Radius Recycling 10-Q 5 Nov 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2019	Nov. 01, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	001-35726
Entity Registrant Name	Radius Health, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	80-0145732
Entity Address, Address Line One	950 Winter Street
Entity Address, City or Town	Waltham
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02451
City Area Code	617
Local Phone Number	551-4000
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	RDUS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		46,172,356
Entity Central Index Key	0001428522
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 88,925	$ 59,321
Restricted cash	565	560
Marketable securities	79,251	177,140
Accounts receivable, net	21,528	16,758
Inventory	4,911	6,210
Prepaid expenses	15,201	13,842
Other current assets	858	1,202
Total current assets	211,239	275,033
Property and equipment, net	2,616	4,003
Intangible assets	6,783	7,382
Right of use assets - operating leases	6,443
Other assets	412	544
Total assets	227,493	286,962
Current liabilities:
Accounts payable	4,608	4,226
Accrued expenses and other current liabilities	49,082	42,203
Operating lease liability, current	1,904
Total current liabilities	55,594	46,429
Notes payable	191,444	179,806
Operating lease liability, long term	4,681
Other non-current liabilities	24	95
Total liabilities	251,743	226,330
Commitments and contingencies
Stockholders’ equity (deficit):
Common stock, $0.0001 par value; 200,000,000 shares authorized, 46,173,170 shares and 45,563,693 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively	5	5
Additional paid-in-capital	1,187,623	1,165,003
Accumulated other comprehensive loss	21	(755)
Accumulated deficit	(1,211,899)	(1,103,621)
Total stockholders’ equity (deficit)	(24,250)	60,632
Total liabilities and stockholders’ equity (deficit)	$ 227,493	$ 286,962

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	46,173,170	45,563,693
Common stock, shares outstanding (in shares)	46,173,170	45,563,693

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
OPERATING EXPENSES:
Cost of sales - intangible amortization	$ 200	$ 200	$ 599	$ 599
Research and development	31,791	26,804	82,230	75,979
Selling, general and administrative	35,617	43,661	116,918	140,266
Other operating expenses	0	0	0	10,801
Loss from operations	(24,813)	(45,219)	(92,904)	(167,714)
OTHER INCOME (EXPENSE):
Other income (expense)	59	17	21	83
Interest expense	(6,298)	(5,793)	(18,500)	(17,041)
Interest income	1,008	1,193	3,105	4,433
NET LOSS	(30,044)	(49,802)	(108,278)	(180,239)
OTHER COMPREHENSIVE LOSS:
Unrealized gain (loss) from available-for-sale debt securities	66	442	776	(534)
COMPREHENSIVE LOSS	(29,978)	(49,360)	(107,502)	(180,773)
LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS - BASIC AND DILUTED (Note 11)	$ (30,044)	$ (49,802)	$ (108,278)	$ (180,239)
LOSS PER SHARE:
Basic and diluted (in dollars per share)	$ (0.65)	$ (1.09)	$ (2.36)	$ (3.98)
WEIGHTED AVERAGE SHARES:
Basic and diluted (in shares)	46,141,217	45,498,909	45,975,691	45,291,176
Product
REVENUES:
Product revenue, net	$ 46,766	$ 27,639	$ 117,652	$ 64,815
OPERATING EXPENSES:
Cost of sales - product	$ 3,971	$ 2,193	$ 10,809	$ 4,884

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
CASH FLOWS USED IN OPERATING ACTIVITIES:
Net loss	$ (108,278)	$ (180,239)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,785	2,005
Amortization of discount on marketable securities, net	(246)	(199)
Amortization of debt discount and debt issuance costs	11,638	10,174
Impairment loss on operating lease right of use assets	339
Stock-based compensation	16,911	22,270
(Gain)/Loss on property and equipment disposals	201	0
Changes in operating assets and liabilities:
Inventory	1,299	(1,180)
Accounts receivable, net	(4,770)	(8,467)
Prepaid expenses	(1,359)	(4,922)
Other current assets	344	998
Operating lease right of use assets	1,507
Other long-term assets	132	210
Accounts payable	382	2,379
Accrued expenses and other current liabilities	6,879	(7,455)
Lease liability, operating leases	(1,704)
Other non-current liabilities	(71)	(71)
Net cash used in operating activities	(75,011)	(164,497)
CASH FLOWS PROVIDED BY INVESTING ACTIVITIES:
Purchases of property and equipment	0	(70)
Purchases of marketable securities	(36,589)	(499)
Sales and maturities of marketable securities	135,500	97,501
Net cash provided by (used in) investing activities	98,911	96,932
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES:
Proceeds from exercise of stock options and warrant exercises	3,869	8,953
Proceeds from issuance of shares under employee stock purchase plan	1,840	2,565
Net cash provided by financing activities	5,709	11,518
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	29,609	(56,047)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF YEAR	59,881	118,619
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD	89,490	62,572
SUPPLEMENTAL DISCLOSURES:
Cash paid for interest	9,150	9,582
Cash paid for income taxes	0	22
Property and equipment purchases in accrued expenses at period end	0	$ 298
Right of use assets obtained in exchange for operating lease liability	$ 8,289

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	AOCI Attributable to Parent	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2017		44,616,586
Beginning balance at Dec. 31, 2017	$ 242,036	$ 4	$ 1,124,630	$ (314)	$ (882,284)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(180,239)				(180,239)
Unrealized gain from available-for-sale securities	(534)			(534)
Vesting of restricted shares (in shares)		24,372
Exercise of options (in shares)		460,677
Exercise of options	8,953	$ 1	8,952
Exercise of warrants (in shares)		336,059
Share-based compensation expense related to share-based awards for employee stock purchase plan	615		615
Issuance of common stock upon purchase by employee stock purchase plan (in shares)		101,822
Issuance of common stock upon purchase by employee stock purchase plan	2,565		2,565
Share-based compensation expense	21,655		21,655
Ending balance (in shares) at Sep. 30, 2018		45,539,516
Ending balance at Sep. 30, 2018	95,051	$ 5	1,158,417	(848)	(1,062,523)
Beginning balance (in shares) at Jun. 30, 2018		45,476,455
Beginning balance at Jun. 30, 2018	136,759	$ 5	1,150,765	(1,290)	(1,012,721)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(49,802)				(49,802)
Unrealized gain from available-for-sale securities	442			442
Exercise of options (in shares)		15,929
Exercise of options	127		127
Exercise of warrants (in shares)		0
Exercise of warrants	0
Share-based compensation expense related to share-based awards for employee stock purchase plan	201		201
Issuance of common stock upon purchase by employee stock purchase plan (in shares)		47,132
Issuance of common stock upon purchase by employee stock purchase plan	824		824
Share-based compensation expense	6,500		6,500
Ending balance (in shares) at Sep. 30, 2018		45,539,516
Ending balance at Sep. 30, 2018	95,051	$ 5	1,158,417	(848)	(1,062,523)
Beginning balance (in shares) at Dec. 31, 2018		45,563,693
Beginning balance at Dec. 31, 2018	60,632	$ 5	1,165,003	(755)	(1,103,621)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(108,278)				(108,278)
Unrealized gain from available-for-sale securities	776			776
Vesting of restricted shares (in shares)		75,331
Exercise of options (in shares)		341,337
Exercise of options	2,869		2,869
Exercise of warrants (in shares)		81,104
Exercise of warrants	1,000		1,000
Share-based compensation expense related to share-based awards for employee stock purchase plan	456		456
Issuance of common stock upon purchase by employee stock purchase plan (in shares)		111,705
Issuance of common stock upon purchase by employee stock purchase plan	1,840		1,840
Share-based compensation expense	16,455		16,455
Ending balance (in shares) at Sep. 30, 2019		46,173,170
Ending balance at Sep. 30, 2019	(24,250)	$ 5	1,187,623	21	(1,211,899)
Beginning balance (in shares) at Jun. 30, 2019		46,125,197
Beginning balance at Jun. 30, 2019	(134)	$ 5	1,181,761	(45)	(1,181,855)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(30,044)				(30,044)
Unrealized gain from available-for-sale securities	66			66
Share-based compensation expense related to share-based awards for employee stock purchase plan	20		20
Issuance of common stock upon purchase by employee stock purchase plan (in shares)		47,973
Issuance of common stock upon purchase by employee stock purchase plan	813		813
Share-based compensation expense	5,029		5,029
Ending balance (in shares) at Sep. 30, 2019		46,173,170
Ending balance at Sep. 30, 2019	$ (24,250)	$ 5	$ 1,187,623	$ 21	$ (1,211,899)

Organization

Organization	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Radius Health, Inc. (“Radius” or the “Company”) is a science-driven fully integrated biopharmaceutical company that is committed to developing and commercializing innovative endocrine therapeutics. In November 2019, the Company announced a strategic plan to focus on targeted endocrine diseases and explore all strategic options for its oncology programs, including elacestrant (RAD1901) and RAD140. In April 2017, the Company’s first commercial product, TYMLOS ® (abaloparatide) injection, was approved by the U.S. Food and Drug Administration (“FDA”) for the treatment of postmenopausal women with osteoporosis at high risk for fracture defined as history of osteoporotic fracture, multiple risk factors for fracture, or patients who have failed or are intolerant to other available osteoporosis therapy. In March 2018, the Committee for Medicinal Products for Human Use (“CHMP”) of the European Medicines Agency (“EMA”) adopted a negative opinion on the Company’s European Marketing Authorisation Application (“MAA”) for abaloparatide-SC. In July 2018, following a re-examination procedure, the CHMP maintained its negative opinion and on January 7, 2019, the European Commission adopted a decision refusing approval of the MAA on the basis of the negative opinion of the Committee. In July 2017, the Company entered into a license and development agreement with Teijin Limited (“Teijin”) for abaloparatide for subcutaneous injection (“abaloparatide-SC”) in Japan, under which the Company received an upfront payment and is entitled to receive milestone payments upon the achievement of certain regulatory and sales milestones, and a fixed low double-digit royalty based on net sales of abaloparatide-SC in Japan during the royalty term. In addition, the Company has an option to negotiate for a co-promotion agreement with Teijin for abaloparatide-SC in Japan. The Company is developing an abaloparatide transdermal patch, or abaloparatide-patch, for potential use in the treatment of postmenopausal women with osteoporosis. The Company is also developing an investigational product candidate, elacestrant (“RAD1901”), a selective estrogen receptor degrader (“SERD”), for potential use in the treatment of hormone receptor-positive breast cancer. The Company was developing its internally discovered investigational product candidate, RAD140, a non-steroidal selective androgen receptor modulator (“SARM”) for potential use in the treatment of hormone receptor-positive breast cancer. The Company is subject to the risks associated with biopharmaceutical companies with a limited operating history, including dependence on key individuals, a developing business model, the necessity of securing regulatory approvals to market its investigational product candidates, market acceptance and the successful commercialization of TYMLOS, or any of the Company’s investigational product candidates following receipt of regulatory approval, competition for TYMLOS or any of the Company’s investigational product candidates following receipt of regulatory approval, and the continued ability to obtain adequate financing to fund the Company’s future operations. The Company has incurred losses and expects to continue to incur additional losses for the foreseeable future. As of September 30, 2019 , the Company had an accumulated deficit of $ 1,211.9 million, and total cash, cash equivalents, restricted cash, marketable securities, and investments of $ 168.7 million . Based upon its cash, cash equivalents, marketable securities, and investments as of September 30, 2019 , the Company believes that, prior to the consideration of revenue from the potential future sales of any of its investigational product candidates that may receive regulatory approval or proceeds from partnering and/or collaboration activities, it has sufficient capital to fund its development plans, U.S. operational activities, for at least one year from the date of this filing. The Company expects to finance the future development costs of its clinical product portfolio with its existing cash and cash equivalents, marketable securities, and investments, or through strategic financing opportunities that could include, but are not limited to collaboration agreements, future offerings of its equity, or the incurrence of debt. However, there is no guarantee that any of these strategic or financing opportunities will be executed or executed on favorable terms, and some could be dilutive to existing stockholders. If the Company fails to obtain additional future capital, it may be unable to complete its planned clinical trials and obtain approval of certain investigational product candidates from the FDA or foreign regulatory authorities.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies Basis of Presentation —The accompanying unaudited condensed consolidated financial statements and the related disclosures of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial reporting and as required by Regulation S-X, Rule 10-01. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (including those which are normal and recurring) considered necessary for a fair presentation of the interim financial information have been included. When preparing financial statements in conformity with U.S. GAAP, the Company must make estimates and assumptions that affect the reported amounts of assets, liabilities, expenses and related disclosures at the date of the financial statements. Actual results could differ from those estimates. Additionally, operating results for the nine months ended September 30, 2019 are not necessarily indicative of the results that may be expected for any other interim period or for the fiscal year ending December 31, 2019 . Subsequent events have been evaluated up to the date of issuance of these financial statements. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes, which are contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 (“2018 Form 10-K”), filed with the Securities and Exchange Commission (“SEC”) on February 28, 2019 . Significant Accounting Policies —The significant accounting policies identified in the Company’s 2018 Form 10-K that require the Company to make estimates and assumptions include: revenue recognition, inventory obsolescence, long-lived assets and intangible assets, accounting for stock-based compensation, contingencies, tax valuation reserves, fair value measures, and accrued expenses. There were no changes to significant accounting policies during the nine months ended September 30, 2019 , except for the adoption of the Accounting Standards Updates (“ASU”) issued by the Financial Accounting Standards Board (“FASB”) detailed below. Accounting Standards Updates, Recently Adopted— In February 2016, the FASB issued ASU 2016-02, Leases (“ASU 2016-02”). ASU 2016-02 supersedes the lease guidance under FASB ASC Topic 840, Leases, resulting in the creation of FASB Accounting Standards Codification (“ASC”) Topic 842, Leases. ASU 2016-02 requires a lessee to recognize a liability to make lease payments and a right-of-use asset in the statement of financial position, representing its right to use the underlying asset for the lease term for both finance and operating leases. In July 2018, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, Leases (“ASU 2018-10”) and ASU No. 2018-11, Target Improvements to Topic 842, Leases (“ASU 2018-11”). The amendments in ASU 2018-10 provide additional clarification and implementation guidance on certain aspects of ASU 2016-02 and have the same effective and transition requirements as ASU 2016-02. ASU 2018-11 gives entities the option to not provide comparative period financial statements and instead apply the transition requirements as of the effective date of ASU 2016-02. ASU 2016-02, ASU 2018-10 and ASU 2018-11 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted. The Company adopted the standard effective January 1, 2019 using the optional method under ASU 2018-11 and therefore, prior period financial information has not been retrospectively adjusted. The Company applied the package of practical expedients to leases that commenced prior to the effective date whereby it elected to not reassess: (i) whether any expired or existing contracts contain leases; (ii) the lease classification for any expired or existing leases; and (iii) initial direct costs for any existing leases. The Company also elected the short-term lease recognition exemption for all leases that qualify, where a right-of-use asset or lease liability will not be recognized for short term leases. Furthermore, for all leases entered into or modified after the effective date, the Company has made an accounting policy election, by class of underlying asset, to not separate nonlease components from lease components. The Company did not elect the use-of-hindsight to estimate the lease term or to assess impairment of right-of-use assets for existing leases. As summarized in the table below, the standard had a material impact on the Company’s condensed consolidated balance sheet as of September 30, 2019 , specifically through recognition of right-of-use assets and lease liabilities for operating leases of $8.3 million on the effective date. However, the standard did not have a material impact on the Company’s condensed consolidated statement of operations and comprehensive loss, as expense for the Company’s existing operating leases continues to be recognized consistent with the recognition pattern before adoption. Consolidated Balance Sheet Data (in thousands) January 1, 2019 Prior to ASC 842 Adoption ASC 842 Adjustment January 1, 2019 As Adjusted Right of use assets - operating leases (1) $ — $ 8,289 $ 8,289 Operating lease liability, current (2) $ — $ 2,245 $ 2,245 Operating lease liability, long term (2) $ — $ 6,044 $ 6,044 (1) Represents capitalization of operating lease right of use assets. (2) Represents recognition of operating lease liabilities. The Company implemented internal controls to enable the preparation of financial information upon adoption. In June 2018, the FASB issued ASU No. 2018-07, Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting (“ASU 2018-07”). ASU 2018-07 amends ASC 718, Compensation-Stock Compensation , to expand the scope of the standard to include accounting for share-based payment transactions for acquiring goods and services from non-employees. The amendments in ASU 2018-07 are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2018. Early adoption is permitted. The Company adopted ASU 2018-07 on a prospective as of January 1, 2019, and it did not have a material impact on the Company’s condensed consolidated financial statements. In July 2018, the FASB issued ASU 2018-09, Codification Improvements , or (“ASU 2018-09”). This amendment makes changes to a variety of topics to clarify, correct errors in, or make minor improvements to the ASC. The majority of the amendments in ASU 2018-09 will be effective for the Company in annual periods beginning after December 15, 2018. The Company adopted ASU 2018-09 as of January 1, 2019 and it did not have a material impact on the Company’s condensed consolidated financial statements. On August 17, 2018, the SEC issued an amendment to Rule 3-04 of Regulation S-X, which extended the annual disclosure requirement of reporting changes in stockholders’ equity (deficit) to interim periods. Such disclosures are to be provided in a note to the financial statements or in a separate financial statement and requires both the year-to-date information and subtotals for each interim period. On September 25, 2018, the SEC issued guidance under a Compliance and Disclosure Interpretation (C&DI 105.09) to clarify the effective date of the requirement. Under the guidance in C&DI 105.09, the Company implemented this updated disclosure requirement beginning with its Form 10-Q for the first quarter of 2019, specifically by presenting the Company’s condensed consolidated statements of stockholders’ equity for interim periods. In November 2018, the FASB issued ASU 2018-18, Collaborative Arrangements (Topic 808), Clarifying the Interaction between Topic 808 and Topic 606 (“ASU 2018-18”). The amendments in ASU 2018-18 clarify that certain transactions between collaborative arrangement participants should be accounted for as revenue under ASC 606 when the collaborative arrangement participant is a customer in the context of a unit of account. The amendments under ASU 2018-18 are effective for interim and annual fiscal periods beginning after December 15, 2019, with early adoption permitted. The amendments in ASU 2018-18 should be applied retrospectively to the date of initial application of ASC 606. The Company adopted ASU 2018-18 as of January 1, 2019 and it did not have a material impact on the Company’s condensed consolidated financial statements, as each of the Company’s arrangements detailed within Note 12, “License Agreements,” were previously accounted for under ASC 606 and/or other topics of the ASC, not ASC 808, and the Company has no other arrangements within the scope of ASC 808. Accounting Standards Updates, Recently Issued— In June 2016, the FASB issued ASU 2016-13, Finan cial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires that credit losses be reported using an expected losses model rather than the incurred losses model that is currently used, and establishes additional disclosures related to credit risks. For available-for-sale debt securities with unrealized losses, this standard now requires allowances to be recorded instead of reducing the amortized cost of the investment. The amendments under ASU 2016-13 are effective for interim and annual fiscal periods beginning after December 15, 2019. The Company is currently evaluating the effects the adoption of ASU 2016-13 will have on its consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement - Disclosure Framework - Changes to the Disclosure Requirement for Fair Value Measurement , or (“ASU 2018-13”). The amendments in ASU 2018-13 modify the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement , based on the concepts in the Concepts Statement, including the consideration of costs and benefits. The amendment under ASU 2018-13 are effective for interim and annual fiscal periods beginning after December 15, 2019, with early adoption permitted. The Company does not expect the adoption of ASU 2018-13 to have a material impact on its results of operations, financial position or cash flows. In August 2018, the FASB issued ASU 2018-15, Intangible-Goodwill and Other Internal-Use Software (Subtopic 350-40 (“ASU 2018-15”). ASU 2018-15 updates guidance regarding accounting for a cloud computing arrangement that is a service contract. The amendments under ASU 2018-15 are effective for interim and annual fiscal periods beginning after December 15, 2019, with early adoption permitted. The Company does not expect the adoption of ASU 2018-15 to have a material impact on its results of operations, financial position or cash flows.

Marketable Securities

Marketable Securities	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	Marketable Securities Available-for-sale marketable securities and cash and cash equivalents as of September 30, 2019 and December 31, 2018 consist of the following (in thousands): September 30, 2019 Amortized Cost Value Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and cash equivalents: Cash $ 42,616 $ — $ — $ 42,616 Money market funds 46,309 — — 46,309 Total $ 88,925 $ — $ — $ 88,925 Marketable securities: Domestic corporate debt securities $ 47,271 $ 19 $ (1 ) $ 47,289 Domestic corporate commercial paper 16,945 4 — 16,949 Agency bonds 15,013 — — 15,013 Total $ 79,229 $ 23 $ (1 ) $ 79,251 December 31, 2018 Amortized Cost Value Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and cash equivalents: Cash $ 20,448 $ — $ — $ 20,448 Money market funds 38,873 — — 38,873 Total $ 59,321 $ — $ — $ 59,321 Marketable securities: Domestic corporate debt securities $ 132,886 $ — $ (530 ) $ 132,356 Agency bonds 45,009 — (225 ) 44,784 Total $ 177,895 $ — $ (755 ) $ 177,140 There were 5 marketable securities with an aggregate fair value of $27.0 million in an unrealized loss position for more than 12 months as of September 30, 2019 . There were 24 marketable securities with an aggregate fair value of $177.1 million in an unrealized loss position for more than 12 months as of December 31, 2018 . The Company considered the decrease in market value for these securities to be primarily attributable to current economic conditions. As it was not more likely than not that the Company would be required to sell these securities before the recovery of their amortized cost basis, which may be at maturity, the Company did not consider these investments to be other-than-temporarily impaired as of September 30, 2019 . As of September 30, 2019

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company determines the fair value of its financial instruments based upon the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Below are the three levels of inputs that may be used to measure fair value: • Level 1—Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. • Level 2—Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Transfers into or out of any hierarchy level are recognized at the end of the reporting period in which the transfers occurred. There were no material transfers between any levels during the nine months ended September 30, 2019 . There were no material transfers between any levels during 2018 . The following table summarizes the financial instruments measured at fair value on a recurring basis in the Company’s accompanying condensed consolidated balance sheets as of September 30, 2019 and December 31, 2018 (in thousands): As of September 30, 2019 Level 1 Level 2 Level 3 Total Assets Cash and cash equivalents: Cash $ 42,616 $ — $ — $ 42,616 Money market funds (1) 46,309 — — 46,309 Total $ 88,925 $ — $ — $ 88,925 Marketable Securities Domestic corporate debt securities (2) $ — $ 47,289 $ — $ 47,289 Domestic corporate commercial paper (2) — 16,949 — 16,949 Agency bonds (2) — 15,013 — 15,013 Total $ — $ 79,251 $ — $ 79,251 As of December 31, 2018 Level 1 Level 2 Level 3 Total Assets Cash and cash equivalents: Cash $ 20,448 $ — $ — $ 20,448 Money market funds (1) 38,873 — — 38,873 Total $ 59,321 $ — $ — $ 59,321 Marketable Securities Domestic corporate debt securities (2) $ — $ 132,356 $ — $ 132,356 Agency bonds (2) — 44,784 — 44,784 Total $ — $ 177,140 $ — $ 177,140 (1) Fair value is based upon quoted market prices. (2)

Inventory

Inventory	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory consisted of the following as of September 30, 2019 and December 31, 2018 (in thousands): September 30, December 31, Raw materials $ 3,858 $ 4,961 Work in process 44 490 Finished goods 1,009 759 Total inventories $ 4,911 $ 6,210 Finished goods manufactured by the Company have a 36 -month shelf life from date of manufacture.

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets The following table presents intangible assets as of September 30, 2019 and December 31, 2018 (in thousands): September 30, December 31, Estimated useful life Acquired and in-licensed rights $ 8,712 $ 8,712 11 years Less: accumulated amortization (1,929 ) (1,330 ) Total intangible asset, net $ 6,783 $ 7,382 Acquired and in-licensed rights as of September 30, 2019 consist of the €8.0 million (approximately $8.7 million on the date paid) milestone paid to Ipsen, which was triggered by FDA approval of TYMLOS on April 28, 2017. The Company recorded approximately $0.2 million and $0.6 million in amortization expense related to intangible assets, using the straight-line methodology, which is considered the best estimate of economic benefit, during the three and nine months ended September 30, 2019 and 2018, respectively. Estimated future amortization expense for intangible assets as of September 30, 2019 is approximately $0.2 million for the remainder of 2019 , and approximately $0.8 million per year over the remaining life of 8.5 years.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
	Sep. 30, 2019
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following for the periods set forth below (in thousands): September 30, December 31, Commercial costs $ 3,179 $ 2,884 Product revenue reserves 18,561 7,620 Royalty payable 2,352 1,735 Research and development costs 9,329 10,403 Payroll and employee benefits 10,275 12,230 Interest 763 3,050 Professional fees 4,516 3,465 Restructuring costs 12 613 Other current liabilities 95 203 Total accrued expenses and other current liabilities $ 49,082 $ 42,203

Convertible Notes Payable

Convertible Notes Payable	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Convertible Notes Payable	Convertible Notes Payable On August 14, 2017, in a registered underwritten public offering, the Company issued $300 million aggregate principal amount of 3% Convertible Senior Notes due September 1, 2024 (the “Convertible Notes”). In addition, on September 12, 2017, the Company issued an additional $5.0 million principal amount of Convertible Notes pursuant to the exercise of an over-allotment option granted to the underwriters in the offering. In accordance with accounting guidance for debt with conversion and other options, the Company separately accounted for the liability component (“Liability Component”) and embedded conversion option (the “Equity Component”) of the Convertible Notes by allocating the proceeds between the Liability Component and the Equity Component, due to the Company’s ability to settle the Convertible Notes in cash, common stock or a combination of cash and common stock, at its option. In connection with the issuance of the Convertible Notes, the Company incurred approximately $9.4 million of debt issuance costs, which primarily consisted of underwriting, legal and other professional fees, and allocated these costs to the Liability and Equity Components based on the allocation of the proceeds. Of the total $9.4 million of debt issuance costs, $4.3 million was allocated to the Equity Component and recorded as a reduction to additional paid-in capital and $5.1 million was allocated to the liability component and is now recorded as a reduction of the Convertible Notes in the Company’s condensed consolidated balance sheet. The portion allocated to the liability component is amortized to interest expense using the effective interest method over seven years . The Convertible Notes are senior unsecured obligations of the Company and bear interest at a rate of 3.00% per annum, payable semi-annually in arrears on March 1 and September 1, beginning on March 1, 2018. Upon conversion, the Convertible Notes will be convertible into cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election. Prior to December 31, 2017, the Convertible Notes were not convertible except in connection with a make whole fundamental change, as defined in the respective indentures. The Convertible Notes will be subject to redemption at the Company’s option, on or after September 1, 2021, in whole or in part, if the conditions described below are satisfied. The Convertible Notes will mature on September 1, 2024, unless earlier converted, redeemed or repurchased in accordance with their terms. Subject to satisfaction of certain conditions and during the periods described below, the Convertible Notes may be converted at an initial conversion rate of 20.4891 shares of common stock per $1,000 principal amount of the Convertible Notes (equivalent to an initial conversion price of approximately $48.81 per share of common stock). Holders of the Convertible Notes may convert all or any portion of their notes, in multiples of $1,000 principal amount, at their option at any time prior to the close of business on the business day immediately preceding June 1, 2024 only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on December 31, 2017 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether consecutive or not) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five -business day period after any five -consecutive trading day period (the “measurement period”) in which the “trading price” per $1,000 principal amount of the Convertible Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on each such trading day; (3) if the Company calls the Convertible Notes for redemption, until the close of business on the business day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate events. As of September 30, 2019 , none of the above circumstances had occurred and, as such, the Convertible Notes were not convertible. Prior to September 1, 2021, the Company may not redeem the Convertible Notes. On or after September 1, 2021, the Company may redeem for cash all or part of the Convertible Notes if the last reported sale price of the Company’s common stock equals or exceeds 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 -consecutive trading day period ending within five trading days prior to the date on which the Company provides notice of the redemption. The redemption price will be the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. In addition, calling any Convertible Note for redemption will constitute a make-whole fundamental change with respect to that Convertible Note, in which case the conversion rate applicable to the conversion of that Convertible Note, if it is converted in connection with the redemption, will be increased in certain circumstances. The initial carrying amount of the Liability Component of $166.3 million was calculated by measuring the fair value of a similar liability that does not have an associated convertible feature. The allocation was performed in a manner that reflected the Company’s non-convertible debt borrowing rate for similar debt. The Equity Component of the Convertible Notes of $138.7 million was recognized as a debt discount and represents the difference between the proceeds from the issuance of the Convertible Notes of $305.0 million and the fair value of the Liability of the Convertible Notes of approximately $166.3 million on their respective dates of issuance. The excess of the principal amount of the Liability Component over its carrying amount (the “Debt Discount”) is amortized to interest expense using the effective interest method over seven years . The Equity Component is not remeasured as long as it continues to meet the conditions for equity classification. In connection with issuance of the Convertible Notes, the Company also incurred certain offering costs directly attributable to the offering. Such costs are deferred and amortized over the term of the debt to interest expense using the effective interest method. A portion of the deferred financing costs incurred in connection with the Convertible Notes was deemed to relate to the Equity Component and was allocated to additional paid-in capital. The outstanding balances of the Convertible Notes as of September 30, 2019 consisted of the following (in thousands): 2024 Convertible Notes Liability component: Principal $ 305,000 Less: debt discount and issuance costs, net $ (113,556 ) Net carrying amount $ 191,444 Equity component: $ 134,450 The Company determined the expected life of the Convertible Notes was equal to its seven -year term. The effective interest rate on the Liability Components of the Convertible Notes for the period from the date of issuance through September 30, 2019 was 13.04% . As of September 30, 2019 , the “if-converted value” did not exceed the remaining principal amount of the Convertible Notes. The fair values of the Convertible Notes are based on data from readily available pricing sources which utilize market observable inputs and other characteristics for similar types of instruments, and, therefore, the Convertible Notes are classified within Level 2 in the fair value hierarchy. The fair value of the Convertible Notes, which differs from their carrying value, is influenced by interest rates, the Company’s stock price and stock price volatility. The estimated fair value of the Convertible Notes as of September 30, 2019 was approximately $278.8 million . The following table sets forth total interest expense recognized related to the Convertible Notes during the three and nine months ended September 30, 2019 and 2018 (in thousands): Three Months Ended Nine Months Ended 2019 2018 2019 2018 Contractual interest expense $ 2,288 $ 2,287 $ 6,863 $ 6,863 Amortization of debt discount 3,865 3,379 11,216 9,804 Amortization of debt issuance costs 145 127 421 370 Total interest expense $ 6,298 $ 5,793 $ 18,500 $ 17,037 Future minimum payments on the Company’s long-term debt as of September 30, 2019 are as follows (in thousands): Years ended December 31, Future Minimum Payments 2019 $ — 2020 9,150 2021 9,150 2022 9,150 2023 9,150 2024 and Thereafter 314,150 Total minimum payments $ 350,750 Less: interest (45,750 ) Less: unamortized discount (113,556 ) Less: current portion — Long Term Debt $ 191,444

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock Options A summary of stock option activity during the nine months ended September 30, 2019 is as follows (in thousands, except for per share amounts): Shares Weighted- Average Exercise Price (in dollars per share) Weighted- Average Contractual Life (in years) Aggregate Intrinsic Value Options outstanding at December 31, 2018 5,463 $ 36.88 Granted 1,044 19.72 Exercised (341 ) 8.40 Canceled (499 ) 33.99 Expired (806 ) 40.15 Options outstanding at September 30, 2019 4,861 $ 34.94 7.39 $ 11,716 Options exercisable at September 30, 2019 2,810 $ 39.87 6.40 $ 4,900 The weighted-average grant-date fair value per share of options granted during the three and nine months ended September 30, 2019 was $14.35 and $12.87 , respectively. As of September 30, 2019 , there was approximately $30.0 million of total unrecognized compensation expense related to unvested stock options, which is expected to be recognized over a weighted-average period of approximately 2.50 years. Restricted Stock Units A summary of RSU activity during the nine months ended September 30, 2019 is as follows (in thousands, except for per share amounts): RSUs Weighted- Average Grant Date Fair Value (in dollars per share) RSUs Outstanding at December 31, 2018 227 $ 37.69 Granted 613 20.04 Vested (75 ) 38.59 Forfeited (110 ) 26.35 RSUs Outstanding at September 30, 2019 655 $ 22.93 As of September 30, 2019 , there was approximately $12.1 million of total unrecognized compensation expense related to unvested RSUs, which is expected to be recognized over a weighted-average period of approximately 2.74 years. Performance Units During the nine months ended September 30, 2019 , the Company awarded 79,000 performance restricted stock units (“PSUs”) to employees. Each PSU entitles the holder to receive one share of the Company’s common stock if and when the PSU vests. The PSUs vest upon achievement of certain performance targets within a pre-specified period from the grant date. The vesting of any earned units is subject to the employee’s continued service relationship with the Company through each vesting date. A summary of PSU activity during the nine months ended September 30, 2019 is as follows (in thousands, except for per share amounts): PSUs Weighted- Average Grant Date Fair Value (in dollars per share) PSUs Outstanding at December 31, 2018 — $ — Granted 79 19.20 Vested — — Forfeited — — PSUs Outstanding at September 30, 2019 79 $ 19.20 As the performance condition must be met for the awards to vest, compensation cost will be recognized over the implicit service period and only if the performance condition is assessed as probable of achievement. As of September 30, 2019 , the performance condition was not probable and, therefore, no expense recognized to date. Employee Stock Purchase Plan In September 2016, the Company initiated the first offering period under the Company’s 2016 Employee Stock Purchase Plan (the “ESPP”), pursuant to which eligible employees may purchase shares of the Company’s common stock on the last day of each predetermined six -month offering period at 85% of the lower of the fair market value per share at the beginning or end of the applicable offering period. The offering periods run from March 1 through August 31 and from September 1 through February 28 (or February 29, in a leap year) of each year. As of September 30, 2019 , the Company had recorded a liability of $0.2 million related to its ESPP obligations. In accordance with the terms of its ESPP, the Company recorded stock-based compensation expense of $20 thousand and $ 0.5 million for the three and nine -month periods ended September 30, 2019 respectively. The company recorded stock compensation expense of $ 0.2 million and $ 0.6 million for the three and nine month periods ended September 30, 2018, respectively.

Product Revenue Reserves and Al

Product Revenue Reserves and Allowances	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Product Revenue Reserves and Allowances	Product Revenue Reserves and Allowances To date, the Company’s only source of product revenue has been from the U.S. sales of TYMLOS, which it began shipping to customers in May 2017. The following table summarizes activity in each of the product revenue allowance and reserve categories for the nine months ended September 30, 2019 and 2018 (in thousands): Chargebacks, Discounts, and Fees Government and other rebates Returns Total Ending balance at December 31, 2017 $ 1,986 $ 1,231 $ 421 $ 3,638 Provision related to sales in the current year 9,750 15,350 229 25,329 Adjustments related to prior period sales (76 ) (106 ) (111 ) (293 ) Credits and payments made (8,971 ) (9,257 ) (236 ) (18,464 ) Ending balance at September 30, 2018 $ 2,689 $ 7,218 $ 303 $ 10,210 Ending balance at December 31, 2018 $ 3,198 $ 7,620 $ 411 $ 11,229 Provision related to sales in the current year 21,203 44,426 698 66,327 Adjustments related to prior period sales (27 ) 697 — 670 Credits and payments made (19,759 ) (34,190 ) (575 ) (54,524 ) Ending balance at September 30, 2019 $ 4,615 $ 18,553 $ 534 $ 23,702 Chargebacks, discounts, fees, and returns are recorded as reductions of trade receivables, net on the condensed consolidated balance sheets. Government and other rebates are recorded as a component of accrued expenses and other current liabilities on the condensed consolidated balance sheets.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share Basic and diluted net loss per share for the periods set forth below is calculated as follows (in thousands, except share and per share amounts): Three Months Ended Nine Months Ended 2019 2018 2019 2018 Numerator: Net loss $ (30,044 ) $ (49,802 ) $ (108,278 ) $ (180,239 ) Denominator: Weighted-average number of common shares used in loss per share - basic and diluted 46,141,217 45,498,909 45,975,691 45,291,176 Loss per share - basic and diluted $ (0.65 ) $ (1.09 ) $ (2.36 ) $ (3.98 ) The following potentially dilutive securities, prior to the use of the treasury stock method, have been excluded from the computation of diluted weighted-average shares outstanding, as they would be anti-dilutive. For the three and nine months ended September 30, 2019 and 2018 , respectively, all the Company’s options to purchase common stock, warrants, and restricted stock units outstanding were assumed to be anti-dilutive as earnings attributable to common stockholders was in a loss position. Three and Nine Months Ended September 30, 2019 2018 Options to purchase common stock 4,860,997 5,759,140 Warrants — 120,532 Restricted stock units 655,723 262,002 Performance units 79,000 — The Company has the option to settle the conversion obligation for the Convertible Notes in cash, shares or any combination of the two. As the Convertible Notes are not convertible as of September 30, 2019 , they are not participating securities and they will not have an impact on the calculation of basic earnings or loss per share. Based on the Company’s net loss position, there is no impact on the calculation of dilutive loss per share during the three and nine -month periods ended September 30, 2019 and 2018

License Agreements

License Agreements	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
License Agreements	License Agreements 3M In February 2018, the Company entered into a Scale-Up And Commercial Supply Agreement (the “Supply Agreement”) with 3M Company and 3M Innovative Properties Company (collectively with 3M Company, “3M”), pursuant to which 3M agreed to exclusively manufacture Phase 3 and global commercial supplies of an abaloparatide-coated transdermal patch product (“Product”) and associated applicator devices (“Applicator”). Under the Supply Agreement, 3M will manufacture Product and Applicator for the Company according to agreed-upon specifications in sufficient quantities to meet the Company’s projected supply requirements. 3M will manufacture commercial supplies of Product at unit prices that decrease with an increase in the quantity the Company orders. The Company will pay 3M a mid-to-low single-digit royalty on worldwide net sales of Product and reimburse 3M for certain capital expenditures incurred to establish commercial supply of Product. The Company is responsible for providing, at its expense, supplies of abaloparatide drug substance to be used in manufacturing Product. During the term of the Supply Agreement, 3M and the Company have agreed to work exclusively with each other with respect to the delivery of abaloparatide, parathyroid hormone (“PTH”), and/or PTH related proteins via active transdermal, intradermal, or microneedle technology. The initial term of the Supply Agreement began on its effective date, February 27, 2018 , and will continue for five years after the first commercial sale of Product. The Supply Agreement then automatically renews for successive three -year terms, unless earlier terminated pursuant to its terms or upon either party’s notice of termination to the other 24 months prior to the end of the then-current term. The Supply Agreement may be terminated by either party upon an uncured material breach of its terms by the other party, or due to the other party’s bankruptcy, insolvency, or dissolution. The Company may terminate the Supply Agreement upon the occurrence of certain events, including for certain clinical, technical, or commercial reasons impacting Product, if it is unable to obtain U.S. regulatory approval for Product within a certain time period, or if it ceases development or commercialization of Product. 3M may terminate the Supply Agreement upon the occurrence of certain events, including if there are certain safety issues related to Product, if the Company is unable to obtain U.S. regulatory approval for Product within a certain time period, or if the Company fails to order Product for a certain period of time after commercial launch of the Product in the U.S. Upon certain events of termination, 3M is required to transfer the manufacturing processes for Product and Applicator to the Company or a mutually agreeable third party and continue supplying Product and Applicator for a period of time pursuant to the Company’s projected supply requirements. In partnership with 3M, the Company selected Thermo Fisher to conduct the abaloparatide-patch coating process and packaging operations. In October 2018, the Company committed to fund 3M’s purchase of capital equipment totaling approximately $9.6 million in preparation for manufacturing Phase 3 and potential commercial supplies of Product. Milestone payments for the equipment commenced in the fourth quarter of 2018 and are expected to be completed in the third quarter of 2020. In addition, there are cancellable purchase commitments in place to fund the facility build out and future purchases of capital equipment. The Company has paid 3M approximately $11.3 million , in the aggregate, through September 30, 2019 with respect to performance under the Supply Agreement. In June 2009, the Company entered into a Development and Clinical Supplies Agreement with 3M, as amended (the “Development Agreement”), under which Product and Applicator development activities occur and 3M has manufactured phase 1 and 2 clinical trial supplies on an exclusive basis. The initial term of the Development Agreement remained in effect until June 2019, after which it automatically renews for successive one -year terms, unless earlier terminated, until the earliest of (i) the expiration or termination of the Supply Agreement, (ii) the mutual written agreement of the parties, or (iii) prior written notice by either party to the other party at least ninety days prior to the end of the then-current term of the Development Agreement that such party declines to extend the term. Either party may terminate the agreement in the event of an uncured material breach by the other party. The Company pays 3M for services delivered pursuant to the agreement on a fee-for-service or a fee-for-deliverable basis as specified in the agreement. The Company has paid 3M approximately $28.3 million , in the aggregate, through September 30, 2019 with respect to services and deliverables delivered pursuant to the Development Agreement. Ipsen In September 2005, the Company entered into a license agreement (the “License Agreement”), as amended, with an affiliate of Ipsen Pharma SAS (“Ipsen”) under which the Company exclusively licensed certain Ipsen compound technology and related patents covering abaloparatide to research, develop, manufacture, and commercialize certain compounds and related products in all countries, except Japan (where the Company has an option to negotiate a co-promotion agreement for abaloparatide-SC) and France (where the Company’s commercialization rights were subject to certain co-marketing and co-promotion rights exercisable by Ipsen, provided that certain conditions included in the License Agreement were met). The Company believes that Ipsen’s co-marketing and co-promotion rights in France have permanently expired. Ipsen also granted the Company an exclusive right and license under the Ipsen compound technology and related patents to make, and have made, compounds or products in Japan. Ipsen further granted the Company an exclusive right and license under certain Ipsen formulation technology and related patents solely for purposes of enabling the Company to develop, manufacture, and commercialize compounds and products covered by the compound technology license in all countries, except Japan and France (as discussed above). In consideration for these rights, to date, the Company has made nonrefundable, non-creditable payments in the aggregate of $13.0 million to Ipsen, including payment in recognition of certain milestones having been achieved through September 30, 2019 . The License Agreement provides for further payments upon the achievement of certain future regulatory and commercial milestones. Total additional milestone payments that could be payable under the agreement are €24.0 million (approximately $26.2 million ). In connection with the FDA’s approval of TYMLOS in April 2017, the Company paid Ipsen a milestone of €8.0 million (approximately $8.7 million on the date paid) under the License Agreement, which the Company recorded as an intangible asset within the condensed consolidated balance sheet and will amortize over the remaining patent life or the estimated useful life of the underlying product. The agreement also provides that the Company will pay to Ipsen a fixed five percent royalty based on net sales of the product by the Company or its sublicensees on a country-by-country basis until the later of the last to expire of the licensed patents or for a period of 10 years after the first commercial sale in such country. The royalty expense was $2.3 million and $5.9 million for the three and nine months ended September 30, 2019 and is included within cost of sales within the condensed consolidated statement of operation and comprehensive loss. For the three and nine months ended September 30, 2018, the royalty expense was $1.4 million and $3.2 million , respectively. The date of the last to expire of the abaloparatide patents licensed from or co-owned with Ipsen, barring any extension thereof, is expected to be March 26, 2028. If the Company sublicenses abaloparatide to a third party, then the agreement provides that the Company would pay Ipsen a percentage of certain payments received from such sublicensee (in lieu of milestone payments not achieved at the time of such sublicense). The applicable percentage is in the low double-digit range. In addition, if the Company or its sublicensees commercialize a product that includes a compound discovered by it based on or derived from confidential Ipsen know-how, then the agreement provides that the Company would pay to Ipsen a fixed low single-digit royalty on net sales of such product on a country-by-country basis until the later of the last to expire of licensed patents that cover such product or for a period of 10 years after the first commercial sale of such product in such country. The License Agreement expires on a country-by-country basis on the later of (1) the date the last remaining valid claim in the licensed patents expires in that country, or (2) a period of 10 years after the first commercial sale of the licensed products in such country, unless it is sooner terminated in accordance with its terms. Pursuant to a June 2018 final decision in arbitration proceedings with Ipsen in connection with the License Agreement, the Company paid Ipsen $10.0 million (and pre-award interest of $0.8 million ) and is obligated to pay Ipsen (i) $5.0 million if abaloparatide receives marketing approval in Japan, and (ii) a fixed mid single-digit royalty based on net sales of abaloparatide in Japan. The Company recorded the $10.8 million payment to other operating expenses in its condensed consolidated statement of operations and comprehensive loss in the second quarter of 2018. The $5.0 million payment upon abaloparatide receiving marketing approval in Japan will be accrued for in the period in which the approval is determined to be probable. Royalties based on net sales of abaloparatide in Japan will be accrued during the period that revenue for such sales, which is subject to a royalty arrangement, is recognized and will be presented as cost of sales within the Company’s condensed consolidated statement of operations and comprehensive loss. The arbitration decision does not impact the Company’s rights under the License Agreement or its license agreement with Teijin for abaloparatide-SC in Japan, under which the Company previously received a $10.0 million upfront payment and is entitled to receive up to an aggregate of $40.0 million upon the achievement of certain regulatory and sales milestones, and a fixed low double-digit royalty based on net sales of abaloparatide-SC in Japan, and has an option to negotiate for a co-promotion agreement with Teijin for abaloparatide-SC in Japan. Eisai Co. Ltd. In June 2006, the Company entered into a license agreement (the “Eisai Agreement”), with Eisai Co. Ltd. (“Eisai”). Under the Eisai Agreement, Eisai granted to the Company an exclusive right and license to research, develop, manufacture and commercialize elacestrant (RAD1901) and related products from Eisai in all countries, except Japan. In consideration for the rights to elacestrant, the Company paid Eisai an initial license fee of $0.5 million , which was expensed during 2006. In March 2015, the Company entered into an amendment to the Eisai Agreement (the “Eisai Amendment”) in which Eisai granted to the Company the exclusive right and license to research, develop, manufacture and commercialize elacestrant in Japan. In consideration for the rights to elacestrant in Japan, the Company paid Eisai an initial license fee of $0.4 million upon execution of the Eisai Amendment, which was recognized as research and development expense in 2015. The Eisai Agreement, as amended, also provides for additional payments of up to $22.3 million , payable upon the achievement of certain clinical and regulatory milestones. To date, the Company has paid Eisai approximately $1.0 million in connection with the achievement of certain milestones. Under the Eisai Agreement, as amended, should a product covered by the licensed technology be commercialized, the Company will be obligated to pay to Eisai royalties in a variable mid-single digit range based on net sales of the product on a country-by-country basis. The royalty rate will be reduced, on a country-by-country basis, at such time as the last remaining valid claim in the licensed patents expires, lapses or is invalidated and the product is not covered by data protection clauses. In addition, the royalty rate will be reduced, on a country-by-country basis, if, in addition to the conditions specified in the previous sentence, sales of lawful generic versions of such product account for more than a specified minimum percentage of the total sales of all products that contain the licensed compound during a calendar quarter. The latest licensed patent is expected to expire, barring any extension thereof, on August 18, 2026. The Eisai Agreement, as amended, also grants the Company the right to grant sublicenses with prior written approval from Eisai. If the Company sublicenses the licensed technology to a third party, the Company will be obligated to pay Eisai, in addition to the milestones referenced above, a fixed low double-digit percentage of certain fees received from such sublicensee and royalties in the low single-digit range based on net sales of the sublicensee. The Eisai Agreement expires on a country-by-country basis on the later of (1) the date the last remaining valid claim in the licensed patents expires, lapses or is invalidated in that country, the product is not covered by data protection clauses, and the sales of lawful generic versions of the product account for more than a specified percentage of the total sales of all pharmaceutical products containing the licensed compound in that country; or (2) a period of 10 years after the first commercial sale of the licensed products in such country, unless it is sooner terminated. Duke University In December 2017, the Company and Duke University (“Duke”) entered into a patent license agreement (the “Duke Agreement”). Under the Duke Agreement, the Company acquired an exclusive worldwide license to certain Duke patents associated with elacestrant related to the use of elacestrant in the treatment of breast cancer as a monotherapy and in a combination therapy (collectively the “Duke Patents”). In consideration for these rights, the Company incurred non-refundable, non-creditable obligations to pay Duke, totaling $1.3 million in the aggregate, which were expensed as research and development costs during 2017. The Duke Agreement provides for further payments upon the achievement of certain future regulatory and commercial milestones totaling up to $3.8 million . To date, the Company has paid Duke approximately $0.5 million in connection with the achievement of certain milestones. The agreement provides that the Company would pay Duke a fixed low single-digit royalty based on net sales of a licensed product, on a country-by-country basis, beginning in August 2029 and ending upon expiration of the last patent rights to expire in a country. The latest licensed patent is expected to expire, barring any extension thereon, on October 10, 2034. If the Company sublicenses the Duke Patents to a third party, the agreement provides that the Company will pay Duke a percentage of certain payments received by it from such sublicensee(s). The applicable percentage is in the high single-digit range on certain payments received in excess of a pre-specified amount. The Duke Agreement may be terminated by Duke upon a material uncured breach of the Duke Agreement. The Company may terminate the Duke Agreement upon 60 days written notice. Teijin Limited In July 2017, the Company entered into a license and development agreement (the “Teijin Agreement”) with Teijin Limited (“Teijin”) for abaloparatide-SC in Japan. Pursuant to the Teijin Agreement, the Company granted Teijin: (i) an exclusive payment-bearing license under certain of the Company’s intellectual property to develop and commercialize abaloparatide-SC in Japan, (ii) a non-exclusive payment-bearing license under certain of the Company’s intellectual property to manufacture abaloparatide-SC for commercial supply in Japan, (iii) a right of reference to certain of the Company’s regulatory data related to abaloparatide-SC for purposes of developing, manufacturing and commercializing abaloparatide-SC in Japan, (iv) a manufacture transfer package, upon Teijin’s request, consisting of information and the Company’s know-how that is necessary for the manufacture of active pharmaceutical ingredient and abaloparatide-SC, (v) a right to request that the Company manufacture (or arrange for a third party to manufacture) and supply (or arrange for a third party to supply) the active pharmaceutical ingredient for the clinical supply of abaloparatide-SC in sufficient quantities to enable Teijin to conduct its clinical trials in Japan, and (vi) a right to request that the Company arrange for Teijin to directly enter into commercial supply agreements with the Company’s existing contract manufacturers on the same pricing terms and on substantially similar commercial terms to those set forth in the Company’s existing agreements with such contract manufacturers. In consideration for these rights, the Company received an upfront payment of $10.0 million , and may receive further payments upon the achievement of certain regulatory and sales milestones, as well as a fixed low double-digit royalty based on net sales of abaloparatide-SC in Japan during the royalty term, as defined below. In addition, the Company has an option to negotiate a co-promotion agreement with Teijin for abaloparatide-SC in Japan upon commercialization. Pursuant to the Teijin Agreement, the parties may further collaborate on new indications for abaloparatide-SC, and the Company also maintains full global rights to its development program for abaloparatide-patch, which is not part of the Teijin Agreement. Unless earlier terminated, the Teijin Agreement expires on the later of the (i) date on which the use, sale or importation of abaloparatide-SC is no longer covered by a valid claim under the Company’s patent rights licensed to Teijin in Japan, (ii) expiration of marketing or data exclusivity for abaloparatide-SC in Japan, or (iii) 10th anniversary of the first commercial sale of abaloparatide-SC in Japan. The Company assessed this arrangement in accordance with ASC 606 and concluded that the contract counterparty, Teijin, is a customer. The Company identified the following material promises under the contract: the commercialization and manufacturing licenses under certain intellectual property rights relating to abaloparatide-SC in Japan, as well as the right of reference to certain regulatory information. In addition, the Company identified the following customer option that would create an obligation for the Company if exercised by Teijin: the transfer of manufacturing know-how. The customer option for the transfer of manufacturing know-how represents a material right. Finally, the Company also identified the following customer option that would create a manufacturing obligation for the Company if exercised by Teijin: the supply of abaloparatide-SC for Teijin’s clinical trial needs. The customer option for clinical supply of abaloparatide-SC does not represent a material right. Based on these assessments, the Company identified the (i) commercialization and manufacturing licenses, as well as the right of reference to certain regulatory information, and (ii) transfer of manufacturing know-how as the only performance obligations at the inception of the arrangement, which were both deemed to be distinct. The Company further determined that the up-front payment of $10.0 million constituted the entirety of the consideration to be included in the transaction price, which was allocated to the performance obligations based on the Company’s best estimate of their relative stand-alone selling prices. For the commercialization and manufacturing licenses, including the right of reference to certain regulatory information, the stand-alone selling price was calculated using the expected cost approach by leveraging the direct costs incurred by the Company in its recently completed ACTIVExtend Phase 3 clinical trial for abaloparatide-SC, plus an estimated inflation rate. The stand-alone selling price of the transfer of manufacturing know-how was computed using a cost-plus margin approach reflecting the level of effort required, which can be reasonably estimated to be incurred over the performance period, multiplied by a fully-burdened internal labor rate plus an expected margin. Based on the estimates of the stand-alone selling prices for each of the performance obligations, as referenced above, the Company determined that substantially all of the $10.0 million transaction price should be allocated to the performance obligation for the commercialization and manufacturing licenses, including the right of reference to certain regulatory information. The consideration allocated to the performance obligation for the transfer of manufacturing know-how was immaterial. The Company believes that a change in the assumptions used to determine its best estimate of the selling price for the commercialization and manufacturing licenses, including the right of reference to certain regulatory information, would not have a significant effect on the allocation of the underlying consideration to the performance obligations. Upon execution of the Teijin Agreement, the transaction price included only the $10.0 million up-front payment which the Company received in October 2017. As referenced above, the Company may receive further payments upon the achievement of certain regulatory and sales milestones, totaling up to $40.0 million , as well as a fixed low double-digit royalty based on net sales of abaloparatide-SC in Japan during the royalty term. The Company notes that these milestone and royalty payments represent variable consideration and amounts subject to the sales and usage-based royalty exception under ASC 606, respectively. The regulatory milestone payments representing variable consideration were fully constrained through September 30, 2019

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company did not record a federal or state income tax provision or benefit for each of the nine months ended September 30, 2019 and 2018 due to the expected loss before income taxes to be incurred for the years ended December 31, 2019 and 2018

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation From time to time, the Company may become subject to legal proceedings and claims which arise in the ordinary course of its business. The Company records a liability in its condensed consolidated financial statements for these matters when a loss is known or considered probable and the amount can be reasonably estimated. The Company reviews these estimates each accounting period as additional information is known and adjusts the loss provision when appropriate. If a matter is both probable to result in a liability and the amounts of loss can be reasonably estimated, the Company estimates and discloses the possible loss or range of loss to the extent necessary to make the condensed consolidated financial statements not misleading. If the loss is not probable or cannot be reasonably estimated, a liability is not recorded in its consolidated financial statements. As of September 30, 2019 , the Company was not party to any significant litigation. Manufacturing Agreements In June 2016, the Company entered into a Supply Agreement with Ypsomed AG (“Ypsomed”), pursuant to which Ypsomed agreed to supply commercial and clinical supplies of a disposable pen injection device customized for subcutaneous injection of abaloparatide. The Company has agreed to purchase a minimum number of devices at prices per device that decrease with an increase in quantity supplied. In addition, the Company has agreed to make milestone payments for Ypsomed’s capital developments in connection with the initiation of the commercial supply of the device and to pay a one-time capacity fee. All costs and payments under the agreement are delineated in Swiss Francs. The agreement has an initial term of three years , which began on June 1, 2017, after which it automatically renews for two -year terms unless either party terminates the agreement upon 18 months’ notice prior to the end of the then-current term. The Company will purchase the devices subject to minimum annual quantity requirements over the initial three -year term of the agreement. The Company is required to purchase a minimum number of batches for CHF 2.4 million (approximately $2.4 million ) through the year ended December 31, 2022. In June 2016, the Company entered into a Commercial Supply Agreement with Vetter Pharma International GmbH (“Vetter”), pursuant to which Vetter has agreed to formulate the finished abaloparatide-SC drug product containing the active pharmaceutical ingredient of abaloparatide API, to fill cartridges with the drug product, to assemble the pen delivery device, and to package the pen for commercial distribution. The Company agreed to purchase the cartridges and pens in specified batch sizes at a price per unit. For labeling and packaging services, the Company agreed to pay a per unit price dependent upon the number of pens loaded with cartridges that are labeled and packaged. These prices are subject to an annual price adjustment. The agreement has an initial term of five years , which began on January 1, 2016, after which, it automatically renews for two -year terms unless either party notifies the other party two years before the end of the then-current term that it does not intend to renew. In July 2016, the Company entered into a Manufacturing Services Agreement with Polypeptide Laboratories Holding AB (“PPL”), as successor-in-interest to Lonza Group Ltd., pursuant to which PPL agreed to manufacture the commercial and clinical supplies of the API for abaloparatide. The Company agreed to purchase the API in batches at a price per gram in euros, subject to an annual increase by PPL. The agreement has an initial term of six years , which began on June 28, 2016, after which, it automatically renews for three -year terms unless either party provides notice of non-renewal 24 months before the end of the then-current term. The Company is also required to purchase a minimum number of batches annually, equal to approximately €2.9 million (approximately $3.2 million

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Leases The Company determines if an arrangement is a lease at inception. For operating leases, amounts recorded in connection therewith are included in right-of-use assets and lease liabilities in the condensed consolidated balance sheets. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the leases and are recognized on the lease commencement date based on the present value of lease payments over the lease term. As the Company’s leases have not historically provided an implicit rate, the Company’s incremental borrowing rate based on information available at the commencement date is used in determining the present value of lease payments. However, the implicit rate is used when readily determinable. The operating lease right-of-use assets also include any lease payments made and excludes lease incentives. Options to extend the lease term or terminate the leases are incorporated into the determination of the lease term if it is reasonably certain that the Company will exercise such options based on assessment of economic factors, such as contractual terms, market rates and locations, and costs associated with negotiation of new leases or termination of leases. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. In addition, as a practical expedient, for all leases entered into or modified after the effective date of ASC 842, the Company, as the lessee, has made an accounting policy election, by class of underlying asset, to not separate nonlease components from lease components. The Company will account for each separate lease component and the nonlease components associated with that lease component as a single lease component. The Company has operating leases for corporate offices in Waltham, MA, Wayne, PA and Parsippany, NJ and for research laboratories in Boston, MA. These leases have remaining lease terms of less than one year to six years , some of which include options to extend the leases for additional years, and of which includes the option to terminate the lease upon default by the Company. The options to extend and terminate the leases were not incorporated into the determination of the lease term as the exercise of such options was not reasonably certain at the lease commencement date based on assessment of economic factors. In addition to the operating leases, the Supply Agreement with 3M is a multiple-element arrangement covering Phase 3 clinical materials and related services, potential commercial materials, and potential future royalty payments, as well as the construction of certain equipment, an isolator, to be used in the manufacture of the Phase 3 and potential commercial supplies of Product. The contractually stated cost of the isolator, as well as the costs of the other elements, represent the estimated standalone selling price and, therefore, no initial allocation was required to separate the cost of the isolator from the other elements. Under ASC 840, Leases , which was the standard under which the Company accounted for leases through December 31, 2018 , the Company was considered the accounting owner of the isolator equipment during construction and costs were recognized to research and development expense as incurred through December 31, 2018 , since the equipment was assessed to not have alternative future use to the Company. Upon transition to ASC 842 on January 1, 2019, the Company continues to control the isolator during construction and costs will be recognized to research and development expense as incurred, which is expected to be completed in 2020, since the equipment was again assessed to not have alternative future use to the Company and/or 3M. On March 27, 2018 the Company announced organizational changes which included the closure of its Parsippany, NJ office, and on January 4, 2019, the Company ceased use of the office, triggering an impairment assessment. In connection with this assessment, the Company recorded an impairment loss of $0.3 million during the nine months ended September 30, 2019 . The Company’s operating leases also include such costs as real estate taxes and common area maintenance charges. Such amounts have been recorded as variable lease costs within the condensed consolidated statement of operations. During the three and nine months ended September 30, 2019 , the components of lease expense were as follows (in thousands): Three months ended Nine months ended September 30, 2019 September 30, 2019 Operating lease cost $ 693 $ 2,068 Variable lease cost 74 166 Total lease cost $ 767 $ 2,234 As of September 30, 2019 , the weighted average remaining lease term for the Company’s operating leases was 5.00 years. As a discount rate was not directly observable for the operating leases, the discount rate used to calculate the net present value of future payments was the Company’s incremental borrowing rate calculated at transition based on the remaining lease term for each operating lease. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow, on a collateralized basis over a similar term, an amount equal to the lease payments in a similar economic environment. In determining the incremental borrowing rate, the Company considered the following: (i) the Company’s public credit rating, (ii) observable debt yields of the Company, as well as other bonds in the market issued by other companies with similar credit ratings as the Company, and (iii) adjustments necessary for collateral, lease term and inflation or foreign currency. As of September 30, 2019 , the weighted average discount rate for the Company’s operating leases was 6.17% . The following table summarizes activity of the operating lease liabilities for the nine months ended September 30, 2019 (in thousands): Lease Liability Beginning balance at December 31, 2018 $ — Transition adjustment recorded upon adoption 8,289 Payments during the period (2,068 ) Effect of discounted cash flows during the period 364 Ending balance at September 30, 2019 $ 6,585 Future payments of operating lease liabilities as of September 30, 2019 are as follows (in thousands): Year ending December 31, 2019 $ 640 2020 2,136 2021 1,060 2022 1,038 2023 980 Thereafter 1,863 Total Lease payments $ 7,717 Less: effect of discounted cash flows during the period (1,132 ) Total $ 6,585 As of September 30, 2019 , the Company had no operating or finance leases that have not yet commenced. In addition, upon adoption, and as of September 30, 2019 , the Company had no short-term leases.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of presentation and significant accounting policies	Basis of Presentation —The accompanying unaudited condensed consolidated financial statements and the related disclosures of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial reporting and as required by Regulation S-X, Rule 10-01. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (including those which are normal and recurring) considered necessary for a fair presentation of the interim financial information have been included. When preparing financial statements in conformity with U.S. GAAP, the Company must make estimates and assumptions that affect the reported amounts of assets, liabilities, expenses and related disclosures at the date of the financial statements. Actual results could differ from those estimates. Additionally, operating results for the nine months ended September 30, 2019 are not necessarily indicative of the results that may be expected for any other interim period or for the fiscal year ending December 31, 2019 . Subsequent events have been evaluated up to the date of issuance of these financial statements. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes, which are contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 (“2018 Form 10-K”), filed with the Securities and Exchange Commission (“SEC”) on February 28, 2019 . Significant Accounting Policies —The significant accounting policies identified in the Company’s 2018 Form 10-K that require the Company to make estimates and assumptions include: revenue recognition, inventory obsolescence, long-lived assets and intangible assets, accounting for stock-based compensation, contingencies, tax valuation reserves, fair value measures, and accrued expenses. There were no changes to significant accounting policies during the nine months ended September 30, 2019 , except for the adoption of the Accounting Standards Updates (“ASU”) issued by the Financial Accounting Standards Board (“FASB”) detailed below.
Accounting standards updates, recently adopted	Accounting Standards Updates, Recently Adopted— In February 2016, the FASB issued ASU 2016-02, Leases (“ASU 2016-02”). ASU 2016-02 supersedes the lease guidance under FASB ASC Topic 840, Leases, resulting in the creation of FASB Accounting Standards Codification (“ASC”) Topic 842, Leases. ASU 2016-02 requires a lessee to recognize a liability to make lease payments and a right-of-use asset in the statement of financial position, representing its right to use the underlying asset for the lease term for both finance and operating leases. In July 2018, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, Leases (“ASU 2018-10”) and ASU No. 2018-11, Target Improvements to Topic 842, Leases (“ASU 2018-11”). The amendments in ASU 2018-10 provide additional clarification and implementation guidance on certain aspects of ASU 2016-02 and have the same effective and transition requirements as ASU 2016-02. ASU 2018-11 gives entities the option to not provide comparative period financial statements and instead apply the transition requirements as of the effective date of ASU 2016-02. ASU 2016-02, ASU 2018-10 and ASU 2018-11 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted. The Company adopted the standard effective January 1, 2019 using the optional method under ASU 2018-11 and therefore, prior period financial information has not been retrospectively adjusted. The Company applied the package of practical expedients to leases that commenced prior to the effective date whereby it elected to not reassess: (i) whether any expired or existing contracts contain leases; (ii) the lease classification for any expired or existing leases; and (iii) initial direct costs for any existing leases. The Company also elected the short-term lease recognition exemption for all leases that qualify, where a right-of-use asset or lease liability will not be recognized for short term leases. Furthermore, for all leases entered into or modified after the effective date, the Company has made an accounting policy election, by class of underlying asset, to not separate nonlease components from lease components. The Company did not elect the use-of-hindsight to estimate the lease term or to assess impairment of right-of-use assets for existing leases. As summarized in the table below, the standard had a material impact on the Company’s condensed consolidated balance sheet as of September 30, 2019 , specifically through recognition of right-of-use assets and lease liabilities for operating leases of $8.3 million on the effective date. However, the standard did not have a material impact on the Company’s condensed consolidated statement of operations and comprehensive loss, as expense for the Company’s existing operating leases continues to be recognized consistent with the recognition pattern before adoption. Consolidated Balance Sheet Data (in thousands) January 1, 2019 Prior to ASC 842 Adoption ASC 842 Adjustment January 1, 2019 As Adjusted Right of use assets - operating leases (1) $ — $ 8,289 $ 8,289 Operating lease liability, current (2) $ — $ 2,245 $ 2,245 Operating lease liability, long term (2) $ — $ 6,044 $ 6,044 (1) Represents capitalization of operating lease right of use assets. (2) Represents recognition of operating lease liabilities. The Company implemented internal controls to enable the preparation of financial information upon adoption. In June 2018, the FASB issued ASU No. 2018-07, Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting (“ASU 2018-07”). ASU 2018-07 amends ASC 718, Compensation-Stock Compensation , to expand the scope of the standard to include accounting for share-based payment transactions for acquiring goods and services from non-employees. The amendments in ASU 2018-07 are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2018. Early adoption is permitted. The Company adopted ASU 2018-07 on a prospective as of January 1, 2019, and it did not have a material impact on the Company’s condensed consolidated financial statements. In July 2018, the FASB issued ASU 2018-09, Codification Improvements , or (“ASU 2018-09”). This amendment makes changes to a variety of topics to clarify, correct errors in, or make minor improvements to the ASC. The majority of the amendments in ASU 2018-09 will be effective for the Company in annual periods beginning after December 15, 2018. The Company adopted ASU 2018-09 as of January 1, 2019 and it did not have a material impact on the Company’s condensed consolidated financial statements. On August 17, 2018, the SEC issued an amendment to Rule 3-04 of Regulation S-X, which extended the annual disclosure requirement of reporting changes in stockholders’ equity (deficit) to interim periods. Such disclosures are to be provided in a note to the financial statements or in a separate financial statement and requires both the year-to-date information and subtotals for each interim period. On September 25, 2018, the SEC issued guidance under a Compliance and Disclosure Interpretation (C&DI 105.09) to clarify the effective date of the requirement. Under the guidance in C&DI 105.09, the Company implemented this updated disclosure requirement beginning with its Form 10-Q for the first quarter of 2019, specifically by presenting the Company’s condensed consolidated statements of stockholders’ equity for interim periods. In November 2018, the FASB issued ASU 2018-18, Collaborative Arrangements (Topic 808), Clarifying the Interaction between Topic 808 and Topic 606 (“ASU 2018-18”). The amendments in ASU 2018-18 clarify that certain transactions between collaborative arrangement participants should be accounted for as revenue under ASC 606 when the collaborative arrangement participant is a customer in the context of a unit of account. The amendments under ASU 2018-18 are effective for interim and annual fiscal periods beginning after December 15, 2019, with early adoption permitted. The amendments in ASU 2018-18 should be applied retrospectively to the date of initial application of ASC 606. The Company adopted ASU 2018-18 as of January 1, 2019 and it did not have a material impact on the Company’s condensed consolidated financial statements, as each of the Company’s arrangements detailed within Note 12, “License Agreements,” were previously accounted for under ASC 606 and/or other topics of the ASC, not ASC 808, and the Company has no other arrangements within the scope of ASC 808. Accounting Standards Updates, Recently Issued— In June 2016, the FASB issued ASU 2016-13, Finan cial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires that credit losses be reported using an expected losses model rather than the incurred losses model that is currently used, and establishes additional disclosures related to credit risks. For available-for-sale debt securities with unrealized losses, this standard now requires allowances to be recorded instead of reducing the amortized cost of the investment. The amendments under ASU 2016-13 are effective for interim and annual fiscal periods beginning after December 15, 2019. The Company is currently evaluating the effects the adoption of ASU 2016-13 will have on its consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement - Disclosure Framework - Changes to the Disclosure Requirement for Fair Value Measurement , or (“ASU 2018-13”). The amendments in ASU 2018-13 modify the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement , based on the concepts in the Concepts Statement, including the consideration of costs and benefits. The amendment under ASU 2018-13 are effective for interim and annual fiscal periods beginning after December 15, 2019, with early adoption permitted. The Company does not expect the adoption of ASU 2018-13 to have a material impact on its results of operations, financial position or cash flows. In August 2018, the FASB issued ASU 2018-15, Intangible-Goodwill and Other Internal-Use Software (Subtopic 350-40 (“ASU 2018-15”). ASU 2018-15 updates guidance regarding accounting for a cloud computing arrangement that is a service contract. The amendments under ASU 2018-15 are effective for interim and annual fiscal periods beginning after December 15, 2019, with early adoption permitted. The Company does not expect the adoption of ASU 2018-15 to have a material impact on its results of operations, financial position or cash flows.

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Schedule of new accounting pronouncements and changes in accounting principles	As summarized in the table below, the standard had a material impact on the Company’s condensed consolidated balance sheet as of September 30, 2019 , specifically through recognition of right-of-use assets and lease liabilities for operating leases of $8.3 million on the effective date. However, the standard did not have a material impact on the Company’s condensed consolidated statement of operations and comprehensive loss, as expense for the Company’s existing operating leases continues to be recognized consistent with the recognition pattern before adoption. Consolidated Balance Sheet Data (in thousands) January 1, 2019 Prior to ASC 842 Adoption ASC 842 Adjustment January 1, 2019 As Adjusted Right of use assets - operating leases (1) $ — $ 8,289 $ 8,289 Operating lease liability, current (2) $ — $ 2,245 $ 2,245 Operating lease liability, long term (2) $ — $ 6,044 $ 6,044 (1) Represents capitalization of operating lease right of use assets. (2) Represents recognition of operating lease liabilities.

Marketable Securities (Tables)

Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Schedule of available-for-sale marketable securities and cash and cash equivalents	Available-for-sale marketable securities and cash and cash equivalents as of September 30, 2019 and December 31, 2018 consist of the following (in thousands): September 30, 2019 Amortized Cost Value Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and cash equivalents: Cash $ 42,616 $ — $ — $ 42,616 Money market funds 46,309 — — 46,309 Total $ 88,925 $ — $ — $ 88,925 Marketable securities: Domestic corporate debt securities $ 47,271 $ 19 $ (1 ) $ 47,289 Domestic corporate commercial paper 16,945 4 — 16,949 Agency bonds 15,013 — — 15,013 Total $ 79,229 $ 23 $ (1 ) $ 79,251 December 31, 2018 Amortized Cost Value Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and cash equivalents: Cash $ 20,448 $ — $ — $ 20,448 Money market funds 38,873 — — 38,873 Total $ 59,321 $ — $ — $ 59,321 Marketable securities: Domestic corporate debt securities $ 132,886 $ — $ (530 ) $ 132,356 Agency bonds 45,009 — (225 ) 44,784 Total $ 177,895 $ — $ (755 ) $ 177,140

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Summary of financial instruments measured at fair value on a recurring basis	The following table summarizes the financial instruments measured at fair value on a recurring basis in the Company’s accompanying condensed consolidated balance sheets as of September 30, 2019 and December 31, 2018 (in thousands): As of September 30, 2019 Level 1 Level 2 Level 3 Total Assets Cash and cash equivalents: Cash $ 42,616 $ — $ — $ 42,616 Money market funds (1) 46,309 — — 46,309 Total $ 88,925 $ — $ — $ 88,925 Marketable Securities Domestic corporate debt securities (2) $ — $ 47,289 $ — $ 47,289 Domestic corporate commercial paper (2) — 16,949 — 16,949 Agency bonds (2) — 15,013 — 15,013 Total $ — $ 79,251 $ — $ 79,251 As of December 31, 2018 Level 1 Level 2 Level 3 Total Assets Cash and cash equivalents: Cash $ 20,448 $ — $ — $ 20,448 Money market funds (1) 38,873 — — 38,873 Total $ 59,321 $ — $ — $ 59,321 Marketable Securities Domestic corporate debt securities (2) $ — $ 132,356 $ — $ 132,356 Agency bonds (2) — 44,784 — 44,784 Total $ — $ 177,140 $ — $ 177,140 (1) Fair value is based upon quoted market prices. (2)

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Schedule of inventory	Inventory consisted of the following as of September 30, 2019 and December 31, 2018 (in thousands): September 30, December 31, Raw materials $ 3,858 $ 4,961 Work in process 44 490 Finished goods 1,009 759 Total inventories $ 4,911 $ 6,210

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	The following table presents intangible assets as of September 30, 2019 and December 31, 2018 (in thousands): September 30, December 31, Estimated useful life Acquired and in-licensed rights $ 8,712 $ 8,712 11 years Less: accumulated amortization (1,929 ) (1,330 ) Total intangible asset, net $ 6,783 $ 7,382

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2019
Payables and Accruals [Abstract]
Schedule of accrued expenses and other current liabilities	Accrued expenses and other current liabilities consisted of the following for the periods set forth below (in thousands): September 30, December 31, Commercial costs $ 3,179 $ 2,884 Product revenue reserves 18,561 7,620 Royalty payable 2,352 1,735 Research and development costs 9,329 10,403 Payroll and employee benefits 10,275 12,230 Interest 763 3,050 Professional fees 4,516 3,465 Restructuring costs 12 613 Other current liabilities 95 203 Total accrued expenses and other current liabilities $ 49,082 $ 42,203

Convertible Notes Payable (Tabl

Convertible Notes Payable (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of outstanding balances of convertible notes	The outstanding balances of the Convertible Notes as of September 30, 2019 consisted of the following (in thousands): 2024 Convertible Notes Liability component: Principal $ 305,000 Less: debt discount and issuance costs, net $ (113,556 ) Net carrying amount $ 191,444 Equity component: $ 134,450
Schedule of interest expense recognized related to convertible notes	The following table sets forth total interest expense recognized related to the Convertible Notes during the three and nine months ended September 30, 2019 and 2018 (in thousands): Three Months Ended Nine Months Ended 2019 2018 2019 2018 Contractual interest expense $ 2,288 $ 2,287 $ 6,863 $ 6,863 Amortization of debt discount 3,865 3,379 11,216 9,804 Amortization of debt issuance costs 145 127 421 370 Total interest expense $ 6,298 $ 5,793 $ 18,500 $ 17,037
Schedule of future minimum payments on long-term debt	Future minimum payments on the Company’s long-term debt as of September 30, 2019 are as follows (in thousands): Years ended December 31, Future Minimum Payments 2019 $ — 2020 9,150 2021 9,150 2022 9,150 2023 9,150 2024 and Thereafter 314,150 Total minimum payments $ 350,750 Less: interest (45,750 ) Less: unamortized discount (113,556 ) Less: current portion — Long Term Debt $ 191,444

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Summary of stock option activity	A summary of stock option activity during the nine months ended September 30, 2019 is as follows (in thousands, except for per share amounts): Shares Weighted- Average Exercise Price (in dollars per share) Weighted- Average Contractual Life (in years) Aggregate Intrinsic Value Options outstanding at December 31, 2018 5,463 $ 36.88 Granted 1,044 19.72 Exercised (341 ) 8.40 Canceled (499 ) 33.99 Expired (806 ) 40.15 Options outstanding at September 30, 2019 4,861 $ 34.94 7.39 $ 11,716 Options exercisable at September 30, 2019 2,810 $ 39.87 6.40 $ 4,900
Summary of restricted stock units activity	A summary of RSU activity during the nine months ended September 30, 2019 is as follows (in thousands, except for per share amounts): RSUs Weighted- Average Grant Date Fair Value (in dollars per share) RSUs Outstanding at December 31, 2018 227 $ 37.69 Granted 613 20.04 Vested (75 ) 38.59 Forfeited (110 ) 26.35 RSUs Outstanding at September 30, 2019 655 $ 22.93 A summary of PSU activity during the nine months ended September 30, 2019 is as follows (in thousands, except for per share amounts): PSUs Weighted- Average Grant Date Fair Value (in dollars per share) PSUs Outstanding at December 31, 2018 — $ — Granted 79 19.20 Vested — — Forfeited — — PSUs Outstanding at September 30, 2019 79 $ 19.20

Product Revenue Reserves and _2

Product Revenue Reserves and Allowances (Tables)	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of product revenue allowance and reserve categories	The following table summarizes activity in each of the product revenue allowance and reserve categories for the nine months ended September 30, 2019 and 2018 (in thousands): Chargebacks, Discounts, and Fees Government and other rebates Returns Total Ending balance at December 31, 2017 $ 1,986 $ 1,231 $ 421 $ 3,638 Provision related to sales in the current year 9,750 15,350 229 25,329 Adjustments related to prior period sales (76 ) (106 ) (111 ) (293 ) Credits and payments made (8,971 ) (9,257 ) (236 ) (18,464 ) Ending balance at September 30, 2018 $ 2,689 $ 7,218 $ 303 $ 10,210 Ending balance at December 31, 2018 $ 3,198 $ 7,620 $ 411 $ 11,229 Provision related to sales in the current year 21,203 44,426 698 66,327 Adjustments related to prior period sales (27 ) 697 — 670 Credits and payments made (19,759 ) (34,190 ) (575 ) (54,524 ) Ending balance at September 30, 2019 $ 4,615 $ 18,553 $ 534 $ 23,702

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Schedule of basic and diluted net loss per share	Basic and diluted net loss per share for the periods set forth below is calculated as follows (in thousands, except share and per share amounts): Three Months Ended Nine Months Ended 2019 2018 2019 2018 Numerator: Net loss $ (30,044 ) $ (49,802 ) $ (108,278 ) $ (180,239 ) Denominator: Weighted-average number of common shares used in loss per share - basic and diluted 46,141,217 45,498,909 45,975,691 45,291,176 Loss per share - basic and diluted $ (0.65 ) $ (1.09 ) $ (2.36 ) $ (3.98 )
Schedule of potentially dilutive securities excluded from the computation of diluted weighted-average shares outstanding	The following potentially dilutive securities, prior to the use of the treasury stock method, have been excluded from the computation of diluted weighted-average shares outstanding, as they would be anti-dilutive. For the three and nine months ended September 30, 2019 and 2018 , respectively, all the Company’s options to purchase common stock, warrants, and restricted stock units outstanding were assumed to be anti-dilutive as earnings attributable to common stockholders was in a loss position. Three and Nine Months Ended September 30, 2019 2018 Options to purchase common stock 4,860,997 5,759,140 Warrants — 120,532 Restricted stock units 655,723 262,002 Performance units 79,000 —

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Lease, cost	During the three and nine months ended September 30, 2019 , the components of lease expense were as follows (in thousands): Three months ended Nine months ended September 30, 2019 September 30, 2019 Operating lease cost $ 693 $ 2,068 Variable lease cost 74 166 Total lease cost $ 767 $ 2,234
Schedule of summary of lease operating liability activity	The following table summarizes activity of the operating lease liabilities for the nine months ended September 30, 2019 (in thousands): Lease Liability Beginning balance at December 31, 2018 $ — Transition adjustment recorded upon adoption 8,289 Payments during the period (2,068 ) Effect of discounted cash flows during the period 364 Ending balance at September 30, 2019 $ 6,585
Lessee, operating lease, liability, maturity	Future payments of operating lease liabilities as of September 30, 2019 are as follows (in thousands): Year ending December 31, 2019 $ 640 2020 2,136 2021 1,060 2022 1,038 2023 980 Thereafter 1,863 Total Lease payments $ 7,717 Less: effect of discounted cash flows during the period (1,132 ) Total $ 6,585

Organization (Details)

Organization (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ (1,211,899)	$ (1,103,621)
Cash, cash equivalents, marketable securities, and investments	$ 168,700

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right of use assets	$ 6,443	$ 8,289
Operating lease, liability	$ 6,585		$ 0
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right of use assets		8,289
Operating lease, liability		$ 8,300

Basis of Presentation and Sig_5

Basis of Presentation and Significant Accounting Policies - Adjustments for Adoption (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use assets - operating leases	$ 6,443	$ 8,289
Operating lease liability, current	1,904	2,245
Operating lease liability, long term	$ 4,681	6,044
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use assets - operating leases		8,289
Operating lease liability, current		2,245
Operating lease liability, long term		$ 6,044

Marketable Securities - Schedul

Marketable Securities - Schedule of Available-for-sale Marketable Securities and Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Cash and cash equivalents:
Amortized Cost Value	$ 88,925	$ 59,321
Fair Value	88,925	59,321
Marketable securities:
Amortized Cost Value	79,229	177,895
Gross Unrealized Gains	23	0
Gross Unrealized Losses	(1)	(755)
Fair Value	79,251	177,140
Domestic corporate debt securities
Marketable securities:
Amortized Cost Value	47,271	132,886
Gross Unrealized Gains	19	0
Gross Unrealized Losses	(1)	(530)
Fair Value	47,289	132,356
Domestic corporate commercial paper
Marketable securities:
Amortized Cost Value	16,945
Gross Unrealized Gains	4
Gross Unrealized Losses	0
Fair Value	16,949
Agency bonds
Marketable securities:
Amortized Cost Value	15,013	45,009
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	(225)
Fair Value	15,013	44,784
Cash
Cash and cash equivalents:
Amortized Cost Value	42,616	20,448
Fair Value	42,616	20,448
Money market funds
Cash and cash equivalents:
Amortized Cost Value	46,309	38,873
Fair Value	$ 46,309	$ 38,873

Marketable Securities - Narrati

Marketable Securities - Narrative (Details) $ in Millions	Sep. 30, 2019USD ($)security	Dec. 31, 2018USD ($)security
Investments, Debt and Equity Securities [Abstract]
Debt securities held in an unrealized loss position for less than 12 months | security	5	24
Fair value of debt securities in an unrealized loss position for less than 12 months | $	$ 27	$ 177.1

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	$ 88,925	$ 59,321
Marketable Securities	79,251	177,140
Domestic corporate debt securities
Assets
Marketable Securities	47,289	132,356
Domestic corporate commercial paper
Assets
Marketable Securities	16,949
Agency bonds
Assets
Marketable Securities	15,013	44,784
Cash
Assets
Cash and cash equivalents	42,616	20,448
Money market funds
Assets
Cash and cash equivalents	46,309	38,873
Recurring basis
Assets
Cash and cash equivalents	88,925	59,321
Marketable Securities	79,251	177,140
Recurring basis | Domestic corporate debt securities
Assets
Marketable Securities	47,289	132,356
Recurring basis | Domestic corporate commercial paper
Assets
Marketable Securities	16,949
Recurring basis | Agency bonds
Assets
Marketable Securities	15,013	44,784
Recurring basis | Cash
Assets
Cash and cash equivalents	42,616	20,448
Recurring basis | Money market funds
Assets
Cash and cash equivalents	46,309	38,873
Recurring basis | Level 1
Assets
Cash and cash equivalents	88,925	59,321
Marketable Securities	0	0
Recurring basis | Level 1 | Domestic corporate debt securities
Assets
Marketable Securities	0	0
Recurring basis | Level 1 | Domestic corporate commercial paper
Assets
Marketable Securities	0
Recurring basis | Level 1 | Agency bonds
Assets
Marketable Securities	0	0
Recurring basis | Level 1 | Cash
Assets
Cash and cash equivalents	42,616	20,448
Recurring basis | Level 1 | Money market funds
Assets
Cash and cash equivalents	46,309	38,873
Recurring basis | Level 2
Assets
Cash and cash equivalents	0	0
Marketable Securities	79,251	177,140
Recurring basis | Level 2 | Domestic corporate debt securities
Assets
Marketable Securities	47,289	132,356
Recurring basis | Level 2 | Domestic corporate commercial paper
Assets
Marketable Securities	16,949
Recurring basis | Level 2 | Agency bonds
Assets
Marketable Securities	15,013	44,784
Recurring basis | Level 2 | Cash
Assets
Cash and cash equivalents	0	0
Recurring basis | Level 2 | Money market funds
Assets
Cash and cash equivalents	0	0
Recurring basis | Level 3
Assets
Cash and cash equivalents	0	0
Marketable Securities	0	0
Recurring basis | Level 3 | Domestic corporate debt securities
Assets
Marketable Securities	0	0
Recurring basis | Level 3 | Domestic corporate commercial paper
Assets
Marketable Securities	0
Recurring basis | Level 3 | Agency bonds
Assets
Marketable Securities	0	0
Recurring basis | Level 3 | Cash
Assets
Cash and cash equivalents	0	0
Recurring basis | Level 3 | Money market funds
Assets
Cash and cash equivalents	$ 0	$ 0

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 3,858	$ 4,961
Work in process	44	490
Finished goods	1,009	759
Total inventories	$ 4,911	$ 6,210
Finished goods shelf life	36 months

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets, Net [Abstract]
Acquired and in-licensed rights	$ 8,712	$ 8,712
Less: accumulated amortization	(1,929)	(1,330)
Total intangible asset, net	$ 6,783	$ 7,382
Estimated useful life	11 years

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) € in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2019EUR (€)	Sep. 30, 2018USD ($)
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 0.2	$ 0.2	$ 0.6		$ 0.6
Estimated future amortization expense for intangible assets, remainder of year	0.2		0.2
Estimated future amortization expense for intangible assets, per year thereafter	$ 0.8		$ 0.8
Remaining amortization period			8 years 6 months	8 years 6 months
Collaborative Arrangement
Finite-Lived Intangible Assets [Line Items]
Milestone payments that triggered intangible asset recognition			$ 8.7	€ 8

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Commercial costs	$ 3,179	$ 2,884
Product revenue reserves	18,561	7,620
Royalty payable	2,352	1,735
Research and development costs	9,329	10,403
Payroll and employee benefits	10,275	12,230
Interest	763	3,050
Professional fees	4,516	3,465
Restructuring costs	12	613
Other current liabilities	95	203
Total accrued expenses and other current liabilities	$ 49,082	$ 42,203

Convertible Notes Payable - Nar

Convertible Notes Payable - Narrative (Details)	1 Months Ended
	Sep. 12, 2017USD ($)business_dayday$ / shares	Sep. 30, 2019USD ($)	Dec. 31, 2018USD ($)	Aug. 14, 2017USD ($)
Debt Instrument [Line Items]
Initial carrying amount		$ 191,444,000	$ 179,806,000
Convertible debt | 3.00% Convertible notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 5,000,000			$ 300,000,000
Debt instrument stated rate	3.00%			3.00%
Debt issuance costs	$ 9,400,000
Debt instrument term	7 years
Conversion ratio	0.0204891
Initial conversion price (in dollars per share) | $ / shares	$ 48.81
Initial carrying amount		191,444,000		$ 166,300,000
Equity component		134,450,000		138,700,000
Proceeds from the issuance of debt		$ 305,000,000		$ 305,000,000
Debt discount, remaining discount amortization period	7 years
Effective interest rate		13.04%
Estimated fair value		$ 278,800,000
Convertible debt | 3.00% Convertible notes | Stock price trigger at greater than or equal to 130%
Debt Instrument [Line Items]
Consecutive or non-consecutive trading days	20 days
Consecutive trading days | day	30
Percentage of stock price trigger	130.00%
Convertible debt | 3.00% Convertible notes | Stock price trigger less than 98%
Debt Instrument [Line Items]
Consecutive trading days | day	5
Percentage of stock price trigger	98.00%
Trading days | business_day	5
Convertible debt | 3.00% Convertible notes | Stock price trigger at greater than or equal to 130%, on or after September 1, 2021
Debt Instrument [Line Items]
Consecutive or non-consecutive trading days	20 days
Consecutive trading days | day	30
Percentage of stock price trigger	130.00%
Consecutive trading days, redemption notice period | day	5
Convertible debt | 3.00% Convertible notes | Additional Paid-In Capital
Debt Instrument [Line Items]
Debt issuance costs	$ 4,300,000
Convertible debt | 3.00% Convertible notes | Convertible notes
Debt Instrument [Line Items]
Debt issuance costs	$ 5,100,000

Convertible Notes Payable - Sum

Convertible Notes Payable - Summary of Outstanding Balances of Convertible Notes (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Aug. 14, 2017
Debt Instrument [Line Items]
Net carrying amount	$ 191,444	$ 179,806
Convertible debt | 3.00% Convertible notes
Debt Instrument [Line Items]
Principal	305,000		$ 305,000
Less: debt discount and issuance costs, net	(113,556)
Net carrying amount	191,444		166,300
Equity component	$ 134,450		$ 138,700

Convertible Notes Payable - S_2

Convertible Notes Payable - Summary of Total Interest Expense Recognized Related to the Convertible Notes (Details) - Convertible debt - 3.00% Convertible notes - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Debt Instrument [Line Items]
Contractual interest expense	$ 2,288	$ 2,287	$ 6,863	$ 6,863
Amortization of debt discount	3,865	3,379	11,216	9,804
Amortization of debt issuance costs	145	127	421	370
Total interest expense	$ 6,298	$ 5,793	$ 18,500	$ 17,037

Convertible Notes Payable - Sch

Convertible Notes Payable - Schedule of Future Minimum Payments on Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Aug. 14, 2017
Future Minimum Payments
Long Term Debt	$ 191,444	$ 179,806
Convertible debt | 3.00% Convertible notes
Future Minimum Payments
2019	0
2020	9,150
2021	9,150
2022	9,150
2023	9,150
2024 and Thereafter	314,150
Total minimum payments	350,750
Less: interest	(45,750)
Less: unamortized discount	(113,556)
Less: current portion	0
Long Term Debt	$ 191,444		$ 166,300

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Options (Details) - Options to purchase common stock $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares
Shares
Options outstanding at beginning of period (in shares) | shares	5,463
Granted (in shares) | shares	1,044
Exercised (in shares) | shares	(341)
Canceled (in shares) | shares	(499)
Expired (in shares) | shares	(806)
Options outstanding at end of period (in shares) | shares	4,861
Options exercisable at end of period (in shares) | shares	2,810
Weighted- Average Exercise Price (in dollars per share)
Options outstanding at the beginning of the period (in dollars per share) | $ / shares	$ 36.88
Granted (in dollars per share) | $ / shares	19.72
Exercised (in dollars per share) | $ / shares	8.40
Canceled (in dollars per share) | $ / shares	33.99
Expired (in dollars per share) | $ / shares	40.15
Options outstanding at the end of the period (in dollars per share) | $ / shares	34.94
Options exercisable at the end of the period (in dollars per share) | $ / shares	$ 39.87
Weighted- Average Contractual Life (in years)
Options outstanding at the end of period	7 years 4 months 20 days
Options exercisable at the end of period	6 years 4 months 24 days
Aggregate Intrinsic Value
Options outstanding at the end of the period (in dollars) | $	$ 11,716
Options exercisable at the end of the period (in dollars) | $	$ 4,900

Stock Based Compensation - Stoc

Stock Based Compensation - Stock Options, Restricted Stock Units and Performance Units Narrative (Details) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares	Sep. 30, 2019USD ($)$ / sharesshares
Options to purchase common stock
Stock-based Compensation
Weighted-average grant-date fair value (in dollars per share) | $ / shares	$ 14.35	$ 12.87
Total unrecognized compensation expense	$ 30	$ 30
Weighted average period over which unrecognized compensation is expected to be recognized		2 years 6 months
RSUs
Stock-based Compensation
Total unrecognized compensation expense	$ 12.1	$ 12.1
Weighted average period over which unrecognized compensation is expected to be recognized		2 years 8 months 26 days
PSUs
Stock-based Compensation
Number of shares authorized (in shares) | shares	79,000	79,000

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Restricted Stock Units (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2019$ / sharesshares
RSUs
RSUs
RSUs Outstanding at beginning of period (in shares) | shares	227
Granted (in shares) | shares	613
Vested (in shares) | shares	(75)
Forfeited (in shares) | shares	(110)
RSUs Outstanding at end of period (in shares) | shares	655
Weighted- Average Grant Date Fair Value (in dollars per share)
RSUs outstanding at the beginning of the period (in dollars per share) | $ / shares	$ 37.69
Granted (in dollars per share) | $ / shares	20.04
Exercised (in dollars per share) | $ / shares	38.59
Forfeited (in dollars per share) | $ / shares	26.35
RSUs outstanding at the ending of the period (in dollars per share) | $ / shares	$ 22.93
PSUs
RSUs
RSUs Outstanding at beginning of period (in shares) | shares	0
Granted (in shares) | shares	79
Vested (in shares) | shares	0
Forfeited (in shares) | shares	0
RSUs Outstanding at end of period (in shares) | shares	79
Weighted- Average Grant Date Fair Value (in dollars per share)
RSUs outstanding at the beginning of the period (in dollars per share) | $ / shares	$ 0
Granted (in dollars per share) | $ / shares	19.20
Exercised (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	0
RSUs outstanding at the ending of the period (in dollars per share) | $ / shares	$ 19.20

Stock-Based Compensation - Empl

Stock-Based Compensation - Employee Stock Purchase Plan Narrative (Details) - Employee Stock Purchase Plan 2016 - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Stock-based Compensation
Share-based compensation arrangement by share-based payment award, award vesting rights, offering period	6 months
Employee stock purchase plan, purchase price of common stock, percent	85.00%
Employee stock purchase plan obligation		$ 200		$ 200
Stock-based compensation expense		$ 20	$ 200	$ 500	$ 600

Product Revenue Reserves and _3

Product Revenue Reserves and Allowances (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Product Revenue Allowance and Reserves
Summary of Activity of Product Revenue Allowance and Reserves
Beginning balance	$ 11,229	$ 3,638
Provision related to sales in the current year	66,327	25,329
Adjustments related to prior period sales	670	(293)
Credits and payments made	(54,524)	(18,464)
Ending balance	23,702	10,210
Chargebacks, Discounts, and Fees
Summary of Activity of Product Revenue Allowance and Reserves
Beginning balance	3,198	1,986
Provision related to sales in the current year	21,203	9,750
Adjustments related to prior period sales	(27)	(76)
Credits and payments made	(19,759)	(8,971)
Ending balance	4,615	2,689
Government and other rebates
Summary of Activity of Product Revenue Allowance and Reserves
Beginning balance	7,620	1,231
Provision related to sales in the current year	44,426	15,350
Adjustments related to prior period sales	697	(106)
Credits and payments made	(34,190)	(9,257)
Ending balance	18,553	7,218
Returns
Summary of Activity of Product Revenue Allowance and Reserves
Beginning balance	411	421
Provision related to sales in the current year	698	229
Adjustments related to prior period sales	0	(111)
Credits and payments made	(575)	(236)
Ending balance	$ 534	$ 303

Net Loss Per Share - Basic and

Net Loss Per Share - Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator:
Net loss	$ (30,044)	$ (49,802)	$ (108,278)	$ (180,239)
Denominator:
Weighted-average number of common shares used in loss per share - basic and diluted (in shares)	46,141,217	45,498,909	45,975,691	45,291,176
Loss per share - basic and diluted (in dollars per share)	$ (0.65)	$ (1.09)	$ (2.36)	$ (3.98)

Net Loss Per Share - Antidiluti

Net Loss Per Share - Antidilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities, prior to the use of the treasury stock method, excluded from the computation of diluted weighted-average shares outstanding, as they would be anti-dilutive (in shares)	4,860,997	5,759,140	4,860,997	5,759,140
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities, prior to the use of the treasury stock method, excluded from the computation of diluted weighted-average shares outstanding, as they would be anti-dilutive (in shares)	0	120,532	0	120,532
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities, prior to the use of the treasury stock method, excluded from the computation of diluted weighted-average shares outstanding, as they would be anti-dilutive (in shares)	655,723	262,002	655,723	262,002
Performance units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities, prior to the use of the treasury stock method, excluded from the computation of diluted weighted-average shares outstanding, as they would be anti-dilutive (in shares)	79,000	0	79,000	0

License Agreements (Details)

License Agreements (Details) € in Millions

Feb. 27, 2018

Oct. 31, 2018USD ($)

Jun. 30, 2018USD ($)

Jul. 31, 2017USD ($)

Apr. 30, 2017USD ($)

Apr. 30, 2017EUR (€)

Mar. 31, 2015USD ($)

Jun. 30, 2009

Sep. 30, 2005USD ($)

Sep. 30, 2005EUR (€)

Sep. 30, 2019USD ($)

Sep. 30, 2018USD ($)

Dec. 31, 2006USD ($)

Sep. 30, 2019USD ($)

Sep. 30, 2019EUR (€)

Sep. 30, 2018USD ($)

Sep. 30, 2019USD ($)

Dec. 31, 2017USD ($)

Dec. 31, 2015USD ($)

Sep. 30, 2019USD ($)

Mar. 31, 2019USD ($)

Sep. 30, 2019USD ($)

Sep. 30, 2019USD ($)

Eisai | License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Period after the date of the first commercial sale of the product for license expiration

10 years

Initial license fee paid

$ 500,000

$ 400,000

Eisai | License Agreement | Maximum

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Payments to be made upon achievement of certain clinical and regulatory milestones

$ 22,300,000

Duke | License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Nonrefundable, non-creditable payment

$ 1,300,000

Additional payments to be made upon achievement of certain milestones

$ 3,800,000

Termination period

60 days

Collaborative Arrangement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Milestone payments that triggered intangible asset recognition

$ 8,700,000

€ 8

Collaborative Arrangement | 3M Company

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Initial term

5 years

Renewal term

3 years

1 year

Termination period

24 months

90 days

Funding to purchase capital equipment

$ 9,600,000

Nonrefundable, non-creditable payment

$ 11,300,000

$ 28,300,000

Collaborative Arrangement | Ipsen

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Nonrefundable, non-creditable payment

$ 13,000,000

Milestone payments that triggered intangible asset recognition

$ 8,700,000

€ 8

Royalty rate (as a percent)

5.00%

5.00%

Royalty expense

$ 2,300,000

$ 1,400,000

$ 5,900,000

$ 3,200,000

Collaborative Arrangement | Ipsen | Maximum

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Additional payments to be made upon achievement of certain development and commercialization milestones

$ 26,200,000

€ 24

Collaborative Arrangement | Ipsen | Minimum

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Period after the date of the first commercial sale of the product for license expiration

10 years

10 years

Collaborative Arrangement | Ipsen | License Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Litigation settlement, amount awarded to other party

$ 10,000,000

Litigation settlement interest

800,000

License agreement, obligation to pay

5,000,000

Litigation settlement, expense

10,800,000

License agreement, upfront payment received

10,000,000

License agreements, upfront payment received, aggregate

$ 40,000,000

Collaborative Arrangement | Eisai

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Nonrefundable, non-creditable payment

$ 1,000,000

Collaborative Arrangement | Duke

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Nonrefundable, non-creditable payment

$ 500,000

Collaborative Arrangement | Teijin Agreement

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

License agreement, upfront payment received

$ 10,000,000

Aggregate amount if regulatory and sales milestones are achieved

$ 40,000,000

Commitments and Contingencies -

Commitments and Contingencies - Manufacturing Agreements (Details) € in Millions, SFr in Millions, $ in Millions	1 Months Ended
	Jul. 31, 2016USD ($)	Jul. 31, 2016EUR (€)	Jun. 30, 2016CHF (SFr)	Jun. 30, 2016USD ($)
Ypsomed Supply Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Services agreement, term			3 years	3 years
Services agreement, renewal term			2 years	2 years
Service agreement, period required for notice of non-renewal			18 months	18 months
Total minimum payments inclusive of milestone payments and one-time capacity fee			SFr 2.4	$ 2.4
Vetter Supply Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Services agreement, term			5 years	5 years
Services agreement, renewal term			2 years	2 years
Service agreement, period required for notice of non-renewal			2 years	2 years
Lonza Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Services agreement, term	6 years	6 years
Services agreement, renewal term	3 years	3 years
Service agreement, period required for notice of non-renewal	24 months	24 months
Annual minimum batches	$ 3.2	€ 2.9

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Lessee, Lease, Description [Line Items]
Operating lease, impairment loss	$ 0.3
Operating lease, weighted average remaining lease term	5 years
Operating lease, weighted average discount rate	6.17%
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	6 years

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 693	$ 2,068
Variable lease cost	74	166
Total lease cost	$ 767	$ 2,234

Leases - Summary of Operating L

Leases - Summary of Operating Lease Liability Activity (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Summary Of Operating Lease Liability Activity [Roll Forward]
Operating lease, liability, beginning balance	$ 0
Transition adjustment recorded upon adoption	8,289
Payments during the period	(2,068)
Effect of discounted cash flows during the period	364
Operating lease, liability, ending balance	$ 6,585

Leases - Maturities of Operatin

Leases - Maturities of Operating Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2019	$ 640
2020	2,136
2021	1,060
2022	1,038
2023	980
Thereafter	1,863
Total Lease payments	7,717
Less: effect of discounted cash flows during the period	(1,132)
Total	$ 6,585	$ 0