Clovis Oncology (CLVSQ) 10-K 23 Feb 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Feb. 16, 2017	Jun. 30, 2016
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Trading Symbol	CLVS
Entity Registrant Name	Clovis Oncology, Inc.
Entity Central Index Key	1,466,301
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		44,626,493
Entity Public Float			$ 454,585,803

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Product revenue, net	$ 78	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 78	$ 0	$ 0
License and milestone revenue	0	0	0	0	0	0	0	0	0	0	13,625
Total revenues	78	0	0	0	0	0	0	0	78	0	13,625
Operating expenses:
Cost of sales - product	70	0	0	0	0	0	0	0	70	0	0
Research and development	54,454	54,338	67,729	74,608	75,995	76,138	60,368	56,750	251,129	269,251	137,705
Selling, general and administrative	12,190	9,162	9,552	9,827	8,238	8,331	7,204	6,751	40,731	30,524	21,457
Acquired in-process research and development	500	500	300	0	0	12,000	0	0	1,300	12,000	8,806
Impairment of intangible asset	0	0	104,517	0	89,557	0	0	0	104,517	89,557	3,409
Change in fair value of contingent purchase consideration	0	0	(25,452)	516	(26,882)	783	764	724	(24,936)	(24,611)	707
Total expenses	67,214	64,000	156,646	84,951	146,908	97,252	68,336	64,225	372,811	376,721	172,084
Operating loss	(67,136)	(64,000)	(156,646)	(84,951)	(146,908)	(97,252)	(68,336)	(64,225)	(372,733)	(376,721)	(158,459)
Other income (expense):
Interest expense	(2,173)	(2,108)	(2,106)	(2,104)	(2,101)	(2,099)	(2,097)	(2,075)	(8,491)	(8,372)	(2,604)
Foreign currency gains (losses)	(146)	(66)	183	(551)	736	(101)	(1,142)	3,247	(580)	2,740	3,580
Other income (expense)	160	252	196	25	164	179	62	11	633	416	(240)
Other income (expense), net	(2,159)	(1,922)	(1,727)	(2,630)	(1,201)	(2,021)	(3,177)	1,183	(8,438)	(5,216)	736
Loss before income taxes	(69,295)	(65,922)	(158,373)	(87,581)	(148,109)	(99,273)	(71,513)	(63,042)	(381,171)	(381,937)	(157,723)
Income tax benefit (expense)	(1,433)	227	29,059	4,181	28,568	628	(18)	(102)	32,034	29,076	(2,308)
Net loss	$ (70,728)	$ (65,695)	$ (129,314)	$ (83,400)	$ (119,541)	$ (98,645)	$ (71,531)	$ (63,144)	$ (349,137)	$ (352,861)	$ (160,031)
Basic and diluted net loss per common share	$ (1.83)	$ (1.70)	$ (3.37)	$ (2.17)	$ (3.12)	$ (2.62)	$ (2.10)	$ (1.86)	$ (9.07)	$ (9.79)	$ (4.72)
Basic and diluted weighted average common shares outstanding	38,624	38,538	38,389	38,360	38,321	37,613	34,088	34,011	38,478	36,026	33,889

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Consolidated Statements of Comprehensive Loss
Net loss	$ (349,137)	$ (352,861)	$ (160,031)
Other comprehensive loss
Foreign currency translation adjustments, net of tax	(357)	(22,629)	(29,144)
Net unrealized gain (loss) on available-for-sale securities, net of tax	237	(383)	0
Other comprehensive loss	(120)	(23,012)	(29,144)
Comprehensive loss	$ (349,257)	$ (375,873)	$ (189,175)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 216,186	$ 278,756
Accounts receivable	121	0
Available-for-sale securities	49,997	249,832
Prepaid research and development expenses	6,427	3,377
Other current assets	6,679	7,736
Total current assets	279,410	539,701
Property and equipment, net	4,440	4,946
Intangible assets, net	21,047	101,500
Goodwill	57,192	59,327
Other assets	2,468	7,912
Total assets	364,557	713,386
Current liabilities:
Accounts payable	10,912	11,260
Accrued research and development expenses	35,198	53,011
Other accrued expenses	19,487	11,305
Total current liabilities	65,597	75,576
Contingent purchase consideration	0	24,661
Deferred income taxes, net	0	31,133
Milestone liability	20,062	0
Convertible senior notes	281,126	279,885
Deferred rent, long-term	1,406	1,481
Total liabilities	368,191	412,736
Commitments and contingencies (Note 10)
Stockholders' equity:
Preferred stock, par value $0.001 per share; 10,000,000 shares authorized, no shares issued and outstanding at December 31, 2016 and December 31, 2015
Common stock, $0.001 par value per share, 100,000,000 shares authorized at December 31, 2016 and December 31, 2015; 38,724,090 and 38,359,454 shares issued and outstanding at December 31, 2016 and December 31, 2015 respectively	39	38
Additional paid-in capital	1,174,950	1,129,978
Accumulated other comprehensive loss	(47,580)	(47,460)
Accumulated deficit	(1,131,043)	(781,906)
Total stockholders' (deficit) equity	(3,634)	300,650
Total liabilities and stockholders' (deficit) equity	$ 364,557	$ 713,386

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Consolidated Balance Sheets
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	38,724,090	38,359,454
Common stock, shares outstanding	38,724,090	38,359,454

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' (Deficit) Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Total
Beginning Balance at Dec. 31, 2013	$ 34	$ 762,170	$ 4,696	$ (269,014)	$ 497,886
Beginning Balance (in shares) at Dec. 31, 2013	33,897,321
Issuance of common stock under employee stock purchase plan		481			481
Issuance of common stock under employee stock purchase plan (in shares)	13,633
Exercise of stock options		921			921
Exercise of stock options (in shares)	66,233
Share-based compensation expense		21,517			21,517
Net unrealized gain (loss) on available-for-sale securities					0
Foreign currency translation adjustments			(29,144)		(29,144)
Net loss				(160,031)	(160,031)
Ending Balance at Dec. 31, 2014	$ 34	785,089	(24,448)	(429,045)	331,630
Ending Balance (in shares) at Dec. 31, 2014	33,977,187
Issuance of stock	$ 4	298,505			298,509
Issuance of stock (in shares)	4,054,487
Issuance of common stock under employee stock purchase plan		493			493
Issuance of common stock under employee stock purchase plan (in shares)	32,021
Exercise of stock options		5,534			5,534
Exercise of stock options (in shares)	295,759
Share-based compensation expense		40,357			40,357
Net unrealized gain (loss) on available-for-sale securities			(383)		(383)
Foreign currency translation adjustments			(22,629)		(22,629)
Net loss				(352,861)	(352,861)
Ending Balance at Dec. 31, 2015	$ 38	1,129,978	(47,460)	(781,906)	$ 300,650
Ending Balance (in shares) at Dec. 31, 2015	38,359,454				38,359,454
Issuance of common stock under employee stock purchase plan		1,965			$ 1,965
Issuance of common stock under employee stock purchase plan (in shares)	110,508
Exercise of stock options	$ 1	3,268			$ 3,269
Exercise of stock options (in shares)	247,431				247,431
Issuance of common stock from vesting of restricted stock units, net of shares withheld for taxes		(57)			$ (57)
Issuance of common stock from vesting of restricted stock units, net of shares withheld for taxes (in shares)	6,697
Share-based compensation expense		39,796			39,796
Net unrealized gain (loss) on available-for-sale securities			237		237
Foreign currency translation adjustments			(357)		(357)
Net loss				(349,137)	(349,137)
Ending Balance at Dec. 31, 2016	$ 39	$ 1,174,950	$ (47,580)	$ (1,131,043)	$ (3,634)
Ending Balance (in shares) at Dec. 31, 2016	38,724,090				38,724,090

Consolidated Statements of Sto7

Consolidated Statements of Stockholders' (Deficit) Equity (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Consolidated Statements of Stockholders' (Deficit) Equity
Issuance of stock, issuance costs	$ 17,741

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating activities
Net loss	$ (349,137)	$ (352,861)	$ (160,031)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation expense	39,796	40,357	21,517
Depreciation and amortization	1,141	761	444
Amortization of premiums and discounts on available-for-sale securities	211	1,400	0
Amortization of debt issuance costs	1,242	1,205	368
Impairment of intangible asset	104,517	89,557	3,409
Change in fair value of contingent purchase consideration	(24,661)	(27,792)	(3,301)
Loss on disposal of equipment	105	39	67
Deferred income taxes	(31,771)	(28,874)	761
Changes in operating assets and liabilities
Accounts receivable	(121)	0	0
Prepaid and accrued research and development expenses	(15,364)	14,122	18,112
Other operating assets	1,039	(4,380)	(910)
Accounts payable	(1,544)	8,105	(1,369)
Other accrued expenses	7,867	5,295	3,882
Net cash used in operating activities	(266,680)	(253,066)	(117,051)
Investing activities
Purchases of property and equipment	(766)	(3,035)	(2,286)
Proceeds from sale of property and equipment	65	0	0
Purchases of available-for-sale securities	0	(392,540)	0
Sales of available-for-sale securities	200,000	140,997	0
Net cash provided by (used in) investing activities	199,299	(254,578)	(2,286)
Financing activities
Proceeds from the sale of common stock, net of issuance costs	0	298,509	0
Proceeds from the issuance of convertible senior notes, net of issuance costs	0	0	278,313
Proceeds from the exercise of stock options and employee stock purchases	5,176	5,971	1,163
Net cash provided by financing activities	5,176	304,480	279,476
Effect of exchange rate changes on cash and cash equivalents	(365)	(757)	(690)
(Decrease) increase in cash and cash equivalents	(62,570)	(203,921)	159,449
Cash and cash equivalents at beginning of period	278,756	482,677	323,228
Cash and cash equivalents at end of period	216,186	278,756	482,677
Supplemental disclosure of cash flow information:
Cash paid for interest	7,188	7,307	0
Non-cash investing and financing activities:
Acquired in-process research and development - milestone not paid as of period end	$ 21,100	$ 0	$ 0

Nature of Business

Nature of Business	12 Months Ended
	Dec. 31, 2016
Nature of Business
Nature of Business	CLOVIS ONCOLOGY, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 1. Nature of Business We are a biopharmaceutical company focused on acquiring, developing and commercializing cancer treatments in the United States, Europe and other international markets. We have and intend to continue to license or acquire rights to oncology compounds in all stages of clinical development. In exchange for the right to develop and commercialize these compounds, we generally expect to provide the licensor with a combination of upfront payments, milestone payments and royalties on future sales. In addition, we generally expect to assume the responsibility for future drug development and commercialization costs. We currently operate in one segment. Since inception, our operations have consisted primarily of developing in-licensed compounds, evaluating new product acquisition candidates and general corporate activities. During the second quarter of 2016, we completed the submission of our NDA with the FDA for potential accelerated approval of rucaparib in the U.S. The FDA granted the rucaparib NDA priority review status with a Prescription Drug User Fee Act action date of February 23, 2017. On December 19, 2016, the FDA approved Rubraca (rucaparib) tablets as monotherapy for the treatment of patients with deleterious BRCA mutation (germline and/or somatic) associated with advanced ovarian cancer, who have been treated with two or more chemotherapies, and selected for therapy based on FDA-approved companion diagnostic for Rubraca. We submitted our first E.U. regulatory application in the fourth quarter of 2016, which was accepted during the fourth quarter of 2016. Liquidity We have incurred significant net losses since inception and have relied on our ability to fund our operations through debt and equity financings. We expect operating losses and negative cash flows to continue for the foreseeable future. As we continue to incur losses, transition to profitability is dependent upon achieving a level of revenue from Rubraca adequate to support our cost structure. We may never achieve profitability, and unless and until it does, we will continue to need to raise additional cash. In January 2017, we sold 5,750,000 shares of our common stock in a public offering at $41.00 per share. The net proceeds from the offering were $221. 2 million, after deducting underwriting discounts and commissions and offering expenses. We intend to use the net proceeds of the offering for general corporate purposes, including commercial planning and sales and marketing expenses associated with the launch of Rubraca in the United States and, if approved by the EMA in Europe, funding of its development programs, selling, general and administrative expenses, acquisition or licensing of additional product candidates or businesses and working capital. Based on our current estimates, we believe that our cash, cash equivalents and available-for-sale securities will allow us to fund activities through the next 12 months, although there can be no assurance that this can, in fact, be accomplished.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). The consolidated financial statements include our accounts and our wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Reclassifications Certain reclassifications have been made to prior year amounts to conform to the current year presentation. These reclassifications had no effect on our previously reported results of operations, financial position or cash flows. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, expenses and revenue and related disclosures. On an ongoing basis, we evaluate our estimates, including estimates related to revenue, contingent purchase consideration, intangible asset impairment, clinical trial accruals and share-based compensation expense. We base our estimates on historical experience and other market-specific or other relevant assumptions that we believe to be reasonable under the circumstances. Actual results may differ from those estimates or assumptions. Revenue Recognition We are currently approved to sell Rubraca in the United States market. We distribute our product principally through a limited number of specialty distributor and specialty pharmacy providers, collectively, our customers. Our customers subsequently resell our products to patients and health care providers. Separately, we have arrangements with certain payors and other third-parties that provide for government-mandated and privately-negotiated rebates, chargebacks and discounts. Revenues from product sales are recognized when persuasive evidence of an arrangement exists, delivery has occurred and title of the product and associated risk of loss has passed to the customer, the price is fixed or determinable, collection from the customer has been reasonably assured and all performance obligations have been met and returns and allowances can be reasonably estimated. Product sales are recorded net of estimated rebates, chargebacks, discounts and other deductions as well as estimated product returns. Estimating rebates, chargebacks, discounts, product returns and other deductions requires significant judgments about future events and uncertainties, and requires us to rely heavily on assumptions, as well as historical experience. We only recognize revenue on product sales once the product is resold to the patient or healthcare provider by the specialty distributor or specialty pharmacy provider, therefore reducing the significance of estimates made for product returns. For the year ended December 31, 2016, we recognized $0.1 million of product revenue. Based on our policy to expense costs associated with the manufacture of our products prior to regulatory approval, manufacturing of Rubraca units recognized as revenue during the year ended December 31, 2016 were expensed prior to the December 19, 2016 U.S. Food and Drug Administration (“FDA”) approval, and therefore are not included in cost of sales during the current period. We expect cost of sales to increase in relation to product revenues as we deplete these inventories. Revenue is recognized from license milestone payments when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable and, collectability is reasonably assured. We exercise judgment in determining that collectability is reasonably assured or that services have been delivered in accordance with the arrangement. We assess whether the fee is fixed or determinable based on the payment terms associated with the transaction and whether the sales price is subject to refund or adjustment. We assess collectability based primarily on the customer's payment history and creditworthiness of the customer. Payments that are contingent upon the achievement of a substantive milestone will be recognized in the period in which the milestone is achieved. Fair Value of Financial Instruments Cash, cash equivalents, available-for-sale securities and contingent purchase consideration are carried at fair value. Financial instruments, including other current assets and accounts payable, are carried at cost, which approximates fair value given their short-term nature (see Note 4, Fair Value Measurements ). Cash, Cash Equivalents and Available-for-Sale Securities We consider all highly liquid investments with original maturities at the date of purchase of three months or less to be cash equivalents. Cash and cash equivalents include bank demand deposits and money market funds that invest primarily in certificate of deposits, commercial paper and U.S. government and U.S. government agency obligations. Marketable securities are considered to be available-for-sale securities and consist of U.S. treasury securities. Available-for-sale securities are reported at fair value on the Consolidated Balance Sheets and unrealized gains and losses are included in accumulated other comprehensive loss on the Consolidated Balance Sheets. Realized gains and losses, amortization of premiums and discounts and interest and dividends earned are included in other income (expense) on the Consolidated Statements of Operations. The cost of investments for purposes of computing realized and unrealized gains and losses is based on the specific identification method. Investments with maturities beyond one year are classified as short-term based on our intent to fund current operations with these securities or to make them available for current operations. A decline in the market value of a security below its cost that is deemed to be other than temporary is charged to earnings and results in the establishment of a new cost basis for the security. Factors evaluated to determine if an investment is other-than-temporarily impaired include significant deterioration in earnings performance, credit rating, asset quality or business prospects of the issuer; adverse changes in the general market conditions in which the issuer operates; and our intent and ability to hold the security until an anticipated recovery in value occurs. Property and Equipment Property and equipment are stated at cost, less accumulated depreciation. Property and equipment are depreciated using the straight-line method over the estimated useful lives of the assets. Equipment purchased for use in manufacturing and clinical trials is evaluated to determine whether the equipment is solely beneficial for a drug candidate in the development stage or whether it has an alternative use. Equipment with an alternative use is capitalized. Leasehold improvements are amortized over the economic life of the asset or the lease term, whichever is shorter. Maintenance and repairs are expensed as incurred. The estimated useful lives of our capitalized assets are as follows: Estimated Useful Life Computer hardware and software 3 to 5 years Leasehold improvements 6 years Laboratory, manufacturing and office equipment 5 to 7 years Furniture and fixtures 10 years Long-Lived Assets We review long-lived assets for impairment when events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Recoverability is measured by comparison of the assets’ book value to future net undiscounted cash flows that the assets are expected to generate. If the carrying value of the assets exceed their future net undiscounted cash flows, an impairment charge is recognized for the amount by which the carrying value of the assets exceeds the fair value of the assets. Intangible Assets, Net Definite-lived intangible assets related to capitalized milestones under license agreements are amortized on a straight-line basis over their remaining useful lives, which are estimated to be the remaining patent life. If our estimate of the product’s useful life is shorter than the remaining patent life, then a shorter period is used. Amortization expense is recorded as a component of cost of sales on the Consolidated Statements of Operations. Intangible acquired in-process research and development (“IPR&D”) assets were established as part of the acquisition of Ethical Oncology Science, S.p.A. (“EOS”) in November 2013 and were not amortized. Intangible assets are evaluated for impairment at least annually in the fourth quarter or more frequently if impairment indicators exist. Events that could result in an impairment, or trigger an interim impairment assessment, include the decision to discontinue the development of a drug, the receipt of additional clinical or nonclinical data regarding our drug candidate or a potentially competitive drug candidate, changes in the clinical development program for a drug candidate, or new information regarding potential sales for the drug. In connection with any impairment assessment, the fair value of the intangible assets as of the date of assessment is compared to the carrying value of the intangible asset. Impairment losses are recognized if the carrying value of an intangible asset is both not recoverable and exceeds its fair value. During the second quarter of 2016, we recorded a $104.5 million impairment charge to the IPR&D intangible assets, reducing the remaining carrying value to zero (see Note 6, Intangible Assets and Goodwill ). Previously, the Company recorded an $89.6 million impairment charge to the IPR&D intangible assets during the fourth quarter of 2015. Goodwill Goodwill represents the excess of the purchase price over the fair value of net assets acquired in a business combination accounted for under the acquisition method of accounting and is not amortized, but is subject to impairment testing at least annually in the fourth quarter or when a triggering event is identified that could indicate a potential impairment. We are organized as a single reporting unit and perform impairment testing by comparing the carrying value of the reporting unit to the fair value of the Company. Goodwill was recorded as a result of the EOS acquisition. Other Current Assets Other current assets are comprised of the following (in thousands): December 31, 2016 2015 Receivable from partners $ $ Prepaid insurance Receivable from landlord — Prepaid expenses - other Receivable - other Other Total $ $ Other Accrued Expenses Other accrued expenses are comprised of the following (in thousands): December 31, 2016 2015 Accrued personnel costs $ $ Accrued interest payable Accrued expenses - other Total $ $ ` Valuation of Contingent Consideration Resulting from a Business Combination Subsequent to the acquisition date, we re-measure contingent consideration arrangements at fair value each reporting period and record changes in fair value to change in fair value of contingent purchase consideration and foreign currency gains (losses) for changes in the foreign currency translation rate on the Consolidated Statements of Operations. Changes in fair value are primarily attributed to new information about the IPR&D assets, including changes in timeline and likelihood of success, and the passage of time. In the absence of new information, changes in fair value reflect only the passage of time. During the fourth quarter of 2015, we recorded a $26.9 million reduction in the fair value of the contingent purchase consideration liability due to a change in the estimated probability-weighted future discounted milestone payments, as well as the timing of such payments, for the lucitanib program. Then, during the second quarter of 2016, we recorded a $25.5 million reduction in the fair value of the contingent purchase consideration liability due to our and our development partner’s decision to discontinue the development of lucitanib for breast cancer. At December 31, 2016, the contingent purchase consideration liability recorded on the Consolidated Balance Sheets remained at zero due to the uncertainty of achieving any of the lucitanib regulatory milestones, and therefore the remote likelihood of future milestone payouts. Research and Development Expense Research and development costs are charged to expense as incurred and include, but are not limited to, salary and benefits, share-based compensation, clinical trial activities, drug development and manufacturing, companion diagnostic development and third-party service fees, including contract research organizations and investigative sites. During 2015, we completed the hiring of our U.S. sales and marketing and medical affairs organizations in preparation for the potential commercial launch of Rubraca. These costs were also included in research and development expense before the FDA approval of Rubraca. Costs for certain development activities, such as clinical trials, are recognized based on an evaluation of the progress to completion of specific tasks using data such as patient enrollment, clinical site activations or information provided to us by our vendors on their actual costs incurred. Payments for these activities are based on the terms of the individual arrangements, which may differ from the pattern of costs incurred and are reflected on the Consolidated Balance Sheets as prepaid or accrued research and development expenses. Acquired In-Process Research and Development Expense We have acquired and expect to continue to acquire the rights to develop and commercialize new drug candidates. The upfront payments to acquire a new drug compound, as well as subsequent milestone payments, are immediately expensed as acquired in-process research and development provided that the drug has not achieved regulatory approval for marketing and, absent obtaining such approval, has no alternative future use. Once regulatory approval is received, payments to acquire rights, and the related milestone payments, are capitalized and the amortization of such assets recorded to product cost of sales. Share-Based Compensation Expense Share-based compensation is recognized as expense for all share-based awards made to employees and directors and is based on estimated fair values. We determine equity-based compensation at the grant date using the Black-Scholes option pricing model. The value of the award that is ultimately expected to vest is recognized as expense on a straight-line basis over the requisite service period. Any changes to the estimated forfeiture rates are accounted for prospectively. Inventory Inventories are stated at the lower of cost or estimated net realizable value, on a first-in, first-out, or FIFO, basis. Prior to the regulatory approval of Rubraca, we incurred expenses for the manufacture of drug that could potentially be available to support the commercial launch of Rubraca. Until the first reporting period when regulatory approval has been received, we record all such costs as research and development expense. We periodically analyze our inventory levels, and write down inventory that has become obsolete, inventory that has a cost basis in excess of its estimated realizable value and/or inventory in excess of expected sales requirements as cost of product revenues. Expired inventory would be disposed of and the related costs would be written off as cost of product revenues. The active pharma ceutical ingredient in Rubraca is currently produced by a single supplier. Concentration of Credit Risk Financial instruments that potentially subject us to concentrations of credit risk are primarily cash, cash equivalents and available-for-sale securities. We maintain our cash and cash equivalent balances in the form of money market accounts with financial institutions that we believe are creditworthy. Available-for-sale securities are invested in accordance with our investment policy. The investment policy includes guidelines on the quality of the institutions and financial instruments and defines allowable investments that we believe minimizes the exposure to concentration of credit risk. We have no financial instruments with off-balance sheet risk of accounting loss. Foreign Currency The assets and liabilities of our foreign operations are translated into U.S. dollars at current exchange rates and the results of operations are translated at the average exchange rates for the reported periods. The resulting translation adjustments are included in accumulated other comprehensive loss on the Consolidated Balance Sheets. Transactions denominated in currencies other than the functional currency are recorded based on exchange rates at the time such transactions arise. Transaction gains and losses are recorded to foreign currency gains (losses) on the Consolidated Statements of Operations. As of December 31, 2016 and 2015, approximately 1% and 3%, respectively, of our total liabilities were denominated in currencies other than the functional currency. Income Taxes We account for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases using enacted tax rates in effect for the year in which the differences are expected to affect taxable income. Tax benefits are recognized when it is more likely than not that a tax position will be sustained during an audit. Deferred tax assets are reduced by a valuation allowance if current evidence indicates that it is considered more likely than not that these benefits will not be realized. Recently Adopted Accounting Standards In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-15, “Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern,” which requires management to evaluate whether there are conditions or events that raise substantial doubt about an entity’s ability to continue as a going concern and to provide disclosures when certain criteria are met. The guidance is effective for annual periods beginning in 2016 and interim reporting periods starting in the first quarter of 2017. Early application is permitted. We adopted this standard effective December 31, 2016. Adoption of the standard resulted in no material change to our disclosures. Recently Issued Accounting Standards In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers” and has subsequently issued several supplemental and/or clarifying ASUs (collectively, “ASC 606”). ASC 606 prescribes a single common revenue standard that replaces most existing U.S. GAAP revenue recognition guidance. ASC 606 is intended to provide a more consistent interpretation and application of the principles outlined in the standard across filers in multiple industries and within the same industries compared to current practices, which should improve comparability. Adoption of ASC 606 is required for annual and interim periods beginning after December 15, 2017. Upon adoption, we must elect to adopt either retrospectively to each prior reporting period presented or use the cumulative effect transition method with the cumulative effect of initial adoption recognized at the date of initial application. We began recognizing revenue from product sales for the first time after the FDA approval of Rubraca on December 16, 2016 and have adopted a revenue recognition policy accordingly. We have not determined what adoption transition method we will use upon the adoption of ASC 606. We are currently assessing the impact that the future adoption of ASC 606 may have on our consolidated financial statements and related disclosures by analyzing our current accounting policies and practices to identify potential differences in applying the guidance of ASC 606. In July 2015, the FASB issued ASU No. 2015-11, which amends existing guidance for measurement of inventory. Current inventory guidance requires an entity to measure inventory at the lower of cost or market. Market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. An entity should measure all inventory to which the amendments apply at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The amendments are effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017. The amendments should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which requires lessees to recognize assets and liabilities for the rights and obligations created by most leases on their balance sheet. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted. ASU 2016-02 requires modified retrospective adoption for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. We are currently evaluating the impact the standard may have on our consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU No. 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting”, to simplify financial reporting of the income tax impacts of share-based compensation arrangements. ASU No. 2016-09 is effective for us for annual and interim periods beginning after January 1, 2017. The classification guidance under ASU No. 2016-09 requires the recognition of excess tax benefits from share-based compensation arrangements as a discrete item within income tax benefit rather than additional paid-in capital and the classification guidance requiring presentation of excess tax benefits from share-based compensation arrangements as an operating activity on the statement of cash flows, rather than as an financing activity. The adoption of ASU No 2016-09 is expected to have no immediate impact on our financial statements and related disclosures because we do not currently recognize a tax benefit related to share-based compensation expense as we maintain net operating loss carryforwards and have established a valuation allowance against the entire net deferred tax asset as of December 31, 2016. Further, we have elected to continue to estimate the number of stock-based awards expected to vest, as permitted by ASU 2016-09, rather than electing to account for forfeitures as they occur.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2016
Property and Equipment
Property and Equipment	3. Property and Equipment Property and equipment consisted of the following (in thousands): December 31, 2016 2015 Laboratory, manufacturing and office equipment $ $ Leasehold improvements Furniture and fixtures Computer hardware and software Total property and equipment Less: accumulated depreciation Total property and equipment, net $ $ Depreciation expense related to property and equipment was approximately $1.1 million, $0.8 million and $0.4 million for the years ended December 31, 2016, 2015 and 2014, respectively.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2016
Fair Value Measurements
Fair Value Measurements	4. Fair Value Measurements Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability (at exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The three levels of inputs that may be used to measure fair value include: Level 1: Quoted prices in active markets for identical assets or liabilities. Our Level 1 assets consist of money market investments. We do not have Level 1 liabilities. Level 2: Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities in active markets or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Our Level 2 assets consist of U.S. treasury securities. We do not have Level 2 liabilities. Level 3: Unobservable inputs that are supported by little or no market activity. We do not have Level 3 assets. The contingent purchase consideration related to the undeveloped lucitanib product rights acquired with the purchase of EOS in November 2013 is a Level 3 liability. The fair value of this liability is based on unobservable inputs and includes valuations for which there is little, if any, market activity. During the second quarter of 2016, we recorded a $25.5 million reduction in the fair value of the contingent purchase consideration liability due to our and our development partner’s decision to discontinue the development of lucitanib for breast cancer, reducing the remaining fair value to zero. The fair value and carrying value remained at zero as of December 31, 2016. The following table identifies our assets and liabilities that were measured at fair value on a recurring basis (in thousands): Balance Level 1 Level 2 Level 3 December 31, 2016 Assets: Money market $ $ $ — $ — U.S. treasury securities — — Total assets at fair value $ $ $ $ — Liabilities: Contingent purchase consideration $ — $ — $ — $ — Total liabilities at fair value $ — $ — $ — $ — December 31, 2015 Assets: Money market $ $ $ — $ — U.S. treasury securities — — Total assets at fair value $ $ $ $ — Liabilities: Contingent purchase consideration $ $ — $ — $ Total liabilities at fair value $ $ — $ — $ There were no liabilities that were measured at fair value on a recurring basis as of December 31, 2016. There were no transfers between the Level 1 and Level 2 categories or into or out of the Level 3 category during the year ended December 31, 2016. The following table rolls forward the fair value of Level 3 instruments (significant unobservable inputs) (in thousands): For the Year Ended December 31, 2016 Liabilities: Balance at beginning of period $ Change in fair value Change in foreign currency gains and losses Balance at end of period $ — The change in the fair value of Level 3 instruments is included in change in fair value of contingent purchase consideration and foreign currency gains (losses) for changes in the foreign currency translation rate on the Consolidated Statements of Operations. Financial instruments not recorded at fair value include our convertible senior notes. At December 31, 2016, the carrying amount of the convertible senior notes was $281. 1 million, which represents the aggregate principal amount net of remaining debt issuance costs, and the fair value was $297.6 million. The fair value was determined using Level 2 inputs based on the indicative pricing published by certain investment banks or trading levels of the convertible senior notes, which are not listed on any securities exchange or quoted on an inter-dealer automated quotation system. See Note 7, Convertible Senior Notes for discussion of the convertible senior notes. The carrying amounts of accounts payable and accrued expenses approximate their fair value due to their short-term maturities.

Available-for-Sale Securities

Available-for-Sale Securities	12 Months Ended
	Dec. 31, 2016
Available-for-Sale Securities
Available-for-Sale Securities	5. Available-for-Sale Securities As of December 31, 2016, available-for-sale securities consisted of the following (in thousands): Gross Gross Aggregate Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. treasury securities $ $ — $ $ As of December 31, 2016, the fair value and gross unrealized losses of available-for-sale securities that have been in a continuous unrealized loss position for less than 12 months were as follows (in thousands): Aggregate Gross Fair Unrealized Value Losses U.S. treasury securities $ $ Our investments have been in an unrealized loss position for one month. Based upon our evaluation of all relevant factors, we believe that the decline in fair value of securities held at December 31, 2016 below cost is temporary, and we intend to retain our investment in these securities for a sufficient period of time to allow for recovery of the fair value. As of December 31, 2016, the amortized cost and fair value of available-for-sale securities by contractual maturity were (in thousands): Amortized Fair Cost Value Due in one year or less $ $ Due in one year to two years — — Total $ $

Intangible Assets and Goodwill

Intangible Assets and Goodwill	12 Months Ended
	Dec. 31, 2016
Intangible Assets and Goodwill
Intangible Assets and Goodwill	6. Intangible Assets and Goodwill At December 31, 2016, intangible assets related to capitalized milestones under license agreements consisted of the following (in thousands): December 31, 2016 Intangible asset - milestones $ Accumulated amortization Total intangible asset, net $ The estimated useful lives of these intangibles assets extended through 2031. There were no intangible assets related to capitalized milestones under license agreement as of December 31, 2015. We recorded an amortization expense of $0.053 million related to capitalized milestone payments during the year ended December 31, 2016. There was no amortization expense during the year ended December 31, 2015. Estimated future amortization expense for intangible assets as of December 31, 2016 is as follows (in thousands): 2017 $ 2018 2019 2020 2021 Thereafter $ IPR&D assets and goodwill were established as part of the purchase accounting of EOS in November 2013, and consisted of the following (in thousands): December 31, 2016 2015 IPR&D assets: Balance at beginning of period $ $ Impairment of intangible asset (a) Change in foreign currency gains and losses Balance at end of period $ — $ Goodwill: Balance at beginning of period $ $ Change in foreign currency gains and losses Balance at end of period $ $ (a) During the second quarter of 2016, we recorded a $104.5 million impairment charge due to our and our development partner’s decision to discontinue the development of lucitanib for breast cancer. At December 31, 2016, the IPR&D intangible asset recorded on the Consolidated Balance Sheets was zero. During the fourth quarter of 2015, we recorded an $89.6 million impairment charge due to our and our development partner’s decision to terminate the development of lucitanib for lung cancer, as well as updates to the probability-weighted discounted cash flow assumptions for the breast cancer indication. These reductions were included in impairment of intangible asset on the Consolidated Statements of Operations. As of December 31, 2016, no impairment to the carrying value of the goodwill was identified.

Convertible Senior Notes

Convertible Senior Notes	12 Months Ended
	Dec. 31, 2016
Convertible Senior Notes.
Convertible Senior Notes	7. Convertible Senior Notes On September 9, 2014, we completed a private placement of $287.5 million aggregate principal amount of 2.5% convertible senior notes due 2021 (the “Notes”) resulting in net proceeds of $278.3 million after deducting offering expenses. In accordance with the accounting guidance, the conversion feature did not meet the criteria for bifurcation, and the entire principal amount was recorded as a long-term liability on the Consolidated Balance Sheets. The Notes are governed by the terms of the indenture between the Company, as issuer, and The Bank of New York Mellon Trust Company, N.A., as trustee. The Notes are senior unsecured obligations and bear interest at a rate of 2.5% per year, payable semi-annually in arrears on March 15 and September 15 of each year. The Notes will mature on September 15, 2021, unless earlier converted, redeemed or repurchased. Holders may convert all or any portion of the Notes at any time prior to the close of business on the business day immediately preceding the maturity date. Upon conversion, the holders will receive shares of our common stock at an initial conversion rate of 16.1616 shares per $1,000 in principal amount of Notes, equivalent to a conversion price of approximately $61.88 per share. The conversion rate is subject to adjustment upon the occurrence of certain events described in the indenture, but will not be adjusted for any accrued and unpaid interest. In addition, following certain corporate events that occur prior to the maturity date or upon our issuance of a notice of redemption, we will increase the conversion rate for holders who elect to convert the Notes in connection with such a corporate event or during the related redemption period in certain circumstances. On or after September 15, 2018, we may redeem the Notes, at our option, in whole or in part, if the last reported sale price of our common stock has been at least 150% 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 not more than two trading days preceding the date on which we provide written notice of redemption at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the Notes. If we undergo a fundamental change, as defined in the indenture, prior to the maturity date of the Notes, holders may require us to repurchase for cash all or any portion of the Notes at a fundamental change repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. The Notes rank senior in right of payment to any of our indebtedness that is expressly subordinated in right of payment to the Notes; equal in right of payment to all of our liabilities that are not so subordinated; effectively junior in right of payment to any secured indebtedness to the extent of the value of the assets securing such indebtedness; and structurally junior to all indebtedness and other liabilities (including trade payables) of our subsidiaries. In connection with the issuance of the Notes, we incurred $9.2 million of debt issuance costs. The debt issuance costs are amortized as interest expense over the expected life of the Notes using the effective interest method. We determined the expected life of the debt was equal to the seven-year term of the Notes. As of December 31, 2016 and 2015, the balance of unamortized debt issuance costs was $6.4 million and $7.6 million, respectively, and is recorded as a reduction to the convertible senior notes at the Consolidated Balance Sheets. The following table sets forth total interest expense recognized related to the Notes during the years ended December 31, 2016 and 2015 (in thousands): Year ended December 31, 2016 2015 Contractual interest expense $ $ Accretion of interest on milestone liability — Amortization of debt issuance costs Total interest expense $ $

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2016
Stockholders? Equity
Stockholders' Equity	8. Stockholders’ Equity Common Stock In July 2015, we sold 4,054,487 shares of our common stock in a public offering at $78.00 per share. The net proceeds from the offering were $298.5 million, after deducting underwriting discounts and commissions and offering expenses. In January 2017, we sold 5,750,000 shares of our common stock in a public offering at $41.00 per share. The net proceeds from the offering were $221. 2 million, after deducting underwriting discounts and commissions and offering expenses. The holders of common stock are entitled to one vote per share on all matters to be voted upon by our stockholders. Subject to the preferences that may be applicable to any outstanding shares of preferred stock, the holders of common stock are entitled to receive ratably such dividends, if any, as may be declared by our Board of Directors. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss consists of changes in foreign currency translation adjustments, which includes changes in a subsidiary’s functional currency, and unrealized gains and losses on available-for-sale securities. The accumulated balances related to each component of other comprehensive income (loss) are summarized as follows (in thousands): Total Foreign Accumulated Currency Other Translation Unrealized Comprehensive Adjustments (Losses) Gains Loss Balance December 31, 2014 $ $ — $ Other comprehensive income (loss) Total before tax Tax effect — — — Balance December 31, 2015 Other comprehensive income (loss) Total before tax Tax effect Balance December 31, 2016 $ $ $ The other comprehensive income (loss) related to foreign currency translation adjustments for the years ended December 31, 2016 and 2015 was primarily due to the currency translation of the IPR&D intangible assets, goodwill and deferred income taxes (see Note 6, Intangible Assets and Goodwill ). There were no reclassifications out of accumulated other comprehensive loss in the both years ended December 31, 2016 and 2015.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2016
Share-Based Compensation
Share-Based Compensation	9. Share-Based Compensation Stock Options In August 2011, our Board of Directors approved the 2011 Stock Incentive Plan (the “2011 Plan”), which became effective upon the closing of our initial public offering in November 2011. The 2011 Plan provides for the granting of incentive and nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards and other share-based awards to our employees, directors and consultants. Common shares authorized for issuance under the 2011 Plan were 7,799,048 at December 31, 2016, which represents the initial reserve of 1,250,000 shares of common stock plus 192,185 shares of common stock remaining for future grant from the 2009 Equity Incentive Plan (the “2009 Plan”), which was terminated upon the closing of our initial public offering in November 2011, and 6,356,863 new shares authorized by the Board of Directors at the annual meetings of stockholders. Future forfeitures and cancellations of options previously granted under the 2009 Plan were transferred to and also available for grant under the 2011 Plan. Stock options granted vest ratably over either a one-year period or three-year period for Board of Director grants. Employee stock options generally vest over a four-year period with 25% of the options cliff-vesting after year one and the remaining options vesting ratably over each subsequent month. All stock options expire 10 years from the date of grant. Share-based compensation expense for the years ended December 31, 2016, 2015 and 2014, respectively, was recognized in the accompanying Consolidated Statements of Operations as follows (in thousands): Year ended December 31, 2016 2015 2014 Research and development $ $ $ Selling, general and administrative Total share-based compensation expense $ $ $ We did not recognize a tax benefit related to share-based compensation expense during the years ended December 31, 2016, 2015 and 2014, respectively, as we maintain net operating loss carryforwards and has established a valuation allowance against the entire net deferred tax asset as of December 31, 2016. The following table summarizes the activity relating to our options to purchase common stock: Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Exercise Contractual Value Options Price Term (Years) (Thousands) Outstanding at December 31, 2015 $ 51.53 Granted Exercised Forfeited Outstanding at December 31, 2016 (a) $ $ Vested and expected to vest at December 31, 2016 $ $ Vested and exercisable at December 31, 2016 $ $ (a) Includes 33,750 performance-based stock options granted to our executives in the first quarter of 2015 , which vested on approval by the FDA in December 19, 2016 to commercially distribute, sell or market Rubraca. Related stock compensation expense was recognized on that date. The aggregate intrinsic value in the table above represents the pretax intrinsic value, based on our closing stock price of $44.42 as of December 31, 2016, which would have been received by the option holders had all option holders with in-the-money options exercised their options as of that date. The following table summarizes information about our stock options as of and for the years ended December 31, 2016, 2015 and 2014: Year ended December 31, 2016 2015 2014 Weighted-average grant date fair value per share $ $ $ Intrinsic value of options exercised $ $ $ Cash received from stock option exercises $ $ $ The fair value of each share-based award is estimated on the grant date using the Black-Scholes option pricing model based upon the weighted-average assumptions provided in the following table: Year ended December 31, 2016 2015 2014 Dividend yield — — — Volatility (a) % % % Risk-free interest rate (b) % % % Expected term (years) (c) (a) Volatility : The expected volatility was estimated using our historical data. (b) Risk-free interest rate: The rate is based on the yield on the grant date of a zero-coupon U.S. Treasury bond whose maturity period approximates the option’s expected term. (c) Expected term: The expected term of the award was estimated using our historical data. The total fair value of stock options vested during the years ended December 31, 2016, 2015 and 2014 was $40.8 million, $36.5 million and $13.0 million, respectively. Restricted Stock During 2016, we issued restricted stock units (“RSUs”) to certain employees under the 2011 Stock Incentive Plan. The RSUs ratably cliff vest after year one with the remaining RSUs vesting ratably each subsequent quarter over either the two-year or four-year vesting period of the grant. Vested RSUs are payable in shares of our common stock at the end of the vesting period. RSUs are measured based on the fair value of the underlying stock on the grant date. Shares issued on the vesting dates are net of the minimum statutory tax to be paid by us on behalf of our employees. As a result, the actual number of shares issued will be lower than the actual number of RSUs vested. The following table summarizes the activity related to our unvested RSUs: Weighted Average Number of Grant Date Units Fair Value Unvested at December 31, 2015 — $ — Granted Vested (a) Forfeited Unvested as of December 31, 2016 $ Expected to vest after December 31, 2016 $ (a) During 2016, we accelerated vesting of RSUs for certain employees. Common Stock Reserved for Issuance As of December 31, 2016, we reserved shares of common stock for future issuance as follows: Available for Grant Total Shares of Common Stock or Future Common Stock Outstanding Issuance Reserved 2009 Equity Incentive Plan — 2011 Stock Incentive Plan 2011 Employee Stock Purchase Plan — Total Employee Stock Purchase Plan In August 2011, our Board of Directors approved the Clovis Oncology, Inc. 2011 Employee Stock Purchase Plan (the “Purchase Plan”). Each year, on the date of our annual meeting of stockholders and at the discretion of our board of directors, the amount of shares reserved for issuance under the Purchase Plan may be increased by up to the lesser of (1) a number of additional shares of our common stock representing 1% of our then-outstanding shares of common stock, (2) 344,828 shares of our common stock and (3) a lesser number of shares as approved by the Board. The Purchase Plan provides for consecutive six-month offering periods, during which participating employees may elect to have up to 10% of their compensation withheld and applied to the purchase of common stock at the end of each offering period. The purchase price of the common stock is 85% of the lower of the fair value of a share of common stock on the first trading date of each offering period or the fair value of a share of common stock on the last trading day of the offering period. The Purchase Plan will terminate on August 24, 2021, the tenth anniversary of the date of initial adoption of the Purchase Plan. We sold 110,508 and 32,021 shares to employees in 2016 and 2015, respectively. There were 265,723 shares available for sale under the Purchase Plan as of December 31, 2016. The weighted-average estimated grant date fair value of purchase awards under the Purchase Plan during the years ended December 31, 2016 and 2015 was $11.70 and $26.80 per share, respectively. The total share-based compensation expense recorded as a result of the Purchase Plan was approximately $0.8 million, $0.9 million and $0.2 million during the years ended December 31, 2016, 2015 and 2014, respectively. The fair value of purchase awards granted to our employees during the years ended December 31, 2016, 2015 and 2014, respectively, was estimated using the Black-Scholes option pricing model based upon the weighted-average assumptions provided in the following table: Year ended December 31, 2016 2015 2014 Dividend yield — — — Volatility (a) % % % Risk-free interest rate (b) % % % Expected term (years) (c) (a) Volatility : The expected volatility was estimated using our historical data. (b) Risk-free interest rate: The rate is based on the U.S. Treasury yield in effect at the time of grant with terms similar to the contractual term of the purchase right. (c) Expected term: The expected life of the award represents the six-month offering period for the Purchase Plan. Unrecognized share-based compensation expense related to non-vested options and RSUs, adjusted for expected forfeitures, was $86.8 million as of December 31, 2016. The unrecognized share-based compensation expense is expected to be recognized over the weighted-average remaining vesting period of 3.1 years.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies.
Commitments and Contingencies	10. Commitments and Contingencies We lease office space in Boulder, Colorado, San Francisco, California, Cambridge, UK and Milan, Italy under non-cancelable operating lease agreements that expire through 2023. The lease agreements contain periodic rent increases that result in the recording deferred rent over the terms of certain leases. In June 2015, we entered into a seven-year lease agreement for new office space in Boulder, Colorado. Pursuant to the terms of the lease, the landlord reimbursed us for $1.1 million of leasehold improvement expenditures (the “Tenant Improvement Allowance”). In December 2015, upon completion of construction, we recorded the Tenant Improvement Allowance as deferred rent, which is being amortized as a reduction to rental expense over the lease term. Rental expense under these leases was $2.2 million, $2.4 million and $1.4 million for the years ended December 31, 2016, 2015 and 2014, respectively. Future minimum rental commitments, by fiscal year and in the aggregate, for our operating leases are provided below (in thousands): December 31, 2016 2017 $ 2018 2019 2020 2021 Thereafter Total future minimum lease payments $ Manufacture and Services Agreement Commitments On October 3, 2016, we entered into a Manufacturing and Services Agreement (the “Agreement”) with a non-exclusive third-party supplier for the production of the active ingredient for rucaparib. Under the terms of the Agreement, we will provide the third-party supplier a rolling forecast for the supply of the active ingredient in rucaparib that will be updated by us on a quarterly basis. We are obligated to order material sufficient to satisfy an initial quantity specified any forecast. In addition, the third-party supplier will construct, in its existing facility, a production train that will be exclusively dedicated to the manufacture of the rucaparib active ingredient. We are obligated to make scheduled capital program fee payments toward capital equipment and other costs associated with the construction of the dedicated production train. Further, once the facility is operational, we are obligated to pay a fixed facility fee each quarter for the duration of the Agreement, which expires on December 31, 2025, unless extended by mutual consent of the parties. As of December 31, 2016, $171.4 million of purchase commitments exist under the Agreement. We have an existing agreement with the same third-party supplier, dated February 8, 2013, as amended, under which the third-party supplier supplied the active ingredient for rucaparib for clinical development. During the years ended December 31, 2016, 2015 and 2014, $9.7 million, $6.0 million and $3.3 million, respectively, of purchases were performed under this agreement. Legal Proceedings We and certain of our officers were named as defendants in several lawsuits, as described below. We cannot reasonably predict the outcome of these legal proceedings, nor can we estimate the amount of loss or range of loss, if any, that may result. An adverse outcome in these proceedings could have a material adverse effect on our results of operations, cash flows or financial condition. On November 19, 2015, Steve Kimbro, a purported shareholder of Clovis, filed a purported class action complaint (the “Kimbro Complaint”) against Clovis and certain of its officers in the United States District Court for the District of Colorado. The Kimbro Complaint purports to be asserted on behalf of a class of persons who purchased Clovis stock between October 31, 2013 and November 15, 2015. The Kimbro Complaint generally alleges that Clovis and certain of its officers violated federal securities laws by making allegedly false and misleading statements regarding the progress toward FDA approval and the potential for market success of rociletinib. The Kimbro Complaint seeks unspecified damages. Also on November 19, 2015, a second purported shareholder class action complaint was filed by Sonny P. Medina, another purported Clovis shareholder, containing similar allegations to those set forth in the Kimbro Complaint, also in the United States District Court for the District of Colorado (the “Medina Complaint”). The Medina Complaint purports to be asserted on behalf of a class of persons who purchased Clovis stock between May 20, 2014 and November 13, 2015. On November 20, 2015, a third complaint was filed by John Moran in the United States District Court for the Northern District of California (the “Moran Complaint”). The Moran Complaint contains similar allegations to those asserted in the Kimbro and Medina Complaints and purports to be asserted on behalf of a plaintiff class who purchased Clovis stock between October 31, 2013 and November 13, 2015. On December 14, 2015, Ralph P. Rocco, a fourth purported shareholder of Clovis, filed a complaint in the United States District Court for the District of Colorado (the “Rocco Complaint”). The Rocco Complaint contains similar allegations to those set forth in the previous complaints and purports to be asserted on behalf of a plaintiff class who purchased Clovis stock between October 31, 2013 and November 15, 2015. On January 19, 2016, a number of motions were filed in both the District of Colorado and the Northern District of California seeking to consolidate the shareholder class actions into one matter and for appointment of a lead plaintiff. All lead plaintiff movants other than M. Arkin (1999) LTD and Arkin Communications LTD (the “Arkin Plaintiffs”) subsequently filed notices of non-opposition to the Arkin Plaintiffs’ application. On February 2, 2016, the Arkin Plaintiffs filed a motion to transfer the Moran Complaint to the District of Colorado (the “Motion to Transfer”). Also on February 2, 2016, the defendants filed a statement in the Northern District of California supporting the consolidation of all actions in a single court, the District of Colorado. On February 3, 2016, the Northern District of California court denied without prejudice the lead plaintiff motions filed in that court pending a decision on the Motion to Transfer. On February 16, 2016, the defendants filed a memorandum in support of the Motion to Transfer, and plaintiff Moran filed a notice of non-opposition to the Motion to Transfer. On February 17, 2016, the Northern District of California court granted the Motion to Transfer. On February 18, 2016, the Medina court issued an opinion and order addressing the various motions for consolidation and appointment of lead plaintiff and lead counsel in the District of Colorado actions. By this ruling, the court consolidated the Medina, Kimbro and Rocco actions into a single proceeding. The court also appointed the Arkin Plaintiffs as the lead plaintiffs and Bernstein Litowitz Berger & Grossman as lead counsel for the putative class. On April 1, 2016, the Arkin Plaintiffs and the defendants filed a stipulated motion to set the schedule for the filing of a consolidated complaint in the Medina, Kimbro and Rocco actions (the “Consolidated Complaint”) and the responses thereto, including the defendants’ motion to dismiss the Consolidated Complaint (the “Motion to Dismiss”), and to stay discovery and related proceedings until the District of Colorado issues a decision on the Motion to Dismiss. The stipulated motion was entered by the District of Colorado on April 4, 2016. Subject to further agreed-upon extensions by the parties, the Arkin Plaintiffs filed a Consolidated Complaint on May 6, 2016. The Consolidated Complaint names as defendants the Company and certain of its current and former officers (the “Clovis Defendants”), certain underwriters (the “Underwriter Defendants”) for a Company follow-on offering conducted in July 2015 (the “July 2015 Offering”) and certain Company venture capital investors (the “Venture Capital Defendants”). The Consolidated Complaint alleges that defendants violated particular sections of the Securities Exchange Act of 1934 (the “Exchange Act”) and the Securities Act of 1933 (the “Securities Act”). The purported misrepresentations and omissions concern allegedly misleading statements about rociletinib. The consolidated action is purportedly brought on behalf of investors who purchased the Company’s securities between May 31, 2014 and April 7, 2016 (with respect to the Exchange Act claims) and investors who purchased the Company’s securities pursuant or traceable to the July 2015 Offering (with respect to the Securities Act claims). The Consolidated Complaint seeks unspecified compensatory and recessionary damages. On May 23, 2016, the Medina, Kimbro, Rocco, and Moran actions were consolidated for all purposes in a single proceeding in the District of Colorado. The Clovis Defendants, the Underwriter Defendants and the Venture Capital Defendants filed a Motion to Dismiss on July 27, 2016, the Arkin Plaintiffs filed their opposition on September 23, 2016, and the defendants filed their replies on October 14, 2016. On February 9, 2017, Judge Raymond P. Moore of the District of Colorado issued an Opinion and Order granting in part and denying in part the Clovis Defendants’ Motion to Dismiss. The Clovis Defendants’ Motion to Dismiss was granted with prejudice with respect to named defendant Gillian Ivers-Read and granted with respect to certain statements determined by the Court to be nonactionable statements of opinion or optimism. The Clovis Defendants’ Motion to Dismiss was otherwise denied. Next, the Court granted in part and denied in part the Underwriter Defendants’ Motion to Dismiss. The Underwriter Defendants’ Motion to Dismiss was granted without prejudice with respect to Plaintiffs’ claim under Section 12(a) of the Securities Act and granted insofar as the Court determined that certain statements challenged under Section 11 of the Securities Act are nonactionable statements of opinion or optimism. The Opinion and Order provided that Plaintiffs shall have until February 23, 2017 to file an amended pleading directed solely as to their Section 12(a) claim against the Underwriter Defendants. The Underwriters Defendants’ Motion to dismiss was otherwise denied. Finally, the court granted the Venture Capital Defendants’ Motion to Dismiss with prejudice. The Clovis Defendants intend to vigorously defend against the allegations contained in the Kimbro, Medina, Moran and Rocco Complaints, but there can be no assurance that the defense will be successful. On January 22, 2016, the Electrical Workers Local #357 Pension and Health & Welfare Trusts, a purported shareholder of Clovis, filed a purported class action complaint (the “Electrical Workers Complaint”) against Clovis and certain of its officers, directors, investors and underwriters in the Superior Court of the State of California, County of San Mateo. The Electrical Workers Complaint purports to be asserted on behalf of a class of persons who purchased stock in Clovis’ July 8, 2015 follow-on offering. The Electrical Workers Complaint generally alleges that the defendants violated the Securities Act because the offering documents for the July 8, 2015 follow-on offering contained allegedly false and misleading statements regarding the progress toward FDA approval and the potential for market success of rociletinib. The Electrical Workers Complaint seeks unspecified damages. On February 25, 2016, the defendants removed the case to the United States District Court for the Northern District of California and thereafter moved to transfer the case to the District of Colorado (“Motion to Transfer”). On March 2, 2016, the plaintiff filed a motion to remand the case to San Mateo County Superior Court (“Motion to Remand”). Following briefing on the Motion to Transfer and the Motion to Remand, the Northern District of California held a hearing on April 18, 2016 concerning the Motion to Remand, at the conclusion of which the court granted to the Motion to Remand. On May 5, 2016, the Northern District of California issued a written decision and order granting the Motion to Remand the case to the Superior Court, County of San Mateo and denying the Motion to Transfer as moot. While the case was pending in the United States District Court for the Northern District of California, the parties entered into a stipulation extending the defendants’ time to respond to the Electrical Workers Complaint for 30 days following the filing of an amended complaint by plaintiff or the designation by plaintiff of the Electrical Workers Complaint as the operative complaint. Following remand, Superior Court of the State of California, County of San Mateo so-ordered the stipulation on June 22, 2016. On June 30, 2016, the Electrical Workers Plaintiffs filed an amended Complaint (the “Amended Complaint”). The Amended Complaint names as defendants the Company and certain of its current and former officers and directors, certain underwriters for the July 2015 Offering and certain Company venture capital investors. The Amended Complaint purports to assert claims under the Securities Act based upon alleged misstatements in Clovis’ offering documents for the July 2015 Offering. The Amended Complaint includes new allegations about the Company’s rociletinib disclosures. The Amended Complaint seeks unspecified damages. Pursuant to a briefing schedule ordered by the court on July 28, 2016, defendants filed a motion to stay the Electrical Workers action pending resolution of the Medina, Kimbro, Moran, and Rocco actions in the District of Colorado (“Motion to Stay”), and a demurrer to the Amended Complaint, on August 15, 2016; plaintiffs filed their oppositions on August 31, 2016; and the defendants filed their reply briefs on September 15, 2016. On September 23, 2016, after hearing oral argument, the San Mateo Superior Court granted defendants’ motion to stay proceedings pending resolution of the related securities class action captioned Medina v. Clovis Oncology, Inc., et. al. , No. 1:15-cv-2546 (the “Colorado Action”). Per the order to stay proceedings, the San Mateo Superior Court will defer issuing a ruling on defendants’ pending demurrer, and the parties’ first status report as to the progress of the Colorado Action is due on March 23, 2017. The Company intends to vigorously defend against the allegations contained in the Electrical Workers Amended Complaint, but there can be no assurance that the defense will be successful. On November 10, 2016, Antipodean Domestic Partners (“Antipodean”) filed a complaint (the “Antipodean Complaint”) against Clovis and certain of its officers, directors and underwriters in New York Supreme Court, County of New York. The Antipodean Complaint alleges that the defendants violated certain sections of the Securities Act by making allegedly false statements to Antipodean and in the Offering Materials for the Secondary Offering relating to the efficacy of rociletinib, its safety profile, and its prospects for market success. In addition to the Securities Act claims, the Antipodean Complaint also asserts Colorado state law claims, and common law claims. Both the state law and common law claims are based on the allegedly false and misleading statements regarding rociletinib’s progress toward FDA approval. The Antipodean Complaint seeks compensatory, recessionary, and punitive damages. On December 15, 2016, the Antipodean Plaintiffs filed an amended complaint (“the Amended Complaint”) asserting substantially the same claims against the same defendants. The Amended Complaint purports to correct certain details in the original Complaint. On January 21, 2017, the parties entered into a stipulation extending the defendants’ time to respond to the Antipodean Amended Complaint until March 29, 2017, subject to the terms and conditions stated therein. Pursuant to the January 21, 2017 stipulation, the defendants filed a motion to stay the Antipodean action pending resolution of the Medina, Kimbro, Moran, and Rocco actions in the District of Colorado (“Motion to Stay”) on January 31, 2017. The Motion to Stay has a scheduled return date of March 24, 2017. The Company intends to vigorously defend against the allegations contained in the Antipodean Amended Complaint, but there can be no assurance that the defense will be successful. We received a letter dated May 31, 2016 from an alleged owner of our common stock, which purports to set forth a demand for inspection of certain of our books and records pursuant to 8 Del. C. § 220 (the “Macalinao Demand Letter”). The Macalinao Demand Letter was purportedly made for the purposes of investigating alleged misconduct at the Company relating to rociletinib. On June 24, 2016, we submitted a response to the Macalinao Demand Letter. We believe that the allegations in the Macalinao Demand Letter are unfounded and that the Macalinao Demand Letter fails to establish an entitlement to any of the requested documents, but there can be no assurance about the likelihood of an adverse outcome. In January 2017, the Company produced certain books and records in response to the Macalinao Demand Letter. We received a letter dated December 15, 2016 from a second alleged owner of our common stock, which purports to set forth a demand for inspection of the Company’s books and records pursuant to 8 Del. C. § 220 (the “McKenry Demand Letter”). The McKenry Demand Letter was purportedly made for the purposes of investigating alleged misconduct at the Company relating to rociletinib. In addition, citing unnamed sources, the McKenry Demand Letter alleges that the Company engaged in patient eligibility, record management and verification, and informed consent violations in connection with the TIGER-X study at multiple testing sites, and that the FDA is purportedly investigating the Company’s conduct. On January 4, 2017, we submitted a response to the McKenry Demand Letter. The Company believes that the allegations in the McKenry Demand Letter are unfounded and that the McKenry Demand Letter fails to establish an entitlement to any of the requested documents, but there can be no assurance about the likelihood of an adverse outcome. In February 2017, the Company produced certain books and records in response to the McKenry Demand Letter. We have received requests for information from governmental agencies relating to our regulatory update announcement in November 2015 that the FDA requested additional clinical data on the efficacy and safety of rociletinib. We are cooperating with the inquiries.

License Agreements

License Agreements	12 Months Ended
	Dec. 31, 2016
License Agreements
License Agreements	11. License Agreements Rucaparib In June 2011, we entered into a worldwide license agreement with Pfizer Inc. to obtain exclusive global rights to develop and commercialize rucaparib. The exclusive rights are exclusive even as to Pfizer and include the right to grant sublicenses. Pursuant to the terms of the license agreement, we made a $7.0 million upfront payment to Pfizer. In April 2014, we initiated a pivotal registration study for rucaparib, which resulted in a $0.4 million milestone payment to Pfizer as required by the license agreement. In September 2016, we made milestone payment of $0.5 million to Pfizer upon acceptance of the NDA for rucaparib by the FDA. The MAA submission with the EMA for a comparable ovarian cancer indication was accepted by the MAA during the fourth quarter of 2016, which resulted in a $0.5 million milestone payment to Pfizer as required by the license agreement. These payments were recognized as acquired in-process research and development expense. On August 30, 2016, we entered into a first amendment to the worldwide license agreement with Pfizer, which amends the June 2011 existing worldwide license agreement to permit us to defer payment of the milestone payments payable upon (i) FDA approval of an NDA for 1 st Indication in US and (ii) EMA approval of an MAA for 1 st Indication in EU, to a date that is 18 months after the date of achievement of such milestones. In the event that we defer such milestone payments, we have agreed to certain higher payments related to the achievement of such milestones. On December 19, 2016, the FDA approved Rubraca tablets as monotherapy for the treatment of patients with deleterious BRCA mutation (germline and/or somatic) associated with advanced ovarian cancer, who have been treated with two or more chemotherapies, and selected for therapy based on FDA-approved companion diagnostic for Rubraca. The FDA approval resulted in a $0.75 million milestone payment to Pfizer as required by the license agreement. The FDA approval also resulted in the obligation to pay a $20.0 million milestone payment, for which we have exercised the option to defer payment by agreeing to pay $23.0 million within 18 months after the date of the FDA approval. These payments were recognized as intangible assets and amortized over the estimated remaining useful life of rucaparib. We are obligated under the license agreement to use commercially reasonable efforts to develop and commercialize rucaparib and we are responsible for all remaining development and commercialization costs for rucaparib. We are required to make regulatory milestone payments to Pfizer of up to an additional $69.75 million in aggregate if specified clinical study objectives and regulatory filings, acceptances and approvals are achieved. In addition, we are obligated to make sales milestone payments to Pfizer if specified annual sales targets for rucaparib are met, the majority of which relate to annual sales targets of $500.0 million and above, which, in the aggregate, could amount to total milestone payments of $170.0 million, and tiered royalty payments at a mid-teen percentage rate on our net sales, with standard provisions for royalty offsets to the extent we need to obtain any rights from third parties to commercialize rucaparib. The license agreement with Pfizer will remain in effect until the expiration of all of our royalty and sublicense revenue obligations to Pfizer, determined on a product-by-product and country-by-country basis, unless we elect to terminate the license agreement earlier. If we fail to meet our obligations under the agreement and are unable to cure such failure within specified time periods, Pfizer can terminate the agreement, resulting in a loss of our rights to rucaparib and an obligation to assign or license to Pfizer any intellectual property rights or other rights we may have in rucaparib, including our regulatory filings, regulatory approvals, patents and trademarks for rucaparib. In April 2012, we entered into a license agreement with AstraZeneca UK Limited to acquire exclusive rights associated with rucaparib under a family of patents and patent applications that claim methods of treating patients with PARP inhibitors in certain indications. The license enables the development and commercialization of rucaparib for the uses claimed by these patents. Pursuant to the terms of the license agreement, we made an upfront payment of $0.25 million upon execution of the agreement. During the second quarter of 2016, we made a milestone payment of $0.3 million to AstraZeneca upon the NDA submission for rucaparib. These payments were recognized as acquired in-process research and development expense. The FDA approval of rucaparib on December 19, 2016 resulted in a $0.35 million milestone payment to AstraZeneca as required by the license agreement. This payment was recognized in intangible assets and amortized over the estimated remaining useful life of rucaparib. AstraZeneca will also receive royalties on any net sales of rucaparib. Lucitanib In connection with our acquisition of EOS in November 2013, we gained rights to develop and commercialize lucitanib, an oral, selective tyrosine kinase inhibitor. As further described below, EOS licensed the worldwide rights, excluding China, to develop and commercialize lucitanib from Advenchen Laboratories LLC (“Advenchen”). Subsequently, rights to develop and commercialize lucitanib in markets outside the U.S. and Japan were sublicensed by EOS to Servier in exchange for upfront milestone fees, royalties on sales of lucitanib in the sublicensed territories and research and development funding commitments. In October 2008, EOS entered into an exclusive license agreement with Advenchen to develop and commercialize lucitanib on a global basis, excluding China. We are obligated to pay Advenchen tiered royalties at percentage rates in the mid-single digits on net sales of lucitanib, based on the volume of annual net sales achieved. In addition, we are obligated to pay to Advenchen 25% of any consideration, excluding royalties, received pursuant to any sublicense agreements for lucitanib, including the agreement with Servier. We are obligated under the agreement to use commercially reasonable efforts to develop and commercialize at least one product candidate containing lucitanib, and we are also responsible for all remaining development and commercialization costs for lucitanib. In the first quarter of 2014, we recognized acquired in-process research and development expense of $3.4 million, which represents 25% of the sublicense agreement consideration of $13.6 million received from Servier upon the end of opposition and appeal of the lucitanib patent by the European Patent Office. In September 2012, EOS entered into a collaboration and license agreement with Servier whereby EOS sublicensed to Servier exclusive rights to develop and commercialize lucitanib in all countries outside of the U.S., Japan and China. In exchange for these rights, EOS received an upfront payment of €45.0 million. We are entitled to receive additional payments upon achievement of specified development, regulatory and commercial milestones up to €100.0 million in the aggregate, €10.0 million of which was received in the first quarter of 2014. In addition, we are entitled to receive sales milestone payments if specified annual sales targets for lucitanib are met, which, in the aggregate, could total €250.0 million. We are also entitled to receive royalties at percentage rates ranging from low to mid-teens on sales of lucitanib by Servier. The development, regulatory and commercial milestones represent non-refundable amounts that would be paid by Servier to us if certain milestones are achieved in the future. These milestones, if achieved, are substantive as they relate solely to past performance, are commensurate with estimated enhancement of value associated with the achievement of each milestone as a result of our performance, which are reasonable relative to the other deliverables and terms of the arrangement, and are unrelated to the delivery of any further elements under the arrangement. We and Servier are developing lucitanib pursuant to a development plan agreed to between the parties. Servier is responsible for all of the global development costs for lucitanib up to €80.0 million. Cumulative global development costs in excess of €80.0 million, if any, will be shared equally between us and Servier. During the second quarter of 2016, we and Servier agreed to discontinue the development of lucitanib for breast cancer and lung cancer and are continuing to evaluate what, if any, further development of lucitanib will be pursued. Based on current estimates, we expect to complete the committed on-going development activities in 2017 and expect full reimbursement of our development costs from Servier. Reimbursements are recorded as a reduction to research and development expense on the Consolidated Statements of Operations. We recorded a $1.3 million and $3.2 million receivable at December 31, 2016 and 2015, respectively, for the reimbursable development costs incurred under the global development plan, which is included in other current assets on the Consolidated Balance Sheets. During the years ending December 31, 2016, 2015 and 2014, we incurred $7.7 million, $13.7 million and $9.5 million, respectively, in research and development costs and recorded reductions in research and development expense of $9.0 million, $11.8 million and $10.0 million, respectively, for reimbursable development costs due from Servier. Rociletinib In May 2010, we entered into an exclusive worldwide license agreement with Celgene to discover, develop and commercialize a covalent inhibitor of mutant forms of the epidermal growth factor receptor (“EGFR”) gene product. Rociletinib was identified as the lead inhibitor candidate under the license agreement. We are responsible for all non-clinical, clinical, regulatory and other activities necessary to develop and commercialize rociletinib. We made an upfront payment of $2.0 million upon execution of the license agreement, a $4.0 million milestone payment in the first quarter of 2012 upon the acceptance by the FDA of our Investigational New Drug application for rociletinib and a $5.0 million milestone payment in the first quarter of 2014 upon initiation of the Phase II study for rociletinib. In the third quarter of 2015, we made milestone payments totaling $12.0 million upon acceptance of the NDA and MAA for rociletinib by the FDA and EMA, respectively. We recognized all payments prior to commercial approval as acquired in-process research and development expense. We are obligated to pay royalties at percentage rates ranging from mid-single digits to low teens based on the volume of annual net sales achieved. We are required to pay up to an additional aggregate of $98.0 million in development and regulatory milestone payments if certain clinical study objectives and regulatory filings, acceptances and approvals are achieved. In addition, we are required to pay up to an aggregate of $120.0 million in sales milestone payments if certain annual sales targets are achieved, the majority of which relate to annual sales targets of $500.0 million and above.

Net Loss Per Common Share

Net Loss Per Common Share	12 Months Ended
	Dec. 31, 2016
Net Loss Per Common Share
Net Loss Per Common Share	12. Net Loss Per Common Share Basic net loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted-average number of common share equivalents outstanding using the treasury-stock method for the stock options and the if-converted method for the Notes. As a result of our net losses for the periods presented, all potentially dilutive common share equivalents were considered anti-dilutive and were excluded from the computation of diluted net loss per share. The shares outstanding at the end of the respective periods presented in the table below were excluded from the calculation of diluted net loss per share due to their anti-dilutive effect (in thousands): Year ended December 31, 2016 2015 2014 Common shares under option Convertible senior notes Total potential dilutive shares

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Taxes
Income Taxes	13. Income Taxes The geographical components of income (loss) before income taxes consisted of the following (in thousands): Year ended December 31, 2016 2015 2014 Domestic $ $ $ Foreign Total loss before income taxes $ $ $ The income tax provision consists of the following current and deferred foreign tax expenses (in thousands). No significant U.S. tax expense was recognized in the periods presented. Year ended December 31, 2016 2015 2014 Foreign: Current expense $ $ — $ Deferred (benefit) expense Total income tax (benefit) expense $ $ $ A reconciliation of the U.S. statutory income tax rate to our effective tax rate is as follows: Year ended December 31, 2016 2015 2014 Federal income tax benefit at statutory rate % % % State income tax benefit, net of federal benefit Tax credits Change in tax status of foreign subsidiary — — Limitation on future foreign tax credits — Change in uncertain tax positions — — Other Change in valuation allowance Effective income tax rate % % % The components of our deferred tax assets and liabilities are as follows (in thousands): December 31, 2016 2015 Deferred tax assets: Net operating loss carryforward $ $ Tax credit carryforwards Intangible assets Deductible foreign taxes — Share-based compensation expense Foreign currency translation Product acquisition costs Accrued liabilities and other Total deferred tax assets Valuation allowance Deferred tax assets, net of valuation allowance Deferred tax liabilities: Intangible assets — Contingent purchase consideration — Prepaid expenses and other Total deferred tax liabilities Net deferred tax liability $ — $ The realization of deferred tax assets is dependent upon a number of factors including future earnings, the timing and amount of which is uncertain. A valuation allowance was established for the net deferred tax asset balance due to management’s belief that the realization of these assets is not likely to occur in the foreseeable future. We recorded an increase to the valuation allowance of $143.3 million and $190.1 million during the years ended December 31, 2016 and 2015, respectively, primarily due to an increase in net operating loss and tax credit carryforwards. In addition, the Company recognizes tax benefits if it is more likely than not to be sustained under audit by the relevant taxing authority based on technical merits. An uncertain tax position will not be recognized if it has less than a 50% likelihood of being sustained during audit. If the threshold is met, the tax benefit is measured and recognized at the largest amount above the greater than 50% likelihood threshold at time of settlement. The balance of unrecognized tax benefits at December 31, 2016 of $24.1 million, if recognized, would not impact the Company’s effective tax rate as long as they remain subject to a full valuation allowance. The following table summarizes the gross amounts of unrecognized tax benefits (in thousands): Year ended December 31, 2016 Balance at beginning of year $ — Additions related to prior periods tax positions Additions related to current period tax positions Settlements with tax authorities — Expiration of statute of limitations — Balance at end of year $ There were no unrecognized tax benefits due to uncertain tax positions in 2015. As of December 31, 2016, we had approximately $711.8 million, $1.0 billion and $1.9 million of U.S. federal, state and foreign net operating loss carryforwards, respectively. The U.S. net operating losses will expire from 2029 to 203 6 if not utilized. Included in the U.S. net operating loss was approximately $18.2 million of stock compensation expense, the benefit of which, if realized, will be an increase to additional paid-in-capital and a reduction to taxes payable. In addition, we have research and development and orphan drug tax credit carryforwards of $240.7 million that will expire from 2029 through 203 6 if not utilized. We believe that a change in ownership as defined under Section 382 of the U.S. Internal Revenue Code occurred as a result of our public offering of common stock completed in April 2012. Future utilization of the federal net operating losses (“NOL”) and tax credit carryforwards accumulated from inception to the change in ownership date will be subject to annual limitations to offset future taxable income. At this time, we do not believe this limitation will prevent the utilization of the federal NOL or credit carryforward prior to expiration. It is possible that a change in ownership will occur in the future, which will limit the NOL amounts generated since the last estimated change. Our federal and state income taxes for the period from inception to December 31, 2016 remain open to an audit. Our foreign subsidiaries are also subject to tax audits by tax authorities in the jurisdictions where they operate for the periods from December 31, 2010 to December 31, 2016. In December 2014, we converted a non-U.S. entity into a U.S. entity for U.S. income tax purposes. As a result of this election, the subsidiary was treated as a flow through entity for U.S. federal tax purposes. The election generated deferred tax assets, calculated as the difference between the subsidiary’s tax basis and the underlying financial statement basis of the assets. We may be assessed interest and penalties related to the settlement of tax positions and such amounts will be recognized within income tax expense when assessed. To date, no interest and penalties have been recognized by us.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2016
Employee Benefit Plans
Employee Benefit Plans	14. Employee Benefit Plans We maintain a retirement plan, which is qualified under section 401(k) of the Internal Revenue Code for our U.S. employees. The plan allows eligible employees to defer, at the employee’s discretion, pretax compensation up to the IRS annual limits. We matched contributions up to 4% of the eligible employee’s compensation or the maximum amount permitted by law. Total expense for contributions made to U.S. employees was approximately $1.6 million, $0. 8 million and $0.4 million for the years ended December 31, 2016, 2015 and 2014, respectively. Our international employees participate in retirement plans or postretirement life insurance plans governed by the local laws in effect for the country in which they reside. We made contributions to the retirement plans or postretirement life insurance plans of international employees of approximately $0.2 million, $0.2 million and $0.1 million for the years ended December 31, 2016, 2015 and 2014, respectively.

Quarterly Information (Unaudite

Quarterly Information (Unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Information
Quarterly Information (Unaudited)	15. Quarterly Information (Unaudited) The results of operations on a quarterly basis for the years ended December 31, 2016 and 2015 were as follows (in thousands): March 31, June 30, September 30, December 31, March 31, June 30, September 30, December 31, 2016 2016 (1) 2016 2016 2015 2015 2015 2015 (1) Revenues: ` Product revenue, net $ — $ — $ — $ $ — $ — $ — $ — License and milestone revenue — — — — — — — — Total revenue — — — — — — — Expenses: Cost of sales - product — — — — — — — Research and development Selling, general and administrative Acquired in-process research and development — — — — Impairment of intangible asset — — — — — — Change in fair value of contingent purchase consideration — — Total expenses Operating loss Other income (expense): Interest expense Foreign currency gains (losses) Other income (expense) Other income (expense), net Loss before income taxes Income tax (expense) benefit Net loss $ $ $ $ $ $ $ $ Basic and diluted net loss per common share $ $ $ $ $ $ $ $ Basic and diluted weighted average common shares outstanding (1) In the second quarter of 2016, we recorded a $104.5 million impairment charge to the IPR&D intangible asset related to our lucitanib product candidate. In the fourth quarter of 2015, we recorded a $89.6 million intangible impairment charge which was also related to our lucitanib product candidate.

Nature of Business (Policies)

Nature of Business (Policies)	12 Months Ended
	Dec. 31, 2016
Summary of Significant Accounting Policies
Basis of Presentation	Basis of Presentation The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). The consolidated financial statements include our accounts and our wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.
Reclassifications	Reclassifications Certain reclassifications have been made to prior year amounts to conform to the current year presentation. These reclassifications had no effect on our previously reported results of operations, financial position or cash flows.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, expenses and revenue and related disclosures. On an ongoing basis, we evaluate our estimates, including estimates related to revenue, contingent purchase consideration, intangible asset impairment, clinical trial accruals and share-based compensation expense. We base our estimates on historical experience and other market-specific or other relevant assumptions that we believe to be reasonable under the circumstances. Actual results may differ from those estimates or assumptions.
Revenue Recognition	Revenue Recognition We are currently approved to sell Rubraca in the United States market. We distribute our product principally through a limited number of specialty distributor and specialty pharmacy providers, collectively, our customers. Our customers subsequently resell our products to patients and health care providers. Separately, we have arrangements with certain payors and other third-parties that provide for government-mandated and privately-negotiated rebates, chargebacks and discounts. Revenues from product sales are recognized when persuasive evidence of an arrangement exists, delivery has occurred and title of the product and associated risk of loss has passed to the customer, the price is fixed or determinable, collection from the customer has been reasonably assured and all performance obligations have been met and returns and allowances can be reasonably estimated. Product sales are recorded net of estimated rebates, chargebacks, discounts and other deductions as well as estimated product returns. Estimating rebates, chargebacks, discounts, product returns and other deductions requires significant judgments about future events and uncertainties, and requires us to rely heavily on assumptions, as well as historical experience. We only recognize revenue on product sales once the product is resold to the patient or healthcare provider by the specialty distributor or specialty pharmacy provider, therefore reducing the significance of estimates made for product returns. For the year ended December 31, 2016, we recognized $0.1 million of product revenue. Based on our policy to expense costs associated with the manufacture of our products prior to regulatory approval, manufacturing of Rubraca units recognized as revenue during the year ended December 31, 2016 were expensed prior to the December 19, 2016 U.S. Food and Drug Administration (“FDA”) approval, and therefore are not included in cost of sales during the current period. We expect cost of sales to increase in relation to product revenues as we deplete these inventories. Revenue is recognized from license milestone payments when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable and, collectability is reasonably assured. We exercise judgment in determining that collectability is reasonably assured or that services have been delivered in accordance with the arrangement. We assess whether the fee is fixed or determinable based on the payment terms associated with the transaction and whether the sales price is subject to refund or adjustment. We assess collectability based primarily on the customer's payment history and creditworthiness of the customer. Payments that are contingent upon the achievement of a substantive milestone will be recognized in the period in which the milestone is achieved.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Cash, cash equivalents, available-for-sale securities and contingent purchase consideration are carried at fair value. Financial instruments, including other current assets and accounts payable, are carried at cost, which approximates fair value given their short-term nature (see Note 4, Fair Value Measurements ).
Cash, Cash Equivalents and Available-for-Sale Securities	Cash, Cash Equivalents and Available-for-Sale Securities We consider all highly liquid investments with original maturities at the date of purchase of three months or less to be cash equivalents. Cash and cash equivalents include bank demand deposits and money market funds that invest primarily in certificate of deposits, commercial paper and U.S. government and U.S. government agency obligations. Marketable securities are considered to be available-for-sale securities and consist of U.S. treasury securities. Available-for-sale securities are reported at fair value on the Consolidated Balance Sheets and unrealized gains and losses are included in accumulated other comprehensive loss on the Consolidated Balance Sheets. Realized gains and losses, amortization of premiums and discounts and interest and dividends earned are included in other income (expense) on the Consolidated Statements of Operations. The cost of investments for purposes of computing realized and unrealized gains and losses is based on the specific identification method. Investments with maturities beyond one year are classified as short-term based on our intent to fund current operations with these securities or to make them available for current operations. A decline in the market value of a security below its cost that is deemed to be other than temporary is charged to earnings and results in the establishment of a new cost basis for the security. Factors evaluated to determine if an investment is other-than-temporarily impaired include significant deterioration in earnings performance, credit rating, asset quality or business prospects of the issuer; adverse changes in the general market conditions in which the issuer operates; and our intent and ability to hold the security until an anticipated recovery in value occurs.
Property and Equipment	Property and Equipment Property and equipment are stated at cost, less accumulated depreciation. Property and equipment are depreciated using the straight-line method over the estimated useful lives of the assets. Equipment purchased for use in manufacturing and clinical trials is evaluated to determine whether the equipment is solely beneficial for a drug candidate in the development stage or whether it has an alternative use. Equipment with an alternative use is capitalized. Leasehold improvements are amortized over the economic life of the asset or the lease term, whichever is shorter. Maintenance and repairs are expensed as incurred. The estimated useful lives of our capitalized assets are as follows: Estimated Useful Life Computer hardware and software 3 to 5 years Leasehold improvements 6 years Laboratory, manufacturing and office equipment 5 to 7 years Furniture and fixtures 10 years
Long-Lived Assets	Long-Lived Assets We review long-lived assets for impairment when events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Recoverability is measured by comparison of the assets’ book value to future net undiscounted cash flows that the assets are expected to generate. If the carrying value of the assets exceed their future net undiscounted cash flows, an impairment charge is recognized for the amount by which the carrying value of the assets exceeds the fair value of the assets.
Intangible Assets, Net	Intangible Assets, Net Definite-lived intangible assets related to capitalized milestones under license agreements are amortized on a straight-line basis over their remaining useful lives, which are estimated to be the remaining patent life. If our estimate of the product’s useful life is shorter than the remaining patent life, then a shorter period is used. Amortization expense is recorded as a component of cost of sales on the Consolidated Statements of Operations. Intangible acquired in-process research and development (“IPR&D”) assets were established as part of the acquisition of Ethical Oncology Science, S.p.A. (“EOS”) in November 2013 and were not amortized. Intangible assets are evaluated for impairment at least annually in the fourth quarter or more frequently if impairment indicators exist. Events that could result in an impairment, or trigger an interim impairment assessment, include the decision to discontinue the development of a drug, the receipt of additional clinical or nonclinical data regarding our drug candidate or a potentially competitive drug candidate, changes in the clinical development program for a drug candidate, or new information regarding potential sales for the drug. In connection with any impairment assessment, the fair value of the intangible assets as of the date of assessment is compared to the carrying value of the intangible asset. Impairment losses are recognized if the carrying value of an intangible asset is both not recoverable and exceeds its fair value. During the second quarter of 2016, we recorded a $104.5 million impairment charge to the IPR&D intangible assets, reducing the remaining carrying value to zero (see Note 6, Intangible Assets and Goodwill ). Previously, the Company recorded an $89.6 million impairment charge to the IPR&D intangible assets during the fourth quarter of 2015.
Goodwill	Goodwill Goodwill represents the excess of the purchase price over the fair value of net assets acquired in a business combination accounted for under the acquisition method of accounting and is not amortized, but is subject to impairment testing at least annually in the fourth quarter or when a triggering event is identified that could indicate a potential impairment. We are organized as a single reporting unit and perform impairment testing by comparing the carrying value of the reporting unit to the fair value of the Company. Goodwill was recorded as a result of the EOS acquisition.
Other Current Assets	Other Current Assets Other current assets are comprised of the following (in thousands): December 31, 2016 2015 Receivable from partners $ $ Prepaid insurance Receivable from landlord — Prepaid expenses - other Receivable - other Other Total $ $
Other Accrued Expenses	Other Accrued Expenses Other accrued expenses are comprised of the following (in thousands): December 31, 2016 2015 Accrued personnel costs $ $ Accrued interest payable Accrued expenses - other Total $ $ `
Valuation of Contingent Consideration Resulting from a Business Combination	Valuation of Contingent Consideration Resulting from a Business Combination Subsequent to the acquisition date, we re-measure contingent consideration arrangements at fair value each reporting period and record changes in fair value to change in fair value of contingent purchase consideration and foreign currency gains (losses) for changes in the foreign currency translation rate on the Consolidated Statements of Operations. Changes in fair value are primarily attributed to new information about the IPR&D assets, including changes in timeline and likelihood of success, and the passage of time. In the absence of new information, changes in fair value reflect only the passage of time. During the fourth quarter of 2015, we recorded a $26.9 million reduction in the fair value of the contingent purchase consideration liability due to a change in the estimated probability-weighted future discounted milestone payments, as well as the timing of such payments, for the lucitanib program. Then, during the second quarter of 2016, we recorded a $25.5 million reduction in the fair value of the contingent purchase consideration liability due to our and our development partner’s decision to discontinue the development of lucitanib for breast cancer. At December 31, 2016, the contingent purchase consideration liability recorded on the Consolidated Balance Sheets remained at zero due to the uncertainty of achieving any of the lucitanib regulatory milestones, and therefore the remote likelihood of future milestone payouts.
Research and Development Expense	Research and Development Expense Research and development costs are charged to expense as incurred and include, but are not limited to, salary and benefits, share-based compensation, clinical trial activities, drug development and manufacturing, companion diagnostic development and third-party service fees, including contract research organizations and investigative sites. During 2015, we completed the hiring of our U.S. sales and marketing and medical affairs organizations in preparation for the potential commercial launch of Rubraca. These costs were also included in research and development expense before the FDA approval of Rubraca. Costs for certain development activities, such as clinical trials, are recognized based on an evaluation of the progress to completion of specific tasks using data such as patient enrollment, clinical site activations or information provided to us by our vendors on their actual costs incurred. Payments for these activities are based on the terms of the individual arrangements, which may differ from the pattern of costs incurred and are reflected on the Consolidated Balance Sheets as prepaid or accrued research and development expenses.
Acquired In-Process Research and Development Expense	Acquired In-Process Research and Development Expense We have acquired and expect to continue to acquire the rights to develop and commercialize new drug candidates. The upfront payments to acquire a new drug compound, as well as subsequent milestone payments, are immediately expensed as acquired in-process research and development provided that the drug has not achieved regulatory approval for marketing and, absent obtaining such approval, has no alternative future use. Once regulatory approval is received, payments to acquire rights, and the related milestone payments, are capitalized and the amortization of such assets recorded to product cost of sales.
Share-Based Compensation Expense	Share-Based Compensation Expense Share-based compensation is recognized as expense for all share-based awards made to employees and directors and is based on estimated fair values. We determine equity-based compensation at the grant date using the Black-Scholes option pricing model. The value of the award that is ultimately expected to vest is recognized as expense on a straight-line basis over the requisite service period. Any changes to the estimated forfeiture rates are accounted for prospectively.
Inventory	Inventory Inventories are stated at the lower of cost or estimated net realizable value, on a first-in, first-out, or FIFO, basis. Prior to the regulatory approval of Rubraca, we incurred expenses for the manufacture of drug that could potentially be available to support the commercial launch of Rubraca. Until the first reporting period when regulatory approval has been received, we record all such costs as research and development expense. We periodically analyze our inventory levels, and write down inventory that has become obsolete, inventory that has a cost basis in excess of its estimated realizable value and/or inventory in excess of expected sales requirements as cost of product revenues. Expired inventory would be disposed of and the related costs would be written off as cost of product revenues. The active pharma ceutical ingredient in Rubraca is currently produced by a single supplier.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject us to concentrations of credit risk are primarily cash, cash equivalents and available-for-sale securities. We maintain our cash and cash equivalent balances in the form of money market accounts with financial institutions that we believe are creditworthy. Available-for-sale securities are invested in accordance with our investment policy. The investment policy includes guidelines on the quality of the institutions and financial instruments and defines allowable investments that we believe minimizes the exposure to concentration of credit risk. We have no financial instruments with off-balance sheet risk of accounting loss.
Foreign Currency	Foreign Currency The assets and liabilities of our foreign operations are translated into U.S. dollars at current exchange rates and the results of operations are translated at the average exchange rates for the reported periods. The resulting translation adjustments are included in accumulated other comprehensive loss on the Consolidated Balance Sheets. Transactions denominated in currencies other than the functional currency are recorded based on exchange rates at the time such transactions arise. Transaction gains and losses are recorded to foreign currency gains (losses) on the Consolidated Statements of Operations. As of December 31, 2016 and 2015, approximately 1% and 3%, respectively, of our total liabilities were denominated in currencies other than the functional currency.
Income Taxes	Income Taxes We account for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases using enacted tax rates in effect for the year in which the differences are expected to affect taxable income. Tax benefits are recognized when it is more likely than not that a tax position will be sustained during an audit. Deferred tax assets are reduced by a valuation allowance if current evidence indicates that it is considered more likely than not that these benefits will not be realized.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-15, “Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern,” which requires management to evaluate whether there are conditions or events that raise substantial doubt about an entity’s ability to continue as a going concern and to provide disclosures when certain criteria are met. The guidance is effective for annual periods beginning in 2016 and interim reporting periods starting in the first quarter of 2017. Early application is permitted. We adopted this standard effective December 31, 2016. Adoption of the standard resulted in no material change to our disclosures.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers” and has subsequently issued several supplemental and/or clarifying ASUs (collectively, “ASC 606”). ASC 606 prescribes a single common revenue standard that replaces most existing U.S. GAAP revenue recognition guidance. ASC 606 is intended to provide a more consistent interpretation and application of the principles outlined in the standard across filers in multiple industries and within the same industries compared to current practices, which should improve comparability. Adoption of ASC 606 is required for annual and interim periods beginning after December 15, 2017. Upon adoption, we must elect to adopt either retrospectively to each prior reporting period presented or use the cumulative effect transition method with the cumulative effect of initial adoption recognized at the date of initial application. We began recognizing revenue from product sales for the first time after the FDA approval of Rubraca on December 16, 2016 and have adopted a revenue recognition policy accordingly. We have not determined what adoption transition method we will use upon the adoption of ASC 606. We are currently assessing the impact that the future adoption of ASC 606 may have on our consolidated financial statements and related disclosures by analyzing our current accounting policies and practices to identify potential differences in applying the guidance of ASC 606. In July 2015, the FASB issued ASU No. 2015-11, which amends existing guidance for measurement of inventory. Current inventory guidance requires an entity to measure inventory at the lower of cost or market. Market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. An entity should measure all inventory to which the amendments apply at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The amendments are effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017. The amendments should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which requires lessees to recognize assets and liabilities for the rights and obligations created by most leases on their balance sheet. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted. ASU 2016-02 requires modified retrospective adoption for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. We are currently evaluating the impact the standard may have on our consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU No. 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting”, to simplify financial reporting of the income tax impacts of share-based compensation arrangements. ASU No. 2016-09 is effective for us for annual and interim periods beginning after January 1, 2017. The classification guidance under ASU No. 2016-09 requires the recognition of excess tax benefits from share-based compensation arrangements as a discrete item within income tax benefit rather than additional paid-in capital and the classification guidance requiring presentation of excess tax benefits from share-based compensation arrangements as an operating activity on the statement of cash flows, rather than as an financing activity. The adoption of ASU No 2016-09 is expected to have no immediate impact on our financial statements and related disclosures because we do not currently recognize a tax benefit related to share-based compensation expense as we maintain net operating loss carryforwards and have established a valuation allowance against the entire net deferred tax asset as of December 31, 2016. Further, we have elected to continue to estimate the number of stock-based awards expected to vest, as permitted by ASU 2016-09, rather than electing to account for forfeitures as they occur.
Fair Value Measurements	Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability (at exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The three levels of inputs that may be used to measure fair value include: Level 1: Quoted prices in active markets for identical assets or liabilities. Our Level 1 assets consist of money market investments. We do not have Level 1 liabilities. Level 2: Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities in active markets or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Our Level 2 assets consist of U.S. treasury securities. We do not have Level 2 liabilities. Level 3: Unobservable inputs that are supported by little or no market activity. We do not have Level 3 assets. The contingent purchase consideration related to the undeveloped lucitanib product rights acquired with the purchase of EOS in November 2013 is a Level 3 liability. The fair value of this liability is based on unobservable inputs and includes valuations for which there is little, if any, market activity. During the second quarter of 2016, we recorded a $25.5 million reduction in the fair value of the contingent purchase consideration liability due to our and our development partner’s decision to discontinue the development of lucitanib for breast cancer, reducing the remaining fair value to zero. The fair value and carrying value remained at zero as of December 31, 2016.
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Accumulated other comprehensive loss consists of changes in foreign currency translation adjustments, which includes changes in a subsidiary’s functional currency, and unrealized gains and losses on available-for-sale securities.
Net Loss Per Common Share	Basic net loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted-average number of common share equivalents outstanding using the treasury-stock method for the stock options and the if-converted method for the Notes. As a result of our net losses for the periods presented, all potentially dilutive common share equivalents were considered anti-dilutive and were excluded from the computation of diluted net loss per share.

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Summary of Significant Accounting Policies
Estimated Useful Lives of Property and Equipment	The estimated useful lives of our capitalized assets are as follows: Estimated Useful Life Computer hardware and software 3 to 5 years Leasehold improvements 6 years Laboratory, manufacturing and office equipment 5 to 7 years Furniture and fixtures 10 years
Other Current Assets	Other current assets are comprised of the following (in thousands): December 31, 2016 2015 Receivable from partners $ $ Prepaid insurance Receivable from landlord — Prepaid expenses - other Receivable - other Other Total $ $
Other Accrued Expenses	Other accrued expenses are comprised of the following (in thousands): December 31, 2016 2015 Accrued personnel costs $ $ Accrued interest payable Accrued expenses - other Total $ $ `

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2016
Property and Equipment
Property and Equipment	Property and equipment consisted of the following (in thousands): December 31, 2016 2015 Laboratory, manufacturing and office equipment $ $ Leasehold improvements Furniture and fixtures Computer hardware and software Total property and equipment Less: accumulated depreciation Total property and equipment, net $ $

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Measurements
Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table identifies our assets and liabilities that were measured at fair value on a recurring basis (in thousands): Balance Level 1 Level 2 Level 3 December 31, 2016 Assets: Money market $ $ $ — $ — U.S. treasury securities — — Total assets at fair value $ $ $ $ — Liabilities: Contingent purchase consideration $ — $ — $ — $ — Total liabilities at fair value $ — $ — $ — $ — December 31, 2015 Assets: Money market $ $ $ — $ — U.S. treasury securities — — Total assets at fair value $ $ $ $ — Liabilities: Contingent purchase consideration $ $ — $ — $ Total liabilities at fair value $ $ — $ — $
Roll-forward of Fair Value of Level 3 Instruments (significant unobservable inputs)	The following table rolls forward the fair value of Level 3 instruments (significant unobservable inputs) (in thousands): For the Year Ended December 31, 2016 Liabilities: Balance at beginning of period $ Change in fair value Change in foreign currency gains and losses Balance at end of period $ —

Available-for-Sale Securities (

Available-for-Sale Securities (Tables)	12 Months Ended
	Dec. 31, 2016
Available-for-Sale Securities
Summary of Available-for-Sale Securities	As of December 31, 2016, available-for-sale securities consisted of the following (in thousands): Gross Gross Aggregate Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. treasury securities $ $ — $ $
Summary of Fair Value and Gross Unrealized Losses of Available-for-Sale Securities in a Continuous Unrealized Loss Position	As of December 31, 2016, the fair value and gross unrealized losses of available-for-sale securities that have been in a continuous unrealized loss position for less than 12 months were as follows (in thousands): Aggregate Gross Fair Unrealized Value Losses U.S. treasury securities $ $
Summary of Amortized Cost and Fair Value of Available-for-Sale Securities by Contractual Maturity	As of December 31, 2016, the amortized cost and fair value of available-for-sale securities by contractual maturity were (in thousands): Amortized Fair Cost Value Due in one year or less $ $ Due in one year to two years — — Total $ $

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	12 Months Ended
	Dec. 31, 2016
Intangible Assets and Goodwill
Intangible assets related to capitalized milestones under license agreements	At December 31, 2016, intangible assets related to capitalized milestones under license agreements consisted of the following (in thousands): December 31, 2016 Intangible asset - milestones $ Accumulated amortization Total intangible asset, net $
Estimated future amortization expense for intangible assets	Estimated future amortization expense for intangible assets as of December 31, 2016 is as follows (in thousands): 2017 $ 2018 2019 2020 2021 Thereafter $
Summary of IPR&D Assets and Goodwill	IPR&D assets and goodwill were established as part of the purchase accounting of EOS in November 2013, and consisted of the following (in thousands): December 31, 2016 2015 IPR&D assets: Balance at beginning of period $ $ Impairment of intangible asset (a) Change in foreign currency gains and losses Balance at end of period $ — $ Goodwill: Balance at beginning of period $ $ Change in foreign currency gains and losses Balance at end of period $ $ (a) During the second quarter of 2016, we recorded a $104.5 million impairment charge due to our and our development partner’s decision to discontinue the development of lucitanib for breast cancer. At December 31, 2016, the IPR&D intangible asset recorded on the Consolidated Balance Sheets was zero. During the fourth quarter of 2015, we recorded an $89.6 million impairment charge due to our and our development partner’s decision to terminate the development of lucitanib for lung cancer, as well as updates to the probability-weighted discounted cash flow assumptions for the breast cancer indication.

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	12 Months Ended
	Dec. 31, 2016
Convertible Senior Notes.
Schedule of Total Interest Expense Recognized Related to Notes	The following table sets forth total interest expense recognized related to the Notes during the years ended December 31, 2016 and 2015 (in thousands): Year ended December 31, 2016 2015 Contractual interest expense $ $ Accretion of interest on milestone liability — Amortization of debt issuance costs Total interest expense $ $

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2016
Stockholders? Equity
Component of Other Comprehensive Income (Loss)	The accumulated balances related to each component of other comprehensive income (loss) are summarized as follows (in thousands): Total Foreign Accumulated Currency Other Translation Unrealized Comprehensive Adjustments (Losses) Gains Loss Balance December 31, 2014 $ $ — $ Other comprehensive income (loss) Total before tax Tax effect — — — Balance December 31, 2015 Other comprehensive income (loss) Total before tax Tax effect Balance December 31, 2016 $ $ $

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2016
Share-Based Compensation
Share-Based Compensation Expense Recognized in Accompanying Statements of Operations	Share-based compensation expense for the years ended December 31, 2016, 2015 and 2014, respectively, was recognized in the accompanying Consolidated Statements of Operations as follows (in thousands): Year ended December 31, 2016 2015 2014 Research and development $ $ $ Selling, general and administrative Total share-based compensation expense $ $ $
Summary of Stock Options Activity	The following table summarizes the activity relating to our options to purchase common stock: Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Exercise Contractual Value Options Price Term (Years) (Thousands) Outstanding at December 31, 2015 $ 51.53 Granted Exercised Forfeited Outstanding at December 31, 2016 (a) $ $ Vested and expected to vest at December 31, 2016 $ $ Vested and exercisable at December 31, 2016 $ $ Includes 33,750 performance-based stock options granted to our executives in the first quarter of 2015 , which vested on approval by the FDA in December 19, 2016 to commercially distribute, sell or market Rubraca. Related stock compensation expense was recognized on that date.
Summary of activity related to our unvested RSUs	The following table summarizes the activity related to our unvested RSUs: Weighted Average Number of Grant Date Units Fair Value Unvested at December 31, 2015 — $ — Granted Vested (a) Forfeited Unvested as of December 31, 2016 $ Expected to vest after December 31, 2016 $ (a) During 2016, we accelerated vesting of RSUs for certain employees.
Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award	The following table summarizes information about our stock options as of and for the years ended December 31, 2016, 2015 and 2014: Year ended December 31, 2016 2015 2014 Weighted-average grant date fair value per share $ $ $ Intrinsic value of options exercised $ $ $ Cash received from stock option exercises $ $ $
Reserved Shares of Common Stock for Future Issuance	As of December 31, 2016, we reserved shares of common stock for future issuance as follows: Available for Grant Total Shares of Common Stock or Future Common Stock Outstanding Issuance Reserved 2009 Equity Incentive Plan — 2011 Stock Incentive Plan 2011 Employee Stock Purchase Plan — Total
Weighted-Average Assumptions	The fair value of each share-based award is estimated on the grant date using the Black-Scholes option pricing model based upon the weighted-average assumptions provided in the following table: Year ended December 31, 2016 2015 2014 Dividend yield — — — Volatility (a) % % % Risk-free interest rate (b) % % % Expected term (years) (c) (a) Volatility : The expected volatility was estimated using our historical data. (b) Risk-free interest rate: The rate is based on the yield on the grant date of a zero-coupon U.S. Treasury bond whose maturity period approximates the option’s expected term. Expected term: The expected term of the award was estimated using our historical data.
Weighted-Average Assumptions Used to Estimate Fair Value of Purchase Awards Granted	The fair value of purchase awards granted to our employees during the years ended December 31, 2016, 2015 and 2014, respectively, was estimated using the Black-Scholes option pricing model based upon the weighted-average assumptions provided in the following table: Year ended December 31, 2016 2015 2014 Dividend yield — — — Volatility (a) % % % Risk-free interest rate (b) % % % Expected term (years) (c) (a) Volatility : The expected volatility was estimated using our historical data. (b) Risk-free interest rate: The rate is based on the U.S. Treasury yield in effect at the time of grant with terms similar to the contractual term of the purchase right. Expected term: The expected life of the award represents the six-month offering period for the Purchase Plan.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies.
Future Minimum Rental Commitments	Future minimum rental commitments, by fiscal year and in the aggregate, for our operating leases are provided below (in thousands): December 31, 2016 2017 $ 2018 2019 2020 2021 Thereafter Total future minimum lease payments $

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2016
Net Loss Per Common Share
Shares Outstanding Excluded from Calculation of Diluted Net Loss Per Share	The shares outstanding at the end of the respective periods presented in the table below were excluded from the calculation of diluted net loss per share due to their anti-dilutive effect (in thousands): Year ended December 31, 2016 2015 2014 Common shares under option Convertible senior notes Total potential dilutive shares

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Taxes
Income (Loss) Before Income Taxes	The geographical components of income (loss) before income taxes consisted of the following (in thousands): Year ended December 31, 2016 2015 2014 Domestic $ $ $ Foreign Total loss before income taxes $ $ $
Current and Deferred Foreign Tax Expenses	The income tax provision consists of the following current and deferred foreign tax expenses (in thousands). No significant U.S. tax expense was recognized in the periods presented. Year ended December 31, 2016 2015 2014 Foreign: Current expense $ $ — $ Deferred (benefit) expense Total income tax (benefit) expense $ $ $
Reconciliation of Statutory Income Tax Rate to Effective Income Tax Rate	A reconciliation of the U.S. statutory income tax rate to our effective tax rate is as follows: Year ended December 31, 2016 2015 2014 Federal income tax benefit at statutory rate % % % State income tax benefit, net of federal benefit Tax credits Change in tax status of foreign subsidiary — — Limitation on future foreign tax credits — Change in uncertain tax positions — — Other Change in valuation allowance Effective income tax rate % % %
Components of Deferred Tax Assets and Liabilities	The components of our deferred tax assets and liabilities are as follows (in thousands): December 31, 2016 2015 Deferred tax assets: Net operating loss carryforward $ $ Tax credit carryforwards Intangible assets Deductible foreign taxes — Share-based compensation expense Foreign currency translation Product acquisition costs Accrued liabilities and other Total deferred tax assets Valuation allowance Deferred tax assets, net of valuation allowance Deferred tax liabilities: Intangible assets — Contingent purchase consideration — Prepaid expenses and other Total deferred tax liabilities Net deferred tax liability $ — $
Schedule of Unrecognized tax benefits	The following table summarizes the gross amounts of unrecognized tax benefits (in thousands): Year ended December 31, 2016 Balance at beginning of year $ — Additions related to prior periods tax positions Additions related to current period tax positions Settlements with tax authorities — Expiration of statute of limitations — Balance at end of year $

Quarterly Information (Unaudi36

Quarterly Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Information
Results of Operations on Quarterly Basis	The results of operations on a quarterly basis for the years ended December 31, 2016 and 2015 were as follows (in thousands): March 31, June 30, September 30, December 31, March 31, June 30, September 30, December 31, 2016 2016 (1) 2016 2016 2015 2015 2015 2015 (1) Revenues: ` Product revenue, net $ — $ — $ — $ $ — $ — $ — $ — License and milestone revenue — — — — — — — — Total revenue — — — — — — — Expenses: Cost of sales - product — — — — — — — Research and development Selling, general and administrative Acquired in-process research and development — — — — Impairment of intangible asset — — — — — — Change in fair value of contingent purchase consideration — — Total expenses Operating loss Other income (expense): Interest expense Foreign currency gains (losses) Other income (expense) Other income (expense), net Loss before income taxes Income tax (expense) benefit Net loss $ $ $ $ $ $ $ $ Basic and diluted net loss per common share $ $ $ $ $ $ $ $ Basic and diluted weighted average common shares outstanding In the second quarter of 2016, we recorded a $104.5 million impairment charge to the IPR&D intangible asset related to our lucitanib product candidate. In the fourth quarter of 2015, we recorded a $89.6 million intangible impairment charge which was also related to our lucitanib product candidate.

Nature of Business - Additional

Nature of Business - Additional Information (Details) $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended
	Jan. 31, 2017USD ($)$ / sharesshares	Jul. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2016USD ($)segment	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Number of operating segments | segment			1
Issuance of stock (in shares) | shares		4,054,487
Sale of stock, price per share | $ / shares		$ 78
Proceeds From Issuance Of Common Stock | $		$ 298,500	$ 0	$ 298,509	$ 0
Subsequent Event
Issuance of stock (in shares) | shares	5,750,000
Sale of stock, price per share | $ / shares	$ 41
Proceeds From Issuance Of Common Stock | $	$ 221,200

Summary of Significant Accoun38

Summary of Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2016
Computer Hardware and Software | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	3 years
Computer Hardware and Software | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	5 years
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	6 years
Laboratory, Manufacturing, and Office Equipment | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	5 years
Laboratory, Manufacturing, and Office Equipment | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	7 years
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	10 years

Summary of Significant Accoun39

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule Of Significant Accounting Policies [Line Items]
Impairment of intangible asset	$ 0	$ 0	$ 104,517	$ 0	$ 89,557	$ 0	$ 0	$ 0	$ 104,517	$ 89,557	$ 3,409
Product revenue, net	78	0	0	0	0	0	0	0	78	0	0
Intangible assets, net	21,047				101,500				21,047	101,500
Change in fair value of contingent purchase consideration	0	0	(25,452)	516	(26,882)	783	764	724	(24,936)	(24,611)	707
Change In Fair Value of Contingent Purchase Consideration	0	$ 0	25,452	$ (516)	26,882	$ (783)	$ (764)	$ (724)	24,936	24,611	(707)
Business Combination Contingent Consideration Liability Noncurrent	0				24,661				0	24,661
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1									$ (24,661)	$ (27,792)	(3,301)
Total liabilities denominated in currencies other than functional currency									1.00%	3.00%
In Process Research and Development
Schedule Of Significant Accounting Policies [Line Items]
Impairment of intangible asset			$ 104,500		89,600				$ 104,517	$ 89,557
Intangible assets, net	$ 0				$ 101,500				$ 0	$ 101,500	$ 212,900

Summary of Significant Accoun40

Summary of Significant Accounting Policies - Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Summary of Significant Accounting Policies
Receivable from partners	$ 2,882	$ 3,241
Prepaid insurance	1,234	1,231
Receivable from landlord	0	1,153
Prepaid expenses - other	2,109	1,023
Receivable - other	364	889
Other	90	199
Other current assets	$ 6,679	$ 7,736

Summary of Significant Accoun41

Summary of Significant Accounting Policies - Other Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Summary of Significant Accounting Policies
Accrued personnel costs	$ 15,850	$ 8,250
Accrued interest payable	2,096	2,096
Accrued expenses - other	1,541	959
Other accrued expenses	$ 19,487	$ 11,305

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 7,097	$ 6,737
Less: accumulated depreciation	(2,657)	(1,791)
Property and equipment, net	4,440	4,946
Laboratory, Manufacturing, and Office Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,555	2,556
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,276	1,861
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,411	1,487
Computer Hardware and Software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 855	$ 833

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property and Equipment
Depreciation expense on property and equipment	$ 1.1	$ 0.8	$ 0.4

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets at fair value	$ 252,358	$ 500,869
Contingent purchase consideration, fair value	0	24,661
Business Combination Contingent Consideration Liability Noncurrent	0	24,661
Liabilities at fair value	0	24,661
Money Market
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets at fair value	202,361	251,037
U.S. Treasury Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets at fair value	49,997	249,832
Fair Value, Inputs, Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets at fair value	202,361	251,037
Contingent purchase consideration, fair value	0	0
Business Combination Contingent Consideration Liability Noncurrent	0	0
Liabilities at fair value	0	0
Fair Value, Inputs, Level 1 | Money Market
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets at fair value	202,361	251,037
Fair Value, Inputs, Level 1 | U.S. Treasury Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets at fair value	0	0
Fair Value, Inputs, Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets at fair value	49,997	249,832
Contingent purchase consideration, fair value	0	0
Business Combination Contingent Consideration Liability Noncurrent	0	0
Liabilities at fair value	0	0
Fair Value, Inputs, Level 2 | Money Market
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets at fair value	0	0
Fair Value, Inputs, Level 2 | U.S. Treasury Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets at fair value	49,997	249,832
Fair Value, Inputs, Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets at fair value	0	0
Contingent purchase consideration, fair value	0	24,661
Business Combination Contingent Consideration Liability Noncurrent	0	24,661
Liabilities at fair value	0	24,661
Fair Value, Inputs, Level 3 | Money Market
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets at fair value	0	0
Fair Value, Inputs, Level 3 | U.S. Treasury Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets at fair value	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities at fair value	$ 0	$ 24,661
Transfers between level 1 and level 2, assets	0
Transfers between level 2 and level 1, assets	0
Transfers between level 1 and level 2, liabilities	0
Transfers between level 2 and level 1, liabilities	0
Transfer of assets into level 3	0
Transfer of assets out of level 3	0
Transfer of liabilities into level 3	0
Transfer of liabilities out of level 3	0
Convertible senior notes	281,126	279,885
Fair Value, Inputs, Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities at fair value	0	0
Fair Value, Inputs, Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities at fair value	0	$ 24,661
Convertible Senior Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Convertible senior notes	281,100
Debt issuance costs	9,200
Convertible Senior Notes | Fair Value, Inputs, Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Convertible senior notes, fair value	$ 297,600

Fair Value Measurements - Roll-

Fair Value Measurements - Roll-forward of Fair Value of Level 3 Instruments (significant unobservable inputs) (Details) - Fair Value, Inputs, Level 3 $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	$ 24,661
Change in fair value	(24,936)
Change in foreign currency gains and losses	275
Balance at end of period	$ 0

Available-for-Sale Securities -

Available-for-Sale Securities - Summary of Available-for-Sale Securities (Details) $ in Thousands	Dec. 31, 2016USD ($)
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 50,004
Aggregate Fair Value	49,997
U.S. Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	50,004
Gross Unrealized Gains	0
Gross Unrealized Losses	(7)
Aggregate Fair Value	$ 49,997

Available-for-Sale Securities48

Available-for-Sale Securities - Summary of Fair Value and Gross Unrealized Losses of Available-for-Sale Securities in a Continuous Unrealized Loss Position (Details) - U.S. Treasury Securities $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Schedule Of Available For Sale Securities [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Fair Value	$ 49,997
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses	$ (7)

Available-for-Sale Securities49

Available-for-Sale Securities - Summary of Amortized Cost and Fair Value of Available-for-Sale Securities by Contractual Maturity (Details) $ in Thousands	Dec. 31, 2016USD ($)
Available-for-Sale Securities
Amortized Cost, Due in one year or less	$ 50,004
Amortized Cost, Due in one year to two years	0
Amortized Cost	50,004
Fair Value, Due in one year or less	49,997
Fair Value, Due in one year to two years	0
Aggregate Fair Value	$ 49,997

Intangible Assets and Goodwil50

Intangible Assets and Goodwill - Intangible Assets Future Amortization (Details) - Licensing Agreements - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Finite Lived Intangible Assets [Line Items]
Intangible asset - milestones	$ 21,100
Accumulated amortization	(53)
Finite-Lived Intangible Assets, Net	21,047	$ 0
Estimated future amortization expense
2,017	1,486
2,018	1,486
2,019	1,486
2,020	1,486
2,021	1,486
Thereafter	13,617
Total	$ 21,047	$ 0

Intangible Assets and Goodwil51

Intangible Assets and Goodwill - Summary of IPR&D Assets and Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
IPR&D assets:
Balance at beginning of period				$ 101,500					$ 101,500
Impairment of intangible asset	$ 0	$ 0	$ (104,517)	0	$ (89,557)	$ 0	$ 0	$ 0	(104,517)	$ (89,557)	$ (3,409)
Balance at end of period	21,047				101,500				21,047	101,500
Goodwill:
Balance at beginning of period				59,327					59,327
Balance at end of period	57,192				59,327				57,192	59,327
In Process Research and Development
IPR&D assets:
Balance at beginning of period				101,500				212,900	101,500	212,900
Impairment of intangible asset			$ (104,500)		(89,600)				(104,517)	(89,557)
Change in foreign currency gains and losses									3,017	(21,843)
Balance at end of period	0				101,500				0	101,500	212,900
Ethical Oncology Science, S.p.A.
Goodwill:
Balance at beginning of period				$ 59,327				$ 66,055	59,327	66,055
Change in foreign currency gains and losses									(2,135)	(6,728)
Balance at end of period	$ 57,192				$ 59,327				$ 57,192	$ 59,327	$ 66,055

Intangible Assets and Goodwil52

Intangible Assets and Goodwill - Summary of IPR&D Assets and Goodwill (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Impairment of intangible asset	$ 0	$ 0	$ 104,517	$ 0	$ 89,557	$ 0	$ 0	$ 0	$ 104,517	$ 89,557	$ 3,409
In Process Research and Development
Impairment of intangible asset			$ 104,500		$ 89,600				$ 104,517	$ 89,557

Intangible Assets and Goodwil53

Intangible Assets and Goodwill - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Finite Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 53,000	$ 0
Ethical Oncology Science, S.p.A.
Finite Lived Intangible Assets [Line Items]
Impairment of goodwill	$ 0

Convertible Senior Notes - Addi

Convertible Senior Notes - Additional Information (Details) $ / shares in Units, $ in Thousands	Sep. 09, 2014USD ($)item$ / shares	Dec. 31, 2016USD ($)item	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Net proceeds from convertible senior notes		$ 0	$ 0	$ 278,313
Convertible Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 287,500
Convertible senior notes, interest rate	2.50%
Net proceeds from convertible senior notes	$ 278,300
Convertible senior notes, maturity date		Sep. 15, 2021
Common stock initial conversion rate per $1,000 in principal amount	16.1616
Convertible senior notes, initial conversion price per share | $ / shares	$ 61.88
Debt instrument, redemption period start date		Sep. 15, 2018
Last reported sale price of common stock	150.00%
Debt instrument, conversion in effect for number of trading days | item	20
Debt instrument conversion, consecutive trading day period	30 days
Debt instrument, trading days preceding redemption notice, maximum | item		2
Debt instrument redemption price percentage to principal amount	100.00%
Debt instrument repurchase percentage		100.00%
Debt issuance costs		$ 9,200
Debt instrument term		7 years
Unamortized debt issuance costs		$ 6,400	$ 7,600
Convertible Senior Notes | Semi Annual Payment, First payment date
Debt Instrument [Line Items]
Interest payment date on senior notes		--03-15
Convertible Senior Notes | Semi Annual Payment, Second payment date
Debt Instrument [Line Items]
Interest payment date on senior notes		--09-15

Convertible Senior Notes - Sche

Convertible Senior Notes - Schedule of Total Interest Expense Recognized Related to Notes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Convertible Senior Notes.
Contractual interest expense									$ 7,187	$ 7,167
Accretion of interest on milestone liability									62	0
Amortization of debt issuance costs									1,242	1,205	$ 368
Total interest expense	$ 2,173	$ 2,108	$ 2,106	$ 2,104	$ 2,101	$ 2,099	$ 2,097	$ 2,075	$ 8,491	$ 8,372	$ 2,604

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended	12 Months Ended
	Jan. 31, 2017USD ($)$ / sharesshares	Jul. 31, 2015USD ($)$ / sharesshares	Mar. 31, 2017Vote	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Class Of Stock [Line Items]
Common stock, shares issued | shares		4,054,487
Sale of stock, price per share | $ / shares		$ 78
Proceeds from the sale of common stock, net of issuance costs | $		$ 298,500		$ 0	$ 298,509	$ 0
Subsequent Event
Class Of Stock [Line Items]
Common stock, shares issued | shares	5,750,000
Sale of stock, price per share | $ / shares	$ 41
Proceeds from the sale of common stock, net of issuance costs | $	$ 221,200
Number Of Vote Per Common Stock | Vote			1

Stockholders' Equity - Componen

Stockholders' Equity - Component of Other Comprehensive Income (Loss) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	$ (47,460,000)	$ (24,448,000)
Other comprehensive income (loss)	(1,469,000)	(23,012,000)
Total before tax	(48,929,000)	(47,460,000)
Tax effect	1,349,000	0
Ending balance	(47,580,000)	(47,460,000)
Reclassifications out of accumulated other comprehensive loss	0	0
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(47,077,000)	(24,448,000)
Other comprehensive income (loss)	(1,693,000)	(22,629,000)
Total before tax	(48,770,000)	(47,077,000)
Tax effect	1,336,000	0
Ending balance	(47,434,000)	(47,077,000)
Unrealized Losses
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(383,000)	0
Other comprehensive income (loss)	224,000	(383,000)
Total before tax	(159,000)	(383,000)
Tax effect	13,000	0
Ending balance	$ (146,000)	$ (383,000)

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended			36 Months Ended
	Aug. 31, 2011	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense, tax benefit recognized					$ 0
Closing Stock Price		$ 44.42			$ 44.42
Stock-based compensation expense		$ 39,796	$ 40,357	$ 21,517
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		$ 86,800			$ 86,800
Unrecognized stock-based compensation expense related to non-vested options and RSUs, weighted-average remaining vesting period		3 years 1 month 6 days
2009 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock remaining for future grant		192,185			192,185
2011 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock remaining for future grant		265,723			265,723
Increase in amount of shares reserved for issuance as percentage of outstanding shares of common stock	1.00%
Increase in amount of shares reserved for issuance	344,828
Employee stock purchase plan offering period	6 months
Purchase plan participating employees compensation withheld and applied to purchase of common stock	10.00%
Share based compensation arrangement by share based payment award purchase price of common stock percent	85.00%
Purchase Plan termination date	Aug. 24, 2021
Common stock shares sold to employees		110,508	32,021
weighted-average estimated grant date fair value of purchase awards under Purchase Plan		$ 11.70	$ 26.80
Stock-based compensation expense		$ 800	$ 900	$ 200
2011 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock shares authorized		7,799,048			7,799,048
Initial Reserve Common Stock Authorized		1,250,000			1,250,000
Common stock additional shares authorized		6,356,863
Stock options vesting period		4 years
Percentage of grant vest contingent on approval		25.00%
Stock options expiration period		10 years
Minimum | Board Of Directors | 2011 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options vesting period		1 year
Maximum | Board Of Directors | 2011 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options vesting period		3 years

Share-Based Compensation - Shar

Share-Based Compensation - Share-Based Compensation Expense Recognized in Accompanying Statements of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 39,796	$ 40,357	$ 21,517
Research and development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	27,558	27,321	11,474
General and administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 12,238	$ 13,036	$ 10,043

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Stock Options Activity (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)$ / sharesshares
Share-Based Compensation
Beginning Balance, Number of Options Outstanding | shares	5,360,257
Number of Options, Granted | shares	1,955,637
Number of Options, Exercised | shares	(247,431)
Number of Options, Forfeited | shares	(1,547,981)
Ending Balance, Number of Options Outstanding | shares	5,520,482
Number of Option, Vested and expected to vest at December 31, 2016 | shares	5,176,887
Number of Option, Vested and exercisable at December 31, 2016 | shares	2,836,714
Beginning Balance, Weighted Average Exercise Price | $ / shares	$ 51.53
Granted, Weighted Average Exercise Price | $ / shares	22.57
Exercised, Weighted Average Exercise Price | $ / shares	13.21
Forfeited, Weighted Average Exercise Price | $ / shares	55.07
Ending Balance, Weighted Average Exercise Price | $ / shares	42
Vested and expected to vest, Weighted Average Exercise Price | $ / shares	42.29
Vested and exercisable, Weighted Average Exercise Price | $ / shares	$ 43.54
Outstanding, Weighted Average Remaining Contractual Term (Years)	7 years 6 months
Vested and expected to vest, Weighted Average Remaining Contractual Term (Years)	7 years 4 months 24 days
Exercisable, Weighted Average Remaining Contractual Term (Years)	6 years 1 month 6 days
Outstanding, Aggregate Intrinsic Value | $	$ 78,532
Vested and expected to vest, Aggregate Intrinsic Value | $	73,170
Vested and exercisable, Aggregate Intrinsic Value | $	$ 39,580

Share-Based Compensation - Su61

Share-Based Compensation - Summary of Stock Options Activity (Parenthetical) (Performance Shares) (Details) - shares	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Granted		1,955,637
Performance Shares | Executive Officer [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Granted	33,750

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-Based Compensation
Weighted-average grant date fair value per share	$ 16.62	$ 52.70	$ 38.47
Intrinsic value of options exercised	$ 3,118,097	$ 19,976,769	$ 2,906,304
Cash received from stock option exercises	$ 3,267,721	$ 5,478,211	$ 682,678

Share-Based Compensation - Weig

Share-Based Compensation - Weighted-Average Assumptions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-Based Compensation
Dividend yield	0.00%	0.00%	0.00%
Volatility	93.00%	72.00%	70.00%
Risk-free interest rate	1.77%	1.77%	1.92%
Expected term (years)	5 years 9 months 18 days	6 years 1 month 6 days	6 years 2 months 12 days
Stock options vested	$ 40.8	$ 36.5	$ 13

Share-Based Compensation - Su64

Share-Based Compensation - Summary of Activity Relating to Company's Unvested Restricted Stock Units (Detail) - Restricted Stock Units (RSUs)	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested at the beginning of the period | shares	0
Number of Units, Granted | shares	610,805
Number of Units, Vested | shares	(10,375)
Number of Units, Forfeited | shares	(37,972)
Unvested at the end of the period | shares	562,458
Number of Units, Expected to vest after December 31, 2016 | shares	472,242
Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 0
Weighted Average Grant Date Fair Value, Granted | $ / shares	24.29
weighted-average estimated grant date fair value of purchase awards under Purchase Plan | $ / shares	19.37
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	19.56
Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	24.70
Weighted Average Grant Date Fair Value, Expected To Vest After September 2016 | $ / shares	$ 24.50

Share-Based Compensation - We65

Share-Based Compensation - Weighted-Average Assumptions Used to Estimate Fair Value of Purchase Awards Granted (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield	0.00%	0.00%	0.00%
Volatility	93.00%	72.00%	70.00%
Risk-free interest rate	1.77%	1.77%	1.92%
Expected term (years)	5 years 9 months 18 days	6 years 1 month 6 days	6 years 2 months 12 days
Employee Stock Purchase Plans
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield	0.00%	0.00%	0.00%
Volatility	92.00%	71.00%	71.00%
Risk-free interest rate	0.40%	0.11%	0.07%
Expected term (years)	6 months	6 months	6 months

Share-Based Compensation - Rese

Share-Based Compensation - Reserved Shares of Common Stock for Future Issuance (Details)	Dec. 31, 2016shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common Stock Outstanding	6,082,940
Available for Grant or Future Issuance	2,006,352
Total Shares of Common Stock Reserved	8,089,292
2009 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common Stock Outstanding	361,018
Available for Grant or Future Issuance	0
Total Shares of Common Stock Reserved	361,018
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant	192,185
2011 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common Stock Outstanding	5,721,922
Available for Grant or Future Issuance	1,740,629
Total Shares of Common Stock Reserved	7,462,551
2011 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common Stock Outstanding	0
Available for Grant or Future Issuance	265,723
Total Shares of Common Stock Reserved	265,723
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant	265,723

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	Jun. 22, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Commitments and Contingencies.
Operating lease agreements expiration year		2,023
Operating lease term		7 years
Leasehold improvement expenditures		$ 1.1
Rental expenses		2.2	$ 2.4	$ 1.4
Purchase commitment		171.4
Purchases occurred under agreement		$ 9.7	$ 6	$ 3.3
Defendant Compliant Responding Period	30 days

Commitments and Contingencies68

Commitments and Contingencies - Future Minimum Rental Commitments (Details) $ in Thousands	Dec. 31, 2016USD ($)
Commitments and Contingencies.
2,017	$ 1,822
2,018	1,783
2,019	1,837
2,020	1,891
2,021	1,947
Thereafter	600
Total future minimum lease payments	$ 9,880

License Agreements - Additional

License Agreements - Additional Information (Details) $ in Thousands, € in Millions	Dec. 19, 2016USD ($)	Sep. 30, 2016USD ($)	Apr. 30, 2014USD ($)	Sep. 30, 2012EUR (€)	Apr. 30, 2012USD ($)	Jun. 30, 2011USD ($)	May 31, 2010USD ($)	Oct. 31, 2008	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Mar. 31, 2014EUR (€)	Mar. 31, 2014USD ($)	Mar. 31, 2012USD ($)	Dec. 31, 2016EUR (€)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2016USD ($)
Research And Development Arrangement Contract To Perform For Others [Line Items]
Acquired in process research and development costs									$ 500	$ 500	$ 300	$ 0	$ 0	$ 12,000	$ 0	$ 0					$ 1,300	$ 12,000	$ 8,806
Development cost receivable													3,241									3,241		$ 2,882
Research and development									54,454	$ 54,338	67,729	$ 74,608	75,995	76,138	$ 60,368	$ 56,750					251,129	269,251	137,705
License Agreements Lucitanib
Research And Development Arrangement Contract To Perform For Others [Line Items]
Development cost receivable													$ 3,200									3,200		1,300
Research and development																					7,700	13,700	9,500
Reduction in research and development expense for reimbursable development costs due from Servier																					9,000	$ 11,800	$ 10,000
License Agreements Licensor Celgene Avilomics Research Inc | Name of drug product in licensed by the entity Rociletinib
Research And Development Arrangement Contract To Perform For Others [Line Items]
Upfront payment							$ 2,000
Annual sales target for sales milestone payments																					500,000
License Agreements Licensor Pfizer | Rucaparib
Research And Development Arrangement Contract To Perform For Others [Line Items]
Upfront payment						$ 7,000
Milestone payments	$ 750	$ 500	$ 400						$ 500
Additional payment due to deferment of milestone payment																					20,000
Deferred milestone payment																					23,000
Maximum potential future development, regulatory and sales milestone payments																					69,750
Additional maximum payments payable on attaining the sales target																								170,000
License Agreements Licensor Pfizer | Rucaparib | Minimum
Research And Development Arrangement Contract To Perform For Others [Line Items]
Annual sales target for sales milestone payments																					500,000
License Agreements Licensor Astra Zeneca U K Ltd | Rucaparib
Research And Development Arrangement Contract To Perform For Others [Line Items]
Upfront payment					$ 250
Milestone payments	$ 350										$ 300
License Agreement Terms | License Agreements Lucitanib
Research And Development Arrangement Contract To Perform For Others [Line Items]
Upfront payment | €				€ 45
Additional maximum payments payable on attaining the sales target | €																				€ 250
Sublicense agreement consideration																		$ 13,600
Additional payments receivable on milestone achievements | €																				100
Payments received on milestone achievement | €																	€ 10
Initial global development costs reimbursable | €																				€ 80
License Agreement Terms | Advenchen Laboratories LLC | License Agreements Lucitanib
Research And Development Arrangement Contract To Perform For Others [Line Items]
Percentage of Non-Royalty Consideration Payable on Sublicense Agreements								25.00%
Acquired in process research and development costs																		3,400
Regulatory Milestone Payment | License Agreements Licensor Celgene Avilomics Research Inc | Name of drug product in licensed by the entity Rociletinib
Research And Development Arrangement Contract To Perform For Others [Line Items]
Milestone payments														$ 12,000				$ 5,000	$ 4,000
Maximum potential future development, regulatory and sales milestone payments																					$ 98,000
Additional maximum payments payable on attaining the sales target																								$ 120,000

Net Loss Per Common Share (Deta

Net Loss Per Common Share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potential dilutive shares	8,044	6,677	7,619
Stock Option [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potential dilutive shares	3,398	2,031	2,973
Convertible senior notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potential dilutive shares	4,646	4,646	4,646

Income Taxes - Income (Loss) Be

Income Taxes - Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Taxes
Domestic									$ (277,776)	$ (290,342)	$ (165,220)
Foreign									(103,395)	(91,595)	7,497
Loss before income taxes	$ (69,295)	$ (65,922)	$ (158,373)	$ (87,581)	$ (148,109)	$ (99,273)	$ (71,513)	$ (63,042)	$ (381,171)	$ (381,937)	$ (157,723)

Income Taxes - Current and Defe

Income Taxes - Current and Deferred Foreign Tax Expenses (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Taxes
Current expense									$ 64	$ 0	$ 1,547
Deferred (benefit) expense									(32,098)	(29,076)	761
Total income tax (benefit) expense	$ 1,433	$ (227)	$ (29,059)	$ (4,181)	$ (28,568)	$ (628)	$ 18	$ 102	$ (32,034)	$ (29,076)	$ 2,308

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Statutory Income Tax Rate to Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Taxes
Federal income tax benefit at statutory rate	(34.00%)	(34.00%)	(34.00%)
State income tax benefit, net of federal benefit	(3.60%)	(3.00%)	(3.50%)
Tax credits	(10.80%)	(13.60%)	(20.50%)
Change in tax status of foreign subsidiary	(0.00%)	(0.00%)	(13.50%)
Limitation on future foreign tax credits	(5.90%)	(5.00%)	(0.00%)
Change in uncertain tax positions	4.20%	0.00%	0.00%
Other	2.30%	0.40%	1.00%
Change in valuation allowance	39.40%	47.60%	72.00%
Effective income tax rate	(8.40%)	(7.60%)	1.50%

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Net operating loss carryforward	$ 275,898	$ 189,663
Tax credit carryforwards	217,948	179,865
Intangible assets	42,745	26,766
Deductible foreign taxes	0	10,836
Share-based compensation expense	31,390	23,844
Foreign currency translation	10,510	17,471
Product acquisition costs	9,764	10,470
Accrued liabilities and other	5,384	4,147
Total deferred tax assets	593,639	463,062
Valuation allowance	(592,423)	(449,080)
Deferred tax assets, net of valuation allowance	1,216	13,982
Deferred tax liabilities:
Intangible assets	0	(31,871)
Contingent purchase consideration	0	(11,142)
Prepaid expenses and other	(1,216)	(2,102)
Total deferred tax liabilities	(1,216)	(45,115)
Net deferred tax liability	$ 0	$ (31,133)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Taxes [Line Items]
Increase to valuation allowance	$ 143,300	$ 190,100
Net operating loss, stock based compensation expense	18,200
Research and development and orphan drug tax credit carryforwards	240,700
Income Tax Examination, Penalties and Interest Accrued	0
U.S. federal
Income Taxes [Line Items]
Net operating loss carryforwards	711,800
State
Income Taxes [Line Items]
Net operating loss carryforwards	1,000,000
Foreign Country
Income Taxes [Line Items]
Net operating loss carryforwards	$ 1,900
Minimum
Income Taxes [Line Items]
Net operating loss carryforwards expiration year	2,029
Tax credit carryforwards expiration year	2,029
Maximum
Income Taxes [Line Items]
Net operating loss carryforwards expiration year	2,036
Tax credit carryforwards expiration year	2,036

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 0
Additions related to prior periods tax positions	17,844
Additions related to current period tax positions	6,231
Settlements with tax authorities	0
Expiration of statute of limitations	0
Balance at end of year	$ 24,075

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, employer's contribution percentage	4.00%
Domestic Defined Contribution Plan
Defined Benefit Plan Disclosure [Line Items]
Matching contributions to employees	$ 1.6	$ 0.8	$ 0.4
Foreign Defined Contribution Plan
Defined Benefit Plan Disclosure [Line Items]
Matching contributions to employees	$ 0.2	$ 0.2	$ 0.1

Quarterly Information (Unaudi78

Quarterly Information (Unaudited) - Results of Operations on Quarterly Basis (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Product revenue, net	$ 78	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 78	$ 0	$ 0
License and milestone revenue	0	0	0	0	0	0	0	0	0	0	13,625
Total revenues	78	0	0	0	0	0	0	0	78	0	13,625
Operating expenses:
Cost of sales - product	70	0	0	0	0	0	0	0	70	0	0
Research and development	54,454	54,338	67,729	74,608	75,995	76,138	60,368	56,750	251,129	269,251	137,705
Selling, general and administrative	12,190	9,162	9,552	9,827	8,238	8,331	7,204	6,751	40,731	30,524	21,457
Acquired in-process research and development	500	500	300	0	0	12,000	0	0	1,300	12,000	8,806
Impairment of intangible asset	0	0	104,517	0	89,557	0	0	0	104,517	89,557	3,409
Change in fair value of contingent purchase consideration	0	0	(25,452)	516	(26,882)	783	764	724	(24,936)	(24,611)	707
Total expenses	67,214	64,000	156,646	84,951	146,908	97,252	68,336	64,225	372,811	376,721	172,084
Operating loss	(67,136)	(64,000)	(156,646)	(84,951)	(146,908)	(97,252)	(68,336)	(64,225)	(372,733)	(376,721)	(158,459)
Other income (expense):
Interest expense	(2,173)	(2,108)	(2,106)	(2,104)	(2,101)	(2,099)	(2,097)	(2,075)	(8,491)	(8,372)	(2,604)
Foreign currency gains (losses)	(146)	(66)	183	(551)	736	(101)	(1,142)	3,247	(580)	2,740	3,580
Other income (expense)	160	252	196	25	164	179	62	11	633	416	(240)
Other income (expense), net	(2,159)	(1,922)	(1,727)	(2,630)	(1,201)	(2,021)	(3,177)	1,183	(8,438)	(5,216)	736
Loss before income taxes	(69,295)	(65,922)	(158,373)	(87,581)	(148,109)	(99,273)	(71,513)	(63,042)	(381,171)	(381,937)	(157,723)
Income tax benefit (expense)	(1,433)	227	29,059	4,181	28,568	628	(18)	(102)	32,034	29,076	(2,308)
Net loss	$ (70,728)	$ (65,695)	$ (129,314)	$ (83,400)	$ (119,541)	$ (98,645)	$ (71,531)	$ (63,144)	$ (349,137)	$ (352,861)	$ (160,031)
Basic and diluted net loss per common share	$ (1.83)	$ (1.70)	$ (3.37)	$ (2.17)	$ (3.12)	$ (2.62)	$ (2.10)	$ (1.86)	$ (9.07)	$ (9.79)	$ (4.72)
Basic and diluted weighted average common shares outstanding	38,624	38,538	38,389	38,360	38,321	37,613	34,088	34,011	38,478	36,026	33,889

Quarterly Information (Unaudi79

Quarterly Information (Unaudited) - Results of Operations on Quarterly Basis (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Impairment of intangible asset	$ 0	$ 0	$ 104,517	$ 0	$ 89,557	$ 0	$ 0	$ 0	$ 104,517	$ 89,557	$ 3,409
In Process Research and Development
Impairment of intangible asset			$ 104,500		$ 89,600				$ 104,517	$ 89,557