported net of an allowance for doubtful accounts. The Company reviews its customer accounts on a periodic basis and records bad debt expense for specific amounts the Company evaluates as uncollectible. Past due status is determined based upon contractual terms. Amounts are written off at the point when collection attempts have been exhausted. Management estimates uncollectible amounts considering such factors as current economic conditions and historic and anticipated customer performance. This estimate can fluctuate due to changes in economic, industry or specific customer conditions which may require adjustment to the allowance recorded by the Company. Management has included amounts believed to be uncollectible in the allowance for doubtful accounts. | ||||||||||||
The following table shows the activity in the allowance for doubtful accounts for the year ended December 31, 2014: | ||||||||||||
2014 | ||||||||||||
Beginning balance | $ | — | ||||||||||
Charged to operating expenses | 565 | |||||||||||
Ending balance | $ | 565 | ||||||||||
Inventory | ||||||||||||
The Company's inventory primarily includes adult female cows which are used in certain production processes and are recorded at acquisition cost using the first-in, first-out method or at market, whichever is lower. Work-in-process inventory includes allocations of production costs and facility costs for products currently in production and is recorded at the lower of cost or market. Significant declines in the price of cows could result in unfavorable adjustments to inventory balances. | ||||||||||||
Property, Plant and Equipment | ||||||||||||
Property, plant and equipment are stated at cost, less accumulated depreciation and amortization. Major additions or betterments are capitalized and repairs and maintenance are generally expensed as incurred. Depreciation and amortization is calculated using the straight-line method over the estimated useful lives of the assets. The estimated useful lives of these assets are as follows: | ||||||||||||
Years | ||||||||||||
Buildings and building improvements | 2–23 | |||||||||||
Furniture and fixtures | 1–7 | |||||||||||
Equipment | 1–10 | |||||||||||
Land improvements | 4–15 | |||||||||||
Computer hardware and software | 1–7 | |||||||||||
Leasehold improvements are amortized over the shorter of the useful life of the asset or the applicable lease term, generally one to fourteen years. | ||||||||||||
Goodwill | ||||||||||||
Goodwill represents the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized (Notes 3 and 4). Goodwill is reviewed for impairment at least annually. The Company performs a qualitative assessment to determine whether it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount prior to performing the two-step goodwill impairment test. If this is the case, the two-step goodwill impairment test is required. If it is more-likely-than-not that the fair value of a reporting unit is greater than the carrying amount, the two-step goodwill impairment test is not required. | ||||||||||||
If the two-step goodwill impairment test is required, first, the fair value of the reporting unit is compared with its carrying amount (including goodwill). If the fair value of the reporting unit is less than its carrying amount, an indication of goodwill impairment exists for the reporting unit and the entity must perform step two of the impairment test. Under step two, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation and the residual fair value after this allocation is the implied fair value of the reporting unit goodwill. Fair value of the reporting unit is determined using a discounted cash flow analysis. If the fair value of the reporting unit exceeds its carrying amount, step two does not need to be performed. | ||||||||||||
The Company performs its annual impairment review of goodwill in the fourth quarter, or sooner if a triggering event occurs prior to the annual impairment review. | ||||||||||||
Intangible Assets | ||||||||||||
Intangible assets subject to amortization consist of patents and related technologies and know-how; customer relationships; and trademarks acquired as a result of mergers and acquisitions (Note 3). These intangible assets are subject to amortization, were recorded at fair value at the date of acquisition and are stated net of accumulated amortization. Indefinite-lived intangible assets consist of in-process research and development acquired in mergers and acquisitions (Notes 3 and 4) and were recorded at fair value at the dates of the respective acquisitions. | ||||||||||||
The Company applies the provisions of ASC Topic 350, Intangibles, Goodwill and Other, which requires the amortization of long-lived intangible assets to reflect the pattern in which the economic benefits of the intangible asset are expected to be realized. The intangible assets are amortized over their remaining estimated useful lives, ranging from three to fourteen years for the patents, related technologies and know-how; customer relationships; and trademarks. | ||||||||||||
Impairment of Long-Lived Assets | ||||||||||||
Long-lived assets to be held and used, including property, plant and equipment and intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. Conditions that would necessitate an impairment assessment include a significant decline in the observable market value of an asset, a significant change in the extent or manner in which an asset is used, or a significant adverse change that would indicate that the carrying amount of an asset or group of assets is not recoverable. | ||||||||||||
Indefinite-lived intangible assets, including in-process research and development, are tested for impairment annually, or more frequently if events or circumstances between annual tests indicate that the asset may be impaired. Impairment losses on indefinite-lived intangible assets are recognized based solely on a comparison of their fair value to carrying value, without consideration of any recoverability test. The Company monitors the progression of its in-process research and development, as the likelihood of success is contingent upon commercial development or regulatory approval. | ||||||||||||
Foreign Currency Translation | ||||||||||||
The assets and liabilities of foreign subsidiaries, where the local currency is the functional currency, are translated from their respective functional currencies into United States dollars at the exchange rates in effect at the balance sheet date, with resulting foreign currency translation adjustments recorded in the consolidated statement of comprehensive loss. Revenue and expense amounts are translated at average rates during the period. | ||||||||||||
Income Taxes | ||||||||||||
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to both differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases as well as operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date of the change. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. | ||||||||||||
The Company identifies any uncertain income tax positions and recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest, if any, related to unrecognized tax benefits as a component of interest expense. Penalties, if any, are recorded in selling, general and administrative expenses. | ||||||||||||
Net Loss per Share | ||||||||||||
Basic net loss per share is calculated by dividing net loss attributable to common shareholders by the weighted average shares outstanding during the period, without consideration of common stock equivalents. Diluted net loss per share is calculated by adjusting weighted average shares outstanding for the dilutive effect of common stock equivalents outstanding for the period, using the treasury-stock method. For purposes of the diluted net loss per share calculation, preferred stock, stock options and warrants are considered to be common stock equivalents but are excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive and, therefore, basic and diluted net loss per share were the same for all periods presented. | ||||||||||||
Segment Information | ||||||||||||
The Company has determined that it operates in one segment. The Company applies its technologies to create products and services which may be either sold directly to customers or developed through collaboration with third parties. Substantially all of the Company’s revenues are derived in the United States of America. Substantially all of the Company’s assets are located in the United States of America. As of December 31, 2014, the Company had $2,200 of property and equipment in foreign countries. For the year ended December 31, 2014, the Company recognized $2,166 of revenues earned in foreign countries. | ||||||||||||
Recently Issued Accounting Pronouncements | ||||||||||||
In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-9, Revenue from Contracts with Customers (“ASU 2014-9”). The FASB issued ASU 2014-9 to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP. The standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes the most current revenue recognition guidance. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2016, and is effective for the Company for the year ending December 31, 2017. The Company is currently evaluating the impact that the implementation of this standard will have on the Company’s consolidated financial statements. | ||||||||||||
In June 2014, the FASB issued ASU 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation (“ASU 2014-10”). The provisions of ASU 2014-10 related to Topic 915 will not have a significant impact to the Company. ASU 2014-10 removes an exception provided to development-stage entities in Consolidation (Topic 810) for determining whether an entity is a variable interest entity. The revisions to Consolidation (Topic 810) are effective for interim and annual periods beginning after December 15, 2015, and are effective for the Company for the year ending December 31, 2016. The Company is currently evaluating the impact that the implementation of this standard will have on the Company’s consolidated financial statements. | ||||||||||||
Reclassifications | ||||||||||||
Certain insignificant reclassifications have been made to the prior year consolidated financial statements to conform to the current year presentation. | ||||||||||||
Use of Estimates | ||||||||||||
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. |
Mergers_and_Acquisitions
Mergers and Acquisitions | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Business Combinations [Abstract] | ||||||||||||
Mergers and Acquisitions | Mergers and Acquisitions | |||||||||||
Trans Ova Acquisition | ||||||||||||
On August 8, 2014, the Company acquired 100% of the membership interests of Trans Ova, a provider of bovine reproductive technologies, pursuant to an Amended and Restated Membership Interest Purchase Agreement (the “Purchase Agreement”). Since the acquisition, Trans Ova has continued its operations. The Company and Trans Ova intend to build upon Trans Ova’s current platform with new capabilities with a goal of achieving higher levels of delivered value to dairy and beef cattle producers. Pursuant to the Purchase Agreement, the former members of Trans Ova received an aggregate of 1,444,388 shares of the Company's common stock and $63,625 in cash, and will receive deferred cash consideration valued at $20,115 in exchange for all membership interests of Trans Ova. The deferred cash consideration is payable in three equal installments upon the first, second, and third anniversaries of the transaction date. The Purchase Agreement also provides for payment to the former members of Trans Ova a portion of certain cash proceeds in the event there is an award under certain litigation matters pending as of the transaction date to which Trans Ova is a party. The results of Trans Ova's operations subsequent to August 8, 2014 have been included in the consolidated financial statements, including revenues of $26,352 and net income of $278 for the year ended December 31, 2014. | ||||||||||||
The fair value of the total consideration transferred, including the noncontrolling interest in a majority-owned subsidiary of Trans Ova, was $127,875. The acquisition date fair value of each class of consideration transferred and noncontrolling interest is presented below: | ||||||||||||
Cash | $ | 63,625 | ||||||||||
Common shares | 32,802 | |||||||||||
Deferred cash consideration | 20,115 | |||||||||||
Total consideration transferred | 116,542 | |||||||||||
Fair value of noncontrolling interest | 11,333 | |||||||||||
Total | $ | 127,875 | ||||||||||
The fair value of the shares of the Company’s common stock issued was based on the quoted closing price of the Company’s common stock on August 8, 2014. The estimated fair value of assets acquired and liabilities assumed at the acquisition date is shown in the table below along with subsequent adjustments during the measurement period to the fair value of assets acquired and liabilities assumed. The adjustments resulted from finalizing the valuation of trade receivables, property, plant and equipment and intangible assets. | ||||||||||||
Initial Estimated Fair Value | Adjustments | Adjusted Fair Value | ||||||||||
Cash | $ | 960 | $ | — | $ | 960 | ||||||
Trade receivables | 17,996 | 697 | 18,693 | |||||||||
Related party receivables | 1,219 | — | 1,219 | |||||||||
Inventory | 17,256 | 1,220 | 18,476 | |||||||||
Prepaid expenses and other | 590 | — | 590 | |||||||||
Property, plant and equipment | 18,686 | 2,478 | 21,164 | |||||||||
Intangible assets | 24,100 | (400 | ) | 23,700 | ||||||||
Other non-current assets | 147 | — | 147 | |||||||||
Total assets acquired | 80,954 | 3,995 | 84,949 | |||||||||
Accounts payable | 3,317 | — | 3,317 | |||||||||
Accrued compensation and benefits | 913 | — | 913 | |||||||||
Other accrued liabilities | 271 | — | 271 | |||||||||
Deferred revenue | 2,420 | 2,038 | 4,458 | |||||||||
Lines of credit | 4,091 | — | 4,091 | |||||||||
Related party payables | 1,246 | — | 1,246 | |||||||||
Long term debt | 9,090 | — | 9,090 | |||||||||
Total liabilities assumed | 21,348 | 2,038 | 23,386 | |||||||||
Net assets acquired | 59,606 | 1,957 | 61,563 | |||||||||
Goodwill | 63,913 | 2,399 | 66,312 | |||||||||
Total consideration and fair value of noncontrolling interest | $ | 123,519 | $ | 4,356 | $ | 127,875 | ||||||
The fair value of acquired inventory was determined using the cost approach, which establishes value based on the cost of reproducing or replacing the asset. The fair value of acquired property, plant and equipment was determined using the cost approach and the market approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets. The acquired intangible assets include various developed technologies and know-how, customer relationships, and trademarks, and the fair values of these assets were determined using the relief-from-royalty, multi-period excess earnings, and with-and-without methods, which are all variations of the income approach that convert future cash flows to single discounted present value amounts. The acquired intangible assets are being amortized over useful lives ranging from three to nine years. Goodwill, which will be deductible for tax purposes, represents the assembled workforce, potential future expansion of Trans Ova business lines and anticipated buyer-specific synergies arising from the combination of the Company’s and Trans Ova’s technologies. | ||||||||||||
In conjunction with a prior transaction associated with Trans Ova’s subsidiary, ViaGen, in September 2012, the Company may be obligated to make certain future contingent payments to the former equity holders of ViaGen, up to a total of $6,000 if certain revenue targets, as defined in the share purchase agreement, are met. The Company does not expect these revenue targets to be met and accordingly has assigned no value to this liability. | ||||||||||||
As of December 31, 2014, the Company has incurred $713 of costs primarily for legal and due diligence services related to this acquisition, which are included in selling, general, and administrative expenses in the accompanying consolidated statements of operations for the year ended December 31, 2014. | ||||||||||||
Medistem Acquisition | ||||||||||||
On March 6, 2014, the Company acquired 100% of the outstanding common stock and securities convertible into common stock of Medistem, Inc. (“Medistem”), an entity engaged in the development of Endometrial Regenerative Cells (“ERCs”), for a combination of cash and Company common stock. The acquisition allows the Company to employ its synthetic biology platforms to engineer a diverse array of cell-based therapeutic candidates using Medistem’s multipotent ERCs. Pursuant to the terms of the merger agreement, Medistem equity holders received 714,144 shares of the Company’s common stock and $4,920 in cash in exchange for the outstanding Medistem common stock and securities convertible into common stock. Additionally, Medistem had issued the Company two promissory notes in the amount of $707, including accrued interest, both of which were settled upon closing of the merger. Certain members of Medistem’s management surrendered a total of 17,695 shares of their merger consideration to reimburse the Company for required payroll tax withholdings. The results of Medistem’s operations subsequent to March 6, 2014 have been included in the consolidated financial statements. | ||||||||||||
The fair value of the total consideration transferred was $24,995. The acquisition date fair value of each class of consideration transferred is presented below: | ||||||||||||
Cash | $ | 4,920 | ||||||||||
Common shares | 19,368 | |||||||||||
Settlement of promissory notes | 707 | |||||||||||
$ | 24,995 | |||||||||||
The fair value of the shares of the Company’s common stock issued was based on the quoted closing price of the Company’s common stock on March 6, 2014. The estimated fair value of assets acquired and liabilities assumed at the acquisition date is shown in the table below along with subsequent adjustments during the measurement period to the fair value of assets acquired and liabilities assumed. The adjustments were due to the completed valuation of intangible assets and obtaining final balances of accrued expenses. | ||||||||||||
Initial Estimated Fair Value | Adjustments | Adjusted Fair Value | ||||||||||
Cash | $ | 8 | $ | — | $ | 8 | ||||||
Intangible assets | — | 4,824 | 4,824 | |||||||||
Total assets acquired | 8 | 4,824 | 4,832 | |||||||||
Accounts payable | 644 | — | 644 | |||||||||
Accrued compensation and benefits | 85 | (18 | ) | 67 | ||||||||
Other accrued expenses | 150 | (100 | ) | 50 | ||||||||
Total liabilities assumed | 879 | (118 | ) | 761 | ||||||||
Net assets acquired (liabilities assumed) | (871 | ) | 4,942 | 4,071 | ||||||||
Goodwill | 25,866 | (4,942 | ) | 20,924 | ||||||||
Total consideration | $ | 24,995 | $ | — | $ | 24,995 | ||||||
The fair value of acquired intangible assets was determined using the cost approach. The acquired intangible assets consist of in-process research and development, which is an indefinite-lived intangible asset. The goodwill consists of buyer-specific synergies between the Company’s and Medistem’s technologies present. The goodwill is not expected to be deductible for tax purposes. | ||||||||||||
In conjunction with the acquisition, the Company has incurred $680 of acquisition related costs, of which $310 and $370 is included in selling, general and administrative expenses in the accompanying consolidated statements of operations for the year ended December 31, 2014 and 2013, respectively. | ||||||||||||
Unaudited Condensed Pro Forma Financial Information | ||||||||||||
The results of operations of the mergers and acquisitions discussed above are included in the consolidated statements of operations beginning on the day after their respective acquisition dates. The following unaudited condensed pro forma financial information for the years ended December 31, 2014 and 2013, is presented as if the acquisitions had been consummated on January 1, 2013: | ||||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Pro Forma | ||||||||||||
Revenues | $ | 119,721 | $ | 86,991 | ||||||||
Loss before income taxes | (82,041 | ) | (41,718 | ) | ||||||||
Net loss | (81,938 | ) | (41,718 | ) | ||||||||
Net loss attributable to the noncontrolling interests | 4,159 | 2,766 | ||||||||||
Net loss attributable to Intrexon | (77,779 | ) | (38,952 | ) | ||||||||
Accretion of dividends on redeemable convertible preferred stock | — | (18,391 | ) | |||||||||
Net loss attributable to common shareholders | (77,779 | ) | (57,343 | ) |
Consolidated_MajorityOwned_Sub
Consolidated Majority-Owned Subsidiaries | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Business Combinations [Abstract] | ||||||||
Business Combinations | Consolidated Majority-Owned Subsidiaries | |||||||
AquaBounty | ||||||||
On November 16, 2012, the Company acquired 48,631,444 shares of AquaBounty common stock, representing 47.56% of the then outstanding shares of AquaBounty, for $6,000 through a definitive purchase agreement with an existing AquaBounty shareholder and its affiliate. On November 29, 2012, the Company executed a promissory note purchase agreement (“promissory note”) with AquaBounty. The promissory note allowed for the Company to loan up to $500 to AquaBounty. Draws on the promissory note by AquaBounty accrued annual interest of 3% and matured no later than May 28, 2013. Between December 2012 and February 2013, AquaBounty had drawn $500 on the promissory note. On March 15, 2013, AquaBounty repaid the $500 promissory note plus accrued interest. | ||||||||
On March 15, 2013, the Company acquired 18,714,814 shares of AquaBounty for $4,907 in a private subscription offering, thereby increasing the Company’s ownership in AquaBounty to 53.82%, resulting in the Company consolidating AquaBounty pursuant to the step acquisition guidance in ASC 805, Business Combinations ("ASC 805"). The Company recognized a gain of $7,415 to account for the difference between the carrying value and the fair value of the previously held 47.56% equity interest. The fair value of the consideration transferred included: | ||||||||
Consideration paid | $ | 4,907 | ||||||
Fair value of noncontrolling interest | 15,153 | |||||||
Fair value of the Company’s investment in affiliate held before the business combination | 12,751 | |||||||
Fair value of the consideration transferred and noncontrolling interest | $ | 32,811 | ||||||
The Company used the private subscription price to measure fair value of the Company’s previously held investment and noncontrolling interest. The estimated fair value of assets acquired and liabilities assumed at the acquisition date is shown in the table below. | ||||||||
Cash | $ | 5,419 | ||||||
Short-term investments | 14 | |||||||
Trade receivables | 4 | |||||||
Other receivables | 9 | |||||||
Prepaid expenses and other | 200 | |||||||
Property, plant and equipment | 1,241 | |||||||
Intangible assets | 14,900 | |||||||
Other assets | 22 | |||||||
Total assets acquired | 21,809 | |||||||
Accounts payable | 156 | |||||||
Accrued compensation | 94 | |||||||
Other accrued liabilities | 395 | |||||||
Long-term debt | 1,354 | |||||||
Total liabilities assumed | 1,999 | |||||||
Net assets acquired | 19,810 | |||||||
Goodwill | 13,001 | |||||||
Total consideration and fair value of noncontrolling interest | $ | 32,811 | ||||||
The fair value of acquired intangible assets was determined using the multi-period excess earnings method. The acquired intangible assets consist of in-process research and development until regulatory approval is obtained, at which point the intangible assets will be accounted for as definite-lived intangible assets and amortized over the expected useful life of fifteen years. The goodwill represents future revenue opportunities and the potential for expansion of AquaBounty products and is not expected to be deductible for tax purposes. | ||||||||
The results of operations of AquaBounty are included in the consolidated statement of operations beginning on the acquisition date. The following unaudited condensed pro forma financial information for the years ended December 31, 2013 and 2012, is presented as if the acquisition had been consummated on January 1, 2012: | ||||||||
Year Ended December 31, | ||||||||
2013 | 2012 | |||||||
Pro Forma | ||||||||
Revenues | $ | 23,760 | $ | 13,774 | ||||
Net loss | (48,760 | ) | (78,651 | ) | ||||
Net loss attributable to noncontrolling interest | 2,310 | 2,062 | ||||||
Net loss attributable to Intrexon | (46,450 | ) | (76,589 | ) | ||||
Accretion of dividends on redeemable convertible preferred stock | (18,391 | ) | (21,994 | ) | ||||
Net loss attributable to common shareholders | (64,841 | ) | (98,583 | ) | ||||
The pro forma net loss for the year ended December 31, 2013 excludes the $7,415 non-recurring gain on remeasurement of the Company’s previously held investment in AquaBounty. The pro forma net loss for the year ended December 31, 2012 includes this non-recurring gain on remeasurement. | ||||||||
On March 20, 2014, the Company acquired 19,040,366 additional shares of AquaBounty common stock for $10,000 in a private subscription offering, thereby increasing the Company’s aggregate ownership in AquaBounty to 59.85% upon closing. | ||||||||
See Note 6 for discussion of the Company’s ECC with AquaBounty. | ||||||||
BioPop | ||||||||
On October 1, 2013, the Company paid $1,300 to acquire 51% of the outstanding common stock of BioPop, and effective on that date, the Company began consolidating BioPop in its consolidated results of operations and financial position pursuant to ASC 805. In connection with the transaction, the Company recorded goodwill of $822 and intangible assets of $430. The intangible assets consist of acquired technology and are being amortized over the expected useful life of four years. |
Investments_in_Joint_Ventures
Investments in Joint Ventures | 12 Months Ended |
Dec. 31, 2014 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investments in Joint Ventures | Investments in Joint Ventures |
Intrexon Energy Partners | |
In March 2014, the Company and certain investors (the “Investors”), including an affiliate of Third Security, LLC (“Third Security”), entered into a Limited Liability Company Agreement which governs the affairs and conduct of business of Intrexon Energy Partners, a joint venture formed to optimize and scale-up the Company’s gas-to-liquid bioconversion platform for the production of certain fuels and lubricants. The Company also entered into an ECC with Intrexon Energy Partners providing exclusive rights to our technology for the use in bioconversion, as a result of which the Company received a technology access fee of $25,000 while retaining a 50% membership interest in Intrexon Energy Partners. The Investors made initial capital contributions, totaling $25,000 in the aggregate, in exchange for pro rata membership interests in Intrexon Energy Partners totaling 50%. In addition, the Company committed to make capital contributions of up to $25,000, and the Investors, as a group and pro rata in accordance with their respective membership interests in Intrexon Energy Partners, have committed to make additional capital contributions of up to $25,000, at the request of Intrexon Energy Partners’ Board of Managers (the “Intrexon Energy Partners Board”) and subject to certain limitations. As of December 31, 2014, the Company's remaining commitment was $23,625. The Company and the Investors have the right, but not the obligation, to make additional capital contributions above these limits when and if solicited by the Intrexon Energy Partners Board. Intrexon Energy Partners is governed by a board of managers which has five members. Two members of the board are designated by the Company and three members of the board are designated by a majority of the Investors. | |
See further discussion of the ECC at Note 6. See discussion of a concurrent private placement securities purchase made by the Investors at Note 14. | |
The Company’s investment in Intrexon Energy Partners was $(740) as of December 31, 2014 and is included in other accrued liabilities in the accompanying consolidated balance sheet. | |
OvaXon | |
In December 2013, the Company and OvaScience, Inc. ("OvaScience"), a life sciences company focused on the discovery, development and commercialization of new treatments for infertility, entered into a Limited Liability Company Agreement (“OvaXon LLC Agreement”) to form OvaXon, LLC ("OvaXon"), a joint venture to create new applications for improving human and animal health. Both the Company and OvaScience made an initial capital contribution of $1,500 in January 2014 for a 50% membership interest in OvaXon. OvaXon is governed by the OvaXon board of managers ("OvaXon Board") which has four members, two each from the Company and OvaScience. In cases in which the OvaXon Board determines that additional capital contributions are necessary in order for OvaXon to conduct business and comply with its obligations, each of the Company and OvaScience have the right, but not the obligation, to make additional capital contributions to OvaXon subject to the OvaXon LLC Agreement. | |
Contemporaneously with the formation of the joint venture, the Company entered into an ECC with OvaXon (see Note 6). | |
The Company’s investment in OvaXon was $(83) and $1,500 as of December 31, 2014 and 2013, respectively, and is included in other accrued liabilities and investments in affiliates, respectively, in the accompanying consolidated balance sheets. | |
S & I Ophthalmic | |
In September 2013, the Company entered into a Limited Liability Company Agreement (“Sun LLC Agreement”) with Caraco Pharmaceutical Laboratories, Ltd. ("Sun Pharmaceutical Subsidiary"), an indirect subsidiary of Sun Pharmaceutical Industries Ltd. ("Sun Pharmaceutical"), an international specialty pharmaceutical company focused on chronic diseases, to form S & I Ophthalmic, LLC ("S & I Ophthalmic"). The Sun LLC Agreement governs the affairs and the conduct of business of S & I Ophthalmic. S & I Ophthalmic leverages experience and technology from both the Company and Sun Pharmaceutical. Both the Company and Sun Pharmaceutical Subsidiary made an initial capital contribution of $5,000 in October 2013 for a 50% membership interest in S & I Ophthalmic. S & I Ophthalmic is governed by a board of managers ("S & I Ophthalmic Board") which has four members, two each from the Company and Sun Pharmaceutical Subsidiary. In cases in which the S & I Ophthalmic Board determines that additional capital contributions are necessary in order for S & I Ophthalmic to conduct business and comply with its obligations, each of the Company and Sun Pharmaceutical Subsidiary have committed to making additional capital contributions to S & I Ophthalmic subject to certain limits defined in the agreement. Each has the right, but not the obligation, to make additional capital contributions above the defined limits when and if solicited by the S & I Ophthalmic Board. | |
Beginning on the seventh anniversary of the effective date of the Sun LLC Agreement, and upon the second anniversary thereafter, the Company, as well as Sun Pharmaceutical Subsidiary, may make a cash offer to purchase all of the other party’s interest in S & I Ophthalmic. Upon receipt of such an offer, the other party must either agree to tender its interests at the offered price or submit a counteroffer at a price higher than the original offer. Such offer and counteroffer may continue until one party agrees to the other’s price. | |
Contemporaneously with the formation of the joint venture, the Company entered into an ECC with S & I Ophthalmic (see Note 6). | |
The Company’s investment in S & I Ophthalmic was $3,220 and $4,784 as of December 31, 2014 and 2013, respectively, and is included in investments in affiliates in the accompanying consolidated balance sheets. |
Collaboration_Revenue
Collaboration Revenue | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||
Collaboration Revenue | Collaboration Revenue | |||||||||||
The Company’s collaborations provide for multiple deliverables to be delivered by the Company and typically include a license to the Company’s technology platforms, participation in collaboration committees, the performance of certain research and development services and may include obligations for certain manufacturing services. The Company groups these deliverables into two units of accounting based on the nature of the deliverables and the separation criteria. The first deliverable (“Unit of Accounting 1”) includes the license to the Company’s technology platform, the Company’s participation on the collaboration committees and any research and development services associated with its technology platforms. The deliverables for Unit of Accounting 1 are combined because they cannot be individually separated. The second deliverable (“Unit of Accounting 2”) includes manufacturing services to be provided for any Company materials in an approved product. These services have standalone value and are contingent due to uncertainties on whether an approved product will ever be developed thereby requiring manufacture by the Company at that time. As VSOE and third party evidence of selling price is not available or practical, the BESP for each unit of accounting is determined using a historical cost approach due to the early stage of development of the Company’s technology. In establishing BESP for Unit of Accounting 1, the Company uses the accumulated costs incurred as of the collaboration by the Company on its technology platform licensed to the collaborator to approximate the cost to recreate the deliverables included in this unit of accounting. All upfront consideration is allocated to Unit of Accounting 1. Unit of Accounting 2 is determined to be a contingent deliverable at the inception of the collaboration due to the uncertainties surrounding whether an approved product will ever be developed and require manufacturing by the Company. The upfront consideration allocated to Unit of Accounting 1 is recognized over the expected life of the Company’s technology platform using a straight-line approach. | ||||||||||||
The Company recognizes the reimbursement payments received for research and development services in the period when the services are performed and collection is reasonably assured. At the inception of each collaboration, the Company determines whether any milestone payments are substantive and can be recognized when earned in accordance with ASU 2010-17. The milestone payments are typically not considered substantive. Royalties related to product sales will be recognized when earned since payments relate directly to products that have been fully developed and for which the Company has satisfied all of its obligations. | ||||||||||||
The Company determines whether collaborations are individually significant for disclosure based on a number of factors, including total revenue recorded by the Company pursuant to the collaboration, collaborators either consolidated or accounted for using the equity method, or other qualitative factors. Collaboration revenues generated from consolidated subsidiaries are eliminated in consolidation. The following table summarizes the amounts recorded in the consolidated statements of operations for each significant collaboration for the years ended December 31, 2014, 2013 and 2012. | ||||||||||||
Year Ended December 31, 2014 | ||||||||||||
Collaboration Revenue Recognized From | Total | |||||||||||
Upfront and | Research and | |||||||||||
Milestone Payments | Development Services | |||||||||||
ZIOPHARM Oncology, Inc. | $ | 2,577 | $ | 12,044 | $ | 14,621 | ||||||
Synthetic Biologics, Inc. | 651 | 273 | 924 | |||||||||
Oragenics, Inc. | 1,045 | 598 | 1,643 | |||||||||
Fibrocell Science, Inc. | 1,794 | 4,398 | 6,192 | |||||||||
Genopaver, LLC | 273 | 1,510 | 1,783 | |||||||||
S & I Ophthalmic, LLC | — | 2,832 | 2,832 | |||||||||
OvaXon, LLC | — | 2,799 | 2,799 | |||||||||
Intrexon Energy Partners, LLC | 1,875 | 4,227 | 6,102 | |||||||||
Other | 1,410 | 6,906 | 8,316 | |||||||||
Total | $ | 9,625 | $ | 35,587 | $ | 45,212 | ||||||
Year Ended December 31, 2013 | ||||||||||||
Collaboration Revenue Recognized From | Total | |||||||||||
Upfront and | Research and | |||||||||||
Milestone Payments | Development Services | |||||||||||
ZIOPHARM Oncology, Inc. | $ | 2,577 | $ | 7,818 | $ | 10,395 | ||||||
Synthetic Biologics, Inc. | 2,187 | 1,048 | 3,235 | |||||||||
Oragenics, Inc. | 673 | 1,517 | 2,190 | |||||||||
Fibrocell Science, Inc. | 970 | 3,736 | 4,706 | |||||||||
Genopaver, LLC | 204 | 935 | 1,139 | |||||||||
S & I Ophthalmic, LLC | — | 417 | 417 | |||||||||
Other | 333 | 1,110 | 1,443 | |||||||||
Total | $ | 6,944 | $ | 16,581 | $ | 23,525 | ||||||
Year Ended December 31, 2012 | ||||||||||||
Collaboration Revenue Recognized From | Total | |||||||||||
Upfront and | Research and | |||||||||||
Milestone Payments | Development Services | |||||||||||
ZIOPHARM Oncology, Inc. | $ | 5,068 | $ | 6,333 | $ | 11,401 | ||||||
Synthetic Biologics, Inc. | 293 | 327 | 620 | |||||||||
Oragenics, Inc. | 320 | 516 | 836 | |||||||||
Fibrocell Science, Inc. | 158 | 61 | 219 | |||||||||
Other | 12 | 618 | 630 | |||||||||
Total | $ | 5,851 | $ | 7,855 | $ | 13,706 | ||||||
The following is a summary of the terms of the Company’s significant collaborations. | ||||||||||||
Ziopharm Collaboration | ||||||||||||
In January 2011, the Company entered into an ECC with Ziopharm, a related party. Pursuant to the ECC, Ziopharm received a license to the Company’s technology platform within the field of oncology as defined more specifically in the agreement. Upon execution of the ECC, the Company received 3,636,926 shares of Ziopharm’s common stock valued at $17,457 as upfront consideration. In addition to the deliverables discussed above, the Company transferred two clinical product candidates to Ziopharm that resulted in a separate unit of accounting for which $1,115 of the upfront consideration was allocated and recognized as collaboration revenue in 2011. The remaining $16,342 of upfront consideration was allocated to Unit of Accounting 1 discussed above. The Company is entitled to additional shares of common stock representing the lesser of (i) the original shares received or (ii) the number of shares representing 7.495% of Ziopharm’s outstanding shares at the date of the dosing of the first patient in a Phase II clinical trial of a product candidate created, produced or developed by Ziopharm using the Company’s technology (“Ziopharm Milestone”). In October 2012, the Ziopharm Milestone was achieved and the Company received 3,636,926 shares of Ziopharm’s common stock valued at $18,330 as milestone consideration. Since the Ziopharm Milestone was not substantive, the Company allocated the Ziopharm Milestone to the applicable units of accounting and is recognizing it in a manner similar to these units of accounting. The remaining balance of deferred revenue associated with upfront and milestone payments was $23,193 and $25,770 at December 31, 2014 and 2013, respectively. The Company receives reimbursement payments for research and development services provided and manufacturing services for Company materials provided to Ziopharm during the ECC. Subject to certain expense allocations, Ziopharm will pay the Company 50% of the quarterly net profits derived from the sale of products developed from the ECC, as defined in the agreement. Ziopharm is responsible for conducting preclinical and clinical development of product candidates, as well as for other aspects of commercialization or manufacturing of product candidates. The term of the ECC commenced in January 2011 and continues until terminated pursuant to the ECC agreement. The ECC may be terminated by either party in the event of certain material breaches defined in the agreement and may be terminated voluntarily by Ziopharm upon 90 days written notice to the Company. | ||||||||||||
See Note 17 for additional transactions with Ziopharm. | ||||||||||||
Synthetic Biologics, Inc. Collaborations | ||||||||||||
In November 2011, the Company entered into an ECC with Synthetic Biologics, Inc. (“Synthetic Biologics”), a publicly traded company focused on the development of innovative disease-modifying medicines for serious illnesses and a related party. Pursuant to the ECC, at the transaction effective date, Synthetic Biologics received a license to the Company’s technology platform within a designated field (“Field One”). Upon execution of the ECC, the Company received 3,123,558 shares of Synthetic Biologics’ common stock valued at $1,687 as upfront consideration. On April 16, 2013, the Company terminated its ECC with Synthetic Biologics in Field One. As a result of this termination, all licenses granted by the Company under the ECC for use in Field One reverted back to the Company and the Company recognized the balance of deferred revenue associated with the upfront consideration as collaboration revenue in April 2013. | ||||||||||||
In August 2012, the Company entered into its second ECC with Synthetic Biologics. Pursuant to this ECC, at the transaction effective date, Synthetic Biologics received a license to the Company’s technology platform within a second designated field (“Field Two”). Upon Synthetic Biologics’ shareholders’ approval in October 2012, the Company received a technology access fee of 3,552,210 shares of Synthetic Biologics common stock valued at $7,815 as upfront consideration. Upon the filing by Synthetic Biologics of an investigational new drug application with the U.S. Food and Drug Administration ("U.S. FDA"), the Company will receive cash or common stock at the option of Synthetic Biologics valued at $2,000. Upon the first to occur of either the first commercial sale of a product developed under the ECC or the granting of regulatory approval of a product developed under the ECC, the Company will receive cash or common stock at the option of Synthetic Biologics valued at $3,000. The remaining balance of deferred revenue associated with upfront and milestone payments was $6,349 and $7,000 at December 31, 2014 and 2013, respectively. The Company receives reimbursement payments for research and development services provided pursuant to the agreement and manufacturing services for preclinical Company materials provided to Synthetic Biologics during the ECC. The Company has the option to propose, and Synthetic Biologics can select, the Company to be the bulk manufacturer of products developed from the ECC. On a quarterly basis, Synthetic Biologics will pay the Company royalties with percentages ranging from upper-single digits to lower double digits of net sales of products developed from the ECC, as defined in the agreement. Synthetic Biologics is responsible for conducting preclinical and clinical development of product candidates, as well as for other aspects of commercialization and manufacturing of the product candidates. The term of the ECC commenced in August 2012 and continues until terminated pursuant to the ECC agreement. The ECC may be terminated by either party in the event of certain material breaches defined in the agreement and may be terminated voluntarily by Synthetic Biologics upon 90 days written notice to the Company. | ||||||||||||
In December 2012, the Company received $2,500 from Synthetic Biologics as a prepayment of research and development services to be provided in conjunction with either of the two ECCs. The Company recorded this amount as deferred revenue and recognizes collaboration revenue as services are performed. Any remaining balance of this prepayment is refundable to Synthetic Biologics in the event both ECCs are terminated. | ||||||||||||
See Note 17 for further discussion related to Synthetic Biologics. | ||||||||||||
Oragenics Collaborations | ||||||||||||
In June 2012, the Company entered into an ECC with Oragenics, a publicly traded company focused on becoming the world leader in novel antibiotics against infectious diseases and probiotics for oral health for humans and pets and a related party. Pursuant to the ECC, at the transaction effective date, Oragenics received a license to the Company’s technology platform within the field of lantibiotics for the treatment of infectious diseases in humans and companion animals as defined more specifically in the agreement. Upon execution of the ECC, the Company received a technology access fee of 4,392,425 shares of Oragenics’ common stock valued at $6,588 as upfront consideration. The Company is entitled to receive additional shares of common stock, or at Oragenics’ option, receive a cash payment based upon the fair market value of the shares, upon the separate achievement of certain regulatory milestones of the first product candidate developed from the ECC (“Oragenics ECC 1 Milestones”). The Oragenics ECC 1 Milestones include: (i) 1% of Oragenics’ outstanding shares as defined in the ECC agreement at the date of the filing of the first Investigative New Drug Application with the U.S. FDA for a product candidate created, produced or developed using the Company’s technology (“Oragenics ECC 1 Product”); (ii) 1.5% of Oragenics’ outstanding shares as defined in the ECC agreement at the date of the dosing of the first patient in the first Phase II clinical trial of an Oragenics ECC 1 Product; (iii) 2% of Oragenics’ outstanding shares as defined in the ECC agreement at the date of the dosing of the first patient in the first Phase III clinical trial of an Oragenics ECC 1 Product; (iv) 2.5% of Oragenics’ outstanding shares as defined in the ECC agreement at the date of the first New Drug Application or Biologics License Application with the U.S. FDA for an Oragenics ECC 1 Product, or alternatively the first equivalent regulatory filing with a foreign agency; and (v) 3% of Oragenics’ outstanding shares as defined in the ECC agreement at the date of the granting of the first regulatory approval of an Oragenics ECC 1 Product. The remaining balance of deferred revenue associated with upfront and milestone payments was $5,171 and $5,720 at December 31, 2014 and 2013, respectively. The Company receives reimbursement payments for research and development services provided pursuant to the agreement during the ECC and manufacturing services for Company materials provided to Oragenics during the ECC. Oragenics will pay the Company 25% of the quarterly profits derived from the sale of products developed from the ECC, as defined in the agreement. | ||||||||||||
Oragenics is responsible for funding the further development of lantibiotics toward the goal of commercialization, conducting preclinical and clinical development of product candidates, as well as for other aspects of commercialization or manufacturing of the product candidates. The term of the ECC commenced in June 2012 and continues until terminated pursuant to the ECC agreement. The ECC may be terminated by either party in the event of certain material breaches defined in the agreement and may be terminated voluntarily by Oragenics upon 90 days written notice to the Company. | ||||||||||||
In September 2013, the Company entered into its second ECC with Oragenics (“ECC 2”). Pursuant to ECC 2, at the transaction effective date, Oragenics received a license to the Company’s technology platform to develop and commercialize probiotics, specifically the direct administration to humans of genetically modified probiotics for the treatment of diseases of the oral cavity, throat, sinus and esophagus as defined more specifically in the agreement. Upon execution of ECC 2, the Company received a technology access fee of 1,348,000 shares of Oragenics’ common stock valued at $3,503 and a $1,956 convertible promissory note maturing on or before December 31, 2013 as upfront consideration. Prior to the maturity date, Oragenics had the right to convert the promissory note into shares of Oragenics’ common stock subject to its shareholders’ approval. The conversion price is equal to the closing price of Oragenics’ common stock on the last trading day immediately prior to the date of conversion. On December 18, 2013, Oragenics converted the promissory note into 698,241 shares of Oragenics’ common stock. The Company is entitled to receive additional shares of common stock, or at Oragenics’ option, receive a cash payment based upon the fair market value of the shares, upon the first instance of attainment of certain commercialization milestones of a product candidate developed from ECC 2 (“Oragenics ECC 2 Milestones”). The Oragenics ECC 2 Milestones include: (i) $2,000 within thirty days of the first instance of the achievement of the first dosing of a patient in a phase II clinical trial for an Oragenics product developed from ECC 2 (“Oragenics ECC 2 Product”); (ii) $5,000 within thirty days of the first instance of the achievement of the meeting of the primary endpoint in a phase III clinical trial for an Oragenics ECC 2 Product; and (iii) $10,000 within thirty days of the first instance of the achievement of the first to occur of (a) the first commercial sale of an Oragenics ECC 2 Product anywhere in the world, or (b) the regulatory approval for an Oragenics ECC 2 Product. The remaining balance of deferred revenue associated with upfront and milestone payments was $4,839 and $5,335 at December 31, 2014 and 2013, respectively. The Company receives reimbursement payments for research and development services provided pursuant to the agreement during the ECC and manufacturing services for Company materials provided to Oragenics during ECC 2. Oragenics will pay the Company 10% of the net sales derived from the sale of products developed from ECC 2, as defined in the agreement. | ||||||||||||
Oragenics is responsible for funding the further development of probiotics toward the goal of commercialization, conducting preclinical and clinical development of product candidates, as well as for other aspects of commercialization or manufacturing of the product candidates. The term of ECC 2 commenced in September 2013 and continues until terminated pursuant to ECC 2. ECC 2 may be terminated by either party in the event of certain material breaches defined in the agreement and may be terminated voluntarily by Oragenics upon 90 days written notice to the Company. | ||||||||||||
See Note 17 for additional arrangements with Oragenics. | ||||||||||||
Fibrocell Science, Inc. Collaboration | ||||||||||||
In October 2012, the Company entered into an ECC with Fibrocell Science, Inc. (“Fibrocell”), a publicly traded, autologous cellular therapeutic company focused on the development of innovative products for aesthetic, medical and scientific applications and a related party. Pursuant to the ECC, at the transaction effective date, Fibrocell received a license to the Company’s technology platform to develop and commercialize genetically modified and non-genetically modified autologous fibroblasts and autologous dermal cells in the United States of America. Upon execution of the ECC, the Company received a technology access fee of 1,317,520 shares of Fibrocell’s common stock valued at $7,576 as upfront consideration. The number of shares received reflects a 1-for-25 reverse stock split of Fibrocell’s common stock effective April 30, 2013. The Company receives reimbursement payments for research and development services provided pursuant to the agreement during the ECC and manufacturing services for Company materials provided to Fibrocell during the ECC. On a quarterly basis, Fibrocell will pay the Company royalties of 7% of net sales up to $25,000 and 14% of net sales above $25,000 on each product developed from the ECC, as defined in the agreement. If Fibrocell uses the Company’s technology platform to improve the production of a current or new Fibrocell product not developed from the ECC, Fibrocell will pay the Company a quarterly royalty equal to 33% of the cost of goods sold savings generated by the improvement, as defined in the agreement. Fibrocell is responsible for conducting preclinical and clinical development of product candidates, as well as for other aspects of commercialization and manufacturing of the product candidates. The term of the ECC commenced in October 2012 and continues until terminated pursuant to the ECC agreement. The ECC may be terminated by either party in the event of certain material breaches defined in the agreement and may be terminated voluntarily by Fibrocell upon 90 days written notice to the Company. | ||||||||||||
In June 2013, the Company entered into an amendment to the ECC with Fibrocell. The amendment expands the field of use defined in the ECC agreement. Under the terms of the amendment to the ECC, the Company received 1,243,781 shares of Fibrocell’s common stock valued at $7,612 as a supplemental technology access fee. The Company allocated this additional consideration to the appropriate unit of accounting and is recognizing it consistent with the unit of accounting. | ||||||||||||
In January 2014, the Company entered into a second amendment to the ECC with Fibrocell. The second amendment further expanded the field of use defined in the ECC agreement. Under the terms of the second amendment to the ECC, the Company received 1,024,590 shares of Fibrocell’s common stock valued at $5,225 as a technology access fee. The Company allocated this additional consideration to the appropriate unit of accounting and is recognizing it consistent with the unit of accounting. The remaining balance of deferred revenue associated with upfront and milestone payments was $17,491 and $14,060 at December 31, 2014 and 2013, respectively. | ||||||||||||
See Note 17 for further discussion related to Fibrocell. | ||||||||||||
Genopaver Collaboration | ||||||||||||
In March 2013, the Company entered into an ECC with Genopaver, an affiliate of Third Security (Note 17) and a related party. Genopaver was formed for the purpose of entering into the ECC and developing and commercializing products in the field of the fermentative production of alkaloids through genetically modified cell-lines and substrate feeds for use as active pharmaceutical ingredients or as commercially sold intermediates in the manufacture of active pharmaceutical ingredients. Upon execution of the ECC, the Company received a technology access fee of $3,000 as upfront consideration. The remaining balance of deferred revenue associated with upfront and milestone payments was $2,523 and $2,796 at December 31, 2014 and 2013, respectively. The Company receives reimbursement payments for research and development services provided pursuant to the agreement during the ECC. Genopaver will pay the Company a royalty as a percentage in the lower-double digits on the quarterly gross profits of product sales from products developed under the ECC, as defined in the agreement. Genopaver is responsible for the development and commercialization of the product candidates. The term of the ECC commenced in March 2013 and continues until terminated pursuant to the ECC agreement. The ECC may be terminated by either party in the event of certain material breaches defined in the agreement and may be terminated voluntarily by Genopaver upon 90 days written notice to the Company. | ||||||||||||
AquaBounty Collaboration | ||||||||||||
In February 2013, the Company entered into an ECC with AquaBounty, a majority-owned consolidated subsidiary. The Company will be reimbursed for research and development services as provided for in the ECC agreement. In the event of product sales from a product developed from the ECC, the Company will receive 16.66% of quarterly gross profits for each product, as defined in the agreement. All revenues and expenses related to this ECC are eliminated in consolidation (Note 4). | ||||||||||||
S & I Ophthalmic Collaboration | ||||||||||||
In September 2013, the Company entered into an ECC with S & I Ophthalmic, a joint venture between the Company and Sun Pharmaceutical Subsidiary, an indirect subsidiary of Sun Pharmaceutical, an international specialty pharmaceutical company focused on chronic diseases (Note 5) and a related party. The ECC grants S & I Ophthalmic an exclusive license to the Company’s technology platform to develop and commercialize therapies in humans for the treatment of ocular diseases defined more specifically in the agreement. The Company will be reimbursed for research and development services pursuant to the agreement and manufacturing services for Company materials provided to S & I Ophthalmic during the ECC. Subject to certain expense allocations, S & I Ophthalmic will pay the Company royalties with percentages ranging from mid-single digits and above of the net sales derived from the sale of products developed under the ECC, as defined in the agreement. The term of the ECC commenced in September 2013 and continues until terminated by either party in the event of certain material breaches defined in the agreement and may be terminated voluntarily by S & I Ophthalmic upon 90 days written notice to the Company. | ||||||||||||
BioPop Collaboration | ||||||||||||
In October 2013, the Company entered into an ECC with BioPop, a majority-owned consolidated subsidiary. The ECC grants BioPop an exclusive license to the Company’s technology platform to develop and commercialize artwork, children’s toys and novelty goods that are derived from living organisms or are enabled by synthetic biology. The Company will be reimbursed for research and development services and manufacturing services as provided for in the ECC agreement. The Company is entitled to royalties in the mid-single digits as a percentage of the net product sales of a product developed under the ECC, as defined in the agreement. All revenues and expenses related to this ECC are eliminated in consolidation (Note 4). | ||||||||||||
OvaXon Collaboration | ||||||||||||
In December 2013, the Company entered into an ECC with OvaXon, the joint venture between the Company and OvaScience, a life sciences company focused on infertility treatments (Note 5) and a related party. The ECC grants OvaXon an exclusive license to the Company’s technology platform to create new applications for improving human and animal health. OvaScience also licensed certain technology to OvaXon pursuant to a separate license agreement. The Company will be reimbursed for research and development services and manufacturing services as provided for in the ECC agreement. The term of the ECC commenced in December 2013 and continues until terminated by either party in the event of certain material breaches defined in the agreement and may be terminated voluntarily by OvaXon upon 90 days written notice to the Company. | ||||||||||||
Intrexon Energy Partners Collaboration | ||||||||||||
In March 2014, the Company entered into an ECC with Intrexon Energy Partners, a joint venture between the Company and certain investors, including an affiliate of Third Security (Note 5), and a related party. The ECC grants Intrexon Energy Partners an exclusive license to the Company’s technology platform to optimize and scale-up the Company’s gas-to-liquid bioconversion platform for the production of certain fuels and lubricants. Upon execution of the ECC, the Company received a technology access fee of $25,000 as upfront consideration. The remaining balance of deferred revenue associated with upfront and milestone payments was $23,125 at December 31, 2014. The Company will be reimbursed for research and development services as provided for in the ECC agreement. The term of the ECC commenced in March 2014 and continues until March 2034 unless terminated prior to that date by either party in the event of certain material breaches defined in the agreement and may be terminated voluntarily by Intrexon Energy Partners upon 90 days written notice to the Company. | ||||||||||||
Persea Bio Collaboration | ||||||||||||
In December 2014, the Company entered into an ECC with Persea Bio, an affiliate of Third Security (Note 17) and a related party. Persea Bio was formed for the purpose of entering into the ECC and developing and commercializing a food program, as defined in the agreement. Upon effectiveness of the ECC, the Company was entitled to receive a technology access fee of $5,000 as upfront consideration within ten business days. The Company collected this $5,000 in January 2015. The full amount of the upfront consideration was deferred at December 31, 2014. The Company receives reimbursement payments for research and development services provided pursuant to the agreement during the ECC. Persea Bio will pay the Company a royalty as a percentage in the lower-double digits on the quarterly gross profits of product sales from products derived from the ECC, as defined in the agreement. Persea Bio is responsible for the development and commercialization of the product candidates. The term of the ECC commenced in December 2014 and continues until terminated by either party in the event of certain material breaches defined in the agreement and may be terminated voluntarily by Persea Bio upon 90 days written notice to the Company. | ||||||||||||
Deferred Revenue | ||||||||||||
Deferred revenue primarily consists of consideration received for upfront and milestone payments in connection with the Company’s collaborations, prepayments for research and development services performed for collaborators and prepayments for product and service revenues. Deferred revenue consists of the following: | ||||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Upfront and milestone payments | $ | 107,228 | $ | 72,207 | ||||||||
Prepaid research and development services | 1,045 | 1,319 | ||||||||||
Prepaid product and service revenues | 4,365 | — | ||||||||||
Other | 571 | 45 | ||||||||||
Total | $ | 113,209 | $ | 73,571 | ||||||||
Current portion of deferred revenue | 16,522 | 7,793 | ||||||||||
Long-term portion of deferred revenue | 96,687 | 65,778 | ||||||||||
Total | $ | 113,209 | $ | 73,571 | ||||||||
Shortterm_and_Longterm_Investm
Short-term and Long-term Investments | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||
Short-term and Long-term Investments | Short-term and Long-term Investments | |||||||||||||||
The Company’s investments are classified as available-for-sale. The following table summarizes the amortized cost, gross unrealized gains and losses and fair value of available-for-sale investments as of December 31, 2014: | ||||||||||||||||
Amortized | Gross | Gross | Aggregate | |||||||||||||
Cost | Unrealized | Unrealized | Fair Value | |||||||||||||
Gains | Losses | |||||||||||||||
U.S. government debt securities | $ | 115,293 | $ | 54 | $ | (12 | ) | $ | 115,335 | |||||||
Certificates of deposit | 273 | — | — | 273 | ||||||||||||
Total | $ | 115,566 | $ | 54 | $ | (12 | ) | $ | 115,608 | |||||||
The following table summarizes the amortized cost, gross unrealized gains and losses and fair value of available-for-sale investments as of December 31, 2013: | ||||||||||||||||
Amortized | Gross | Gross | Aggregate | |||||||||||||
Cost | Unrealized | Unrealized | Fair Value | |||||||||||||
Gains | Losses | |||||||||||||||
U.S. government debt securities | $ | 178,277 | $ | 35 | $ | (13 | ) | $ | 178,299 | |||||||
Commercial paper | 7,997 | — | — | 7,997 | ||||||||||||
Certificates of deposit | 2,266 | — | (1 | ) | 2,265 | |||||||||||
Total | $ | 188,540 | $ | 35 | $ | (14 | ) | $ | 188,561 | |||||||
For more information on the Company’s method for determining the fair value of its assets, see Note 2 – “Fair Value of Financial Instruments”. | ||||||||||||||||
The estimated fair value of available-for-sale investments classified by their contractual maturities as of December 31, 2014 was: | ||||||||||||||||
Due within one year | $ | 88,495 | ||||||||||||||
After one year through two years | 27,113 | |||||||||||||||
Total | $ | 115,608 | ||||||||||||||
Changes in market interest rates and bond yields cause certain investments to fall below their cost basis, resulting in unrealized losses on investments. The unrealized losses of the Company’s investments were primarily the result of unfavorable changes in interest rates subsequent to the initial purchase of these investments and have been in a loss position for less than 12 months. | ||||||||||||||||
As of December 31, 2014 and 2013, the Company did not consider any of its investments to be other-than-temporarily impaired. When evaluating its investments for other-than-temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below its cost basis, the financial condition of the issuer, the Company’s ability and intent to hold the security and whether it is more likely than not that it will be required to sell the investment before recovery of its cost basis. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||
Fair Value Measurements | Fair Value Measurements | |||||||||||||||
The carrying amount of cash and cash equivalents, receivables, prepaid expenses and other current assets, accounts payable, accrued compensation and benefits, other accrued liabilities, and related party payables approximate fair value due to the short maturity of these instruments. | ||||||||||||||||
The following table presents the placement in the fair value hierarchy of financial assets that are measured at fair value on a recurring basis, including the items for which the fair value option has been elected, at December 31, 2014: | ||||||||||||||||
Quoted | Significant | Significant | December 31, | |||||||||||||
Prices | Other | Unobservable | 2014 | |||||||||||||
in Active | Observable | Inputs | ||||||||||||||
Markets | Inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||
Assets | ||||||||||||||||
U.S. government debt securities (Note 7) | $ | — | $ | 115,335 | $ | — | $ | 115,335 | ||||||||
Certificates of deposit (Note 7) | — | 273 | — | 273 | ||||||||||||
Equity securities (Note 6) | 143,927 | 20,962 | — | 164,889 | ||||||||||||
$ | 143,927 | $ | 136,570 | $ | — | $ | 280,497 | |||||||||
The following table presents the placement in the fair value hierarchy of financial assets that are measured at fair value on a recurring basis, including the items for which the fair value option has been elected, at December 31, 2013: | ||||||||||||||||
Quoted | Significant | Significant | December 31, | |||||||||||||
Prices | Other | Unobservable | 2013 | |||||||||||||
in Active | Observable | Inputs | ||||||||||||||
Markets | Inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||
Assets | ||||||||||||||||
U.S. government debt securities (Note 7) | $ | — | $ | 178,299 | $ | — | $ | 178,299 | ||||||||
Commercial paper (Note 7) | — | 7,997 | — | 7,997 | ||||||||||||
Certificates of deposit (Note 7) | — | 2,265 | — | 2,265 | ||||||||||||
Equity securities (Note 6) | 110,297 | 31,228 | — | 141,525 | ||||||||||||
$ | 110,297 | $ | 219,789 | $ | — | $ | 330,086 | |||||||||
Financial liabilities measured on a recurring basis were not significant at December 31, 2014 and 2013. | ||||||||||||||||
The method used to estimate the fair value of the Level 1 assets in the tables above is based on observable market data as these equity securities are publicly-traded. The method used to estimate the fair value of the Level 2 short-term and long-term investments in the tables above is based on professional pricing sources for identical or comparable instruments, rather than direct observations of quote prices in active markets. The method used to estimate the fair value of the Level 2 equity securities in the tables above is based on the quoted market price of the publicly-traded security, adjusted for a discount for lack of marketability. | ||||||||||||||||
There were no transfers between levels of the fair value hierarchy in the years ended December 31, 2014 and 2013. |
Inventory
Inventory | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Inventory Disclosure [Abstract] | ||||
Inventory | Inventory | |||
Inventory consists of the following: | ||||
December 31, | ||||
2014 | ||||
Supplies, semen and embryos | $ | 1,184 | ||
Work in process | 5,637 | |||
Livestock | 16,996 | |||
Feed | 1,972 | |||
Total inventory | $ | 25,789 | ||
Property_Plant_and_Equipment_n
Property, Plant and Equipment, net | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ||||||||
Property, Plant and Equipment, net | Property, Plant and Equipment, net | |||||||
Property, plant and equipment consist of the following: | ||||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Land and land improvements | $ | 7,565 | $ | 55 | ||||
Buildings and building improvements | 7,265 | 945 | ||||||
Furniture and fixtures | 1,236 | 876 | ||||||
Equipment | 31,983 | 22,275 | ||||||
Leasehold improvements | 6,382 | 5,147 | ||||||
Computer hardware and software | 5,060 | 4,294 | ||||||
Construction in progress | 1,002 | 314 | ||||||
60,493 | 33,906 | |||||||
Less: Accumulated depreciation and amortization | (22,493 | ) | (17,277 | ) | ||||
Property, plant and equipment, net | $ | 38,000 | $ | 16,629 | ||||
Depreciation expense was $6,178, $4,325 and $4,957 for the years ended December 31, 2014, 2013 and 2012, respectively. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets, net | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||
Goodwill and Intangible Assets, net | Goodwill and Intangible Assets, net | |||||||||||
The changes in the carrying amount of goodwill for the years ended December 31, 2014 and 2013, are as follows: | ||||||||||||
Balance as of December 31, 2012 | $ | — | ||||||||||
Acquisitions | 13,823 | |||||||||||
Balance as of December 31, 2013 | 13,823 | |||||||||||
Acquisitions | 87,236 | |||||||||||
Balance as of December 31, 2014 | $ | 101,059 | ||||||||||
No goodwill or accumulated impairment losses existed as of December 31, 2014 and 2013. | ||||||||||||
Intangible assets consist of the following at December 31, 2014: | ||||||||||||
Gross Carrying | Accumulated | Net | ||||||||||
Amount | Amortization | |||||||||||
Patents, related technologies and know-how | $ | 41,872 | $ | (10,849 | ) | $ | 31,023 | |||||
Customer relationships | 10,700 | (806 | ) | 9,894 | ||||||||
Trademarks | 5,900 | (298 | ) | 5,602 | ||||||||
In-process research and development | 19,428 | — | 19,428 | |||||||||
Total | $ | 77,900 | $ | (11,953 | ) | $ | 65,947 | |||||
Intangible assets consist of the following at December 31, 2013: | ||||||||||||
Gross Carrying | Accumulated | Net | ||||||||||
Amount | Amortization | |||||||||||
Patents, related technologies and know-how | $ | 34,772 | $ | (7,716 | ) | $ | 27,056 | |||||
In-process research and development | 14,900 | — | 14,900 | |||||||||
Total | $ | 49,672 | $ | (7,716 | ) | $ | 41,956 | |||||
Amortization expense was $4,237, $2,880 and $3,027 for the years ended December 31, 2014, 2013 and 2012, respectively. At December 31, 2014, the weighted average useful life for patents, related technologies and know-how; customer relationships; and trademarks was 11.5 years, 6.5 years, and 8.4 years, respectively. Total amortization expense is estimated to be $6,321 for each year from 2015 through 2016, $6,072 for 2017, $5,462 for 2018, $5,139 for 2019, and $17,204 for the cumulative period thereafter. |
Lines_of_Credit_and_Long_Term_
Lines of Credit and Long Term Debt | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Debt Disclosure [Abstract] | ||||||||
Lines of Credit and Long Term Debt | Lines of Credit and Long Term Debt | |||||||
Lines of Credit | ||||||||
Trans Ova has a $10,000 revolving line of credit with First National Bank of Omaha which matures on May 1, 2015. The line of credit bears interest at the greater of 2.95% above the London Interbank Offered Rate or 3.00% and was 3.12% at December 31, 2014. As of December 31, 2014, there was an outstanding balance of $1,728. The amount available under the line of credit is based on the greater of eligible accounts receivable and inventory or the maximum line of credit amount. As of December 31, 2014, the amount available under the line of credit was $8,272. | ||||||||
Trans Ova's revolving line of credit is collateralized by certain of its assets and contain certain restricted covenants that include maintaining minimum tangible net worth, maximum allowable annual capital expenditures and working capital. Trans Ova was in compliance with these covenants as of December 31, 2014. | ||||||||
Exemplar has a $700 revolving line of credit with American State Bank which matures on November 1, 2015. The line of credit bears interest at 4.50% per annum. As of December 31, 2014, there was an outstanding balance of $545. As of December 31, 2014, the amount available under the line of credit was $155. | ||||||||
Long Term Debt | ||||||||
Long term debt consists of the following: | ||||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Notes payable | $ | 7,653 | $ | — | ||||
Royalty-based financing | 1,926 | 1,653 | ||||||
Other | 790 | — | ||||||
Long term debt | 10,369 | 1,653 | ||||||
Less current portion | 1,675 | — | ||||||
Long term debt, less current portion | $ | 8,694 | $ | 1,653 | ||||
Trans Ova has a note payable with American State Bank which matures in April 2033 and has an outstanding principal balance of $5,952 as of December 31, 2014. Trans Ova pays monthly installments of $39, which includes interest at 3.95%. The note payable is collateralized by all of Trans Ova's assets. | ||||||||
Trans Ova has a note payable with the Iowa Economic Development Authority which matures in July 2016 and has an outstanding principal balance of $1,099 as of December 31, 2014. Trans Ova pays quarterly installments of $183. The note payable is collateralized by certain of Trans Ova's real estate. | ||||||||
Exemplar has notes payable with outstanding principal balances totaling $602 as of December 31, 2014. Exemplar pays monthly installments ranging from $1 to $4 with interest rates ranging from 0% to 3.00%. These notes mature from September 2018 to May 2020 and are collateralized by certain of Exemplar's real estate or letters of credit of certain of its members. | ||||||||
AquaBounty has a royalty-based financing grant from the Atlantic Canada Opportunities Agency ("ACOA"), a Canadian government agency, to provide funding of a research and development project. The total amount available under the award is $2,470, which AquaBounty can claim over a five year period. All amounts claimed by AquaBounty must be repaid in the form of a 10% royalty on any products commercialized out of this research and development project until fully paid. Because the timing of commercialization is subject to regulatory approval, the timing of repayment is uncertain. As of the acquisition date, AquaBounty had claimed $1,952 of the available funds and this amount was recorded at its acquisition date fair value of $1,107 (Note 4). The Company accretes the difference of $845 between the face value of amounts drawn and the acquisition date fair value over the expected period of repayment. Since the acquisition date and through December 31, 2014, AquaBounty has made subsequent claims of $767 resulting in total long term debt of $1,926 as of December 31, 2014. | ||||||||
Future maturities of long term debt are as follows: | ||||||||
2015 | $ | 1,675 | ||||||
2016 | 894 | |||||||
2017 | 363 | |||||||
2018 | 360 | |||||||
2019 | 336 | |||||||
Thereafter | 4,815 | |||||||
Total | $ | 8,443 | ||||||
The AquaBounty royalty-based financing grant is not included in the table above due to the uncertainty of the timing of repayment. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Income Taxes | Income Taxes | |||||||||||
For the year ended December 31, 2014, domestic loss before income taxes totaled $83,256, while foreign loss before income taxes totaled $2,463. For the year ended December 31, 2013, domestic loss before income taxes totaled $39,250, while foreign loss before income taxes totaled $1,658. For the year ended December 31, 2012, loss before income taxes was solely domestic. The Company recognized a current tax benefit of $103 in a foreign jurisdiction during the year ended December 31, 2014. There is no deferred income tax benefit recognized for the year ended December 31, 2014, nor current or deferred income tax benefits recognized for the years ended December 31, 2013 and 2012 due to the Company’s and its subsidiaries’ histories of net losses combined with an inability to confirm recovery of the tax benefits of the Company’s and its subsidiaries’ losses and other net deferred tax assets. Income tax benefit for the years ended December 31, 2014, 2013 and 2012 differed from amounts computed by applying the applicable U.S. federal corporate income tax rate of 34% to loss before income taxes as a result of the following: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Computed statutory income tax benefit | $ | (29,144 | ) | $ | (13,909 | ) | $ | (27,837 | ) | |||
Increase in income tax benefit resulting from State income tax benefit, net of federal income taxes | (3,544 | ) | (1,834 | ) | (3,711 | ) | ||||||
Nondeductible stock based compensation | 1,386 | 575 | 333 | |||||||||
Contribution of services by shareholder | 677 | 527 | 527 | |||||||||
Gain in previously held equity investment | — | (2,477 | ) | — | ||||||||
Research and development tax credits | 258 | (1,203 | ) | — | ||||||||
Other, net | 1,503 | 1,317 | (238 | ) | ||||||||
(28,864 | ) | (17,004 | ) | (30,926 | ) | |||||||
Change in valuation allowance for deferred tax assets | 28,761 | 17,004 | 30,926 | |||||||||
Total income tax provision | $ | (103 | ) | $ | — | $ | — | |||||
The tax effects of temporary differences that comprise the deferred tax assets and liabilities at December 31, 2014 and 2013, are as follows: | ||||||||||||
2014 | 2013 | |||||||||||
Deferred tax assets | ||||||||||||
Allowance for doubtful accounts | $ | 783 | $ | — | ||||||||
Equity securities | 4,694 | 415 | ||||||||||
Property, plant and equipment | 79 | — | ||||||||||
Accrued liabilities and long-term debt | 2,703 | 1,445 | ||||||||||
Stock-based compensation | 8,283 | 1,677 | ||||||||||
Deferred revenue | 43,774 | 28,456 | ||||||||||
Research and development tax credits | 9,661 | 10,062 | ||||||||||
Net operating loss carryforwards | 103,114 | 97,395 | ||||||||||
Total deferred tax assets | 173,091 | 139,450 | ||||||||||
Less: Valuation allowance | 161,660 | 131,985 | ||||||||||
Net deferred tax assets | 11,431 | 7,465 | ||||||||||
Deferred tax liabilities | ||||||||||||
Property, plant and equipment | — | 140 | ||||||||||
Intangible assets | 11,431 | 7,325 | ||||||||||
Total deferred tax liabilities | 11,431 | 7,465 | ||||||||||
Net deferred tax assets (liabilities) | $ | — | $ | — | ||||||||
Activity within the valuation allowance for deferred tax assets during the years ended December 31, 2014, 2013 and 2012 was as follows: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Valuation allowance at beginning of year | $ | 131,985 | $ | 113,051 | $ | 82,125 | ||||||
Increase in valuation allowance as a result of | ||||||||||||
Mergers and acquisitions, net | 914 | 1,930 | — | |||||||||
Current year operations | 28,761 | 17,004 | 30,926 | |||||||||
Valuation allowance at end of year | $ | 161,660 | $ | 131,985 | $ | 113,051 | ||||||
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Due to the Company and its subsidiaries’ histories of net losses incurred from inception, no income tax benefit has been recorded and the corresponding deferred tax assets have been fully reserved as the Company and its subsidiaries cannot sufficiently be assured that these deferred tax assets will be realized in accordance with the provisions of ASC 740. The components of the deferred tax assets and liabilities as of the date of the mergers and acquisitions by the Company prior to consideration of the valuation allowance are substantially similar to the components of deferred tax assets presented herein. | ||||||||||||
The American Taxpayer Relief Act of 2012, which retroactively reinstated the federal research and development tax credit for 2012, was not enacted into law until January 2013. Therefore, the deferred tax asset and corresponding increase in the valuation allowance for the amount of the tax credit generated in 2012 are reflected in 2013 for financial statement purposes. | ||||||||||||
The Company’s past issuances of stock and mergers and acquisitions have resulted in ownership changes as defined in Section 382 of the Internal Revenue Code of 1986. As a result, utilization of portions of the net operating losses may be subject to annual limitations. As of December 31, 2014, approximately $16,400 of the Company’s net operating losses generated prior to 2008 are limited by Section 382 to annual usage limits of approximately $1,500. As of December 31, 2014, approximately $19,100 of the Company’s net operating losses were inherited via acquisition and are limited based on the value of the target at the time of the transaction. | ||||||||||||
At December 31, 2014, the Company has loss carryforwards for federal income tax purposes of approximately $254,528 available to offset future taxable income and federal and state research and development tax credits of $6,770, prior to consideration of annual limitations that may be imposed under Section 382. These carryforwards will begin to expire in 2022. Of these loss carryforwards, $8,856 relate to benefits from stock compensation deductions that will be recorded as a component of paid-in capital when realized. The Company's direct foreign subsidiary has foreign loss carryforwards of approximately $11,800 that do not expire. | ||||||||||||
The Company does not record deferred taxes on the undistributed earnings of its direct foreign subsidiary because it does not expect the temporary differences related to those unremitted earnings to reverse in the foreseeable future. At December 31, 2014, the Company’s direct foreign subsidiary had accumulated earnings of approximately $196. Future distributions of accumulated earnings of the Company’s direct foreign subsidiary may be subject to U.S. income and foreign withholding taxes. | ||||||||||||
The Company does not file a consolidated income tax return with AquaBounty or BioPop. At December 31, 2014, AquaBounty has loss carryforwards for federal and foreign income tax purposes of approximately $12,500 and $4,600, respectively, available to offset future taxable income and foreign research and development tax credits of $2,600, prior to consideration of annual limitations that may be imposed under Section 382 or analogous foreign provisions. These carryforwards will begin to expire in 2018. As a result of the Company’s ownership in AquaBounty passing 50% in 2013, an annual Section 382 of approximately $900 per year will apply to losses and credits carried forward by AquaBounty from prior years, which are also subject to prior Section 382 limitations. At December 31, 2014, BioPop had an insignificant amount of loss carryforwards for federal income tax purposes available to offset future taxable income. | ||||||||||||
The Company and its subsidiaries apply provisions related to the accounting for uncertain income tax positions in ASC 740-10. The Company and its subsidiaries do not have material unrecognized tax benefits as of December 31, 2014. The Company does not anticipate significant changes in the amount of unrecognized tax benefits in the next 12 months. The Company’s tax returns for years 2004 and forward are subject to examination by federal or state tax authorities due to the carryforward of unutilized net operating losses and research and development tax credits. |
Redeemable_Convertible_Preferr
Redeemable Convertible Preferred Stock and Shareholders' Equity | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||
Redeemable Convertible Preferred Stock and Shareholders' Equity | Redeemable Convertible Preferred Stock and Shareholders’ Equity | ||||||||||||||||||||
Redeemable Convertible Preferred Stock | |||||||||||||||||||||
The tables below represent a rollforward of the Redeemable Convertible Preferred Stock: | |||||||||||||||||||||
Series A | Series B | Series B-1 | |||||||||||||||||||
Redeemable | Redeemable | Redeemable | |||||||||||||||||||
Convertible | Convertible | Convertible | |||||||||||||||||||
Preferred Stock | Preferred Stock | Preferred Stock | |||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||
Balances at December 31, 2011 | 705,400 | $ | 802 | 694,000 | $ | 639 | 1,212,360 | $ | 1,300 | ||||||||||||
Accretion of dividends | — | 556 | — | 30 | — | 60 | |||||||||||||||
Balances at December 31, 2012 | 705,400 | 1,358 | 694,000 | 669 | 1,212,360 | 1,360 | |||||||||||||||
Accretion of dividends | — | 52 | — | 19 | — | 37 | |||||||||||||||
Conversion to common stock | (705,400 | ) | (1,410 | ) | (694,000 | ) | (688 | ) | (1,212,360 | ) | (1,397 | ) | |||||||||
Balances at December 31, 2013 | — | $ | — | — | $ | — | — | $ | — | ||||||||||||
Series C | Series C-1 | Series C-2 | |||||||||||||||||||
Redeemable | Redeemable | Redeemable | |||||||||||||||||||
Convertible | Convertible | Convertible | |||||||||||||||||||
Preferred Stock | Preferred Stock | Preferred Stock | |||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||
Balances at December 31, 2011 | 4,546,360 | $ | 6,729 | 15,934,528 | $ | 32,264 | 18,617,020 | $ | 41,987 | ||||||||||||
Accretion of dividends | — | 405 | — | 1,937 | — | 2,525 | |||||||||||||||
Balances at December 31, 2012 | 4,546,360 | 7,134 | 15,934,528 | 34,201 | 18,617,020 | 44,512 | |||||||||||||||
Accretion of dividends | — | 266 | — | 1,272 | — | 1,660 | |||||||||||||||
Conversion to common stock | (4,546,360 | ) | (7,400 | ) | (15,934,528 | ) | (35,473 | ) | (18,617,020 | ) | (46,172 | ) | |||||||||
Balances at December 31, 2013 | — | $ | — | — | $ | — | — | $ | — | ||||||||||||
Series C-3 | Series D | Series E | |||||||||||||||||||
Redeemable | Redeemable | Redeemable | |||||||||||||||||||
Convertible | Convertible | Convertible | |||||||||||||||||||
Preferred Stock | Preferred Stock | Preferred Stock | |||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||
Balances at December 31, 2011 | 13,297,872 | $ | 28,082 | 19,803,685 | $ | 71,924 | 22,285,716 | $ | 117,954 | ||||||||||||
Issuance of shares | — | — | — | — | 15,809,523 | 83,000 | |||||||||||||||
Accretion of dividends | — | 1,688 | — | 4,328 | — | 10,465 | |||||||||||||||
Stock issuance costs | — | — | — | — | — | (16 | ) | ||||||||||||||
Balances at December 31, 2012 | 13,297,872 | 29,770 | 19,803,685 | 76,252 | 38,095,239 | 211,403 | |||||||||||||||
Accretion of dividends | — | 1,103 | — | 2,827 | — | 7,931 | |||||||||||||||
Conversion to common stock | (13,297,872 | ) | (30,873 | ) | (19,803,685 | ) | (79,078 | ) | (38,095,239 | ) | (219,332 | ) | |||||||||
Settlement of fractional shares upon conversion to common stock | — | — | — | (1 | ) | — | (2 | ) | |||||||||||||
Balances at December 31, 2013 | — | $ | — | — | $ | — | — | $ | — | ||||||||||||
Series F | |||||||||||||||||||||
Redeemable | |||||||||||||||||||||
Convertible | |||||||||||||||||||||
Preferred Stock | |||||||||||||||||||||
Shares | Amount | ||||||||||||||||||||
Balances at December 31, 2012 | — | $ | — | ||||||||||||||||||
Issuance of shares | 19,047,619 | 150,000 | |||||||||||||||||||
Accretion of dividends | — | 3,224 | |||||||||||||||||||
Stock issuance costs | — | (3,148 | ) | ||||||||||||||||||
Conversion to common stock | (19,047,619 | ) | (150,075 | ) | |||||||||||||||||
Settlement of fractional shares upon conversion to common stock | — | (1 | ) | ||||||||||||||||||
Balances at December 31, 2013 | — | $ | — | ||||||||||||||||||
The Series F Redeemable Convertible Preferred Stock (“Series F”), Series E Redeemable Convertible Preferred Stock (“Series E”), Series D Redeemable Convertible Preferred Stock (“Series D”), Series C-3 Redeemable Convertible Preferred Stock (“Series C-3”), Series C-2 Redeemable Convertible Preferred Stock (“Series C-2”), Series C-1 Redeemable Convertible Preferred Stock (“Series C-1”), Series C Redeemable Convertible Preferred Stock (“Series C”), Series B-1 Redeemable Convertible Preferred Stock (“Series B-1”), Series B Redeemable Convertible Preferred Stock (“Series B”) and Series A Redeemable Convertible Preferred Stock (“Series A”) collectively are referred to as the “Series Preferred”. | |||||||||||||||||||||
Upon closing of the IPO on August 13, 2013, all Series Preferred shares, including $68,850 of accrued but unpaid dividends thereon, automatically converted into 79,705,130 shares of common stock. Prior to conversion, the Series Preferred had optional redemption provisions whereby after May 25, 2016, but prior to the occurrence of a qualified IPO, the holders of greater than three-fourths of then issued and outstanding shares of the Series F, Series E, Series D, Series C-3, Series C-2, Series C-1 and Series C, voting as a separate class, could have elected by written notice to require the Company to redeem all of the then issued and outstanding shares of Series F, Series E, Series D, Series C-3, Series C-2, Series C-1 and Series C at an amount equal to the stated price adjusted for any stock dividends, combination or splits plus all accrued but unpaid dividends. Upon receipt of such written notice, the Company must notify the holders of the Series B-1, Series B and Series A of the redemption notice, upon which the holders of each of those classes could have required the Company to redeem all of the then issued and outstanding shares of such class. As a result of this optional redemption provision, the Company accreted changes in the redemption value from the date of issuance of all Series Preferred shares with a resultant change to additional paid-in capital or accumulated deficit in the absence of additional paid-in capital. As of December 31, 2012, $50,549 of cumulative dividends had been accreted to the redemption price for Series Preferred on the Company’s consolidated balance sheet. | |||||||||||||||||||||
Private Placement | |||||||||||||||||||||
On March 26, 2014 and concurrent with the formation of Intrexon Energy Partners, the Company entered into securities purchase agreements with each of the Investors in Intrexon Energy Partners for the private placement of 972,004 shares of the Company’s common stock at a price per share of $25.72 for gross proceeds of $25,000. Each Investor purchased an amount proportionate to its investment in Intrexon Energy Partners, including 243,001 shares, or $6,250, purchased by an affiliate of Third Security (Note 17). |
Stock_Option_Plans
Stock Option Plans | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||
Stock Option Plans | Stock Option Plans | ||||||||||||||||||||||||||||||||
The Company records the fair value of stock options issued to employees and non-employees as of the grant date as stock-based compensation expense. Stock-based compensation expense for employees and non-employees is recognized over the requisite service period, which is typically the vesting period. Stock-based compensation costs included in the consolidated statements of operations are presented below: | |||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Cost of products | $ | 14 | $ | — | $ | — | |||||||||||||||||||||||||||
Cost of services | 142 | — | — | ||||||||||||||||||||||||||||||
Research and development | 4,817 | 514 | 377 | ||||||||||||||||||||||||||||||
Selling, general and administrative | 16,876 | 2,407 | 1,081 | ||||||||||||||||||||||||||||||
Total | $ | 21,849 | $ | 2,921 | $ | 1,458 | |||||||||||||||||||||||||||
Intrexon Stock Option Plans | |||||||||||||||||||||||||||||||||
On April 18, 2008, Intrexon adopted the 2008 Equity Incentive Plan (the “2008 Plan”) for employees and nonemployees pursuant to which Intrexon’s board of directors may grant share based awards, including stock options, to officers, key employees and nonemployees. During 2011, the 2008 Plan was amended to increase the number of authorized awards under the 2008 Plan from 2,857,142 to 5,714,285. Upon the effectiveness of the 2013 Omnibus Incentive Plan (the “2013 Plan”), no new awards may be granted under the 2008 Plan. As of December 31, 2014, there were 1,747,494 stock options outstanding under the 2008 Plan. | |||||||||||||||||||||||||||||||||
On July 26, 2013, Intrexon adopted the 2013 Plan for employees and nonemployees pursuant to which Intrexon’s board of directors may grant share based awards, including stock options and shares of common stock, to employees, officers, consultants, advisors, and nonemployee directors. The 2013 Plan became effective upon the closing of the IPO. On June 9, 2014, Intrexon's shareholders voted to amend the 2013 Plan to increase the number of shares authorized for issuance under the 2013 Plan from 7,000,000 to 10,000,000. As of December 31, 2014, there were 6,576,050 stock options outstanding under the 2013 Plan, and there were 3,335,220 remaining shares available for Intrexon to grant under the 2013 Plan. | |||||||||||||||||||||||||||||||||
Stock options may be granted with an exercise price equal to or greater than the stock’s fair market value at the date of grant. Stock options may be granted with an exercise price less than the stock’s fair market value at the date of grant if the stock options are replacement options in accordance with certain U.S. Treasury regulations. Virtually all stock options have ten-year terms and vest no more than four years from the date of grant. | |||||||||||||||||||||||||||||||||
Intrexon uses the Black-Scholes option pricing model to estimate the grant-date fair value of all stock options. The Black-Scholes option pricing model requires the use of assumptions for estimated expected volatility, estimated expected term of stock options, risk-free rate, estimated expected dividend yield, and the fair value of the underlying common stock at the date of grant. Since Intrexon does not have sufficient history to estimate the expected volatility of our common stock price, expected volatility is based on the average volatility of peer public entities that are similar in size and industry. Intrexon estimates the expected term of all options based on previous history of exercises. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for the expected term of the option. The expected dividend yield is 0% as Intrexon has not declared any common stock dividends to date and does not expect to declare common stock dividends in the near future. Prior to Intrexon’s IPO, the fair value of the underlying common stock is determined based on a valuation of Intrexon’s common stock. Subsequent to Intrexon’s IPO, the fair value of the underlying common stock is determined based on the quoted market price on the NYSE. Actual forfeitures are recorded when incurred and estimated forfeitures are reviewed and adjusted at least annually. The assumptions used in the Black-Scholes option pricing model for the years ended December 31, 2014, 2013 and 2012 are set forth below: | |||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Valuation assumptions | |||||||||||||||||||||||||||||||||
Expected dividend yield | 0% | 0% | 0% | ||||||||||||||||||||||||||||||
Expected volatility | 62%—64% | 73%—75% | 71%—76% | ||||||||||||||||||||||||||||||
Expected term (years) | 6.25 | 6.25 | 6 | ||||||||||||||||||||||||||||||
Risk-free interest rate | 1.82%—2.14% | 0.96%—1.86% | 0.80%—1.10% | ||||||||||||||||||||||||||||||
Stock option activity was as follows: | |||||||||||||||||||||||||||||||||
Number of | Weighted | Weighted | |||||||||||||||||||||||||||||||
Shares | Average | Average | |||||||||||||||||||||||||||||||
Exercise | Remaining | ||||||||||||||||||||||||||||||||
Price | Contractual | ||||||||||||||||||||||||||||||||
Term | |||||||||||||||||||||||||||||||||
Balances at December 31, 2011 | 3,614,530 | $ | 5.22 | 6.67 | |||||||||||||||||||||||||||||
Granted | 548,571 | 7.12 | |||||||||||||||||||||||||||||||
Exercised | (194,570 | ) | (2.43 | ) | |||||||||||||||||||||||||||||
Forfeited | (1,210,857 | ) | (6.30 | ) | |||||||||||||||||||||||||||||
Expired | (444,148 | ) | (2.29 | ) | |||||||||||||||||||||||||||||
Balances at December 31, 2012 | 2,313,526 | 5.9 | 7.87 | ||||||||||||||||||||||||||||||
Granted | 989,709 | 13.06 | |||||||||||||||||||||||||||||||
Exercised | (88,764 | ) | (6.04 | ) | |||||||||||||||||||||||||||||
Forfeited | (335,746 | ) | (6.94 | ) | |||||||||||||||||||||||||||||
Expired | (38,077 | ) | (5.17 | ) | |||||||||||||||||||||||||||||
Balances at December 31, 2013 | 2,840,648 | 8.27 | 7.75 | ||||||||||||||||||||||||||||||
Granted | 7,655,050 | 27.51 | |||||||||||||||||||||||||||||||
Exercised | (315,964 | ) | (4.80 | ) | |||||||||||||||||||||||||||||
Forfeited | (1,855,578 | ) | (24.00 | ) | |||||||||||||||||||||||||||||
Expired | (612 | ) | (7.12 | ) | |||||||||||||||||||||||||||||
Balances at December 31, 2014 | 8,323,544 | 22.59 | 8.64 | ||||||||||||||||||||||||||||||
Exercisable at December 31, 2014 | 1,448,434 | 8.27 | 6.25 | ||||||||||||||||||||||||||||||
Vested and Expected to Vest at December 31, 2014(1) | 6,742,605 | 21.78 | 8.5 | ||||||||||||||||||||||||||||||
-1 | The number of stock options expected to vest takes into account an estimate of expected forfeitures. | ||||||||||||||||||||||||||||||||
Total unrecognized compensation costs related to nonvested awards at December 31, 2014, 2013 and 2012 were $62,281, $9,639 and $4,910, respectively, and are expected to be recognized over a weighted-average period of approximately three years. | |||||||||||||||||||||||||||||||||
The weighted average grant date fair value of options granted during 2014, 2013 and 2012 was $16.40, $12.91 and $4.60, respectively. The aggregate intrinsic value of options exercised during 2014, 2013 and 2012 was $6,350, $1,136 and $913, respectively. The aggregate intrinsic value of options is calculated as the difference between the exercise price of the underlying options and the fair value of Intrexon’s common stock for those shares that had exercise prices lower than the fair value of Intrexon’s common stock. | |||||||||||||||||||||||||||||||||
The following table summarizes additional information about stock options outstanding as of December 31, 2014: | |||||||||||||||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||||||||||||
Range of Exercise Prices | Number of | Weighted Average Exercise Price | Weighted | Aggregate | Number of | Weighted Average Exercise Price | Weighted | Aggregate | |||||||||||||||||||||||||
Options | Average | Intrinsic | Options | Average | Intrinsic | ||||||||||||||||||||||||||||
Remaining | Value | Remaining | Value | ||||||||||||||||||||||||||||||
Life | Life | ||||||||||||||||||||||||||||||||
(Years) | (Years) | ||||||||||||||||||||||||||||||||
$ | 0.39 | — | $ | 9.67 | 1,747,494 | $ | 6.49 | 6.25 | $ | 36,772 | 1,293,184 | $ | 6.07 | 5.9 | $ | 27,746 | |||||||||||||||||
$ | 15.39 | — | $ | 22.77 | 2,603,300 | 21.74 | 9.32 | 15,084 | 57,000 | 19.77 | 9.05 | 442 | |||||||||||||||||||||
$ | 24.73 | — | $ | 28.69 | 260,750 | 26.21 | 9.74 | 363 | 8,250 | 28.25 | 8.63 | 1 | |||||||||||||||||||||
$ | 29.95 | 1,000,000 | 29.95 | 9.21 | — | — | — | 0 | — | ||||||||||||||||||||||||
$ | 30.72 | 2,712,000 | 30.72 | 9.22 | — | 90,000 | 30.72 | 9.22 | — | ||||||||||||||||||||||||
8,323,544 | $ | 22.59 | 8.64 | $ | 52,219 | 1,448,434 | $ | 8.27 | 6.25 | $ | 28,189 | ||||||||||||||||||||||
The following table summarizes additional information about stock options outstanding as of December 31, 2013: | |||||||||||||||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||||||||||||
Range of Exercise Prices | Number of | Weighted Average Exercise Price | Weighted | Aggregate | Number of | Weighted Average Exercise Price | Weighted | Aggregate | |||||||||||||||||||||||||
Options | Average | Intrinsic | Options | Average | Intrinsic | ||||||||||||||||||||||||||||
Remaining | Value | Remaining | Value | ||||||||||||||||||||||||||||||
Life | Life | ||||||||||||||||||||||||||||||||
(Years) | (Years) | ||||||||||||||||||||||||||||||||
$ | 0.39 | — | $ | 5.91 | 658,051 | $ | 3.15 | 4.96 | $ | 13,592 | 571,116 | $ | 2.78 | 4.63 | $ | 12,003 | |||||||||||||||||
$ | 7.12 | 1,194,887 | 7.12 | 7.8 | 19,931 | 546,805 | 7.12 | 7.77 | 9,121 | ||||||||||||||||||||||||
$ | 9.67 | 701,710 | 9.67 | 9.41 | 9,915 | 107,142 | 9.67 | 9.41 | 1,514 | ||||||||||||||||||||||||
$ | 19.83 | 225,500 | 19.83 | 9.96 | 895 | — | — | 0 | — | ||||||||||||||||||||||||
$ | 26.76 | — | $ | 28.69 | 60,500 | 27.33 | 9.67 | — | 2,500 | 28.69 | 9.62 | — | |||||||||||||||||||||
2,840,648 | $ | 8.27 | 7.75 | $ | 44,333 | 1,227,563 | $ | 5.37 | 6.44 | $ | 22,638 | ||||||||||||||||||||||
Intrexon currently uses authorized and unissued shares to satisfy share award exercises. | |||||||||||||||||||||||||||||||||
Other Plans | |||||||||||||||||||||||||||||||||
As of December 31, 2014, there were 397,000 options outstanding under the Exemplar membership interest unit option plan at a weighted average exercise price of $2.10 per unit of which 275,667 were exercisable. | |||||||||||||||||||||||||||||||||
As of December 31, 2014, there were 7,347,000 options outstanding under the AquaBounty 2006 Equity Incentive Plan at a weighted average exercise price of $0.31 per share of which 6,171,520 were exercisable. As of December 31, 2013, there were 6,624,000 options outstanding under the AquaBounty 2006 Equity Incentive Plan at a weighted average exercise price of $0.25 per share of which 6,052,000 were exercisable. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Commitments and Contingencies Disclosure [Abstract] | ||||
Commitments and Contingencies | Commitments and Contingencies | |||
Operating Leases | ||||
The Company leases facilities and certain equipment under noncancelable operating leases. The equipment leases are renewable at the option of the Company. At December 31, 2014, future minimum lease payments under operating leases having initial or remaining noncancelable lease terms in excess of one year are as follows: | ||||
2015 | $ | 4,177 | ||
2016 | 4,162 | |||
2017 | 2,695 | |||
2018 | 1,355 | |||
2019 | 1,275 | |||
Thereafter | 2,430 | |||
$ | 16,094 | |||
Rent expense, including other facility expenses, was $8,511, $5,672 and $5,036 in 2014, 2013 and 2012, respectively. | ||||
The Company maintains subleases for certain of its facilities. Rental income under sublease agreements was $908, $365 and $151 for the years ended December 31, 2014, 2013 and 2012, respectively. Future rental income is $1,316 for 2015, $993 for 2016, and $96 for 2017. | ||||
Contingencies | ||||
On March 6, 2012, Trans Ova was named as a defendant in a licensing and patent infringement suit brought by XY, Inc. alleging that certain of Trans Ova's activities breach a licensing agreement and infringe on patents that XY, Inc. allegedly owns. Trans Ova is reviewing, defending and filing counter claims in the case. The matter may go to trial in 2015. Based on advice from legal counsel, Trans Ova believes that XY, Inc.'s complaints are without merit; however, no assurances can be given that this matter will be resolved in Trans Ova's favor. Furthermore, no assurances can be made that the legal proceedings will be concluded in accordance with the present schedule. | ||||
The Company may become subject to claims and assessments from time to time in the ordinary course of business. Such matters are subject to many uncertainties and outcomes are not predictable with assurance. The Company accrues liabilities for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. As of December 31, 2014 and 2013, the Company does not believe that any such matters, individually or in the aggregate, will have a material adverse effect on the Company’s business, financial condition, results of operations, or cash flows. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2014 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related Party Transactions |
Third Security and Affiliates | |
Certain affiliates of Third Security were shareholders of the Series B, B-1, C, C-1, C-2, C-3, D, E, and F Redeemable Convertible Preferred Stock. | |
The Company reimburses Third Security for certain out-of-pocket expenses incurred on the Company’s behalf. The total amount of expenses reimbursed by the Company for the years ended December 31, 2014, 2013 and 2012, was $291, $455, and $49, respectively. | |
On June 6, 2011, the Company entered into an exclusive licensing agreement with Halozyme Therapeutics, Inc. (“Halozyme”) for the use of Halozyme’s proprietary enzyme in one of the Company’s targeted therapeutics. The Company and Halozyme are related parties through common ownership by affiliates of Third Security. The Company’s CEO also serves on Halozyme’s board of directors. The Company terminated the agreement effective May 2014 and no further payments are due after that date. | |
The Manager of Third Security is also the Chief Executive Officer (“CEO”) and Chairman of the Board of Directors of the Company. The CEO has not received compensation for his services as CEO, and as a result, the Company recorded $1,991, $1,550 and $1,550 in compensation expense for the years ended December 31, 2014, 2013 and 2012, respectively, based on the estimated salary and benefits appropriate for the role. | |
Transactions with ECC Parties | |
In addition to entities controlled by Third Security, any entity in which the Company holds equity securities, including securities received as upfront or milestone consideration, and which also are party to a collaboration with the Company are considered to be related parties. | |
In conjunction with the ECC with Ziopharm (Note 6), the Company agreed to purchase up to an additional $50,000 of common stock in conjunction with securities offerings that may be conducted by Ziopharm in the future, subject to certain conditions and limitations. Between February 2011 and October 2013, the Company purchased an aggregate of $30,982 of Ziopharm securities. At December 31, 2014, the Company had $19,081 remaining on its purchase commitment. See discussion of the Company's purchase of additional common stock of Ziopharm subsequent to year-end at Note 21. | |
In conjunction with the ECC with Synthetic Biologics (Note 6), the Company is entitled to, at its election, purchase up to 19.99% of securities offerings that may be conducted by Synthetic Biologics in the future, subject to certain conditions and limitations. On December 17, 2013, the Company purchased 2,000,000 shares of Synthetic Biologics common stock at $1.00 per share in a securities offering under this right. The Company has been granted the right to make purchases of Synthetic Biologics’ common stock in the open market up to an additional 10% of Synthetic Biologics’ common stock, but has made no such purchases. | |
In conjunction with the ECC with Oragenics (Note 6), the Company is entitled to, at its election, purchase up to 30% of securities offerings that may be conducted by Oragenics in the future, subject to certain conditions and limitations. On November 20, 2013, the Company purchased 1,100,000 shares of Oragenics common stock at $2.50 per share. On September 30, 2013, the Company purchased 1,300,000 shares of Oragenics common stock at $3.00 per share in a private transaction. | |
On October 1, 2013, the Company purchased 2,439,024 shares of Fibrocell common stock at $4.10 per share. | |
The Company entered into an ECC with Histogenics Corporation ("Histogenics") in September 2014 and received a $10,000 convertible promissory note as upfront consideration. The note originally matured in September 2015 and accrued interest at 6.0% per annum. Upon the closing of Histogenics' IPO on December 7, 2014, the note, as well as accrued interest, was converted to Histogenics' common stock. Additionally, the Company purchased 1,772,364 shares of Histogenics common stock at $11.00 per share in the IPO. | |
The Company recognized $41,030, $22,783, and $13,076 of collaboration revenues from related parties in the years ended December 31, 2014, 2013 and 2012, respectively. |
Net_Loss_per_Share
Net Loss per Share | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Net Loss per Share | Net Loss per Share | |||||||||||
The following table presents the historical computation of basic and diluted net loss per share: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Historical net loss per share: | ||||||||||||
Numerator: | ||||||||||||
Net loss attributable to Intrexon | $ | (81,822 | ) | $ | (38,980 | ) | $ | (81,874 | ) | |||
Add: Accretion of dividends on redeemable convertible preferred stock | — | (18,391 | ) | (21,994 | ) | |||||||
Net loss attributable to common shareholders | $ | (81,822 | ) | $ | (57,371 | ) | $ | (103,868 | ) | |||
Denominator: | ||||||||||||
Weighted average shares outstanding, basic and diluted | 99,170,653 | 40,951,952 | 5,533,690 | |||||||||
Net loss attributable to common shareholders per share, basic and diluted | $ | (0.83 | ) | $ | (1.40 | ) | $ | (18.77 | ) | |||
The following potentially dilutive securities as of December 31, 2014, 2013, and 2012, have been excluded from the computations of diluted weighted average shares outstanding for the years then ended as they would have been anti-dilutive: | ||||||||||||
December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Common shares issuable upon conversion of all Series Preferred | — | — | 64,517,977 | |||||||||
Options | 8,323,544 | 2,840,648 | 2,313,526 | |||||||||
Warrants | 352,483 | 414,404 | 511,098 | |||||||||
Total | 8,676,027 | 3,255,052 | 67,342,601 | |||||||||
In addition to the potentially dilutive securities in the table above, Series Preferred cumulative dividends convertible into common shares at a price per share equal to the fair market value of a common share at the time of conversion have been excluded from the computation of diluted weighted-average shares outstanding for the years ended December 31, 2013 and 2012. |
Quarterly_Financial_Informatio
Quarterly Financial Information (Unaudited) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ||||||||||||||||
Quarterly Financial Information (Unaudited) | Quarterly Financial Information (Unaudited) | |||||||||||||||
The following information has been derived from unaudited consolidated statements that, in the opinion of management, include all recurring adjustments necessary for a fair statement of such information. | ||||||||||||||||
Three Months Ended | ||||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||||
2014 | 2014 | 2014 | 2014 | |||||||||||||
Total revenues | $ | 7,854 | $ | 11,787 | $ | 21,197 | $ | 31,092 | ||||||||
Operating loss | (17,872 | ) | (18,082 | ) | (15,047 | ) | (18,961 | ) | ||||||||
Net income (loss) | 3,249 | (52,935 | ) | (53,862 | ) | 17,932 | ||||||||||
Net income (loss) attributable to Intrexon | 4,115 | (52,043 | ) | (52,725 | ) | 18,831 | ||||||||||
Net income (loss) attributable to common shareholders per share, basic | $ | 0.04 | $ | (0.53 | ) | $ | (0.53 | ) | $ | 0.19 | ||||||
Net income (loss) attributable to common shareholders per share, diluted | 0.04 | (0.53 | ) | (0.53 | ) | 0.18 | ||||||||||
Three Months Ended | ||||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||||
2013 | 2013 | 2013 | 2013 | |||||||||||||
Total revenues | $ | 3,885 | $ | 6,690 | $ | 6,042 | $ | 7,143 | ||||||||
Operating loss | (14,006 | ) | (14,254 | ) | (12,037 | ) | (17,726 | ) | ||||||||
Net income (loss) | (36,362 | ) | (6,519 | ) | 14,991 | (13,018 | ) | |||||||||
Net income (loss) attributable to Intrexon | (36,311 | ) | (5,963 | ) | 15,498 | (12,204 | ) | |||||||||
Net income (loss) attributable to common shareholders per share, basic | $ | (7.54 | ) | $ | (2.45 | ) | $ | 0.15 | $ | (0.13 | ) | |||||
Net income (loss) attributable to common shareholders per share, diluted | (7.54 | ) | (2.45 | ) | 0.15 | (0.13 | ) | |||||||||
Defined_Contribution_Plans
Defined Contribution Plans | 12 Months Ended |
Dec. 31, 2014 | |
Compensation and Retirement Disclosure [Abstract] | |
Defined Contribution Plans | Defined Contribution Plans |
The Company sponsors defined contribution plans covering employees who meet certain eligibility requirements. The Company makes contributions to the plans in accordance with terms specified in the plan agreement. The Company’s contributions to the plans were $776, $598 and $755 in 2014, 2013 and 2012, respectively. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2014 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events |
On January 13, 2015, the Company and Ziopharm jointly entered into a license agreement with the University of Texas System Board of Regents on behalf of the University of Texas M.D. Anderson Cancer Center (“M.D. Anderson”) whereby the Company and Ziopharm received an exclusive license to certain technologies owned and licensed by M.D. Anderson, including technologies relating to novel chimeric antigen receptor (CAR) T-cell therapies, as well as co-licenses and non-exclusive licenses to certain other related technologies. The Company is obligated to issue 2,100,085 shares of its common stock valued at approximately $59,600 to M.D. Anderson as consideration within sixty days of the effective date. | |
In connection with the license agreement, the Company, Ziopharm, and M.D. Anderson agreed to enter into a research and development agreement which will govern certain operational activities between the parties and pursuant to which Ziopharm will provide funding for certain research and development activities of M.D. Anderson for a period of three years, in an amount between $15,000 and $20,000 per year. The Company and Ziopharm are obligated to reimburse M.D. Anderson for out of pocket expenses for maintaining patents covering the licensed technologies. | |
On January 27, 2015, the Company closed a public offering of 4,312,500 shares of its common stock, inclusive of 562,500 shares of common stock sold by the Company pursuant to the full exercise of an overallotment option granted to the underwriters in connection with the offering and 555,556 shares of common stock purchased by affiliates of Third Security (Note 17), at a public offering price of $27.00 per share. The aggregate proceeds of the offering were approximately $110,000, net of underwriting discounts and commissions of approximately $6,100 and offering expenses paid by the Company of approximately $300. | |
On February 9, 2015, the Company purchased $12,600 of Ziopharm common stock in a securities offering reducing the remaining obligation on the Company’s equity purchase commitment (Note 17) to $6,481. | |
On February 23, 2015, the Company acquired 100% of ActoGeniX NV ("ActoGeniX"), a European clinical stage biopharmaceutical company, for approximately $30,000 in cash and 965,377 shares of Company common stock, pursuant to a Stock Purchase Agreement dated as of February 13, 2015. ActoGeniX's platform technology complements the broad collection of technologies available for current and future collaborations. | |
On February 23, 2015, the Company acquired, through an exchange offer, the remaining outstanding membership interests of its majority-owned indirect subsidiary, Exemplar, for approximately $1,600 in cash and 307,074 shares of Company common stock. | |
On February 27, 2015, the Company entered into a definitive agreement to acquire 100% of Okanagan Specialty Fruits Inc. for approximately $31,000 in Company common stock and approximately $10,000 in cash. Consummation of the transaction, anticipated in the first half of 2015, is subject to customary closing conditions. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |
Dec. 31, 2014 | ||
Accounting Policies [Abstract] | ||
Principles of Consolidation | Principles of Consolidation | |
The accompanying consolidated financial statements reflect the operations of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated. | ||
Revenue Recognition | Revenue Recognition | |
The Company generates revenue through contractual agreements with collaborators (known as exclusive channel collaborations, “ECC” or “ECCs”) whereby the collaborators obtain exclusive access to the Company’s proprietary technologies for use in the research, development and commercialization of products and/or treatments in a contractually specified field of use. Generally, the terms of these collaborative agreements provide that the Company receives some or all of the following: (i) upfront payments upon consummation of the agreement, (ii) reimbursements for costs incurred by the Company for research and development and/or manufacturing efforts related to specific application provided for in the agreement, (iii) milestone payments upon the achievement of specified development, regulatory and commercial activities, and (iv) royalties on sales of products arising from the collaboration. | ||
The Company’s collaboration agreements typically contain multiple elements, or deliverables, including technology licenses, research and development services, and in certain cases manufacturing services. The Company applies the provisions of Accounting Standards Update (“ASU”) No. 2009-13, Revenue Recognition (Topic 605): Multiple Deliverable Revenue Arrangements (“ASU 2009-13”). In accordance with the provisions of ASU 2009-13, the Company identifies the deliverables within the agreements and evaluates which deliverables represent separate units of accounting. Analyzing the agreements to identify deliverables requires the use of judgment. A deliverable is considered a separate unit of accounting when the deliverable has value to the collaborator on a standalone basis based on the consideration of the relevant facts and circumstances for each agreement. | ||
Consideration received is allocated at the inception of the agreement to all identified units of accounting based on their relative selling price. When available, the relative selling price for each deliverable is determined using vendor specific objective evidence (“VSOE”) of the selling price or third-party evidence of the selling price, if VSOE does not exist. If neither VSOE nor third-party evidence of the selling price exists, the Company uses its best estimate of the selling price (“BESP”) for the deliverable. The amount of allocable consideration is limited to amounts that are fixed or determinable. The consideration received is allocated among the separate units of accounting, and the applicable revenue recognition criteria are applied to each of the separate units. The Company recognizes the revenue allocated to each unit of accounting as the Company delivers the related goods or services. If the Company determines that certain deliverables should be treated as a single unit of accounting, then the revenue is recognized using either a proportional performance or straight-line method, depending on whether the Company can reasonably estimate the level of effort required to complete its performance obligations under an arrangement and whether such performance obligations are provided on a best-efforts basis. As the Company cannot reasonably estimate its performance obligations related to its collaborators, the Company recognizes revenue on a straight-line basis over the period it expects to complete its performance obligations. | ||
The terms of the Company’s agreements may provide for milestone payments upon achievement of certain defined events. The Company applies ASU No. 2010-17, Revenue Recognition — Milestone Method (“ASU 2010-17” or “Milestone Method”). Under the Milestone Method, the Company recognizes consideration that is contingent upon the achievement of a milestone in its entirety as revenue in the period in which the milestone is achieved only if the milestone is substantive in its entirety. A milestone is considered substantive when it meets all of the following criteria: | ||
-1 | The consideration is commensurate with either the entity’s performance to achieve the milestone or the enhancement of the value of the delivered item or items as a result of a specific outcome resulting from the entity’s performance to achieve the milestone; | |
-2 | The consideration relates solely to past performance; and | |
-3 | The consideration is reasonable relative to all of the deliverables and payment terms within the arrangement. | |
In the event that a milestone is not considered substantive, the Company recognizes the milestone consideration as revenue using the same method applied to upfront payments. | ||
Research and development services are a deliverable satisfied by the Company in accordance with the terms of the collaboration agreements and the Company considers these services to be inseparable from the license to the core technology; therefore, reimbursements of services performed are recognized as revenue. Because reimbursement (i) is contingent upon performance of the services by the Company, (ii) does not include a profit component, and (iii) does not relate to any future deliverable, the revenue is recognized during the period in which the related services are performed and collection of such amounts is reasonably assured. Payments received for manufacturing services will be recognized when the earnings process related to the manufactured materials has been completed. Royalties to be received under the agreements will be recognized as earned. | ||
The Company also generates revenue through sales of advanced reproductive technologies, including bovine embryos derived from the Company's embryo transfer and in vitro fertilization processes and from genetic preservation and sexed semen processes and applications of such processes to other livestock, as well as sales of livestock used in production. Revenue is recognized when (i) persuasive evidence of an arrangement exists, (ii) services have been rendered or delivery has occurred such that risk of loss has passed to the customer, (iii) the price is fixed or determinable, and (iv) collection from the customer is reasonably assured. | ||
Research and Development | Research and Development | |
The Company considers that regulatory and other uncertainties inherent in the research and development of new products preclude it from capitalizing such costs. Research and development expenses include salaries and related costs of research and development personnel, and the costs of consultants, facilities, materials and supplies associated with research and development projects as well as various laboratory studies. Indirect research and development costs include depreciation, amortization and other indirect overhead expenses. | ||
The Company has research and development arrangements with third parties that include upfront and milestone payments and primarily relate to collaborations. At December 31, 2014 and 2013, the Company had research and development commitments with third parties totaling $4,541 and $2,445, respectively, of which $2,183 and $957, respectively, had not yet been incurred. The commitments are generally cancellable by the Company at any time upon written notice. | ||
Cash and Cash Equivalents | Cash and Cash Equivalents | |
All highly liquid investments with an original maturity of three months or less at the date of purchase are considered to be cash equivalents. Cash balances at a limited number of banks may periodically exceed insurable amounts. The Company believes that it mitigates its risk by investing in or through major financial institutions with high quality credit ratings. Recoverability of investments is dependent upon the performance of the issuer. | ||
Short-term and Long-term Investments | Short-term and Long-term Investments | |
At December 31, 2014, short-term and long-term investments include U.S. government debt securities and certificates of deposit. The Company determines the appropriate classification as short-term or long-term at the time of purchase based on original maturities and management’s reasonable expectation of sales and redemption. The Company reevaluates such classification at each balance sheet date. The Company’s written investment policy requires investments to be explicitly rated by two of the three following rating services: Standard & Poor’s, Moody’s and/or Fitch and to have a minimum rating of A1, P1 and/or F-1, respectively, from those agencies. In addition, the investment policy limits the amount of credit exposure to any one issuer. | ||
Equity Securities | Equity Securities | |
The Company holds equity securities received and/or purchased from certain collaborators. Other than investments accounted for using the equity method, the Company elected the fair value option to account for its equity securities held in these collaborators. These equity securities are recorded at fair value at each reporting date and are subject to market price volatility. Unrealized gains and losses resulting from fair value adjustments are reported in the consolidated statement of operations. The fair value of these equity securities is subject to fluctuation in the future due to the volatility of the stock market, changes in general economic conditions and changes in the financial conditions of these collaborators. These equity securities are classified as noncurrent in the consolidated balance sheet as the Company does not intend to sell these equity securities within one year. The Company has not sold any of these equity securities to date. | ||
The Company records the fair value of securities received on the date the collaboration is consummated or the milestone is achieved using the closing, quoted price of the collaborator’s security on that date, assuming the transfer of consideration is considered perfunctory. If the transfer of the consideration is not considered perfunctory, the Company considers the specific facts and circumstances to determine the appropriate date on which to evaluate fair value. The Company also evaluates whether any discounts for trading restrictions or other basis for lack of marketability should be applied to the fair value of the securities at inception of the collaboration. In the event the Company concludes that a discount should be applied, the fair value of the securities is adjusted at inception of the collaboration and re-evaluated at each reporting period thereafter. | ||
Fair Value of Financial Instruments | Fair Value of Financial Instruments | |
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset and liability. As a basis for considering such assumptions, the Company uses a three-tier fair value hierarchy that prioritizes the inputs used in its fair value measurements. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: | ||
Level 1: | Quoted prices in active markets for identical assets and liabilities; | |
Level 2: | Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly; and | |
Level 3: | Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available. | |
Concentrations of Risk | Concentrations of Risk | |
Due to the Company’s mix of fixed and variable rate securities holdings, the Company’s investment portfolio is susceptible to changes in interest rates. As of December 31, 2014, gross unrealized losses on the Company’s investments were not material. From time to time, the Company may liquidate some or all of its investments to fund operational needs or other activities, such as capital expenditures or business acquisitions. Depending on which investments the Company liquidates to fund these activities, the Company could recognize a portion, or all, of the gross unrealized losses. | ||
Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of trade receivables. The Company controls credit risk through credit approvals, credit limits and monitoring procedures. The Company performs ongoing credit evaluations of its customers, but generally does not require collateral to support accounts receivable. | ||
Equity Method Investments | Equity Method Investments | |
Through March 15, 2013, the Company accounted for its investment in AquaBounty using the equity method of accounting since the Company had the ability to exercise significant influence, but not control, over the operating activities of AquaBounty. The excess of the investment over the Company’s pro-rata share of AquaBounty’s net assets represented identifiable intangible assets and equity-method goodwill. On March 15, 2013, the Company acquired additional ownership interests in AquaBounty which resulted in the Company gaining control over AquaBounty, thereby requiring consolidation effective on that date (Note 4). | ||
The Company has entered into three strategic joint ventures (Note 5). The Company accounts for its investments in these joint ventures using the equity method of accounting since the Company has the ability to exercise significant influence, but not control, over the operating activities of these entities. | ||
The Company determined that it has significant influence over two of its collaborators, Ziopharm Oncology, Inc. ("Ziopharm") and Oragenics, Inc. ("Oragenics"), as of December 31, 2014 and 2013, based on its ownership interests, representation on the board of directors of the collaborators and other qualitative factors. The Company accounts for its investments in Ziopharm and Oragenics using the fair value option. As of December 31, 2012, the Company determined that one of these collaborators, Ziopharm, met the criteria of SEC Regulation S-X Article 3-9 for inclusion of separate financial statements of an equity method investment. | ||
Variable Interest Entities | Variable Interest Entities | |
The Company identifies entities that (i) do not have sufficient equity investment at risk to permit the entity to finance its activities without additional subordinated financial support or (ii) in which the equity investors lack an essential characteristic of a controlling financial interest as variable interest entities (“VIE” or “VIEs”). The Company performs an initial and on-going evaluation of the entities with which the Company has variable interests to determine if any of these entities are VIEs. If an entity is identified as a VIE, the Company performs an assessment to determine whether the Company has both (i) the power to direct activities that most significantly impact the VIE’s economic performance and (ii) have the obligation to absorb losses from or the right to receive benefits of the VIE that could potentially be significant to the VIE. If both of these criteria are satisfied, the Company is identified as the primary beneficiary of the VIE. | ||
As of December 31, 2014, the Company determined that Genopaver, LLC ("Genopaver"), Intrexon Energy Partners, LLC ("Intrexon Energy Partners"), OvaXon, LLC ("OvaXon") and Persea Bio, LLC ("Persea Bio") were VIEs. The Company was not the primary beneficiary for these entities since it did not have the power to direct the activities that most significantly impact the economic performance of the VIEs. As of December 31, 2013, the Company determined that Genopaver was a VIE. The Company was not the primary beneficiary for this entity since it did not have the power to direct the activities that most significantly impact the economic performance of the VIE. | ||
Trade Receivables | Trade Receivables | |
Trade receivables consist of credit extended to the Company’s customers and collaborators in the normal course of business and are reported net of an allowance for doubtful accounts. The Company reviews its customer accounts on a periodic basis and records bad debt expense for specific amounts the Company evaluates as uncollectible. Past due status is determined based upon contractual terms. Amounts are written off at the point when collection attempts have been exhausted. Management estimates uncollectible amounts considering such factors as current economic conditions and historic and anticipated customer performance. This estimate can fluctuate due to changes in economic, industry or specific customer conditions which may require adjustment to the allowance recorded by the Company. Management has included amounts believed to be uncollectible in the allowance for doubtful accounts. | ||
Inventory | Inventory | |
The Company's inventory primarily includes adult female cows which are used in certain production processes and are recorded at acquisition cost using the first-in, first-out method or at market, whichever is lower. Work-in-process inventory includes allocations of production costs and facility costs for products currently in production and is recorded at the lower of cost or market. Significant declines in the price of cows could result in unfavorable adjustments to inventory balances. | ||
Property, Plant and Equipment | Property, Plant and Equipment | |
Property, plant and equipment are stated at cost, less accumulated depreciation and amortization. Major additions or betterments are capitalized and repairs and maintenance are generally expensed as incurred. Depreciation and amortization is calculated using the straight-line method over the estimated useful lives of the assets. The estimated useful lives of these assets are as follows: | ||
Years | ||
Buildings and building improvements | 2–23 | |
Furniture and fixtures | 1–7 | |
Equipment | 1–10 | |
Land improvements | 4–15 | |
Computer hardware and software | 1–7 | |
Leasehold improvements are amortized over the shorter of the useful life of the asset or the applicable lease term, generally one to fourteen years | ||
Goodwill | Goodwill | |
Goodwill represents the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized (Notes 3 and 4). Goodwill is reviewed for impairment at least annually. The Company performs a qualitative assessment to determine whether it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount prior to performing the two-step goodwill impairment test. If this is the case, the two-step goodwill impairment test is required. If it is more-likely-than-not that the fair value of a reporting unit is greater than the carrying amount, the two-step goodwill impairment test is not required. | ||
If the two-step goodwill impairment test is required, first, the fair value of the reporting unit is compared with its carrying amount (including goodwill). If the fair value of the reporting unit is less than its carrying amount, an indication of goodwill impairment exists for the reporting unit and the entity must perform step two of the impairment test. Under step two, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation and the residual fair value after this allocation is the implied fair value of the reporting unit goodwill. Fair value of the reporting unit is determined using a discounted cash flow analysis. If the fair value of the reporting unit exceeds its carrying amount, step two does not need to be performed. | ||
The Company performs its annual impairment review of goodwill in the fourth quarter, or sooner if a triggering event occurs prior to the annual impairment review. | ||
Intangible Assets | Intangible Assets | |
Intangible assets subject to amortization consist of patents and related technologies and know-how; customer relationships; and trademarks acquired as a result of mergers and acquisitions (Note 3). These intangible assets are subject to amortization, were recorded at fair value at the date of acquisition and are stated net of accumulated amortization. Indefinite-lived intangible assets consist of in-process research and development acquired in mergers and acquisitions (Notes 3 and 4) and were recorded at fair value at the dates of the respective acquisitions. | ||
The Company applies the provisions of ASC Topic 350, Intangibles, Goodwill and Other, which requires the amortization of long-lived intangible assets to reflect the pattern in which the economic benefits of the intangible asset are expected to be realized. The intangible assets are amortized over their remaining estimated useful lives, ranging from three to fourteen years for the patents, related technologies and know-how; customer relationships; and trademarks. | ||
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets | |
Long-lived assets to be held and used, including property, plant and equipment and intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. Conditions that would necessitate an impairment assessment include a significant decline in the observable market value of an asset, a significant change in the extent or manner in which an asset is used, or a significant adverse change that would indicate that the carrying amount of an asset or group of assets is not recoverable. | ||
Indefinite-lived intangible assets, including in-process research and development, are tested for impairment annually, or more frequently if events or circumstances between annual tests indicate that the asset may be impaired. Impairment losses on indefinite-lived intangible assets are recognized based solely on a comparison of their fair value to carrying value, without consideration of any recoverability test. The Company monitors the progression of its in-process research and development, as the likelihood of success is contingent upon commercial development or regulatory approval. | ||
Foreign Currency Translation | Foreign Currency Translation | |
The assets and liabilities of foreign subsidiaries, where the local currency is the functional currency, are translated from their respective functional currencies into United States dollars at the exchange rates in effect at the balance sheet date, with resulting foreign currency translation adjustments recorded in the consolidated statement of comprehensive loss. Revenue and expense amounts are translated at average rates during the period. | ||
Income Taxes | Income Taxes | |
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to both differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases as well as operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date of the change. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. | ||
The Company identifies any uncertain income tax positions and recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest, if any, related to unrecognized tax benefits as a component of interest expense. Penalties, if any, are recorded in selling, general and administrative expenses. | ||
Net Loss per Share | Net Loss per Share | |
Basic net loss per share is calculated by dividing net loss attributable to common shareholders by the weighted average shares outstanding during the period, without consideration of common stock equivalents. Diluted net loss per share is calculated by adjusting weighted average shares outstanding for the dilutive effect of common stock equivalents outstanding for the period, using the treasury-stock method. For purposes of the diluted net loss per share calculation, preferred stock, stock options and warrants are considered to be common stock equivalents but are excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive and, therefore, basic and diluted net loss per share were the same for all periods presented. | ||
Segment Information | Segment Information | |
The Company has determined that it operates in one segment. The Company applies its technologies to create products and services which may be either sold directly to customers or developed through collaboration with third parties. Substantially all of the Company’s revenues are derived in the United States of America. Substantially all of the Company’s assets are located in the United States of America. | ||
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements | |
In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-9, Revenue from Contracts with Customers (“ASU 2014-9”). The FASB issued ASU 2014-9 to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP. The standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes the most current revenue recognition guidance. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2016, and is effective for the Company for the year ending December 31, 2017. The Company is currently evaluating the impact that the implementation of this standard will have on the Company’s consolidated financial statements. | ||
In June 2014, the FASB issued ASU 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation (“ASU 2014-10”). The provisions of ASU 2014-10 related to Topic 915 will not have a significant impact to the Company. ASU 2014-10 removes an exception provided to development-stage entities in Consolidation (Topic 810) for determining whether an entity is a variable interest entity. The revisions to Consolidation (Topic 810) are effective for interim and annual periods beginning after December 15, 2015, and are effective for the Company for the year ending December 31, 2016. The Company is currently evaluating the impact that the implementation of this standard will have on the Company’s consolidated financial statements. | ||
Reclassifications | Reclassifications | |
Certain insignificant reclassifications have been made to the prior year consolidated financial statements to conform to the current year presentation. | ||
Use of Estimates | Use of Estimates | |
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Accounting Policies [Abstract] | ||||||||||||
Summarized Unaudited Financial Information of Equity Method Investments | Summarized financial data as of December 31, 2014 and 2013, and for the years ended December 31, 2014, 2013, and 2012, for the Company's equity method investments for which separate financial statements are not included, pursuant to SEC Regulation S-X Article 3-09, are as follows: | |||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Current assets | $ | 19,540 | 26,655 | |||||||||
Non-current assets | 109 | 27 | ||||||||||
Total assets | 19,649 | 26,682 | ||||||||||
Current liabilities | 4,520 | 1,276 | ||||||||||
Net assets | $ | 15,129 | 25,406 | |||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Revenues, net | $ | 940 | $ | 1,032 | $ | — | ||||||
Operating expenses | 17,289 | 18,498 | 578 | |||||||||
Loss from operations | (16,349 | ) | (17,466 | ) | (578 | ) | ||||||
Other | 35 | 137 | (1 | ) | ||||||||
Net loss | $ | (16,314 | ) | $ | (17,329 | ) | $ | (579 | ) | |||
Rollforward of Allowance for Doubtful Accounts | The following table shows the activity in the allowance for doubtful accounts for the year ended December 31, 2014: | |||||||||||
2014 | ||||||||||||
Beginning balance | $ | — | ||||||||||
Charged to operating expenses | 565 | |||||||||||
Ending balance | $ | 565 | ||||||||||
Estimated Useful Lives of Property, Plant and Equipment | The estimated useful lives of these assets are as follows: | |||||||||||
Years | ||||||||||||
Buildings and building improvements | 2–23 | |||||||||||
Furniture and fixtures | 1–7 | |||||||||||
Equipment | 1–10 | |||||||||||
Land improvements | 4–15 | |||||||||||
Computer hardware and software | 1–7 | |||||||||||
Leasehold improvements are amortized over the shorter of the useful life of the asset or the applicable lease term, generally one to fourteen years. |
Mergers_and_Acquisitions_Table
Mergers and Acquisitions (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Condensed Pro forma Financial Information | The following unaudited condensed pro forma financial information for the years ended December 31, 2014 and 2013, is presented as if the acquisitions had been consummated on January 1, 2013: | |||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Pro Forma | ||||||||||||
Revenues | $ | 119,721 | $ | 86,991 | ||||||||
Loss before income taxes | (82,041 | ) | (41,718 | ) | ||||||||
Net loss | (81,938 | ) | (41,718 | ) | ||||||||
Net loss attributable to the noncontrolling interests | 4,159 | 2,766 | ||||||||||
Net loss attributable to Intrexon | (77,779 | ) | (38,952 | ) | ||||||||
Accretion of dividends on redeemable convertible preferred stock | — | (18,391 | ) | |||||||||
Net loss attributable to common shareholders | (77,779 | ) | (57,343 | ) | ||||||||
Trans Ova Genetics, LC | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Acquisition Date Fair Value Consideration Transferred | The acquisition date fair value of each class of consideration transferred and noncontrolling interest is presented below: | |||||||||||
Cash | $ | 63,625 | ||||||||||
Common shares | 32,802 | |||||||||||
Deferred cash consideration | 20,115 | |||||||||||
Total consideration transferred | 116,542 | |||||||||||
Fair value of noncontrolling interest | 11,333 | |||||||||||
Total | $ | 127,875 | ||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The estimated fair value of assets acquired and liabilities assumed at the acquisition date is shown in the table below along with subsequent adjustments during the measurement period to the fair value of assets acquired and liabilities assumed. The adjustments resulted from finalizing the valuation of trade receivables, property, plant and equipment and intangible assets. | |||||||||||
Initial Estimated Fair Value | Adjustments | Adjusted Fair Value | ||||||||||
Cash | $ | 960 | $ | — | $ | 960 | ||||||
Trade receivables | 17,996 | 697 | 18,693 | |||||||||
Related party receivables | 1,219 | — | 1,219 | |||||||||
Inventory | 17,256 | 1,220 | 18,476 | |||||||||
Prepaid expenses and other | 590 | — | 590 | |||||||||
Property, plant and equipment | 18,686 | 2,478 | 21,164 | |||||||||
Intangible assets | 24,100 | (400 | ) | 23,700 | ||||||||
Other non-current assets | 147 | — | 147 | |||||||||
Total assets acquired | 80,954 | 3,995 | 84,949 | |||||||||
Accounts payable | 3,317 | — | 3,317 | |||||||||
Accrued compensation and benefits | 913 | — | 913 | |||||||||
Other accrued liabilities | 271 | — | 271 | |||||||||
Deferred revenue | 2,420 | 2,038 | 4,458 | |||||||||
Lines of credit | 4,091 | — | 4,091 | |||||||||
Related party payables | 1,246 | — | 1,246 | |||||||||
Long term debt | 9,090 | — | 9,090 | |||||||||
Total liabilities assumed | 21,348 | 2,038 | 23,386 | |||||||||
Net assets acquired | 59,606 | 1,957 | 61,563 | |||||||||
Goodwill | 63,913 | 2,399 | 66,312 | |||||||||
Total consideration and fair value of noncontrolling interest | $ | 123,519 | $ | 4,356 | $ | 127,875 | ||||||
Medistem, Inc. | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Acquisition Date Fair Value Consideration Transferred | The acquisition date fair value of each class of consideration transferred is presented below: | |||||||||||
Cash | $ | 4,920 | ||||||||||
Common shares | 19,368 | |||||||||||
Settlement of promissory notes | 707 | |||||||||||
$ | 24,995 | |||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The estimated fair value of assets acquired and liabilities assumed at the acquisition date is shown in the table below along with subsequent adjustments during the measurement period to the fair value of assets acquired and liabilities assumed. The adjustments were due to the completed valuation of intangible assets and obtaining final balances of accrued expenses. | |||||||||||
Initial Estimated Fair Value | Adjustments | Adjusted Fair Value | ||||||||||
Cash | $ | 8 | $ | — | $ | 8 | ||||||
Intangible assets | — | 4,824 | 4,824 | |||||||||
Total assets acquired | 8 | 4,824 | 4,832 | |||||||||
Accounts payable | 644 | — | 644 | |||||||||
Accrued compensation and benefits | 85 | (18 | ) | 67 | ||||||||
Other accrued expenses | 150 | (100 | ) | 50 | ||||||||
Total liabilities assumed | 879 | (118 | ) | 761 | ||||||||
Net assets acquired (liabilities assumed) | (871 | ) | 4,942 | 4,071 | ||||||||
Goodwill | 25,866 | (4,942 | ) | 20,924 | ||||||||
Total consideration | $ | 24,995 | $ | — | $ | 24,995 | ||||||
Consolidated_MajorityOwned_Sub1
Consolidated Majority-Owned Subsidiaries (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Business Acquisition [Line Items] | ||||||||
Condensed Pro forma Financial Information | The following unaudited condensed pro forma financial information for the years ended December 31, 2014 and 2013, is presented as if the acquisitions had been consummated on January 1, 2013: | |||||||
Year Ended December 31, | ||||||||
2014 | 2013 | |||||||
Pro Forma | ||||||||
Revenues | $ | 119,721 | $ | 86,991 | ||||
Loss before income taxes | (82,041 | ) | (41,718 | ) | ||||
Net loss | (81,938 | ) | (41,718 | ) | ||||
Net loss attributable to the noncontrolling interests | 4,159 | 2,766 | ||||||
Net loss attributable to Intrexon | (77,779 | ) | (38,952 | ) | ||||
Accretion of dividends on redeemable convertible preferred stock | — | (18,391 | ) | |||||
Net loss attributable to common shareholders | (77,779 | ) | (57,343 | ) | ||||
AquaBounty Technologies, Inc. | ||||||||
Business Acquisition [Line Items] | ||||||||
Business Combination Consideration Transferred | The fair value of the consideration transferred included: | |||||||
Consideration paid | $ | 4,907 | ||||||
Fair value of noncontrolling interest | 15,153 | |||||||
Fair value of the Company’s investment in affiliate held before the business combination | 12,751 | |||||||
Fair value of the consideration transferred and noncontrolling interest | $ | 32,811 | ||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The estimated fair value of assets acquired and liabilities assumed at the acquisition date is shown in the table below. | |||||||
Cash | $ | 5,419 | ||||||
Short-term investments | 14 | |||||||
Trade receivables | 4 | |||||||
Other receivables | 9 | |||||||
Prepaid expenses and other | 200 | |||||||
Property, plant and equipment | 1,241 | |||||||
Intangible assets | 14,900 | |||||||
Other assets | 22 | |||||||
Total assets acquired | 21,809 | |||||||
Accounts payable | 156 | |||||||
Accrued compensation | 94 | |||||||
Other accrued liabilities | 395 | |||||||
Long-term debt | 1,354 | |||||||
Total liabilities assumed | 1,999 | |||||||
Net assets acquired | 19,810 | |||||||
Goodwill | 13,001 | |||||||
Total consideration and fair value of noncontrolling interest | $ | 32,811 | ||||||
Condensed Pro forma Financial Information | The following unaudited condensed pro forma financial information for the years ended December 31, 2013 and 2012, is presented as if the acquisition had been consummated on January 1, 2012: | |||||||
Year Ended December 31, | ||||||||
2013 | 2012 | |||||||
Pro Forma | ||||||||
Revenues | $ | 23,760 | $ | 13,774 | ||||
Net loss | (48,760 | ) | (78,651 | ) | ||||
Net loss attributable to noncontrolling interest | 2,310 | 2,062 | ||||||
Net loss attributable to Intrexon | (46,450 | ) | (76,589 | ) | ||||
Accretion of dividends on redeemable convertible preferred stock | (18,391 | ) | (21,994 | ) | ||||
Net loss attributable to common shareholders | (64,841 | ) | (98,583 | ) |
Collaboration_Revenue_Tables
Collaboration Revenue (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||
Summarized Collaboration Revenues | The following table summarizes the amounts recorded in the consolidated statements of operations for each significant collaboration for the years ended December 31, 2014, 2013 and 2012. | |||||||||||
Year Ended December 31, 2014 | ||||||||||||
Collaboration Revenue Recognized From | Total | |||||||||||
Upfront and | Research and | |||||||||||
Milestone Payments | Development Services | |||||||||||
ZIOPHARM Oncology, Inc. | $ | 2,577 | $ | 12,044 | $ | 14,621 | ||||||
Synthetic Biologics, Inc. | 651 | 273 | 924 | |||||||||
Oragenics, Inc. | 1,045 | 598 | 1,643 | |||||||||
Fibrocell Science, Inc. | 1,794 | 4,398 | 6,192 | |||||||||
Genopaver, LLC | 273 | 1,510 | 1,783 | |||||||||
S & I Ophthalmic, LLC | — | 2,832 | 2,832 | |||||||||
OvaXon, LLC | — | 2,799 | 2,799 | |||||||||
Intrexon Energy Partners, LLC | 1,875 | 4,227 | 6,102 | |||||||||
Other | 1,410 | 6,906 | 8,316 | |||||||||
Total | $ | 9,625 | $ | 35,587 | $ | 45,212 | ||||||
Year Ended December 31, 2013 | ||||||||||||
Collaboration Revenue Recognized From | Total | |||||||||||
Upfront and | Research and | |||||||||||
Milestone Payments | Development Services | |||||||||||
ZIOPHARM Oncology, Inc. | $ | 2,577 | $ | 7,818 | $ | 10,395 | ||||||
Synthetic Biologics, Inc. | 2,187 | 1,048 | 3,235 | |||||||||
Oragenics, Inc. | 673 | 1,517 | 2,190 | |||||||||
Fibrocell Science, Inc. | 970 | 3,736 | 4,706 | |||||||||
Genopaver, LLC | 204 | 935 | 1,139 | |||||||||
S & I Ophthalmic, LLC | — | 417 | 417 | |||||||||
Other | 333 | 1,110 | 1,443 | |||||||||
Total | $ | 6,944 | $ | 16,581 | $ | 23,525 | ||||||
Year Ended December 31, 2012 | ||||||||||||
Collaboration Revenue Recognized From | Total | |||||||||||
Upfront and | Research and | |||||||||||
Milestone Payments | Development Services | |||||||||||
ZIOPHARM Oncology, Inc. | $ | 5,068 | $ | 6,333 | $ | 11,401 | ||||||
Synthetic Biologics, Inc. | 293 | 327 | 620 | |||||||||
Oragenics, Inc. | 320 | 516 | 836 | |||||||||
Fibrocell Science, Inc. | 158 | 61 | 219 | |||||||||
Other | 12 | 618 | 630 | |||||||||
Total | $ | 5,851 | $ | 7,855 | $ | 13,706 | ||||||
Summary of Deferred Revenue | Deferred revenue consists of the following: | |||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Upfront and milestone payments | $ | 107,228 | $ | 72,207 | ||||||||
Prepaid research and development services | 1,045 | 1,319 | ||||||||||
Prepaid product and service revenues | 4,365 | — | ||||||||||
Other | 571 | 45 | ||||||||||
Total | $ | 113,209 | $ | 73,571 | ||||||||
Current portion of deferred revenue | 16,522 | 7,793 | ||||||||||
Long-term portion of deferred revenue | 96,687 | 65,778 | ||||||||||
Total | $ | 113,209 | $ | 73,571 | ||||||||
Shortterm_and_Longterm_Investm1
Short-term and Long-term Investments (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||
Summary of Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Investments | The following table summarizes the amortized cost, gross unrealized gains and losses and fair value of available-for-sale investments as of December 31, 2014: | |||||||||||||||
Amortized | Gross | Gross | Aggregate | |||||||||||||
Cost | Unrealized | Unrealized | Fair Value | |||||||||||||
Gains | Losses | |||||||||||||||
U.S. government debt securities | $ | 115,293 | $ | 54 | $ | (12 | ) | $ | 115,335 | |||||||
Certificates of deposit | 273 | — | — | 273 | ||||||||||||
Total | $ | 115,566 | $ | 54 | $ | (12 | ) | $ | 115,608 | |||||||
The following table summarizes the amortized cost, gross unrealized gains and losses and fair value of available-for-sale investments as of December 31, 2013: | ||||||||||||||||
Amortized | Gross | Gross | Aggregate | |||||||||||||
Cost | Unrealized | Unrealized | Fair Value | |||||||||||||
Gains | Losses | |||||||||||||||
U.S. government debt securities | $ | 178,277 | $ | 35 | $ | (13 | ) | $ | 178,299 | |||||||
Commercial paper | 7,997 | — | — | 7,997 | ||||||||||||
Certificates of deposit | 2,266 | — | (1 | ) | 2,265 | |||||||||||
Total | $ | 188,540 | $ | 35 | $ | (14 | ) | $ | 188,561 | |||||||
Summary of Estimated Fair Value of Available-for-Sale Investments Classified by Contractual Maturities | The estimated fair value of available-for-sale investments classified by their contractual maturities as of December 31, 2014 was: | |||||||||||||||
Due within one year | $ | 88,495 | ||||||||||||||
After one year through two years | 27,113 | |||||||||||||||
Total | $ | 115,608 | ||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||
Summary of Placement in the Fair Value Hierarchy of Financial Assets that are Measured at Fair Value on a Recurring Basis | The following table presents the placement in the fair value hierarchy of financial assets that are measured at fair value on a recurring basis, including the items for which the fair value option has been elected, at December 31, 2014: | |||||||||||||||
Quoted | Significant | Significant | December 31, | |||||||||||||
Prices | Other | Unobservable | 2014 | |||||||||||||
in Active | Observable | Inputs | ||||||||||||||
Markets | Inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||
Assets | ||||||||||||||||
U.S. government debt securities (Note 7) | $ | — | $ | 115,335 | $ | — | $ | 115,335 | ||||||||
Certificates of deposit (Note 7) | — | 273 | — | 273 | ||||||||||||
Equity securities (Note 6) | 143,927 | 20,962 | — | 164,889 | ||||||||||||
$ | 143,927 | $ | 136,570 | $ | — | $ | 280,497 | |||||||||
The following table presents the placement in the fair value hierarchy of financial assets that are measured at fair value on a recurring basis, including the items for which the fair value option has been elected, at December 31, 2013: | ||||||||||||||||
Quoted | Significant | Significant | December 31, | |||||||||||||
Prices | Other | Unobservable | 2013 | |||||||||||||
in Active | Observable | Inputs | ||||||||||||||
Markets | Inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||
Assets | ||||||||||||||||
U.S. government debt securities (Note 7) | $ | — | $ | 178,299 | $ | — | $ | 178,299 | ||||||||
Commercial paper (Note 7) | — | 7,997 | — | 7,997 | ||||||||||||
Certificates of deposit (Note 7) | — | 2,265 | — | 2,265 | ||||||||||||
Equity securities (Note 6) | 110,297 | 31,228 | — | 141,525 | ||||||||||||
$ | 110,297 | $ | 219,789 | $ | — | $ | 330,086 | |||||||||
Inventory_Tables
Inventory (Tables) | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Inventory Disclosure [Abstract] | ||||
Schedule of Inventory | Inventory consists of the following: | |||
December 31, | ||||
2014 | ||||
Supplies, semen and embryos | $ | 1,184 | ||
Work in process | 5,637 | |||
Livestock | 16,996 | |||
Feed | 1,972 | |||
Total inventory | $ | 25,789 | ||
Property_Plant_and_Equipment_n1
Property, Plant and Equipment, net (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ||||||||
Schedule of Property, Plant and Equipment | Property, plant and equipment consist of the following: | |||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Land and land improvements | $ | 7,565 | $ | 55 | ||||
Buildings and building improvements | 7,265 | 945 | ||||||
Furniture and fixtures | 1,236 | 876 | ||||||
Equipment | 31,983 | 22,275 | ||||||
Leasehold improvements | 6,382 | 5,147 | ||||||
Computer hardware and software | 5,060 | 4,294 | ||||||
Construction in progress | 1,002 | 314 | ||||||
60,493 | 33,906 | |||||||
Less: Accumulated depreciation and amortization | (22,493 | ) | (17,277 | ) | ||||
Property, plant and equipment, net | $ | 38,000 | $ | 16,629 | ||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets, net (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||
Schedule of Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for the years ended December 31, 2014 and 2013, are as follows: | |||||||||||
Balance as of December 31, 2012 | $ | — | ||||||||||
Acquisitions | 13,823 | |||||||||||
Balance as of December 31, 2013 | 13,823 | |||||||||||
Acquisitions | 87,236 | |||||||||||
Balance as of December 31, 2014 | $ | 101,059 | ||||||||||
Schedule of Intangible Assets | Intangible assets consist of the following at December 31, 2014: | |||||||||||
Gross Carrying | Accumulated | Net | ||||||||||
Amount | Amortization | |||||||||||
Patents, related technologies and know-how | $ | 41,872 | $ | (10,849 | ) | $ | 31,023 | |||||
Customer relationships | 10,700 | (806 | ) | 9,894 | ||||||||
Trademarks | 5,900 | (298 | ) | 5,602 | ||||||||
In-process research and development | 19,428 | — | 19,428 | |||||||||
Total | $ | 77,900 | $ | (11,953 | ) | $ | 65,947 | |||||
Intangible assets consist of the following at December 31, 2013: | ||||||||||||
Gross Carrying | Accumulated | Net | ||||||||||
Amount | Amortization | |||||||||||
Patents, related technologies and know-how | $ | 34,772 | $ | (7,716 | ) | $ | 27,056 | |||||
In-process research and development | 14,900 | — | 14,900 | |||||||||
Total | $ | 49,672 | $ | (7,716 | ) | $ | 41,956 | |||||
Lines_of_Credit_and_Long_Term_1
Lines of Credit and Long Term Debt (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Debt Disclosure [Abstract] | ||||||||
Schedule of Long-term Debt Instruments | Long term debt consists of the following: | |||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Notes payable | $ | 7,653 | $ | — | ||||
Royalty-based financing | 1,926 | 1,653 | ||||||
Other | 790 | — | ||||||
Long term debt | 10,369 | 1,653 | ||||||
Less current portion | 1,675 | — | ||||||
Long term debt, less current portion | $ | 8,694 | $ | 1,653 | ||||
Schedule of Maturities of Long-term Debt | Future maturities of long term debt are as follows: | |||||||
2015 | $ | 1,675 | ||||||
2016 | 894 | |||||||
2017 | 363 | |||||||
2018 | 360 | |||||||
2019 | 336 | |||||||
Thereafter | 4,815 | |||||||
Total | $ | 8,443 | ||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Schedule of Effective Income Tax Rate Reconciliation | Income tax benefit for the years ended December 31, 2014, 2013 and 2012 differed from amounts computed by applying the applicable U.S. federal corporate income tax rate of 34% to loss before income taxes as a result of the following: | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Computed statutory income tax benefit | $ | (29,144 | ) | $ | (13,909 | ) | $ | (27,837 | ) | |||
Increase in income tax benefit resulting from State income tax benefit, net of federal income taxes | (3,544 | ) | (1,834 | ) | (3,711 | ) | ||||||
Nondeductible stock based compensation | 1,386 | 575 | 333 | |||||||||
Contribution of services by shareholder | 677 | 527 | 527 | |||||||||
Gain in previously held equity investment | — | (2,477 | ) | — | ||||||||
Research and development tax credits | 258 | (1,203 | ) | — | ||||||||
Other, net | 1,503 | 1,317 | (238 | ) | ||||||||
(28,864 | ) | (17,004 | ) | (30,926 | ) | |||||||
Change in valuation allowance for deferred tax assets | 28,761 | 17,004 | 30,926 | |||||||||
Total income tax provision | $ | (103 | ) | $ | — | $ | — | |||||
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that comprise the deferred tax assets and liabilities at December 31, 2014 and 2013, are as follows: | |||||||||||
2014 | 2013 | |||||||||||
Deferred tax assets | ||||||||||||
Allowance for doubtful accounts | $ | 783 | $ | — | ||||||||
Equity securities | 4,694 | 415 | ||||||||||
Property, plant and equipment | 79 | — | ||||||||||
Accrued liabilities and long-term debt | 2,703 | 1,445 | ||||||||||
Stock-based compensation | 8,283 | 1,677 | ||||||||||
Deferred revenue | 43,774 | 28,456 | ||||||||||
Research and development tax credits | 9,661 | 10,062 | ||||||||||
Net operating loss carryforwards | 103,114 | 97,395 | ||||||||||
Total deferred tax assets | 173,091 | 139,450 | ||||||||||
Less: Valuation allowance | 161,660 | 131,985 | ||||||||||
Net deferred tax assets | 11,431 | 7,465 | ||||||||||
Deferred tax liabilities | ||||||||||||
Property, plant and equipment | — | 140 | ||||||||||
Intangible assets | 11,431 | 7,325 | ||||||||||
Total deferred tax liabilities | 11,431 | 7,465 | ||||||||||
Net deferred tax assets (liabilities) | $ | — | $ | — | ||||||||
Summary of Valuation Allowance | Activity within the valuation allowance for deferred tax assets during the years ended December 31, 2014, 2013 and 2012 was as follows: | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Valuation allowance at beginning of year | $ | 131,985 | $ | 113,051 | $ | 82,125 | ||||||
Increase in valuation allowance as a result of | ||||||||||||
Mergers and acquisitions, net | 914 | 1,930 | — | |||||||||
Current year operations | 28,761 | 17,004 | 30,926 | |||||||||
Valuation allowance at end of year | $ | 161,660 | $ | 131,985 | $ | 113,051 | ||||||
Redeemable_Convertible_Preferr1
Redeemable Convertible Preferred Stock and Shareholders' Equity (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||
Summary of Redeemable Convertible Preferred Stock | The tables below represent a rollforward of the Redeemable Convertible Preferred Stock: | ||||||||||||||||||||
Series A | Series B | Series B-1 | |||||||||||||||||||
Redeemable | Redeemable | Redeemable | |||||||||||||||||||
Convertible | Convertible | Convertible | |||||||||||||||||||
Preferred Stock | Preferred Stock | Preferred Stock | |||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||
Balances at December 31, 2011 | 705,400 | $ | 802 | 694,000 | $ | 639 | 1,212,360 | $ | 1,300 | ||||||||||||
Accretion of dividends | — | 556 | — | 30 | — | 60 | |||||||||||||||
Balances at December 31, 2012 | 705,400 | 1,358 | 694,000 | 669 | 1,212,360 | 1,360 | |||||||||||||||
Accretion of dividends | — | 52 | — | 19 | — | 37 | |||||||||||||||
Conversion to common stock | (705,400 | ) | (1,410 | ) | (694,000 | ) | (688 | ) | (1,212,360 | ) | (1,397 | ) | |||||||||
Balances at December 31, 2013 | — | $ | — | — | $ | — | — | $ | — | ||||||||||||
Series C | Series C-1 | Series C-2 | |||||||||||||||||||
Redeemable | Redeemable | Redeemable | |||||||||||||||||||
Convertible | Convertible | Convertible | |||||||||||||||||||
Preferred Stock | Preferred Stock | Preferred Stock | |||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||
Balances at December 31, 2011 | 4,546,360 | $ | 6,729 | 15,934,528 | $ | 32,264 | 18,617,020 | $ | 41,987 | ||||||||||||
Accretion of dividends | — | 405 | — | 1,937 | — | 2,525 | |||||||||||||||
Balances at December 31, 2012 | 4,546,360 | 7,134 | 15,934,528 | 34,201 | 18,617,020 | 44,512 | |||||||||||||||
Accretion of dividends | — | 266 | — | 1,272 | — | 1,660 | |||||||||||||||
Conversion to common stock | (4,546,360 | ) | (7,400 | ) | (15,934,528 | ) | (35,473 | ) | (18,617,020 | ) | (46,172 | ) | |||||||||
Balances at December 31, 2013 | — | $ | — | — | $ | — | — | $ | — | ||||||||||||
Series C-3 | Series D | Series E | |||||||||||||||||||
Redeemable | Redeemable | Redeemable | |||||||||||||||||||
Convertible | Convertible | Convertible | |||||||||||||||||||
Preferred Stock | Preferred Stock | Preferred Stock | |||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||
Balances at December 31, 2011 | 13,297,872 | $ | 28,082 | 19,803,685 | $ | 71,924 | 22,285,716 | $ | 117,954 | ||||||||||||
Issuance of shares | — | — | — | — | 15,809,523 | 83,000 | |||||||||||||||
Accretion of dividends | — | 1,688 | — | 4,328 | — | 10,465 | |||||||||||||||
Stock issuance costs | — | — | — | — | — | (16 | ) | ||||||||||||||
Balances at December 31, 2012 | 13,297,872 | 29,770 | 19,803,685 | 76,252 | 38,095,239 | 211,403 | |||||||||||||||
Accretion of dividends | — | 1,103 | — | 2,827 | — | 7,931 | |||||||||||||||
Conversion to common stock | (13,297,872 | ) | (30,873 | ) | (19,803,685 | ) | (79,078 | ) | (38,095,239 | ) | (219,332 | ) | |||||||||
Settlement of fractional shares upon conversion to common stock | — | — | — | (1 | ) | — | (2 | ) | |||||||||||||
Balances at December 31, 2013 | — | $ | — | — | $ | — | — | $ | — | ||||||||||||
Series F | |||||||||||||||||||||
Redeemable | |||||||||||||||||||||
Convertible | |||||||||||||||||||||
Preferred Stock | |||||||||||||||||||||
Shares | Amount | ||||||||||||||||||||
Balances at December 31, 2012 | — | $ | — | ||||||||||||||||||
Issuance of shares | 19,047,619 | 150,000 | |||||||||||||||||||
Accretion of dividends | — | 3,224 | |||||||||||||||||||
Stock issuance costs | — | (3,148 | ) | ||||||||||||||||||
Conversion to common stock | (19,047,619 | ) | (150,075 | ) | |||||||||||||||||
Settlement of fractional shares upon conversion to common stock | — | (1 | ) | ||||||||||||||||||
Balances at December 31, 2013 | — | $ | — | ||||||||||||||||||
Stock_Option_Plans_Tables
Stock Option Plans (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||
Schedule of Stock Based Compensation Expense Allocation | Stock-based compensation costs included in the consolidated statements of operations are presented below: | ||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Cost of products | $ | 14 | $ | — | $ | — | |||||||||||||||||||||||||||
Cost of services | 142 | — | — | ||||||||||||||||||||||||||||||
Research and development | 4,817 | 514 | 377 | ||||||||||||||||||||||||||||||
Selling, general and administrative | 16,876 | 2,407 | 1,081 | ||||||||||||||||||||||||||||||
Total | $ | 21,849 | $ | 2,921 | $ | 1,458 | |||||||||||||||||||||||||||
Summary of Assumptions Used in Pricing Model | The assumptions used in the Black-Scholes option pricing model for the years ended December 31, 2014, 2013 and 2012 are set forth below: | ||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Valuation assumptions | |||||||||||||||||||||||||||||||||
Expected dividend yield | 0% | 0% | 0% | ||||||||||||||||||||||||||||||
Expected volatility | 62%—64% | 73%—75% | 71%—76% | ||||||||||||||||||||||||||||||
Expected term (years) | 6.25 | 6.25 | 6 | ||||||||||||||||||||||||||||||
Risk-free interest rate | 1.82%—2.14% | 0.96%—1.86% | 0.80%—1.10% | ||||||||||||||||||||||||||||||
Schedule of Stock Option Activity | Stock option activity was as follows: | ||||||||||||||||||||||||||||||||
Number of | Weighted | Weighted | |||||||||||||||||||||||||||||||
Shares | Average | Average | |||||||||||||||||||||||||||||||
Exercise | Remaining | ||||||||||||||||||||||||||||||||
Price | Contractual | ||||||||||||||||||||||||||||||||
Term | |||||||||||||||||||||||||||||||||
Balances at December 31, 2011 | 3,614,530 | $ | 5.22 | 6.67 | |||||||||||||||||||||||||||||
Granted | 548,571 | 7.12 | |||||||||||||||||||||||||||||||
Exercised | (194,570 | ) | (2.43 | ) | |||||||||||||||||||||||||||||
Forfeited | (1,210,857 | ) | (6.30 | ) | |||||||||||||||||||||||||||||
Expired | (444,148 | ) | (2.29 | ) | |||||||||||||||||||||||||||||
Balances at December 31, 2012 | 2,313,526 | 5.9 | 7.87 | ||||||||||||||||||||||||||||||
Granted | 989,709 | 13.06 | |||||||||||||||||||||||||||||||
Exercised | (88,764 | ) | (6.04 | ) | |||||||||||||||||||||||||||||
Forfeited | (335,746 | ) | (6.94 | ) | |||||||||||||||||||||||||||||
Expired | (38,077 | ) | (5.17 | ) | |||||||||||||||||||||||||||||
Balances at December 31, 2013 | 2,840,648 | 8.27 | 7.75 | ||||||||||||||||||||||||||||||
Granted | 7,655,050 | 27.51 | |||||||||||||||||||||||||||||||
Exercised | (315,964 | ) | (4.80 | ) | |||||||||||||||||||||||||||||
Forfeited | (1,855,578 | ) | (24.00 | ) | |||||||||||||||||||||||||||||
Expired | (612 | ) | (7.12 | ) | |||||||||||||||||||||||||||||
Balances at December 31, 2014 | 8,323,544 | 22.59 | 8.64 | ||||||||||||||||||||||||||||||
Exercisable at December 31, 2014 | 1,448,434 | 8.27 | 6.25 | ||||||||||||||||||||||||||||||
Vested and Expected to Vest at December 31, 2014(1) | 6,742,605 | 21.78 | 8.5 | ||||||||||||||||||||||||||||||
-1 | The number of stock options expected to vest takes into account an estimate of expected forfeitures. | ||||||||||||||||||||||||||||||||
Summary of Additional Information About Stock Options | The following table summarizes additional information about stock options outstanding as of December 31, 2014: | ||||||||||||||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||||||||||||
Range of Exercise Prices | Number of | Weighted Average Exercise Price | Weighted | Aggregate | Number of | Weighted Average Exercise Price | Weighted | Aggregate | |||||||||||||||||||||||||
Options | Average | Intrinsic | Options | Average | Intrinsic | ||||||||||||||||||||||||||||
Remaining | Value | Remaining | Value | ||||||||||||||||||||||||||||||
Life | Life | ||||||||||||||||||||||||||||||||
(Years) | (Years) | ||||||||||||||||||||||||||||||||
$ | 0.39 | — | $ | 9.67 | 1,747,494 | $ | 6.49 | 6.25 | $ | 36,772 | 1,293,184 | $ | 6.07 | 5.9 | $ | 27,746 | |||||||||||||||||
$ | 15.39 | — | $ | 22.77 | 2,603,300 | 21.74 | 9.32 | 15,084 | 57,000 | 19.77 | 9.05 | 442 | |||||||||||||||||||||
$ | 24.73 | — | $ | 28.69 | 260,750 | 26.21 | 9.74 | 363 | 8,250 | 28.25 | 8.63 | 1 | |||||||||||||||||||||
$ | 29.95 | 1,000,000 | 29.95 | 9.21 | — | — | — | 0 | — | ||||||||||||||||||||||||
$ | 30.72 | 2,712,000 | 30.72 | 9.22 | — | 90,000 | 30.72 | 9.22 | — | ||||||||||||||||||||||||
8,323,544 | $ | 22.59 | 8.64 | $ | 52,219 | 1,448,434 | $ | 8.27 | 6.25 | $ | 28,189 | ||||||||||||||||||||||
The following table summarizes additional information about stock options outstanding as of December 31, 2013: | |||||||||||||||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||||||||||||
Range of Exercise Prices | Number of | Weighted Average Exercise Price | Weighted | Aggregate | Number of | Weighted Average Exercise Price | Weighted | Aggregate | |||||||||||||||||||||||||
Options | Average | Intrinsic | Options | Average | Intrinsic | ||||||||||||||||||||||||||||
Remaining | Value | Remaining | Value | ||||||||||||||||||||||||||||||
Life | Life | ||||||||||||||||||||||||||||||||
(Years) | (Years) | ||||||||||||||||||||||||||||||||
$ | 0.39 | — | $ | 5.91 | 658,051 | $ | 3.15 | 4.96 | $ | 13,592 | 571,116 | $ | 2.78 | 4.63 | $ | 12,003 | |||||||||||||||||
$ | 7.12 | 1,194,887 | 7.12 | 7.8 | 19,931 | 546,805 | 7.12 | 7.77 | 9,121 | ||||||||||||||||||||||||
$ | 9.67 | 701,710 | 9.67 | 9.41 | 9,915 | 107,142 | 9.67 | 9.41 | 1,514 | ||||||||||||||||||||||||
$ | 19.83 | 225,500 | 19.83 | 9.96 | 895 | — | — | 0 | — | ||||||||||||||||||||||||
$ | 26.76 | — | $ | 28.69 | 60,500 | 27.33 | 9.67 | — | 2,500 | 28.69 | 9.62 | — | |||||||||||||||||||||
2,840,648 | $ | 8.27 | 7.75 | $ | 44,333 | 1,227,563 | $ | 5.37 | 6.44 | $ | 22,638 | ||||||||||||||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Commitments and Contingencies Disclosure [Abstract] | ||||
Future Minimum Lease Payments Under Noncancelable Operating Leases | At December 31, 2014, future minimum lease payments under operating leases having initial or remaining noncancelable lease terms in excess of one year are as follows: | |||
2015 | $ | 4,177 | ||
2016 | 4,162 | |||
2017 | 2,695 | |||
2018 | 1,355 | |||
2019 | 1,275 | |||
Thereafter | 2,430 | |||
$ | 16,094 | |||
Net_Loss_per_Share_Tables
Net Loss per Share (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Historical Computation of Basic and Diluted Net Loss per Share | The following table presents the historical computation of basic and diluted net loss per share: | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Historical net loss per share: | ||||||||||||
Numerator: | ||||||||||||
Net loss attributable to Intrexon | $ | (81,822 | ) | $ | (38,980 | ) | $ | (81,874 | ) | |||
Add: Accretion of dividends on redeemable convertible preferred stock | — | (18,391 | ) | (21,994 | ) | |||||||
Net loss attributable to common shareholders | $ | (81,822 | ) | $ | (57,371 | ) | $ | (103,868 | ) | |||
Denominator: | ||||||||||||
Weighted average shares outstanding, basic and diluted | 99,170,653 | 40,951,952 | 5,533,690 | |||||||||
Net loss attributable to common shareholders per share, basic and diluted | $ | (0.83 | ) | $ | (1.40 | ) | $ | (18.77 | ) | |||
Potentially Dilutive Securities Excluded from Calculation of Net Loss per Share | The following potentially dilutive securities as of December 31, 2014, 2013, and 2012, have been excluded from the computations of diluted weighted average shares outstanding for the years then ended as they would have been anti-dilutive: | |||||||||||
December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Common shares issuable upon conversion of all Series Preferred | — | — | 64,517,977 | |||||||||
Options | 8,323,544 | 2,840,648 | 2,313,526 | |||||||||
Warrants | 352,483 | 414,404 | 511,098 | |||||||||
Total | 8,676,027 | 3,255,052 | 67,342,601 | |||||||||
Quarterly_Financial_Informatio1
Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ||||||||||||||||
Schedule of Quarterly Financial Information (Unaudited) | The following information has been derived from unaudited consolidated statements that, in the opinion of management, include all recurring adjustments necessary for a fair statement of such information. | |||||||||||||||
Three Months Ended | ||||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||||
2014 | 2014 | 2014 | 2014 | |||||||||||||
Total revenues | $ | 7,854 | $ | 11,787 | $ | 21,197 | $ | 31,092 | ||||||||
Operating loss | (17,872 | ) | (18,082 | ) | (15,047 | ) | (18,961 | ) | ||||||||
Net income (loss) | 3,249 | (52,935 | ) | (53,862 | ) | 17,932 | ||||||||||
Net income (loss) attributable to Intrexon | 4,115 | (52,043 | ) | (52,725 | ) | 18,831 | ||||||||||
Net income (loss) attributable to common shareholders per share, basic | $ | 0.04 | $ | (0.53 | ) | $ | (0.53 | ) | $ | 0.19 | ||||||
Net income (loss) attributable to common shareholders per share, diluted | 0.04 | (0.53 | ) | (0.53 | ) | 0.18 | ||||||||||
Three Months Ended | ||||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||||
2013 | 2013 | 2013 | 2013 | |||||||||||||
Total revenues | $ | 3,885 | $ | 6,690 | $ | 6,042 | $ | 7,143 | ||||||||
Operating loss | (14,006 | ) | (14,254 | ) | (12,037 | ) | (17,726 | ) | ||||||||
Net income (loss) | (36,362 | ) | (6,519 | ) | 14,991 | (13,018 | ) | |||||||||
Net income (loss) attributable to Intrexon | (36,311 | ) | (5,963 | ) | 15,498 | (12,204 | ) | |||||||||
Net income (loss) attributable to common shareholders per share, basic | $ | (7.54 | ) | $ | (2.45 | ) | $ | 0.15 | $ | (0.13 | ) | |||||
Net income (loss) attributable to common shareholders per share, diluted | (7.54 | ) | (2.45 | ) | 0.15 | (0.13 | ) | |||||||||
Organization_and_Basis_of_Pres1
Organization and Basis of Presentation - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Mar. 26, 2014 | Aug. 13, 2013 | Jul. 26, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 20, 2014 |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | |||||||
Reverse stock split ratio | 1-for-1.75 | ||||||
Reverse stock split ratio | 0.57143 | ||||||
Shares of common stock | 972,004 | ||||||
Price per share of common stock | $25.72 | ||||||
Aggregate proceeds from the IPO | $0 | $168,801 | $0 | ||||
Shares of common stock | 79,705,130 | ||||||
Number of authorized shares of common stock | 200,000,000 | 200,000,000 | 200,000,000 | ||||
Number of authorized shares of preferred stock | 25,000,000 | ||||||
Exemplar Genetics, LLC | |||||||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | |||||||
Parent ownership interest | 51.00% | ||||||
AquaBounty Technologies, Inc. | |||||||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | |||||||
Parent ownership interest | 60.00% | 59.85% | |||||
Biological & Popular Culture, Inc. | |||||||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | |||||||
Parent ownership interest | 51.00% | ||||||
IPO | |||||||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | |||||||
Shares of common stock | 11,499,998 | ||||||
Price per share of common stock | 16 | ||||||
Aggregate proceeds from the IPO | 168,300 | ||||||
Underwriting discounts and commissions | 12,900 | ||||||
Offering expense paid | 2,800 | ||||||
Capitalized expenses | 2,300 | ||||||
Exercise of Overallotment Option by Underwriters | |||||||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | |||||||
Shares of common stock | 1,499,999 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Entity | Entity | Segment | Entity | ||||||||
Entity | |||||||||||
Organization And Significant Accounting Policies [Line Items] | |||||||||||
Research and development commitments with third parties | $4,541 | $2,445 | $4,541 | $2,445 | |||||||
Research and development commitments with third parties not incurred | 2,183 | 957 | 2,183 | 957 | |||||||
Maturity period of highly liquid investment | 3 months | ||||||||||
Cash equivalent investments in highly liquid money market accounts | 16,598 | 43,733 | 16,598 | 43,733 | |||||||
Number of joint ventures | 3 | 3 | |||||||||
Number of collaborators over which the Company has significant influence | 2 | 2 | 2 | 2 | |||||||
Fair value of financial assets measured at fair value on a recurring basis | 280,497 | 330,086 | 280,497 | 330,086 | |||||||
Unrealized appreciation (depreciation) in the fair value of the Company's equity securities | -10,469 | 10,443 | -6,290 | ||||||||
Percentage of recognized income tax positions | 50.00% | ||||||||||
Number of segments | 1 | ||||||||||
Property, plant and equipment, net | 38,000 | 16,629 | 38,000 | 16,629 | |||||||
Revenues | 31,092 | 21,197 | 11,787 | 7,854 | 7,143 | 6,042 | 6,690 | 3,885 | 71,930 | 23,760 | 13,774 |
ZIOPHARM Oncology, Inc. | |||||||||||
Organization And Significant Accounting Policies [Line Items] | |||||||||||
Company's ownership percentage | 15.70% | 16.40% | 15.70% | 16.40% | |||||||
Oragenics, Inc. | |||||||||||
Organization And Significant Accounting Policies [Line Items] | |||||||||||
Company's ownership percentage | 24.40% | 24.60% | 24.40% | 24.60% | |||||||
Equity securities | |||||||||||
Organization And Significant Accounting Policies [Line Items] | |||||||||||
Fair value of financial assets measured at fair value on a recurring basis | 164,889 | 141,525 | 164,889 | 141,525 | |||||||
Equity securities | ZIOPHARM Oncology, Inc. | |||||||||||
Organization And Significant Accounting Policies [Line Items] | |||||||||||
Fair value of financial assets measured at fair value on a recurring basis | 83,099 | 71,134 | 83,099 | 71,134 | |||||||
Unrealized appreciation (depreciation) in the fair value of the Company's equity securities | 11,965 | 4,836 | -7,194 | ||||||||
Equity securities | Oragenics, Inc. | |||||||||||
Organization And Significant Accounting Policies [Line Items] | |||||||||||
Fair value of financial assets measured at fair value on a recurring basis | 7,192 | 22,161 | 7,192 | 22,161 | |||||||
Unrealized appreciation (depreciation) in the fair value of the Company's equity securities | -14,969 | -90 | 3,540 | ||||||||
Foreign Countries | |||||||||||
Organization And Significant Accounting Policies [Line Items] | |||||||||||
Property, plant and equipment, net | 2,200 | 2,200 | |||||||||
Revenues | $2,166 | ||||||||||
Minimum | |||||||||||
Organization And Significant Accounting Policies [Line Items] | |||||||||||
Expected useful life of intangible asset | 3 years | ||||||||||
Minimum | Leasehold Improvements | |||||||||||
Organization And Significant Accounting Policies [Line Items] | |||||||||||
Property plant and equipment, useful life | 1 year | ||||||||||
Maximum | |||||||||||
Organization And Significant Accounting Policies [Line Items] | |||||||||||
Expected useful life of intangible asset | 14 years | ||||||||||
Maximum | Leasehold Improvements | |||||||||||
Organization And Significant Accounting Policies [Line Items] | |||||||||||
Property plant and equipment, useful life | 14 years |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Summarized Financial Data of Equity Method Investments (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Equity Method Investments [Line Items] | |||
Operating expenses | $141,892 | $81,783 | $88,931 |
Equity Method Investments | |||
Schedule of Equity Method Investments [Line Items] | |||
Current assets | 19,540 | 26,655 | |
Non-current assets | 109 | 27 | |
Total assets | 19,649 | 26,682 | |
Current liabilities | 4,520 | 1,276 | |
Net assets | 15,129 | 25,406 | |
Revenues, net | 940 | 1,032 | 0 |
Operating expenses | 17,289 | 18,498 | 578 |
Loss from operations | -16,349 | -17,466 | -578 |
Other | 35 | 137 | -1 |
Net loss | ($16,314) | ($17,329) | ($579) |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies - Trade Receivables - Rollforward of Allowance for Doubtful Accounts (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Allowance for Doubtful Accounts | |||
Beginning balance | $0 | ||
Charged to operating expenses | 565 | 0 | 0 |
Ending balance | $565 | $0 |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies - Estimated Useful Lives of Property, Plant and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2014 | |
Minimum | Building and building improvements | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment, useful life | 2 years |
Minimum | Furniture and fixtures | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment, useful life | 1 year |
Minimum | Equipment | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment, useful life | 1 year |
Minimum | Land Improvements | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment, useful life | 4 years |
Minimum | Computer hardware and software | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment, useful life | 1 year |
Maximum | Building and building improvements | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment, useful life | 23 years |
Maximum | Furniture and fixtures | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment, useful life | 7 years |
Maximum | Equipment | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment, useful life | 10 years |
Maximum | Land Improvements | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment, useful life | 15 years |
Maximum | Computer hardware and software | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment, useful life | 7 years |
Mergers_and_Acquisitions_Trans
Mergers and Acquisitions - Trans Ova - Additional Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | 0 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 08, 2014 | |
Business Acquisition [Line Items] | ||||||||||||
Deferred cash consideration | $20,115,000 | $0 | $0 | |||||||||
Revenues | 31,092,000 | 21,197,000 | 11,787,000 | 7,854,000 | 7,143,000 | 6,042,000 | 6,690,000 | 3,885,000 | 71,930,000 | 23,760,000 | 13,774,000 | |
Net loss attributable to Intrexon | 18,831,000 | -52,725,000 | -52,043,000 | 4,115,000 | -12,204,000 | 15,498,000 | -5,963,000 | -36,311,000 | -81,822,000 | -38,980,000 | -81,874,000 | |
Trans Ova Genetics, LC | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Percentage of outstanding common stock acquired | 100.00% | |||||||||||
Business acquisition, consideration paid, shares issued | 1,444,388 | |||||||||||
Consideration paid | 63,625,000 | |||||||||||
Deferred cash consideration | 20,115,000 | |||||||||||
Revenues | 26,352,000 | |||||||||||
Net loss attributable to Intrexon | 278,000 | |||||||||||
Fair value of the consideration transferred and noncontrolling interest | 127,875,000 | |||||||||||
Future contingent payments based on revenue targets | 6,000,000 | |||||||||||
Current contingent consideration liability | 0 | |||||||||||
Business combination, acquisition related cost | $713,000 | |||||||||||
Minimum | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Expected useful life of intangible asset | 3 years | |||||||||||
Minimum | Trans Ova Genetics, LC | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Expected useful life of intangible asset | 3 years | |||||||||||
Maximum | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Expected useful life of intangible asset | 14 years | |||||||||||
Maximum | Trans Ova Genetics, LC | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Expected useful life of intangible asset | 9 years |
Mergers_and_Acquisitions_Fair_
Mergers and Acquisitions - Fair Value of Consideration Transferred - Trans Ova (Details) (USD $) | 12 Months Ended | 0 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 08, 2014 |
Business Acquisition [Line Items] | ||||
Deferred cash consideration | $20,115 | $0 | $0 | |
Trans Ova Genetics, LC | ||||
Business Acquisition [Line Items] | ||||
Cash | 63,625 | |||
Common shares | 32,802 | |||
Deferred cash consideration | 20,115 | |||
Total consideration transferred | 116,542 | |||
Fair value of noncontrolling interest | 11,333 | |||
Total | $127,875 |
Mergers_and_Acquisitions_Fair_1
Mergers and Acquisitions - Fair Value of Assets Acquired and Liabilities Assumed - Trans Ova (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 08, 2014 |
In Thousands, unless otherwise specified | ||||
Business Acquisition [Line Items] | ||||
Goodwill | $101,059 | $13,823 | $0 | |
Scenario, Actual | Trans Ova Genetics, LC | ||||
Business Acquisition [Line Items] | ||||
Cash | 960 | |||
Trade receivables | 18,693 | |||
Related party receivables | 1,219 | |||
Inventory | 18,476 | |||
Prepaid expenses and other | 590 | |||
Property, plant and equipment | 21,164 | |||
Intangible assets | 23,700 | |||
Other non-current assets | 147 | |||
Total assets acquired | 84,949 | |||
Accounts payable | 3,317 | |||
Accrued compensation and benefits | 913 | |||
Other accrued liabilities | 271 | |||
Deferred revenue | 4,458 | |||
Lines of credit | 4,091 | |||
Related party payables | 1,246 | |||
Long term debt | 9,090 | |||
Total liabilities assumed | 23,386 | |||
Net assets acquired | 61,563 | |||
Goodwill | 66,312 | |||
Total consideration and fair value of noncontrolling interest | 127,875 | |||
Scenario, Plan | Trans Ova Genetics, LC | ||||
Business Acquisition [Line Items] | ||||
Cash | 960 | |||
Trade receivables | 17,996 | |||
Related party receivables | 1,219 | |||
Inventory | 17,256 | |||
Prepaid expenses and other | 590 | |||
Property, plant and equipment | 18,686 | |||
Intangible assets | 24,100 | |||
Other non-current assets | 147 | |||
Total assets acquired | 80,954 | |||
Accounts payable | 3,317 | |||
Accrued compensation and benefits | 913 | |||
Other accrued liabilities | 271 | |||
Deferred revenue | 2,420 | |||
Lines of credit | 4,091 | |||
Related party payables | 1,246 | |||
Long term debt | 9,090 | |||
Total liabilities assumed | 21,348 | |||
Net assets acquired | 59,606 | |||
Goodwill | 63,913 | |||
Total consideration and fair value of noncontrolling interest | 123,519 | |||
Scenario, Adjustment | Trans Ova Genetics, LC | ||||
Business Acquisition [Line Items] | ||||
Trade receivables | 697 | |||
Inventory | 1,220 | |||
Property, plant and equipment | 2,478 | |||
Intangible assets | -400 | |||
Total assets acquired | 3,995 | |||
Deferred revenue | 2,038 | |||
Total liabilities assumed | 2,038 | |||
Net assets acquired | 1,957 | |||
Goodwill | 2,399 | |||
Total consideration and fair value of noncontrolling interest | $4,356 |
Mergers_and_Acquisitions_Medis
Mergers and Acquisitions - Medistem - Additional Information (Details) (Medistem, Inc., USD $) | 0 Months Ended | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 06, 2014 | Dec. 31, 2014 | Dec. 31, 2013 |
Business Acquisition [Line Items] | |||
Percentage of outstanding common stock acquired | 100.00% | ||
Business acquisition, consideration paid, shares issued | 714,144 | ||
Consideration paid | $4,920 | ||
Number of promissory notes settled | 2 | ||
Fair value of consideration transferred | 24,995 | ||
Shares surrendered to pay withholding taxes shares | 17,695 | ||
Business combination, acquisition related cost | 680 | ||
Selling, general and administrative | |||
Business Acquisition [Line Items] | |||
Business combination, acquisition related cost | 310 | 370 | |
Promissory Notes | |||
Business Acquisition [Line Items] | |||
Fair value of consideration transferred | $707 |
Mergers_and_Acquisitions_Fair_2
Mergers and Acquisitions - Fair Value of Consideration Transferred - Medistem (Details) (Medistem, Inc., USD $) | 0 Months Ended |
In Thousands, unless otherwise specified | Mar. 06, 2014 |
Business Acquisition [Line Items] | |
Cash | $4,920 |
Common shares | 19,368 |
Fair value of consideration transferred | 24,995 |
Settlement of promissory notes | |
Business Acquisition [Line Items] | |
Fair value of consideration transferred | $707 |
Mergers_and_Acquisitions_Fair_3
Mergers and Acquisitions - Fair Value of Assets Acquired and Liabilities Assumed - Medistem (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 06, 2014 |
In Thousands, unless otherwise specified | ||||
Business Acquisition [Line Items] | ||||
Goodwill | $101,059 | $13,823 | $0 | |
Scenario, Plan | Medistem, Inc. | ||||
Business Acquisition [Line Items] | ||||
Cash | 8 | |||
Intangible assets | 0 | |||
Total assets acquired | 8 | |||
Accounts payable | 644 | |||
Accrued compensation and benefits | 85 | |||
Other accrued expenses | 150 | |||
Total liabilities assumed | 879 | |||
Net assets acquired | -871 | |||
Goodwill | 25,866 | |||
Total consideration and fair value of noncontrolling interest | 24,995 | |||
Scenario, Adjustment | Medistem, Inc. | ||||
Business Acquisition [Line Items] | ||||
Cash | 0 | |||
Intangible assets | 4,824 | |||
Total assets acquired | 4,824 | |||
Accounts payable | 0 | |||
Accrued compensation and benefits | -18 | |||
Other accrued expenses | -100 | |||
Total liabilities assumed | -118 | |||
Net assets acquired | 4,942 | |||
Goodwill | -4,942 | |||
Total consideration and fair value of noncontrolling interest | 0 | |||
Scenario, Actual | Medistem, Inc. | ||||
Business Acquisition [Line Items] | ||||
Cash | 8 | |||
Intangible assets | 4,824 | |||
Total assets acquired | 4,832 | |||
Accounts payable | 644 | |||
Accrued compensation and benefits | 67 | |||
Other accrued expenses | 50 | |||
Total liabilities assumed | 761 | |||
Net assets acquired | 4,071 | |||
Goodwill | 20,924 | |||
Total consideration and fair value of noncontrolling interest | $24,995 |
Mergers_and_Acquisitions_Discl
Mergers and Acquisitions - Disclosure - Pro Forma Financial Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | |||||||||||
Loss before income taxes | ($85,719) | ($40,908) | ($81,874) | ||||||||
Net loss | 17,932 | -53,862 | -52,935 | 3,249 | -13,018 | 14,991 | -6,519 | -36,362 | -85,616 | -40,908 | -81,874 |
Net loss attributable to the noncontrolling interests | 3,794 | 1,928 | 0 | ||||||||
Accretion of dividends on redeemable convertible preferred stock | 0 | -18,391 | -21,994 | ||||||||
Net loss attributable to common shareholders | -81,822 | -57,371 | -103,868 | ||||||||
Pro Forma | |||||||||||
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | |||||||||||
Revenues | 119,721 | 86,991 | |||||||||
Loss before income taxes | -82,041 | -41,718 | |||||||||
Net loss | -81,938 | -41,718 | |||||||||
Net loss attributable to the noncontrolling interests | 4,159 | 2,766 | |||||||||
Net loss attributable to Intrexon | -77,779 | -38,952 | |||||||||
Accretion of dividends on redeemable convertible preferred stock | 0 | -18,391 | |||||||||
Net loss attributable to common shareholders | ($77,779) | ($57,343) |
Consolidated_MajorityOwned_Sub2
Consolidated Majority-Owned Subsidiaries - AquaBounty Additional Information (Details) (USD $) | 12 Months Ended | 0 Months Ended | 3 Months Ended | |||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 20, 2014 | Mar. 15, 2013 | Nov. 29, 2012 | Nov. 16, 2012 | Feb. 28, 2013 |
Business Acquisition [Line Items] | ||||||||
Gain in previously held equity investment | $0 | $7,415 | $0 | |||||
AquaBounty Technologies, Inc. | ||||||||
Business Acquisition [Line Items] | ||||||||
Number of shares acquired | 48,631,444 | |||||||
Company's ownership percentage | 47.56% | |||||||
Definitive purchase agreement amount | 6,000 | |||||||
Amount of loan allowed in promissory note | 500 | |||||||
Annual interest rate | 3.00% | |||||||
Maturity date of promissory note | 5/28/13 | |||||||
Amount drawn on promissory note | 500 | |||||||
Promissory note repaid | 500 | |||||||
Number of shares acquired | 18,714,814 | |||||||
Cash | 4,907 | |||||||
Aggregate percentage of ownership | 53.82% | |||||||
Gain in previously held equity investment | 7,415 | |||||||
Percentage of equity interest previously held | 47.56% | |||||||
Purchase of additional equity interest of majority owned subsidiary | 10,000 | |||||||
Shares issued by majority owned subsidiary to parent | 19,040,366 | |||||||
Parent ownership interest | 60.00% | 59.85% | ||||||
AquaBounty Technologies, Inc. | Pro Forma | ||||||||
Business Acquisition [Line Items] | ||||||||
Gain in previously held equity investment | $7,415 | $7,415 | ||||||
AquaBounty Technologies, Inc. | In-process research and development | ||||||||
Business Acquisition [Line Items] | ||||||||
Expected useful life of intangible asset | 15 years |
Consolidated_MajorityOwned_Sub3
Consolidated Majority-Owned Subsidiaries - Summary of Consideration Transferred - AquaBounty (Details) (AquaBounty Technologies, Inc., USD $) | 0 Months Ended |
In Thousands, unless otherwise specified | Mar. 15, 2013 |
AquaBounty Technologies, Inc. | |
Business Acquisition [Line Items] | |
Consideration paid | $4,907 |
Fair value of noncontrolling interest | 15,153 |
Fair value of the Company’s investment in affiliate held before the business combination | 12,751 |
Fair value of the consideration transferred and noncontrolling interest | $32,811 |
Consolidated_MajorityOwned_Sub4
Consolidated Majority-Owned Subsidiaries - Fair Value of Assets Acquired and Liabilities Assumed - AquaBounty (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 15, 2013 |
In Thousands, unless otherwise specified | ||||
Business Acquisition [Line Items] | ||||
Goodwill | $101,059 | $13,823 | $0 | |
AquaBounty Technologies, Inc. | ||||
Business Acquisition [Line Items] | ||||
Cash | 5,419 | |||
Short-term investments | 14 | |||
Trade receivables | 4 | |||
Other receivables | 9 | |||
Prepaid expenses and other | 200 | |||
Property, plant and equipment | 1,241 | |||
Intangible assets | 14,900 | |||
Other assets | 22 | |||
Total assets acquired | 21,809 | |||
Accounts payable | 156 | |||
Accrued compensation | 94 | |||
Other accrued liabilities | 395 | |||
Long-term debt | 1,354 | |||
Total liabilities assumed | 1,999 | |||
Net assets acquired | 19,810 | |||
Goodwill | 13,001 | |||
Total consideration and fair value of noncontrolling interest | $32,811 |
Consolidated_MajorityOwned_Sub5
Consolidated Majority-Owned Subsidiaries - Pro Forma Financial Information - AquaBounty (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Business Acquisition [Line Items] | |||||||||||
Net loss | $17,932 | ($53,862) | ($52,935) | $3,249 | ($13,018) | $14,991 | ($6,519) | ($36,362) | ($85,616) | ($40,908) | ($81,874) |
Net loss attributable to noncontrolling interest | 3,794 | 1,928 | 0 | ||||||||
Add: Accretion of dividends on redeemable convertible preferred stock | 0 | -18,391 | -21,994 | ||||||||
Net loss attributable to common shareholders | -81,822 | -57,371 | -103,868 | ||||||||
Pro Forma | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Revenues | 119,721 | 86,991 | |||||||||
Net loss | -81,938 | -41,718 | |||||||||
Net loss attributable to noncontrolling interest | 4,159 | 2,766 | |||||||||
Net loss attributable to Intrexon | -77,779 | -38,952 | |||||||||
Add: Accretion of dividends on redeemable convertible preferred stock | 0 | -18,391 | |||||||||
Net loss attributable to common shareholders | -77,779 | -57,343 | |||||||||
Pro Forma | AquaBounty Technologies, Inc. | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Revenues | 23,760 | 13,774 | |||||||||
Net loss | -48,760 | -78,651 | |||||||||
Net loss attributable to noncontrolling interest | 2,310 | 2,062 | |||||||||
Net loss attributable to Intrexon | -46,450 | -76,589 | |||||||||
Add: Accretion of dividends on redeemable convertible preferred stock | -18,391 | -21,994 | |||||||||
Net loss attributable to common shareholders | ($64,841) | ($98,583) |
Consolidated_MajorityOwned_Sub6
Consolidated Majority-Owned Subsidiaries - BioPop Additional Information (Details) (USD $) | 0 Months Ended | |||
In Thousands, unless otherwise specified | Oct. 01, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Business Acquisition [Line Items] | ||||
Goodwill | $101,059 | $13,823 | $0 | |
Biological & Popular Culture, Inc. | ||||
Business Acquisition [Line Items] | ||||
Total consideration transferred | 1,300 | |||
Percentage of outstanding common stock acquired | 51.00% | |||
Goodwill | 822 | |||
Intangible assets | $430 | |||
Biological & Popular Culture, Inc. | Patents, related technologies and know-how | ||||
Business Acquisition [Line Items] | ||||
Acquired intangible assets, useful life | 4 years |
Investments_in_Joint_Ventures_
Investments in Joint Ventures - Investment in Intrexon Energy Partners - Additional Information (Details) (USD $) | 1 Months Ended | ||
Mar. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
Schedule Of Investments In Joint Venture [Line Items] | |||
Investment | $3,220,000 | $6,284,000 | |
Intrexon Energy Partners, LLC | |||
Schedule Of Investments In Joint Venture [Line Items] | |||
Company's ownership percentage | 50.00% | ||
Joint venture additional capital contributions committed | 23,625,000 | ||
Investment | -740,000 | ||
Investor | Intrexon Energy Partners, LLC | |||
Schedule Of Investments In Joint Venture [Line Items] | |||
Company's ownership percentage | 50.00% | ||
Initial capital contribution | 25,000,000 | ||
Maximum | Intrexon Energy Partners, LLC | |||
Schedule Of Investments In Joint Venture [Line Items] | |||
Joint venture additional capital contributions committed | 25,000,000 | ||
Maximum | Investor | Intrexon Energy Partners, LLC | |||
Schedule Of Investments In Joint Venture [Line Items] | |||
Joint venture additional capital contributions committed | 25,000,000 | ||
Intrexon Energy Partners, LLC | Upfront and Milestone Payments | Upfront | |||
Schedule Of Investments In Joint Venture [Line Items] | |||
Collaborative arrangement consideration received, value | $25,000,000 |
Investments_in_Joint_Ventures_1
Investments in Joint Ventures - Investment in OvaXon - Additional Information (Detail) (USD $) | 1 Months Ended | ||
Jan. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
Schedule Of Investments In Joint Venture [Line Items] | |||
Investment | $3,220,000 | $6,284,000 | |
OvaXon, LLC | |||
Schedule Of Investments In Joint Venture [Line Items] | |||
Initial capital contribution | 1,500,000 | ||
Membership interest | 50.00% | ||
Investment | ($83,000) | $1,500,000 |
Investments_in_Joint_Ventures_2
Investments in Joint Ventures - Investment in S & I Ophthalmic - Additional Information (Detail) (USD $) | 1 Months Ended | ||
Oct. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | |
Schedule Of Investments In Joint Venture [Line Items] | |||
Investment | $3,220,000 | $6,284,000 | |
S & I Ophthalmic, LLC | |||
Schedule Of Investments In Joint Venture [Line Items] | |||
Initial capital contribution | 5,000,000 | ||
Membership interest | 50.00% | ||
Investment | $3,220,000 | $4,784,000 |
Collaboration_Revenue_Summariz
Collaboration Revenue - Summarized Amount of Collaboration Recorded in Consolidated Statement of Operations (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | $45,212 | $23,525 | $13,706 |
ZIOPHARM Oncology, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 14,621 | 10,395 | 11,401 |
Synthetic Biologics, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 924 | 3,235 | 620 |
Oragenics, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 1,643 | 2,190 | 836 |
Fibrocell Science, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 6,192 | 4,706 | 219 |
Genopaver, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 1,783 | 1,139 | |
S & I Ophthalmic, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 2,832 | 417 | |
OvaXon, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 2,799 | ||
Intrexon Energy Partners, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 6,102 | ||
Other | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 8,316 | 1,443 | 630 |
Upfront and Milestone Payments | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 9,625 | 6,944 | 5,851 |
Upfront and Milestone Payments | ZIOPHARM Oncology, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 2,577 | 2,577 | 5,068 |
Upfront and Milestone Payments | Synthetic Biologics, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 651 | 2,187 | 293 |
Upfront and Milestone Payments | Oragenics, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 1,045 | 673 | 320 |
Upfront and Milestone Payments | Fibrocell Science, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 1,794 | 970 | 158 |
Upfront and Milestone Payments | Genopaver, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 273 | 204 | |
Upfront and Milestone Payments | S & I Ophthalmic, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 0 | 0 | |
Upfront and Milestone Payments | OvaXon, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 0 | ||
Upfront and Milestone Payments | Intrexon Energy Partners, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 1,875 | ||
Upfront and Milestone Payments | Other | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 1,410 | 333 | 12 |
Research and Development Services | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 35,587 | 16,581 | 7,855 |
Research and Development Services | ZIOPHARM Oncology, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 12,044 | 7,818 | 6,333 |
Research and Development Services | Synthetic Biologics, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 273 | 1,048 | 327 |
Research and Development Services | Oragenics, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 598 | 1,517 | 516 |
Research and Development Services | Fibrocell Science, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 4,398 | 3,736 | 61 |
Research and Development Services | Genopaver, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 1,510 | 935 | |
Research and Development Services | S & I Ophthalmic, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 2,832 | 417 | |
Research and Development Services | OvaXon, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 2,799 | ||
Research and Development Services | Intrexon Energy Partners, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | 4,227 | ||
Research and Development Services | Other | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration revenues | $6,906 | $1,110 | $618 |
Collaboration_Revenue_Addition
Collaboration Revenue - Additional Information (Detail) (USD $) | 12 Months Ended | 1 Months Ended | 13 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | ||||||||||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2011 | Oct. 31, 2012 | Nov. 30, 2011 | Aug. 31, 2013 | Jun. 30, 2012 | Sep. 30, 2013 | Dec. 18, 2013 | Apr. 30, 2013 | Jan. 31, 2014 | Jun. 30, 2013 | Mar. 31, 2013 | Feb. 28, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2014 | Jan. 31, 2015 | Aug. 31, 2012 | |
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaboration revenue | $45,212,000 | $23,525,000 | $13,706,000 | |||||||||||||||||
Deferred revenue | 113,209,000 | 73,571,000 | 73,571,000 | 113,209,000 | ||||||||||||||||
Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaboration revenue | 9,625,000 | 6,944,000 | 5,851,000 | |||||||||||||||||
Deferred revenue | 107,228,000 | 72,207,000 | 72,207,000 | 107,228,000 | ||||||||||||||||
Research and Development Services | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaboration revenue | 35,587,000 | 16,581,000 | 7,855,000 | |||||||||||||||||
ZIOPHARM Oncology, Inc. | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Percent of shares outstanding at the date of achievement of future milestone | 7.50% | |||||||||||||||||||
Royalty rate as a percentage of net profit | 50.00% | |||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||||
ZIOPHARM Oncology, Inc. | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Deferred revenue | 23,193,000 | 25,770,000 | 25,770,000 | 23,193,000 | ||||||||||||||||
ZIOPHARM Oncology, Inc. | Upfront | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaborative arrangement consideration received, shares | 3,636,926 | |||||||||||||||||||
Collaborative arrangement consideration received, value | 17,457,000 | |||||||||||||||||||
ZIOPHARM Oncology, Inc. | Milestone One | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaborative arrangement consideration received, shares | 3,636,926 | |||||||||||||||||||
Collaborative arrangement consideration received, value | 18,330,000 | |||||||||||||||||||
Ziopharm Oncology Ecc Separate Unit Of Accounting | Upfront | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaboration revenue | 1,115,000 | |||||||||||||||||||
Ziopharm Oncology Unit of Accounting One | Upfront | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Deferred revenue | 16,342,000 | |||||||||||||||||||
Synthetic Biologics Field One ECC | Upfront | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaborative arrangement consideration received, shares | 3,123,558 | |||||||||||||||||||
Collaborative arrangement consideration received, value | 1,687,000 | |||||||||||||||||||
Synthetic Biologics Field Two ECC | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||||
Consideration to be received upon achievement of future milestone 1 | 2,000,000 | |||||||||||||||||||
Consideration to be received upon achievement of future milestone 2 | 3,000,000 | |||||||||||||||||||
Synthetic Biologics Field Two ECC | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Deferred revenue | 6,349,000 | 7,000,000 | 7,000,000 | 6,349,000 | ||||||||||||||||
Synthetic Biologics Field Two ECC | Upfront | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaborative arrangement consideration received, shares | 3,552,210 | |||||||||||||||||||
Collaborative arrangement consideration received, value | 7,815,000 | |||||||||||||||||||
Synthetic Biologics, Inc. | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaboration revenue | 924,000 | 3,235,000 | 620,000 | |||||||||||||||||
Synthetic Biologics, Inc. | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaboration revenue | 651,000 | 2,187,000 | 293,000 | |||||||||||||||||
Synthetic Biologics, Inc. | Research and Development Services | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaboration revenue | 273,000 | 1,048,000 | 327,000 | |||||||||||||||||
Deferred revenue | 2,500,000 | |||||||||||||||||||
Oragenics ECC | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Percent of shares outstanding at the date of achievement of future milestone | 1.00% | |||||||||||||||||||
Royalty rate as a percentage of net profit | 25.00% | |||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||||
Percentage of shares outstanding at the date of achievement of future milestone 2 | 1.50% | |||||||||||||||||||
Percentage of shares outstanding at the date of achievement of future milestone 3 | 2.00% | |||||||||||||||||||
Percentage of shares outstanding at the date of achievement of future milestone 4 | 2.50% | |||||||||||||||||||
Percentage of shares outstanding at the date of achievement of future milestone 5 | 3.00% | |||||||||||||||||||
Oragenics ECC | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Deferred revenue | 5,171,000 | 5,720,000 | 5,720,000 | 5,171,000 | ||||||||||||||||
Oragenics ECC | Upfront | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaborative arrangement consideration received, shares | 4,392,425 | |||||||||||||||||||
Collaborative arrangement consideration received, value | 6,588,000 | |||||||||||||||||||
Oragenics Second ECC | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||||
Consideration to be received upon achievement of future milestone 1 | 2,000,000 | |||||||||||||||||||
Consideration to be received upon achievement of future milestone 2 | 5,000,000 | |||||||||||||||||||
Consideration to be received upon achievement of future milestone 3 | 10,000,000 | |||||||||||||||||||
Royalty rate as a percentage of net sales, tier 1 | 10.00% | |||||||||||||||||||
Oragenics Second ECC | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Deferred revenue | 4,839,000 | 5,335,000 | 5,335,000 | 4,839,000 | ||||||||||||||||
Oragenics Second ECC | Upfront | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaborative arrangement consideration received, shares | 1,348,000 | |||||||||||||||||||
Collaborative arrangement consideration received, value | 3,503,000 | |||||||||||||||||||
Collaborative arrangement consideration received, value of convertible promissory note | 1,956,000 | |||||||||||||||||||
Maturity date of promissory note | December 31, 2013 | |||||||||||||||||||
Conversion of promissory note into Common stock | 698,241 | |||||||||||||||||||
Fibrocell Science, Inc. | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||||
Royalty rate as a percentage of net sales, tier 1 | 7.00% | |||||||||||||||||||
Level of net sales at which royalty rate changes to tier 2 | 25,000,000 | |||||||||||||||||||
Royalty rate as a percentage of net sales, tier 2 | 14.00% | |||||||||||||||||||
Royalty rate of savings from improvement | 33.00% | |||||||||||||||||||
Fibrocell Science, Inc. | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Deferred revenue | 17,491,000 | 14,060,000 | 14,060,000 | 17,491,000 | ||||||||||||||||
Fibrocell Science, Inc. | Upfront | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaborative arrangement consideration received, shares | 1,317,520 | |||||||||||||||||||
Collaborative arrangement consideration received, value | 7,576,000 | |||||||||||||||||||
Number of reverse stock split | 1-for-25 reverse stock split | |||||||||||||||||||
Fibrocell Science, Inc. | Supplemental Upfront | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaborative arrangement consideration received, shares | 1,024,590 | 1,243,781 | ||||||||||||||||||
Deferred revenue | 5,225,000 | 7,612,000 | ||||||||||||||||||
Genopaver, LLC | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||||
Genopaver, LLC | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Deferred revenue | 2,523,000 | 2,796,000 | 2,796,000 | 2,523,000 | ||||||||||||||||
Genopaver, LLC | Upfront | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaborative arrangement consideration received, value | 3,000,000 | |||||||||||||||||||
AquaBounty ECC | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Royalty rate as a percentage of gross profit | 16.66% | |||||||||||||||||||
S & I Ophthalmic, LLC | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaboration revenue | 2,832,000 | 417,000 | ||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||||
S & I Ophthalmic, LLC | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaboration revenue | 0 | 0 | ||||||||||||||||||
S & I Ophthalmic, LLC | Research and Development Services | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaboration revenue | 2,832,000 | 417,000 | ||||||||||||||||||
OvaXon, LLC | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaboration revenue | 2,799,000 | |||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||||
OvaXon, LLC | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaboration revenue | 0 | |||||||||||||||||||
OvaXon, LLC | Research and Development Services | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaboration revenue | 2,799,000 | |||||||||||||||||||
Intrexon Energy Partners, LLC | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaboration revenue | 6,102,000 | |||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||||
Intrexon Energy Partners, LLC | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaboration revenue | 1,875,000 | |||||||||||||||||||
Deferred revenue | 23,125,000 | 23,125,000 | ||||||||||||||||||
Intrexon Energy Partners, LLC | Research and Development Services | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaboration revenue | 4,227,000 | |||||||||||||||||||
Intrexon Energy Partners, LLC | Upfront | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaborative arrangement consideration received, value | 25,000,000 | |||||||||||||||||||
Persea Bio, LLC | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||||
Persea Bio, LLC | Upfront | Upfront and Milestone Payments | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaborative arrangement consideration received, value | 5,000,000 | |||||||||||||||||||
Persea Bio, LLC | Upfront | Upfront and Milestone Payments | Subsequent Event | ||||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||||
Collaborative arrangement consideration received, value | $5,000,000 |
Collaboration_Revenue_Summary_
Collaboration Revenue - Summary of Deferred Revenue (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred Revenue Arrangement [Line Items] | ||
Current portion of deferred revenue | $16,522 | $7,793 |
Long-term portion of deferred revenue | 96,687 | 65,778 |
Deferred revenue | 113,209 | 73,571 |
Upfront and milestone payments | ||
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | 107,228 | 72,207 |
Prepaid research and development services | ||
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | 1,045 | 1,319 |
Prepaid product and service revenues | ||
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | 4,365 | 0 |
Other | ||
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | $571 | $45 |
Shortterm_and_Longterm_Investm2
Short-term and Long-term Investments - Summary of Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Short-term and Long-term Investments (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $115,566 | $188,540 |
Gross Unrealized Gains | 54 | 35 |
Gross Unrealized Losses | -12 | -14 |
Aggregate Fair Value | 115,608 | 188,561 |
U.S. government debt securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 115,293 | 178,277 |
Gross Unrealized Gains | 54 | 35 |
Gross Unrealized Losses | -12 | -13 |
Aggregate Fair Value | 115,335 | 178,299 |
Commercial paper | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 7,997 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | 0 | |
Aggregate Fair Value | 7,997 | |
Certificates of deposit | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 273 | 2,266 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | -1 |
Aggregate Fair Value | $273 | $2,265 |
Shortterm_and_Longterm_Investm3
Short-term and Long-term Investments - Summary of Estimated Fair Value of Available-for-Sale Investments Classified by Contractual Maturities (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investments, Debt and Equity Securities [Abstract] | ||
Due within one year | $88,495 | |
After one year through two years | 27,113 | |
Aggregate Fair Value | $115,608 | $188,561 |
Fair_Value_Measurements_Summar
Fair Value Measurements - Summary of Placement in the Fair Value Hierarchy of Financial Assets that are Measured at Fair Value on a Recurring Basis (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | $280,497,000 | $330,086,000 |
Additional disclosure | ||
Fair Value Transfers Between Levels Amount | 0 | 0 |
US government debt securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | 115,335,000 | 178,299,000 |
Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | 7,997,000 | |
Certificates of deposit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | 273,000 | 2,265,000 |
Equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | 164,889,000 | 141,525,000 |
Quoted Prices in Active Markets (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | 143,927,000 | 110,297,000 |
Quoted Prices in Active Markets (Level 1) | US government debt securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | 0 | 0 |
Quoted Prices in Active Markets (Level 1) | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | 0 | |
Quoted Prices in Active Markets (Level 1) | Certificates of deposit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | 0 | 0 |
Quoted Prices in Active Markets (Level 1) | Equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | 143,927,000 | 110,297,000 |
Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | 136,570,000 | 219,789,000 |
Significant Other Observable Inputs (Level 2) | US government debt securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | 115,335,000 | 178,299,000 |
Significant Other Observable Inputs (Level 2) | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | 7,997,000 | |
Significant Other Observable Inputs (Level 2) | Certificates of deposit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | 273,000 | 2,265,000 |
Significant Other Observable Inputs (Level 2) | Equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | 20,962,000 | 31,228,000 |
Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) | US government debt securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | 0 | |
Significant Unobservable Inputs (Level 3) | Certificates of deposit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets | $0 | $0 |
Inventory_Schedule_of_Inventor
Inventory - Schedule of Inventory (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Inventory [Line Items] | ||
Inventory | $25,789 | $0 |
Supplies, semen and embryos | ||
Inventory [Line Items] | ||
Inventory | 1,184 | |
Work in process | ||
Inventory [Line Items] | ||
Inventory | 5,637 | |
Livestock | ||
Inventory [Line Items] | ||
Inventory | 16,996 | |
Feed | ||
Inventory [Line Items] | ||
Inventory | $1,972 |
Property_Plant_and_Equipment_n2
Property, Plant and Equipment, net - Schedule of Property Plant and Equipment (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Abstract] | ||
Land and land improvements | $7,565 | $55 |
Buildings and building improvements | 7,265 | 945 |
Furniture and fixtures | 1,236 | 876 |
Equipment | 31,983 | 22,275 |
Leasehold improvements | 6,382 | 5,147 |
Computer hardware and software | 5,060 | 4,294 |
Construction in progress | 1,002 | 314 |
Property, plant and equipment, gross | 60,493 | 33,906 |
Less: Accumulated depreciation and amortization | -22,493 | -17,277 |
Property, plant and equipment, net | $38,000 | $16,629 |
Recovered_Sheet1
Property, Plant and Equipment, Net - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Abstract] | |||
Depreciation expense | $6,178 | $4,325 | $4,957 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets, net - Schedule of Changes in Carrying Amount of Goodwill (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Goodwill | ||
Beginning Balance | $13,823 | $0 |
Acquisitions | 87,236 | 13,823 |
Ending Balance | $101,059 | $13,823 |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets, net - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Goodwill And Intangible Assets [Line Items] | |||
Accumulated impairment losses | $0 | $0 | |
Amortization expense | 4,237,000 | 2,880,000 | 3,027,000 |
Total estimated amortization expense, 2015 | 6,321,000 | ||
Total estimated amortization expense, 2016 | 6,321,000 | ||
Total estimated amortization expense, 2017 | 6,072,000 | ||
Total estimated amortization expense, 2018 | 5,462,000 | ||
Total estimated amortization expense, 2019 | 5,139,000 | ||
Total estimateed amortization expense, thereafter | $17,204,000 | ||
Weighted Average | Patents, related technologies and know-how | |||
Goodwill And Intangible Assets [Line Items] | |||
Expected useful life of intangible asset | 11 years 6 months 11 days | ||
Weighted Average | Customer relationships | |||
Goodwill And Intangible Assets [Line Items] | |||
Expected useful life of intangible asset | 6 years 5 months 19 days | ||
Weighted Average | Trademarks | |||
Goodwill And Intangible Assets [Line Items] | |||
Expected useful life of intangible asset | 8 years 5 months 1 day |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets, net - Schedule of Intangible Assets (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $77,900 | $49,672 |
Accumulated Amortization | -11,953 | -7,716 |
Net | 65,947 | 41,956 |
Patents, related technologies and know-how | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 41,872 | 34,772 |
Accumulated Amortization | -10,849 | -7,716 |
Net | 31,023 | 27,056 |
Customer relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 10,700 | |
Accumulated Amortization | -806 | |
Net | 9,894 | |
Trademarks | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 5,900 | |
Accumulated Amortization | -298 | |
Net | 5,602 | |
In-process research and development | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 19,428 | 14,900 |
Net | $19,428 | $14,900 |
Lines_of_Credit_and_Long_Term_2
Lines of Credit and Long Term Debt - Lines of Credit Additional Information (Details) (Revolving Credit Facility, USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Trans Ova Genetics, LC | First National Bank of Omaha | |
Line of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | $10,000,000 |
Debt instrument, interest rate, stated percentage rate range, minimum | 3.00% |
Line of credit facility, interest rate at period end | 3.12% |
Line of credit outstanding | 1,728,000 |
Line of credit facility, remaining borrowing capacity | 8,272,000 |
Trans Ova Genetics, LC | First National Bank of Omaha | London Interbank Offered Rate (LIBOR) | |
Line of Credit Facility [Line Items] | |
Debt instrument, basis spread on variable rate | 2.95% |
Exemplar Genetics, LLC | American State Bank | |
Line of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | 700,000 |
Line of credit outstanding | 545,000 |
Line of credit facility, remaining borrowing capacity | $155,000 |
Debt instrument, interest rate, stated percentage | 4.50% |
Lines_of_Credit_and_Long_Term_3
Lines of Credit and Long Term Debt - Components of Long Term Debt (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ||
Long-term debt | $10,369 | $1,653 |
Current portion of long term debt | 1,675 | 0 |
Long term debt, net of current portion | 8,694 | 1,653 |
Notes payable | ||
Debt Instrument [Line Items] | ||
Long-term debt | 7,653 | 0 |
Royalty-based financing | ||
Debt Instrument [Line Items] | ||
Long-term debt | 1,926 | 1,653 |
Other | ||
Debt Instrument [Line Items] | ||
Long-term debt | $790 | $0 |
Lines_of_Credit_and_Long_Term_4
Lines of Credit and Long Term Debt - Long Term Debt Additional Information (Details) (USD $) | 12 Months Ended | 0 Months Ended | 22 Months Ended | |
Dec. 31, 2014 | Mar. 15, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | |
Debt Instrument [Line Items] | ||||
Long-term debt | $10,369,000 | $10,369,000 | $1,653,000 | |
Notes payable to banks | Trans Ova Genetics, LC | American State Bank | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | 5,952,000 | 5,952,000 | ||
Debt instrument, periodic payment | 39,000 | |||
Debt instrument, interest rate, stated percentage | 3.95% | 3.95% | ||
Notes payable | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | 7,653,000 | 7,653,000 | 0 | |
Notes payable | Trans Ova Genetics, LC | Iowa Economic Development Authority | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | 1,099,000 | 1,099,000 | ||
Debt instrument, periodic payment, principal | 183,000 | |||
Notes payable | Exemplar Genetics, LLC | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | 602,000 | 602,000 | ||
Notes payable | Exemplar Genetics, LLC | Minimum | ||||
Debt Instrument [Line Items] | ||||
Debt instrument, periodic payment | 1,000 | |||
Debt instrument, interest rate, stated percentage | 0.00% | 0.00% | ||
Notes payable | Exemplar Genetics, LLC | Maximum | ||||
Debt Instrument [Line Items] | ||||
Debt instrument, periodic payment | 4,000 | |||
Debt instrument, interest rate, stated percentage | 3.00% | 3.00% | ||
Royalty-based financing | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | 1,926,000 | 1,926,000 | 1,653,000 | |
Royalty-based financing | AquaBounty Technologies, Inc. | Atlantic Canada Opportunities Agency | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | 1,926,000 | 1,926,000 | ||
Amount available under the grant for research and development | 2,470,000 | |||
Claims period | 5 years | |||
Royalty on products | 10.00% | |||
Amount claimed | 1,952,000 | |||
Long-term debt | 1,107,000 | |||
Accreted difference between face value of amount drawn and acquisition date fair value | 845,000 | |||
Proceeds from issuance of debt | $767,000 |
Lines_of_Credit_and_Long_Term_5
Lines of Credit and Long Term Debt - Schedule of Future Maturities of Long Term Debt (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Debt Disclosure [Abstract] | |
2015 | $1,675 |
2016 | 894 |
2017 | 363 |
2018 | 360 |
2019 | 336 |
Thereafter | 4,815 |
Total | $8,443 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax [Line Items] | |||
Total domestic loss before income taxes | $83,256,000 | $39,250,000 | |
Total foreign loss before income taxes | 2,463,000 | 1,658,000 | |
Income tax benefit | 103,000 | 0 | 0 |
Deferred income tax benefit recognized | 0 | 0 | 0 |
Federal corporate income tax rate | 34.00% | 34.00% | 34.00% |
Operating losses subject to annual limits | 16,400,000 | ||
Annual usage limit of operating loss carryforwards | 1,500,000 | ||
Net operating losses inherited via acquisition | 19,100,000 | ||
Federal and state research and development tax credits | 9,661,000 | 10,062,000 | |
Undistributed earnings of foreign subsidiary | 196,000 | ||
Domestic | |||
Income Tax [Line Items] | |||
Operating loss carryforwards | 254,528,000 | ||
Federal and state research and development tax credits | 6,770,000 | ||
Expiration date of Federal income tax loss carryforwards | 2022 | ||
Foreign | |||
Income Tax [Line Items] | |||
Income tax benefit | 103,000 | ||
Operating loss carryforwards | 11,800,000 | ||
Share Based Compensation | Domestic | |||
Income Tax [Line Items] | |||
Operating loss carryforwards | 8,856,000 | ||
AquaBounty Technologies, Inc. | |||
Income Tax [Line Items] | |||
Annual usage limit of operating loss carryforwards | 900,000 | ||
Federal and state research and development tax credits | 2,600,000 | ||
Expiration date of Federal income tax loss carryforwards | 2018 | ||
AquaBounty Technologies, Inc. | Domestic | |||
Income Tax [Line Items] | |||
Operating loss carryforwards | 12,500,000 | ||
AquaBounty Technologies, Inc. | Foreign | |||
Income Tax [Line Items] | |||
Operating loss carryforwards | $4,600,000 |
Income_Taxes_Schedule_of_Effec
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | |||
Computed statutory income tax benefit | ($29,144) | ($13,909) | ($27,837) |
Increase in income tax benefit resulting from State income tax benefit, net of federal income taxes | -3,544 | -1,834 | -3,711 |
Nondeductible stock based compensation | 1,386 | 575 | 333 |
Contribution of services by shareholder | 677 | 527 | 527 |
Gain in previously held equity investment | 0 | -2,477 | 0 |
Research and development tax credits | 258 | -1,203 | 0 |
Other, net | 1,503 | 1,317 | -238 |
Income tax reconciliation income tax benefit before valuation allowance, total | -28,864 | -17,004 | -30,926 |
Change in valuation allowance for deferred tax assets | 28,761 | 17,004 | 30,926 |
Total income tax provision | ($103) | $0 | $0 |
Income_Taxes_Tax_Effects_of_Te
Income Taxes - Tax Effects of Temporary Differences That Comprise Deferred Tax Assets and Liabilities (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Deferred tax assets | ||||
Allowance for doubtful accounts | $783 | $0 | ||
Equity securities | 4,694 | 415 | ||
Property, plant and equipment | 79 | 0 | ||
Accrued liabilities and long-term debt | 2,703 | 1,445 | ||
Stock-based compensation | 8,283 | 1,677 | ||
Deferred revenue | 43,774 | 28,456 | ||
Research and development tax credits | 9,661 | 10,062 | ||
Net operating loss carryforwards | 103,114 | 97,395 | ||
Total deferred tax assets | 173,091 | 139,450 | ||
Less: Valuation allowance | 161,660 | 131,985 | 113,051 | 82,125 |
Net deferred tax assets | 11,431 | 7,465 | ||
Deferred tax liabilities | ||||
Property, plant and equipment | 0 | 140 | ||
Intangible assets | 11,431 | 7,325 | ||
Total deferred tax liabilities | 11,431 | 7,465 | ||
Net deferred tax assets (liabilities) | $0 | $0 |
Income_Taxes_Activity_of_Valua
Income Taxes - Activity of Valuation Allowance for Deferred Tax Assets (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Valuation Allowance | |||
Valuation allowance at beginning of year | $131,985 | $113,051 | $82,125 |
Increase in valuation allowance as a result of mergers and acquisitions, net | 914 | 1,930 | 0 |
Increase in valuation allowance as a result of current year operations | 28,761 | 17,004 | 30,926 |
Valuation allowance at end of year | $161,660 | $131,985 | $113,051 |
Redeemable_Convertible_Preferr2
Redeemable Convertible Preferred Stock and Shareholders' Equity - Summary of Redeemable Convertible Preferred Stock (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Increase (Decrease) in Temporary Equity | |||
Accretion of dividends | $0 | $18,391 | $21,994 |
Series A Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | 1,358 | 802 | |
Accretion of dividends | 52 | 556 | |
Conversion to common stock | -1,410 | ||
Ending balance | 0 | 1,358 | |
Beginning balance, shares | 705,400 | 705,400 | |
Conversion to common stock, shares | -705,400 | ||
Ending balance, shares | 0 | 705,400 | |
Series B Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | 669 | 639 | |
Accretion of dividends | 19 | 30 | |
Conversion to common stock | -688 | ||
Ending balance | 0 | 669 | |
Beginning balance, shares | 694,000 | 694,000 | |
Conversion to common stock, shares | -694,000 | ||
Ending balance, shares | 0 | 694,000 | |
Series B-1 Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | 1,360 | 1,300 | |
Accretion of dividends | 37 | 60 | |
Conversion to common stock | -1,397 | ||
Ending balance | 0 | 1,360 | |
Beginning balance, shares | 1,212,360 | 1,212,360 | |
Conversion to common stock, shares | -1,212,360 | ||
Ending balance, shares | 0 | 1,212,360 | |
Series C Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | 7,134 | 6,729 | |
Accretion of dividends | 266 | 405 | |
Conversion to common stock | -7,400 | ||
Ending balance | 0 | 7,134 | |
Beginning balance, shares | 4,546,360 | 4,546,360 | |
Conversion to common stock, shares | -4,546,360 | ||
Ending balance, shares | 0 | 4,546,360 | |
Series C-1 Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | 34,201 | 32,264 | |
Accretion of dividends | 1,272 | 1,937 | |
Conversion to common stock | -35,473 | ||
Ending balance | 0 | 34,201 | |
Beginning balance, shares | 15,934,528 | 15,934,528 | |
Conversion to common stock, shares | -15,934,528 | ||
Ending balance, shares | 0 | 15,934,528 | |
Series C-2 Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | 44,512 | 41,987 | |
Accretion of dividends | 1,660 | 2,525 | |
Conversion to common stock | -46,172 | ||
Ending balance | 0 | 44,512 | |
Beginning balance, shares | 18,617,020 | 18,617,020 | |
Conversion to common stock, shares | -18,617,020 | ||
Ending balance, shares | 0 | 18,617,020 | |
Series C-3 Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | 29,770 | 28,082 | |
Accretion of dividends | 1,103 | 1,688 | |
Conversion to common stock | -30,873 | ||
Ending balance | 0 | 29,770 | |
Beginning balance, shares | 13,297,872 | 13,297,872 | |
Conversion to common stock, shares | -13,297,872 | ||
Ending balance, shares | 0 | 13,297,872 | |
Series D Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | 76,252 | 71,924 | |
Accretion of dividends | 2,827 | 4,328 | |
Conversion to common stock | -79,078 | ||
Settlement of fractional shares upon conversion to common stock | -1 | ||
Ending balance | 0 | 76,252 | |
Beginning balance, shares | 19,803,685 | 19,803,685 | |
Conversion to common stock, shares | -19,803,685 | ||
Settlement of fractional shares upon conversion to common stock, shares | 0 | ||
Ending balance, shares | 0 | 19,803,685 | |
Series E Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | 211,403 | 117,954 | |
Issuance of shares | 83,000 | ||
Accretion of dividends | 7,931 | 10,465 | |
Stock issuance costs | -16 | ||
Conversion to common stock | -219,332 | ||
Settlement of fractional shares upon conversion to common stock | -2 | ||
Ending balance | 0 | 211,403 | |
Beginning balance, shares | 38,095,239 | 22,285,716 | |
Issuance of shares, shares | 15,809,523 | ||
Conversion to common stock, shares | -38,095,239 | ||
Settlement of fractional shares upon conversion to common stock, shares | 0 | ||
Ending balance, shares | 0 | 38,095,239 | |
Series F Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | 0 | ||
Issuance of shares | 150,000 | ||
Accretion of dividends | 3,224 | ||
Stock issuance costs | -3,148 | ||
Conversion to common stock | -150,075 | ||
Settlement of fractional shares upon conversion to common stock | -1 | ||
Ending balance | $0 | ||
Beginning balance, shares | 0 | ||
Issuance of shares, shares | 19,047,619 | ||
Conversion to common stock, shares | -19,047,619 | ||
Settlement of fractional shares upon conversion to common stock, shares | 0 | ||
Ending balance, shares | 0 |
Redeemable_Convertible_Preferr3
Redeemable Convertible Preferred Stock and Shareholders' Equity - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Mar. 26, 2014 | Aug. 13, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 26, 2014 |
Class of Stock [Line Items] | ||||||
Cumulative dividends accreted | $68,850 | $50,549 | ||||
Redeemable convertible preferred stock | 79,705,130 | |||||
Shares issued in IPO or private placement, shares | 972,004 | |||||
Price per share of common stock | $25.72 | $25.72 | ||||
Proceeds from issuance of shares in private placement | 25,000 | 25,000 | 0 | 0 | ||
Shares issued in IPO or private placement | 25,000 | 168,801 | ||||
Affiliates Of Third Security | ||||||
Class of Stock [Line Items] | ||||||
Shares issued in IPO or private placement, shares | 243,001 | |||||
Shares issued in IPO or private placement | $6,250 |
Stock_Option_Plans_Stock_Compe
Stock Option Plans - Stock Compensation Expense (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock based compensation cost | $21,849 | $2,921 | $1,458 |
Cost of products | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock based compensation cost | 14 | 0 | 0 |
Cost of services | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock based compensation cost | 142 | 0 | 0 |
Research and development | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock based compensation cost | 4,817 | 514 | 377 |
Selling, general and administrative | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock based compensation cost | $16,876 | $2,407 | $1,081 |
Stock_Option_Plans_Additional_
Stock Option Plans - Additional Information (Detail) (USD $) | 12 Months Ended | ||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Jun. 09, 2014 | Jul. 26, 2013 |
Intrexon Stock Option Plan - 2008 Plan | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of authorized awards (shares) | 5,714,285 | 2,857,142 | |||||
Options outstanding (shares) | 1,747,494 | ||||||
Intrexon Stock Option Plan - 2013 Plan | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of authorized awards (shares) | 10,000,000 | 7,000,000 | |||||
Options outstanding (shares) | 6,576,050 | ||||||
Remaining shares available to grant (shares) | 3,335,220 | ||||||
Intrexon Stock Option Plans | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Options outstanding (shares) | 8,323,544 | 2,840,648 | 2,313,526 | 3,614,530 | |||
Term of issuance of option | 10 years | ||||||
Option issued, vesting period (no more than) | 4 years | ||||||
Expected dividend yield | 0.00% | 0.00% | 0.00% | ||||
Unrecognized compensation costs related to nonvested awards | $62,281 | $9,639 | $4,910 | ||||
Recognized over weighted-average period | 3 years | 3 years | 3 years | ||||
Weighted average grant date fair value of options granted (usd per share) | $16.40 | $12.91 | $4.60 | ||||
Aggregate intrinsic value of options exercised | $6,350 | $1,136 | $913 | ||||
Options outstanding, weighted average exercise price (usd per share) | $22.59 | $8.27 | $5.90 | 5.22 | |||
Options exercisable (shares) | 1,448,434 | ||||||
Exemplar Membership Interest Unit Option Plan | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Options outstanding (shares) | 397,000 | ||||||
Options outstanding, weighted average exercise price (usd per share) | $2.10 | ||||||
Options exercisable (shares) | 275,667 | ||||||
Aqua Bounty Stock Option Plan | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Options outstanding (shares) | 7,347,000 | 6,624,000 | |||||
Options outstanding, weighted average exercise price (usd per share) | $0.31 | $0.25 | |||||
Options exercisable (shares) | 6,171,520 | 6,052,000 |
Stock_Option_Plans_Intrexon_St
Stock Option Plans - Intrexon Stock Option Plans - Assumptions Used in Black-Scholes Option Pricing Model (Detail) (Intrexon Stock Option Plans) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Intrexon Stock Option Plans | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Expected volatility, minimum | 62.00% | 73.00% | 71.00% |
Expected volatility, maximum | 64.00% | 75.00% | 76.00% |
Expected term (years) | 6 years 3 months | 6 years 3 months | 6 years |
Risk-free interest rate, minimum | 1.82% | 0.96% | 0.80% |
Risk-free interest rate, maximum | 2.14% | 1.86% | 1.10% |
Stock_Option_Plans_Intrexon_St1
Stock Option Plans - Intrexon Stock Option Plans - Schedule of Stock Option Activity (Detail) (Intrexon Stock Option Plans, USD $) | 12 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Intrexon Stock Option Plans | |||||
Number of Shares | |||||
Balances at beginning of period | 2,840,648 | 2,313,526 | 3,614,530 | ||
Granted | 7,655,050 | 989,709 | 548,571 | ||
Exercised | -315,964 | -88,764 | -194,570 | ||
Forfeited | -1,855,578 | -335,746 | -1,210,857 | ||
Expired | -612 | -38,077 | -444,148 | ||
Balances at period end | 8,323,544 | 2,840,648 | 2,313,526 | 3,614,530 | |
Weighted Average Exercise Price (usd per share) | |||||
Balances at beginning of period, weighted average exercise price | $8.27 | $5.90 | $5.22 | ||
Granted, weighted average exercise price | $27.51 | $13.06 | $7.12 | ||
Exercised, weighted average exercise price | ($4.80) | ($6.04) | ($2.43) | ||
Forfeited, weighted average exercise price | ($24) | ($6.94) | ($6.30) | ||
Expired, weighted average exercise price | ($7.12) | ($5.17) | ($2.29) | ||
Balances at period end, weighted average exercise price | $22.59 | $8.27 | $5.90 | $5.22 | |
Additional Disclosures | |||||
Exercisable at period end (shares) | 1,448,434 | ||||
Vested and expected to vest at period end (shares) | 6,742,605 | [1] | |||
Options exercisable, weighted average exercise price (usd per share) | $8.27 | $5.37 | |||
Vested and expected to vest, weighted average exercise price (usd per share) | $21.78 | [1] | |||
Balances at period end, weighted average remaining contractual period | 8 years 7 months 21 days | 7 years 9 months | 7 years 10 months 13 days | 6 years 8 months 1 day | |
Exercisable at period end, weighted average remaining contractual period | 6 years 3 months | ||||
Vested and expected to vest at period end, weighted average remaining contractual period | 8 years 6 months | [1] | |||
[1] | The number of stock options expected to vest takes into account an estimate of expected forfeitures. |
Stock_Option_Plans_Intrexon_St2
Stock Option Plans - Intrexon Stock Option Plans - Summary of Information About Stock Options Outstanding (Detail) (Intrexon Stock Option Plans, USD $) | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Options outstanding, weighted average exercise price (usd per share) | $22.59 | $8.27 | $5.90 | $5.22 |
Options outstanding, number of options | 8,323,544 | 2,840,648 | ||
Options outstanding, weighted average remaining life (years) | 8 years 7 months 21 days | 7 years 9 months | ||
Options outstanding, aggregate intrinsic value | $52,219 | $44,333 | ||
Options exercisable, number of options | 1,448,434 | 1,227,563 | ||
Options exercisable, weighted average exercise price (usd per share) | $8.27 | $5.37 | ||
Options exercisable, weighted average remaining life (years) | 6 years 3 months | 6 years 5 months 9 days | ||
Options exercisable, aggregate intrinsic value | 28,189 | 22,638 | ||
Price range 1 | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Stock options, exercise price range, lower limit (usd per share) | $0.39 | $0.39 | ||
Stock options, exercise price range, upper limit (usd per share) | $9.67 | $5.91 | ||
Options outstanding, weighted average exercise price (usd per share) | $6.49 | $3.15 | ||
Options outstanding, number of options | 1,747,494 | 658,051 | ||
Options outstanding, weighted average remaining life (years) | 6 years 3 months | 4 years 11 months 16 days | ||
Options outstanding, aggregate intrinsic value | 36,772 | 13,592 | ||
Options exercisable, number of options | 1,293,184 | 571,116 | ||
Options exercisable, weighted average exercise price (usd per share) | $6.07 | $2.78 | ||
Options exercisable, weighted average remaining life (years) | 5 years 10 months 24 days | 4 years 7 months 17 days | ||
Options exercisable, aggregate intrinsic value | 27,746 | 12,003 | ||
Price range 2 | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Stock options, exercise price range, lower limit (usd per share) | $15.39 | $7.12 | ||
Stock options, exercise price range, upper limit (usd per share) | $22.77 | $7.12 | ||
Options outstanding, weighted average exercise price (usd per share) | $21.74 | $7.12 | ||
Options outstanding, number of options | 2,603,300 | 1,194,887 | ||
Options outstanding, weighted average remaining life (years) | 9 years 3 months 26 days | 7 years 9 months 18 days | ||
Options outstanding, aggregate intrinsic value | 15,084 | 19,931 | ||
Options exercisable, number of options | 57,000 | 546,805 | ||
Options exercisable, weighted average exercise price (usd per share) | $19.77 | $7.12 | ||
Options exercisable, weighted average remaining life (years) | 9 years 18 days | 7 years 9 months 7 days | ||
Options exercisable, aggregate intrinsic value | 442 | 9,121 | ||
Price range 3 | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Stock options, exercise price range, lower limit (usd per share) | $24.73 | $9.67 | ||
Stock options, exercise price range, upper limit (usd per share) | $28.69 | $9.67 | ||
Options outstanding, weighted average exercise price (usd per share) | $26.21 | $9.67 | ||
Options outstanding, number of options | 260,750 | 701,710 | ||
Options outstanding, weighted average remaining life (years) | 9 years 8 months 27 days | 9 years 4 months 28 days | ||
Options outstanding, aggregate intrinsic value | 363 | 9,915 | ||
Options exercisable, number of options | 8,250 | 107,142 | ||
Options exercisable, weighted average exercise price (usd per share) | $28.25 | $9.67 | ||
Options exercisable, weighted average remaining life (years) | 8 years 7 months 17 days | 9 years 4 months 28 days | ||
Options exercisable, aggregate intrinsic value | 1 | 1,514 | ||
Price range 4 | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Stock options, exercise price range, lower limit (usd per share) | $29.95 | $19.83 | ||
Stock options, exercise price range, upper limit (usd per share) | $29.95 | $19.83 | ||
Options outstanding, weighted average exercise price (usd per share) | $29.95 | $19.83 | ||
Options outstanding, number of options | 1,000,000 | 225,500 | ||
Options outstanding, weighted average remaining life (years) | 9 years 2 months 16 days | 9 years 11 months 16 days | ||
Options outstanding, aggregate intrinsic value | 0 | 895 | ||
Options exercisable, number of options | 0 | 0 | ||
Options exercisable, weighted average exercise price (usd per share) | $0 | $0 | ||
Options exercisable, weighted average remaining life (years) | 0 days | 0 days | ||
Options exercisable, aggregate intrinsic value | 0 | 0 | ||
Price range 5 | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Stock options, exercise price range, lower limit (usd per share) | $30.72 | $26.76 | ||
Stock options, exercise price range, upper limit (usd per share) | $30.72 | $28.69 | ||
Options outstanding, weighted average exercise price (usd per share) | $30.72 | $27.33 | ||
Options outstanding, number of options | 2,712,000 | 60,500 | ||
Options outstanding, weighted average remaining life (years) | 9 years 2 months 19 days | 9 years 8 months 1 day | ||
Options outstanding, aggregate intrinsic value | 0 | 0 | ||
Options exercisable, number of options | 90,000 | 2,500 | ||
Options exercisable, weighted average exercise price (usd per share) | $30.72 | $28.69 | ||
Options exercisable, weighted average remaining life (years) | 9 years 2 months 19 days | 9 years 7 months 13 days | ||
Options exercisable, aggregate intrinsic value | $0 | $0 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Future Minimum Lease Payments Under Noncancelable Operating Leases (Detail) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | |
2015 | $4,177 |
2016 | 4,162 |
2017 | 2,695 |
2018 | 1,355 |
2019 | 1,275 |
Thereafter | 2,430 |
Future minimum lease payments under operating leases, total | $16,094 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Commitments and Contingencies Disclosure [Abstract] | |||
Rent expenses | $8,511 | $5,672 | $5,036 |
Rental income under sublease agreement | 908 | 365 | 151 |
Future rental income under sublease agreements, 2015 | 1,316 | ||
Future rental income under sublease agreements, 2016 | 993 | ||
Future rental income under sublease agreements, 2017 | $96 |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 12 Months Ended | 33 Months Ended | 0 Months Ended | |||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 31, 2013 | Dec. 17, 2013 | Sep. 30, 2013 | Nov. 20, 2013 | Oct. 01, 2013 | Dec. 07, 2014 | Sep. 30, 2014 |
Related Party Transaction [Line Items] | ||||||||||
Contribution of services by shareholder | $1,991 | $1,550 | $1,550 | |||||||
Collaboration revenue | 45,212 | 23,525 | 13,706 | |||||||
Upfront and milestone payments | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Collaboration revenue | 9,625 | 6,944 | 5,851 | |||||||
Third Security, LLC | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Total amount of expenses reimbursed | 291 | 455 | 49 | |||||||
Chief Executive Officer | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Contribution of services by shareholder | 1,991 | 1,550 | 1,550 | |||||||
ZIOPHARM Oncology, Inc. | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Purchase of additional common stock | 50,000 | |||||||||
Shares of common stock purchased from collaborative partners, value | 30,982 | |||||||||
Purchase commitment | 19,081 | |||||||||
Synthetic Biologics, Inc. | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Maximum percentage of shares of future securities offerings of collaborative partners to which the entity is entitled to purchase | 19.99% | |||||||||
Shares of common stock purchased from collaborative partners | 2,000,000 | |||||||||
Price per share of common shares | $1 | |||||||||
Additional shares of collaborative partner to which the entity is entitled to purchase on the open market | 10.00% | |||||||||
Oragenics, Inc. | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Maximum percentage of shares of future securities offerings of collaborative partners to which the entity is entitled to purchase | 30.00% | |||||||||
Shares of common stock purchased from collaborative partners | 1,300,000 | |||||||||
Price per share of common shares | $3 | |||||||||
Oragenics, Inc. | Share Purchase Rights Plan | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Shares of common stock purchased from collaborative partners | 1,100,000 | |||||||||
Price per share of common shares | $2.50 | |||||||||
Fibrocell Science, Inc. | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Shares of common stock purchased from collaborative partners | 2,439,024 | |||||||||
Price per share of common shares | $4.10 | |||||||||
Histogenics Corporation | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Shares of common stock purchased from collaborative partners | 1,772,364 | |||||||||
Price per share of common shares | $11 | |||||||||
Note receivable interest rate | 6.00% | |||||||||
Histogenics Corporation | Upfront and milestone payments | Upfront | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Collaborative arrangement consideration received, value of convertible promissory note | 10,000 | |||||||||
Related Parties, Aggregated | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Collaboration revenue | $41,030 | $22,783 | $13,076 |
Net_Loss_Per_Share_Historical_
Net Loss Per Share - Historical Computation of Basic and Diluted Net Income (Loss) Per Share (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Numerator: | |||||||||||
Net loss attributable to Intrexon | $18,831 | ($52,725) | ($52,043) | $4,115 | ($12,204) | $15,498 | ($5,963) | ($36,311) | ($81,822) | ($38,980) | ($81,874) |
Add: Accretion of dividends on redeemable convertible preferred stock | 0 | -18,391 | -21,994 | ||||||||
Net loss attributable to common shareholders | ($81,822) | ($57,371) | ($103,868) | ||||||||
Denominator: | |||||||||||
Weighted average shares outstanding, basic and diluted | 99,170,653 | 40,951,952 | 5,533,690 | ||||||||
Net loss attributable to common shareholders per share, basic and diluted | ($0.83) | ($1.40) | ($18.77) |
Net_Loss_Per_Share_Potentially
Net Loss Per Share - Potentially Dilutive Securities Excluded from Calculation of Net Income (Loss) per Share (Detail) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share, amount | 8,676,027 | 3,255,052 | 67,342,601 |
Common shares issuable upon conversion of all Series Preferred | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share, amount | 0 | 0 | 64,517,977 |
Options | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share, amount | 8,323,544 | 2,840,648 | 2,313,526 |
Warrants | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share, amount | 352,483 | 414,404 | 511,098 |
Quarterly_Financial_Informatio2
Quarterly Financial Information (Unaudited) - Selected Financial Information from Unaudited Consolidated Statements (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Total revenues | $31,092 | $21,197 | $11,787 | $7,854 | $7,143 | $6,042 | $6,690 | $3,885 | $71,930 | $23,760 | $13,774 |
Operating loss | -18,961 | -15,047 | -18,082 | -17,872 | -17,726 | -12,037 | -14,254 | -14,006 | -69,962 | -58,023 | -75,157 |
Net income (loss) | 17,932 | -53,862 | -52,935 | 3,249 | -13,018 | 14,991 | -6,519 | -36,362 | -85,616 | -40,908 | -81,874 |
Net income (loss) attributable to Intrexon | $18,831 | ($52,725) | ($52,043) | $4,115 | ($12,204) | $15,498 | ($5,963) | ($36,311) | ($81,822) | ($38,980) | ($81,874) |
Net income (loss) attributable to common shareholders per share, basic (usd per share) | $0.19 | ($0.53) | ($0.53) | $0.04 | ($0.13) | $0.15 | ($2.45) | ($7.54) | |||
Net income (loss) attributable to common shareholders per share, diluted (usd per share) | $0.18 | ($0.53) | ($0.53) | $0.04 | ($0.13) | $0.15 | ($2.45) | ($7.54) |
Defined_Contribution_Plans_Add
Defined Contribution Plans - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Compensation and Retirement Disclosure [Abstract] | |||
Defined contribution plans, cost recognized | $776 | $598 | $755 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 0 Months Ended | 33 Months Ended | 0 Months Ended | ||||
Mar. 26, 2014 | Jan. 27, 2015 | Feb. 23, 2015 | Feb. 27, 2015 | Aug. 13, 2013 | Jan. 13, 2015 | Oct. 31, 2013 | Feb. 09, 2015 | Dec. 31, 2014 | |
Subsequent Event [Line Items] | |||||||||
Securities purchase agreements, share | 972,004 | ||||||||
Securities purchase agreements, price per share | $25.72 | ||||||||
Subsequent Event | |||||||||
Subsequent Event [Line Items] | |||||||||
Securities purchase agreements, share | 4,312,500 | ||||||||
Securities purchase agreements, price per share | $27 | ||||||||
Proceeds from Issuance of Common Stock | $110,000,000 | ||||||||
Underwriting discounts and commissions | 6,100,000 | ||||||||
Offering expense paid | 300,000 | ||||||||
Subsequent Event | ActoGeniX NV | |||||||||
Subsequent Event [Line Items] | |||||||||
Percentage of outstanding common stock acquired | 100.00% | ||||||||
Consideration paid | 30,000,000 | ||||||||
Business acquisition, consideration paid, shares issued | 965,377 | ||||||||
Subsequent Event | Exemplar Genetics, LLC | |||||||||
Subsequent Event [Line Items] | |||||||||
Purchase of additional equity interest from noncontrolling interest of majority owned subsidiary | 1,600,000 | ||||||||
Shares issued by parent for purchase of additional equity interest from noncontrolling interest of majority owned subsidiary | 307,074 | ||||||||
Subsequent Event | Okanagan Specialty Fruits Inc | |||||||||
Subsequent Event [Line Items] | |||||||||
Business acquisition, pending close, percentage of voting interests to be acquired | 100.00% | ||||||||
Business acquisition, pending close, equity interests issuable | 31,000,000 | ||||||||
Business acquisition, pending close, cash portion of acquisition price | 10,000,000 | ||||||||
Exercise of Overallotment Option by Underwriters | |||||||||
Subsequent Event [Line Items] | |||||||||
Securities purchase agreements, share | 1,499,999 | ||||||||
Exercise of Overallotment Option by Underwriters | Subsequent Event | |||||||||
Subsequent Event [Line Items] | |||||||||
Securities purchase agreements, share | 562,500 | ||||||||
University of Texas M.D. Anderson Cancer Center | Subsequent Event | |||||||||
Subsequent Event [Line Items] | |||||||||
Stock to be issued, shares, new issues | 2,100,085 | ||||||||
Stock to be issued, value, new issues | 59,600,000 | ||||||||
ZIOPHARM Oncology, Inc. | |||||||||
Subsequent Event [Line Items] | |||||||||
Shares of common stock purchased from collaborative partners, value | 30,982,000 | ||||||||
Purchase commitment | 19,081,000 | ||||||||
ZIOPHARM Oncology, Inc. | Subsequent Event | |||||||||
Subsequent Event [Line Items] | |||||||||
Annual funding commitment term | 3 years | ||||||||
Shares of common stock purchased from collaborative partners, value | 12,600,000 | ||||||||
Purchase commitment | 6,481,000 | ||||||||
Affiliates Of Third Security | |||||||||
Subsequent Event [Line Items] | |||||||||
Securities purchase agreements, share | 243,001 | ||||||||
Affiliates Of Third Security | Subsequent Event | |||||||||
Subsequent Event [Line Items] | |||||||||
Securities purchase agreements, share | 555,556 | ||||||||
Minimum | ZIOPHARM Oncology, Inc. | Subsequent Event | |||||||||
Subsequent Event [Line Items] | |||||||||
Other Commitment | 15,000,000 | ||||||||
Maximum | ZIOPHARM Oncology, Inc. | Subsequent Event | |||||||||
Subsequent Event [Line Items] | |||||||||
Other Commitment | $20,000,000 |