Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2015 | Feb. 15, 2016 | Jun. 30, 2015 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | XON | ||
Entity Registrant Name | INTREXON CORP | ||
Entity Central Index Key | 1,356,090 | ||
Current Fiscal Year End Date | --12-31 | ||
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 | 116,779,394 | ||
Entity Public Float | $ 2.3 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Current assets | ||
Cash and cash equivalents | $ 135,782 | $ 27,466 |
Short-term investments | 102,528 | 88,495 |
Receivables | ||
Trade, net | 25,101 | 14,582 |
Related parties | 23,597 | 12,622 |
Note | 601 | 1,501 |
Other | 2,995 | 559 |
Inventory | 26,563 | 25,789 |
Prepaid expenses and other | 6,634 | 3,759 |
Total current assets | 323,801 | 174,773 |
Long-term investments | 105,447 | 27,113 |
Equity securities | 83,653 | 164,889 |
Property, plant and equipment, net | 42,739 | 38,000 |
Intangible assets, net | 247,535 | 65,947 |
Goodwill | 165,169 | 101,059 |
Investments in affiliates | 9,977 | 3,220 |
Other assets | 3,725 | 1,271 |
Total assets | 982,046 | 576,272 |
Current liabilities | ||
Accounts payable | 4,967 | 6,267 |
Accrued compensation and benefits | 19,050 | 7,736 |
Other accrued liabilities | 7,949 | 5,731 |
Deferred revenue | 35,366 | 16,522 |
Lines of credit | 561 | 2,273 |
Current portion of long term debt | 930 | 1,675 |
Current portion of deferred consideration | 6,931 | 7,064 |
Related party payables | 150 | 214 |
Total current liabilities | 75,904 | 47,482 |
Long term debt, net of current portion | 7,598 | 8,694 |
Deferred consideration, net of current portion | 8,698 | 13,421 |
Deferred revenue, net of current portion | 162,363 | 96,687 |
Deferred tax liabilities | 21,802 | 0 |
Other long term liabilities | 795 | 699 |
Total liabilities | $ 277,160 | $ 166,983 |
Commitments and contingencies (Note 16) | ||
Total equity | ||
Common stock, no par value, 200,000,000 shares authorized as of December 31, 2015 and 2014; and 116,658,886 shares and 100,557,932 shares issued and outstanding as of December 31, 2015 and 2014, respectively | $ 0 | $ 0 |
Additional paid-in capital | 1,249,559 | 843,001 |
Accumulated deficit | (542,729) | (458,236) |
Accumulated other comprehensive loss | (12,752) | (4) |
Total Intrexon shareholders' equity | 694,078 | 384,761 |
Noncontrolling interests | 10,808 | 24,528 |
Total equity | 704,886 | 409,289 |
Total liabilities and total equity | $ 982,046 | $ 576,272 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - shares | Dec. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 116,658,886 | 100,557,932 |
Common stock, shares outstanding | 116,658,886 | 100,557,932 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Revenues | |||
Collaboration and licensing revenues | $ 87,821 | $ 45,212 | $ 23,525 |
Product revenues | 41,879 | 11,481 | 164 |
Service revenues | 42,923 | 14,761 | 0 |
Other revenues | 982 | 476 | 71 |
Total revenues | 173,605 | 71,930 | 23,760 |
Operating Expenses | |||
Cost of products | 40,746 | 11,035 | 22 |
Cost of services | 23,183 | 8,225 | 0 |
Research and development | 147,483 | 58,983 | 48,143 |
Selling, general and administrative | 109,057 | 63,649 | 33,618 |
Total operating expenses | 320,469 | 141,892 | 81,783 |
Operating loss | (146,864) | (69,962) | (58,023) |
Other Income (Expense), Net | |||
Unrealized and realized appreciation (depreciation) in fair value of equity securities | 66,876 | (10,469) | 10,443 |
Gain on previously held equity investment | 0 | 0 | 7,415 |
Interest expense | (1,244) | (666) | (141) |
Interest income | 1,884 | 806 | 166 |
Other income (expense), net | 1,314 | (168) | (162) |
Total other income (expense), net | 68,830 | (10,497) | 17,721 |
Equity in net loss of affiliates | (8,944) | (5,260) | (606) |
Loss before income taxes | (86,978) | (85,719) | (40,908) |
Income tax benefit (expense) | (1,016) | 103 | 0 |
Net loss | (87,994) | (85,616) | (40,908) |
Net loss attributable to the noncontrolling interests | 3,501 | 3,794 | 1,928 |
Net loss attributable to Intrexon | (84,493) | (81,822) | (38,980) |
Accretion of dividends on redeemable convertible preferred stock | 0 | 0 | (18,391) |
Net loss attributable to common shareholders | $ (84,493) | $ (81,822) | $ (57,371) |
Net loss attributable to common shareholders per share, basic and diluted (in usd per share) | $ (0.76) | $ (0.83) | $ (1.40) |
Weighted average shares outstanding, basic and diluted | 111,066,352 | 99,170,653 | 40,951,952 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Statement of Comprehensive Income [Abstract] | |||
Net loss | $ (87,994) | $ (85,616) | $ (40,908) |
Other comprehensive income (loss): | |||
Unrealized gain (loss) on investments | (561) | 21 | 21 |
Foreign currency translation adjustments | (12,108) | (33) | 58 |
Comprehensive loss | (100,663) | (85,628) | (40,829) |
Comprehensive loss attributable to the noncontrolling interests | 3,422 | 3,750 | 1,901 |
Comprehensive loss attributable to Intrexon | $ (97,241) | $ (81,878) | $ (38,928) |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' and Total Equity (Deficit) - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Income (Loss) | Accumulated Deficit | Total Intrexon Shareholders' Equity (Deficit) | Noncontrolling Interests |
Beginning balance at Dec. 31, 2012 | $ (321,553) | $ 0 | $ 0 | $ (321,553) | $ (321,553) | $ 0 | |
Beginning balance, shares at Dec. 31, 2012 | 5,661,525 | ||||||
Changes in Stockholders' Equity | |||||||
Shares issued in public or private offerings | 168,801 | 168,801 | 168,801 | ||||
Shares issued in public or private offerings, 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 | ||||||
Shares issued as compensation for services | 124 | 124 | 124 | ||||
Shares issued as compensation for services, shares | 10,595 | ||||||
Contribution of services by shareholder | 1,550 | 1,550 | 1,550 | ||||
Accretion of dividends on redeemable convertible preferred stock | (18,391) | (2,510) | (15,881) | (18,391) | |||
Conversion of redeemable convertible preferred stock, including accrued dividends, to common stock | 571,898 | 571,898 | 571,898 | ||||
Conversion of redeemable convertible preferred stock, including accrued dividends, to common stock, shares | 79,705,130 | ||||||
Settlement of fractional shares from reverse stock split | (1) | (1) | (1) | ||||
Settlement of fractional shares from reverse stock split, shares | (67) | ||||||
Shares issued in acquisitions | 0 | ||||||
Adjustments for noncontrolling interests | 16,409 | 16,409 | |||||
Noncash dividend | 0 | ||||||
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 | ||||||
Changes in Stockholders' Equity | |||||||
Shares issued in public or private offerings | 25,000 | 25,000 | 25,000 | ||||
Shares issued in public or private offerings, 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 | ||||||
Shares issued as compensation for services | 486 | 486 | 486 | ||||
Shares issued as compensation for services, shares | 16,908 | ||||||
Contribution of services by shareholder | 1,991 | 1,991 | 1,991 | ||||
Accretion of dividends on redeemable convertible preferred stock | 0 | ||||||
Shares issued in acquisitions | 51,682 | 51,682 | 51,682 | ||||
Shares issued in acquisitions, shares | 2,140,837 | ||||||
Adjustments for noncontrolling interests | 11,077 | (2,411) | (2,411) | 13,488 | |||
Noncash dividend | 0 | ||||||
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 | |||||
Changes in Stockholders' Equity | |||||||
Shares issued in public or private offerings | $ 328,234 | 328,234 | 328,234 | ||||
Shares issued in public or private offerings, shares | 9,922,256 | ||||||
Stock-based compensation expense | 38,688 | 38,507 | 38,507 | 181 | |||
Exercises of stock options and warrants | 14,462 | 14,462 | 14,462 | ||||
Exercises of stock options and warrants, shares | 1,148,463 | ||||||
Shares issued as compensation for services | 2,169 | 2,169 | 2,169 | ||||
Shares issued as compensation for services, shares | 70,925 | ||||||
Shares issued as consideration for license agreement | 59,579 | 59,579 | 59,579 | ||||
Shares issued as consideration for licensing agreement, shares | 2,100,085 | ||||||
Accretion of dividends on redeemable convertible preferred stock | 0 | ||||||
Shares issued in acquisitions | 126,863 | 126,863 | 126,863 | ||||
Shares issued in acquisitions, shares | 2,552,151 | ||||||
Acquisition of noncontrolling interest | (1,566) | 9,412 | 9,412 | (10,978) | |||
Acquisition of noncontrolling interest, shares | 307,074 | ||||||
Adjustments for noncontrolling interests | 250 | (249) | (249) | 499 | |||
Noncash dividend | (172,419) | (172,419) | (172,419) | ||||
Net loss | (87,994) | (84,493) | (84,493) | (3,501) | |||
Other comprehensive income (loss) | (12,669) | (12,748) | (12,748) | 79 | |||
Ending balance at Dec. 31, 2015 | $ 704,886 | $ 1,249,559 | $ (12,752) | $ (542,729) | $ 694,078 | $ 10,808 | |
Ending balance, shares at Dec. 31, 2015 | 116,658,886 | 116,658,886 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Cash flows from operating activities | |||
Net loss | $ (87,994) | $ (85,616) | $ (40,908) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
Depreciation and amortization | 17,743 | 10,415 | 7,205 |
Loss on disposal of property, plant and equipment | 633 | 208 | 349 |
Unrealized and realized (appreciation) depreciation on equity securities | (66,876) | 10,469 | (10,443) |
Amortization of discount/premium on investments | 642 | 1,357 | 716 |
Equity in net loss of affiliates | 8,944 | 5,260 | 606 |
Gain on previously held equity investment | 0 | 0 | (7,415) |
Stock-based compensation expense | 38,667 | 21,849 | 2,921 |
Contribution of services by shareholder | 0 | 1,991 | 1,550 |
Shares issued as compensation for services | 2,169 | 486 | 124 |
Shares issued as consideration for license agreement | 59,579 | 0 | 0 |
Provision for bad debts | 1,757 | 565 | 0 |
Deferred income taxes | 1,117 | 0 | 0 |
Other noncash items | 460 | 723 | (75) |
Receivables: | |||
Trade | (12,138) | 4,332 | (644) |
Related parties | (11,042) | (6,117) | (4,967) |
Note | 0 | (1) | 0 |
Other | 5,286 | 15 | (542) |
Inventory | (774) | (7,313) | 0 |
Prepaid expenses and other | (2,729) | (465) | (347) |
Other assets | (2,119) | 80 | (18) |
Accounts payable | (3,263) | 1,266 | (43) |
Accrued compensation and benefits | 10,491 | 1,587 | 1,301 |
Other accrued liabilities | 1,593 | (586) | 1,558 |
Deferred revenue | 74,434 | 20,934 | (4,368) |
Deferred consideration | (943) | 0 | 0 |
Related party payables | (64) | (1,137) | 6 |
Other long term liabilities | 96 | (160) | (249) |
Net cash provided by (used in) operating activities | 35,669 | (19,858) | (53,683) |
Cash flows from investing activities | |||
Purchases of investments | (181,572) | (60,478) | (233,979) |
Sales of investments | 0 | 9,100 | 0 |
Maturities of investments | 88,000 | 122,992 | 44,996 |
Purchases of equity securities and warrants | (17,080) | (19,496) | (28,650) |
Acquisitions of businesses, net of cash received | (123,928) | (67,577) | 517 |
Acquisition of noncontrolling interest | (1,566) | 0 | 0 |
Investments in affiliates | (13,442) | (2,875) | (5,000) |
Purchases of property, plant and equipment | (12,749) | (6,371) | (1,527) |
Proceeds from sale of property, plant and equipment | 626 | 176 | 480 |
Issuance of notes receivable | (600) | (1,500) | (1,000) |
Proceeds from notes receivable | 1,500 | 0 | 500 |
Net cash used in investing activities | (260,811) | (26,029) | (223,663) |
Cash flows from financing activities | |||
Proceeds from issuance of Series F redeemable convertible preferred shares | 0 | 0 | 150,000 |
Proceeds from IPO, net of issuance costs | 0 | 0 | 168,801 |
Proceeds from issuance of shares in a private placement | 0 | 25,000 | 0 |
Proceeds from issuance of shares in public offerings, net of issuance costs | 328,234 | 0 | 0 |
Settlement of fractional shares | 0 | 0 | (5) |
Advances from lines of credit | 15,232 | 4,676 | 0 |
Repayments of advances from lines of credit | (16,944) | (6,494) | 0 |
Proceeds from long term debt | 81 | 268 | 493 |
Payments of long term debt | (1,564) | (679) | (104) |
Payments of deferred consideration | (6,252) | 0 | 0 |
Proceeds from stock option exercises | 14,462 | 1,489 | 414 |
Payment of stock issuance costs | 0 | (256) | (3,148) |
Net cash provided by financing activities | 333,249 | 24,004 | 316,451 |
Effect of exchange rate changes on cash and cash equivalents | 209 | (160) | 1 |
Net increase (decrease) in cash and cash equivalents | 108,316 | (22,043) | 39,106 |
Cash and cash equivalents | |||
Beginning of period | 27,466 | 49,509 | 10,403 |
End of period | 135,782 | 27,466 | 49,509 |
Supplemental disclosure of cash flow information | |||
Cash paid during the period for interest | 1,195 | 158 | 51 |
Cash paid during the period for income taxes | 1,165 | 0 | 0 |
Significant noncash financing and investing activities | |||
Accretion of dividends on redeemable convertible preferred shares | 0 | 0 | 18,391 |
Stock received as consideration for collaboration agreements | 9,149 | 14,246 | 19,303 |
Stock issued in acquisitions, net | 126,863 | 51,682 | 0 |
Stock issued to acquire noncontrolling interest | 9,412 | 0 | 0 |
Noncash dividend to shareholders | 172,419 | 0 | 0 |
Deferred consideration payable related to acquisition | 1,992 | 20,115 | 0 |
Accrued investment in affiliate | 0 | 0 | 1,500 |
Purchases of equipment included in accounts payable and other accrued liabilities | 782 | 790 | 361 |
Common Stock | Common shares issuable upon conversion of all Series Preferred | |||
Significant noncash financing and investing activities | |||
Conversion of redeemable convertible preferred shares, including accrued dividends, to common stock | $ 0 | $ 0 | $ 571,898 |
Organization and Basis of Prese
Organization and Basis of Presentation | 12 Months Ended |
Dec. 31, 2015 | |
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's primary domestic operations are in California, Florida, Maryland, and Virginia, and its primary international operations are in Belgium and 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. ViaGen, L.C. ("ViaGen"), a provider of genetic preservation and cloning technologies, 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 wholly owned subsidiary through the combined investments of Intrexon, Trans Ova, and ViaGen. Intrexon Produce Holdings, Inc. ("IPHI") is a wholly owned subsidiary of Intrexon. Okanagan Specialty Fruits, Inc. ("Okanagan"), a company which developed and received regulatory approval for the world's first non-browning apple without the use of any flavor-altering chemical or antioxidant additives, is a wholly owned subsidiary of IPHI with primary operations in Canada. Fruit Orchard Holdings, Inc. ("FOHI") is a wholly owned subsidiary of IPHI with primary operations in Washington. Oxitec Limited ("Oxitec"), a pioneering company in biological insect control solutions, is a wholly owned subsidiary of Intrexon with primary operations in England and Brazil. At December 31, 2015 , Intrexon owned approximately 63% of AquaBounty Technologies, Inc. ("AquaBounty"), a company focused on improving productivity in commercial aquaculture, and 51% of Biological & Popular Culture, Inc. ("BioPop"). Intrexon Corporation and its consolidated subsidiaries are herein after referred to as the "Company." On August 13, 2013, the Company completed its initial public offering ("IPO"), upon which 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. 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 Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
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") and licensing agreements whereby the collaborators or the licensee 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 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 applications 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 or licensing agreement. The Company's collaboration and licensing agreements typically contain multiple elements, or deliverables, including technology licenses, research and development services, and in certain cases manufacturing services. 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 or licensee 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 or licensees, 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 the Milestone Method for recognizing milestone payments. 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 and licensing 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. From time to time, the Company and certain collaborators may cancel their agreements, relieving the Company of any further performance obligations under the agreement. When no further performance obligations are required of the Company under an agreement, the Company recognizes any remaining deferred revenue. The Company also generates product and service revenues primarily 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, including stock-based compensation expense, and the costs of consultants, certain in-license technology rights, 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, 2015 and 2014 , the Company had research and development commitments with third parties that had not yet been incurred totaling $4,138 and $2,183 , respectively. 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, 2015 and 2014 , the Company had cash equivalent investments in highly liquid money market accounts at major financial institutions of $112,776 and $16,598 , respectively. Short-term and Long-term Investments At December 31, 2015 , 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 since the Company does not intend to sell these equity securities within one year. 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, 2015 , gross unrealized losses on the Company's short-term and long-term 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, or distribute its equity securities to shareholders as a stock dividend. 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 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. In March 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. 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 equity interest. The Company is party to four strategic joint ventures. The Company accounts for its investments in these joint ventures and for its investment in Thrive Agrobiotics, Inc. ("Thrive Agrobiotics") 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 one of its collaborators, Oragenics, Inc. ("Oragenics"), as of December 31, 2015 , and over two if its collaborators, Oragenics and ZIOPHARM Oncology, Inc. ("ZIOPHARM"), as of December 31, 2014 , based on its ownership interests, representation on the board of directors of the collaborators and other qualitative factors. The Company accounts for these investments using the fair value option. In 2014 and 2013, the Company determined that ZIOPHARM met the criteria of SEC Regulation S-X Article 3-09 for inclusion of separate financial statements of an equity method investment. The fair value of the Company's equity securities of Oragenics was $16,601 and $7,192 as of December 31, 2015 and 2014 , respectively, and is included as equity securities in the respective consolidated balance sheets. The Company's ownership percentage of Oragenics was 30.7% and 24.4% at December 31, 2015 and 2014 , respectively. Unrealized appreciation (depreciation) in the fair value of the Company's equity securities held in Oragenics was $4,863 , $(14,969) , and $(90) for the years ended December 31, 2015 , 2014 , and 2013 , respectively. In June 2015, the Company distributed all of its holdings in ZIOPHARM to the Company's shareholders in the form of a special stock dividend (Note 13 ). Upon disposition, the Company realized a gain of $81,401 during the year ended December 31, 2015. As of December 31, 2014, the Company's ownership percentage in ZIOPHARM was 15.7% and the fair value of the Company's equity securities of ZIOPHARM was $83,099 and is included as equity securities in the December 31, 2014 consolidated balance sheet. Unrealized appreciation in the fair value of the Company's equity securities held in ZIOPHARM was $11,965 and $4,836 for the years ended December 31, 2014 and 2013 , respectively. Summarized financial data as of December 31, 2015 and 2014 , and for the years ended December 31, 2015 , 2014 , and 2013 , for the Company's equity method investments are as follows: December 31, 2015 2014 Current assets $ 28,123 $ 63,627 Non-current assets 1,539 1,259 Total assets 29,662 64,886 Current liabilities 6,274 15,346 Non-current liabilities — 570 Total liabilities 6,274 15,916 Net assets $ 23,388 $ 48,970 Year Ended December 31, 2015 2014 2013 Revenues, net $ 1,720 $ 2,313 $ 1,832 Operating expenses 123,842 62,161 77,011 Operating loss (122,122 ) (59,848 ) (75,179 ) Other (54 ) 11,753 743 Net loss $ (122,176 ) $ (48,095 ) $ (74,436 ) 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, 2015 and 2014 , the Company determined that certain of its collaborators and joint ventures were VIEs. As of December 31, 2015 , the Company also determined that Harvest Enterprise Fund I, LP ("Harvest") was a VIE. 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. The Company's aggregate investment balances of these VIEs as of December 31, 2015 was $3,598 , which represents the Company's maximum risk of loss related to the identified VIEs. As of December 31, 2014 , the Company did not hold any investment balances in the identified VIEs and therefore had no risk of loss as of that date. 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 years ended December 31, 2015 and 2014 : 2015 2014 Beginning balance $ 565 $ — Charged to operating expenses 1,757 565 Write offs of accounts receivable (241 ) — Ending balance $ 2,081 $ 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 Land improvements 4–20 Buildings and building improvements 3–23 Furniture and fixtures 1–10 Equipment 1–10 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. 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, related technologies and know-how; customer relationships; trademarks; and a covenant not to compete acquired as a result of mergers and acquisitions. 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 and were recorded at fair value at the dates of the respective acquisitions. The Company amortizes 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 two to eighteen years for the patents, related technologies and know-how; customer relationships; trademarks; and the covenant not to compete. 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. Share-Based Payments 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 its common stock price, expected volatility is based on a blended approach which utilizes the volatility of Intrexon's common stock and the 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 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 New York Stock Exchange. Intrexon estimates forfeitures based on its historical analysis of actual stock option forfeitures. 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, 2015 , 2014 and 2013 are set forth in the table below: 2015 2014 2013 Valuation assumptions Expected dividend yield 0% 0% 0% Expected volatility 59%—62% 62%—64% 73%—75% Expected term (years) 6.25 6.25 6.25 Risk-free interest rate 1.56%—1.95% 1.82%—2.14% 0.96%—1.86% 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. As of December 31, 2015 and 2014 , the Company had $3,877 and $2,200 , respectively, of long-lived assets in foreign countries. The Company recognized revenues derived in foreign countries totaling $5,918 and $2,166 for the years ended December 31, 2015 and 2014 , respectively. Recently Issued Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, Leases (Topic 842) ("ASU 2016-02"). The provisions of ASU 2016-02 set out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 month or less will be accounted for similar to existing guidance for operating leases today. Topic 842 supersedes the previous leave standard, Topic 840 Leases . The guidance is effective for annual periods and interim periods within those annual periods beginning after December 15, 2018, and is effective for the Company for the year ending December 31, 2019. The Company is currently evaluating the impact that the implementation of this standard will have on the Company's consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities ("ASU 2016-01"). The provisions of ASU 2016-01 make targeted improvements to enhance the reporting model for financial instruments to provide users of financial statements with more decision-useful information, including certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The guidance is effective for annual periods and interim periods within those annual periods beginning after December 15, 2017, and is effective for the Company for the year ending December 31, 2018. The Company is currently evaluating the impact that the implementation of this standard will have on the Company's consolidated financial statements. In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740) - Balance Sheet Classification of Deferred Taxes ("ASU 2015-17"). The provisions of ASU 2015-17 simplify the presentation of deferred income taxes by requiring an entity to classify deferred tax liabilities and assets as noncurrent on a classified balance sheet. The guidance is effective for annual periods and in |
Mergers and Acquisitions
Mergers and Acquisitions | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Mergers and Acquisitions | Mergers and Acquisitions Oxitec Acquisition In September 2015, pursuant to a Stock Purchase Agreement (the "Oxitec Purchase Agreement"), the Company acquired 100% of the issued outstanding share capital of Oxitec, a pioneering company in biological insect control solutions, thereby expanding the Company's capabilities to address a broad range of global environment, health and agricultural challenges. The aggregated consideration paid consisted of (i) 1,359,343 shares of the Company's common stock (the "Stock Consideration") and (ii) $ 90,199 in cash (the "Cash Consideration"), inclusive of net cash and working capital adjustments as defined in the Oxitec Purchase Agreement totaling $9,449 . Stock Consideration totaling 480,422 shares and Cash Consideration totaling $1,991 were withheld as escrow at closing and are issuable and payable eighteen months after closing subject to reduction for satisfaction of any claims for indemnification made by the Company under the Oxitec Purchase Agreement. Cash Consideration withheld is included in deferred consideration as of December 31, 2015 . The results of Oxitec's operations subsequent to the acquisition date have been included in the consolidated financial statements. The fair value of the total consideration transferred was $ 146,394 . The acquisition date fair value of the Stock Consideration and Cash Consideration is presented below: Cash $ 90,199 Common shares 56,195 $ 146,394 The fair value of the shares of the Company common stock issued was based on the quoted closing price of the Company's common stock as of the closing date of the acquisition. The estimated fair value of assets acquired and liabilities assumed at the acquisition date is shown below: Cash $ 3,780 Trade receivables 125 Other receivables 7,395 Prepaid expenses and other 121 Property, plant, and equipment 1,198 Intangible assets 96,854 Total assets acquired 109,473 Accounts payable 1,187 Accrued compensation and benefits 246 Other accrued liabilities 210 Deferred revenue 120 Deferred tax liabilities 12,584 Total liabilities assumed 14,347 Net assets acquired 95,126 Goodwill 51,268 Total consideration $ 146,394 The acquired intangible assets primarily include in-process research and development, the fair value of which was determined using the multi-period excess earning method, which is a variation of the income approach that converts future cash flows to single discounted present value amounts. The in-process research and development are currently indefinite-lived intangible assets and, accordingly, are not being amortized. Goodwill, which is not expected to be deductible for tax purposes, represents the assembled workforce and the potential for future Oxitec products and technologies. The Company incurred $ 1,675 of acquisition related costs, all of which is included in selling, general and administrative expenses in the accompanying consolidated statement of operations for the year ended December 31, 2015 . Okanagan Acquisition In April 2015, pursuant to a Stock Purchase Agreement (the "Okanagan Purchase Agreement"), the Company acquired 100% of the outstanding shares of Okanagan, the pioneering agricultural company behind the world's first non-browning apple. In addition to supporting Okanagan's further development and commercialization of its apple products, the Company expects to utilize its proprietary technologies to assist Okanagan in the development of further novel beneficial plant traits. Pursuant to the Okanagan Purchase Agreement, the former shareholders of Okanagan received an aggregate of 707,853 shares of the Company's common stock, and $10,000 cash in exchange for all of the shares in Okanagan. The results of Okanagan's operations subsequent to the acquisition date have been included in the consolidated financial statements. The fair value of the total consideration transferred was $40,933 . The acquisition date fair value of each class of consideration transferred is presented below: Cash $ 10,000 Common shares 30,933 $ 40,933 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 as of the closing date of the acquisition. The estimated fair value of assets acquired and liabilities assumed at the acquisition date is shown below along with subsequent adjustments during the measurement period to the fair value of assets acquired and liabilities assumed. The adjustments resulted from revisions to the valuation of intangible assets. Initial Estimated Fair Value Adjustments Adjusted Fair Value Cash $ 58 $ — $ 58 Trade receivables 16 — 16 Other receivables 49 — 49 Property, plant, and equipment 32 — 32 Intangible assets 33,800 2,700 36,500 Total assets acquired 33,955 2,700 36,655 Accounts payable 181 — 181 Deferred revenue 181 — 181 Deferred tax liabilities 8,145 702 8,847 Total liabilities assumed 8,507 702 9,209 Net assets acquired 25,448 1,998 27,446 Goodwill 15,485 (1,998 ) 13,487 Total consideration $ 40,933 $ — $ 40,933 The acquired intangible assets primarily include developed technology, patents and know-how and the fair values of the acquired assets were determined using the with and without method, which is a variation of the income approach that utilizes estimated cash flows with all assets in place at the valuation date and estimated cash flows with all assets in place except the intangible assets at the valuation date. The intangible assets are being amortized over a useful life of fourteen years . Goodwill, which is not expected to be deductible for tax purposes, represents potential future applications of Okanagan's technology to other fruits, including additional apple varietals, and anticipated buyer-specific synergies arising from the combination of the Company's and Okanagan's technologies. The Company incurred $ 341 of acquisition-related costs, of which $ 267 and $74 is included in selling, general and administrative expenses in the accompanying consolidated statements of operations for the years ended December 31, 2015 and 2014 , respectively. ActoGeniX Acquisition In February 2015, the Company acquired 100% of the membership interests of ActoGeniX NV ("ActoGeniX"), a European biopharmaceutical company, pursuant to a Stock Purchase Agreement (the "ActoGeniX Purchase Agreement"). ActoGeniX's platform technology complements our suite of proprietary technologies available for current and future collaborators. Pursuant to the ActoGeniX Purchase Agreement, the former members of ActoGeniX received an aggregate of 965,377 shares of the Company's common stock and $ 32,739 in cash in exchange for all membership interests of ActoGeniX. The results of ActoGeniX's operations subsequent to the acquisition date have been included in the consolidated financial statements. The fair value of the total consideration transferred was $ 72,474 . The acquisition date fair value of each class of consideration transferred is presented below: Cash $ 32,739 Common shares 39,735 $ 72,474 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 as of the closing date of the acquisition. The estimated fair value of assets acquired and liabilities assumed at the acquisition date is shown below along with subsequent adjustments during the measurement period to the fair value of assets acquired and liabilities assumed. The adjustments resulted from the difference between estimated and actual accrued expenses. Initial Estimated Fair Value Adjustments Adjusted Fair Value Cash $ 3,180 $ — $ 3,180 Other receivables 305 — 305 Prepaid expenses and other 31 — 31 Property, plant and equipment 209 — 209 Intangible assets 68,100 — 68,100 Other non-current assets 23 — 23 Total assets acquired 71,848 — 71,848 Accounts payable 230 — 230 Accrued compensation and benefits 624 (428 ) 196 Other accrued liabilities 307 (54 ) 253 Deferred revenue 732 — 732 Deferred tax liabilities 612 — 612 Total liabilities assumed 2,505 (482 ) 2,023 Net assets acquired 69,343 482 69,825 Goodwill 3,131 (482 ) 2,649 Total consideration $ 72,474 $ — $ 72,474 The acquired intangible assets primarily include in-process research and development, the fair value of which was determined using the multi-period excess earnings and with-and-without methods, which are both variations of the income approach that convert future cash flows to single discounted present value amounts. In August 2015, the Company re-evaluated the acquired in-process research and development and determined that it was placed in service as developed technology and began amortizing the original amount capitalized using a useful life of eighteen years . Goodwill, which is not expected to be deductible for tax purposes, represents the assembled workforce and anticipated buyer-specific synergies arising from the combination of the Company's and ActoGeniX's technologies. The Company incurred $ 418 of acquisition-related costs, of which $ 381 and $37 is included in selling, general and administrative expenses in the accompanying consolidated statements of operations for the years ended December 31, 2015 and 2014 , respectively. Trans Ova Acquisition In August 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 are entitled to receive deferred cash consideration valued at $20,115 in exchange for all membership interests of Trans Ova. The first installment of the deferred cash consideration was paid in August 2015 and the remaining payments are due in August 2016 and August 2017. 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 the acquisition date have been included in the consolidated financial statements, including revenues of $26,352 and net income of $2 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 as of the closing date of the acquisition. The estimated fair value of assets acquired and liabilities assumed at the acquisition date is shown in the table below: 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 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. As a result of a 2012 transaction between Trans Ova and its wholly owned subsidiary, ViaGen, the Company may be obligated to make certain future contingent payments to the former equity holders of ViaGen, up to a total of $5,000 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. The Company incurred $713 of costs primarily for legal and due diligence services related to this acquisition, all of which is included in selling, general, and administrative expenses in the accompanying consolidated statement of operations for the year ended December 31, 2014 . In February 2015, the Company acquired, through an exchange offer, the remaining outstanding membership interests of Trans Ova's majority-owned subsidiary, Exemplar, for $1,566 in cash and 307,074 shares of Company common stock. Medistem Acquisition In March 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 the acquisition date 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 as of the closing date of acquisition. The estimated fair value of assets acquired and liabilities assumed at the acquisition date is shown in the table below. Cash $ 8 Intangible assets 4,824 Total assets acquired 4,832 Accounts payable 644 Accrued compensation and benefits 67 Other accrued liabilities 50 Total liabilities assumed 761 Net assets acquired 4,071 Goodwill 20,924 Total consideration $ 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. The Company 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 years ended December 31, 2014 and 2013 , respectively. Unaudited Condensed Pro Forma Financial Information The results of operations of the 2015 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, 2015 and 2014 , is presented as if the acquisitions had been consummated on January 1, 2014 : Year Ended December 31, 2015 2014 Pro Forma Revenues $ 174,558 $ 73,240 Loss before income taxes (99,751 ) (105,085 ) Net loss (99,594 ) (104,577 ) Net loss attributable to the noncontrolling interests 3,501 3,794 Net loss attributable to Intrexon (96,093 ) (100,783 ) The results of operations of the 2014 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 ) |
Investments in Joint Ventures
Investments in Joint Ventures | 12 Months Ended |
Dec. 31, 2015 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investments in Joint Ventures | Investments in Joint Ventures Intrexon Energy Partners II In December 2015, the Company and certain investors (the "IEPII Investors"), including Harvest, entered into a Limited Liability Company Agreement which governs the affairs and conduct of business of Intrexon Energy Partners II, LLC ("Intrexon Energy Partners II"), a joint venture formed to utilize the Company's natural gas bioconversion platform for the production of 1,4-butanediol, an industrial chemical used to manufacture spandex, polyurethane, plastics, and polyester. The Company also entered into an ECC with Intrexon Energy Partners II which provides exclusive rights to the Company's technology for use in the field, as a result of which the Company received a technology access fee of $18,000 while retaining a 50% membership interest in Intrexon Energy Partners II. The IEPII Investors made initial capital contributions of $18,000 , in exchange for pro rata membership interests in Intrexon Energy Partners II totaling 50% . In December 2015, the owners of Intrexon Energy Partners II made a capital contribution of $4,000 , half of which was paid by the Company. Intrexon has committed to make additional capital contributions of up to $10,000 , and the IEPII Investors, as a group and pro rata in accordance with their respective membership interests in Intrexon Energy Partners II, have committed to make additional capital contributions of up to $10,000 , at the request of Intrexon Energy Partners II's board of managers (the "Intrexon Energy Partners II Board") and subject to certain limitations. Intrexon Energy Partners II is governed by the Intrexon Energy Partners II Board which has five members. One member of the Intrexon Energy Partners II Board is designated by the Company and four members are designated by a majority of the IEPII Investors. The Company and the IEPII Investors have the right, but not the obligation, to make additional capital contributions above the initial limits when and if solicited by the Intrexon Energy Partners II Board. The Company's investment in Intrexon Energy Partners II was $2,000 as of December 31, 2015 and is included in investments in affiliates in the accompanying consolidated balance sheet. Intrexon Energy Partners In March 2014, the Company and certain investors (the "IEP 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, LLC ("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 the Company's 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 IEP 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, Intrexon has committed to make capital contributions of up to $25,000 , and the IEP 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, 2015 , the Company's remaining commitment was $18,682 . Intrexon Energy Partners is governed by the Intrexon Energy Partners Board which has five members. Two members of the Intrexon Energy Partners Board are designated by the Company and three members are designated by a majority of the IEP Investors. The Company and the IEP Investors have the right, but not the obligation, to make additional capital contributions above the initial limits when and if solicited by the Intrexon Energy Partners Board. The Company's investment in Intrexon Energy Partners was $(1,270) and $(740) as of December 31, 2015 and 2014 , respectively, and is included in other accrued liabilities in the accompanying consolidated balance sheets. 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. The Company's investment in OvaXon was $(144) and $(83) as of December 31, 2015 and 2014 , respectively, and is included in other accrued liabilities 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. As of December 31, 2015 , both the Company and Sun Pharmaceutical Subsidiary have made subsequent capital contributions of $5,000 . 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. The Company's investment in S & I Ophthalmic was $6,379 and $3,220 as of December 31, 2015 and 2014 , respectively, and is included in investments in affiliates in the accompanying consolidated balance sheets. |
Collaboration and Licensing Rev
Collaboration and Licensing Revenue | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Collaboration and Licensing Revenue | Collaboration and Licensing Revenue The Company's collaborations and licensing agreements 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, performance of certain research and development services and may include obligations for certain manufacturing services. The Company typically 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. If applicable, 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. 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. 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 and licensing agreements are individually significant for disclosure based on a number of factors, including total revenue recorded by the Company pursuant to collaboration and licensing agreements, collaborators or licensees either consolidated or accounted for using the equity method, or other qualitative factors. Collaboration and licensing revenues generated from consolidated subsidiaries are eliminated in consolidation. The following tables summarize the amounts recorded as revenue in the consolidated statements of operations for each significant collaboration and licensing agreement for the years ended December 31, 2015 , 2014 and 2013 : Year Ended December 31, 2015 Revenue Recognized From Total Upfront and Milestone Payments Research and Development Services Ares Trading S.A. $ 3,933 $ 795 $ 4,728 ZIOPHARM Oncology, Inc. 2,855 16,451 19,306 Oragenics, Inc. 5,679 856 6,535 Fibrocell Science, Inc. 6,046 6,133 12,179 Genopaver, LLC 273 3,556 3,829 S & I Ophthalmic, LLC — 4,115 4,115 OvaXon, LLC — 2,540 2,540 Intrexon Energy Partners, LLC 2,500 10,947 13,447 Persea Bio, LLC 500 741 1,241 Thrive Agrobiotics, Inc. 46 220 266 Intrexon Energy Partners II, LLC 167 — 167 Other 10,514 8,954 19,468 Total $ 32,513 $ 55,308 $ 87,821 Year Ended December 31, 2014 Revenue Recognized From Total Upfront and Milestone Payments Research and Development Services ZIOPHARM Oncology, Inc. $ 2,577 $ 12,044 $ 14,621 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 2,061 7,179 9,240 Total $ 9,625 $ 35,587 $ 45,212 Year Ended December 31, 2013 Revenue Recognized From Total Upfront and Milestone Payments Research and Development Services ZIOPHARM Oncology, Inc. $ 2,577 $ 7,818 $ 10,395 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 2,520 2,158 4,678 Total $ 6,944 $ 16,581 $ 23,525 The following is a summary of the terms of the Company's significant collaborations and licensing agreements. Merck Licensing Agreement In March 2015, the Company signed a worldwide License and Collaboration Agreement ("Merck Agreement") with Ares Trading S.A. ("Ares Trading"), a subsidiary of the biopharmaceutical business of Merck KGaA, and ZIOPHARM through which the parties established a collaboration for the research and development and commercialization of certain products for the prophylactic, therapeutic, palliative or diagnostic use for cancer in humans. Pursuant to the Merck Agreement, the Company received a technology access fee of $115,000 as upfront consideration, of which $57,500 was paid to ZIOPHARM in accordance with the terms of the agreement. Upon the selection of the first two targets by Ares Trading, the Company is entitled to receive $10,000 payable in equal quarterly installments over two years, of which $6,250 is included in trade receivables and $2,500 in other long term assets on the consolidated balance sheet as of December 31, 2015 . The Company is entitled to receive a further $5,000 for each additional target selected by Ares Trading. The Company is also entitled to up to $413,000 of potential payments for substantive and non-substantive development and commercial milestones for each product, and royalties ranging from the lower-single digits to the low-teens of the net sales derived from the sale of products developed under the Merck Agreement. The Company may also receive up to $50,000 of further cash fees upon certain technical milestones as provided for in the agreement. The term of the Merck Agreement commenced in May 2015 and may be terminated by either party in the event of a material breach as defined in the agreement and may be terminated voluntarily by Ares Trading upon 90 days written notice to the Company. The Company will pay to ZIOPHARM 50% of all payments received for upfront fees, milestones, and royalties under the Merck Agreement. ZIOPHARM Collaborations 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 was 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 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. In March 2015, in conjunction with the Merck Agreement, the Company and ZIOPHARM amended their existing ECC. The amendment modifies the scope of the ECC in connection with the Merck Agreement and provides that the Company will pay to ZIOPHARM 50% of all payments received for upfront fees, milestones and royalties under the Merck Agreement. In September 2015, the Company entered into its second ECC with ZIOPHARM ("ZIOPHARM ECC 2"). Pursuant to the ECC, ZIOPHARM received a license to the Company's technology platform to develop and commercialize novel biotherapeutics for the treatment of patients with graft-versus-host disease, or GvHD. Upon execution of ZIOPHARM ECC 2, the Company received a technology access fee of $10,000 . 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 ZIOPHARM during the ECC. ZIOPHARM will pay the Company 50% of quarterly net profits derived from the sale of products developed from ZIOPHARM ECC 2, as defined in the agreement. ZIOPHARM is responsible for funding the further development of ZIOPHARM ECC 2 products towards 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 ZIOPHARM ECC 2 commenced in September 2015 and 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. 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. Food and Drug Administration ("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 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 ("Oragenics ECC 2"). Pursuant to Oragenics 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 Oragenics 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 was equal to the closing price of Oragenics' common stock on the last trading day immediately prior to the date of conversion. In December 2013, Oragenics converted the promissory note into 698,241 shares of Oragenics' common stock. In September 2015, Oragenics and the Company mutually agreed to terminate Oragenics ECC 2 and accordingly, the Company recognized the remaining balance of the deferred revenue associated with the upfront payment. In June 2015, the Company entered into its third ECC with Oragenics ("Oragenics ECC 3"). Pursuant to Oragenics ECC 3, at the transaction effective date, Oragenics received a license to the Company's technology platform within the field of biotherapeutics for use in certain treatments of oral mucositis and other diseases and conditions of the oral cavity, throat, and esophagus. Upon execution of Oragenics ECC 3, the Company received a technology access fee of a $5,000 convertible promissory note maturing on or before December 31, 2015 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. In December 2015, Oragenics converted the promissory note into 3,381,004 shares of Oragenics' common stock. The Company is also entitled to up to $22,000 of potential payments for development and commercial milestones for each Oragenics product developed from Oragenics ECC 3 and up to $10,000 of potential one-time payments for certain regulatory milestones under Oragenics ECC 3. 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 Oragenics ECC 3. Oragenics will pay the Company royalties as a percentage in the low-teens of net sales derived from the sale of products developed from Oragenics ECC 3, as defined in the agreement. Oragenics is responsible for funding the further development of Oragenics ECC 3 products towards 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 Oragenics ECC 3 commenced in June 2015 and 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. Fibrocell Science Collaborations In October 2012, the Company entered into an ECC ("Fibrocell ECC 1") 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 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 quarterly royalties 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 associated with Fibrocell ECC 1, 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 and Fibrocell entered into an amendment to the Fibrocell ECC 1. The amendment expanded the field of use defined in the ECC agreement. Under the terms of the amendment to the Fibrocell ECC 1, 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 and Fibrocell entered into a second amendment to the Fibrocell ECC 1. The second amendment further expanded the field of use defined in the ECC agreement. Under the terms of the second amendment to the Fibrocell ECC 1, the Company received 1,024,590 shares of Fibrocell's common stock valued at $5,225 as a supplemental technology access fee. The Company allocated this additional consideration to the appropriate unit of accounting. In September 2015, Fibrocell and the Company mutually agreed to terminate the second amendment to the ECC and accordingly, the Company recognized the remaining balance of deferred revenue associated with the related upfront payment. In December 2015, the Company entered into a second ECC with Fibrocell ("Fibrocell ECC 2"). 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 fibroblasts to treat chronic inflammatory and degenerative diseases of the joint, including arthritis and related conditions. Upon execution of the ECC, the Company received a technology access fee of $10,000 . The Company is also entitled to (i) up to $30,000 of potential one-time payments for certain development and regulatory milestones for the first product developed under Fibrocell ECC 2, (ii) up to $30,000 of potential payments for certain regulatory milestones for each additional product developed under Fibrocell ECC 2, and (iii) up to $22,500 of potential payments for certain sales milestones for each product developed under Fibrocell ECC 2. 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. Fibrocell will pay the Company royalties as a percentage in the low double-digits of net sales derived from the sale of products developed from Fibrocell ECC 2, as defined in the agreement. Fibrocell is responsible for conducting preclinical and clinical development of product candidates associated with Fibrocell ECC 2, as well as for other aspects of commercialization and manufacturing of the product candidates. The term of the ECC commenced in December 2015 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. Genopaver Collaboration In March 2013, the Company entered into an ECC with Genopaver, LLC ("Genopaver"), an affiliate of Third Security 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 Company receives reimbursement payments for research and development services provided pursuant to the agreement during the ECC. Genopaver will pay the Company royalties 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. 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, 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. OvaXon Collaboration In December 2013, the Company entered into an ECC with OvaXon, a joint venture between the Company and OvaScience, a life sciences company focused on infertility treatments, 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, 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 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, LLC ("Persea Bio"), an affiliate of Third Security 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 received a technology access fee of $5,000 as upfront consideration. The Company receives reimbursement payments for research and development services provided pursuant to the agreement during the ECC. Persea Bio will pay the Company royalties 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. Thrive Agrobiotics Collaboration In September 2015, the Company entered into an ECC with Thrive Agrobiotics, an affiliate of Harvest and a related party. Thrive Agrobiotics was formed for the purpose of entering into the ECC and developing and commercializing products to improve the overall growth and feed efficiency in piglets. Upon execution of the ECC, the Company received a technology access fee in the form of equity in Thrive Agrobiotics valued at $1,667 as upfront consideration. The Company is also entitled to up to $5,500 of potential payments for development and commercial milestones for each product developed under the ECC. The Company receives reimbursement payments for research and development services provided pursuant to the agreement during the ECC. Thrive Agrobiotics will pay the Company royalties 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. Thrive Agrobiotics is responsible for the development and commercialization of the product candidates. The term of the ECC commenced in September 2015 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 Thrive Agrobiotics upon 90 days written notice to the Company. Intrexon Energy Partners II Collaboration In December 2015, the Company entered into an ECC with Intrexon Energy Partners II, a joint venture between the Company and certain investors, including Harvest, and a related party. Pursuant to the ECC, Intrexon Energy Partners II received 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 1,4-butanediol (BDO), a key chemical intermediate that is used to manufacture spandex, polyurethane, plastics, and polyester. Upon execution of the ECC, the Company received a technology access fee of $18,000 and is entitled to reimbursement of research and development services as provided for in the ECC agreement. The term of the ECC commenced in December 2015 and continues until December 2035; termination prior to that date may be initiated (i) by either party in the event of certain material breaches defined in the agreement or (ii) may be terminated voluntarily by Intrexon Energy Partners II 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 and licensing agreements, prepayments for research and development services performed for collaborators and licensees and prepayments for product and service revenues. Deferred revenue consists of the following: December 31, 2015 2014 Upfront and milestone payments $ 181,331 $ 107,228 Prepaid research and development services 10,938 1,045 Prepaid product and service revenues 4,759 4,365 Other 701 571 Total $ 197,729 $ 113,209 Current portion of deferred revenue 35,366 16,522 Long-term portion of deferred revenue 162,363 96,687 Total $ 197,729 $ 113,209 The following table summarizes the remaining balance of deferred revenue associated with upfront and milestone payments for each significant collaboration and licensing agreement: December 31, 2015 2014 Ares Trading S.A. $ 53,567 $ — ZIOPHARM Oncology, Inc. 30,338 23,193 Oragenics, Inc. 8,813 10,010 Fibrocell Science, Inc. 21,445 17,491 Genopaver, LLC 2,250 2,523 Intrexon Energy Partners, LLC 20,625 23,125 Persea Bio, LLC 4,500 5,000 Thrive Agrobiotics, Inc. 1,621 — Intrexon Energy Partners II, LLC 17,833 — Other 20,339 25,886 Total $ 181,331 $ 107,228 |
Short-term and Long-term Invest
Short-term and Long-term Investments | 12 Months Ended |
Dec. 31, 2015 | |
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, 2015 : Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Aggregate Fair Value U.S. government debt securities $ 208,223 $ 21 $ (540 ) $ 207,704 Certificates of deposit 271 — — 271 Total $ 208,494 $ 21 $ (540 ) $ 207,975 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 Cost Gross Unrealized Gains Gross Unrealized Losses Aggregate Fair Value U.S. government debt securities $ 115,293 $ 54 $ (12 ) $ 115,335 Certificates of deposit 273 — — 273 Total $ 115,566 $ 54 $ (12 ) $ 115,608 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, 2015 was: Due within one year $ 102,528 After one year through two years 105,447 Total $ 207,975 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, 2015 and 2014 , 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, 2015 | |
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, 2015 : Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, Assets U.S. government debt securities (Note 6) $ — $ 207,704 $ — $ 207,704 Equity securities (Note 5) 65,850 17,803 — 83,653 Other — 405 — 405 $ 65,850 $ 225,912 $ — $ 291,762 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 Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, Assets U.S. government debt securities (Note 6) $ — $ 115,335 $ — $ 115,335 Equity securities (Note 5) 143,927 20,962 — 164,889 Other — 273 — 273 $ 143,927 $ 136,570 $ — $ 280,497 The carrying values of the Company's long term debt approximates fair value due to the length of time to maturity and/or the existence of interest rates that approximate prevailing market rates. Financial liabilities measured on a recurring basis were not significant at December 31, 2015 and 2014 . 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. During the year ended December 31, 2015 , $8,307 of certain equity securities have been transferred from Level 2 to Level 1 as a result of no longer needing to apply a discount for lack of marketability to these transferred equity securities. |
Inventory
Inventory | 12 Months Ended |
Dec. 31, 2015 | |
Inventory Disclosure [Abstract] | |
Inventory | Inventory Inventory consists of the following: December 31, 2015 2014 Supplies, semen and embryos $ 1,402 $ 1,184 Work in process 6,290 5,637 Livestock 16,907 16,996 Feed 1,964 1,972 Total inventory $ 26,563 $ 25,789 |
Property, Plant and Equipment,
Property, Plant and Equipment, Net | 12 Months Ended |
Dec. 31, 2015 | |
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, 2015 2014 Land and land improvements $ 9,119 $ 7,565 Buildings and building improvements 7,520 7,265 Furniture and fixtures 1,283 1,236 Equipment 36,016 31,983 Leasehold improvements 6,888 6,382 Computer hardware and software 5,960 5,060 Construction and other assets in progress 2,193 1,002 68,979 60,493 Less: Accumulated depreciation and amortization (26,240 ) (22,493 ) Property, plant and equipment, net $ 42,739 $ 38,000 Depreciation expense was $7,872 , $6,178 and $4,325 for the years ended December 31, 2015 , 2014 and 2013 , respectively. |
Goodwill and Intangible Assets,
Goodwill and Intangible Assets, Net | 12 Months Ended |
Dec. 31, 2015 | |
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, 2015 and 2014 , are as follows: Balance as of December 31, 2013 $ 13,823 Acquisitions 87,236 Balance as of December 31, 2014 101,059 Acquisitions 67,403 Foreign currency translation adjustment (3,293 ) Balance as of December 31, 2015 $ 165,169 No goodwill or accumulated impairment losses existed as of December 31, 2015 and 2014 . Intangible assets consist of the following at December 31, 2015 : Weighted Average Useful Life (Years) Gross Carrying Amount Accumulated Amortization Net Patents, related technologies and know-how 14.9 $ 157,411 $ (17,775 ) $ 139,636 Customer relationships 6.5 10,700 (2,739 ) 7,961 Trademarks 9.3 6,800 (1,018 ) 5,782 Covenant not to compete 2.0 384 (160 ) 224 In-process research and development 93,932 — 93,932 Total $ 269,227 $ (21,692 ) $ 247,535 Intangible assets consist of the following at December 31, 2014 : Gross Carrying Amount Accumulated Amortization Net 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 Amortization expense was $9,871 , $4,237 and $2,880 for the years ended December 31, 2015 , 2014 and 2013 , respectively. Total amortization expense is estimated to be $13,967 for 2016 , $13,558 for 2017 , $12,915 for 2018 , $12,592 for 2019 , $12,172 for 2020 , and $88,399 for the cumulative period thereafter. |
Lines of Credit and Long Term D
Lines of Credit and Long Term Debt | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Lines of Credit and Long Term Debt | Lines of Credit and Long Term Debt Lines of Credit Trans Ova has a $6,000 revolving line of credit with First National Bank of Omaha which matures on May 1, 2016. The line of credit bears interest at the greater of 2.95% above the London Interbank Offered Rate or 3.00% and the actual rate was 3.15% at December 31, 2015 . As of December 31, 2015 , there were no amounts outstanding. The amount available under the line of credit is based on eligible accounts receivable and inventory up to the maximum principal amount. The line of credit is collateralized by certain of Trans Ova's 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, 2015 . Exemplar has a $700 revolving line of credit with American State Bank which matures on November 1, 2016. The line of credit bears interest at 4.50% per annum. As of December 31, 2015 , there was an outstanding balance of $561 . Long Term Debt Long term debt consists of the following: December 31, 2015 2014 Notes payable $ 6,477 $ 7,653 Royalty-based financing 1,807 1,926 Other 244 790 Long term debt 8,528 10,369 Less current portion 930 1,675 Long term debt, less current portion $ 7,598 $ 8,694 Trans Ova has a note payable with American State Bank which matures in April 2033 and has an outstanding principal balance of $5,606 as of December 31, 2015 . Trans Ova pays monthly installments of $39 , which includes interest at 3.95% . The note payable is collateralized by certain of Trans Ova's real estate and non-real estate 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 $366 as of December 31, 2015 . Trans Ova pays quarterly installments of $183 . The note payable is collateralized by certain of Trans Ova's real estate and project assets financed. Exemplar has notes payable with outstanding principal balances totaling $505 as of December 31, 2015 . 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 was $2,070 , which AquaBounty claimed 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 additional regulatory considerations, 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 . 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, AquaBounty has claimed the remaining balance available under the grant, resulting in total long term debt of $1,807 as of December 31, 2015 . Future maturities of long term debt are as follows: 2016 $ 930 2017 383 2018 526 2019 341 2020 311 Thereafter 4,230 Total $ 6,721 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, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The components of loss before income taxes are presented below: Year Ended December 31, 2015 2014 2013 Domestic $ (69,287 ) $ (83,256 ) $ (39,250 ) Foreign (17,691 ) (2,463 ) (1,658 ) Loss before income taxes $ (86,978 ) $ (85,719 ) $ (40,908 ) The components of income tax expense (benefit) are presented below: Year Ended December 31, 2015 2014 2013 U.S. federal income taxes: Current $ 22 $ — $ — Deferred 1,732 — — Foreign income taxes: Current (123 ) (103 ) — Deferred (1,003 ) — — State income taxes: Deferred 388 — — Income tax expense (benefit) $ 1,016 $ (103 ) $ — Income tax expense (benefit) for the years ended December 31, 2015 , 2014 and 2013 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: 2015 2014 2013 Computed statutory income tax benefit $ (29,573 ) $ (29,144 ) $ (13,909 ) State and provincial income tax benefit, net of federal income taxes (3,157 ) (3,544 ) (1,834 ) Nondeductible stock based compensation 3,182 1,386 575 Nondeductible officer compensation 2,433 — — Contribution of services by shareholder — 677 527 Gain on previously held equity investment — — (2,477 ) Research and development tax incentives (348 ) 258 (1,203 ) Acquisition-related transaction costs 883 — — Enacted change in tax rates (961 ) — — U.S.-foreign rate differential 620 — — Other, net (98 ) 1,503 1,317 (27,019 ) (28,864 ) (17,004 ) Change in valuation allowance for deferred tax assets 28,035 28,761 17,004 Total income tax expense (benefit) $ 1,016 $ (103 ) $ — The tax effects of temporary differences that comprise the deferred tax assets and liabilities at December 31, 2015 and 2014 , are as follows: 2015 2014 Deferred tax assets Allowance for doubtful accounts $ 1,056 $ 783 Inventory 967 — Equity securities and investments in affiliates 10,413 4,694 Property, plant and equipment — 79 Accrued liabilities and long-term debt 4,585 2,703 Stock-based compensation 7,223 8,283 Deferred revenue 31,637 43,774 Research and development tax credits 9,113 9,661 Net operating loss carryforwards 135,633 103,114 Total deferred tax assets 200,627 173,091 Less: Valuation allowance 190,174 161,660 Net deferred tax assets 10,453 11,431 Deferred tax liabilities Property, plant and equipment 160 — Intangible assets 32,095 11,431 Total deferred tax liabilities 32,255 11,431 Net deferred tax assets (liabilities) $ (21,802 ) $ — Activity within the valuation allowance for deferred tax assets during the years ended December 31, 2015 , 2014 and 2013 was as follows: 2015 2014 2013 Valuation allowance at beginning of year $ 161,660 $ 131,985 $ 113,051 Increase (decrease) in valuation allowance as a result of Mergers and acquisitions, net 1,228 914 1,930 Current year operations 28,035 28,761 17,004 Foreign currency translation adjustment (749 ) — — Valuation allowance at end of year $ 190,174 $ 161,660 $ 131,985 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, any corresponding net domestic and certain foreign 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. 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 amended ("Section 382"). As a result, utilization of portions of the net operating losses may be subject to annual limitations. As of December 31, 2015 , approximately $16,400 of the Company's domestic net operating losses generated prior to 2008 are limited by Section 382 to annual usage limits of approximately $1,500 . As of December 31, 2015 , approximately $19,100 of the Company's domestic 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, 2015 , the Company has loss carryforwards for federal income tax purposes of approximately $248,669 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, $27,851 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 subsidiaries have foreign loss carryforwards of approximately $109,743 , most of which do not expire. The Company does not record deferred taxes on the undistributed earnings of its direct foreign subsidiaries because it does not expect the temporary differences related to those unremitted earnings to reverse in the foreseeable future. At December 31, 2015 , the Company's direct foreign subsidiaries had accumulated deficits of approximately $2,804 . Future distributions of accumulated earnings of the Company's direct foreign subsidiaries 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, 2015 , AquaBounty has loss carryforwards for federal and foreign income tax purposes of approximately $17,100 and $10,900 , respectively, and foreign tax credits of approximately $2,200 available to offset future taxable income, 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 domestic losses and credits carried forward by AquaBounty from prior years, which are also subject to prior Section 382 limitations. At December 31, 2015 , BioPop had loss carryforwards of approximately $1,400 for federal income tax purposes available to offset future taxable income. The Company and its subsidiaries do not have material unrecognized tax benefits as of December 31, 2015 . 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 Preferre
Redeemable Convertible Preferred Stock and Shareholders' Equity | 12 Months Ended |
Dec. 31, 2015 | |
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 Redeemable Convertible Preferred Stock Series B Redeemable Convertible Preferred Stock Series B-1 Redeemable Convertible Preferred Stock Shares Amount Shares Amount Shares Amount 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 Redeemable Convertible Preferred Stock Series C-1 Redeemable Convertible Preferred Stock Series C-2 Redeemable Convertible Preferred Stock Shares Amount Shares Amount Shares Amount 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 Redeemable Convertible Preferred Stock Series D Redeemable Convertible Preferred Stock Series E Redeemable Convertible Preferred Stock Shares Amount Shares Amount Shares Amount 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. Issuances of Common Stock In August 2015, the Company closed a public offering of 5,609,756 shares of its common stock, the aggregate proceeds of which were $218,193 , net of underwriting discounts of $11,500 and offering expenses paid by the Company of approximately $306 , all of which were capitalized. In January 2015, the Company closed a public offering of 4,312,500 shares of its common stock, including 555,556 shares of common stock purchased by affiliates of Third Security. The aggregate proceeds of the offering were $110,041 , net of underwriting discounts and commissions of $6,086 and offering expenses paid by the Company of approximately $311 , all of which were capitalized. In March 2014 and concurrent with the formation of Intrexon Energy Partners, the Company entered into securities purchase agreements with each of the IEP Investors in Intrexon Energy Partners for the private placement of 972,004 shares of the Company's common stock for gross proceeds of $25,000 . Each IEP 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. Dividend to Shareholders In June 2015, the Company distributed to its shareholders 17,830,305 shares of ZIOPHARM common stock, representing all of the equity interests of ZIOPHARM held by the Company and resulting in a realized gain of $81,401 . The distribution constituted a dividend to shareholders of record as of June 4, 2015. In connection with the distribution, pursuant to the terms of the Company's equity incentive plans, the conversion terms of all outstanding options for shares of the Company's common stock as of June 4, 2015 were adjusted to reflect the value of the distribution with respect to shares of the Company's common stock by decreasing the exercise prices and increasing the number of shares. This adjustment resulted in 312,795 additional shares at a weighted average exercise price of $25.40 . Components of Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss are as follows: December 31, 2015 2014 Unrealized gain (loss) on investments $ (519 ) $ 42 Foreign currency translation adjustments (12,233 ) (46 ) Total accumulated other comprehensive loss $ (12,752 ) $ (4 ) |
Share-Based Payments
Share-Based Payments | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Payments | Share-Based Payments 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, 2015 2014 2013 Cost of products $ 95 $ 14 $ — Cost of services 354 142 — Research and development 8,614 4,817 514 Selling, general and administrative 29,604 16,876 2,407 Total $ 38,667 $ 21,849 $ 2,921 Intrexon Stock Option Plans In April 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. 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, 2015 , there were 1,261,192 stock options outstanding under the 2008 Plan. 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 of the Company's initial public offering in August 2013, and as of December 31, 2015 , there were 13,000,000 shares authorized for issuance under the 2013 Plan, of which 9,782,336 stock options were outstanding and 2,534,542 shares were available for grant. 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 four years from the date of grant. Stock option activity under Intrexon's award plans was as follows for the periods presented: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Balances at December 31, 2012 2,313,526 $ 5.90 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 Granted 5,051,500 45.82 Adjustment due to dividend (Note 13) 312,795 25.40 Exercised (1,029,291 ) (15.16 ) Forfeited (1,610,335 ) (26.75 ) Expired (4,685 ) (28.29 ) Balances at December 31, 2015 11,043,528 32.66 8.49 Exercisable at December 31, 2015 2,494,426 18.31 6.82 Vested and Expected to Vest at December 31, 2015(1) 9,235,535 31.52 8.13 (1) The number of stock options expected to vest takes into account an estimate of expected forfeitures. Total unrecognized compensation costs related to unvested awards at December 31, 2015 , 2014 and 2013 were $113,655 , $62,281 and $9,639 , 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 2015 , 2014 and 2013 was $25.96 , $16.40 and $12.91 , respectively. The aggregate intrinsic value of options exercised during 2015 , 2014 and 2013 was $24,675 , $6,350 and $1,136 , 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 where the exercise price was lower than the fair value of Intrexon's common stock on the date of exercise. The following table summarizes additional information about stock options outstanding as of December 31, 2015 : Options Outstanding Options Exercisable Range of Exercise Prices Number of Options Weighted Average Exercise Price Weighted Average Remaining Life (Years) Aggregate Intrinsic Value Number of Options Weighted Average Exercise Price Weighted Average Remaining Life (Years) Aggregate Intrinsic Value $ 0.38 — $ 9.34 1,261,192 $ 6.40 5.40 $ 29,956 1,147,978 $ 6.19 5.25 $ 27,507 $ 15.21 — $ 28.93 2,682,516 24.25 8.43 15,831 602,023 24.43 8.36 3,445 $ 29.14 — $ 29.68 2,895,885 29.63 8.44 1,508 635,743 29.68 7.99 299 $ 30.10 — $ 56.77 3,118,935 44.48 9.46 — 108,682 45.87 8.02 — $ 57.95 — $ 65.34 1,085,000 58.07 9.55 — — — — — 11,043,528 $ 32.66 8.49 $ 47,295 2,494,426 $ 18.31 6.82 $ 31,251 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 Options Weighted Average Exercise Price Weighted Average Remaining Life (Years) Aggregate Intrinsic Value Number of Options Weighted Average Exercise Price Weighted Average Remaining Life (Years) Aggregate Intrinsic Value $ 0.39 — $ 9.67 1,747,494 $ 6.49 6.25 $ 36,772 1,293,184 $ 6.07 5.90 $ 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 — — — — — $ 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 Intrexon currently uses authorized and unissued shares to satisfy share award exercises. In October 2015, the Compensation Committee and the independent members of the Intrexon Board of Directors approved a compensation arrangement whereby the Company's Chief Executive Officer ("CEO") would receive a monthly salary. Previously, the CEO did not receive compensation for his services as an employee of the Company other than through his participation in the Company's Annual Executive Incentive Plan which became effective January 1, 2015 (Note 17 ). Pursuant to the compensation agreement, the CEO receives a base salary of $200 per month payable in fully-vested shares of Intrexon common stock with such shares subject to a three year lock-up on resale. The monthly number of shares of common stock is calculated based on the closing price on the last trading day of each month and the shares are issued pursuant to the terms of a Restricted Stock Unit Agreement (the "RSU Agreement") which was executed between Intrexon and the CEO pursuant to the terms of the 2013 Plan. The RSU Agreement became effective in November 2015, has an initial term of 12 months , and is renewable annually at the discretion of the Board of Directors of the Company. The fair value of the shares issued as compensation for services is included in selling, general, and administrative expenses in the Company's consolidated statement of operations for the year ended December 31, 2015 and totaled $314 . Prior to 2015, the CEO did not receive compensation for his services as CEO, and as a result, the Company recorded $1,991 and $1,550 in compensation expense for the years ended December 31, 2014 and 2013 , respectively, based on the estimated salary and benefits appropriate for the role. Other Plans As of December 31, 2015 , there were 5,382,000 options, which are exercisable into shares of AquaBounty common stock, outstanding under the AquaBounty 2006 Equity Incentive Plan at a weighted average exercise price of $0.26 per share of which 4,320,333 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. |
License Agreement
License Agreement | 12 Months Ended |
Dec. 31, 2015 | |
License Agreement [Abstract] | |
License Agreement | License Agreement In January 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 MD Anderson Cancer Center ("MD Anderson") whereby the Company received an exclusive license to certain research and development technologies owned and licensed by MD 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. ZIOPHARM shall receive access to these technologies pursuant to the terms of the Company's ECC with ZIOPHARM. The Company issued 2,100,085 shares of its common stock valued at $59,579 to MD Anderson as consideration, which is included in research and development expenses in the accompanying consolidated statement of operations for the year ended December 31, 2015. Subject to certain exceptions, the license agreement expires on the last to occur of (i) the expiration of all patents licensed thereunder, or (ii) the twentieth anniversary of the date of the license agreement. In connection with the license agreement, the Company, ZIOPHARM, and MD Anderson entered into a research and development agreement which governs certain operational activities between the parties and pursuant to which ZIOPHARM will provide funding for certain research and development activities of MD 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 MD Anderson for out of pocket expenses for maintaining patents covering the licensed technologies. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Operating Leases The Company leases certain facilities and equipment under noncancelable operating leases. The equipment leases are renewable at the option of the Company. At December 31, 2015 , future minimum lease payments under operating leases having initial or remaining noncancelable lease terms in excess of one year are as follows: 2016 $ 4,136 2017 3,837 2018 2,317 2019 2,129 2020 2,182 Thereafter 1,606 $ 16,207 Rent expense, including other facility expenses, was $8,610 , $8,511 and $5,672 in 2015 , 2014 and 2013 , respectively. The Company maintains subleases for certain of its facilities. Rental income under sublease agreements was $1,486 , $908 and $365 for the years ended December 31, 2015 , 2014 and 2013 , respectively. Future rental income is expected to be $741 for 2016 and $96 for 2017 . Contingencies In March 2012, Trans Ova was named as a defendant in a licensing and patent infringement suit brought by XY, LLC alleging that certain of Trans Ova's activities breach a licensing agreement and infringe on patents that XY, LLC allegedly owns. Trans Ova filed a number of counterclaims in the case. The matter proceeded to a jury trial in January 2016 and in February 2016, the jury determined that XY, LLC and Trans Ova had each breached the licensing agreement, and that Trans Ova had infringed the intellectual property of XY, LLC. The Company and Trans Ova believe they have compelling grounds to overturn the adverse findings of the jury either prior to the judge's final ruling on the case or through appellate actions and that, as a result, the amount of damages could be reduced or eliminated. Trans Ova could, however, elect to enter into a settlement agreement in order to avoid the further costs and uncertainties of litigation, to obtain a license to XY, LLC's technologies, or to recover monetary damages related to Trans Ova's antitrust counterclaims. The jury awarded damages to XY, LLC in the amount of $6,066 which amount may subsequently be increased by virtue of attorneys' fees or punitive damages. The jury awarded damages to Trans Ova in the amount of $528 and did not award damages on any other of Trans Ova's counterclaims. Since the inception of the license, Trans Ova has remitted payments to XY, LLC pursuant to the terms of the license agreement and has recorded these payments in cost of services in the consolidated statements of operations for the respective periods. For the period from inception of the agreement through December 31, 2015, aggregate payments due were $3,270 , of which $2,859 had not yet been deposited by XY, LLC. Because of the uncertainty of the outcome of the final judgment and any subsequent appeals, it is not reasonably possible to predict the outcome of this litigation, nor is it reasonably possible to provide an estimate of the reasonably possible gain or loss which may arise as a result thereof. The Company may become subject to other 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, 2015 and 2014 , 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, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related Party Transactions Third Security and Affiliates The Company's CEO and Chairman of the Board of Directors of the Company is also the manager of Third Security. 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. In November 2015, the Board of Directors of the Company approved the execution of a Services Agreement ("Services Agreement") with Third Security pursuant to which Third Security provides the Company with certain professional, legal, financial, administrative, and other support services necessary to support the Company and its CEO. As consideration for providing these services, Third Security is entitled to a fee of $800 per month to be paid in the form of fully-vested shares of the Company's common stock. The number of shares of common stock is calculated based on the closing price of the Company's common stock on the 15th day of each month. The payments made by the Company under the Services Agreement constitute, in the aggregate, an award under the 2013 Plan and are subject to the terms of the 2013 Plan (Note 14 ). The Services Agreement has a term of one year , can be terminated by the Company at any time, and may be extended only by agreement of the parties, including approval of a majority of the independent members of the Company's Board of Directors. For the year ended December 31, 2015 , the Company issued 48,678 shares with a value of $1,375 to Third Security as payment for services pursuant to the Services Agreement. In addition to the foregoing Services Agreement, the Company reimburses Third Security for certain administrative services and out-of-pocket expenses incurred on the Company's behalf and the total fair value of expenses incurred by the Company under this arrangement was $428 , $291 , and $455 , for the years ended December 31, 2015 , 2014 and 2013 , respectively. See also Note 14 regarding compensation arrangements between the Company and its CEO. 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 July 2015, the Company purchased 375,868 shares of common stock of Fibrocell at $5.80 per share. In March 2015, the Company purchased 278,788 shares of common stock of AmpliPhi Biosciences Corporation ("AmpliPhi"), a collaborator, and 69,696 warrants for $2,300 . Of the total purchase price, $1,979 was allocated to the value of the shares of common stock and $321 was allocated to the value of the warrants. The number of shares and warrants received reflects a 1-for-50 reverse stock split of AmpliPhi's common stock effective August 7, 2015. The AmpliPhi warrants have been included in other assets on the consolidated balance sheet with a value of $134 as of December 31, 2015 . Between February 2011 and February 2015, the Company purchased $43,582 of ZIOPHARM securities. See Note 13 for additional discussion related to the Company's investment in ZIOPHARM. 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 in December 2014, the note, with 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. In conjunction with the ECC with Oragenics, 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. In November 2013, the Company purchased 1,100,000 shares of Oragenics common stock at $2.50 per share. In September 2013, the Company purchased 1,300,000 shares of Oragenics common stock at $3.00 per share in a private transaction. In connection with Oragenics ECC 3, the Company agreed to purchase additional common stock in a qualified financing, as defined in the agreement, during the sixteen months following the effective date of the Oragenics ECC 3 in an amount up to the lesser of (i) the amount that is the proportion of such financing equal to the Company's pro rata equity holdings in Oragenics as of the effective date and (ii) $10,000 , subject to certain conditions. The Company recognized $77,354 , $41,030 , and $22,783 of collaboration revenues from related parties in the years ended December 31, 2015 , 2014 and 2013 , respectively. Other Related Parties In June 2015, the Company entered into an agreement with Harvest, an investment fund sponsored by Harvest Capital Strategies, LLC, and a related party based on ownership in the fund by affiliates of Third Security. Harvest was established to invest in life science research and development start-up opportunities offered by Intrexon to Harvest. For such start-up opportunities, the Company will provide Harvest with exclusive rights of first-look and first negotiation. For any opportunities it decides to pursue, Harvest would establish new collaboration entities which would enter into an ECC with the Company in a designated field. The terms of each ECC would be negotiated between the Company and Harvest. In addition, the agreement provides the Company the right to present to Harvest non-exclusive opportunities to invest in other ventures, including investment opportunities with respect to the Company's existing collaborations. The agreement with Harvest does not limit the Company's ability to execute other collaborations and joint ventures with third parties. As consideration for providing exclusive rights of first look and first negotiation for start-up opportunities, the Company receives a portion of the management fee collected by the fund sponsor of Harvest. These fees are included in other income in the accompanying consolidated statements of operations and totaled $1,349 for the year ended December 31, 2015 . |
Net Loss per Share
Net Loss per Share | 12 Months Ended |
Dec. 31, 2015 | |
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: 2015 2014 2013 Historical net loss per share: Numerator: Net loss attributable to Intrexon $ (84,493 ) $ (81,822 ) $ (38,980 ) Add: Accretion of dividends on redeemable convertible preferred stock — — (18,391 ) Net loss attributable to common shareholders $ (84,493 ) $ (81,822 ) $ (57,371 ) Denominator: Weighted average shares outstanding, basic and diluted 111,066,352 99,170,653 40,951,952 Net loss attributable to common shareholders per share, basic and diluted $ (0.76 ) $ (0.83 ) $ (1.40 ) The following potentially dilutive securities as of December 31, 2015 , 2014 , and 2013 , 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, 2015 2014 2013 Options 11,043,528 8,323,544 2,840,648 Warrants 194,719 352,483 414,404 Total 11,238,247 8,676,027 3,255,052 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 year ended December 31, 2013. |
Quarterly Financial Information
Quarterly Financial Information (Unaudited) | 12 Months Ended |
Dec. 31, 2015 | |
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, Total revenues $ 33,849 $ 44,891 $ 53,367 $ 41,498 Operating loss (87,123 ) (17,430 ) (7,916 ) (34,395 ) Net income (loss) 25,804 (41,494 ) (39,029 ) (33,275 ) Net income (loss) attributable to Intrexon 27,097 (40,663 ) (38,213 ) (32,714 ) Net income (loss) attributable to common shareholders per share, basic $ 0.26 $ (0.37 ) $ (0.34 ) $ (0.28 ) Net income (loss) attributable to common shareholders per share, diluted 0.25 (0.37 ) (0.34 ) (0.28 ) Three Months Ended March 31, June 30, September 30, December 31, 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 |
Defined Contribution Plans
Defined Contribution Plans | 12 Months Ended |
Dec. 31, 2015 | |
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 $1,157 , $776 and $598 in 2015 , 2014 and 2013 , respectively. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events In February 2016, the Company acquired substantially all of the assets of EnviroFlight, LLC ("EnviroFlight") for approximately $4,250 in cash and 136,340 shares of the Company's common stock at closing. Immediately after the acquisition, the Company contributed the acquired assets and committed to fund an initial $3,000 in cash to a joint venture formed between the Company and Darling Ingredients Inc. ("Darling") to generate high-nutrition, low environmental impact animal and fish feed, as well as fertilizer products. Both the Company and Darling have each agreed to contribute up to $5,000 in additional capital contributions to fund the operations of the joint venture. The EnviroFlight members may receive up to $5,500 in additional shares of the Company's common stock if the joint venture meets certain regulatory and commercial milestones prior to February 2019. In February 2016, Intrexon and AquaBounty entered into a promissory note (the "note") whereby AquaBounty may draw up to $10,000 . The note bears interest at 10% and matures in March 2017, and the outstanding principal and interest amounts may be converted to AquaBounty common stock at the election of Intrexon. AquaBounty borrowed $2,500 in February 2016. |
Summary of Significant Accoun29
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
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") and licensing agreements whereby the collaborators or the licensee 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 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 applications 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 or licensing agreement. The Company's collaboration and licensing agreements typically contain multiple elements, or deliverables, including technology licenses, research and development services, and in certain cases manufacturing services. 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 or licensee 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 or licensees, 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 the Milestone Method for recognizing milestone payments. 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 and licensing 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. From time to time, the Company and certain collaborators may cancel their agreements, relieving the Company of any further performance obligations under the agreement. When no further performance obligations are required of the Company under an agreement, the Company recognizes any remaining deferred revenue. The Company also generates product and service revenues primarily 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, including stock-based compensation expense, and the costs of consultants, certain in-license technology rights, 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, 2015 and 2014 , the Company had research and development commitments with third parties that had not yet been incurred totaling $4,138 and $2,183 , respectively. 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, 2015 , 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 since the Company does not intend to sell these equity securities within one year. 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, 2015 , gross unrealized losses on the Company's short-term and long-term 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, or distribute its equity securities to shareholders as a stock dividend. 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 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. In March 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. 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 equity interest. The Company is party to four strategic joint ventures. The Company accounts for its investments in these joint ventures and for its investment in Thrive Agrobiotics, Inc. ("Thrive Agrobiotics") 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 one of its collaborators, Oragenics, Inc. ("Oragenics"), as of December 31, 2015 , and over two if its collaborators, Oragenics and ZIOPHARM Oncology, Inc. ("ZIOPHARM"), as of December 31, 2014 , based on its ownership interests, representation on the board of directors of the collaborators and other qualitative factors. The Company accounts for these investments using the fair value option. In 2014 and 2013, the Company determined that ZIOPHARM met the criteria of SEC Regulation S-X Article 3-09 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. |
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 Land improvements 4–20 Buildings and building improvements 3–23 Furniture and fixtures 1–10 Equipment 1–10 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. 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, related technologies and know-how; customer relationships; trademarks; and a covenant not to compete acquired as a result of mergers and acquisitions. 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 and were recorded at fair value at the dates of the respective acquisitions. The Company amortizes 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 two to eighteen years for the patents, related technologies and know-how; customer relationships; trademarks; and the covenant not to compete. |
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. |
Share-Based Payments | Share-Based Payments 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 its common stock price, expected volatility is based on a blended approach which utilizes the volatility of Intrexon's common stock and the 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 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 New York Stock Exchange. Intrexon estimates forfeitures based on its historical analysis of actual stock option forfeitures. 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, 2015 , 2014 and 2013 are set forth in the table below: 2015 2014 2013 Valuation assumptions Expected dividend yield 0% 0% 0% Expected volatility 59%—62% 62%—64% 73%—75% Expected term (years) 6.25 6.25 6.25 Risk-free interest rate 1.56%—1.95% 1.82%—2.14% 0.96%—1.86% |
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. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, Leases (Topic 842) ("ASU 2016-02"). The provisions of ASU 2016-02 set out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 month or less will be accounted for similar to existing guidance for operating leases today. Topic 842 supersedes the previous leave standard, Topic 840 Leases . The guidance is effective for annual periods and interim periods within those annual periods beginning after December 15, 2018, and is effective for the Company for the year ending December 31, 2019. The Company is currently evaluating the impact that the implementation of this standard will have on the Company's consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities ("ASU 2016-01"). The provisions of ASU 2016-01 make targeted improvements to enhance the reporting model for financial instruments to provide users of financial statements with more decision-useful information, including certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The guidance is effective for annual periods and interim periods within those annual periods beginning after December 15, 2017, and is effective for the Company for the year ending December 31, 2018. The Company is currently evaluating the impact that the implementation of this standard will have on the Company's consolidated financial statements. In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740) - Balance Sheet Classification of Deferred Taxes ("ASU 2015-17"). The provisions of ASU 2015-17 simplify the presentation of deferred income taxes by requiring an entity to classify deferred tax liabilities and assets as noncurrent on a classified balance sheet. The guidance is effective for annual periods and interim periods within those annual periods beginning after December 15, 2016, with early adoption permitted, 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 September 2015, the FASB issued ASU 2015-16, Business Combinations: Simplifying the Accounting for Measurement-Period Adjustments ("ASU 2015-16"). The provisions of ASU 2015-16 eliminate the requirement for an acquirer in a business combination to account for measurement-period adjustments retrospectively. Rather, the acquirer must recognize adjustments during the period in which the amounts are determined, including the effect on earnings of any amounts that would have been recorded in previous periods. The guidance is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015, with early adoption permitted. The Company elected to early adopt this guidance and there was no significant impact on the Company's consolidated financial statements. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330) - Simplifying the Measurement of Inventory ("ASU 2015-11"). The provisions of ASU 2015-11 provide guidance for simplifying the calculation for subsequent measurement of inventory measured using the first-in-first-out or average cost methods. The guidance is effective for annual periods and interim periods within those annual periods 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 February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810) - Amendments to the Consolidation Analysis ("ASU 2015-02"). The provisions of ASU 2015-02 provide guidance which changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. This guidance is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015, with early adoption permitted. The Company elected to early adopt this guidance and there was no significant impact on the Company's consolidated financial statements. In May 2014, the 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 was originally effective for annual periods and interim periods within those annual periods beginning after December 15, 2016 and early adoption was not permitted. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606) - Deferral of the Effective Date ("ASU 2015-14"), which deferred the effective date of the guidance in ASU 2014-9 by one year to December 15, 2017 for interim and annual reporting periods beginning after that date and permitted early adoption of the standard, but not before the original effective date of December 15, 2016, and is effective for the Company for the year ending December 31, 2018. 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 Accoun30
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Summarized Financial Information of Equity Method Investments | Summarized financial data as of December 31, 2015 and 2014 , and for the years ended December 31, 2015 , 2014 , and 2013 , for the Company's equity method investments are as follows: December 31, 2015 2014 Current assets $ 28,123 $ 63,627 Non-current assets 1,539 1,259 Total assets 29,662 64,886 Current liabilities 6,274 15,346 Non-current liabilities — 570 Total liabilities 6,274 15,916 Net assets $ 23,388 $ 48,970 Year Ended December 31, 2015 2014 2013 Revenues, net $ 1,720 $ 2,313 $ 1,832 Operating expenses 123,842 62,161 77,011 Operating loss (122,122 ) (59,848 ) (75,179 ) Other (54 ) 11,753 743 Net loss $ (122,176 ) $ (48,095 ) $ (74,436 ) |
Rollforward of Allowance for Doubtful Accounts | The following table shows the activity in the allowance for doubtful accounts for the years ended December 31, 2015 and 2014 : 2015 2014 Beginning balance $ 565 $ — Charged to operating expenses 1,757 565 Write offs of accounts receivable (241 ) — Ending balance $ 2,081 $ 565 |
Estimated Useful Lives of Property, Plant and Equipment | The estimated useful lives of these assets are as follows: Years Land improvements 4–20 Buildings and building improvements 3–23 Furniture and fixtures 1–10 Equipment 1–10 Computer hardware and software 1–7 |
Summary of Assumptions Used in Pricing Model | The assumptions used in the Black-Scholes option pricing model for the years ended December 31, 2015 , 2014 and 2013 are set forth in the table below: 2015 2014 2013 Valuation assumptions Expected dividend yield 0% 0% 0% Expected volatility 59%—62% 62%—64% 73%—75% Expected term (years) 6.25 6.25 6.25 Risk-free interest rate 1.56%—1.95% 1.82%—2.14% 0.96%—1.86% |
Mergers and Acquisitions (Table
Mergers and Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Oxitec Limited | |
Business Acquisition [Line Items] | |
Fair Value of Consideration Transferred | The acquisition date fair value of the Stock Consideration and Cash Consideration is presented below: Cash $ 90,199 Common shares 56,195 $ 146,394 |
Fair Value of Assets Acquired and Liabilities Assumed | The estimated fair value of assets acquired and liabilities assumed at the acquisition date is shown below: Cash $ 3,780 Trade receivables 125 Other receivables 7,395 Prepaid expenses and other 121 Property, plant, and equipment 1,198 Intangible assets 96,854 Total assets acquired 109,473 Accounts payable 1,187 Accrued compensation and benefits 246 Other accrued liabilities 210 Deferred revenue 120 Deferred tax liabilities 12,584 Total liabilities assumed 14,347 Net assets acquired 95,126 Goodwill 51,268 Total consideration $ 146,394 |
Okanagan Specialty Fruits Inc. | |
Business Acquisition [Line Items] | |
Fair Value of Consideration Transferred | The acquisition date fair value of each class of consideration transferred is presented below: Cash $ 10,000 Common shares 30,933 $ 40,933 |
Fair Value of Assets Acquired and Liabilities Assumed | The estimated fair value of assets acquired and liabilities assumed at the acquisition date is shown below along with subsequent adjustments during the measurement period to the fair value of assets acquired and liabilities assumed. The adjustments resulted from revisions to the valuation of intangible assets. Initial Estimated Fair Value Adjustments Adjusted Fair Value Cash $ 58 $ — $ 58 Trade receivables 16 — 16 Other receivables 49 — 49 Property, plant, and equipment 32 — 32 Intangible assets 33,800 2,700 36,500 Total assets acquired 33,955 2,700 36,655 Accounts payable 181 — 181 Deferred revenue 181 — 181 Deferred tax liabilities 8,145 702 8,847 Total liabilities assumed 8,507 702 9,209 Net assets acquired 25,448 1,998 27,446 Goodwill 15,485 (1,998 ) 13,487 Total consideration $ 40,933 $ — $ 40,933 |
ActoGeniX NV | |
Business Acquisition [Line Items] | |
Fair Value of Consideration Transferred | The acquisition date fair value of each class of consideration transferred is presented below: Cash $ 32,739 Common shares 39,735 $ 72,474 |
Fair Value of Assets Acquired and Liabilities Assumed | The estimated fair value of assets acquired and liabilities assumed at the acquisition date is shown below along with subsequent adjustments during the measurement period to the fair value of assets acquired and liabilities assumed. The adjustments resulted from the difference between estimated and actual accrued expenses. Initial Estimated Fair Value Adjustments Adjusted Fair Value Cash $ 3,180 $ — $ 3,180 Other receivables 305 — 305 Prepaid expenses and other 31 — 31 Property, plant and equipment 209 — 209 Intangible assets 68,100 — 68,100 Other non-current assets 23 — 23 Total assets acquired 71,848 — 71,848 Accounts payable 230 — 230 Accrued compensation and benefits 624 (428 ) 196 Other accrued liabilities 307 (54 ) 253 Deferred revenue 732 — 732 Deferred tax liabilities 612 — 612 Total liabilities assumed 2,505 (482 ) 2,023 Net assets acquired 69,343 482 69,825 Goodwill 3,131 (482 ) 2,649 Total consideration $ 72,474 $ — $ 72,474 |
Trans Ova Genetics, LC | |
Business Acquisition [Line Items] | |
Fair Value of 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 |
Fair Value of 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 $ 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 |
Medistem, Inc. | |
Business Acquisition [Line Items] | |
Fair Value of 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 |
Fair Value of 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 $ 8 Intangible assets 4,824 Total assets acquired 4,832 Accounts payable 644 Accrued compensation and benefits 67 Other accrued liabilities 50 Total liabilities assumed 761 Net assets acquired 4,071 Goodwill 20,924 Total consideration $ 24,995 |
2015 Business Acquisitions | |
Business Acquisition [Line Items] | |
Condensed Pro forma Financial Information | The following unaudited condensed pro forma financial information for the years ended December 31, 2015 and 2014 , is presented as if the acquisitions had been consummated on January 1, 2014 : Year Ended December 31, 2015 2014 Pro Forma Revenues $ 174,558 $ 73,240 Loss before income taxes (99,751 ) (105,085 ) Net loss (99,594 ) (104,577 ) Net loss attributable to the noncontrolling interests 3,501 3,794 Net loss attributable to Intrexon (96,093 ) (100,783 ) |
2014 Business Acquisitions | |
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 ) |
Collaboration and Licensing R32
Collaboration and Licensing Revenue (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summarized Collaboration and Licensing Revenues | The following tables summarize the amounts recorded as revenue in the consolidated statements of operations for each significant collaboration and licensing agreement for the years ended December 31, 2015 , 2014 and 2013 : Year Ended December 31, 2015 Revenue Recognized From Total Upfront and Milestone Payments Research and Development Services Ares Trading S.A. $ 3,933 $ 795 $ 4,728 ZIOPHARM Oncology, Inc. 2,855 16,451 19,306 Oragenics, Inc. 5,679 856 6,535 Fibrocell Science, Inc. 6,046 6,133 12,179 Genopaver, LLC 273 3,556 3,829 S & I Ophthalmic, LLC — 4,115 4,115 OvaXon, LLC — 2,540 2,540 Intrexon Energy Partners, LLC 2,500 10,947 13,447 Persea Bio, LLC 500 741 1,241 Thrive Agrobiotics, Inc. 46 220 266 Intrexon Energy Partners II, LLC 167 — 167 Other 10,514 8,954 19,468 Total $ 32,513 $ 55,308 $ 87,821 Year Ended December 31, 2014 Revenue Recognized From Total Upfront and Milestone Payments Research and Development Services ZIOPHARM Oncology, Inc. $ 2,577 $ 12,044 $ 14,621 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 2,061 7,179 9,240 Total $ 9,625 $ 35,587 $ 45,212 Year Ended December 31, 2013 Revenue Recognized From Total Upfront and Milestone Payments Research and Development Services ZIOPHARM Oncology, Inc. $ 2,577 $ 7,818 $ 10,395 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 2,520 2,158 4,678 Total $ 6,944 $ 16,581 $ 23,525 |
Summary of Deferred Revenue | Deferred revenue consists of the following: December 31, 2015 2014 Upfront and milestone payments $ 181,331 $ 107,228 Prepaid research and development services 10,938 1,045 Prepaid product and service revenues 4,759 4,365 Other 701 571 Total $ 197,729 $ 113,209 Current portion of deferred revenue 35,366 16,522 Long-term portion of deferred revenue 162,363 96,687 Total $ 197,729 $ 113,209 |
Summary of Deferred Revenue by Collaborator | The following table summarizes the remaining balance of deferred revenue associated with upfront and milestone payments for each significant collaboration and licensing agreement: December 31, 2015 2014 Ares Trading S.A. $ 53,567 $ — ZIOPHARM Oncology, Inc. 30,338 23,193 Oragenics, Inc. 8,813 10,010 Fibrocell Science, Inc. 21,445 17,491 Genopaver, LLC 2,250 2,523 Intrexon Energy Partners, LLC 20,625 23,125 Persea Bio, LLC 4,500 5,000 Thrive Agrobiotics, Inc. 1,621 — Intrexon Energy Partners II, LLC 17,833 — Other 20,339 25,886 Total $ 181,331 $ 107,228 |
Short-term and Long-term Inve33
Short-term and Long-term Investments (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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, 2015 : Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Aggregate Fair Value U.S. government debt securities $ 208,223 $ 21 $ (540 ) $ 207,704 Certificates of deposit 271 — — 271 Total $ 208,494 $ 21 $ (540 ) $ 207,975 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 Cost Gross Unrealized Gains Gross Unrealized Losses Aggregate Fair Value U.S. government debt securities $ 115,293 $ 54 $ (12 ) $ 115,335 Certificates of deposit 273 — — 273 Total $ 115,566 $ 54 $ (12 ) $ 115,608 |
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, 2015 was: Due within one year $ 102,528 After one year through two years 105,447 Total $ 207,975 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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, 2015 : Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, Assets U.S. government debt securities (Note 6) $ — $ 207,704 $ — $ 207,704 Equity securities (Note 5) 65,850 17,803 — 83,653 Other — 405 — 405 $ 65,850 $ 225,912 $ — $ 291,762 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 Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, Assets U.S. government debt securities (Note 6) $ — $ 115,335 $ — $ 115,335 Equity securities (Note 5) 143,927 20,962 — 164,889 Other — 273 — 273 $ 143,927 $ 136,570 $ — $ 280,497 |
Inventory (Tables)
Inventory (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory | Inventory consists of the following: December 31, 2015 2014 Supplies, semen and embryos $ 1,402 $ 1,184 Work in process 6,290 5,637 Livestock 16,907 16,996 Feed 1,964 1,972 Total inventory $ 26,563 $ 25,789 |
Property, Plant and Equipment36
Property, Plant and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | Property, plant and equipment consist of the following: December 31, 2015 2014 Land and land improvements $ 9,119 $ 7,565 Buildings and building improvements 7,520 7,265 Furniture and fixtures 1,283 1,236 Equipment 36,016 31,983 Leasehold improvements 6,888 6,382 Computer hardware and software 5,960 5,060 Construction and other assets in progress 2,193 1,002 68,979 60,493 Less: Accumulated depreciation and amortization (26,240 ) (22,493 ) Property, plant and equipment, net $ 42,739 $ 38,000 |
Goodwill and Intangible Asset37
Goodwill and Intangible Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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, 2015 and 2014 , are as follows: Balance as of December 31, 2013 $ 13,823 Acquisitions 87,236 Balance as of December 31, 2014 101,059 Acquisitions 67,403 Foreign currency translation adjustment (3,293 ) Balance as of December 31, 2015 $ 165,169 |
Schedule of Intangible Assets | Intangible assets consist of the following at December 31, 2015 : Weighted Average Useful Life (Years) Gross Carrying Amount Accumulated Amortization Net Patents, related technologies and know-how 14.9 $ 157,411 $ (17,775 ) $ 139,636 Customer relationships 6.5 10,700 (2,739 ) 7,961 Trademarks 9.3 6,800 (1,018 ) 5,782 Covenant not to compete 2.0 384 (160 ) 224 In-process research and development 93,932 — 93,932 Total $ 269,227 $ (21,692 ) $ 247,535 Intangible assets consist of the following at December 31, 2014 : Gross Carrying Amount Accumulated Amortization Net 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 |
Lines of Credit and Long Term38
Lines of Credit and Long Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Long Term Debt Instruments | Long term debt consists of the following: December 31, 2015 2014 Notes payable $ 6,477 $ 7,653 Royalty-based financing 1,807 1,926 Other 244 790 Long term debt 8,528 10,369 Less current portion 930 1,675 Long term debt, less current portion $ 7,598 $ 8,694 |
Schedule of Maturities of Long Term Debt | Future maturities of long term debt are as follows: 2016 $ 930 2017 383 2018 526 2019 341 2020 311 Thereafter 4,230 Total $ 6,721 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Components of Loss Before Income Taxes | The components of loss before income taxes are presented below: Year Ended December 31, 2015 2014 2013 Domestic $ (69,287 ) $ (83,256 ) $ (39,250 ) Foreign (17,691 ) (2,463 ) (1,658 ) Loss before income taxes $ (86,978 ) $ (85,719 ) $ (40,908 ) |
Components of Income Tax Expense (Benefit) | The components of income tax expense (benefit) are presented below: Year Ended December 31, 2015 2014 2013 U.S. federal income taxes: Current $ 22 $ — $ — Deferred 1,732 — — Foreign income taxes: Current (123 ) (103 ) — Deferred (1,003 ) — — State income taxes: Deferred 388 — — Income tax expense (benefit) $ 1,016 $ (103 ) $ — |
Schedule of Effective Income Tax Rate Reconciliation | Income tax expense (benefit) for the years ended December 31, 2015 , 2014 and 2013 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: 2015 2014 2013 Computed statutory income tax benefit $ (29,573 ) $ (29,144 ) $ (13,909 ) State and provincial income tax benefit, net of federal income taxes (3,157 ) (3,544 ) (1,834 ) Nondeductible stock based compensation 3,182 1,386 575 Nondeductible officer compensation 2,433 — — Contribution of services by shareholder — 677 527 Gain on previously held equity investment — — (2,477 ) Research and development tax incentives (348 ) 258 (1,203 ) Acquisition-related transaction costs 883 — — Enacted change in tax rates (961 ) — — U.S.-foreign rate differential 620 — — Other, net (98 ) 1,503 1,317 (27,019 ) (28,864 ) (17,004 ) Change in valuation allowance for deferred tax assets 28,035 28,761 17,004 Total income tax expense (benefit) $ 1,016 $ (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, 2015 and 2014 , are as follows: 2015 2014 Deferred tax assets Allowance for doubtful accounts $ 1,056 $ 783 Inventory 967 — Equity securities and investments in affiliates 10,413 4,694 Property, plant and equipment — 79 Accrued liabilities and long-term debt 4,585 2,703 Stock-based compensation 7,223 8,283 Deferred revenue 31,637 43,774 Research and development tax credits 9,113 9,661 Net operating loss carryforwards 135,633 103,114 Total deferred tax assets 200,627 173,091 Less: Valuation allowance 190,174 161,660 Net deferred tax assets 10,453 11,431 Deferred tax liabilities Property, plant and equipment 160 — Intangible assets 32,095 11,431 Total deferred tax liabilities 32,255 11,431 Net deferred tax assets (liabilities) $ (21,802 ) $ — |
Summary of Valuation Allowance | Activity within the valuation allowance for deferred tax assets during the years ended December 31, 2015 , 2014 and 2013 was as follows: 2015 2014 2013 Valuation allowance at beginning of year $ 161,660 $ 131,985 $ 113,051 Increase (decrease) in valuation allowance as a result of Mergers and acquisitions, net 1,228 914 1,930 Current year operations 28,035 28,761 17,004 Foreign currency translation adjustment (749 ) — — Valuation allowance at end of year $ 190,174 $ 161,660 $ 131,985 |
Redeemable Convertible Prefer40
Redeemable Convertible Preferred Stock and Shareholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Summary of Redeemable Convertible Preferred Stock | The tables below represent a rollforward of the Redeemable Convertible Preferred Stock: Series A Redeemable Convertible Preferred Stock Series B Redeemable Convertible Preferred Stock Series B-1 Redeemable Convertible Preferred Stock Shares Amount Shares Amount Shares Amount 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 Redeemable Convertible Preferred Stock Series C-1 Redeemable Convertible Preferred Stock Series C-2 Redeemable Convertible Preferred Stock Shares Amount Shares Amount Shares Amount 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 Redeemable Convertible Preferred Stock Series D Redeemable Convertible Preferred Stock Series E Redeemable Convertible Preferred Stock Shares Amount Shares Amount Shares Amount 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 — $ — |
Schedule of Accumulated Other Comprehensive Loss | The components of accumulated other comprehensive loss are as follows: December 31, 2015 2014 Unrealized gain (loss) on investments $ (519 ) $ 42 Foreign currency translation adjustments (12,233 ) (46 ) Total accumulated other comprehensive loss $ (12,752 ) $ (4 ) |
Share-Based Payments (Tables)
Share-Based Payments (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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, 2015 2014 2013 Cost of products $ 95 $ 14 $ — Cost of services 354 142 — Research and development 8,614 4,817 514 Selling, general and administrative 29,604 16,876 2,407 Total $ 38,667 $ 21,849 $ 2,921 |
Schedule of Stock Option Activity | Stock option activity under Intrexon's award plans was as follows for the periods presented: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Balances at December 31, 2012 2,313,526 $ 5.90 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 Granted 5,051,500 45.82 Adjustment due to dividend (Note 13) 312,795 25.40 Exercised (1,029,291 ) (15.16 ) Forfeited (1,610,335 ) (26.75 ) Expired (4,685 ) (28.29 ) Balances at December 31, 2015 11,043,528 32.66 8.49 Exercisable at December 31, 2015 2,494,426 18.31 6.82 Vested and Expected to Vest at December 31, 2015(1) 9,235,535 31.52 8.13 (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, 2015 : Options Outstanding Options Exercisable Range of Exercise Prices Number of Options Weighted Average Exercise Price Weighted Average Remaining Life (Years) Aggregate Intrinsic Value Number of Options Weighted Average Exercise Price Weighted Average Remaining Life (Years) Aggregate Intrinsic Value $ 0.38 — $ 9.34 1,261,192 $ 6.40 5.40 $ 29,956 1,147,978 $ 6.19 5.25 $ 27,507 $ 15.21 — $ 28.93 2,682,516 24.25 8.43 15,831 602,023 24.43 8.36 3,445 $ 29.14 — $ 29.68 2,895,885 29.63 8.44 1,508 635,743 29.68 7.99 299 $ 30.10 — $ 56.77 3,118,935 44.48 9.46 — 108,682 45.87 8.02 — $ 57.95 — $ 65.34 1,085,000 58.07 9.55 — — — — — 11,043,528 $ 32.66 8.49 $ 47,295 2,494,426 $ 18.31 6.82 $ 31,251 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 Options Weighted Average Exercise Price Weighted Average Remaining Life (Years) Aggregate Intrinsic Value Number of Options Weighted Average Exercise Price Weighted Average Remaining Life (Years) Aggregate Intrinsic Value $ 0.39 — $ 9.67 1,747,494 $ 6.49 6.25 $ 36,772 1,293,184 $ 6.07 5.90 $ 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 — — — — — $ 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 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Future Minimum Lease Payments Under Noncancelable Operating Leases | At December 31, 2015 , future minimum lease payments under operating leases having initial or remaining noncancelable lease terms in excess of one year are as follows: 2016 $ 4,136 2017 3,837 2018 2,317 2019 2,129 2020 2,182 Thereafter 1,606 $ 16,207 |
Net Loss per Share (Tables)
Net Loss per Share (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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: 2015 2014 2013 Historical net loss per share: Numerator: Net loss attributable to Intrexon $ (84,493 ) $ (81,822 ) $ (38,980 ) Add: Accretion of dividends on redeemable convertible preferred stock — — (18,391 ) Net loss attributable to common shareholders $ (84,493 ) $ (81,822 ) $ (57,371 ) Denominator: Weighted average shares outstanding, basic and diluted 111,066,352 99,170,653 40,951,952 Net loss attributable to common shareholders per share, basic and diluted $ (0.76 ) $ (0.83 ) $ (1.40 ) |
Potentially Dilutive Securities Excluded from Calculation of Net Loss per Share | The following potentially dilutive securities as of December 31, 2015 , 2014 , and 2013 , 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, 2015 2014 2013 Options 11,043,528 8,323,544 2,840,648 Warrants 194,719 352,483 414,404 Total 11,238,247 8,676,027 3,255,052 |
Quarterly Financial Informati44
Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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, Total revenues $ 33,849 $ 44,891 $ 53,367 $ 41,498 Operating loss (87,123 ) (17,430 ) (7,916 ) (34,395 ) Net income (loss) 25,804 (41,494 ) (39,029 ) (33,275 ) Net income (loss) attributable to Intrexon 27,097 (40,663 ) (38,213 ) (32,714 ) Net income (loss) attributable to common shareholders per share, basic $ 0.26 $ (0.37 ) $ (0.34 ) $ (0.28 ) Net income (loss) attributable to common shareholders per share, diluted 0.25 (0.37 ) (0.34 ) (0.28 ) Three Months Ended March 31, June 30, September 30, December 31, 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 |
Organization and Basis of Pre45
Organization and Basis of Presentation - Additional Information (Detail) - shares | Aug. 13, 2013 | Dec. 31, 2015 |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Conversion of redeemable convertible preferred stock, including accrued dividends, to common stock, shares | 79,705,130 | |
AquaBounty Technologies, Inc. | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Parent ownership interest | 63.00% | |
Biological & Popular Culture, Inc. | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Parent ownership interest | 51.00% |
Summary of Significant Accoun46
Summary of Significant Accounting Policies - Additional Information (Detail) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
Mar. 31, 2013USD ($) | Dec. 31, 2015USD ($)entity | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2014USD ($)entity | Sep. 30, 2014USD ($) | Jun. 30, 2014USD ($) | Mar. 31, 2014USD ($) | Dec. 31, 2015USD ($)segmententity | Dec. 31, 2014USD ($)entity | Dec. 31, 2013USD ($) | |
Organization And Significant Accounting Policies [Line Items] | ||||||||||||
Research and development commitments with third parties not incurred | $ 4,138,000 | $ 2,183,000 | $ 4,138,000 | $ 2,183,000 | ||||||||
Maturity period of highly liquid investment | 3 months | |||||||||||
Cash equivalent investments in highly liquid money market accounts | $ 112,776,000 | $ 16,598,000 | $ 112,776,000 | 16,598,000 | ||||||||
Gain on previously held equity investment | $ 0 | $ 0 | $ 7,415,000 | |||||||||
Number of joint ventures | entity | 4 | 4 | ||||||||||
Number of collaborators over which the Company has significant influence, equity method investments | entity | 1 | 2 | 1 | 2 | ||||||||
Fair value of financial assets measured at fair value on a recurring basis | $ 291,762,000 | $ 280,497,000 | $ 291,762,000 | $ 280,497,000 | ||||||||
Unrealized and realized appreciation (depreciation) in fair value of equity securities | 66,876,000 | (10,469,000) | 10,443,000 | |||||||||
Maximum risk of loss related to the identified VIEs | 3,598,000 | 0 | $ 3,598,000 | 0 | ||||||||
Number of segments | segment | 1 | |||||||||||
Property, plant and equipment, net | 42,739,000 | 38,000,000 | $ 42,739,000 | 38,000,000 | ||||||||
Revenues | $ 41,498,000 | $ 53,367,000 | $ 44,891,000 | $ 33,849,000 | $ 31,092,000 | $ 21,197,000 | $ 11,787,000 | $ 7,854,000 | 173,605,000 | $ 71,930,000 | 23,760,000 | |
ZIOPHARM Oncology, Inc. | ||||||||||||
Organization And Significant Accounting Policies [Line Items] | ||||||||||||
Company's ownership percentage | 15.70% | 15.70% | ||||||||||
Realized investment gain | $ 81,401,000 | |||||||||||
Oragenics, Inc. | ||||||||||||
Organization And Significant Accounting Policies [Line Items] | ||||||||||||
Company's ownership percentage | 30.70% | 24.40% | 30.70% | 24.40% | ||||||||
Equity securities | ||||||||||||
Organization And Significant Accounting Policies [Line Items] | ||||||||||||
Fair value of financial assets measured at fair value on a recurring basis | $ 83,653,000 | $ 164,889,000 | $ 83,653,000 | $ 164,889,000 | ||||||||
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 | 83,099,000 | 83,099,000 | ||||||||||
Unrealized and realized appreciation (depreciation) in fair value of equity securities | 11,965,000 | 4,836,000 | ||||||||||
Equity securities | Oragenics, Inc. | ||||||||||||
Organization And Significant Accounting Policies [Line Items] | ||||||||||||
Fair value of financial assets measured at fair value on a recurring basis | 16,601,000 | 7,192,000 | 16,601,000 | 7,192,000 | ||||||||
Unrealized and realized appreciation (depreciation) in fair value of equity securities | 4,863,000 | (14,969,000) | $ (90,000) | |||||||||
Foreign Countries | ||||||||||||
Organization And Significant Accounting Policies [Line Items] | ||||||||||||
Property, plant and equipment, net | $ 3,877,000 | $ 2,200,000 | 3,877,000 | 2,200,000 | ||||||||
Revenues | $ 5,918,000 | $ 2,166,000 | ||||||||||
Minimum | ||||||||||||
Organization And Significant Accounting Policies [Line Items] | ||||||||||||
Expected useful life of intangible asset | 2 years | |||||||||||
Maximum | ||||||||||||
Organization And Significant Accounting Policies [Line Items] | ||||||||||||
Expected useful life of intangible asset | 18 years | |||||||||||
AquaBounty Technologies, Inc. | ||||||||||||
Organization And Significant Accounting Policies [Line Items] | ||||||||||||
Gain on previously held equity investment | $ 7,415,000 | |||||||||||
Intrexon Stock Option Plans | ||||||||||||
Organization And Significant Accounting Policies [Line Items] | ||||||||||||
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Summary of Significant Accoun47
Summary of Significant Accounting Policies - Summarized Financial Data of Equity Method Investments (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Schedule of Equity Method Investments [Line Items] | |||||||||||
Operating expenses | $ 320,469 | $ 141,892 | $ 81,783 | ||||||||
Operating loss | $ (34,395) | $ (7,916) | $ (17,430) | $ (87,123) | $ (18,961) | $ (15,047) | $ (18,082) | $ (17,872) | (146,864) | (69,962) | (58,023) |
Other | 68,830 | (10,497) | 17,721 | ||||||||
Equity Method Investments | |||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||
Current assets | 28,123 | 63,627 | 28,123 | 63,627 | |||||||
Non-current assets | 1,539 | 1,259 | 1,539 | 1,259 | |||||||
Total assets | 29,662 | 64,886 | 29,662 | 64,886 | |||||||
Current liabilities | 6,274 | 15,346 | 6,274 | 15,346 | |||||||
Non-current liabilities | 0 | 570 | 0 | 570 | |||||||
Total liabilities | 6,274 | 15,916 | 6,274 | 15,916 | |||||||
Net assets | $ 23,388 | $ 48,970 | 23,388 | 48,970 | |||||||
Revenues, net | 1,720 | 2,313 | 1,832 | ||||||||
Operating expenses | 123,842 | 62,161 | 77,011 | ||||||||
Operating loss | (122,122) | (59,848) | (75,179) | ||||||||
Other | (54) | 11,753 | 743 | ||||||||
Net loss | $ (122,176) | $ (48,095) | $ (74,436) |
Summary of Significant Accoun48
Summary of Significant Accounting Policies - Rollforward of Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Allowance for Doubtful Accounts | |||
Beginning balance | $ 565 | $ 0 | |
Charged to operating expenses | 1,757 | 565 | $ 0 |
Write offs of accounts receivable | (241) | 0 | |
Ending balance | $ 2,081 | $ 565 | $ 0 |
Summary of Significant Accoun49
Summary of Significant Accounting Policies - Estimated Useful Lives of Property, Plant and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2015 | |
Minimum | Land Improvements | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment, useful life | 4 years |
Minimum | Building and building improvements | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment, useful life | 3 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 | Computer hardware and software | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment, useful life | 1 year |
Minimum | Leasehold Improvements | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment, useful life | 1 year |
Maximum | Land Improvements | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment, useful life | 20 years |
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 | 10 years |
Maximum | Equipment | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment, useful life | 10 years |
Maximum | Computer hardware and software | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment, useful life | 7 years |
Maximum | Leasehold Improvements | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment, useful life | 14 years |
Summary of Significant Accoun50
Summary of Significant Accounting Policies - Summary of Assumptions Used in Pricing Model (Details) - Intrexon Stock Option Plans | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Expected volatility, minimum | 59.00% | 62.00% | 73.00% |
Expected volatility, maximum | 62.00% | 64.00% | 75.00% |
Expected term (years) | 6 years 3 months | 6 years 3 months | 6 years 3 months |
Risk-free interest rate, minimum | 1.56% | 1.82% | 0.96% |
Risk-free interest rate, maximum | 1.95% | 2.14% | 1.86% |
Mergers and Acquisitions - Oxit
Mergers and Acquisitions - Oxitec - Fair Value of Consideration Transferred (Details) - Oxitec Limited $ in Thousands | 1 Months Ended |
Sep. 30, 2015USD ($) | |
Business Acquisition [Line Items] | |
Cash | $ 90,199 |
Common shares | 56,195 |
Total consideration transferred | $ 146,394 |
Mergers and Acquisitions - Ox52
Mergers and Acquisitions - Oxitec - Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 165,169 | $ 101,059 | $ 13,823 | |
Oxitec Limited | ||||
Business Acquisition [Line Items] | ||||
Cash | $ 3,780 | |||
Trade receivables | 125 | |||
Other receivables | 7,395 | |||
Prepaid expenses and other | 121 | |||
Property, plant and equipment | 1,198 | |||
Intangible assets | 96,854 | |||
Total assets acquired | 109,473 | |||
Accounts payable | 1,187 | |||
Accrued compensation and benefits | 246 | |||
Other accrued liabilities | 210 | |||
Deferred revenue | 120 | |||
Deferred tax liabilities | 12,584 | |||
Total liabilities assumed | 14,347 | |||
Net assets acquired | 95,126 | |||
Goodwill | 51,268 | |||
Total consideration and fair value of noncontrolling interest | $ 146,394 |
Mergers and Acquisitions - Ox53
Mergers and Acquisitions - Oxitec - Additional Information (Details) - Oxitec Limited - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2015 | |
Business Acquisition [Line Items] | ||
Percentage of outstanding common stock acquired | 100.00% | |
Business combination, consideration paid, shares issued | 1,359,343 | |
Cash | $ 90,199 | |
Business combination, consideration transferred, cash and working capital adjustments | $ 9,449 | |
Business combination, equity interest issued or issuable, number of shares withheld as escrow | 480,422 | |
Business combination, cash consideration withheld as escrow | $ 1,991 | |
Business combination, consideration withheld as escrow, transfer period after closing | 18 months | |
Selling, general and administrative | ||
Business Acquisition [Line Items] | ||
Business combination, acquisition related cost | $ 1,675 |
Mergers and Acquisitions - Okan
Mergers and Acquisitions - Okanagan - Fair Value of Consideration Transferred (Details) - Okanagan Specialty Fruits Inc. $ in Thousands | 1 Months Ended |
Apr. 30, 2015USD ($) | |
Business Acquisition [Line Items] | |
Cash | $ 10,000 |
Common shares | 30,933 |
Total consideration transferred | $ 40,933 |
Mergers and Acquisitions - Ok55
Mergers and Acquisitions - Okanagan - Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | 8 Months Ended | |||
Dec. 31, 2015 | Apr. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Business Acquisition [Line Items] | ||||
Goodwill | $ 165,169 | $ 101,059 | $ 13,823 | |
Okanagan Specialty Fruits Inc. | ||||
Business Acquisition [Line Items] | ||||
Cash | 58 | $ 58 | ||
Trade receivables | 16 | 16 | ||
Other receivables | 49 | 49 | ||
Property, plant and equipment | 32 | 32 | ||
Intangible assets | 36,500 | 33,800 | ||
Total assets acquired | 36,655 | 33,955 | ||
Accounts payable | 181 | 181 | ||
Deferred revenue | 181 | 181 | ||
Deferred tax liabilities | 8,847 | 8,145 | ||
Total liabilities assumed | 9,209 | 8,507 | ||
Net assets acquired | 27,446 | 25,448 | ||
Goodwill | 13,487 | 15,485 | ||
Total consideration and fair value of noncontrolling interest | 40,933 | $ 40,933 | ||
Intangibles, measurement period adjustment | 2,700 | |||
Total assets acquired, measurement period adjustment | 2,700 | |||
Deferred tax liabilities, measurement period adjustment | 702 | |||
Total liabilities assumed, measurement period adjustment | 702 | |||
Net assets acquired, measurement period adjustment | 1,998 | |||
Goodwill, measurement period adjustment | (1,998) | |||
Total consideration, measurement period adjustment | $ 0 |
Mergers and Acquisitions - Ok56
Mergers and Acquisitions - Okanagan - Additional Information (Details) - Okanagan Specialty Fruits Inc. - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |
Apr. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Business Acquisition [Line Items] | |||
Percentage of outstanding common stock acquired | 100.00% | ||
Business combination, consideration paid, shares issued | 707,853 | ||
Cash | $ 10,000 | ||
Expected useful life of intangible asset | 14 years | ||
Business combination, acquisition related cost | $ 341 | ||
Selling, general and administrative | |||
Business Acquisition [Line Items] | |||
Business combination, acquisition related cost | $ 267 | $ 74 |
Mergers and Acquisitions - Acto
Mergers and Acquisitions - ActoGeniX - Fair Value of Consideration Transferred (Details) - ActoGeniX NV $ in Thousands | 1 Months Ended |
Feb. 28, 2015USD ($) | |
Business Acquisition [Line Items] | |
Cash | $ 32,739 |
Common shares | 39,735 |
Total consideration transferred | $ 72,474 |
Mergers and Acquisitions - Ac58
Mergers and Acquisitions - ActoGeniX - Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | 10 Months Ended | |||
Dec. 31, 2015 | Feb. 28, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Business Acquisition [Line Items] | ||||
Goodwill | $ 165,169 | $ 101,059 | $ 13,823 | |
ActoGeniX NV | ||||
Business Acquisition [Line Items] | ||||
Cash | 3,180 | $ 3,180 | ||
Other receivables | 305 | 305 | ||
Prepaid expenses and other | 31 | 31 | ||
Property, plant and equipment | 209 | 209 | ||
Intangible assets | 68,100 | 68,100 | ||
Other non-current assets | 23 | 23 | ||
Total assets acquired | 71,848 | 71,848 | ||
Accounts payable | 230 | 230 | ||
Accrued compensation and benefits | 196 | 624 | ||
Other accrued liabilities | 253 | 307 | ||
Deferred revenue | 732 | 732 | ||
Deferred tax liabilities | 612 | 612 | ||
Total liabilities assumed | 2,023 | 2,505 | ||
Net assets acquired | 69,825 | 69,343 | ||
Goodwill | 2,649 | 3,131 | ||
Total consideration and fair value of noncontrolling interest | 72,474 | $ 72,474 | ||
Accrued compensation and benefits, measurement period adjustment | (428) | |||
Other accrued liabilities, measurement period adjustment | (54) | |||
Total liabilities assumed, measurement period adjustment | (482) | |||
Net assets acquired, measurement period adjustment | 482 | |||
Goodwill, measurement period adjustment | (482) | |||
Total consideration, measurement period adjustment | $ 0 |
Mergers and Acquisitions - Ac59
Mergers and Acquisitions - ActoGeniX - Additional Information (Details) - ActoGeniX NV - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Aug. 31, 2015 | Feb. 28, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Business Acquisition [Line Items] | ||||
Percentage of outstanding common stock acquired | 100.00% | |||
Business combination, consideration paid, shares issued | 965,377 | |||
Cash | $ 32,739 | |||
Expected useful life of intangible asset | 18 years | |||
Business combination, acquisition related cost | $ 418 | |||
Selling, general and administrative | ||||
Business Acquisition [Line Items] | ||||
Business combination, acquisition related cost | $ 381 | $ 37 |
Mergers and Acquisitions - Tran
Mergers and Acquisitions - Trans Ova - Fair Value of Consideration Transferred (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Aug. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Business Acquisition [Line Items] | ||||
Deferred cash consideration | $ 1,992 | $ 20,115 | $ 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 - Tr61
Mergers and Acquisitions - Trans Ova - Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Aug. 31, 2014 | Dec. 31, 2013 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 165,169 | $ 101,059 | $ 13,823 | |
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 |
Mergers and Acquisitions - Tr62
Mergers and Acquisitions - Trans Ova - Additional Information (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||
Feb. 28, 2015 | Aug. 31, 2014 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Business Acquisition [Line Items] | |||||||||||||
Deferred cash consideration | $ 1,992,000 | $ 20,115,000 | $ 0 | ||||||||||
Revenues | $ 41,498,000 | $ 53,367,000 | $ 44,891,000 | $ 33,849,000 | $ 31,092,000 | $ 21,197,000 | $ 11,787,000 | $ 7,854,000 | 173,605,000 | 71,930,000 | 23,760,000 | ||
Net income (loss) | (33,275,000) | $ (39,029,000) | $ (41,494,000) | $ 25,804,000 | $ 17,932,000 | $ (53,862,000) | $ (52,935,000) | $ 3,249,000 | (87,994,000) | (85,616,000) | $ (40,908,000) | ||
Trans Ova Genetics, LC | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Percentage of outstanding common stock acquired | 100.00% | ||||||||||||
Business combination, consideration paid, shares issued | 1,444,388 | ||||||||||||
Cash | $ 63,625,000 | ||||||||||||
Deferred cash consideration | $ 20,115,000 | ||||||||||||
Revenues | 26,352,000 | ||||||||||||
Net income (loss) | 2,000 | ||||||||||||
Future contingent payments based on revenue targets | 5,000,000 | 5,000,000 | |||||||||||
Current contingent consideration liability | $ 0 | $ 0 | |||||||||||
Exemplar Genetics, LLC | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Cash paid to acquire minority interest | $ 1,566,000 | ||||||||||||
Shares issued to acquire minority interest | 307,074 | ||||||||||||
Minimum | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Expected useful life of intangible asset | 2 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 | 18 years | ||||||||||||
Maximum | Trans Ova Genetics, LC | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Expected useful life of intangible asset | 9 years | ||||||||||||
Selling, general and administrative | Trans Ova Genetics, LC | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Business combination, acquisition related cost | $ 713,000 |
Mergers and Acquisitions - Medi
Mergers and Acquisitions - Medistem - Fair Value of Consideration Transferred (Details) - Medistem, Inc. $ in Thousands | 1 Months Ended |
Mar. 31, 2014USD ($) | |
Business Acquisition [Line Items] | |
Cash | $ 4,920 |
Common shares | 19,368 |
Total consideration transferred | 24,995 |
Settlement of promissory notes | |
Business Acquisition [Line Items] | |
Total consideration transferred | $ 707 |
Mergers and Acquisitions - Me64
Mergers and Acquisitions - Medistem - Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 165,169 | $ 101,059 | $ 13,823 | |
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 liabilities | 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 - Me65
Mergers and Acquisitions - Medistem - Additional Information (Details) - Medistem, Inc. $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Mar. 31, 2014USD ($)noteshares | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Business Acquisition [Line Items] | ||||
Percentage of outstanding common stock acquired | 100.00% | |||
Business combination, consideration paid, shares issued | shares | 714,144 | |||
Cash | $ 4,920 | |||
Number of promissory notes settled | note | 2 | |||
Total consideration transferred | $ 24,995 | |||
Shares surrendered to pay withholding taxes shares | 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] | ||||
Total consideration transferred | $ 707 |
Mergers and Acquisitions - 2015
Mergers and Acquisitions - 2015 Acquisitions - Pro Forma Financial Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | |||||||||||
Loss before income taxes | $ (86,978) | $ (85,719) | $ (40,908) | ||||||||
Net loss | $ (33,275) | $ (39,029) | $ (41,494) | $ 25,804 | $ 17,932 | $ (53,862) | $ (52,935) | $ 3,249 | (87,994) | (85,616) | (40,908) |
Net loss attributable to the noncontrolling interests | 3,501 | 3,794 | $ 1,928 | ||||||||
2015 Business Acquisitions | Pro Forma | |||||||||||
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | |||||||||||
Revenues | 174,558 | 73,240 | |||||||||
Loss before income taxes | (99,751) | (105,085) | |||||||||
Net loss | (99,594) | (104,577) | |||||||||
Net loss attributable to the noncontrolling interests | 3,501 | 3,794 | |||||||||
Net loss attributable to Intrexon | $ (96,093) | $ (100,783) |
Mergers and Acquisitions - 2014
Mergers and Acquisitions - 2014 Acquisitions - Pro Forma Financial Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Business Acquisition [Line Items] | |||||||||||
Loss before income taxes | $ (86,978) | $ (85,719) | $ (40,908) | ||||||||
Net loss | $ (33,275) | $ (39,029) | $ (41,494) | $ 25,804 | $ 17,932 | $ (53,862) | $ (52,935) | $ 3,249 | (87,994) | (85,616) | (40,908) |
Net loss attributable to the noncontrolling interests | 3,501 | 3,794 | 1,928 | ||||||||
Accretion of dividends on redeemable convertible preferred stock | 0 | 0 | (18,391) | ||||||||
Net loss attributable to common shareholders | $ (84,493) | (81,822) | (57,371) | ||||||||
Pro Forma | 2014 Business Acquisitions | |||||||||||
Business Acquisition [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) |
Investments in Joint Ventures -
Investments in Joint Ventures - Investments in Intrexon Energy Partners II - Additional Information (Details) | 1 Months Ended | |
Dec. 31, 2015USD ($)board_seat | Dec. 31, 2014USD ($) | |
Schedule Of Investments In Joint Venture [Line Items] | ||
Investment | $ 9,977,000 | $ 3,220,000 |
Intrexon Energy Partners II, LLC | ||
Schedule Of Investments In Joint Venture [Line Items] | ||
Membership interest | 50.00% | |
Joint venture additional capital contributions committed (up to) | $ 10,000,000 | |
Number of board members designated by the Company | board_seat | 1 | |
Number of board members not designated by the Company | board_seat | 4 | |
Investment | $ 2,000,000 | |
Intrexon Energy Partners II, LLC | Upfront and Milestone Payments | Upfront | ||
Schedule Of Investments In Joint Venture [Line Items] | ||
Collaborative agreement, consideration received, value | $ 18,000,000 | |
Investor | Intrexon Energy Partners II, LLC | ||
Schedule Of Investments In Joint Venture [Line Items] | ||
Membership interest | 50.00% | |
Capital contribution | $ 18,000,000 | |
Capital contribution reserved to fund initial operations | 4,000,000 | |
Joint venture additional capital contributions committed (up to) | $ 10,000,000 |
Investments in Joint Ventures69
Investments in Joint Ventures - Investment in Intrexon Energy Partners - Additional Information (Details) | 1 Months Ended | ||
Mar. 31, 2014USD ($) | Dec. 31, 2015USD ($)board_seat | Dec. 31, 2014USD ($) | |
Schedule Of Investments In Joint Venture [Line Items] | |||
Investment | $ 9,977,000 | $ 3,220,000 | |
Intrexon Energy Partners, LLC | |||
Schedule Of Investments In Joint Venture [Line Items] | |||
Membership interest | 50.00% | ||
Joint venture additional capital contributions committed (up to) | $ 25,000,000 | ||
Joint venture additional capital contributions committed, remaining commitment | $ 18,682,000 | ||
Number of board members designated by the Company | board_seat | 2 | ||
Number of board members not designated by the Company | board_seat | 3 | ||
Investment | $ (1,270,000) | $ (740,000) | |
Investor | Intrexon Energy Partners, LLC | |||
Schedule Of Investments In Joint Venture [Line Items] | |||
Membership interest | 50.00% | ||
Capital contribution | $ 25,000,000 | ||
Joint venture additional capital contributions committed (up to) | 25,000,000 | ||
Upfront and Milestone Payments | Upfront | Intrexon Energy Partners, LLC | |||
Schedule Of Investments In Joint Venture [Line Items] | |||
Collaborative agreement, consideration received, value | $ 25,000,000 |
Investments in Joint Ventures70
Investments in Joint Ventures - Investment in OvaXon - Additional Information (Detail) | 1 Months Ended | ||
Jan. 31, 2014USD ($) | Dec. 31, 2015USD ($)board_seat | Dec. 31, 2014USD ($) | |
Schedule Of Investments In Joint Venture [Line Items] | |||
Investment | $ 9,977,000 | $ 3,220,000 | |
OvaXon, LLC | |||
Schedule Of Investments In Joint Venture [Line Items] | |||
Capital contribution | $ 1,500,000 | ||
Membership interest | 50.00% | ||
Number of board members designated by the Company | board_seat | 2 | ||
Number of board members not designated by the Company | board_seat | 2 | ||
Investment | $ (144,000) | $ (83,000) | |
OvaXon, LLC | Investor | |||
Schedule Of Investments In Joint Venture [Line Items] | |||
Capital contribution | $ 1,500,000 | ||
Membership interest | 50.00% |
Investments in Joint Ventures71
Investments in Joint Ventures - Investment in S & I Ophthalmic - Additional Information (Detail) | 1 Months Ended | 28 Months Ended | |
Oct. 31, 2013USD ($) | Dec. 31, 2015USD ($)board_seat | Dec. 31, 2014USD ($) | |
Schedule Of Investments In Joint Venture [Line Items] | |||
Investment | $ 9,977,000 | $ 3,220,000 | |
S & I Ophthalmic, LLC | |||
Schedule Of Investments In Joint Venture [Line Items] | |||
Capital contribution | $ 5,000,000 | $ 5,000,000 | |
Membership interest | 50.00% | ||
Number of board members designated by the Company | board_seat | 2 | ||
Number of board members not designated by the Company | board_seat | 2 | ||
Investment | $ 6,379,000 | $ 3,220,000 | |
Investor | S & I Ophthalmic, LLC | |||
Schedule Of Investments In Joint Venture [Line Items] | |||
Capital contribution | $ 5,000,000 | $ 5,000,000 | |
Membership interest | 50.00% |
Collaboration and Licensing R72
Collaboration and Licensing Revenue - Summarized Collaboration and Licensing Revenues (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | $ 87,821 | $ 45,212 | $ 23,525 |
Ares Trading S.A. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 4,728 | ||
ZIOPHARM Oncology, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 19,306 | 14,621 | 10,395 |
Oragenics, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 6,535 | 1,643 | 2,190 |
Fibrocell Science, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 12,179 | 6,192 | 4,706 |
Genopaver, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 3,829 | 1,783 | 1,139 |
S & I Ophthalmic, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 4,115 | 2,832 | 417 |
OvaXon, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 2,540 | 2,799 | |
Intrexon Energy Partners, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 13,447 | 6,102 | |
Persea Bio, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 1,241 | ||
Thrive Agrobiotics, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 266 | ||
Intrexon Energy Partners II, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 167 | ||
Other | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 19,468 | 9,240 | 4,678 |
Upfront and Milestone Payments | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 32,513 | 9,625 | 6,944 |
Upfront and Milestone Payments | Ares Trading S.A. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 3,933 | ||
Upfront and Milestone Payments | ZIOPHARM Oncology, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 2,855 | 2,577 | 2,577 |
Upfront and Milestone Payments | Oragenics, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 5,679 | 1,045 | 673 |
Upfront and Milestone Payments | Fibrocell Science, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 6,046 | 1,794 | 970 |
Upfront and Milestone Payments | Genopaver, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 273 | 273 | 204 |
Upfront and Milestone Payments | S & I Ophthalmic, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 0 | 0 | 0 |
Upfront and Milestone Payments | OvaXon, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 0 | 0 | |
Upfront and Milestone Payments | Intrexon Energy Partners, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 2,500 | 1,875 | |
Upfront and Milestone Payments | Persea Bio, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 500 | ||
Upfront and Milestone Payments | Thrive Agrobiotics, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 46 | ||
Upfront and Milestone Payments | Intrexon Energy Partners II, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 167 | ||
Upfront and Milestone Payments | Other | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 10,514 | 2,061 | 2,520 |
Research and Development Services | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 55,308 | 35,587 | 16,581 |
Research and Development Services | Ares Trading S.A. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 795 | ||
Research and Development Services | ZIOPHARM Oncology, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 16,451 | 12,044 | 7,818 |
Research and Development Services | Oragenics, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 856 | 598 | 1,517 |
Research and Development Services | Fibrocell Science, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 6,133 | 4,398 | 3,736 |
Research and Development Services | Genopaver, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 3,556 | 1,510 | 935 |
Research and Development Services | S & I Ophthalmic, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 4,115 | 2,832 | 417 |
Research and Development Services | OvaXon, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 2,540 | 2,799 | |
Research and Development Services | Intrexon Energy Partners, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 10,947 | 4,227 | |
Research and Development Services | Persea Bio, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 741 | ||
Research and Development Services | Thrive Agrobiotics, Inc. | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 220 | ||
Research and Development Services | Intrexon Energy Partners II, LLC | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | 0 | ||
Research and Development Services | Other | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaboration and licensing revenues | $ 8,954 | $ 7,179 | $ 2,158 |
Collaboration and Licensing R73
Collaboration and Licensing Revenue - Summary of Deferred Revenue (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred Revenue Arrangement [Line Items] | ||
Current portion of deferred revenue | $ 35,366 | $ 16,522 |
Long-term portion of deferred revenue | 162,363 | 96,687 |
Deferred revenue | 197,729 | 113,209 |
Upfront and milestone payments | ||
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | 181,331 | 107,228 |
Prepaid research and development services | ||
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | 10,938 | 1,045 |
Prepaid product and service revenues | ||
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | 4,759 | 4,365 |
Other | ||
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | $ 701 | $ 571 |
Collaboration and Licensing R74
Collaboration and Licensing Revenue - Summary of Deferred Revenue by Collaborator (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Summary of Deferred Revenue by Collaborator [Line Items] | ||
Deferred revenue | $ 197,729 | $ 113,209 |
Upfront and Milestone Payments | ||
Summary of Deferred Revenue by Collaborator [Line Items] | ||
Deferred revenue | 181,331 | 107,228 |
Ares Trading S.A. | Upfront and Milestone Payments | ||
Summary of Deferred Revenue by Collaborator [Line Items] | ||
Deferred revenue | 53,567 | 0 |
ZIOPHARM Oncology, Inc. | Upfront and Milestone Payments | ||
Summary of Deferred Revenue by Collaborator [Line Items] | ||
Deferred revenue | 30,338 | 23,193 |
Oragenics, Inc. | Upfront and Milestone Payments | ||
Summary of Deferred Revenue by Collaborator [Line Items] | ||
Deferred revenue | 8,813 | 10,010 |
Fibrocell Science, Inc. | Upfront and Milestone Payments | ||
Summary of Deferred Revenue by Collaborator [Line Items] | ||
Deferred revenue | 21,445 | 17,491 |
Genopaver, LLC | Upfront and Milestone Payments | ||
Summary of Deferred Revenue by Collaborator [Line Items] | ||
Deferred revenue | 2,250 | 2,523 |
Intrexon Energy Partners, LLC | Upfront and Milestone Payments | ||
Summary of Deferred Revenue by Collaborator [Line Items] | ||
Deferred revenue | 20,625 | 23,125 |
Persea Bio, LLC | Upfront and Milestone Payments | ||
Summary of Deferred Revenue by Collaborator [Line Items] | ||
Deferred revenue | 4,500 | 5,000 |
Thrive Agrobiotics, Inc. | Upfront and Milestone Payments | ||
Summary of Deferred Revenue by Collaborator [Line Items] | ||
Deferred revenue | 1,621 | 0 |
Intrexon Energy Partners II, LLC | Upfront and Milestone Payments | ||
Summary of Deferred Revenue by Collaborator [Line Items] | ||
Deferred revenue | 17,833 | 0 |
Other | Upfront and Milestone Payments | ||
Summary of Deferred Revenue by Collaborator [Line Items] | ||
Deferred revenue | $ 20,339 | $ 25,886 |
Collaboration and Licensing R75
Collaboration and Licensing Revenue - Additional Information (Detail) | 1 Months Ended | 12 Months Ended | ||||||||||||||||
Dec. 31, 2015USD ($)shares | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | May. 31, 2015USD ($)target | Dec. 31, 2014USD ($) | Mar. 31, 2014USD ($) | Jan. 31, 2014USD ($)shares | Dec. 31, 2013shares | Sep. 30, 2013USD ($)shares | Jun. 30, 2013USD ($)shares | Mar. 31, 2013USD ($) | Feb. 28, 2013 | Oct. 31, 2012USD ($)shares | Jun. 30, 2012USD ($)shares | Jan. 31, 2011USD ($)shares | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Collaboration Agreements [Line Items] | ||||||||||||||||||
Deferred revenue | $ 197,729,000 | $ 113,209,000 | $ 197,729,000 | $ 113,209,000 | ||||||||||||||
Trade, net | 25,101,000 | 14,582,000 | 25,101,000 | 14,582,000 | ||||||||||||||
Other assets | 3,725,000 | 1,271,000 | 3,725,000 | 1,271,000 | ||||||||||||||
Collaboration and licensing revenues | 87,821,000 | 45,212,000 | $ 23,525,000 | |||||||||||||||
Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Deferred revenue | 181,331,000 | 107,228,000 | 181,331,000 | 107,228,000 | ||||||||||||||
Collaboration and licensing revenues | 32,513,000 | 9,625,000 | 6,944,000 | |||||||||||||||
Prepaid research and development services | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Deferred revenue | 10,938,000 | 1,045,000 | 10,938,000 | 1,045,000 | ||||||||||||||
Ares Trading S.A. | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Trade, net | 6,250,000 | 6,250,000 | ||||||||||||||||
Other assets | 2,500,000 | 2,500,000 | ||||||||||||||||
Collaborative agreement, additional target fee | $ 5,000,000 | |||||||||||||||||
Maximum milestone payments required upon successful achievement, per product | 413,000,000 | |||||||||||||||||
Maximum milestone payments required upon successful achievement, one-time | $ 50,000,000 | |||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||
Collaboration and licensing revenues | 4,728,000 | |||||||||||||||||
Ares Trading S.A. | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Deferred revenue | $ 53,567,000 | 0 | 53,567,000 | 0 | ||||||||||||||
Collaboration and licensing revenues | 3,933,000 | |||||||||||||||||
Ares Trading S.A. | Prepaid research and development services | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Collaborative agreement, consideration receivable, minimum targets required | target | 2 | |||||||||||||||||
Deferred revenue | $ 10,000,000 | |||||||||||||||||
Collaborative agreement, consideration receivable, collection period | 2 years | |||||||||||||||||
Ares Trading S.A. | Upfront | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Collaborative agreement, consideration received, value | $ 115,000,000 | |||||||||||||||||
ZIOPHARM ECC 2 | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||
Royalty rate as a percentage of net profit | 50.00% | |||||||||||||||||
ZIOPHARM ECC 2 | Upfront | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Collaborative agreement, consideration received, value | $ 10,000,000 | |||||||||||||||||
ZIOPHARM ECC 1 | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||
Percentage of shares outstanding at the date of achievement of future milestone | 7.495% | |||||||||||||||||
Royalty rate as a percentage of net profit | 50.00% | |||||||||||||||||
ZIOPHARM ECC 1 | Upfront | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Collaborative agreement, consideration received, value | $ 17,457,000 | |||||||||||||||||
Collaborative agreement, consideration received, shares | shares | 3,636,926 | |||||||||||||||||
ZIOPHARM ECC 1 | Milestone One | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Collaborative agreement, consideration received, value | $ 18,330,000 | |||||||||||||||||
Collaborative agreement, consideration received, shares | shares | 3,636,926 | |||||||||||||||||
ZIOPHARM ECC 1 Separate Unit Of Accounting | Upfront | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Collaboration and licensing revenues | $ 1,115,000 | |||||||||||||||||
ZIOPHARM ECC 1 Unit of Accounting 1 | Upfront | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Deferred revenue | $ 16,342,000 | |||||||||||||||||
Oragenics ECC 1 | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||
Percentage of shares outstanding at the date of achievement of future milestone | 1.00% | |||||||||||||||||
Royalty rate as a percentage of net profit | 25.00% | |||||||||||||||||
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 1 | Upfront | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Collaborative agreement, consideration received, value | $ 6,588,000 | |||||||||||||||||
Collaborative agreement, consideration received, shares | shares | 4,392,425 | |||||||||||||||||
Oragenics ECC 2 | Upfront | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Collaborative agreement, consideration received, value | $ 3,503,000 | |||||||||||||||||
Collaborative agreement, consideration received, shares | shares | 1,348,000 | |||||||||||||||||
Collaborative agreement, consideration received, value of convertible promissory note | $ 1,956,000 | |||||||||||||||||
Conversion of promissory note into common stock (in shares) | shares | 698,241 | |||||||||||||||||
Oragenics ECC 3 | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Maximum milestone payments required upon successful achievement, per product | $ 22,000,000 | |||||||||||||||||
Maximum milestone payments required upon successful achievement, one-time | $ 10,000,000 | |||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||
Oragenics ECC 3 | Upfront | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Collaborative agreement, consideration received, value of convertible promissory note | $ 5,000,000 | |||||||||||||||||
Conversion of promissory note into common stock (in shares) | shares | 3,381,004 | |||||||||||||||||
Fibrocell ECC 1 | ||||||||||||||||||
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 ECC 1 | Upfront | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Collaborative agreement, consideration received, value | $ 7,576,000 | |||||||||||||||||
Collaborative agreement, consideration received, shares | shares | 1,317,520 | |||||||||||||||||
Fibrocell ECC 1 | Supplemental Upfront | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Collaborative agreement, consideration received, value | $ 5,225,000 | $ 7,612,000 | ||||||||||||||||
Collaborative agreement, consideration received, shares | shares | 1,024,590 | 1,243,781 | ||||||||||||||||
Fibrocell ECC 2 | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||
Maximum milestone payments required upon successful achievement, first product | $ 30,000,000 | |||||||||||||||||
Maximum milestone payments required upon successful achievement, per each additional product | 30,000,000 | |||||||||||||||||
Maximum milestone payments required for certain sales milestones, per product | 22,500,000 | |||||||||||||||||
Fibrocell ECC 2 | Upfront | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Collaborative agreement, consideration received, value | 10,000,000 | |||||||||||||||||
Genopaver, LLC | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||
Collaboration and licensing revenues | 3,829,000 | 1,783,000 | 1,139,000 | |||||||||||||||
Genopaver, LLC | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Deferred revenue | 2,250,000 | 2,523,000 | 2,250,000 | 2,523,000 | ||||||||||||||
Collaboration and licensing revenues | 273,000 | 273,000 | 204,000 | |||||||||||||||
Genopaver, LLC | Upfront | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Collaborative agreement, consideration received, value | $ 3,000,000 | |||||||||||||||||
AquaBounty Technologies, Inc. | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Royalty rate as a percentage of gross profit | 16.66% | |||||||||||||||||
S & I Ophthalmic, LLC | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||
Collaboration and licensing revenues | 4,115,000 | 2,832,000 | 417,000 | |||||||||||||||
S & I Ophthalmic, LLC | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Collaboration and licensing revenues | 0 | 0 | $ 0 | |||||||||||||||
OvaXon, LLC | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||
Collaboration and licensing revenues | 2,540,000 | 2,799,000 | ||||||||||||||||
OvaXon, LLC | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Collaboration and licensing revenues | 0 | 0 | ||||||||||||||||
Intrexon Energy Partners, LLC | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||
Collaboration and licensing revenues | 13,447,000 | 6,102,000 | ||||||||||||||||
Intrexon Energy Partners, LLC | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Deferred revenue | 20,625,000 | $ 23,125,000 | 20,625,000 | 23,125,000 | ||||||||||||||
Collaboration and licensing revenues | 2,500,000 | 1,875,000 | ||||||||||||||||
Intrexon Energy Partners, LLC | Upfront | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Collaborative agreement, consideration received, value | $ 25,000,000 | |||||||||||||||||
Persea Bio, LLC | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||
Collaboration and licensing revenues | 1,241,000 | |||||||||||||||||
Persea Bio, LLC | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Deferred revenue | 4,500,000 | $ 5,000,000 | 4,500,000 | 5,000,000 | ||||||||||||||
Collaboration and licensing revenues | 500,000 | |||||||||||||||||
Persea Bio, LLC | Upfront | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Collaborative agreement, consideration received, value | 5,000,000 | |||||||||||||||||
Thrive Agrobiotics, Inc. | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Maximum milestone payments required upon successful achievement, per product | $ 5,500,000 | |||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||
Collaboration and licensing revenues | 266,000 | |||||||||||||||||
Thrive Agrobiotics, Inc. | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Deferred revenue | $ 1,621,000 | 0 | 1,621,000 | 0 | ||||||||||||||
Collaboration and licensing revenues | 46,000 | |||||||||||||||||
Thrive Agrobiotics, Inc. | Upfront | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Collaborative agreement, consideration received, value | $ 1,667,000 | |||||||||||||||||
Intrexon Energy Partners II, LLC | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Required notice period for voluntary termination of collaborative agreement | 90 days | |||||||||||||||||
Collaboration and licensing revenues | 167,000 | |||||||||||||||||
Intrexon Energy Partners II, LLC | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Deferred revenue | $ 17,833,000 | $ 0 | 17,833,000 | $ 0 | ||||||||||||||
Collaboration and licensing revenues | $ 167,000 | |||||||||||||||||
Intrexon Energy Partners II, LLC | Upfront | Upfront and Milestone Payments | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Collaborative agreement, consideration received, value | $ 18,000,000 | |||||||||||||||||
ZIOPHARM Oncology, Inc. | Ares Trading S.A. | ||||||||||||||||||
Collaboration Agreements [Line Items] | ||||||||||||||||||
Payments to related parties | $ 57,500,000 | |||||||||||||||||
Collaboration agreement, percent of collaboration payments | 50.00% |
Short-term and Long-term Inve76
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 ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 208,494 | $ 115,566 |
Gross Unrealized Gains | 21 | 54 |
Gross Unrealized Losses | (540) | (12) |
Aggregate Fair Value | 207,975 | 115,608 |
U.S. government debt securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 208,223 | 115,293 |
Gross Unrealized Gains | 21 | 54 |
Gross Unrealized Losses | (540) | (12) |
Aggregate Fair Value | 207,704 | 115,335 |
Certificates of deposit | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 271 | 273 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Aggregate Fair Value | $ 271 | $ 273 |
Short-term and Long-term Inve77
Short-term and Long-term Investments - Summary of Estimated Fair Value of Available-for-Sale Investments Classified by Contractual Maturities (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Investments, Debt and Equity Securities [Abstract] | ||
Due within one year | $ 102,528 | |
After one year through two years | 105,447 | |
Total | $ 207,975 | $ 115,608 |
Fair Value Measurements - Summa
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 ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Assets | ||
Fair value of assets | $ 291,762 | $ 280,497 |
US government debt securities | ||
Assets | ||
Fair value of assets | 207,704 | 115,335 |
Equity securities | ||
Assets | ||
Fair value of assets | 83,653 | 164,889 |
Other | ||
Assets | ||
Fair value of assets | 405 | 273 |
Quoted Prices in Active Markets (Level 1) | ||
Assets | ||
Fair value of assets | 65,850 | 143,927 |
Quoted Prices in Active Markets (Level 1) | US government debt securities | ||
Assets | ||
Fair value of assets | 0 | 0 |
Quoted Prices in Active Markets (Level 1) | Equity securities | ||
Assets | ||
Fair value of assets | 65,850 | 143,927 |
Quoted Prices in Active Markets (Level 1) | Other | ||
Assets | ||
Fair value of assets | 0 | 0 |
Significant Other Observable Inputs (Level 2) | ||
Assets | ||
Fair value of assets | 225,912 | 136,570 |
Significant Other Observable Inputs (Level 2) | US government debt securities | ||
Assets | ||
Fair value of assets | 207,704 | 115,335 |
Significant Other Observable Inputs (Level 2) | Equity securities | ||
Assets | ||
Fair value of assets | 17,803 | 20,962 |
Significant Other Observable Inputs (Level 2) | Other | ||
Assets | ||
Fair value of assets | 405 | 273 |
Significant Unobservable Inputs (Level 3) | ||
Assets | ||
Fair value of assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) | US government debt securities | ||
Assets | ||
Fair value of assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Equity securities | ||
Assets | ||
Fair value of assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Other | ||
Assets | ||
Fair value of assets | $ 0 | $ 0 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Details) $ in Thousands | Dec. 31, 2015USD ($) |
Equity securities | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair value of assets transferred from Level 2 to Level 1 | $ 8,307 |
Inventory - Schedule of Invento
Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Inventory [Line Items] | ||
Inventory | $ 26,563 | $ 25,789 |
Supplies, semen and embryos | ||
Inventory [Line Items] | ||
Inventory | 1,402 | 1,184 |
Work in process | ||
Inventory [Line Items] | ||
Inventory | 6,290 | 5,637 |
Livestock | ||
Inventory [Line Items] | ||
Inventory | 16,907 | 16,996 |
Feed | ||
Inventory [Line Items] | ||
Inventory | $ 1,964 | $ 1,972 |
Property, Plant and Equipment81
Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Abstract] | ||
Land and land improvements | $ 9,119 | $ 7,565 |
Buildings and building improvements | 7,520 | 7,265 |
Furniture and fixtures | 1,283 | 1,236 |
Equipment | 36,016 | 31,983 |
Leasehold improvements | 6,888 | 6,382 |
Computer hardware and software | 5,960 | 5,060 |
Construction and other assets in progress | 2,193 | 1,002 |
Property, plant and equipment, gross | 68,979 | 60,493 |
Less: Accumulated depreciation and amortization | (26,240) | (22,493) |
Property, plant and equipment, net | $ 42,739 | $ 38,000 |
Property, Plant and Equipment82
Property, Plant and Equipment, Net - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation expense | $ 7,872 | $ 6,178 | $ 4,325 |
Goodwill and Intangible Asset83
Goodwill and Intangible Assets, Net - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Accumulated impairment losses | $ 0 | $ 0 | |
Amortization expense | 9,871,000 | $ 4,237,000 | $ 2,880,000 |
Total estimated amortization expense, 2016 | 13,967,000 | ||
Total estimated amortization expense, 2017 | 13,558,000 | ||
Total estimated amortization expense, 2018 | 12,915,000 | ||
Total estimated amortization expense, 2019 | 12,592,000 | ||
Total estimated amortization expense, 2020 | 12,172,000 | ||
Total estimated amortization expense, thereafter | $ 88,399,000 |
Goodwill and Intangible Asset84
Goodwill and Intangible Assets, Net - Schedule of Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill | ||
Beginning Balance | $ 101,059 | $ 13,823 |
Acquisitions | 67,403 | 87,236 |
Foreign currency translation adjustment | (3,293) | |
Ending Balance | $ 165,169 | $ 101,059 |
Goodwill and Intangible Asset85
Goodwill and Intangible Assets, Net - Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 269,227 | $ 77,900 |
Accumulated Amortization | (21,692) | (11,953) |
Net | 247,535 | 65,947 |
Patents, related technologies and know-how | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 157,411 | 41,872 |
Accumulated Amortization | (17,775) | (10,849) |
Net | 139,636 | 31,023 |
Customer relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 10,700 | 10,700 |
Accumulated Amortization | (2,739) | (806) |
Net | 7,961 | 9,894 |
Trademarks | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 6,800 | 5,900 |
Accumulated Amortization | (1,018) | (298) |
Net | 5,782 | 5,602 |
Covenant not to compete | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 384 | |
Accumulated Amortization | (160) | |
Net | 224 | |
In-process research and development | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 93,932 | 19,428 |
Net | $ 93,932 | $ 19,428 |
Weighted Average | Patents, related technologies and know-how | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Useful Life (Years) | 14 years 10 months 24 days | |
Weighted Average | Customer relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Useful Life (Years) | 6 years 6 months | |
Weighted Average | Trademarks | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Useful Life (Years) | 9 years 3 months 18 days | |
Weighted Average | Covenant not to compete | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Useful Life (Years) | 2 years |
Lines of Credit and Long Term86
Lines of Credit and Long Term Debt - Lines of Credit - Additional Information (Details) - Revolving Credit Facility | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Trans Ova Genetics, LC | First National Bank of Omaha | |
Line of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | $ 6,000,000 |
Debt instrument, interest rate, stated percentage rate range, minimum | 3.00% |
Line of credit facility, interest rate at period end | 3.15% |
Line of credit outstanding | $ 0 |
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 | $ 561,000 |
Debt instrument, interest rate, stated percentage | 4.50% |
Lines of Credit and Long Term87
Lines of Credit and Long Term Debt - Components of Long Term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | ||
Long term debt | $ 8,528 | $ 10,369 |
Less current portion | 930 | 1,675 |
Long term debt, less current portion | 7,598 | 8,694 |
Notes payable | ||
Debt Instrument [Line Items] | ||
Long term debt | 6,477 | 7,653 |
Royalty-based financing | ||
Debt Instrument [Line Items] | ||
Long term debt | 1,807 | 1,926 |
Other | ||
Debt Instrument [Line Items] | ||
Long term debt | $ 244 | $ 790 |
Lines of Credit and Long Term88
Lines of Credit and Long Term Debt - Schedule of Future Maturities of Long Term Debt (Details) $ in Thousands | Dec. 31, 2015USD ($) |
Debt Disclosure [Abstract] | |
2,016 | $ 930 |
2,017 | 383 |
2,018 | 526 |
2,019 | 341 |
2,020 | 311 |
Thereafter | 4,230 |
Total | $ 6,721 |
Lines of Credit and Long Term89
Lines of Credit and Long Term Debt - Long Term Debt - Additional Information (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Mar. 15, 2013 | |
Debt Instrument [Line Items] | |||
Long term debt | $ 8,528,000 | $ 10,369,000 | |
Notes payable to banks | Trans Ova Genetics, LC | American State Bank | |||
Debt Instrument [Line Items] | |||
Long term debt | 5,606,000 | ||
Debt instrument, periodic payment | $ 39,000 | ||
Debt instrument, interest rate, stated percentage | 3.95% | ||
Notes payable | |||
Debt Instrument [Line Items] | |||
Long term debt | $ 6,477,000 | 7,653,000 | |
Notes payable | Trans Ova Genetics, LC | Iowa Economic Development Authority | |||
Debt Instrument [Line Items] | |||
Long term debt | 366,000 | ||
Debt instrument, periodic payment, principal | 183,000 | ||
Notes payable | Exemplar Genetics, LLC | |||
Debt Instrument [Line Items] | |||
Long term debt | 505,000 | ||
Notes payable | Exemplar Genetics, LLC | Minimum | |||
Debt Instrument [Line Items] | |||
Debt instrument, periodic payment | $ 1,000 | ||
Debt instrument, interest rate, stated percentage | 0.00% | ||
Notes payable | Exemplar Genetics, LLC | Maximum | |||
Debt Instrument [Line Items] | |||
Debt instrument, periodic payment | $ 4,000 | ||
Debt instrument, interest rate, stated percentage | 3.00% | ||
Royalty-based financing | |||
Debt Instrument [Line Items] | |||
Long term debt | $ 1,807,000 | $ 1,926,000 | |
Royalty-based financing | AquaBounty Technologies, Inc. | Atlantic Canada Opportunities Agency | |||
Debt Instrument [Line Items] | |||
Long term debt | 1,807,000 | ||
Amount available under the grant for research and development | $ 2,070,000 | ||
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 |
Income Taxes - Components of Lo
Income Taxes - Components of Loss Before Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax [Line Items] | |||
Loss before income taxes | $ (86,978) | $ (85,719) | $ (40,908) |
Domestic | |||
Income Tax [Line Items] | |||
Loss before income taxes | (69,287) | (83,256) | (39,250) |
Foreign | |||
Income Tax [Line Items] | |||
Loss before income taxes | $ (17,691) | $ (2,463) | $ (1,658) |
Income Taxes - Components of In
Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
U.S. federal income taxes: | |||
Current | $ 22 | $ 0 | $ 0 |
Deferred | 1,732 | 0 | 0 |
Foreign income taxes: | |||
Current | (123) | (103) | 0 |
Deferred | (1,003) | 0 | 0 |
State income taxes: | |||
Deferred | 388 | 0 | 0 |
Total income tax expense (benefit) | $ 1,016 | $ (103) | $ 0 |
Income Taxes - Schedule of Effe
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Computed statutory income tax benefit | $ (29,573) | $ (29,144) | $ (13,909) |
State and provincial income tax benefit, net of federal income taxes | (3,157) | (3,544) | (1,834) |
Nondeductible stock based compensation | 3,182 | 1,386 | 575 |
Nondeductible officer compensation | 2,433 | 0 | 0 |
Contribution of services by shareholder | 0 | 677 | 527 |
Gain on previously held equity investment | 0 | 0 | (2,477) |
Research and development tax incentives | (348) | 258 | (1,203) |
Acquisition-related transaction costs | 883 | 0 | 0 |
Enacted change in tax rates | (961) | 0 | 0 |
U.S.-foreign rate differential | 620 | 0 | 0 |
Other, net | (98) | 1,503 | 1,317 |
Income tax reconciliation income tax benefit before valuation allowance, total | (27,019) | (28,864) | (17,004) |
Change in valuation allowance for deferred tax assets | 28,035 | 28,761 | 17,004 |
Total income tax expense (benefit) | $ 1,016 | $ (103) | $ 0 |
Income Taxes - Schedule of Defe
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Deferred tax assets | ||||
Allowance for doubtful accounts | $ 1,056 | $ 783 | ||
Inventory | 967 | 0 | ||
Equity securities and investments in affiliates | 10,413 | 4,694 | ||
Property, plant and equipment | 0 | 79 | ||
Accrued liabilities and long-term debt | 4,585 | 2,703 | ||
Stock-based compensation | 7,223 | 8,283 | ||
Deferred revenue | 31,637 | 43,774 | ||
Research and development tax credits | 9,113 | 9,661 | ||
Net operating loss carryforwards | 135,633 | 103,114 | ||
Total deferred tax assets | 200,627 | 173,091 | ||
Less: Valuation allowance | 190,174 | 161,660 | $ 131,985 | $ 113,051 |
Net deferred tax assets | 10,453 | 11,431 | ||
Deferred tax liabilities | ||||
Property, plant and equipment | 160 | 0 | ||
Intangible assets | 32,095 | 11,431 | ||
Total deferred tax liabilities | 32,255 | 11,431 | ||
Net deferred tax assets (liabilities) | $ 21,802 | $ 0 |
Income Taxes - Summary of Valua
Income Taxes - Summary of Valuation Allowance (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Valuation Allowance | |||
Valuation allowance at beginning of year | $ 161,660 | $ 131,985 | $ 113,051 |
Increase in valuation allowance as a result of mergers and acquisitions, net | 1,228 | 914 | 1,930 |
Increase in valuation allowance as a result of current year operations | 28,035 | 28,761 | 17,004 |
Decrease in valuation allowance as a result of foreign currency translation adjustment | (749) | 0 | 0 |
Valuation allowance at end of year | $ 190,174 | $ 161,660 | $ 131,985 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Operating Loss Carryforwards [Line Items] | |||
Federal corporate income tax rate | 34.00% | 34.00% | 34.00% |
Federal and state research and development tax credits | $ 9,113 | $ 9,661 | |
Retained earnings (accumulated deficit) | (542,729) | $ (458,236) | |
Foreign Subsidiaries | |||
Operating Loss Carryforwards [Line Items] | |||
Retained earnings (accumulated deficit) | (2,804) | ||
AquaBounty Technologies, Inc. | |||
Operating Loss Carryforwards [Line Items] | |||
Annual usage limit of operating loss carryforwards | $ 900 | ||
Expiration date of Federal income tax loss carryforwards | 2,018 | ||
Ownership percentage in Aquabounty (more than) | 50.00% | ||
Domestic | |||
Operating Loss Carryforwards [Line Items] | |||
Operating losses subject to annual limits | $ 16,400 | ||
Annual usage limit of operating loss carryforwards | 1,500 | ||
Net operating losses inherited via acquisition | 19,100 | ||
Operating loss carryforwards | 248,669 | ||
Federal and state research and development tax credits | $ 6,770 | ||
Expiration date of Federal income tax loss carryforwards | 2,022 | ||
Domestic | AquaBounty Technologies, Inc. | |||
Operating Loss Carryforwards [Line Items] | |||
Operating loss carryforwards | $ 17,100 | ||
Domestic | Biological & Popular Culture, Inc. | |||
Operating Loss Carryforwards [Line Items] | |||
Operating loss carryforwards | 1,400 | ||
Domestic | Share Based Compensation | |||
Operating Loss Carryforwards [Line Items] | |||
Operating loss carryforwards | 27,851 | ||
Foreign | |||
Operating Loss Carryforwards [Line Items] | |||
Operating loss carryforwards | 109,743 | ||
Foreign | AquaBounty Technologies, Inc. | |||
Operating Loss Carryforwards [Line Items] | |||
Operating loss carryforwards | 10,900 | ||
Tax credit | $ 2,200 |
Redeemable Convertible Prefer96
Redeemable Convertible Preferred Stock and Shareholders' Equity - Summary of Redeemable Convertible Preferred Stock (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Increase (Decrease) in Temporary Equity | |||
Accretion of dividends | $ 0 | $ 0 | $ 18,391 |
Series A Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | $ 0 | 1,358 | |
Accretion of dividends | 52 | ||
Conversion to common stock | (1,410) | ||
Ending balance | $ 0 | ||
Beginning balance, shares | 0 | 705,400 | |
Conversion to common stock, shares | (705,400) | ||
Ending balance, shares | 0 | ||
Series B Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | $ 0 | $ 669 | |
Accretion of dividends | 19 | ||
Conversion to common stock | (688) | ||
Ending balance | $ 0 | ||
Beginning balance, shares | 0 | 694,000 | |
Conversion to common stock, shares | (694,000) | ||
Ending balance, shares | 0 | ||
Series B-1 Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | $ 0 | $ 1,360 | |
Accretion of dividends | 37 | ||
Conversion to common stock | (1,397) | ||
Ending balance | $ 0 | ||
Beginning balance, shares | 0 | 1,212,360 | |
Conversion to common stock, shares | (1,212,360) | ||
Ending balance, shares | 0 | ||
Series C Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | $ 0 | $ 7,134 | |
Accretion of dividends | 266 | ||
Conversion to common stock | (7,400) | ||
Ending balance | $ 0 | ||
Beginning balance, shares | 0 | 4,546,360 | |
Conversion to common stock, shares | (4,546,360) | ||
Ending balance, shares | 0 | ||
Series C-1 Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | $ 0 | $ 34,201 | |
Accretion of dividends | 1,272 | ||
Conversion to common stock | (35,473) | ||
Ending balance | $ 0 | ||
Beginning balance, shares | 0 | 15,934,528 | |
Conversion to common stock, shares | (15,934,528) | ||
Ending balance, shares | 0 | ||
Series C-2 Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | $ 0 | $ 44,512 | |
Accretion of dividends | 1,660 | ||
Conversion to common stock | (46,172) | ||
Ending balance | $ 0 | ||
Beginning balance, shares | 0 | 18,617,020 | |
Conversion to common stock, shares | (18,617,020) | ||
Ending balance, shares | 0 | ||
Series C-3 Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | $ 0 | $ 29,770 | |
Accretion of dividends | 1,103 | ||
Conversion to common stock | (30,873) | ||
Ending balance | $ 0 | ||
Beginning balance, shares | 0 | 13,297,872 | |
Conversion to common stock, shares | (13,297,872) | ||
Ending balance, shares | 0 | ||
Series D Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | $ 0 | $ 76,252 | |
Accretion of dividends | 2,827 | ||
Conversion to common stock | (79,078) | ||
Settlement of fractional shares upon conversion to common stock | (1) | ||
Ending balance | $ 0 | ||
Beginning balance, shares | 0 | 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 | ||
Series E Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | $ 0 | $ 211,403 | |
Accretion of dividends | 7,931 | ||
Conversion to common stock | (219,332) | ||
Settlement of fractional shares upon conversion to common stock | (2) | ||
Ending balance | $ 0 | ||
Beginning balance, shares | 0 | 38,095,239 | |
Conversion to common stock, shares | (38,095,239) | ||
Settlement of fractional shares upon conversion to common stock, shares | 0 | ||
Ending balance, shares | 0 | ||
Series F Redeemable Convertible Preferred Stock | |||
Increase (Decrease) in Temporary Equity | |||
Beginning balance | $ 0 | $ 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 | 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 Prefer97
Redeemable Convertible Preferred Stock and Shareholders' Equity - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive loss | $ (12,752) | $ (4) |
Unrealized gain (loss) on investments | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive loss | (519) | 42 |
Foreign currency translation adjustments | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive loss | $ (12,233) | $ (46) |
Redeemable Convertible Prefer98
Redeemable Convertible Preferred Stock and Shareholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Aug. 13, 2013 | Aug. 31, 2015 | Jun. 30, 2015 | Jan. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Aug. 12, 2013 |
Class of Stock [Line Items] | |||||||||
Cumulative dividends accreted | $ 68,850 | ||||||||
Shares of common stock issued upon conversion of redeemable convertible preferred stock | 79,705,130 | ||||||||
Pre-IPO Series preferred optional redemption provision, percentage of holders of issued and outstanding shares, minimum threshold that can vote to redeem all of issued and outstanding shares at agreed price | 75.00% | ||||||||
Shares issued in public or private offerings, shares | 5,609,756 | 4,312,500 | 972,004 | ||||||
Value of shares issued in public or private offerings | $ 218,193 | $ 110,041 | $ 328,234 | $ 25,000 | $ 168,801 | ||||
Underwriting discounts and commissions | 11,500 | 6,086 | |||||||
Capitalized offering expenses | $ 306 | $ 311 | |||||||
Proceeds from issuance of shares in a private placement | $ 25,000 | 0 | $ 25,000 | $ 0 | |||||
Affiliates Of Third Security | |||||||||
Class of Stock [Line Items] | |||||||||
Shares issued in public or private offerings, shares | 555,556 | 243,001 | |||||||
Value of shares issued in public or private offerings | $ 6,250 | ||||||||
ZIOPHARM Oncology, Inc. | |||||||||
Class of Stock [Line Items] | |||||||||
Noncash dividend, shares | 17,830,305 | ||||||||
Realized investment gain | $ 81,401 | ||||||||
Intrexon Stock Option Plans | |||||||||
Class of Stock [Line Items] | |||||||||
Adjustment due to dividend (in shares) | 312,795 | ||||||||
Adjustment due to dividend (in usd per share) | $ 25.40 |
Share-Based Payments - Stock Co
Share-Based Payments - Stock Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation cost | $ 38,667 | $ 21,849 | $ 2,921 |
Cost of products | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation cost | 95 | 14 | 0 |
Cost of services | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation cost | 354 | 142 | 0 |
Research and development | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation cost | 8,614 | 4,817 | 514 |
Selling, general and administrative | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation cost | $ 29,604 | $ 16,876 | $ 2,407 |
Share-Based Payments - Intrexon
Share-Based Payments - Intrexon Stock Option Plans - Schedule of Stock Option Activity (Detail) - Intrexon Stock Option Plans - $ / shares | 12 Months Ended | ||||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Number of Shares | |||||
Balances at beginning of period (in shares) | 8,323,544 | 2,840,648 | 2,313,526 | ||
Granted (in shares) | 5,051,500 | 7,655,050 | 989,709 | ||
Adjustment due to dividend (in shares) | 312,795 | ||||
Exercised (in shares) | (1,029,291) | (315,964) | (88,764) | ||
Forfeited (in shares) | (1,610,335) | (1,855,578) | (335,746) | ||
Expired (in shares) | (4,685) | (612) | (38,077) | ||
Balances at period end (in shares) | 11,043,528 | 8,323,544 | 2,840,648 | 2,313,526 | |
Weighted Average Exercise Price (usd per share) | |||||
Balances at beginning of period (in usd per share) | $ 22.59 | $ 8.27 | $ 5.90 | ||
Granted (in usd per share) | 45.82 | 27.51 | 13.06 | ||
Adjustment due to dividend (in usd per share) | 25.40 | ||||
Exercised (in usd per share) | (15.16) | (4.80) | (6.04) | ||
Forfeited (in usd per share) | (26.75) | (24) | (6.94) | ||
Expired (in usd per share) | (28.29) | (7.12) | (5.17) | ||
Balances at period end (in usd per share) | $ 32.66 | 22.59 | $ 8.27 | $ 5.90 | |
Additional Disclosures | |||||
Exercisable at period end (in shares) | 2,494,426 | ||||
Vested and expected to vest at period end (in shares) | [1] | 9,235,535 | |||
Options exercisable, weighted average exercise price (in usd per share) | $ 18.31 | $ 8.27 | |||
Vested and expected to vest, weighted average exercise price (in usd per share) | [1] | $ 31.52 | |||
Balances at period end, weighted average remaining contractual period | 8 years 5 months 27 days | 8 years 7 months 21 days | 7 years 9 months | 7 years 10 months 13 days | |
Exercisable at period end, weighted average remaining contractual period | 6 years 9 months 26 days | ||||
Vested and expected to vest at period end, weighted average remaining contractual period | [1] | 8 years 1 month 17 days | |||
[1] | The number of stock options expected to vest takes into account an estimate of expected forfeitures. |
Share-Based Payments - Intre101
Share-Based Payments - Intrexon Stock Option Plans - Summary of Information About Stock Options Outstanding (Detail) - Intrexon Stock Option Plans - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Options outstanding, number of options (in shares) | 11,043,528 | 8,323,544 | ||
Options outstanding, weighted average exercise price (in usd per share) | $ 32.66 | $ 22.59 | $ 8.27 | $ 5.90 |
Options outstanding, weighted average remaining life (in years) | 8 years 5 months 27 days | 8 years 7 months 21 days | ||
Options outstanding, aggregate intrinsic value | $ 47,295 | $ 52,219 | ||
Options exercisable, number of options (in shares) | 2,494,426 | 1,448,434 | ||
Options exercisable, weighted average exercise price (in usd per share) | $ 18.31 | $ 8.27 | ||
Options exercisable, weighted average remaining life (in years) | 6 years 9 months 26 days | 6 years 3 months | ||
Options exercisable, aggregate intrinsic value | $ 31,251 | $ 28,189 | ||
Price range 1 | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Stock options, exercise price range, lower limit (in usd per share) | $ 0.38 | $ 0.39 | ||
Stock options, exercise price range, upper limit (in usd per share) | $ 9.34 | $ 9.67 | ||
Options outstanding, number of options (in shares) | 1,261,192 | 1,747,494 | ||
Options outstanding, weighted average exercise price (in usd per share) | $ 6.40 | $ 6.49 | ||
Options outstanding, weighted average remaining life (in years) | 5 years 4 months 24 days | 6 years 3 months | ||
Options outstanding, aggregate intrinsic value | $ 29,956 | $ 36,772 | ||
Options exercisable, number of options (in shares) | 1,147,978 | 1,293,184 | ||
Options exercisable, weighted average exercise price (in usd per share) | $ 6.19 | $ 6.07 | ||
Options exercisable, weighted average remaining life (in years) | 5 years 3 months | 5 years 10 months 24 days | ||
Options exercisable, aggregate intrinsic value | $ 27,507 | $ 27,746 | ||
Price range 2 | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Stock options, exercise price range, lower limit (in usd per share) | $ 15.21 | $ 15.39 | ||
Stock options, exercise price range, upper limit (in usd per share) | $ 28.93 | $ 22.77 | ||
Options outstanding, number of options (in shares) | 2,682,516 | 2,603,300 | ||
Options outstanding, weighted average exercise price (in usd per share) | $ 24.25 | $ 21.74 | ||
Options outstanding, weighted average remaining life (in years) | 8 years 5 months 5 days | 9 years 3 months 26 days | ||
Options outstanding, aggregate intrinsic value | $ 15,831 | $ 15,084 | ||
Options exercisable, number of options (in shares) | 602,023 | 57,000 | ||
Options exercisable, weighted average exercise price (in usd per share) | $ 24.43 | $ 19.77 | ||
Options exercisable, weighted average remaining life (in years) | 8 years 4 months 10 days | 9 years 18 days | ||
Options exercisable, aggregate intrinsic value | $ 3,445 | $ 442 | ||
Price range 3 | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Stock options, exercise price range, lower limit (in usd per share) | $ 29.14 | $ 24.73 | ||
Stock options, exercise price range, upper limit (in usd per share) | $ 29.68 | $ 28.69 | ||
Options outstanding, number of options (in shares) | 2,895,885 | 260,750 | ||
Options outstanding, weighted average exercise price (in usd per share) | $ 29.63 | $ 26.21 | ||
Options outstanding, weighted average remaining life (in years) | 8 years 5 months 9 days | 9 years 8 months 27 days | ||
Options outstanding, aggregate intrinsic value | $ 1,508 | $ 363 | ||
Options exercisable, number of options (in shares) | 635,743 | 8,250 | ||
Options exercisable, weighted average exercise price (in usd per share) | $ 29.68 | $ 28.25 | ||
Options exercisable, weighted average remaining life (in years) | 7 years 11 months 27 days | 8 years 7 months 17 days | ||
Options exercisable, aggregate intrinsic value | $ 299 | $ 1 | ||
Price range 4 | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Stock options, exercise price range, lower limit (in usd per share) | $ 30.10 | $ 29.95 | ||
Stock options, exercise price range, upper limit (in usd per share) | $ 56.77 | $ 29.95 | ||
Options outstanding, number of options (in shares) | 3,118,935 | 1,000,000 | ||
Options outstanding, weighted average exercise price (in usd per share) | $ 44.48 | $ 29.95 | ||
Options outstanding, weighted average remaining life (in years) | 9 years 5 months 16 days | 9 years 2 months 16 days | ||
Options outstanding, aggregate intrinsic value | $ 0 | $ 0 | ||
Options exercisable, number of options (in shares) | 108,682 | 0 | ||
Options exercisable, weighted average exercise price (in usd per share) | $ 45.87 | $ 0 | ||
Options exercisable, weighted average remaining life (in years) | 8 years 7 days | 0 years | ||
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 (in usd per share) | $ 57.95 | $ 30.72 | ||
Stock options, exercise price range, upper limit (in usd per share) | $ 65.34 | $ 30.72 | ||
Options outstanding, number of options (in shares) | 1,085,000 | 2,712,000 | ||
Options outstanding, weighted average exercise price (in usd per share) | $ 58.07 | $ 30.72 | ||
Options outstanding, weighted average remaining life (in years) | 9 years 6 months 18 days | 9 years 2 months 19 days | ||
Options outstanding, aggregate intrinsic value | $ 0 | $ 0 | ||
Options exercisable, number of options (in shares) | 0 | 90,000 | ||
Options exercisable, weighted average exercise price (in usd per share) | $ 0 | $ 30.72 | ||
Options exercisable, weighted average remaining life (in years) | 0 years | 9 years 2 months 19 days | ||
Options exercisable, aggregate intrinsic value | $ 0 | $ 0 |
Share-Based Payments - Addition
Share-Based Payments - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Monthly base salary | $ 38,667 | $ 21,849 | $ 2,921 | |
Contribution of services by shareholder | $ 0 | $ 1,991 | $ 1,550 | |
Intrexon Stock Option Plan - 2008 Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options outstanding (in shares) | 1,261,192 | |||
Intrexon Stock Option Plan - 2013 Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options outstanding (in shares) | 9,782,336 | |||
Number of authorized awards (in shares) | 13,000,000 | |||
Remaining shares available to grant (in shares) | 2,534,542 | |||
Intrexon Stock Option Plans | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options outstanding (in shares) | 11,043,528 | 8,323,544 | 2,840,648 | 2,313,526 |
Term of issuance of option | 10 years | |||
Vesting period of option | 4 years | |||
Unrecognized compensation costs related to nonvested awards | $ 113,655 | $ 62,281 | $ 9,639 | |
Recognized over weighted-average period | 3 years | 3 years | 3 years | |
Weighted average grant date fair value of options granted (in usd per share) | $ 25.96 | $ 16.40 | $ 12.91 | |
Aggregate intrinsic value of options exercised | $ 24,675 | $ 6,350 | $ 1,136 | |
Options outstanding, weighted average exercise price (in usd per share) | $ 32.66 | $ 22.59 | $ 8.27 | $ 5.90 |
Options exercisable (in shares) | 2,494,426 | |||
AquaBounty Stock Option Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options outstanding (in shares) | 5,382,000 | 7,347,000 | ||
Options outstanding, weighted average exercise price (in usd per share) | $ 0.26 | $ 0.31 | ||
Options exercisable (in shares) | 4,320,333 | 6,171,520 | ||
Chief Executive Officer | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Monthly base salary | $ 200 | |||
Lock-up period | 3 years | |||
Initial term of compensation arrangement | 12 months | |||
Contribution of services by shareholder | $ 1,991 | $ 1,550 | ||
Selling, general and administrative | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Monthly base salary | $ 29,604 | $ 16,876 | $ 2,407 | |
Selling, general and administrative | Chief Executive Officer | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Fair value of shares issued | $ 314 |
License Agreement - Additional
License Agreement - Additional Information (Details) - USD ($) | 1 Months Ended | 12 Months Ended |
Jan. 31, 2015 | Dec. 31, 2015 | |
Other Commitments [Line Items] | ||
Shares issued as consideration for licensing agreement, shares | 2,100,085 | |
Research and development | ||
Other Commitments [Line Items] | ||
Payment of license fees | $ 59,579,000 | |
ZIOPHARM Oncology, Inc. | ||
Other Commitments [Line Items] | ||
Annual funding commitment, term | 3 years | |
Minimum | ZIOPHARM Oncology, Inc. | ||
Other Commitments [Line Items] | ||
Annual funding commitment, amount | $ 15,000,000 | |
Maximum | ZIOPHARM Oncology, Inc. | ||
Other Commitments [Line Items] | ||
Annual funding commitment, amount | $ 20,000,000 |
Commitments and Contingencies -
Commitments and Contingencies - Future Minimum Lease Payments Under Noncancelable Operating Leases (Detail) $ in Thousands | Dec. 31, 2015USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2,016 | $ 4,136 |
2,017 | 3,837 |
2,018 | 2,317 |
2,019 | 2,129 |
2,020 | 2,182 |
Thereafter | 1,606 |
Future minimum lease payments under operating leases, total | $ 16,207 |
Commitments and Contingencie105
Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | 46 Months Ended | ||
Feb. 29, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |||||
Rent expenses | $ 8,610 | $ 8,511 | $ 5,672 | ||
Rental income under sublease agreement | 1,486 | $ 908 | $ 365 | ||
Future rental income under sublease agreements, 2016 | 741 | $ 741 | |||
Future rental income under sublease agreements, 2017 | 96 | 96 | |||
Licensing and Patent Infringement Suit | |||||
Loss Contingencies [Line Items] | |||||
Cumulative payments for royalties | 3,270 | ||||
Royalty payments not yet deposited | $ 2,859 | $ 2,859 | |||
Subsequent Event | Licensing and Patent Infringement Suit | |||||
Loss Contingencies [Line Items] | |||||
Damages awarded to (against) TransOva | $ 528 | ||||
Subsequent Event | XY, LLC | Licensing and Patent Infringement Suit | |||||
Loss Contingencies [Line Items] | |||||
Damages awarded to (against) TransOva | $ (6,066) |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) | Aug. 07, 2015 | Jul. 31, 2015$ / sharesshares | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)$ / sharesshares | Sep. 30, 2014USD ($) | Nov. 30, 2013$ / sharesshares | Sep. 30, 2013$ / sharesshares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)$ / shares | Dec. 31, 2013USD ($) | Feb. 28, 2015USD ($) |
Related Party Transaction [Line Items] | ||||||||||||
Services agreement, term | 1 year | |||||||||||
Shares issued as compensation for services | $ 2,169,000 | $ 486,000 | $ 124,000 | |||||||||
Purchases of equity securities and warrants | 17,080,000 | 19,496,000 | 28,650,000 | |||||||||
Fair value of assets | $ 280,497,000 | 291,762,000 | 280,497,000 | |||||||||
Collaboration and licensing revenues | 87,821,000 | 45,212,000 | 23,525,000 | |||||||||
Upfront and milestone payments | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Collaboration and licensing revenues | 32,513,000 | 9,625,000 | 6,944,000 | |||||||||
Third Security, LLC | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Expense for services | $ 428,000 | $ 291,000 | 455,000 | |||||||||
Shares issued as compensation for services, shares | shares | 48,678 | |||||||||||
Shares issued as compensation for services | $ 1,375,000 | |||||||||||
ZIOPHARM Oncology, Inc. | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Common stock purchased from collaborative partners, value | $ 43,582,000 | |||||||||||
Oragenics, Inc. | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Common stock purchased from collaborative partners, shares | shares | 1,300,000 | |||||||||||
Price per share of common shares, in usd per share | $ / shares | $ 3 | |||||||||||
Maximum percentage of shares of future securities offerings of collaborative partners to which the entity is entitled to purchase | 30.00% | |||||||||||
Oragenics ECC 3 | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Commitment period for purchase of additional common stock after effective date | 16 months | |||||||||||
Fibrocell Science, Inc. | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Common stock purchased from collaborative partners, shares | shares | 375,868 | |||||||||||
Price per share of common shares, in usd per share | $ / shares | $ 5.80 | |||||||||||
AmpliPhi Biosciences Corporation | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Common stock purchased from collaborative partners, shares | shares | 278,788 | |||||||||||
Warrants purchased from collaborative partners, shares | shares | 69,696 | |||||||||||
Purchases of equity securities and warrants | $ 2,300,000 | |||||||||||
Histogenics Corporation | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Common stock purchased from collaborative partners, shares | shares | 1,772,364 | |||||||||||
Price per share of common shares, in usd per share | $ / shares | $ 11 | $ 11 | ||||||||||
Note receivable interest rate | 6.00% | |||||||||||
Histogenics Corporation | Upfront and milestone payments | Upfront | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Collaborative agreement, consideration received, value of convertible promissory note | $ 10,000,000 | |||||||||||
Related Parties, Aggregated | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Collaboration and licensing revenues | $ 77,354,000 | $ 41,030,000 | $ 22,783,000 | |||||||||
Common Stock | Third Security, LLC | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Expense for services | 800,000 | |||||||||||
Share Purchase Rights Plan | Oragenics, Inc. | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Common stock purchased from collaborative partners, shares | shares | 1,100,000 | |||||||||||
Price per share of common shares, in usd per share | $ / shares | $ 2.50 | |||||||||||
Warrants | AmpliPhi Biosciences Corporation | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Purchases of equity securities and warrants | 321,000 | |||||||||||
Common Stock | AmpliPhi Biosciences Corporation | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Purchases of equity securities and warrants | $ 1,979,000 | |||||||||||
AmpliPhi Biosciences Corporation | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Reverse stock split ratio | 1-for-50 | |||||||||||
Reverse stock split, conversion ratio | 0.02 | |||||||||||
Other assets | Warrants | AmpliPhi Biosciences Corporation | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Fair value of assets | 134,000 | |||||||||||
Maximum | Oragenics, Inc. | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Purchase of additional common stock | $ 10,000,000 | |||||||||||
Other nonoperating income | Harvest Intrexon Enterprise Fund I, LP | ||||||||||||
Related Party Transaction [Line Items] | ||||||||||||
Management fees revenue | $ 1,349,000 |
Net Loss per Share - Historical
Net Loss per Share - Historical Computation of Basic and Diluted Net Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Numerator: | |||||||||||
Net loss attributable to Intrexon | $ (32,714) | $ (38,213) | $ (40,663) | $ 27,097 | $ 18,831 | $ (52,725) | $ (52,043) | $ 4,115 | $ (84,493) | $ (81,822) | $ (38,980) |
Add: Accretion of dividends on redeemable convertible preferred stock | 0 | 0 | (18,391) | ||||||||
Net loss attributable to common shareholders | $ (84,493) | $ (81,822) | $ (57,371) | ||||||||
Denominator: | |||||||||||
Weighted average shares outstanding, basic and diluted | 111,066,352 | 99,170,653 | 40,951,952 | ||||||||
Net loss attributable to common shareholders per share, basic and diluted (in usd per share) | $ (0.76) | $ (0.83) | $ (1.40) |
Net Loss per Share - Potentiall
Net Loss per Share - Potentially Dilutive Securities Excluded from Calculation of Net Loss per Share (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share, amount | 11,238,247 | 8,676,027 | 3,255,052 |
Options | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share, amount | 11,043,528 | 8,323,544 | 2,840,648 |
Warrants | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share, amount | 194,719 | 352,483 | 414,404 |
Quarterly Financial Informat109
Quarterly Financial Information (Unaudited) - Schedule of Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Total revenues | $ 41,498 | $ 53,367 | $ 44,891 | $ 33,849 | $ 31,092 | $ 21,197 | $ 11,787 | $ 7,854 | $ 173,605 | $ 71,930 | $ 23,760 |
Operating loss | (34,395) | (7,916) | (17,430) | (87,123) | (18,961) | (15,047) | (18,082) | (17,872) | (146,864) | (69,962) | (58,023) |
Net income (loss) | (33,275) | (39,029) | (41,494) | 25,804 | 17,932 | (53,862) | (52,935) | 3,249 | (87,994) | (85,616) | (40,908) |
Net income (loss) attributable to Intrexon | $ (32,714) | $ (38,213) | $ (40,663) | $ 27,097 | $ 18,831 | $ (52,725) | $ (52,043) | $ 4,115 | $ (84,493) | $ (81,822) | $ (38,980) |
Net income (loss) attributable to common shareholders per share, basic (in usd per share) | $ (0.28) | $ (0.34) | $ (0.37) | $ 0.26 | $ 0.19 | $ (0.53) | $ (0.53) | $ 0.04 | |||
Net income (loss) attributable to common shareholders per share, diluted (in usd per share) | $ (0.28) | $ (0.34) | $ (0.37) | $ 0.25 | $ 0.18 | $ (0.53) | $ (0.53) | $ 0.04 |
Defined Contribution Plans - Ad
Defined Contribution Plans - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Compensation and Retirement Disclosure [Abstract] | |||
Defined contribution plans, cost recognized | $ 1,157 | $ 776 | $ 598 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Details) - Subsequent Event | 1 Months Ended |
Feb. 29, 2016USD ($)shares | |
AquaBounty Technologies, Inc. | |
Subsequent Event [Line Items] | |
Maximum amount available under promissory note | $ 10,000,000 |
Note receivable interest rate | 10.00% |
Amount drawn under promissory note | $ 2,500,000 |
Joint venture between Intrexon Corporation and Darling Ingredients Inc. | |
Subsequent Event [Line Items] | |
Capital contribution | 3,000,000 |
Joint venture between Intrexon Corporation and Darling Ingredients Inc. | Maximum | |
Subsequent Event [Line Items] | |
Joint venture additional capital contributions committed (up to) | 5,000,000 |
Joint venture between Intrexon Corporation and Darling Ingredients Inc. | Maximum | Investor | |
Subsequent Event [Line Items] | |
Joint venture additional capital contributions committed (up to) | 5,000,000 |
EnviroFlight, LLC | |
Subsequent Event [Line Items] | |
Cash | $ 4,250,000 |
Business combination, consideration paid, shares issued | shares | 136,340 |
Future contingent payments based on certain regulatory and commercial milestones | $ 5,500,000 |