Clovis Oncology (CLVSQ) 10-K 25 Feb 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 12, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2020
Entity File Number	001-35347
Entity Registrant Name	Clovis Oncology, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	90-0475355
Entity Address, Address Line One	5500 Flatiron Parkway, Suite 100
Entity Address, City or Town	Boulder
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80301
City Area Code	303
Local Phone Number	625-5000
Title of 12(b) Security	Common Stock
Trading Symbol	CLVS
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 578,173,019
Entity Common Stock, Shares Outstanding		104,529,652
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Central Index Key	0001466301
Amendment Flag	false

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Product revenue	$ 164,522	$ 143,006	$ 95,388
Product revenue - extensible list	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Operating expenses:
Research and development	$ 257,707	$ 283,146	$ 231,347
Selling, general and administrative	163,894	182,769	175,781
Acquired in-process research and development		9,440
Other operating expenses	3,804	9,711
Total expenses	466,710	519,752	429,202
Operating loss	(302,188)	(376,746)	(333,814)
Other income (expense):
Interest expense	(30,508)	(19,405)	(13,183)
Foreign currency loss	(72)	(547)	(346)
(Loss) gain on extinguishment of debt	(3,277)	18,480
Loss on convertible senior notes conversion	(35,075)
Legal settlement loss		(26,750)	(27,975)
Other income	1,361	6,342	7,917
Other income (expense), net	(67,571)	(21,880)	(33,587)
Loss before income taxes	(369,759)	(398,626)	(367,401)
Income tax benefit (expense)	547	(1,798)	(608)
Net loss	(369,212)	(400,424)	(368,009)
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax	567	(272)	(2,543)
Net unrealized (loss) gain on available-for-sale securities, net of tax	(6)	41	82
Other comprehensive income (loss):	561	(231)	(2,461)
Comprehensive loss	$ (368,651)	$ (400,655)	$ (370,470)
Loss per basic and diluted common share:
Basic and diluted net loss per common share	$ (4.38)	$ (7.43)	$ (7.07)
Basic and diluted weighted average common shares outstanding	84,307	53,873	52,066
Product
Revenues:
Product revenue	$ 164,500	$ 143,000
Operating expenses:
Cost of sales	36,128	29,926	$ 19,444
Intangible asset amortization
Operating expenses:
Cost of sales	$ 5,177	$ 4,760	$ 2,630

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 240,229	$ 161,833
Accounts receivable, net	26,511	20,562
Inventories, net	30,714	26,519
Available-for-sale securities		134,826
Prepaid research and development expenses	4,245	3,881
Other current assets	9,130	18,847
Total current assets	310,829	366,468
Inventories	104,123	98,053
Deposit on inventory		12,350
Property and equipment, net	12,085	15,287
Right-of-use assets, net	30,438	28,141
Intangible assets, net	65,743	62,920
Goodwill	63,074	63,074
Other assets	19,262	23,311
Total assets	605,554	669,604
Current liabilities:
Accounts payable	26,692	32,237
Accrued research and development expenses	43,500	53,214
Lease liabilities	5,330	5,405
Convertible senior notes	64,198
Other accrued expenses	45,208	42,228
Total current liabilities	184,928	133,084
Long-term lease liabilities - less current portion	31,640	29,479
Convertible senior notes - less current portion	434,846	644,751
Borrowings under financing agreement	110,917	34,991
Other long-term liabilities	1,971	1,556
Total liabilities	764,302	843,861
Commitments and contingencies (Note 13)
Stockholders' equity:
Preferred stock, par value $0.001 per share; 10,000,000 shares authorized, no shares issued and outstanding at December 31, 2020 and December 31, 2019
Common stock, $0.001 par value per share, 200,000,000 shares authorized at December 31, 2020 and December 31, 2019, respectively; 103,699,109 and 54,956,341 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively	104	55
Additional paid-in capital	2,498,179	2,114,068
Accumulated other comprehensive loss	(44,304)	(44,865)
Accumulated deficit	(2,612,727)	(2,243,515)
Total stockholders' deficit	(158,748)	(174,257)
Total liabilities and stockholders' equity (deficit)	$ 605,554	$ 669,604

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
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	200,000,000	200,000,000
Common stock, shares issued	103,699,109	54,956,341
Common stock, shares outstanding	103,699,109	54,956,341

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Total
Beginning Balance at Dec. 31, 2017	$ 51	$ 1,887,196	$ (42,173)	$ (1,477,439)	$ 367,635
Beginning Balance (in shares) at Dec. 31, 2017	50,565,119
Issuance of common stock, net of issuance costs	$ 2	93,888			93,890
Issuance of common stock, net of issuance costs (in shares)	1,837,898
Issuance of common stock under employee stock purchase plan		2,097			2,097
Issuance of common stock under employee stock purchase plan (in shares)	82,820
Exercise of stock options		1,870			1,870
Exercise of stock options (in shares)	72,886
Issuance of common stock from vesting of restricted stock units (in shares)	238,793
Share-based compensation expense		49,090			49,090
Net unrealized gain (loss) on available-for-sale securities			82		82
Foreign currency translation adjustments			(2,543)		(2,543)
Adoption of new revenue recognition standard				2,357	2,357
Net loss				(368,009)	(368,009)
Ending Balance at Dec. 31, 2018	$ 53	2,034,141	(44,634)	(1,843,091)	146,469
Ending Balance (in shares) at Dec. 31, 2018	52,797,516
Issuance of common stock under employee stock purchase plan		1,905			1,905
Issuance of common stock under employee stock purchase plan (in shares)	175,634
Exercise of stock options		1,361			1,361
Exercise of stock options (in shares)	188,829
Issuance of common stock from vesting of restricted stock units (in shares)	312,304
Share-based compensation expense		54,304			54,304
Legal settlement	$ 2	22,745			22,747
Legal settlement (in shares)	1,482,058
Net unrealized gain (loss) on available-for-sale securities			41		41
Foreign currency translation adjustments			(272)		(272)
Other financing costs		(388)			(388)
Net loss				(400,424)	(400,424)
Ending Balance at Dec. 31, 2019	$ 55	2,114,068	(44,865)	(2,243,515)	$ (174,257)
Ending Balance (in shares) at Dec. 31, 2019	54,956,341				54,956,341
Issuance of common stock, net of issuance costs	$ 11	83,416			$ 83,427
Issuance of common stock, net of issuance costs (in shares)	11,090,000
Issuance of common stock under employee stock purchase plan	$ 1	1,419			1,420
Issuance of common stock under employee stock purchase plan (in shares)	283,588
Exercise of stock options		(57)			$ (57)
Exercise of stock options (in shares)	34,599				117,932
Issuance of common stock from vesting of restricted stock units	$ 1	(1)
Issuance of common stock from vesting of restricted stock units (in shares)	1,012,699
Share-based compensation expense		50,794			$ 50,794
Net unrealized gain (loss) on available-for-sale securities			(6)		(6)
Foreign currency translation adjustments			567		567
Convertible senior notes conversion	$ 36	248,599			248,635
Convertible senior notes conversion (in shares)	36,321,882
Other financing costs		(59)			(59)
Net loss				(369,212)	(369,212)
Ending Balance at Dec. 31, 2020	$ 104	$ 2,498,179	$ (44,304)	$ (2,612,727)	$ (158,748)
Ending Balance (in shares) at Dec. 31, 2020	103,699,109				103,699,109

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities
Net loss	$ (369,212)	$ (400,424)	$ (368,009)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation expense	50,794	54,304	49,090
Depreciation and amortization	8,198	7,768	4,601
Amortization of premiums and discounts on available-for-sale securities	(174)	(1,521)	1,345
Amortization of debt issuance costs	2,672	2,858	2,178
Write-off of debt issuance costs related to convertible senior notes transactions	4,345
Loss (gain) on extinguishment of debt	3,277	(18,480)
Loss on convertible senior notes conversion	35,075
Legal settlement loss		22,747
Acquired in-process research and development		9,440
Other	340	804
Changes in operating assets and liabilities:
Accounts receivable	(5,407)	(7,518)	(3,371)
Inventory	5,321	(26,160)	(49,936)
Prepaid and accrued research and development expenses	(8,313)	23,233	9,145
Deposit on inventory			(12,350)
Other operating assets and liabilities	10,831	(6,837)	(8,750)
Accounts payable	(5,852)	12,289	5,770
Other accrued expenses	15,377	13,322	4,290
Net cash used in operating activities	(252,728)	(323,615)	(365,997)
Investing activities
Purchases of property and equipment	(354)	(3,290)	(9,242)
Proceeds from sale of property and equipment		275
Purchases of available-for-sale securities	(9,962)	(459,835)	(500,000)
Sales of available-for-sale securities	144,644	621,998	300,000
Acquired in-process research and development - milestone payment	(8,000)	(15,750)	(55,000)
Net cash provided by (used in) investing activities	126,328	143,398	(264,242)
Financing activities
Proceeds from sale of common stock, net of issuance costs	246,668		93,890
Proceeds from issuance of convertible senior notes, net of issuance costs	56,619	254,879	290,887
Payment of convertible senior notes	(164,443)
Extinguishment of convertible senior notes		(169,853)
Proceeds from borrowings under ATHENA financing agreement	65,119	32,871
Proceeds from the exercise of stock options and employee stock purchases	1,362	3,266	3,967
Payments on finance leases	(1,470)	(1,115)	(245)
Payments on other long-term liabilities	(211)	(160)	(35)
Net cash provided by financing activities	203,644	119,888	388,464
Effect of exchange rate changes on cash and cash equivalents	1,152	286	(547)
Increase (decrease) in cash and cash equivalents	78,396	(60,043)	(242,322)
Cash and cash equivalents at beginning of period	161,833	221,876	464,198
Cash and cash equivalents at end of period	240,229	161,833	221,876
Supplemental disclosure of cash flow information:
Cash paid for interest	12,075	10,515	9,188
Non-cash investing and financing activities:
Vesting of restricted stock units	$ 7,493	$ 5,442	$ 10,808

Nature of Business

Nature of Business	12 Months Ended
	Dec. 31, 2020
Nature of Business
Nature of Business	1. Nature of Business ​ We are a biopharmaceutical company focused on acquiring, developing and commercializing innovative anti-cancer agents in the United States, Europe and additional international markets. We target our development programs for the treatment of specific subsets of cancer populations, and simultaneously develop, with partners, for those indications that require them, diagnostic tools intended to direct a compound in development to the population that is most likely to benefit from its use. ​ Our marketed product Rubraca® (rucaparib), an oral small molecule inhibitor of poly ADP-ribose polymerase (“PARP”), is marketed in the United States for two indications specific to recurrent epithelial ovarian, fallopian tube or primary peritoneal cancer and also an indication specific to metastatic castration-resistant prostate cancer (“mCRPC”). The initial indication received approval from the FDA in December 2016 and covers the treatment of adult patients with deleterious BRCA ​ In May 2020, the FDA approved Rubraca for the treatment of adult patients with mCRPC associated with a deleterious BRCA mutation (germline and/or somatic) who have been treated previously with androgen receptor-directed therapy and a taxane-based chemotherapy. The FDA approved this third indication under accelerated approval based on objective response rate and duration of response data from the TRITON2 clinical trial. We launched Rubraca for this indication in the U.S. following receipt of the approval. As an accelerated approval, continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials. The TRITON3 clinical trial is expected to serve as the confirmatory study for Rubraca’s approval in mCRPC. In August 2020, the FDA approved the use of Foundation Medicine’s blood-based diagnostic test, FoundationOne Liquid CDx, as a companion diagnostic for the detection of deleterious BRCA mutation (germline and/or somatic) to select mCRPC patients for treatment with Rubraca. ​ In Europe, the European Commission granted a conditional marketing authorization in May 2018 for Rubraca as monotherapy treatment of adult patients with platinum-sensitive, relapsed or progressive, BRCA BRCA ​ In December 2020, Rubraca met the primary study endpoint of significantly improving PFS versus chemotherapy in the ARIEL4 confirmatory study. Additional ARIEL4 study results are expected to be submitted for presentation at a medical congress meeting in 2021. ARIEL4 is a Phase 3 multicenter, randomized study of Rubraca versus chemotherapy, which enrolled relapsed ovarian cancer patients with BRCA ​ Beyond our labeled indications, we have a clinical development program underway to further evaluate Rubraca in a variety of solid tumor types, either as monotherapy or in combination with other agents, including several studies as part of our ongoing clinical collaboration with Bristol Myers Squibb to evaluate its immunotherapy Opdivo (nivolumab) in combination with Rubraca. We anticipate initial data of Rubraca monotherapy versus placebo from our ATHENA study in the second half of 2021, with the results of Rubraca versus Opdivo in all study populations a year or more later. However, the timing of the ATHENA data readouts is dependent on the timing of data maturity driven by PFS events. ​ We initiated the Phase 2 LODESTAR study in December 2019 to evaluate Rubraca as monotherapy treatment in patients with recurrent solid tumors associated with a deleterious mutation in homologous recombination repair genes. Based on our interactions with the FDA, we believe that this study may be registration-enabling for a targeted gene- and tumor-agnostic label, if data from the trial support the potential for an accelerated approval. Assuming enrollment in this study continues as planned, and subject to the data, we may potentially file an sNDA with the FDA for this indication in the second half of 2021 or the first half of 2022. ​ We hold worldwide rights to Rubraca. ​ Pursuant to our license and collaboration agreement with 3BP, entered into in September 2019, we have initiated development of a peptide-targeted radionuclide therapy (“PTRT”) and imaging agent targeting fibroblast-activating protein (“FAP”). We have completed sufficient preclinical work to support an IND for the lead candidate under our license and collaboration agreement, designated internally as FAP-2286. Accordingly, we submitted two INDs for FAP-2286 for use as imaging and treatment agents in December 2020 to support an initial Phase 1 study to determine the dose and tolerability of FAP-2286 as a therapeutic agent with expansion cohorts planned in multiple tumor types as part of a global development program. The INDs are expected to become effective following receipt and submission, and acceptance by the FDA, of satisfactory chemistry, manufacturing and controls (“CMC”) data for the imaging agent from clinical sites. The FAP-targeting imaging agent will be utilized to identify tumors that contain FAP for treatment in the Phase 1 LuMIERE clinical study, which we anticipate initiating in the first half of 2021. ​ We hold U.S. and global rights to FAP-2286, excluding Europe (defined to include Russia, Turkey and Israel), where 3BP retains rights. We are also collaborating with 3BP on a discovery program directed to up to three additional, undisclosed targets for targeted radionuclide therapy, to which we would obtain global rights for any resulting product candidates. ​ Lucitanib, our second product candidate currently in clinical development, is an investigational, oral, potent angiogenesis inhibitor which inhibits vascular endothelial growth factor receptors 1 through 3 (“VEGFR1-3”), platelet-derived growth factor receptors alpha and beta (“PDGFR α/β”) and fibroblast growth factor receptors 1 through 3 (“FGFR1-3”). Lucitanib inhibits the same three pathways as Lenvima® (lenvatinib), which has received an FDA approval for use in endometrial cancer in combination with Keytruda® (pembrolizumab), a PD-1 inhibitor. This, together with preclinical data for lucitanib in combination with a PD-1 inhibitor that demonstrated enhanced anti-tumor activity compared to that of single agents, represent a scientific rationale for development of lucitanib in combination with a PD-1 inhibitor, and in February 2019, lucitanib was added to our clinical collaboration with Bristol Myers Squibb. The Clovis-sponsored LIO-1 study of lucitanib in combination with nivolumab in advanced solid tumors and gynecologic cancers is currently enrolling patients in the Phase 2 part of the study. We expect to present interim data from this study at medical meetings in 2021, which are expected to include interim results from the ovarian and endometrial cancer expansion cohorts. We hold the global (excluding China) development and commercialization rights for lucitanib. ​ 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 we do, we will continue to need to raise additional cash. ​ Based on current estimates, we believe that our existing cash, cash equivalents and available-for-sale securities will allow us to fund our operating plan through at least the next 12 months.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
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. ​ 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 deductions, 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 and the Europe markets. We distribute our product principally through a limited number of specialty distributor and specialty pharmacy providers, collectively, our customers. Our customers subsequently sell 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. See Note 3, Revenue Recognition ​ Cost of Sales – Product Product cost of sales consists primarily of materials, third-party manufacturing costs as well as freight and royalties owed to our licensing partners for Rubraca sales. Cost of Sales – Intangible Asset Amortization Cost of sales for intangible asset amortization consists of the amortization of capitalized milestone payments made to our licensing partners upon FDA approval of Rubraca. Milestone payments are amortized on a straight-line basis over the estimated remaining patent life of Rubraca. ​ 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 5, 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 income/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 and Comprehensive Loss. 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. ​ We determine whether a decline in the fair value below the amortized cost basis (i.e., impairment) of an available-for-sale debt is security is due to credit-related factors or noncredit-related factors. Any impairment that is not credit related is recognized in accumulated other comprehensive loss, net of applicable taxes. When evaluating an impairment, entities may not use the length of time a security has been in an unrealized loss position as a factor, either by itself or in combination with other factors, to conclude that a credit loss does not exist. ​ Accounts Receivable ​ We provide an allowance for credit losses based on experience and specifically identified risks. Accounts receivable are charged off against the allowance when we determine that recovery is unlikely and we cease collection efforts. ​ Inventory ​ Inventories are stated at the lower of cost or estimated net realizable value, on a first-in, first-out (“FIFO”) basis. Inventories include active pharmaceutical ingredient (“API”), contract manufacturing costs and overhead allocations. We begin capitalizing incurred inventory related costs upon regulatory approval. Prior to regulatory approval, incurred costs for the manufacture of drugs that could potentially be available to support the commercial launch of our products are recognized as research and development expense. ​ We regularly analyze our inventory levels for excess quantities and obsolescence (expiration), considering factors such as historical and anticipated future sales compared to quantities on hand and the remaining shelf-life of Rubraca. Rubraca finished goods have a shelf-life of four years from the date of manufacture. We expect to sell the finished goods prior to expiration. The API currently has a shelf-life of four years from the date of manufacture but can be retested at an immaterial cost with no expected reduction in potency, thereby extending its shelf-life as needed. We expect to consume substantially all of the API over a period of approximately seven years based on our long-range sales projections of Rubraca. ​ We 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. Expired inventory would be disposed of and the related costs would be written off as cost of product revenue. Inventories that are not expected to be consumed within 12 months following the balance sheet date are classified as long-term inventories. Long-term inventories primarily consist of API. API is currently produced by Lonza. As the API has undergone significant manufacturing specific to its intended purpose at the point it is purchased by us, we classify the API as work-in-process inventory. In addition, we currently manufacture Rubraca finished goods with a single third-party manufacturer. The disruption or termination of the supply of API or the disruption or termination of the manufacturing of our commercial products could have a material adverse effect on our business, financial position and results of operations. API that is written off due to damage and certain costs related to our dedicated production train at Lonza are included in Other Operating Expenses in the Consolidated Statements of Operations and Comprehensive Loss. ​ Inventory used in clinical trials is expensed as research and development expense when it has been identified for such use. ​ 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. Leased assets meeting certain finance lease criteria are capitalized and the present value of the related lease payments is recorded as a liability. Assets under finance lease arrangements are depreciated using the straight-line method over the estimated useful lives. 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 and Comprehensive Loss. ​ 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. ​ Goodwill ​ Goodwill was recorded as a result of the EOS acquisition in November 2013. 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 two reporting units based on our operating segments, U.S. and ex-U.S. We determined that our goodwill was allocated to the U.S. reporting unit and performed impairment testing by assessing qualitative factors to determine whether it is more likely than not (that is, a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount. Based on our qualitative assessment, we determined that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount. Therefore, the quantitative goodwill impairment test is not necessary. There is no goodwill impairment as of December 31, 2020. Other Current Assets ​ Other current assets are comprised of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ 2020 2019 Prepaid insurance ​ $ 782 ​ $ 505 ​ Prepaid IT ​ ​ 753 ​ ​ 698 ​ Prepaid variable considerations ​ ​ 1,191 ​ ​ 550 ​ Prepaid expenses - other ​ 2,193 ​ 2,821 ​ Value-added tax ("VAT") receivable ​ ​ 2,202 ​ ​ 11,920 ​ Receivable - other ​ 1,884 ​ 2,176 ​ Other ​ 125 ​ 177 ​ Total ​ $ 9,130 ​ $ 18,847 ​ ​ Other Accrued Expenses ​ Other accrued expenses are comprised of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ 2020 2019 Accrued personnel costs ​ $ 18,334 ​ $ 16,915 ​ Accrued interest payable for convertible senior notes ​ 2,991 ​ 5,903 ​ Income tax payable ​ ​ 907 ​ ​ 3,505 ​ Accrued corporate legal fees and professional services ​ ​ 459 ​ ​ 310 ​ Accrued royalties ​ ​ 6,617 ​ ​ 6,038 ​ Accrued variable considerations ​ ​ 11,701 ​ ​ 5,748 ​ Accrued expenses - other ​ 4,199 ​ 3,809 ​ Total ​ $ 45,208 ​ $ 42,228 ​ ​ Segment Information ​ As of December 31, 2020, we determined that we have two operating and reportable segments, U.S. and ex-U.S., based on product revenue by geographic areas since our product revenue outside of the United States represented 11% of total product revenue. We designated our reporting segments based on the internal reporting used by the Chief Operating Decision Maker (“CODM”), which is our Chief Executive Officer, for making decisions and assessing performance as the source of our reportable segments. The CODM allocates resources and assesses the performance of each operating segment based on product revenue by geographic areas. Accordingly, we view our business as two reportable operating segments to evaluate performance, allocate resources, set operational targets and forecast our future period financial results. ​ We manage our assets on a company basis, not by segments, as many of our assets are shared or commingled. Our CODM does not regularly review asset information by reportable segment. The majority of long-lived assets for both segments are located in the United States. ​ 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. ​ 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. ​ Advertising Expense In connection with the FDA approval and commercial launch of Rubraca in 2016, we began to incur advertising costs. Advertising costs are expense when services are performed, or goods are delivered. We incurred $17.0 million, $21.2 million and $15.9 million in expense for the years ended December 31, 2020, 2019 and 2018, respectively. ​ Legal Settlement Loss ​ Following our regulatory announcement in November 2015 of adverse developments in our ongoing clinical trials for rociletinib, we and certain of our current and former executives were named in various securities lawsuits. As a result of these lawsuits, during 2019, we recorded a charge of $26.8 million to settle the Antipodean Complaint. During 2018, we recorded a charge of $8.0 million related to an agreement to resolve a potential litigation claim against us and our officers and we also recorded a charge of $20.0 million related to an agreement reached with the SEC to resolve its investigation. For the remaining actions related to rociletinib, see Note 13, Commitments and Contingencies ​ 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 and Comprehensive Loss. As of December 31, 2020, and 2019, approximately 3% and 4%, 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 June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. The guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted. We adopted ASU 2016-13 as of January 1, 2020. Upon the adoption of ASU 2016-13 on January 1, 2020, we are required to determine whether a decline in the fair value below the amortized cost basis (i.e., impairment) of an available-for-sale debt is security is due to credit-related factors or noncredit-related factors. Any impairment that is not credit related is recognized in accumulated other comprehensive loss, net of applicable taxes. When evaluating an impairment, entities may not use the length of time a security has been in an unrealized loss position as a factor, either by itself or in combination with other factors, to conclude that a credit loss does not exist. We applied this impairment model for available-for-sale debt securities as of January 1, 2020 and no impairment was recognized upon adoption. In addition, no impairment was recognized for the year ended December 31, 2020. We recognized a minimal allowance for credit losses related to our accounts receivable at December 31, 2020. The adoption of ASU 2016-13 did not materially impact our consolidated financial statements and disclosures. ​ In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement”. The guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We adopted ASU 2018-13 as of January 1, 2020 and there was no material impact on our consolidated financial statements and related disclosures. ​ Recently Issued Accounting Standards ​ From time to time, the FASB or other standards setting bodies issue new accounting pronouncements. Updates to the FASB Accounting Standards Codification (“ASC”) are communicated through issuance of an ASU. In August 2020, the FASB issued guidance that simplifies an issuer’s accounting for debt and equity instruments. The guidance is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early application is permitted. We plan to adopt this guidance on January 1, 2022. We will evaluate the impact this guidance may have on our consolidated financial statements and related disclosures as the adoption date approaches .

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2020
Revenue Recognition
Revenue Recognition	3. Revenue Recognition ​ We are currently approved to sell Rubraca in the United States and Europe markets. We distribute our product principally through a limited number of specialty distributor and specialty pharmacy providers, collectively, our customers. Our customers subsequently sell our products to patients and health care providers. We do not believe the loss of one of these customers would significantly impact the ability to distribute our product as we expect that sales volume would be absorbed evenly by the remaining customers. Separately, we have arrangements with certain payors and other third parties that provide for government-mandated and privately-negotiated rebates, chargebacks and discounts. Product Revenue ​ Revenue from product sales are recognized when the performance obligation is satisfied, which is when customers obtain control of our product at a point in time, typically upon delivery. We expense incremental costs of obtaining a contract as and when incurred if the expected amortization period of the asset that we would have recognized is one year or less. ​ Reserves for Variable Consideration Revenues from product sales are recorded at the net sales price (transaction price), which includes estimates of variable consideration for which reserves are established and which result from price concessions that include rebates, chargebacks, discounts, co-pay assistance, estimated product returns and other allowances that are offered within contracts between us and our customers, health care providers, payors and other indirect customers relating to the sales of our product. These reserves are based on the amounts earned or to be claimed on the related sales and are classified as reductions of accounts receivable or a current liability. Where appropriate, these estimates take into consideration a range of possible outcomes which are probability-weighted for relevant factors such as our historical experience, current contractual and statutory requirements, specific known market events and trends, industry data and forecasted customer buying and payment patterns. Overall, these reserves reflect our best estimates of the amount of consideration to which we are entitled based on the terms of the contract. The amount of variable consideration which is included in the transaction price may be constrained and is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized will not occur in a future period. Actual amounts of consideration ultimately received may differ from our estimates. If actual results in the future vary from our estimates, we adjust these estimates, which would affect product revenue and earnings in the period such variances become known. ​ Government Rebates ​ GPO and Payor Rebates ​ Chargebacks ​ Discounts and Fees ​ Co-pay assistance Returns ​ For the year ended December 31, 2020, and 2019, we recognized $164.5 million and $143.0 million, respectively, of product revenue. Based on our policy to expense costs associated with the manufacture of our products prior to regulatory approval, certain of the costs of Rubraca units recognized as revenue during the year ended December 31, 2017 were expensed prior to the December 19, 2016 FDA approval, and a minimal amount was included in cost of sales during the year ended December 31, 2017. The majority of product sales were of pre-commercialization inventory in 2017. Cost of sales increased in 2018 in relation to product revenue as we depleted these inventories. ​ Product revenue from each of our customers who individually accounted for 10% or more of total revenues, which were all customers in the U.S. segment, consisted of the following: ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ 2020 2019 Customer A ​ 21% 25% Customer B ​ 14% 20% Customer C ​ 18% 15% Customer D ​ 11% 12% Customer E ​ 10% 10% ​

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2020
Property and Equipment
Property and Equipment	​ 4. Property and Equipment ​ Property and equipment consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 2019 Laboratory, manufacturing and office equipment ​ $ 1,267 ​ $ 1,290 ​ Leasehold improvements ​ 17,256 ​ 16,946 ​ Furniture and fixtures ​ 2,782 ​ 2,805 ​ Computer hardware and software ​ 1,835 ​ 1,699 ​ Total property and equipment ​ 23,140 ​ 22,740 ​ Less: accumulated depreciation ​ (11,055) ​ (7,453) ​ Total property and equipment, net ​ $ 12,085 ​ $ 15,287 ​ ​ Depreciation expense related to property and equipment was approximately $3.0 million, $3.0 million and $2.0 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2020
Fair Value Measurements
Fair Value Measurements	5. 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 or liabilities. ​ The following table identifies our assets that were measured at fair value on a recurring basis (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance Level 1 Level 2 Level 3 December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market ​ $ 147,921 ​ $ 147,921 ​ $ — ​ $ — ​ U.S. treasury securities ​ — ​ — ​ — ​ — ​ Total assets at fair value ​ $ 147,921 ​ $ 147,921 ​ $ — ​ $ — ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market ​ $ 61,882 ​ $ 61,882 ​ $ — ​ $ — ​ U.S. treasury securities ​ 189,736 ​ 54,910 ​ 134,826 ​ — ​ Total assets at fair value ​ $ 251,618 ​ $ 116,792 ​ $ 134,826 ​ $ — ​ ​ There were no liabilities that were measured at fair value on a recurring basis as of December 31, 2020. Financial instruments not recorded at fair value include our convertible senior notes. At December 31, 2020, the carrying amount of the 2021 Notes was $64.2 million, which represents the aggregate principal amount net of remaining debt issuance costs, and the fair value was $59.8 million. At December 31, 2020, the carrying amount of the 2024 Notes (2019 Issuance) was $83.9 million, which represents the aggregate principal amount net of remaining debt issuance costs, and the fair value was $75.4 million. At December 31, 2020, the carrying amount of the 2024 Notes (2020 Issuance) was $56.6 million, which represents the aggregate principal amount net of remaining debt issuance costs, and the fair value was $49.1 million. At December 31, 2020, the carrying amount of the 2025 Notes was $294.3 million, which represents the aggregate principal amount net of remaining debt issuance costs, and the fair value was $211.1 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 10, Debt

Available-for-Sale Securities

Available-for-Sale Securities	12 Months Ended
	Dec. 31, 2020
Available-for-Sale Securities
Available-for-Sale Securities	6. Available-for-Sale Securities ​ We did not have available-for-sale securities as of December 31, 2020. ​ As of December 31, 2019, 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 ​ $ 134,826 ​ $ — ​ $ — ​ $ 134,826 ​ ​

Inventories

Inventories	12 Months Ended
	Dec. 31, 2020
Inventories
Inventories	7. Inventories ​ The following table presents inventories as of December 31, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 2019 Work-in-process $ 102,507 $ 104,139 Finished goods, net ​ 32,330 ​ 20,433 Total inventories $ 134,837 $ 124,572 ​ At December 31, 2020, we had $30.7 million of current inventory and $104.1 million of long-term inventory.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2020
Intangible Assets
Intangible Assets	8. Intangible Assets ​ At December 31, 2020 and 2019, intangible assets related to capitalized milestones under license agreements consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ 2020 2019 Intangible asset - milestones ​ $ 79,850 ​ $ 71,850 Accumulated amortization ​ (14,107) ​ (8,930) Total intangible asset, net ​ $ 65,743 ​ $ 62,920 ​ The increase in our intangible asset – milestones since December 31, 2019 is due to an $8.0 million milestone payment to Pfizer related to the May 2020 FDA approval. See Note 14, License Agreements ​ The estimated useful lives of these intangible assets are based on the estimated remaining patent life of Rubraca and extend through 2031 in Europe and 2035 in the U.S. ​ We recorded amortization expense of $5.2 million and $4.8 million related to capitalized milestone payments during the year ended December 31, 2020 and December 31, 2019, respectively. Amortization expense is included in cost of sales – intangible asset amortization on the Consolidated Statements of Operations and Comprehensive Loss. ​ Estimated future amortization expense for intangible assets as of December 31, 2020 is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ ​ ​ ​ $ 5,371 2022 ​ ​ ​ ​ ​ 5,371 2023 ​ ​ ​ ​ ​ 5,371 2024 ​ ​ ​ ​ ​ 5,371 2025 ​ ​ ​ ​ ​ 5,371 Thereafter ​ ​ ​ ​ ​ 38,888 ​ ​ ​ ​ ​ $ 65,743 ​

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases
Leases	9. Leases ​ At the inception of an arrangement, we determine whether the arrangement is or contains a lease based on the unique facts and circumstances. Most leases with a term greater than one year are recognized on the balance sheet as right-of-use assets, lease liabilities and, if applicable, long-term lease liabilities. We elected not to recognize on the balance sheet leases with terms of one year or less. Lease liabilities and their corresponding right-of-use assets are recorded based on the present value of lease payments over the expected lease term. The interest rate implicit in lease contracts is typically not readily determinable. As such, we utilize the appropriate incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term at an amount equal to the lease payments in a similar economic environment. Certain adjustments to the right-of-use asset may be required for items such as initial direct costs paid or incentives received. ​ The components of a lease should be split into three categories: lease components (e.g. land, building, etc.), non-lease components (e.g. common area maintenance, maintenance, consumables, etc.) and non-components (e.g. property taxes, insurance, etc.). Then the fixed and in-substance fixed contract consideration (including any related to non-components) must be allocated based on fair values assigned to the lease components and non-lease components. ​ Our facilities operating leases have lease components, non-lease components and non-components, which we have separated because the non-lease components and non-components have variable lease payments and are excluded from the measurement of the lease liabilities. The lease component results in a right-of-use asset being recorded on the balance sheet and amortized as lease expense on a straight-line basis to the statements of operations. ​ We lease all of our office facilities in the U.S. and Europe. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. Most leases include one or more options to renew. The exercise of lease renewal options is at our sole discretion. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. ​ We have a finance lease for certain equipment at the dedicated production train at Lonza, our non-exclusive manufacturer of the Rubraca API. ​ The components of lease expense and related cash flows were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ Year ended December 31, ​ 2020 2019 Lease cost ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ $ 1,895 ​ $ 1,898 Interest on lease liabilities ​ 816 ​ 759 Operating lease cost ​ 4,649 ​ 4,003 Short-term lease cost ​ 401 ​ 301 Variable lease cost ​ ​ 2,071 ​ ​ 2,261 Total lease cost ​ $ 9,832 ​ $ 9,222 ​ ​ ​ ​ ​ ​ ​ Operating cash flows from finance leases ​ $ 816 ​ $ 759 Operating cash flows from operating leases ​ $ 4,649 ​ $ 4,003 Financing cash flows from finance leases ​ $ 1,470 ​ $ 1,115 ​ The weighted-average remaining lease term and weighted-average discount rate were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 December 31, 2019 ​ Weighted-average remaining lease term (years) ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 6.6 ​ ​ 6.9 ​ Finance leases ​ ​ 5.0 ​ ​ 6.0 ​ Weighted-average discount rate ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 8% ​ ​ 8% ​ Finance leases ​ ​ 8% ​ ​ 8% ​ ​ ​ Future minimum commitments due under these lease agreements as of December 31, 2020 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Finance Leases ​ Total 2021 ​ 5,796 ​ 2,287 ​ 8,083 2022 ​ 5,308 ​ 2,287 ​ 7,595 2023 ​ 4,859 ​ 2,287 ​ 7,146 2024 ​ ​ 4,868 ​ ​ 2,287 ​ ​ 7,155 2025 ​ ​ 5,025 ​ ​ 2,287 ​ ​ 7,312 Thereafter ​ 9,938 ​ — ​ 9,938 Present value adjustment ​ ​ (8,223) ​ ​ (2,036) ​ ​ (10,259) Present value of lease payments ​ $ 27,571 ​ $ 9,399 ​ $ 36,970 ​

Debt

Debt	12 Months Ended
	Dec. 31, 2020
Debt
Debt	10 . Debt ​ The following is a summary of our convertible senior notes at December 31, 2020 and 2019 (principal amount in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Principal Amount ​ Principal Amount ​ ​ ​ ​ ​ ​ December 31, 2020 ​ December 31, 2019 Interest Rate ​ Due Date 2021 Notes ​ $ 64,418 ​ $ 97,188 ​ 2.50% ​ September 15, 2021 2024 Notes (2019 Issuance) ​ 85,782 ​ 263,000 ​ 4.50% ​ August 1, 2024 2024 Notes (2020 Issuance) ​ ​ 57,500 ​ ​ — ​ 4.50% ​ August 1, 2024 2025 Notes ​ 300,000 ​ 300,000 ​ 1.25% ​ May 1, 2025 Total ​ $ 507,700 ​ $ 660,188 ​ ​ ​ ​ ​ 2021 Notes ​ In September 2014, we completed a private placement of $287.5 million aggregate principal amount of 2.5% convertible senior notes due 2021 (the “2021 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 2021 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 2021 Notes are senior unsecured obligations and bear interest at a rate of 2.5% per year, payable semi-annually in arrears on March 15 September 15 ​ Holders may convert all or any portion of the 2021 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 2021 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. 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 2021 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 2021 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 2021 Notes to be redeemed plus accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the 2021 Notes. ​ If we undergo a fundamental change, as defined in the indenture, prior to the maturity date of the 2021 Notes, holders may require us to repurchase for cash all or any portion of the 2021 Notes at a fundamental change repurchase price equal to 100% of the principal amount of the 2021 Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. ​ The 2021 Notes rank senior in right of payment to any of our indebtedness that is expressly subordinated in right of payment to the 2021 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 2021 Notes, we incurred $9.2 million of debt issuance costs, of which $2.0 million of unamortized debt issuance costs were derecognized in connection with the repurchase of the 2021 Notes. The remaining debt issuance costs are presented as a deduction from the convertible senior notes on the Consolidated Balance Sheets and are amortized as interest expense over the expected life of the 2021 Notes using the effective interest method. We determined the expected life of the debt was equal to the seven-year term of the 2021 Notes. ​ In August 2019, we entered into privately negotiated transactions with a limited number of holders to repurchase $190.3 million aggregate principal amount of our outstanding 2021 Notes for an aggregate repurchase price of $171.8 million, including accrued interest. This repurchase resulted in the recognition of $18.5 million gain on extinguishment of debt. ​ In April 2020, we entered into a privately negotiated exchange agreement with a holder (“Holder”) of our 2021 Notes, pursuant to which we issued to such Holder of the 2021 Notes approximately $36.1 million in aggregate principal amount of our currently outstanding 2024 Notes (2019 Issuance) in exchange for approximately $32.8 million in aggregate principal of 2021 Notes held by such Holder (the “Exchange Transaction”), which resulted in a $3.3 million loss on extinguishment of debt. We did not receive any cash proceeds from the Exchange Transaction. ​ 2024 Notes (2019 Issuance) ​ In August 2019, we completed a private placement to qualified institutional buyers of $263.0 million aggregate principal amount of 4.50% convertible senior notes due 2024 (the “2024 Notes (2019 Issuance)”) resulting in net proceeds of $254.9 million, after deducting underwriting discounts and commissions and 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 2024 Notes (2019 Issuance) 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 2024 Notes (2019 Issuance) are senior unsecured obligations and bear interest at a rate of 4.50% per year, payable semi-annually in arrears on February 1 August 1 ​ Holders may convert all or any portion of the 2024 Notes (2019 Issuance) 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 137.2213 shares per $1,000 in principal amount of 2024 Notes (2019 Issuance), equivalent to a conversion price of approximately $7.29 per share. The conversion rate is subject to adjustment upon the occurrence of certain events described in the indenture. 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 2024 Notes (2019 Issuance) in connection with such a corporate event or during the related redemption period in certain circumstances. ​ We will not have the right to redeem the 2024 Notes (2019 Issuance) prior to their maturity. If we undergo a fundamental change, as defined in the indenture, prior to the maturity date of the 2024 Notes (2019 Issuance), holders may require us to repurchase for cash all or any portion of the 2024 Notes (2019 Issuance) at a fundamental change repurchase price equal to 100% of the principal amount of the 2024 Notes (2019 Issuance) to be repurchased plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. No sinking fund is provided for the 2024 Notes (2019 Issuance). ​ The 2024 Notes (2019 Issuance) rank senior in right of payment to any of our indebtedness that is expressly subordinated in right of payment to the 2024 Notes (2019 Issuance); equal in right of payment to all of our liabilities that are not so subordinated, including the 2021 Notes and 2025 Notes; effectively junior in right of payment to any secured indebtedness to the extent of the value of the assets securing such indebtedness, including our borrowing under the Sixth Street financing agreement; and structurally junior to all indebtedness and other liabilities (including trade payables) of our subsidiaries. ​ In connection with the issuance of the 2024 Notes (2019 Issuance), we incurred $8.0 million of debt issuance costs. The debt issuance costs are presented as a deduction from the convertible senior notes on the Consolidated Balance Sheets and are amortized as interest expense over the expected life of the 2024 Notes (2019 Issuance) using the effective interest method. We determined the expected life of the debt was equal to the five-year term of the 2024 Notes (2019 Issuance). ​ In January 2020, we completed a registered direct offering of an aggregate 17,777,679 shares of our common stock at a price of $9.25 per share to a limited number of holders of our 2024 Notes (2019 Issuance). We used the proceeds of the share offering to repurchase from such holders an aggregate of $123.4 million principal amount of 2024 Notes (2019 Issue) in privately negotiated transactions. In addition, we paid customary fees and expenses in connection with the transactions. As a result, $3.6 million of unamortized debt issuance costs were derecognized and we recognized a $7.8 million loss on the transactions. ​ In April 2020, we completed the Exchange Transaction discussed in the 2021 Notes section above. ​ The additional 2024 Notes (2019 Issuance) issued in the Exchange Transaction were issued as additional notes under that certain Indenture, dated as of August 13, 2019 (the “Indenture”), by and between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee, and have substantially identical terms to our currently outstanding 2024 Notes (2019 Issuance), except that the additional 2024 Notes (2019 Issuance) will accrue interest from February 1, 2020 and the initial interest payment date on the additional 2024 Notes (2019 Issuance) was August 1, 2020. The Holder paid to the Company accrued interest on the additional 2024 Notes (2019 Issue) from February 1, 2020 to and including April 20, 2020. The additional 2024 Notes (2019 Issuance) will be treated as a single series of securities with the currently outstanding 2024 Notes (2019 Issuance). ​ In April and May 2020, approximately $24.3 million in principal amount of 2024 Notes (2019 Issuance) were converted into 3,331,870 shares of our common stock at the conversion rate of 137.2213 shares per $1,000 in principal amount of 2024 Notes (2019 Issuance). ​ In November 2020, we entered into a privately negotiated exchange and purchase agreement with a holder of our 2024 Notes (2019 Issuance). Pursuant to the agreement, in exchange for approximately $64.8 million aggregate principal amount of 2024 Notes (2019 Issuance) held by the holder, we agreed to issue to the holder a number shares of our common stock (the “Exchanged Shares”) utilizing an exchange ratio that is based in part on the daily volume-weighted average prices (“VWAPs”) per share of our common stock during a seven-day pricing period following execution of the agreement. ​ In addition, pursuant to the agreement, we sold to the holder $57.5 million aggregate principal amount of a new series of 4.50% Convertible Senior Notes due 2024 (the “2024 Notes (2020 Issuance)”) at a purchase price of ​ The number of Exchanged Shares was calculated utilizing an exchange ratio that is based in part on the average VWAPs of our common stock (subject to a floor) during a seven-day pricing period beginning on November 5, 2020 and ending on, and including, November 13, 2020. In November 2020, we issued ​ 2024 Notes (2020 Issuance) ​ The 2024 Notes (2020 Issuance) 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 2024 Notes (2020 Issuance) are senior unsecured obligations and bear interest at a rate of 4.50% per year, payable semi-annually in arrears on February 1 August 1 ​ Holders may convert all or any portion of the 2024 Notes (2020 Issuance) 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 160.3334 shares per $1,000 in principal amount of 2024 Notes (2020 Issuance), equivalent to a conversion price of approximately $6.24 per share. The initial conversion price represents a premium of approximately 10% to the last reported sale price of $5.67 per share on November 4, 2020. The conversion rate is subject to adjustment upon the occurrence of certain events described in the indenture. 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 2024 Notes (2020 Issuance) in connection with such a corporate event or during the related redemption period in certain circumstances. ​ We will not have the right to redeem the 2024 Notes (2020 Issuance) prior to their maturity. If we undergo a fundamental change, as defined in the indenture, prior to the maturity date of the 2024 Notes (2020 Issuance), holders may require us to repurchase for cash all or any portion of the 2024 Notes (2020 Issuance) at a fundamental change repurchase price equal to accrued and unpaid interest to, but excluding, the fundamental change repurchase date. No sinking fund is provided for the 2024 Notes (2020 Issuance). ​ The 2024 Notes (2020 Issuance) rank senior in right of payment to any of our indebtedness that is expressly subordinated in right of payment to the 2024 Notes (2020 Issuance); equal in right of payment to all of our liabilities that are not so subordinated, including the 2021 Notes, 2024 Notes (2019 Issuance) and 2025 Notes; effectively junior in right of payment to any secured indebtedness to the extent of the value of the assets securing such indebtedness, including our borrowing under the Sixth Street financing agreement; and structurally junior to all indebtedness and other liabilities (including trade payables) of our subsidiaries. ​ In connection with the issuance of the 2024 Notes (2020 Issuance), we incurred $0.9 million of debt issuance costs. The debt issuance costs are presented as a deduction from the convertible senior notes on the Consolidated Balance Sheets and are amortized as interest expense over the expected life of the 2024 Notes (2020 Issuance) using the effective interest method. We determined the expected life of the debt was equal to the four-year term of the 2024 Notes (2020 Issuance). ​ 2025 Notes In April 2018, we completed an underwritten public offering of $300.0 million aggregate principal amount of 1.25% convertible senior notes due 2025 (the “2025 Notes”) resulting in net proceeds of $290.9 million, after deducting underwriting discounts and commissions and 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 2025 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, as supplemented by the terms of that certain first supplemental indenture thereto. The 2025 Notes are senior unsecured obligations and bear interest at a rate of 1.25% per year, payable semi-annually in arrears on May 1 November 1 Holders may convert all or any portion of the 2025 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 13.1278 shares per $1,000 in principal amount of 2025 Notes, equivalent to a conversion price of approximately $76.17 per share. The conversion rate is subject to adjustment upon the occurrence of certain events described in the indenture. 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 2025 Notes in connection with such a corporate event or during the related redemption period in certain circumstances. On or after May 2, 2022, we may redeem the 2025 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 2025 Notes to be redeemed plus accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the 2025 Notes. If we undergo a fundamental change, as defined in the indenture, prior to the maturity date of the 2025 Notes, holders may require us to repurchase for cash all or any portion of the 2025 Notes at a fundamental change repurchase price equal to 100% of the principal amount of the 2025 Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. The 2025 Notes rank senior in right of payment to any of our indebtedness that is expressly subordinated in right of payment to the 2025 Notes; equal in right of payment to all of our liabilities that are not so subordinated, including the 2021 Notes; 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 2025 Notes, we incurred $9.1 million of debt issuance costs. The debt issuance costs are presented as a deduction from the convertible senior notes on the Consolidated Balance Sheets and are amortized as interest expense over the expected life of the 2025 Notes using the effective interest method. We determined the expected life of the debt was equal to the seven-year term of the 2025 Notes. ​ As of December 31, 2020, and 2019, the balance of unamortized debt issuance costs related to the convertible senior notes was $8.7 million and $15.4 million, respectively. ​ Maturities of our convertible notes consisted of the following as of December 31, 2020 (in thousands): ​ ​ ​ ​ ​ 2021 ​ $ 64,418 2022 ​ ​ — 2023 ​ ​ — 2024 ​ ​ 143,282 2025 ​ ​ 300,000 Thereafter ​ ​ — ​ ​ ​ 507,700 Less debt issuance costs ​ ​ (8,656) Current portion ​ ​ (64,198) Long-term portion ​ $ 434,846 ​ Sixth Street Financing Agreement ​ On May 1, 2019, we entered into a financing agreement (the “Financing Agreement”) with certain affiliates of Sixth Street Partners, LLC (“Sixth Street”) in which we plan to borrow from Sixth Street amounts required to reimburse our actual costs and expenses incurred during each fiscal quarter (limited to agreed budgeted amounts), as such expenses are incurred, related to the ATHENA clinical trial, in an aggregate amount of up to $175 million (the amount actually borrowed, the “Borrowed Amount”). ATHENA is our largest clinical trial, with a planned target enrollment of 1,000 patients across more than 270 sites in at least 25 countries. The Clovis-sponsored phase 3 ATHENA study in advanced ovarian cancer is the first-line maintenance treatment setting evaluating Rubraca plus nivolumab (PD-1 inhibitor), Rubraca, nivolumab and a placebo in newly-diagnosed patients who have completed platinum-based chemotherapy. This study initiated in the second quarter of 2018 and completed enrollment during the second quarter of 2020. ​ We incur borrowings under the Financing Agreement on a quarterly basis, beginning with such expenses incurred during the quarter ended March 31, 2019 and ending generally on the earliest to occur of (i) the termination of the ATHENA Trial, (ii) the date of completion of all activities under the ATHENA Trial Clinical Study Protocol, (iii) the date on which we pay the Discharge Amount (as defined in the Financing Agreement), (iv) the date of the occurrence of a change of control of us (or a sale of all or substantially all of our assets related to Rubraca) or our receipt of notice of certain breaches by us of our obligations under material in-license agreements related to Rubraca and (v) September 30, 2022. ​ We are obligated to repay on a quarterly basis, beginning on the earliest to occur of (i) the termination of the ATHENA Trial, (ii) the approval by the FDA of an update to the label portion of the Rubraca new drug application (“NDA”) to include in such label the treatment of an indication resulting from the ATHENA Trial, (iii) the date on which we determine that the results of the ATHENA Trial are insufficient to achieve such an expansion of the Rubraca label to cover an indication based on the ATHENA Trial and (iv) September 30, 2022 (the “Repayment Start Date”). ​ ● 9.75% (which rate may be increased incrementally up to approximately 10.25% in the event the Borrowed Amount exceeds $166.5 million) of the direct Rubraca net sales recorded by us and our subsidiaries worldwide and our future out-licensees in the United States, if any, during such quarter; ​ ● 19.5% of any royalty payments received by us and our subsidiaries during such quarter based on the sales of Rubraca by our future out-licensees outside the United States, if any; and ​ ● 19.5% of any other amounts received by us and our subsidiaries in connection with any other commercialization arrangement for Rubraca, including any upfront and milestone payments and proceeds of infringement claims (which payments are not subject to the caps described below). ​ Quarterly payments are capped at $8.5 million, unless the label portion of the Rubraca NDA is expanded by the FDA to include such label the treatment of an indication resulting from the ATHENA Trial, in which case the quarterly payment is capped at $13.5 million. In the event the aggregate Borrowed Amount exceeds $166.5 million, such quarterly limits will be incrementally increased to a maximum of approximately $8.94 million and $14.19 million, respectively. The maximum amount required to be repaid under the agreement is two times the aggregate Borrowed Amount, which may be $350 million in the event we borrow the full $175 million under the Financing Agreement. ​ In the event we have not made payments on or before December 30, 2025 equal to at least the Borrowed Amount, we are required to make a lump sum payment in an amount equal to such Borrowed Amount less the aggregate of all prior quarterly payments described above. All other payments are contingent on the performance of Rubraca. There is no final maturity date on the Financing Agreement. ​ Our obligations under the Financing Agreement are secured under a Pledge and Security agreement by a first priority security interest in all of our assets related to Rubraca, including intellectual property rights and a pledge of the equity of our wholly owned subsidiaries, Clovis Oncology UK Limited and Clovis Oncology Ireland Limited. In addition, the obligations are guaranteed by Clovis Oncology UK Limited and Clovis Oncology Ireland Limited, secured by a first priority security interest in all the assets of those subsidiaries. ​ Pursuant to the Financing Agreement, we have agreed to certain limitations on our operations, including limitations on making certain restricted junior payments, including payment of dividends, limitation on liens and certain limitations on the ability of our non-guarantor subsidiaries to own certain assets related to Rubraca and to incur indebtedness. ​ We may terminate the Financing Agreement at any time by paying the lenders an amount (the “Discharge Amount”) equal to the sum of (a) (A) the greater of (x) the Borrowed Amount plus (i) if such date is during calendar year 2019, $35.0 million or (ii) if such date is during calendar year 2020 or thereafter, $50.0 million and (y) (i) if such date is prior to the Repayment Start Date, 1.75 times the Borrowed Amount or (ii) if such date is after the Repayment Start Date, 2.00 times the Borrowed Amount minus (B) the aggregate amount of all quarterly payments previously paid to the lenders plus (b) all other obligations which have accrued but which have not been paid under the loan documents, including expense reimbursement. ​ In the event of (i) a change of control of us, we must pay the Discharge Amount to the lenders and (ii) an event of default under the Financing Agreement (which includes, among other events, breaches or defaults under or terminations of our material in-license agreements related to Rubraca and defaults under our other material indebtedness), the lenders have the right to declare the Discharge Amount to be immediately due and payable. ​ For the year ended December 31, 2020, we recorded $110.9 million as a long-term liability on the Consolidated Balance Sheets and future quarterly draws will be recorded as a long-term liability on the Consolidated Balance Sheets. In connection with the transaction, we incurred $1.8 million of debt issuance costs. The debt issuance costs are presented as a deduction from the Sixth Street financing liability on the Consolidated Balance Sheets and are amortized as interest expense over the expected life of the Financing Agreement using the straight-line method. As of December 31, 2020, the balance of unamortized debt issuance costs was $1.5 million. ​ For the year ended December 31, 2020, we used an effective interest rate of 14.6%. For subsequent periods, we will use the prospective method whereby a new effective interest rate is determined based on the revised estimate of remaining cash flows. The new rate is the discount rate that equates the present value of the revised estimate of remaining cash flows with the carrying amount of the debt, and it will be used to recognize interest expense for the remaining periods. Under this method, the effective interest rate is not constant, and any change in expected cash flows is recognized prospectively as an adjustment to the effective yield. ​ Expected maturities of our Financing Agreement consisted of the following as of December 31, 2020 (in thousands): ​ ​ ​ ​ ​ 2021 ​ $ — 2022 ​ ​ 8,934 2023 ​ ​ 41,091 2024 ​ ​ 45,532 2025 ​ ​ 16,820 Thereafter ​ ​ — ​ ​ ​ 112,377 Less debt issuance costs ​ ​ (1,460) Current portion ​ ​ — Long-term portion ​ $ 110,917 ​ The following table sets forth total interest expense recognized during the years ended December 31, 2020, 2019 and 2018 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 2019 2018 Interest on convertible notes ​ $ 11,934 ​ $ 13,680 ​ $ 9,812 Amortization of debt issuance costs ​ 2,672 ​ 2,858 ​ 2,178 Debt issuance cost derecognized related to convertible debt transactions ​ ​ 4,345 ​ ​ — ​ ​ — Interest on finance lease ​ ​ 816 ​ ​ 759 ​ ​ — Interest on borrowings under ATHENA financing agreement ​ ​ 10,624 ​ ​ 1,997 ​ ​ — Accretion of interest on milestone liability ​ ​ — ​ ​ — ​ ​ 977 Interest on capital lease liability ​ ​ — ​ ​ — ​ ​ 216 Other interest ​ ​ 117 ​ ​ 111 ​ ​ — Total interest expense ​ $ 30,508 ​ $ 19,405 ​ $ 13,183 ​

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2020
Stockholders' Equity
Stockholders' Equity	11 . Stockholders’ Equity ​ Common Stock ​ In April 2018, we sold 1,837,898 shares of our common stock in a public offering at $54.41 per share. The net proceeds from the offering were $93.9 million, after deducting underwriting discounts and commissions and offering expenses. ​ In May 2020, we sold 11,090,000 shares of our common stock in a public offering at $8.05 per share. The net proceeds from the offering were $82.8 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 changes in accumulated balances related to each component of other comprehensive income (loss) are summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency ​ Unrealized ​ Total Accumulated ​ ​ Translation Adjustments ​ (Losses) Gains ​ Other Comprehensive Loss Balance at December 31, 2018 ​ $ (44,460) ​ $ (174) ​ $ (44,634) Other comprehensive income (loss) ​ ​ (272) ​ 41 ​ (231) Total before tax ​ ​ (44,732) ​ ​ (133) ​ ​ (44,865) Tax effect ​ — ​ ​ — ​ — Balance at December 31, 2019 ​ ​ (44,732) ​ ​ (133) ​ ​ (44,865) Other comprehensive income (loss) ​ ​ 567 ​ ​ (6) ​ ​ 561 Total before tax ​ ​ (44,165) ​ ​ (139) ​ ​ (44,304) Tax effect ​ — ​ ​ — ​ — Balance at December 31, 2020 ​ $ (44,165) ​ $ (139) ​ $ (44,304) ​ The period change in each of the periods was primarily due to the foreign currency translation of the goodwill and deferred income taxes associated with the acquisition of EOS in November 2013. There were no reclassifications out of accumulated other comprehensive loss in the years ended December 31, 2020, 2019 and 2018. Effective October 1, 2018, substantially all assets and activities related to EOS were transferred from our Italian subsidiary to the U.S. This had the impact of changing the functional currency of goodwill from the Euro to USD. Therefore, the balance of goodwill will no longer change due to foreign currency gains and losses.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2020
Share-Based Compensation
Share-Based Compensation	12. Share-Based Compensation ​ Stock Options ​ In April 2020, our board of directors approved the 2020 Stock Incentive Plan (the “2020 Plan”), which became effective upon approval. The 2020 Plan provides for the grant of nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards and other share-based awards to our employees and directors (collectively, “awards”). Common shares authorized for issuance under the 2020 Plan were 6,470,00 three ​ 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 and directors. 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. ​ The adoption of the 2020 Plan did not affect the terms and conditions of any outstanding awards granted under the 2011 Plan. Upon the adoption of the 2020 Plan, no future grants will be granted under the 2011 Plan, but the 2011 Plan will remain in effect with respect to outstanding awards granted thereunder. ​ Share-based compensation expense for the years ended December 31, 2020, 2019 and 2018, respectively, was recognized in the accompanying Consolidated Statements of Operations and Comprehensive Loss as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 2019 2018 Research and development ​ $ 25,577 ​ $ 25,838 ​ $ 20,489 ​ Selling, general and administrative ​ 25,217 ​ 28,466 ​ 28,601 ​ Total share-based compensation expense ​ $ 50,794 ​ $ 54,304 ​ $ 49,090 ​ ​ We did not recognize a tax benefit related to share-based compensation expense during the years ended December 31, 2020, 2019 and 2018 as we maintain net operating loss carryforwards and have established a valuation allowance against the entire net deferred tax asset as of December 31, 2020. ​ 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, 2019 ​ 6,287,025 ​ $ 42.24 ​ ​ Granted ​ 980,592 ​ 7.35 ​ ​ Exercised ​ (117,932) ​ 3.23 ​ ​ Forfeited ​ (649,016) ​ 41.15 ​ ​ Outstanding at December 31, 2020 ​ 6,500,669 ​ $ 37.79 5.6 ​ $ 127 ​ Vested and expected to vest at December 31, 2020 ​ 6,371,758 ​ $ 38.24 5.5 ​ $ 118 ​ Vested and exercisable at December 31, 2020 ​ 5,026,455 ​ $ 43.87 4.7 ​ $ 31 ​ ​ The aggregate intrinsic value in the table above represents the pretax intrinsic value, based on our closing stock price of $4.80 as of December 31, 2020, 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, 2020, 2019 and 2018 (in thousands, except weighted-average grant date fair value per share): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 2019 2018 Weighted-average grant date fair value per share ​ $ 5.67 ​ $ 13.53 ​ $ 32.09 ​ Intrinsic value of options exercised ​ $ 381 ​ $ 1,525 ​ $ 1,714 ​ Cash received from stock option exercises ​ $ 236 ​ $ 1,361 ​ $ 1,869 ​ ​ As of December 31, 2020, the unrecognized share-based compensation expense related to unvested options, adjusted for expected forfeitures, was $18.1 million and the estimated weighted-average remaining vesting period was 1.5 years. ​ 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, ​ 2020 2019 2018 Dividend yield ​ — ​ — ​ — ​ Volatility (a) ​ 99 % 93 % 88 % Risk-free interest rate (b) ​ 0.49 % 1.67 % 2.92 % Expected term (years) (c) ​ 6.0 ​ 5.9 ​ 5.9 ​ ​ (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, 2020, 2019 and 2018 was $22.4 million, $32.8 million and $43.3 million, respectively. ​ Restricted Stock ​ Beginning in 2016, we issued restricted stock units (“RSUs”) to certain employees under the 2011 Plan and 2020 Plan. The RSUs vest either (i) over two years, with 50% vesting one year from the date of grant and the remaining 50% vesting two years from the date of grant or (ii) over four years, with 25% vesting one year from the date of grant and the remaining 75% vesting ratably each subsequent quarter over the following three years, as defined in the grant agreement. 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. The minimum statutory tax on the value of common stock shares issued to employees upon vesting are paid by us through the sale of registered shares of our common stock. ​ The following table summarizes the activity related to our unvested RSUs: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant Date ​ ​ Units ​ Fair Value Unvested at December 31, 2019 ​ 2,171,347 ​ $ 28.37 ​ Granted ​ 2,441,804 ​ 8.21 ​ Vested ​ (1,012,699) ​ 28.85 ​ Forfeited ​ (636,905) ​ 15.51 ​ Unvested at December 31, 2020 ​ 2,963,547 ​ $ 14.36 ​ Expected to vest after December 31, 2020 ​ 2,862,148 ​ $ 14.09 ​ ​ As of December 31, 2020, the unrecognized share-based compensation expense related to RSUs, adjusted for expected forfeitures, was $33.6 million and the estimated weighted-average remaining vesting period was 2.2 years. ​ Common Stock Reserved for Issuance ​ As of December 31, 2020, 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 ​ 64,522 — 64,522 ​ 2011 Stock Incentive Plan ​ 8,878,976 — 8,878,976 ​ 2020 Stock Incentive Plan ​ 520,718 5,949,282 6,470,000 ​ 2011 Employee Stock Purchase Plan ​ — 361,656 361,656 ​ Total ​ 9,464,216 6,310,938 15,775,154 ​ ​ 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 283,588 and 175,634 shares to employees in 2020 and 2019, respectively. There were 361,656 shares available for sale under the Purchase Plan as of December 31, 2020. The weighted-average estimated grant date fair value of purchase awards under the Purchase Plan during the years ended December 31, 2020 and 2019 was $4.63 and $6.60 per share, respectively. The total share-based compensation expense recorded as a result of the Purchase Plan was approximately $1.1 million, $1.0 million and $0.9 million during the years ended December 31, 2020, 2019 and 2018, respectively. ​ The fair value of purchase awards granted to our employees during the years ended December 31, 2020, 2019 and 2018 was estimated using the Black-Scholes option pricing model based upon the weighted-average assumptions provided in the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 2019 2018 Dividend yield ​ — — — ​ Volatility (a) ​ 138 % 79 % 51 % Risk-free interest rate (b) ​ 0.90 % 2.20 % 1.90 % Expected term (years) (c) ​ 0.5 0.5 0.5 ​ (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 .

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies
Commitments and Contingencies	13 . Commitments and Contingencies ​ 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 Rubraca. Under the terms of the Agreement, we will provide the third-party supplier a rolling forecast for the supply of the active ingredient in Rubraca that will be updated by us on a quarterly basis. We are obligated to order material sufficient to satisfy an initial quantity specified in a forecast. In addition, the third-party supplier has constructed, in its existing facility, a production train that will be exclusively dedicated to the manufacture of the Rubraca active ingredient. We made scheduled capital program fee payments toward capital equipment and other costs associated with the construction of the dedicated production train. Beginning in the fourth quarter of 2018, once the facility was operational, we were 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, 2020, $68.1 million of purchase commitments remain under the Agreement. ​ At the time we entered into the Agreement, we evaluated the Agreement as a whole and bifurcated into lease and non-lease components, which consisted of an operating lease of warehouse space, capital lease of equipment, purchase of leasehold improvements and manufacturing costs based upon the relative fair values of each of the deliverables. During October 2018, the production train was placed into service and we recorded the various components of the 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. ​ Rociletinib-Related Litigation ​ Following Clovis’ regulatory announcement in November 2015 of adverse developments in its ongoing clinical trials for rociletinib, Clovis and certain of its current and former executives were named in various securities lawsuits, the largest of which was a putative class action lawsuit in the District of Colorado (the “Medina Action”) which was settled on October 26, 2017 (the “Medina Settlement”). The remaining actions are discussed below. In March 2017, two putative shareholders of the Company, Macalinao and McKenry (the “Derivative Plaintiffs”), filed shareholder derivative complaints against certain directors and officers of the Company in the Court of Chancery of the State of Delaware. On May 4, 2017, the Macalinao and McKenry actions were consolidated for all purposes in a single proceeding under the caption In re Clovis Oncology, Inc. Derivative Litigation, Case No, 2017-0222 (the “Consolidated Derivative Action”). On May 18, 2017, the Derivative Plaintiffs filed a Consolidated Verified Shareholder Derivative Complaint (the “Consolidated Derivative Complaint”). The Consolidated Derivative Complaint generally alleged that the defendants breached their fiduciary duties owed to the Company by allegedly causing or allowing misrepresentations of the Company’s business operations and prospects, failing to ensure that the TIGER-X clinical trial was being conducted in accordance with applicable rules, regulations and protocols, and engaging in insider trading. The Consolidated Derivative Complaint sought, among other things, an award of money damages. On July 31, 2017, the defendants filed a motion to dismiss the Consolidated Derivative Complaint. Plaintiffs filed an opposition to the motion to dismiss on August 31, 2017, and the defendants filed a reply in further support of the motion to dismiss on September 26, 2017. ​ While the motion to dismiss remained pending, on November 19, 2018, Plaintiffs filed a motion for leave to file a supplemental consolidated complaint, and on November 20, 2018, the Court granted that motion. On November 27, 2018, Plaintiffs filed their supplemental complaint (the “Supplemental Derivative Complaint”), which adds allegations concerning the Company’s, Mr. Mahaffy’s and Mr. Mast’s settlements with the United States Securities and Exchange Commission. Pursuant to a briefing schedule entered by the Court, the defendants filed a supplemental motion to dismiss the Supplemental Derivative Complaint on February 6, 2019; plaintiffs filed an opposition brief on February 22, 2019; and the defendants filed a reply brief on March 5, 2019. The Court held oral arguments on the defendants’ motions to dismiss on June 19, 2019. At the oral arguments, the Court ordered the parties to submit supplemental letter briefs on the motion to dismiss. On October 1, 2019, Vice Chancellor Joseph R. Slights III of the Delaware Chancery Court, issued a Memorandum Opinion granting in part and denying in part defendants’ motions to dismiss. The Supplemental Derivative Complaint was dismissed as to Plaintiffs’ derivative claims for unjust enrichment and insider trading. The Court allowed Plaintiffs’ remaining derivative claim for breach of fiduciary duty to proceed. Defendants filed an answer to the Supplemental Derivative Complaint on December 27, 2019. ​ On December 17, 2019, the parties participated in a mediation, which did not result in a settlement. On December 22, 2019, the Company’s board of directors formed a Special Litigation Committee (the “SLC”) to conduct an investigation of the claims asserted in the Supplemental Derivative Complaint. On February 18, 2020, the SLC moved to stay all proceedings in the Consolidated Derivative Action pending completion of its investigation. Plaintiffs filed their opposition to the motion to stay on March 3, 2020 and the SLC filed its reply on March 13, 2020. On May 12, 2020, after hearing oral argument, Vice Chancellor Slights granted the SLC’s motion to stay proceedings until September 18, 2020 so that the SLC may complete its investigation. On September 11, 2020, Vice Chancellor Slights granted the parties’ request to extend the stay until October 31, 2020, to allow the SLC further time to complete its investigation. On October 26, 2020, Vice Chancellor Slights granted the parties’ request to further extend the stay until November 15, 2020. On November 13, 2020, vice Chancellor Slights granted the parties’ request to further extend the stay until December 15, 2020. ​ On December 16, 2020, the SLC filed a report (the “SLC Report”) containing the findings of its investigation. The SLC Report concludes that the claims asserted in the Consolidated Derivative Action lack merit. Specifically, the SLC Report finds that the defendants did not breach their fiduciary duties in connection with the Company’s TIGER-X clinical trial. Accordingly, on the same date that the SLC Report was filed, the SLC filed a motion to terminate the Consolidated Derivative Action in Delaware Chancery Court. A briefing schedule on the motion to terminate has not yet been set. ​ While the motion to terminate remains pending before Vice Chancellor Slights, the Company does not believe this litigation will have a material impact on its financial position or results of operations. ​ European Patent Opposition ​ Two European patents in the rucaparib camsylate salt/polymorph patent family (European Patent 2534153 and its divisional European Patent 3150610) were opposed. In particular, opposition notices against European Patent 2534153 were filed by two parties on June 20, 2017. During an oral hearing that took place on December 4, 2018, the European Patent Office’s Opposition Division maintained European Patent 2534153 in amended and narrowed form with claims to certain crystalline forms of rucaparib camsylate, including, but not limited to, rucaparib S-camsylate Form A, the crystalline form in Rubraca. Clovis and

License Agreements

License Agreements	12 Months Ended
	Dec. 31, 2020
License Agreements
License Agreements	14. License Agreements ​ Rubraca ​ In June 2011, we entered into a license agreement with Pfizer to obtain the exclusive global rights to develop and commercialize Rubraca. 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 and are required to make additional payments to Pfizer for the achievement of certain development and regulatory and sales milestones and royalties on sales as required by the license agreement. Prior to the FDA approval of Rubraca, we made milestone payments of $1.4 million, which 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 st ​ On December 19, 2016, Rubraca received its initial FDA approval. This approval resulted in a $0.75 million milestone payment to Pfizer as required by the license agreement, which was paid in the first quarter of 2017. This FDA approval also resulted in an obligation to pay a $20.0 million milestone payment, for which we exercised the option to defer payment by agreeing to pay $23.0 million within 18 months after the date of the FDA approval. We paid the $23.0 million milestone payment in June 2018. ​ In April 2018, Rubraca received a second FDA approval. This approval resulted in an obligation to pay a $15.0 million milestone payment, which we paid in April 2018. In May 2018, Rubraca received its initial European Commission marketing authorization. This approval resulted in an obligation to pay a $20.0 million milestone payment, which we paid in June 2018. ​ In January 2019, Rubraca received a second European Commission approval. This approval resulted in an obligation to pay a $15.0 million milestone payment, which we paid in February 2019. ​ In June 2019, we paid a $0.75 million milestone payment due to the launch of Rubraca as maintenance therapy in Germany in March 2019. ​ In May 2020, Rubraca received a third FDA approval for Rubraca as a monotherapy treatment of adult patients with BRCA1/2 ​ These milestone payments were recognized as intangible assets and are amortized over the estimated remaining useful life of Rubraca. ​ We are obligated under the license agreement to use commercially reasonable efforts to develop and commercialize Rubraca and we are responsible for all ongoing development and commercialization costs for Rubraca. We are required to make regulatory milestone payments to Pfizer of up to an additional $8.0 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 Rubraca are met, which relate to annual sales targets of $250.0 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 net sales, with standard provisions for royalty offsets to the extent we need to obtain any rights from third parties to commercialize Rubraca. ​ 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 Rubraca and an obligation to assign or license to Pfizer any intellectual property rights or other rights we may have in Rubraca, including our regulatory filings, regulatory approvals, patents and trademarks for Rubraca. ​ In April 2012, we entered into a license agreement with AstraZeneca to acquire exclusive rights associated with Rubraca 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 Rubraca for the uses claimed by these patents. AstraZeneca also receives royalties on net sales of Rubraca. ​ Lucitanib ​ On November 19, 2013, we acquired all of the issued and outstanding capital stock of EOS pursuant to the terms set forth in that certain Stock Purchase Agreement, dated as of November 19, 2013 (the “Stock Purchase Agreement”), by and among the Company, EOS, its shareholders (the “Sellers”) and Sofinnova Capital V FCPR, acting in its capacity as the Sellers’ representative. Following the acquisition, EOS became a wholly-owned subsidiary of the Company. Under the terms of the Stock Purchase Agreement, in addition to the initial purchase price paid at the time of the closing of the acquisition and other license fees due to Advenchen described below, we will also be obligated to pay to the Sellers a milestone payment of $65.0 million upon obtaining the first NDA approval from the FDA with respect to lucitanib. ​ In October 2008, Ethical Oncology Science, S.p.A. (“EOS”) (now known as Clovis Oncology Italy S.r.l.) entered into an exclusive license agreement with Advenchen Laboratories LLC (“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, after giving effect to the first and second amendments to the license agreement, we are required to pay to Advenchen 25% of any consideration, excluding royalties, we receive from sublicensees, in lieu of the milestone obligations set forth in the agreement. We are obligated under the agreement to use commercially reasonable efforts to develop and commercialize at least one product containing lucitanib, and we are also responsible for all remaining development and commercialization costs for lucitanib. ​ The license agreement with Advenchen will remain in effect until the expiration of all of our royalty obligations to Advenchen, determined on a product-by-product and country-by-country basis, unless we elect to terminate the agreement earlier. If we fail to meet our obligations under the agreement and are unable to cure such failure within specified time periods, Advenchen can terminate the agreement, resulting in a loss of our rights to lucitanib. ​ FAP-2286 and the Radionuclide Therapy Development Program ​ In September 2019, we entered into a global license and collaboration agreement with 3BP to develop and commercialize a PTRT and imaging agent targeting FAP. The lead candidate, designated internally as FAP-2286, is being developed pursuant to a global development plan agreed to by the parties. We are responsible for the costs of all preclinical and clinical development activities described in the plan, including the costs for a limited number of 3BP full-time equivalents and external costs incurred during the preclinical development phase of the collaboration. Upon the signing of the license and collaboration agreement in September 2019, we made a $9.4 million upfront payment to 3BP, which we recognized as acquired in-process research and development expense. ​ Pursuant to the terms of the FAP agreement, we are required to make additional payments to 3BP for annual technology access fees and upon the achievement of certain development and regulatory milestone events (or on certain dates, whichever occur earlier). We are also obligated to pay 3BP single- to low-double-digit royalties on net sales of the FAP-targeted therapeutic product and imaging agent, based on the volume of annual net sales achieved. In addition, 3BP is entitled to receive 34% of any consideration, excluding royalties on the therapeutic product, pursuant to any sublicenses we may grant. ​ We are obligated under the license and collaboration agreement to use diligent efforts to develop FAP-2286 and commercialize a FAP-targeted therapeutic product and imaging agent, and we are responsible for all commercialization costs in our territory. The agreement with 3BP will remain in effect until the expiration of our royalty obligations to 3BP, determined on a product-by-product and country-by-country basis, unless we elect to terminate the agreement earlier. If we fail to meet our obligations under the agreement and are unable to cure such failure within specified time periods, 3BP can terminate the agreement, resulting in a loss of our rights. 3BP also has the right to terminate the agreement under certain circumstances in connection with our change of control in which the acquiring party retains a product competitive with the FAP-targeted therapeutic product or, in the event marketing authorization has not yet been obtained, does not agree to the then-current global development plan. ​ In February 2020, we finalized the terms of a drug discovery collaboration agreement with 3BP to identify up to three additional, undisclosed targets for peptide-targeted radionuclide therapy, to which we will obtain global rights for any resulting product candidates. We are responsible for the costs of all preclinical and clinical development activities conducted under the discovery program, including the costs for a limited number of 3BP full-time equivalents and external costs incurred during the discovery and preclinical development phase for each collaboration target. The discovery collaboration agreement was effective December 31, 2019, for which we incurred a $2.1 million technology access fee, which we accrued and recognized as a research and development expense. ​ Pursuant to the terms of the discovery collaboration agreement, we are required to make additional payments to 3BP for annual technology access fees and upon the achievement of certain development and regulatory milestone events (or on certain dates, whichever occur earlier). We are also obligated to pay 3BP a 6% royalty on net sales of License Products (as defined in the agreement), based on the volume of quarterly net sales achieved. ​ We are obligated under the discovery collaboration agreement to use diligent efforts to develop and commercialize the product candidates, if any, that result from the discovery program, and we are responsible for all clinical development and commercialization costs. The agreement with 3BP will remain in effect until the expiration of our royalty obligations to 3BP, determined on a product-by-product and country-by-country basis, unless we elect to terminate the agreement earlier. If we fail to meet our obligations under the agreement and are unable to cure such failure within specified time periods, 3BP can terminate the agreement, resulting in a loss of our rights. ​

Net Loss Per Common Share

Net Loss Per Common Share	12 Months Ended
	Dec. 31, 2020
Net Loss Per Common Share
Net Loss Per Common Share	15. 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 RSUs and the if-converted method for the convertible senior 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, ​ 2020 2019 2018 Common shares under stock incentive plans ​ 3,095 ​ 2,480 ​ 1,319 ​ Convertible senior notes ​ 25,969 ​ 41,598 ​ 8,584 ​ Total potential dilutive shares ​ 29,064 ​ 44,078 ​ 9,903 ​ ​

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Taxes
Income Taxes	16. Income Taxes ​ We are subject to U.S. federal, state and foreign income tax. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 2019 2018 Domestic ​ $ (370,839) ​ $ (399,497) ​ $ (368,402) ​ Foreign ​ 1,080 871 ​ 1,001 Total loss before income taxes ​ $ (369,759) ​ $ (398,626) ​ $ (367,401) ​ ​ The income tax provision consists of the following current and deferred tax expense (benefit) amounts (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ ​ 2020 2019 2018 ​ Current tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Federal & State ​ $ 50 ​ $ 3 ​ $ 15 ​ Foreign ​ (597) 1,795 ​ 593 ​ Total current expense (benefit) ​ ​ (547) ​ ​ 1,798 ​ ​ 608 ​ Deferred tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Federal & State ​ ​ — ​ ​ — ​ ​ — ​ Foreign ​ — — ​ — ​ Total deferred (benefit) ​ ​ — ​ ​ — ​ ​ — ​ Total income tax expense (benefit) ​ $ (547) ​ $ 1,798 ​ $ 608 ​ ​ A reconciliation of the U.S. federal statutory income tax rate to our effective tax rate is provided below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 2019 2018 Federal income tax benefit at statutory rate ​ (21.0) % (21.0) % (21.0) % State income tax benefit, net of federal benefit ​ (1.6) (2.9) (3.1) ​ Tax credits ​ (1.5) (1.1) (1.3) ​ Change in uncertain tax positions ​ 0.1 ​ (4.3) ​ 0.1 ​ SEC settlement costs ​ — ​ — ​ 1.1 ​ Convertible debt transactions ​ 2.2 ​ — ​ — ​ Prior year true ups ​ 0.9 ​ 0.1 ​ (0.8) ​ Share based compensation ​ 2.6 ​ 2.3 ​ 0.8 ​ Tax rate changes ​ 1.4 ​ 0.1 ​ 0.3 ​ Change in valuation allowance ​ 16.1 ​ 26.5 ​ 23.2 ​ Other ​ 0.6 ​ 0.8 ​ 0.9 ​ Effective income tax rate ​ (0.2) % 0.5 % 0.2 % ​ The significant components of our deferred tax assets and liabilities are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 2019 Deferred tax assets: ​ ​ ​ ​ Net operating loss carryforward ​ $ 414,932 ​ $ 396,100 Tax credit carryforwards ​ 247,064 ​ 243,901 Interest expense limitation carryforward ​ ​ 5,371 ​ ​ 4,449 ​ Intangible assets ​ 94,558 ​ 61,459 Share-based compensation expense ​ 33,169 ​ 34,006 Product acquisition costs ​ 4,992 ​ 6,288 Lease liabilities ​ ​ 6,122 ​ ​ 5,317 ​ Accrued liabilities and other ​ 7,488 ​ 5,817 Total deferred tax assets ​ 813,696 ​ 757,337 Valuation allowance ​ (806,622) ​ (750,508) Deferred tax assets, net of valuation allowance ​ 7,074 ​ 6,829 Deferred tax liabilities: ​ ​ ​ ​ ​ ​ Right-of-use assets ​ ​ (6,799) ​ ​ (6,337) ​ Prepaid expenses and fixed assets ​ (275) ​ (492) Total deferred tax liabilities ​ (7,074) ​ (6,829) Net deferred tax liability ​ $ — ​ $ — ​ The Tax Cuts and Jobs Act (the “Act”), enacted in the U.S. on December 22, 2017, subjects a U.S. shareholder to tax on the Global Intangible Low-Taxed Income (“GILTI”) earned by certain foreign subsidiaries. The FASB Staff Q&A, Topic 740, No. 5, “Accounting for Global Intangible Low-Taxed Income”, states that an entity can make an accounting policy election to either recognize deferred taxes for temporary basis differences expected to reverse as GILTI in future years or to provide for the tax expense related to GILTI in the year the tax is incurred as a period expense only. We have elected to account for GILTI in the year the tax is incurred. ​ 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 a net increase to the valuation allowance of $56.1 million and $102.6 million for the years ended December 31, 2020 and 2019, respectively, primarily due to the growth in net operating losses and amortizable research and development expenses incurred during the year. ​ 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, 2020 of $8.0 million, if recognized, would not impact the Company’s effective tax rate as long as we remain subject to a full valuation allowance. The following table summarizes the gross amounts of unrecognized tax benefits (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ ​ ​ 2020 2019 ​ Balance at beginning of year ​ $ 7,525 ​ $ 24,775 ​ Changes related to prior period tax positions ​ ​ 64 ​ ​ (35) ​ Additions related to current period tax positions ​ 415 ​ 398 ​ Settlements with tax authorities ​ ​ — ​ ​ (17,613) ​ Expiration of statute of limitations ​ ​ — ​ ​ — ​ Balance at end of year ​ $ 8,004 ​ $ 7,525 ​ ​ As of December 31, 2020, we had approximately $1.7 billion, $1.6 billion and $2.0 million of U.S., federal, state and foreign net operating loss carryforwards, respectively. The U.S. federal net operating losses, generated prior to the enactment of the Act, totaling $1.1 billion, will expire from 2029 to 2037 if not utilized and the U.S. federal net operating losses generated after the enactment of the Act, totaling $0.6 billion, do not expire and are carried forward indefinitely. U.S. state net operating losses will expire from 2024 to 2040 if not utilized. We have research and development and orphan drug tax credit carryforwards of ​ 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. 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 of ownership. As of December 31, 2019, our audit by the Internal Revenue Service was finalized for the year ended December 31, 2015. The amount of orphan drug tax credit for years 2009 and 2010 was adjusted, but no additional taxes are due as a result of our net operating losses; this also resulted in a release of the uncertain tax position (“UTP”) of $17.6 million and a decrease to the U.S. federal net operating loss carryforward due to the release of the UTP recorded against the credit. Our federal and state income taxes for the period from January 1, 2009 to December 31, 2014, other than the orphan drug tax credit, and January 1, 2016 through December 31, 2020 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, 2016 to December 31, 2020. 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.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2020
Employee Benefit Plans
Employee Benefit Plans	17. 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 $2.1 million, $2.2 million and $2.0 million for the years ended December 31, 2020, 2019 and 2018, 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 $1.5 million, $1.1 million and $0.9 million for the years ended December 31, 2020, 2019 and 2018, respectively. ​

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2020
Segment Information
Segment Information	18. Segment Information ​ The following table presents information about our reportable segments for the year months ended December 31, 2020, 2019 and 2018 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 ​ 2019 ​ 2018 ​ U.S. Ex-U.S. Total U.S. Ex-U.S. Total U.S. Ex-U.S. Total Product revenue ​ $ 146,259 ​ $ 18,263 ​ $ 164,522 ​ $ 137,187 ​ $ 5,819 ​ $ 143,006 ​ $ 95,388 ​ $ — ​ $ 95,388 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost of sales - product ​ 29,526 ​ 6,602 ​ 36,128 ​ 28,179 ​ 1,747 ​ 29,926 ​ 19,444 ​ — ​ 19,444 ​ Cost of sales - intangible asset amortization ​ 2,287 ​ 2,890 ​ 5,177 ​ 1,956 ​ 2,804 ​ 4,760 ​ 1,954 ​ 676 ​ 2,630 ​ Research and development ​ 249,444 ​ 8,263 ​ 257,707 ​ 275,518 ​ 7,628 ​ 283,146 ​ 226,925 ​ 4,422 ​ 231,347 ​ Selling, general and administrative ​ 139,455 ​ 24,439 ​ 163,894 ​ 161,132 ​ 21,637 ​ 182,769 ​ 161,743 ​ 14,038 ​ 175,781 ​ Acquired in-process research and development ​ ​ — ​ ​ — ​ ​ — ​ ​ 9,440 ​ ​ — ​ ​ 9,440 ​ ​ — ​ ​ — ​ ​ — ​ Other operating expenses ​ ​ 3,804 ​ ​ — ​ ​ 3,804 ​ ​ 9,711 ​ ​ — ​ ​ 9,711 ​ ​ — ​ ​ — ​ ​ — ​ Total expenses ​ 424,516 42,194 466,710 485,936 33,816 519,752 410,066 19,136 429,202 ​ Operating loss ​ ​ (278,257) ​ ​ (23,931) ​ ​ (302,188) ​ ​ (348,749) ​ ​ (27,997) ​ ​ (376,746) ​ ​ (314,678) ​ ​ (19,136) ​ ​ (333,814) ​ ​

Quarterly Information (Unaudite

Quarterly Information (Unaudited)	12 Months Ended
	Dec. 31, 2020
Quarterly Information (Unaudited)
Quarterly Information (Unaudited)	19. Quarterly Information (Unaudited) ​ The results of operations on a quarterly basis for the years ended December 31, 2020 and 2019 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, June 30, September 30, December 31, March 31, June 30, September 30, December 31, ​ ​ 2020 ​ 2020 ​ 2020 ​ 2020 ​ 2019 ​ 2019 ​ 2019 ​ 2019 Revenues: ​ ​ ` ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product revenue ​ $ 42,564 ​ $ 39,887 ​ $ 38,772 ​ $ 43,299 ​ $ 33,118 ​ $ 32,978 ​ $ 37,603 ​ $ 39,307 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost of sales - product ​ ​ 9,096 ​ ​ 9,120 ​ ​ 8,438 ​ ​ 9,474 ​ ​ 7,405 ​ ​ 6,445 ​ ​ 8,134 ​ ​ 7,942 ​ Cost of sales - intangible asset amortization ​ ​ 1,212 ​ ​ 1,280 ​ ​ 1,343 ​ ​ 1,342 ​ ​ 1,120 ​ ​ 1,217 ​ ​ 1,212 ​ ​ 1,211 ​ Research and development ​ 68,221 ​ 69,878 ​ 62,902 ​ 56,706 ​ 62,031 ​ 70,746 ​ 77,896 ​ 72,473 ​ Selling, general and administrative ​ 42,598 ​ 41,902 ​ 38,636 ​ 40,758 ​ 47,761 ​ 48,029 ​ 41,811 ​ 45,168 ​ Acquired in-process research and development ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 9,440 ​ ​ — ​ Other operating expenses ​ ​ 3,449 ​ ​ 355 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 5,539 ​ ​ 4,172 ​ Total expenses ​ 124,576 ​ 122,535 ​ 111,319 ​ 108,280 ​ 118,317 ​ 126,437 ​ 144,032 ​ 130,966 ​ Operating loss ​ (82,012) ​ (82,648) ​ (72,547) ​ (64,981) ​ (85,199) ​ (93,459) ​ (106,429) ​ (91,659) ​ Other income (expense): ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense ​ (9,561) ​ (6,739) ​ (6,859) ​ (7,349) ​ (3,590) ​ (3,817) ​ (5,278) ​ (6,720) ​ Foreign currency (loss) gain ​ (877) ​ 142 ​ 633 ​ 30 ​ (192) ​ (226) ​ (229) ​ 100 ​ (Loss) gain on extinguishment of debt ​ ​ — ​ ​ (3,277) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 18,480 ​ ​ — ​ Loss on convertible senior notes conversion ​ ​ (7,791) ​ ​ — ​ ​ — ​ ​ (27,284) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ Legal settlement loss ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (25,000) ​ ​ (1,750) ​ ​ — ​ Other income ​ 841 ​ 239 ​ 79 ​ 202 ​ 2,400 ​ 1,899 ​ 781 ​ 1,262 ​ Other income (expense), net ​ (17,388) ​ (9,635) ​ (6,147) ​ (34,401) ​ (1,382) ​ (27,144) ​ 12,004 ​ (5,358) ​ Loss before income taxes ​ (99,400) ​ (92,283) ​ (78,694) ​ (99,382) ​ (86,581) ​ (120,603) ​ (94,425) ​ (97,017) ​ Income tax benefit (expense) ​ 68 ​ 36 ​ 18 ​ 425 ​ 160 ​ 176 ​ 350 ​ (2,484) ​ Net loss ​ $ (99,332) ​ $ (92,247) ​ $ (78,676) ​ $ (98,957) ​ $ (86,421) ​ $ (120,427) ​ $ (94,075) ​ $ (99,501) ​ Basic and diluted net loss per common share ​ $ (1.39) ​ $ (1.15) ​ $ (0.89) ​ $ (1.02) ​ $ (1.63) ​ $ (2.27) ​ $ (1.72) ​ $ (1.81) ​ Basic and diluted weighted average common shares outstanding ​ 71,662 ​ 80,453 ​ 88,255 ​ 96,681 ​ 52,891 ​ 53,028 ​ 54,707 ​ 54,834 ​ ​

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
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. ​
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 deductions, 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 and the Europe markets. We distribute our product principally through a limited number of specialty distributor and specialty pharmacy providers, collectively, our customers. Our customers subsequently sell 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. See Note 3, Revenue Recognition
Cost of Sales	Cost of Sales – Product Product cost of sales consists primarily of materials, third-party manufacturing costs as well as freight and royalties owed to our licensing partners for Rubraca sales. Cost of Sales – Intangible Asset Amortization Cost of sales for intangible asset amortization consists of the amortization of capitalized milestone payments made to our licensing partners upon FDA approval of Rubraca. Milestone payments are amortized on a straight-line basis over the estimated remaining patent life of Rubraca.
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 5, 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 income/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 and Comprehensive Loss. 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. ​ We determine whether a decline in the fair value below the amortized cost basis (i.e., impairment) of an available-for-sale debt is security is due to credit-related factors or noncredit-related factors. Any impairment that is not credit related is recognized in accumulated other comprehensive loss, net of applicable taxes. When evaluating an impairment, entities may not use the length of time a security has been in an unrealized loss position as a factor, either by itself or in combination with other factors, to conclude that a credit loss does not exist. ​
Accounts Receivable	Accounts Receivable ​ We provide an allowance for credit losses based on experience and specifically identified risks. Accounts receivable are charged off against the allowance when we determine that recovery is unlikely and we cease collection efforts.
Inventory	Inventory ​ Inventories are stated at the lower of cost or estimated net realizable value, on a first-in, first-out (“FIFO”) basis. Inventories include active pharmaceutical ingredient (“API”), contract manufacturing costs and overhead allocations. We begin capitalizing incurred inventory related costs upon regulatory approval. Prior to regulatory approval, incurred costs for the manufacture of drugs that could potentially be available to support the commercial launch of our products are recognized as research and development expense. ​ We regularly analyze our inventory levels for excess quantities and obsolescence (expiration), considering factors such as historical and anticipated future sales compared to quantities on hand and the remaining shelf-life of Rubraca. Rubraca finished goods have a shelf-life of four years from the date of manufacture. We expect to sell the finished goods prior to expiration. The API currently has a shelf-life of four years from the date of manufacture but can be retested at an immaterial cost with no expected reduction in potency, thereby extending its shelf-life as needed. We expect to consume substantially all of the API over a period of approximately seven years based on our long-range sales projections of Rubraca. ​ We 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. Expired inventory would be disposed of and the related costs would be written off as cost of product revenue. Inventories that are not expected to be consumed within 12 months following the balance sheet date are classified as long-term inventories. Long-term inventories primarily consist of API. API is currently produced by Lonza. As the API has undergone significant manufacturing specific to its intended purpose at the point it is purchased by us, we classify the API as work-in-process inventory. In addition, we currently manufacture Rubraca finished goods with a single third-party manufacturer. The disruption or termination of the supply of API or the disruption or termination of the manufacturing of our commercial products could have a material adverse effect on our business, financial position and results of operations. API that is written off due to damage and certain costs related to our dedicated production train at Lonza are included in Other Operating Expenses in the Consolidated Statements of Operations and Comprehensive Loss. ​ Inventory used in clinical trials is expensed as research and development expense when it has been identified for such use.
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. Leased assets meeting certain finance lease criteria are capitalized and the present value of the related lease payments is recorded as a liability. Assets under finance lease arrangements are depreciated using the straight-line method over the estimated useful lives. 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 and Comprehensive Loss. ​ 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. ​
Goodwill	Goodwill ​ Goodwill was recorded as a result of the EOS acquisition in November 2013. 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 two reporting units based on our operating segments, U.S. and ex-U.S. We determined that our goodwill was allocated to the U.S. reporting unit and performed impairment testing by assessing qualitative factors to determine whether it is more likely than not (that is, a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount. Based on our qualitative assessment, we determined that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount. Therefore, the quantitative goodwill impairment test is not necessary. There is no goodwill impairment as of December 31, 2020.
Other Current Assets	Other Current Assets ​ Other current assets are comprised of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ 2020 2019 Prepaid insurance ​ $ 782 ​ $ 505 ​ Prepaid IT ​ ​ 753 ​ ​ 698 ​ Prepaid variable considerations ​ ​ 1,191 ​ ​ 550 ​ Prepaid expenses - other ​ 2,193 ​ 2,821 ​ Value-added tax ("VAT") receivable ​ ​ 2,202 ​ ​ 11,920 ​ Receivable - other ​ 1,884 ​ 2,176 ​ Other ​ 125 ​ 177 ​ Total ​ $ 9,130 ​ $ 18,847 ​ ​
Other Accrued Expenses	Other Accrued Expenses ​ Other accrued expenses are comprised of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ 2020 2019 Accrued personnel costs ​ $ 18,334 ​ $ 16,915 ​ Accrued interest payable for convertible senior notes ​ 2,991 ​ 5,903 ​ Income tax payable ​ ​ 907 ​ ​ 3,505 ​ Accrued corporate legal fees and professional services ​ ​ 459 ​ ​ 310 ​ Accrued royalties ​ ​ 6,617 ​ ​ 6,038 ​ Accrued variable considerations ​ ​ 11,701 ​ ​ 5,748 ​ Accrued expenses - other ​ 4,199 ​ 3,809 ​ Total ​ $ 45,208 ​ $ 42,228 ​
Segment Information	Segment Information ​ As of December 31, 2020, we determined that we have two operating and reportable segments, U.S. and ex-U.S., based on product revenue by geographic areas since our product revenue outside of the United States represented 11% of total product revenue. We designated our reporting segments based on the internal reporting used by the Chief Operating Decision Maker (“CODM”), which is our Chief Executive Officer, for making decisions and assessing performance as the source of our reportable segments. The CODM allocates resources and assesses the performance of each operating segment based on product revenue by geographic areas. Accordingly, we view our business as two reportable operating segments to evaluate performance, allocate resources, set operational targets and forecast our future period financial results. ​ We manage our assets on a company basis, not by segments, as many of our assets are shared or commingled. Our CODM does not regularly review asset information by reportable segment. The majority of long-lived assets for both segments are located in the United States.
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. ​ 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.
Advertising Expense	Advertising Expense In connection with the FDA approval and commercial launch of Rubraca in 2016, we began to incur advertising costs. Advertising costs are expense when services are performed, or goods are delivered. We incurred $17.0 million, $21.2 million and $15.9 million in expense for the years ended December 31, 2020, 2019 and 2018, respectively.
Legal Settlement Loss	Legal Settlement Loss ​ Following our regulatory announcement in November 2015 of adverse developments in our ongoing clinical trials for rociletinib, we and certain of our current and former executives were named in various securities lawsuits. As a result of these lawsuits, during 2019, we recorded a charge of $26.8 million to settle the Antipodean Complaint. During 2018, we recorded a charge of $8.0 million related to an agreement to resolve a potential litigation claim against us and our officers and we also recorded a charge of $20.0 million related to an agreement reached with the SEC to resolve its investigation. For the remaining actions related to rociletinib, see Note 13, Commitments and Contingencies
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 and Comprehensive Loss. As of December 31, 2020, and 2019, approximately 3% and 4%, 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 and Issued Accounting Standards	Recently Adopted Accounting Standards ​ In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. The guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted. We adopted ASU 2016-13 as of January 1, 2020. Upon the adoption of ASU 2016-13 on January 1, 2020, we are required to determine whether a decline in the fair value below the amortized cost basis (i.e., impairment) of an available-for-sale debt is security is due to credit-related factors or noncredit-related factors. Any impairment that is not credit related is recognized in accumulated other comprehensive loss, net of applicable taxes. When evaluating an impairment, entities may not use the length of time a security has been in an unrealized loss position as a factor, either by itself or in combination with other factors, to conclude that a credit loss does not exist. We applied this impairment model for available-for-sale debt securities as of January 1, 2020 and no impairment was recognized upon adoption. In addition, no impairment was recognized for the year ended December 31, 2020. We recognized a minimal allowance for credit losses related to our accounts receivable at December 31, 2020. The adoption of ASU 2016-13 did not materially impact our consolidated financial statements and disclosures. ​ In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement”. The guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We adopted ASU 2018-13 as of January 1, 2020 and there was no material impact on our consolidated financial statements and related disclosures. ​ Recently Issued Accounting Standards ​ From time to time, the FASB or other standards setting bodies issue new accounting pronouncements. Updates to the FASB Accounting Standards Codification (“ASC”) are communicated through issuance of an ASU. In August 2020, the FASB issued guidance that simplifies an issuer’s accounting for debt and equity instruments. The guidance is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early application is permitted. We plan to adopt this guidance on January 1, 2022. We will evaluate the impact this guidance may have on our consolidated financial statements and related disclosures as the adoption date approaches .
Convertible Senior Notes	The remaining debt issuance costs are presented as a deduction from the convertible senior notes on the Consolidated Balance Sheets and are amortized as interest expense over the expected life of the 2021 Notes using the effective interest method. We determined the expected life of the debt was equal to the seven-year term of the 2021 Notes.
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 RSUs and the if-converted method for the convertible senior 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. ​
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 or liabilities. ​
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. ​

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Summary of Significant Accounting Policies
Estimated Useful Lives of Capitalized Assets	​ ​ ​ ​ ​ ​ ​ 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, ​ December 31, ​ ​ 2020 2019 Prepaid insurance ​ $ 782 ​ $ 505 ​ Prepaid IT ​ ​ 753 ​ ​ 698 ​ Prepaid variable considerations ​ ​ 1,191 ​ ​ 550 ​ Prepaid expenses - other ​ 2,193 ​ 2,821 ​ Value-added tax ("VAT") receivable ​ ​ 2,202 ​ ​ 11,920 ​ Receivable - other ​ 1,884 ​ 2,176 ​ Other ​ 125 ​ 177 ​ Total ​ $ 9,130 ​ $ 18,847 ​
Other Accrued Expenses	Other accrued expenses are comprised of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ 2020 2019 Accrued personnel costs ​ $ 18,334 ​ $ 16,915 ​ Accrued interest payable for convertible senior notes ​ 2,991 ​ 5,903 ​ Income tax payable ​ ​ 907 ​ ​ 3,505 ​ Accrued corporate legal fees and professional services ​ ​ 459 ​ ​ 310 ​ Accrued royalties ​ ​ 6,617 ​ ​ 6,038 ​ Accrued variable considerations ​ ​ 11,701 ​ ​ 5,748 ​ Accrued expenses - other ​ 4,199 ​ 3,809 ​ Total ​ $ 45,208 ​ $ 42,228 ​

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue Recognition
Product Revenue Percentage from Customers Over 10%	​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ 2020 2019 Customer A ​ 21% 25% Customer B ​ 14% 20% Customer C ​ 18% 15% Customer D ​ 11% 12% Customer E ​ 10% 10%

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Property and Equipment
Property and Equipment	Property and equipment consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 2019 Laboratory, manufacturing and office equipment ​ $ 1,267 ​ $ 1,290 ​ Leasehold improvements ​ 17,256 ​ 16,946 ​ Furniture and fixtures ​ 2,782 ​ 2,805 ​ Computer hardware and software ​ 1,835 ​ 1,699 ​ Total property and equipment ​ 23,140 ​ 22,740 ​ Less: accumulated depreciation ​ (11,055) ​ (7,453) ​ Total property and equipment, net ​ $ 12,085 ​ $ 15,287 ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Measurements
Assets Measured at Fair Value on Recurring Basis	The following table identifies our assets that were measured at fair value on a recurring basis (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance Level 1 Level 2 Level 3 December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market ​ $ 147,921 ​ $ 147,921 ​ $ — ​ $ — ​ U.S. treasury securities ​ — ​ — ​ — ​ — ​ Total assets at fair value ​ $ 147,921 ​ $ 147,921 ​ $ — ​ $ — ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market ​ $ 61,882 ​ $ 61,882 ​ $ — ​ $ — ​ U.S. treasury securities ​ 189,736 ​ 54,910 ​ 134,826 ​ — ​ Total assets at fair value ​ $ 251,618 ​ $ 116,792 ​ $ 134,826 ​ $ — ​

Available-for-Sale Securities (

Available-for-Sale Securities (Tables)	12 Months Ended
	Dec. 31, 2020
Available-for-Sale Securities
Summary of Available-for-Sale Securities	As of December 31, 2019, 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 ​ $ 134,826 ​ $ — ​ $ — ​ $ 134,826 ​

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2020
Inventories
Schedule of Inventories	The following table presents inventories as of December 31, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 2019 Work-in-process $ 102,507 $ 104,139 Finished goods, net ​ 32,330 ​ 20,433 Total inventories $ 134,837 $ 124,572

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Intangible Assets
Intangible assets related to capitalized milestones under license agreements	At December 31, 2020 and 2019, intangible assets related to capitalized milestones under license agreements consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ 2020 2019 Intangible asset - milestones ​ $ 79,850 ​ $ 71,850 Accumulated amortization ​ (14,107) ​ (8,930) Total intangible asset, net ​ $ 65,743 ​ $ 62,920
Estimated future amortization expense for intangible assets	Estimated future amortization expense for intangible assets as of December 31, 2020 is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ ​ ​ ​ $ 5,371 2022 ​ ​ ​ ​ ​ 5,371 2023 ​ ​ ​ ​ ​ 5,371 2024 ​ ​ ​ ​ ​ 5,371 2025 ​ ​ ​ ​ ​ 5,371 Thereafter ​ ​ ​ ​ ​ 38,888 ​ ​ ​ ​ ​ $ 65,743

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases
Schedule of components of lease expense and related cash flows	The components of lease expense and related cash flows were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ Year ended December 31, ​ 2020 2019 Lease cost ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ $ 1,895 ​ $ 1,898 Interest on lease liabilities ​ 816 ​ 759 Operating lease cost ​ 4,649 ​ 4,003 Short-term lease cost ​ 401 ​ 301 Variable lease cost ​ ​ 2,071 ​ ​ 2,261 Total lease cost ​ $ 9,832 ​ $ 9,222 ​ ​ ​ ​ ​ ​ ​ Operating cash flows from finance leases ​ $ 816 ​ $ 759 Operating cash flows from operating leases ​ $ 4,649 ​ $ 4,003 Financing cash flows from finance leases ​ $ 1,470 ​ $ 1,115
Schedule of weighted-average remaining lease term and weighted-average discount rate	The weighted-average remaining lease term and weighted-average discount rate were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 December 31, 2019 ​ Weighted-average remaining lease term (years) ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 6.6 ​ ​ 6.9 ​ Finance leases ​ ​ 5.0 ​ ​ 6.0 ​ Weighted-average discount rate ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 8% ​ ​ 8% ​ Finance leases ​ ​ 8% ​ ​ 8% ​
Schedule of future minimum commitments due under lease agreements	Future minimum commitments due under these lease agreements as of December 31, 2020 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ Finance Leases ​ Total 2021 ​ 5,796 ​ 2,287 ​ 8,083 2022 ​ 5,308 ​ 2,287 ​ 7,595 2023 ​ 4,859 ​ 2,287 ​ 7,146 2024 ​ ​ 4,868 ​ ​ 2,287 ​ ​ 7,155 2025 ​ ​ 5,025 ​ ​ 2,287 ​ ​ 7,312 Thereafter ​ 9,938 ​ — ​ 9,938 Present value adjustment ​ ​ (8,223) ​ ​ (2,036) ​ ​ (10,259) Present value of lease payments ​ $ 27,571 ​ $ 9,399 ​ $ 36,970

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Debt
Schedule of Future Annual Principal Payments on Convertible Senior Notes	The following is a summary of our convertible senior notes at December 31, 2020 and 2019 (principal amount in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Principal Amount ​ Principal Amount ​ ​ ​ ​ ​ ​ December 31, 2020 ​ December 31, 2019 Interest Rate ​ Due Date 2021 Notes ​ $ 64,418 ​ $ 97,188 ​ 2.50% ​ September 15, 2021 2024 Notes (2019 Issuance) ​ 85,782 ​ 263,000 ​ 4.50% ​ August 1, 2024 2024 Notes (2020 Issuance) ​ ​ 57,500 ​ ​ — ​ 4.50% ​ August 1, 2024 2025 Notes ​ 300,000 ​ 300,000 ​ 1.25% ​ May 1, 2025 Total ​ $ 507,700 ​ $ 660,188 ​ ​ ​ ​
Schedule of aggregate convertible	Maturities of our convertible notes consisted of the following as of December 31, 2020 (in thousands): ​ ​ ​ ​ ​ 2021 ​ $ 64,418 2022 ​ ​ — 2023 ​ ​ — 2024 ​ ​ 143,282 2025 ​ ​ 300,000 Thereafter ​ ​ — ​ ​ ​ 507,700 Less debt issuance costs ​ ​ (8,656) Current portion ​ ​ (64,198) Long-term portion ​ $ 434,846
Schedule of expected maturities of Finance Agreement	Expected maturities of our Financing Agreement consisted of the following as of December 31, 2020 (in thousands): ​ ​ ​ ​ ​ 2021 ​ $ — 2022 ​ ​ 8,934 2023 ​ ​ 41,091 2024 ​ ​ 45,532 2025 ​ ​ 16,820 Thereafter ​ ​ — ​ ​ ​ 112,377 Less debt issuance costs ​ ​ (1,460) Current portion ​ ​ — Long-term portion ​ $ 110,917
Schedule of Total Interest Expense Recognized Related to Notes	The following table sets forth total interest expense recognized during the years ended December 31, 2020, 2019 and 2018 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 2019 2018 Interest on convertible notes ​ $ 11,934 ​ $ 13,680 ​ $ 9,812 Amortization of debt issuance costs ​ 2,672 ​ 2,858 ​ 2,178 Debt issuance cost derecognized related to convertible debt transactions ​ ​ 4,345 ​ ​ — ​ ​ — Interest on finance lease ​ ​ 816 ​ ​ 759 ​ ​ — Interest on borrowings under ATHENA financing agreement ​ ​ 10,624 ​ ​ 1,997 ​ ​ — Accretion of interest on milestone liability ​ ​ — ​ ​ — ​ ​ 977 Interest on capital lease liability ​ ​ — ​ ​ — ​ ​ 216 Other interest ​ ​ 117 ​ ​ 111 ​ ​ — Total interest expense ​ $ 30,508 ​ $ 19,405 ​ $ 13,183

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Stockholders' Equity
Component of Other Comprehensive Income (Loss)	The changes in accumulated balances related to each component of other comprehensive income (loss) are summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency ​ Unrealized ​ Total Accumulated ​ ​ Translation Adjustments ​ (Losses) Gains ​ Other Comprehensive Loss Balance at December 31, 2018 ​ $ (44,460) ​ $ (174) ​ $ (44,634) Other comprehensive income (loss) ​ ​ (272) ​ 41 ​ (231) Total before tax ​ ​ (44,732) ​ ​ (133) ​ ​ (44,865) Tax effect ​ — ​ ​ — ​ — Balance at December 31, 2019 ​ ​ (44,732) ​ ​ (133) ​ ​ (44,865) Other comprehensive income (loss) ​ ​ 567 ​ ​ (6) ​ ​ 561 Total before tax ​ ​ (44,165) ​ ​ (139) ​ ​ (44,304) Tax effect ​ — ​ ​ — ​ — Balance at December 31, 2020 ​ $ (44,165) ​ $ (139) ​ $ (44,304)

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Share-Based Compensation
Share-Based Compensation Expense Recognized in Accompanying Statements of Operations	Share-based compensation expense for the years ended December 31, 2020, 2019 and 2018, respectively, was recognized in the accompanying Consolidated Statements of Operations and Comprehensive Loss as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 2019 2018 Research and development ​ $ 25,577 ​ $ 25,838 ​ $ 20,489 ​ Selling, general and administrative ​ 25,217 ​ 28,466 ​ 28,601 ​ Total share-based compensation expense ​ $ 50,794 ​ $ 54,304 ​ $ 49,090 ​
Summary of Stock Options Activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ Aggregate ​ ​ ​ ​ Average ​ Remaining ​ Intrinsic ​ ​ Number of ​ Exercise ​ Contractual ​ Value ​ ​ Options ​ Price ​ Term (Years) ​ (Thousands) Outstanding at December 31, 2019 ​ 6,287,025 ​ $ 42.24 ​ ​ Granted ​ 980,592 ​ 7.35 ​ ​ Exercised ​ (117,932) ​ 3.23 ​ ​ Forfeited ​ (649,016) ​ 41.15 ​ ​ Outstanding at December 31, 2020 ​ 6,500,669 ​ $ 37.79 5.6 ​ $ 127 ​ Vested and expected to vest at December 31, 2020 ​ 6,371,758 ​ $ 38.24 5.5 ​ $ 118 ​ Vested and exercisable at December 31, 2020 ​ 5,026,455 ​ $ 43.87 4.7 ​ $ 31 ​
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, 2020, 2019 and 2018 (in thousands, except weighted-average grant date fair value per share): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 2019 2018 Weighted-average grant date fair value per share ​ $ 5.67 ​ $ 13.53 ​ $ 32.09 ​ Intrinsic value of options exercised ​ $ 381 ​ $ 1,525 ​ $ 1,714 ​ Cash received from stock option exercises ​ $ 236 ​ $ 1,361 ​ $ 1,869 ​
Weighted-Average Assumptions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 2019 2018 Dividend yield ​ — ​ — ​ — ​ Volatility (a) ​ 99 % 93 % 88 % Risk-free interest rate (b) ​ 0.49 % 1.67 % 2.92 % Expected term (years) (c) ​ 6.0 ​ 5.9 ​ 5.9 ​ ​ (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.
Summary of activity related to our unvested RSUs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant Date ​ ​ Units ​ Fair Value Unvested at December 31, 2019 ​ 2,171,347 ​ $ 28.37 ​ Granted ​ 2,441,804 ​ 8.21 ​ Vested ​ (1,012,699) ​ 28.85 ​ Forfeited ​ (636,905) ​ 15.51 ​ Unvested at December 31, 2020 ​ 2,963,547 ​ $ 14.36 ​ Expected to vest after December 31, 2020 ​ 2,862,148 ​ $ 14.09 ​
Reserved Shares of Common Stock for Future Issuance	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for ​ ​ ​ ​ ​ Grant ​ Total Shares of ​ ​ Common Stock ​ or Future ​ Common Stock ​ ​ Outstanding ​ Issuance ​ Reserved 2009 Equity Incentive Plan ​ 64,522 — 64,522 ​ 2011 Stock Incentive Plan ​ 8,878,976 — 8,878,976 ​ 2020 Stock Incentive Plan ​ 520,718 5,949,282 6,470,000 ​ 2011 Employee Stock Purchase Plan ​ — 361,656 361,656 ​ Total ​ 9,464,216 6,310,938 15,775,154 ​
Weighted-Average Assumptions Used to Estimate Fair Value of Purchase Awards Granted	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 2019 2018 Dividend yield ​ — — — ​ Volatility (a) ​ 138 % 79 % 51 % Risk-free interest rate (b) ​ 0.90 % 2.20 % 1.90 % Expected term (years) (c) ​ 0.5 0.5 0.5 ​ (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 .

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2020
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, ​ 2020 2019 2018 Common shares under stock incentive plans ​ 3,095 ​ 2,480 ​ 1,319 ​ Convertible senior notes ​ 25,969 ​ 41,598 ​ 8,584 ​ Total potential dilutive shares ​ 29,064 ​ 44,078 ​ 9,903 ​

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Taxes
Loss Before Income Taxes	The geographical components of loss before income taxes consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 2019 2018 Domestic ​ $ (370,839) ​ $ (399,497) ​ $ (368,402) ​ Foreign ​ 1,080 871 ​ 1,001 Total loss before income taxes ​ $ (369,759) ​ $ (398,626) ​ $ (367,401) ​
Current and Deferred Tax Expenses (Benefit)	The income tax provision consists of the following current and deferred tax expense (benefit) amounts (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ ​ 2020 2019 2018 ​ Current tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Federal & State ​ $ 50 ​ $ 3 ​ $ 15 ​ Foreign ​ (597) 1,795 ​ 593 ​ Total current expense (benefit) ​ ​ (547) ​ ​ 1,798 ​ ​ 608 ​ Deferred tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Federal & State ​ ​ — ​ ​ — ​ ​ — ​ Foreign ​ — — ​ — ​ Total deferred (benefit) ​ ​ — ​ ​ — ​ ​ — ​ Total income tax expense (benefit) ​ $ (547) ​ $ 1,798 ​ $ 608 ​ ​
Reconciliation of Federal Statutory Income Tax Rate to Effective Income Tax Rate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 2019 2018 Federal income tax benefit at statutory rate ​ (21.0) % (21.0) % (21.0) % State income tax benefit, net of federal benefit ​ (1.6) (2.9) (3.1) ​ Tax credits ​ (1.5) (1.1) (1.3) ​ Change in uncertain tax positions ​ 0.1 ​ (4.3) ​ 0.1 ​ SEC settlement costs ​ — ​ — ​ 1.1 ​ Convertible debt transactions ​ 2.2 ​ — ​ — ​ Prior year true ups ​ 0.9 ​ 0.1 ​ (0.8) ​ Share based compensation ​ 2.6 ​ 2.3 ​ 0.8 ​ Tax rate changes ​ 1.4 ​ 0.1 ​ 0.3 ​ Change in valuation allowance ​ 16.1 ​ 26.5 ​ 23.2 ​ Other ​ 0.6 ​ 0.8 ​ 0.9 ​ Effective income tax rate ​ (0.2) % 0.5 % 0.2 %
Components of Deferred Tax Assets and Liabilities	The significant components of our deferred tax assets and liabilities are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 2019 Deferred tax assets: ​ ​ ​ ​ Net operating loss carryforward ​ $ 414,932 ​ $ 396,100 Tax credit carryforwards ​ 247,064 ​ 243,901 Interest expense limitation carryforward ​ ​ 5,371 ​ ​ 4,449 ​ Intangible assets ​ 94,558 ​ 61,459 Share-based compensation expense ​ 33,169 ​ 34,006 Product acquisition costs ​ 4,992 ​ 6,288 Lease liabilities ​ ​ 6,122 ​ ​ 5,317 ​ Accrued liabilities and other ​ 7,488 ​ 5,817 Total deferred tax assets ​ 813,696 ​ 757,337 Valuation allowance ​ (806,622) ​ (750,508) Deferred tax assets, net of valuation allowance ​ 7,074 ​ 6,829 Deferred tax liabilities: ​ ​ ​ ​ ​ ​ Right-of-use assets ​ ​ (6,799) ​ ​ (6,337) ​ Prepaid expenses and fixed assets ​ (275) ​ (492) Total deferred tax liabilities ​ (7,074) ​ (6,829) 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, ​ ​ ​ 2020 2019 ​ Balance at beginning of year ​ $ 7,525 ​ $ 24,775 ​ Changes related to prior period tax positions ​ ​ 64 ​ ​ (35) ​ Additions related to current period tax positions ​ 415 ​ 398 ​ Settlements with tax authorities ​ ​ — ​ ​ (17,613) ​ Expiration of statute of limitations ​ ​ — ​ ​ — ​ Balance at end of year ​ $ 8,004 ​ $ 7,525 ​

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Information
Schedule of information about reportable segments	The following table presents information about our reportable segments for the year months ended December 31, 2020, 2019 and 2018 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 ​ 2019 ​ 2018 ​ U.S. Ex-U.S. Total U.S. Ex-U.S. Total U.S. Ex-U.S. Total Product revenue ​ $ 146,259 ​ $ 18,263 ​ $ 164,522 ​ $ 137,187 ​ $ 5,819 ​ $ 143,006 ​ $ 95,388 ​ $ — ​ $ 95,388 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost of sales - product ​ 29,526 ​ 6,602 ​ 36,128 ​ 28,179 ​ 1,747 ​ 29,926 ​ 19,444 ​ — ​ 19,444 ​ Cost of sales - intangible asset amortization ​ 2,287 ​ 2,890 ​ 5,177 ​ 1,956 ​ 2,804 ​ 4,760 ​ 1,954 ​ 676 ​ 2,630 ​ Research and development ​ 249,444 ​ 8,263 ​ 257,707 ​ 275,518 ​ 7,628 ​ 283,146 ​ 226,925 ​ 4,422 ​ 231,347 ​ Selling, general and administrative ​ 139,455 ​ 24,439 ​ 163,894 ​ 161,132 ​ 21,637 ​ 182,769 ​ 161,743 ​ 14,038 ​ 175,781 ​ Acquired in-process research and development ​ ​ — ​ ​ — ​ ​ — ​ ​ 9,440 ​ ​ — ​ ​ 9,440 ​ ​ — ​ ​ — ​ ​ — ​ Other operating expenses ​ ​ 3,804 ​ ​ — ​ ​ 3,804 ​ ​ 9,711 ​ ​ — ​ ​ 9,711 ​ ​ — ​ ​ — ​ ​ — ​ Total expenses ​ 424,516 42,194 466,710 485,936 33,816 519,752 410,066 19,136 429,202 ​ Operating loss ​ ​ (278,257) ​ ​ (23,931) ​ ​ (302,188) ​ ​ (348,749) ​ ​ (27,997) ​ ​ (376,746) ​ ​ (314,678) ​ ​ (19,136) ​ ​ (333,814) ​

Quarterly Information (Unaudi_2

Quarterly Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Information (Unaudited)
Results of Operations on Quarterly Basis	The results of operations on a quarterly basis for the years ended December 31, 2020 and 2019 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, June 30, September 30, December 31, March 31, June 30, September 30, December 31, ​ ​ 2020 ​ 2020 ​ 2020 ​ 2020 ​ 2019 ​ 2019 ​ 2019 ​ 2019 Revenues: ​ ​ ` ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product revenue ​ $ 42,564 ​ $ 39,887 ​ $ 38,772 ​ $ 43,299 ​ $ 33,118 ​ $ 32,978 ​ $ 37,603 ​ $ 39,307 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost of sales - product ​ ​ 9,096 ​ ​ 9,120 ​ ​ 8,438 ​ ​ 9,474 ​ ​ 7,405 ​ ​ 6,445 ​ ​ 8,134 ​ ​ 7,942 ​ Cost of sales - intangible asset amortization ​ ​ 1,212 ​ ​ 1,280 ​ ​ 1,343 ​ ​ 1,342 ​ ​ 1,120 ​ ​ 1,217 ​ ​ 1,212 ​ ​ 1,211 ​ Research and development ​ 68,221 ​ 69,878 ​ 62,902 ​ 56,706 ​ 62,031 ​ 70,746 ​ 77,896 ​ 72,473 ​ Selling, general and administrative ​ 42,598 ​ 41,902 ​ 38,636 ​ 40,758 ​ 47,761 ​ 48,029 ​ 41,811 ​ 45,168 ​ Acquired in-process research and development ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 9,440 ​ ​ — ​ Other operating expenses ​ ​ 3,449 ​ ​ 355 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 5,539 ​ ​ 4,172 ​ Total expenses ​ 124,576 ​ 122,535 ​ 111,319 ​ 108,280 ​ 118,317 ​ 126,437 ​ 144,032 ​ 130,966 ​ Operating loss ​ (82,012) ​ (82,648) ​ (72,547) ​ (64,981) ​ (85,199) ​ (93,459) ​ (106,429) ​ (91,659) ​ Other income (expense): ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense ​ (9,561) ​ (6,739) ​ (6,859) ​ (7,349) ​ (3,590) ​ (3,817) ​ (5,278) ​ (6,720) ​ Foreign currency (loss) gain ​ (877) ​ 142 ​ 633 ​ 30 ​ (192) ​ (226) ​ (229) ​ 100 ​ (Loss) gain on extinguishment of debt ​ ​ — ​ ​ (3,277) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 18,480 ​ ​ — ​ Loss on convertible senior notes conversion ​ ​ (7,791) ​ ​ — ​ ​ — ​ ​ (27,284) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ Legal settlement loss ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (25,000) ​ ​ (1,750) ​ ​ — ​ Other income ​ 841 ​ 239 ​ 79 ​ 202 ​ 2,400 ​ 1,899 ​ 781 ​ 1,262 ​ Other income (expense), net ​ (17,388) ​ (9,635) ​ (6,147) ​ (34,401) ​ (1,382) ​ (27,144) ​ 12,004 ​ (5,358) ​ Loss before income taxes ​ (99,400) ​ (92,283) ​ (78,694) ​ (99,382) ​ (86,581) ​ (120,603) ​ (94,425) ​ (97,017) ​ Income tax benefit (expense) ​ 68 ​ 36 ​ 18 ​ 425 ​ 160 ​ 176 ​ 350 ​ (2,484) ​ Net loss ​ $ (99,332) ​ $ (92,247) ​ $ (78,676) ​ $ (98,957) ​ $ (86,421) ​ $ (120,427) ​ $ (94,075) ​ $ (99,501) ​ Basic and diluted net loss per common share ​ $ (1.39) ​ $ (1.15) ​ $ (0.89) ​ $ (1.02) ​ $ (1.63) ​ $ (2.27) ​ $ (1.72) ​ $ (1.81) ​ Basic and diluted weighted average common shares outstanding ​ 71,662 ​ 80,453 ​ 88,255 ​ 96,681 ​ 52,891 ​ 53,028 ​ 54,707 ​ 54,834 ​

Nature of Business (Details)

Nature of Business (Details)	12 Months Ended
	Dec. 31, 2020itemproduct
Number of other product candidates | product	2
Minimum estimated number of months operating plan funded	12 months
Minimum
Number of chemotherapies received by an adult patient	2
Number of prior lines of platinum based chemotherapy received by patient	2

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) $ in Thousands	Jan. 01, 2020USD ($)	Dec. 31, 2020USD ($)segment	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Summary of Significant Accounting Policies
Shelf-life of API		4 years
Consumption period of API		7 years
Number of operating and reportable segments | segment		2
Impairment of goodwill		$ 0
Advertising expense		$ 17,000	$ 21,200	$ 15,900
Legal settlement charge recognized during the period			$ 26,800	20,000
Total liabilities denominated in currencies other than functional currency		3.00%	4.00%
Product revenue | Non-U.S | ex U.S.
Summary of Significant Accounting Policies
Percentage of revenues		11.00%
Board of Directors
Summary of Significant Accounting Policies
Legal settlement charge recognized during the period				$ 8,000
ASU 16-13
Cash, Cash Equivalents and Available-for-Sale Securities
Impairment for available for debt securities	$ 0	$ 0
Rucaparib
Summary of Significant Accounting Policies
Shelf life of inventory		4 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2020
Computer hardware and software | Minimum
Property and Equipment
Property and equipment, estimated useful lives	3 years
Computer hardware and software | Maximum
Property and Equipment
Property and equipment, estimated useful lives	5 years
Leasehold improvements
Property and Equipment
Property and equipment, estimated useful lives	6 years
Laboratory, manufacturing, and office equipment | Minimum
Property and Equipment
Property and equipment, estimated useful lives	5 years
Laboratory, manufacturing, and office equipment | Maximum
Property and Equipment
Property and equipment, estimated useful lives	7 years
Furniture and fixtures
Property and Equipment
Property and equipment, estimated useful lives	10 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Summary of Significant Accounting Policies
Prepaid insurance	$ 782	$ 505
Prepaid IT	753	698
Prepaid variable considerations	1,191	550
Prepaid expenses - other	2,193	2,821
Value-added tax ("VAT") receivable	2,202	11,920
Receivable - other	1,884	2,176
Other	125	177
Total	$ 9,130	$ 18,847

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Other Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Summary of Significant Accounting Policies
Accrued personnel costs	$ 18,334	$ 16,915
Accrued interest payable for convertible senior notes	2,991	5,903
Income tax payable	907	3,505
Accrued corporate legal fees and professional services	459	310
Accrued royalties	6,617	6,038
Accrued variable considerations	11,701	5,748
Accrued expenses - other	4,199	3,809
Total	$ 45,208	$ 42,228

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Advertising Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Significant Accounting Policies [Line Items]
Advertising Expense	$ 17	$ 21.2	$ 15.9

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue Recognition
Payment terms number of days									30 days
Amortization period of the asset									true
Revenue	$ 43,299	$ 38,772	$ 39,887	$ 42,564	$ 39,307	$ 37,603	$ 32,978	$ 33,118	$ 164,522	$ 143,006	$ 95,388
Product
Revenue Recognition
Revenue									$ 164,500	$ 143,000
Customer A
Revenue Recognition
Percentage of revenues									21.00%	25.00%
Customer B
Revenue Recognition
Percentage of revenues									14.00%	20.00%
Customer C
Revenue Recognition
Percentage of revenues									18.00%	15.00%
Customer D
Revenue Recognition
Percentage of revenues									11.00%	12.00%
Customer E
Revenue Recognition
Percentage of revenues									10.00%	10.00%

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property and Equipment
Property and equipment, gross	$ 23,140	$ 22,740
Less: accumulated depreciation	(11,055)	(7,453)
Total property and equipment, net	12,085	15,287
Laboratory, manufacturing, and office equipment
Property and Equipment
Property and equipment, gross	1,267	1,290
Leasehold improvements
Property and Equipment
Property and equipment, gross	17,256	16,946
Furniture and fixtures
Property and Equipment
Property and equipment, gross	2,782	2,805
Computer hardware and software
Property and Equipment
Property and equipment, gross	$ 1,835	$ 1,699

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property and Equipment
Depreciation expense on property and equipment	$ 3	$ 3	$ 2

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Recurring - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value Measurements
Assets at fair value	$ 147,921	$ 251,618
Liabilities at fair value	0
Money market
Fair Value Measurements
Assets at fair value	147,921	61,882
U.S. treasury securities
Fair Value Measurements
Assets at fair value	0	189,736
Fair Value, Inputs, Level 1
Fair Value Measurements
Assets at fair value	147,921	116,792
Fair Value, Inputs, Level 1 | Money market
Fair Value Measurements
Assets at fair value	147,921	61,882
Fair Value, Inputs, Level 1 | U.S. treasury securities
Fair Value Measurements
Assets at fair value	0	54,910
Fair Value, Inputs, Level 2
Fair Value Measurements
Assets at fair value	0	134,826
Fair Value, Inputs, Level 2 | Money market
Fair Value Measurements
Assets at fair value	0	0
Fair Value, Inputs, Level 2 | U.S. treasury securities
Fair Value Measurements
Assets at fair value	0	134,826
Fair Value, Inputs, Level 3
Fair Value Measurements
Assets at fair value	0	0
Fair Value, Inputs, Level 3 | Money market
Fair Value Measurements
Assets at fair value	0	0
Fair Value, Inputs, Level 3 | U.S. treasury securities
Fair Value Measurements
Assets at fair value	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value Measurements
Convertible senior notes - less current portion	$ 434,846	$ 644,751
Convertible Senior Unsecured Notes 2021 Notes
Fair Value Measurements
Convertible senior notes - less current portion	64,200
Convertible Senior Unsecured Notes 2021 Notes | Fair Value, Inputs, Level 2
Fair Value Measurements
Convertible senior notes, fair value	59,800
Convertible Senior Unsecured Notes 2024 Notes
Fair Value Measurements
Convertible senior notes, fair value	75,400
Principal amount outstanding	83,900
2024 Notes (2020 Issuance)
Fair Value Measurements
Convertible senior notes - less current portion	56,600
Convertible senior notes, fair value	49,100
Convertible Senior Unsecured Notes 2025 Notes
Fair Value Measurements
Convertible senior notes, fair value	211,100
Principal amount outstanding	$ 294,300

Available-for-Sale Securities_2

Available-for-Sale Securities (Details) $ in Thousands	Dec. 31, 2019USD ($)
Available-for-Sale Securities
Available-for-sale securities	$ 134,826
U.S. treasury securities
Available-for-Sale Securities
Amortized Cost	134,826
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Aggregate Fair Value	$ 134,826

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Inventories
Work-in-process	$ 102,507	$ 104,139
Finished goods, net	32,330	20,433
Total inventories	134,837	124,572
Current inventory	30,714	26,519
Long-term inventory	$ 104,123	$ 98,053

Intangible Assets (Details)

Intangible Assets (Details) - Licensing Agreements - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finite Lived Intangible Assets [Line Items]
Intangible asset - milestones	$ 79,850	$ 71,850
Accumulated amortization	(14,107)	(8,930)
Total intangible asset, net	$ 65,743	$ 62,920

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - Licensing Agreements - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	May 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Finite Lived Intangible Assets
Milestone payment related to FDA approval	$ 8
Amortization of Intangible Assets		$ 5.2	$ 4.8

Intangible Assets - Estimated F

Intangible Assets - Estimated Future Amortization (Details) - Licensing Agreements - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finite Lived Intangible Assets
2021	$ 5,371
2022	5,371
2023	5,371
2024	5,371
2025	5,371
Thereafter	38,888
Total intangible asset, net	$ 65,743	$ 62,920

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Lessee Disclosure [Abstract]
Amortization of right-of-use assets	$ 1,895	$ 1,898
Interest on lease liabilities	816	759
Operating lease cost	4,649	4,003
Short-term lease cost	401	301
Variable lease cost	2,071	2,261
Total lease cost	9,832	9,222
Cash flows from leases
Operating cash flows from finance leases	816	759
Operating cash flows from operating leases	4,649	4,003
Financing cash flows from finance leases	$ 1,470	$ 1,115

Leases - Weighted Average (Deta

Leases - Weighted Average (Details)	Dec. 31, 2020	Dec. 31, 2019
Weighted-average remaining lease term (years)
Operating leases	6 years 7 months 6 days	6 years 10 months 24 days
Finance leases	5 years	6 years
Weighted-average discount rate
Operating leases	8.00%	8.00%
Finance leases	8.00%	8.00%

Leases - Future minimum commitm

Leases - Future minimum commitments (Details) $ in Thousands	Dec. 31, 2020USD ($)
Operating Leases
2021	$ 5,796
2022	5,308
2023	4,859
2024	4,868
2025	5,025
Thereafter	9,938
Present value adjustment	(8,223)
Present value of lease payments	$ 27,571
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent us-gaap:OtherLiabilitiesNoncurrent
Finance Leases
2021	$ 2,287
2022	2,287
2023	2,287
2024	2,287
2025	2,287
Present value of adjustment	(2,036)
Present value of lease payments	9,399
Total
2021	8,083
2022	7,595
2023	7,146
2024	7,155
2025	7,312
Thereafter	9,938
Present value adjustment	(10,259)
Present value of lease payments	$ 36,970

Debt (Details)

Debt (Details) $ / shares in Units, $ in Thousands	Nov. 06, 2020USD ($)shares	Nov. 04, 2020$ / shares	Aug. 13, 2019USD ($)$ / shares	May 01, 2019USD ($)countryitemsite	Sep. 09, 2014	Nov. 30, 2020USD ($)	Apr. 30, 2020USD ($)	Aug. 31, 2019USD ($)	Apr. 30, 2018USD ($)D$ / shares	Sep. 30, 2014USD ($)itemD$ / shares	May 31, 2020USD ($)shares	Dec. 31, 2020USD ($)$ / shares	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)
Debt Instrument
Aggregate principal amount												$ 507,700				$ 660,188				$ 507,700	$ 660,188
Debt issuance costs												8,656								8,656
Gain (loss) on extinguishment of debt												0	$ 0	$ (3,277)	$ 0	0	$ 18,480	$ 0	$ 0	(3,277)	18,480
Debt issuance cost												1,460								1,460
Borrowings under financing agreement												110,917				34,991				110,917	34,991
2019
Debt Instrument
Repayments of debt																				35,000
2020
Debt Instrument
Repayments of debt																				$ 50,000
Date is prior to Repayment Start Date
Debt Instrument
Debt instrument ratio of borrowed amount																				1.75%
Date is after Repayment Start Date
Debt Instrument
Debt instrument ratio of borrowed amount																				2.00%
Sixth Street Partners, LLC
Debt Instrument
Principal amount outstanding												110,900								$ 110,900
Debt issuance cost												1,800								1,800
Unamortized debt issuance costs												$ 1,500								$ 1,500
Number of patients | item				1,000
Number of countries | country				25
Interest rate based on amount borrowed				9.75%								10.25%								10.25%
Percentage of royalty payment received				19.50%
Percentage of other amounts received				19.50%
Quarterly payments based on a certain percentage of revenues																				$ 8,500
Quarterly payments with label portion expanded by FDA																				$ 13,500
Ratio of repayment amount				2
Aggregate borrowed amount				$ 166,500
Effective interest rate												14.60%								14.60%
Sixth Street Partners, LLC | Minimum
Debt Instrument
Number of sites | site				270
Sixth Street Partners, LLC | Maximum
Debt Instrument
Aggregate principal amount				$ 175,000
Aggregate borrowed amount				$ 350,000
Convertible Senior Unsecured Notes
Debt Instrument
Aggregate principal amount								$ 263,000	$ 300,000	$ 287,500
Convertible senior notes, interest rate			4.50%					4.50%	1.25%	2.50%
Convertible senior notes, maturity date					Sep. 15, 2021
Net proceeds from convertible senior notes								$ 254,900	$ 290,900	$ 278,300
Common stock initial conversion rate per $1,000 in principal amount			137.2213						13.1278	16.1616
Convertible senior notes, initial conversion price per share | $ / shares			$ 7.29						$ 76.17	$ 61.88
Debt instrument, redemption period start date										Sep. 15, 2018
Last reported sale price of common stock as a percent of conversion price									150.00%	150.00%
Debt instrument, conversion in effect for number of trading days									20	20
Debt instrument conversion, consecutive trading day period | D									30	30
Debt instrument, trading days preceding redemption notice, maximum									2	2
Debt instrument redemption price percentage to principal amount									100.00%	100.00%
Debt instrument repurchase percentage			100.00%						100.00%	100.00%
Debt issuance costs									$ 9,100	$ 9,200
Unamortized debt issuance costs derecognized										$ 2,000
Debt instrument term								5 years	7 years	7 years
Unamortized debt issuance costs												$ 8,700				15,400				$ 8,700	15,400
Convertible Senior Unsecured Notes | Semi Annual Payment, First payment date
Debt Instrument
Interest payment date on senior notes									--05-01	--03-15
Convertible Senior Unsecured Notes | Semi Annual Payment, Second payment date
Debt Instrument
Interest payment date on senior notes									--11-01	--09-15
2021 Notes
Debt Instrument
Aggregate principal amount							$ 32,800					$ 64,418				97,188				$ 64,418	97,188
Convertible senior notes, interest rate												2.50%								2.50%
Convertible senior notes, maturity date																				Sep. 15, 2021
Principal amount outstanding								$ 190,300
Aggregate repurchase price including accrued interest								171,800
Gain (loss) on extinguishment of debt							3,300	$ 18,500
2024 Notes (2019 Issuance)
Debt Instrument
Aggregate principal amount							$ 36,100				$ 24,300	$ 85,782				263,000				$ 85,782	263,000
Convertible senior notes, interest rate												4.50%								4.50%
Convertible senior notes, maturity date																				Aug. 1, 2024
Common stock initial conversion rate per $1,000 in principal amount											137.2213
Debt issuance costs			$ 8,000
Debt instrument term						4 years
Debt conversion to number of shares of common stock | shares											3,331,870
Principal amount of debt converted						$ 64,800
2024 Notes (2019 Issuance) | Semi Annual Payment, First payment date
Debt Instrument
Interest payment date on senior notes			--02-01
2024 Notes (2019 Issuance) | Semi Annual Payment, Second payment date
Debt Instrument
Interest payment date on senior notes			--08-01
2024 Notes (2020 Issuance)
Debt Instrument
Aggregate principal amount						$ 57,500						$ 57,500								$ 57,500
Convertible senior notes, interest rate						4.50%						4.50%								4.50%
Convertible senior notes, maturity date																				Aug. 1, 2024
Common stock initial conversion rate per $1,000 in principal amount																				160.3334
Convertible senior notes, initial conversion price per share | $ / shares		$ 5.67										$ 6.24								$ 6.24
Last reported sale price of common stock as a percent of conversion price		10.00%
Debt instrument repurchase percentage																				100.00%
Debt issuance costs						$ 900
Unamortized debt issuance costs derecognized	$ 1,400
Gain (loss) on extinguishment of debt	$ (27,300)
Debt conversion to number of shares of common stock | shares	15,112,848
Purchase of price of debt per $1000 principal amount						$ 1
2024 Notes (2020 Issuance) | Semi Annual Payment, First payment date
Debt Instrument
Interest payment date on senior notes																				--02-01
2024 Notes (2020 Issuance) | Semi Annual Payment, Second payment date
Debt Instrument
Interest payment date on senior notes																				--08-01
2025 Notes
Debt Instrument
Aggregate principal amount												$ 300,000				$ 300,000				$ 300,000	$ 300,000
Convertible senior notes, interest rate												1.25%								1.25%
Convertible senior notes, maturity date																				May 1, 2025
Borrowing Exceeds $166.5 million | Sixth Street Partners, LLC | Minimum
Debt Instrument
Quarterly payments based on a certain percentage of revenues																				$ 8,940
Borrowing Exceeds $166.5 million | Sixth Street Partners, LLC | Maximum
Debt Instrument
Quarterly payments with label portion expanded by FDA																				14,190
Scenario | Sixth Street Partners, LLC | Minimum
Debt Instrument
Borrowings under financing agreement												$ 166,500								$ 166,500

Debt - Convertible senior notes

Debt - Convertible senior notes (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended			3 Months Ended								12 Months Ended
	May 31, 2020	Jan. 31, 2020	Apr. 30, 2018	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Common shares issued in a public offering	11,090,000		1,837,898
Sale of stock, price per share	$ 8.05		$ 54.41
Loss on extinguishment of debt				$ 0	$ 0	$ 3,277	$ 0	$ 0	$ (18,480)	$ 0	$ 0	$ 3,277	$ (18,480)
Convertible Senior Unsecured Notes
Debt Instrument [Line Items]
Unamortized debt issuance costs				$ 8,700				$ 15,400				$ 8,700	$ 15,400
2024 Notes (2019 Issuance) | Direct registered offering
Debt Instrument [Line Items]
Common shares issued in a public offering		17,777,679
Sale of stock, price per share		$ 9.25
Principal amount of debt repurchase		$ 123,400
Unamortized debt issuance costs		3,600
Loss on extinguishment of debt		$ 7,800

Debt - Amounts outstanding conv

Debt - Amounts outstanding convertible senior notes (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Convertible notes including debt issuance costs	$ 507,700
Less debt issuance costs	(8,656)
Current portion	(64,198)
Long-term portion	434,846	$ 644,751
2021 Notes
Debt Instrument [Line Items]
Convertible notes including debt issuance costs	64,418
2024 Notes (both 2019 and 2020 Issuance)
Debt Instrument [Line Items]
Convertible notes including debt issuance costs	143,282
2025 Notes
Debt Instrument [Line Items]
Convertible notes including debt issuance costs	$ 300,000

Debt - Expected maturities of F

Debt - Expected maturities of Financing Agreement (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
2022	$ 8,934
2023	41,091
2024	45,532
2025	16,820
Expected maturities of financing agreement including debt issuance costs	112,377
Less debt issuance costs	(1,460)
Long-term portion	110,917	$ 34,991
Sixth Street Partners, LLC
Debt Instrument [Line Items]
Less debt issuance costs	$ (1,800)

Debt - Interest expense recogni

Debt - Interest expense recognized (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt
Interest on convertible notes									$ 11,934	$ 13,680	$ 9,812
Amortization of debt issuance costs									2,672	2,858	2,178
Debt issuance cost derecognized related to convertible debt transactions									4,345
Interest on finance lease									816	759
Interest on borrowings under ATHENA financing agreement									10,624	1,997
Accretion of interest on milestone liability											977
Interest on capital lease liability											216
Other interest									117	111
Total interest expense	$ 7,349	$ 6,859	$ 6,739	$ 9,561	$ 6,720	$ 5,278	$ 3,817	$ 3,590	$ 30,508	$ 19,405	$ 13,183

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended
	May 31, 2020USD ($)$ / sharesshares	Apr. 30, 2018USD ($)$ / sharesshares	Dec. 31, 2020USD ($)Vote	Dec. 31, 2018USD ($)
Stockholders' Equity
Common shares issued in a public offering | shares	11,090,000	1,837,898
Price per share in a public offering | $ / shares	$ 8.05	$ 54.41
Proceeds from offering | $	$ 82,800	$ 93,900	$ 246,668	$ 93,890
Number of votes per common share | Vote			1

Stockholders' Equity - Accumula

Stockholders' Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Loss
Beginning balance	$ (44,865)	$ (44,634)
Other comprehensive income (loss)	561	(231)
Total before tax	(44,304)	(44,865)
Tax effect	0	0
Ending balance	(44,304)	(44,865)	$ (44,634)
Reclassifications out of accumulated other comprehensive loss	0	0	0
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Loss
Beginning balance	(44,732)	(44,460)
Other comprehensive income (loss)	567	(272)
Total before tax	(44,165)	(44,732)
Tax effect	0	0
Ending balance	(44,165)	(44,732)	(44,460)
Unrealized (Losses) Gains
Accumulated Other Comprehensive Loss
Beginning balance	(133)	(174)
Other comprehensive income (loss)	(6)	41
Total before tax	(139)	(133)
Tax effect	0	0
Ending balance	$ (139)	$ (133)	$ (174)

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 31, 2011	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award
Share-based compensation expense, tax benefit recognized		$ 0	$ 0	$ 0
Closing stock price		$ 4.80
Stock options vested		$ 22,400	32,800	43,300
Stock-based compensation expense		50,794	$ 54,304	49,090
Common shares under stock incentive plans
Share Based Compensation Arrangement By Share Based Payment Award
Unrecognized stock-based compensation expense related to unvested stock options		$ 18,100
Unrecognized stock-based compensation expense related to non-vested options and/or RSUs, weighted-average remaining vesting period		1 year 6 months
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award
Unrecognized stock-based compensation expense related to unvested stock options		$ 33,600
Unrecognized stock-based compensation expense related to non-vested options and/or RSUs, weighted-average remaining vesting period		2 years 2 months 12 days
Weighted-average estimated grant date fair value of purchase awards under Purchase Plan		$ 28.85
2011 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award
Stock options expiration period		10 years
2011 Stock Incentive Plan | Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award
Stock vesting period					4 years
2011 Stock Incentive Plan | Vesting after year one | Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award
Stock vesting period					1 year
Percentage of grant vest contingent on approval					50.00%
2011 Stock Incentive Plan | Vesting after year two | Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award
Stock vesting period					2 years
Percentage of grant vest contingent on approval					50.00%
2011 Stock Incentive Plan | One year from date of grant | Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award
Stock vesting period					1 year
Percentage of grant vest contingent on approval					25.00%
2011 Stock Incentive Plan | End of the vesting period | Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award
Stock vesting period					3 years
Percentage of grant vest contingent on approval					75.00%
2011 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award
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		283,588	175,634
Shares of common stock remaining for future grant		361,656
Weighted-average estimated grant date fair value of purchase awards under Purchase Plan		$ 4.63	$ 6.60
Stock-based compensation expense		$ 1,100	$ 1,000	$ 900
2020 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award
Common stock shares authorized		647,000
Stock options expiration period		10 years
Minimum | Board of Directors | 2011 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award
Stock vesting period		1 year
Minimum | Board of Directors | 2020 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award
Stock vesting period		1 year
Maximum | Board of Directors | 2011 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award
Stock vesting period		3 years
Maximum | Board of Directors | 2020 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award
Stock vesting period		3 years
Employee Stock | 2011 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award
Stock vesting period		4 years
Employee Stock | 2011 Stock Incentive Plan | Vesting after year one
Share Based Compensation Arrangement By Share Based Payment Award
Percentage of grant vest contingent on approval		25.00%
Employee Stock | Minimum | 2020 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award
Stock vesting period		3 years
Employee Stock | Maximum | 2020 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award
Stock vesting period		4 years
Employee Stock three year vest | 2020 Stock Incentive Plan | Vesting after year one
Share Based Compensation Arrangement By Share Based Payment Award
Percentage of grant vest contingent on approval		33.00%
Employee Stock four year vest | 2020 Stock Incentive Plan | Vesting after year one
Share Based Compensation Arrangement By Share Based Payment Award
Percentage of grant vest contingent on approval		25.00%

Share-Based Compensation - Shar

Share-Based Compensation - Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-Based Compensation Expense Recognized in Accompanying Statements of Operations
Total Share-based compensation expense	$ 50,794	$ 54,304	$ 49,090
Research and development
Share-Based Compensation Expense Recognized in Accompanying Statements of Operations
Total Share-based compensation expense	25,577	25,838	20,489
Selling, general and administrative
Share-Based Compensation Expense Recognized in Accompanying Statements of Operations
Total Share-based compensation expense	$ 25,217	$ 28,466	$ 28,601

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Stock Options Activity (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)$ / sharesshares
Share-Based Compensation
Beginning Balance, Number of Options Outstanding | shares	6,287,025
Granted, Number of Options | shares	980,592
Exercised, Number of Options | shares	(117,932)
Forfeited, Number of Options | shares	(649,016)
Ending Balance, Number of Options Outstanding | shares	6,500,669
Vested and expected to vest, Number of Options Outstanding | shares	6,371,758
Vested and exercisable, Number of Options Outstanding | shares	5,026,455
Beginning Balance, Weighted Average Exercise Price | $ / shares	$ 42.24
Granted, Weighted Average Exercise Price | $ / shares	7.35
Exercised, Weighted Average Exercise Price | $ / shares	3.23
Forfeited, Weighted Average Exercise Price | $ / shares	41.15
Ending Balance, Weighted Average Exercise Price | $ / shares	37.79
Vested and expected to vest, Weighted Average Exercise Price | $ / shares	38.24
Vested and exercisable, Weighted Average Exercise Price | $ / shares	$ 43.87
Outstanding, Weighted Average Remaining Contractual Term (Years)	5 years 7 months 6 days
Vested and expected to vest, Weighted Average Remaining Contractual Term (Years)	5 years 6 months
Vested and exercisable, Weighted Average Remaining Contractual Term (Years)	4 years 8 months 12 days
Outstanding, Aggregate Intrinsic Value | $	$ 127
Vested and expected to vest, Aggregate Intrinsic Value | $	118
Vested and exercisable, Aggregate Intrinsic Value | $	$ 31

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-Based Compensation
Weighted-average grant date fair value per share	$ 5.67	$ 13.53	$ 32.09
Intrinsic value of options exercised	$ 381	$ 1,525	$ 1,714
Cash received from stock option exercises	$ 236	$ 1,361	$ 1,869

Share-Based Compensation - Weig

Share-Based Compensation - Weighted-Average Assumptions Used to Estimate Fair Value of Purchase Awards Granted (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award
Dividend yield	0.00%	0.00%	0.00%
Volatility	99.00%	93.00%	88.00%
Risk-free interest rate	0.49%	1.67%	2.92%
Expected term (years)	6 years	5 years 10 months 24 days	5 years 10 months 24 days
Employee Stock Purchase Plans
Share Based Compensation Arrangement By Share Based Payment Award
Dividend yield	0.00%	0.00%	0.00%
Volatility	138.00%	79.00%	51.00%
Risk-free interest rate	0.90%	2.20%	1.90%
Expected term (years)	6 months	6 months	6 months

Share-Based Compensation - RSUs

Share-Based Compensation - RSUs Activity (Details) - Restricted Stock Units (RSUs)	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award
Number of Units, Unvested as of Beginning Balance | shares	2,171,347
Number of Units, Granted | shares	2,441,804
Number of Units, Vested | shares	(1,012,699)
Number of Units, Forfeited | shares	(636,905)
Number of Units, Unvested as of Ending Balance | shares	2,963,547
Expected to vest after December 31, 2020 | shares	2,862,148
Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 28.37
Weighted Average Grant Date Fair Value, Granted | $ / shares	8.21
Weighted Average Grant Date Fair Value, Vested | $ / shares	28.85
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	15.51
Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	14.36
Weighted Average Grant Date Fair Value, Expected to vest after December 31, 2020 | $ / shares	$ 14.09

Share-Based Compensation - Rese

Share-Based Compensation - Reserved Shares of Common Stock for Future Issuance (Details)	Dec. 31, 2020shares
Share-Based Compensation Expense Recognized in Accompanying Statements of Operations
Common Stock Outstanding	9,464,216
Available for Grant or Future Issuance	6,310,938
Total Shares of Common Stock Reserved	15,775,154
2009 Equity Incentive Plan
Share-Based Compensation Expense Recognized in Accompanying Statements of Operations
Common Stock Outstanding	64,522
Available for Grant or Future Issuance	0
Total Shares of Common Stock Reserved	64,522
2011 Stock Incentive Plan
Share-Based Compensation Expense Recognized in Accompanying Statements of Operations
Common Stock Outstanding	8,878,976
Available for Grant or Future Issuance	0
Total Shares of Common Stock Reserved	8,878,976
2020 Stock Incentive Plan
Share-Based Compensation Expense Recognized in Accompanying Statements of Operations
Common Stock Outstanding	520,718
Available for Grant or Future Issuance	5,949,282
Total Shares of Common Stock Reserved	6,470,000
2011 Employee Stock Purchase Plan
Share-Based Compensation Expense Recognized in Accompanying Statements of Operations
Common Stock Outstanding	0
Available for Grant or Future Issuance	361,656
Total Shares of Common Stock Reserved	361,656

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Nov. 10, 2019plaintiff	Jun. 20, 2017patent	Mar. 31, 2017shareholder	Dec. 31, 2020USD ($)
Commitments and Contingencies
Purchase commitments | $				$ 68.1
Number of putative shareholders | shareholder			2
Number of patents in salt and polymorph patent family | patent		2
Number of opponents | plaintiff	1

License Agreements (Details)

License Agreements (Details) $ in Thousands

Dec. 19, 2016USD ($)

Aug. 30, 2016

Nov. 19, 2013USD ($)

Jun. 30, 2020USD ($)

Feb. 29, 2020item

Sep. 30, 2019USD ($)

Jun. 30, 2019USD ($)

Feb. 28, 2019USD ($)

Jun. 30, 2018USD ($)

Apr. 30, 2018USD ($)

Jun. 30, 2011USD ($)

Oct. 31, 2008

Dec. 31, 2020USD ($)

Sep. 30, 2020USD ($)

Jun. 30, 2020USD ($)

Mar. 31, 2020USD ($)

Dec. 31, 2019USD ($)

Sep. 30, 2019USD ($)

Jun. 30, 2019USD ($)

Mar. 31, 2019USD ($)

Mar. 31, 2017USD ($)

Dec. 31, 2020USD ($)

License Agreements

Acquired in-process research and development

$ 0

$ 0

$ 0

$ 0

$ 0

$ 9,440

$ 0

$ 0

Rucaparib

License Agreements

Milestone payments

$ 750

Rucaparib | EMA [Member]

License Agreements

Milestone payment obligation

$ 15,000

$ 20,000

Rucaparib | First approval of NDA by FDA

License Agreements

Milestone payment obligation

$ 15,000

Rucaparib | Third approval of Rubraca as monotherapy treatment

License Agreements

Milestone payments

$ 8,000

3B Pharmaceuticals

License Agreements

Percentage of Non-Royalty Consideration Payable on Sublicense Agreements

34.00%

License Agreements Licensor Pfizer | Rucaparib

License Agreements

Milestone payments

$ 23,000

$ 750

Milestone payment incurred as a result of government approval

$ 20,000

Deferred milestone payment

$ 23,000

Maximum number of months after FDA approval

18 months

18 months

License Agreements Licensor Pfizer | Rucaparib | Minimum

License Agreements

Annual sales target for sales milestone payments

$ 250,000

License Agreements Licensor Pfizer | Rucaparib | Maximum

License Agreements

Maximum potential future development, regulatory milestone payments

8,000

Additional maximum payments payable on attaining the sales target

$ 170,000

170,000

License Agreement Terms | 3B Pharmaceuticals

License Agreements

Acquired in-process research and development

$ 9,400

Number of additional undisclosed targets | item

3

Research and development expense

$ 2,100

Percentage Of Royalty On Net Sales

6.00%

License Agreement Terms | License Agreements Licensor Pfizer | Rucaparib

License Agreements

Upfront payment

$ 7,000

Milestones paid to Pfizer prior to FDA approval

$ 1,400

License Agreement Terms | Advenchen Laboratories LLC | License Agreements Lucitanib

License Agreements

Milestone payment obligation

$ 65,000

Percentage of Non-Royalty Consideration Payable on Sublicense Agreements

25.00%

Net Loss Per Common Share (Deta

Net Loss Per Common Share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded From Computation Of Earnings Per Share
Total potential dilutive shares	29,064	44,078	9,903
Common shares under stock incentive plans
Antidilutive Securities Excluded From Computation Of Earnings Per Share
Total potential dilutive shares	3,095	2,480	1,319
Convertible senior notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share
Total potential dilutive shares	25,969	41,598	8,584

Income Taxes - Loss Before Inco

Income Taxes - Loss Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes
Domestic									$ (370,839)	$ (399,497)	$ (368,402)
Foreign									1,080	871	1,001
Loss before income taxes	$ (99,382)	$ (78,694)	$ (92,283)	$ (99,400)	$ (97,017)	$ (94,425)	$ (120,603)	$ (86,581)	$ (369,759)	$ (398,626)	$ (367,401)

Income Taxes - Current and Defe

Income Taxes - Current and Deferred Tax Expenses (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current tax:
U.S. Federal & State									$ 50	$ 3	$ 15
Foreign									(597)	1,795	593
Total current expense (benefit)									(547)	1,798	608
Deferred tax:
U.S. Federal & State									0	0	0
Foreign									0	0	0
Total deferred (benefit)									0	0	0
Total income tax expense (benefit)	$ (425)	$ (18)	$ (36)	$ (68)	$ 2,484	$ (350)	$ (176)	$ (160)	$ (547)	$ 1,798	$ 608

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Federal Statutory Income Tax Rate to Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes
Federal income tax benefit at statutory rate	(21.00%)	(21.00%)	(21.00%)
State income tax benefit, net of federal benefit	(1.60%)	(2.90%)	(3.10%)
Tax credits	(1.50%)	(1.10%)	(1.30%)
Change in uncertain tax positions	0.10%	(4.30%)	0.10%
SEC settlement costs	0.00%	0.00%	1.10%
Convertible debt transactions	2.20%	0.00%	0.00%
Prior year true ups	0.90%	0.10%	(0.80%)
Share based compensation	2.60%	2.30%	0.80%
Tax rate changes	1.40%	0.10%	0.30%
Change in valuation allowance	16.10%	26.50%	23.20%
Other	0.60%	0.80%	0.90%
Effective income tax rate	(0.20%)	0.50%	0.20%

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Net operating loss carryforward	$ 414,932	$ 396,100
Tax credit carryforwards	247,064	243,901
Interest expense limitation carryforward	5,371	4,449
Intangible assets	94,558	61,459
Share-based compensation expense	33,169	34,006
Product acquisition costs	4,992	6,288
Lease liabilities	6,122	5,317
Accrued liabilities and other	7,488	5,817
Total deferred tax assets	813,696	757,337
Valuation allowance	(806,622)	(750,508)
Deferred tax assets, net of valuation allowance	7,074	6,829
Deferred tax liabilities:
Right -of -use assets	(6,799)	(6,337)
Prepaid expenses and other	(275)	(492)
Total deferred tax liabilities	(7,074)	(6,829)
Net deferred tax liability	$ 0	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes
Increase to valuation allowance	$ 56,100	$ 102,600
Unrecognized tax benefits	8,004	$ 7,525	$ 24,775
Net Operating loss carryforwards, subject to expiration	1,100
Net Operating loss carryforwards, not subject to expiration	600
Research and development and orphan drug tax credit carryforwards	254,500
Orphan drug tax credit	17,600
U.S. federal
Income Taxes
Net operating loss carryforwards	1,700,000
State
Income Taxes
Net operating loss carryforwards	1,600,000
Foreign Country
Income Taxes
Net operating loss carryforwards	$ 2,000,000
Minimum | U.S. federal
Income Taxes
Net operating loss carryforwards expiration year	2029
Minimum | State
Income Taxes
Net operating loss carryforwards expiration year	2024
Maximum | U.S. federal
Income Taxes
Net operating loss carryforwards expiration year	2037
Maximum | State
Income Taxes
Net operating loss carryforwards expiration year	2040

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns
Balance at beginning of year	$ 7,525	$ 24,775
Changes related to prior period tax positions	64	35
Additions related to current period tax positions	415	398
Settlements with tax authorities		17,613
Expiration of statute of limitations		0
Balance at end of year	$ 8,004	$ 7,525

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Employee Benefit Plans
Defined contribution plan, employer's contribution percentage	4.00%
United States
Employee Benefit Plans
Matching contributions to employees	$ 2.1	$ 2.2	$ 2
Foreign Defined Contribution Plan
Employee Benefit Plans
Matching contributions to employees	$ 1.5	$ 1.1	$ 0.9

Segment Information - Reportabl

Segment Information - Reportable segments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Product revenue	$ 43,299	$ 38,772	$ 39,887	$ 42,564	$ 39,307	$ 37,603	$ 32,978	$ 33,118	$ 164,522	$ 143,006	$ 95,388
Product revenue - extensible list	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Operating expenses:
Research and development	$ 56,706	$ 62,902	$ 69,878	$ 68,221	$ 72,473	$ 77,896	$ 70,746	$ 62,031	$ 257,707	$ 283,146	$ 231,347
Selling, general and administrative	40,758	38,636	41,902	42,598	45,168	41,811	48,029	47,761	163,894	182,769	175,781
Acquired in-process research and development										9,440
Other operating expenses	0	0	355	3,449	4,172	5,539	0	0	3,804	9,711
Total expenses	108,280	111,319	122,535	124,576	130,966	144,032	126,437	118,317	466,710	519,752	429,202
Operating loss	(64,981)	(72,547)	(82,648)	(82,012)	(91,659)	(106,429)	(93,459)	(85,199)	(302,188)	(376,746)	(333,814)
Product
Segment Reporting Information [Line Items]
Product revenue									164,500	143,000
Operating expenses:
Cost of sales - product	9,474	8,438	9,120	9,096	7,942	8,134	6,445	7,405	36,128	29,926	19,444
Intangible asset amortization
Operating expenses:
Cost of sales - product	$ 1,342	$ 1,343	$ 1,280	$ 1,212	$ 1,211	$ 1,212	$ 1,217	$ 1,120	5,177	4,760	2,630
U.S.
Segment Reporting Information [Line Items]
Product revenue									$ 146,259	$ 137,187	$ 95,388
Product revenue - extensible list									us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Operating expenses:
Research and development									$ 249,444	$ 275,518	$ 226,925
Selling, general and administrative									139,455	161,132	161,743
Acquired in-process research and development										9,440
Other operating expenses									3,804	9,711
Total expenses									424,516	485,936	410,066
Operating loss									(278,257)	(348,749)	(314,678)
U.S. | Product
Operating expenses:
Cost of sales - product									29,526	28,179	19,444
U.S. | Intangible asset amortization
Operating expenses:
Cost of sales - product									2,287	1,956	$ 1,954
ex U.S.
Segment Reporting Information [Line Items]
Product revenue									$ 18,263	$ 5,819
Product revenue - extensible list									us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Operating expenses:
Research and development									$ 8,263	$ 7,628	$ 4,422
Selling, general and administrative									24,439	21,637	14,038
Total expenses									42,194	33,816	19,136
Operating loss									(23,931)	(27,997)	(19,136)
ex U.S. | Product
Operating expenses:
Cost of sales - product									6,602	1,747
ex U.S. | Intangible asset amortization
Operating expenses:
Cost of sales - product									$ 2,890	$ 2,804	$ 676

Quarterly Information (Unaudi_3

Quarterly Information (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Product revenue	$ 43,299	$ 38,772	$ 39,887	$ 42,564	$ 39,307	$ 37,603	$ 32,978	$ 33,118	$ 164,522	$ 143,006	$ 95,388
Product revenue - extensible list	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Operating expenses:
Research and development	$ 56,706	$ 62,902	$ 69,878	$ 68,221	$ 72,473	$ 77,896	$ 70,746	$ 62,031	$ 257,707	$ 283,146	$ 231,347
Selling, general and administrative	40,758	38,636	41,902	42,598	45,168	41,811	48,029	47,761	163,894	182,769	175,781
Acquired in-process research and development	0	0	0	0	0	9,440	0	0
Other operating expenses	0	0	355	3,449	4,172	5,539	0	0	3,804	9,711
Total expenses	108,280	111,319	122,535	124,576	130,966	144,032	126,437	118,317	466,710	519,752	429,202
Operating loss	(64,981)	(72,547)	(82,648)	(82,012)	(91,659)	(106,429)	(93,459)	(85,199)	(302,188)	(376,746)	(333,814)
Other income (expense):
Interest expense	(7,349)	(6,859)	(6,739)	(9,561)	(6,720)	(5,278)	(3,817)	(3,590)	(30,508)	(19,405)	(13,183)
Foreign currency (loss) gain	30	633	142	(877)	100	(229)	(226)	(192)	(72)	(547)	(346)
(Loss) gain on extinguishment of debt	0	0	(3,277)	0	0	18,480	0	0	(3,277)	18,480
Loss on convertible senior notes conversion	(27,284)	0	0	(7,791)	0	0	0	0	(35,075)
Legal settlement loss	0	0	0	0	0	(1,750)	(25,000)	0		(26,750)	(27,975)
Other income	202	79	239	841	1,262	781	1,899	2,400	1,361	6,342	7,917
Other income (expense), net	(34,401)	(6,147)	(9,635)	(17,388)	(5,358)	12,004	(27,144)	(1,382)	(67,571)	(21,880)	(33,587)
Loss before income taxes	(99,382)	(78,694)	(92,283)	(99,400)	(97,017)	(94,425)	(120,603)	(86,581)	(369,759)	(398,626)	(367,401)
Income tax benefit (expense)	425	18	36	68	(2,484)	350	176	160	547	(1,798)	(608)
Net loss	$ (98,957)	$ (78,676)	$ (92,247)	$ (99,332)	$ (99,501)	$ (94,075)	$ (120,427)	$ (86,421)	$ (369,212)	$ (400,424)	$ (368,009)
Basic and diluted net loss per common share	$ (1.02)	$ (0.89)	$ (1.15)	$ (1.39)	$ (1.81)	$ (1.72)	$ (2.27)	$ (1.63)	$ (4.38)	$ (7.43)	$ (7.07)
Basic and diluted weighted average common shares outstanding	96,681	88,255	80,453	71,662	54,834	54,707	53,028	52,891	84,307	53,873	52,066
Product
Revenues:
Product revenue									$ 164,500	$ 143,000
Operating expenses:
Cost of sales	$ 9,474	$ 8,438	$ 9,120	$ 9,096	$ 7,942	$ 8,134	$ 6,445	$ 7,405	36,128	29,926	$ 19,444
Intangible asset amortization
Operating expenses:
Cost of sales	$ 1,342	$ 1,343	$ 1,280	$ 1,212	$ 1,211	$ 1,212	$ 1,217	$ 1,120	$ 5,177	$ 4,760	$ 2,630