Clovis Oncology (CLVSQ) 10-Q 9 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 04, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2022
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		144,955,263
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
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	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues:
Product revenue	$ 30,663	$ 37,916	$ 97,052	$ 112,789
Product revenue - extensible list	Product	Product	Product	Product
Operating expenses:
Research and development	$ 30,787	$ 46,222	$ 109,463	$ 144,786
Selling, general and administrative	30,380	32,196	92,183	95,055
Acquired in-process research and development		3,272		5,477
Other operating expenses	5,123	3,841	22,146	11,431
Total expenses	74,898	95,380	251,028	285,845
Operating loss	(44,235)	(57,464)	(153,976)	(173,056)
Other income (expense):
Interest expense	(9,863)	(8,786)	(28,637)	(25,593)
Foreign currency loss	(2,073)	(1,248)	(5,540)	(2,001)
Other income	192	101	511	392
Other income (expense), net	(11,744)	(9,933)	(33,666)	(27,202)
Loss before income taxes	(55,979)	(67,397)	(187,642)	(200,258)
Income tax (expense) benefit	(35)	(13)	127	125
Net loss	(56,014)	(67,410)	(187,515)	(200,133)
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax	932	415	2,525	349
Other comprehensive income (loss)	932	415	2,525	349
Comprehensive loss	$ (55,082)	$ (66,995)	$ (184,990)	$ (199,784)
Loss per basic and diluted common share:
Basic net loss per common share	$ (0.39)	$ (0.56)	$ (1.32)	$ (1.80)
Diluted net loss per common share	$ (0.39)	$ (0.56)	$ (1.32)	$ (1.80)
Basic weighted average common shares outstanding	144,625	121,217	142,312	111,377
Diluted weighted average common shares outstanding	144,625	121,217	142,312	111,377
Product
Operating expenses:
Cost of sales	$ 7,265	$ 8,506	$ 23,207	$ 25,068
Intangible asset amortization
Operating expenses:
Cost of sales	$ 1,343	$ 1,343	$ 4,029	$ 4,028

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 58,320	$ 143,428
Accounts receivable, net	19,453	26,868
Inventories, net	11,419	13,688
Prepaid research and development expenses	5,032	2,397
Other current assets	7,985	11,706
Total current assets	102,209	198,087
Inventories	91,635	109,848
Property and equipment, net	4,851	6,554
Right-of-use assets, net	16,664	19,109
Intangible assets, net	56,343	60,371
Goodwill	63,074	63,074
Other assets	11,999	15,790
Total assets	346,775	472,833
Current liabilities:
Accounts payable	18,123	27,308
Accrued research and development expenses	23,375	35,121
Lease liabilities	3,454	3,414
Convertible senior notes	438,320
Borrowings under financing agreement	222,055	8,500
Other accrued expenses	42,543	50,871
Total current liabilities	747,870	125,214
Long-term lease liabilities - less current portion	16,791	19,731
Convertible senior notes		436,772
Borrowings under financing agreement - less current portion		169,956
Total liabilities	764,661	751,673
Commitments and contingencies (Note 14)
Stockholders' equity:
Preferred stock, par value $0.001 per share; 10,000,000 shares authorized, no shares issued and outstanding at September 30, 2022 and December 31, 2021
Common stock, $0.001 par value per share, 200,000,000 shares authorized at September 30, 2022 and December 31, 2021; 144,804,422 and 129,109,543 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	145	129
Additional paid-in capital	2,687,640	2,641,712
Accumulated other comprehensive loss	(40,905)	(43,430)
Accumulated deficit	(3,064,766)	(2,877,251)
Total stockholders' deficit	(417,886)	(278,840)
Total liabilities and stockholders' deficit	$ 346,775	$ 472,833

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
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	144,804,422	129,109,543
Common stock, shares outstanding	144,804,422	129,109,543

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Total
Beginning Balance at Dec. 31, 2020	$ 104	$ 2,498,179	$ (44,304)	$ (2,612,727)	$ (158,748)
Beginning Balance (in shares) at Dec. 31, 2020	103,699,109
Exercise of stock options		27			27
Exercise of stock options (in shares)	5,609
Issuance of common stock from vesting of restricted stock units	$ 1	(1)
Issuance of common stock from vesting of restricted stock units (in shares)	853,239
Share-based compensation expense		4,039			4,039
Foreign currency translation adjustments			(80)		(80)
Net loss				(66,277)	(66,277)
Ending Balance at Mar. 31, 2021	$ 105	2,502,244	(44,384)	(2,679,004)	(221,039)
Ending Balance (in shares) at Mar. 31, 2021	104,557,957
Beginning Balance at Dec. 31, 2020	$ 104	2,498,179	(44,304)	(2,612,727)	(158,748)
Beginning Balance (in shares) at Dec. 31, 2020	103,699,109
Foreign currency translation adjustments					349
Net loss					(200,133)
Ending Balance at Sep. 30, 2021	$ 128	2,631,228	(43,955)	(2,812,862)	(225,461)
Ending Balance (in shares) at Sep. 30, 2021	127,973,007
Beginning Balance at Mar. 31, 2021	$ 105	2,502,244	(44,384)	(2,679,004)	(221,039)
Beginning Balance (in shares) at Mar. 31, 2021	104,557,957
Exercise of stock options		9			9
Exercise of stock options (in shares)	1,478
Issuance of common stock, net of issuance costs	$ 13	72,459			72,472
Issuance of common stock, net of issuance costs (in shares)	13,492,231
Issuance of common stock from vesting of restricted stock units (in shares)	193,936
Issuance of common stock under employee stock purchase plan		647			647
Issuance of common stock under employee stock purchase plan (in shares)	158,382
Share-based compensation expense		7,362			7,362
Foreign currency translation adjustments			14		14
Net loss				(66,448)	(66,448)
Ending Balance at Jun. 30, 2021	$ 118	2,582,721	(44,370)	(2,745,452)	(206,983)
Ending Balance (in shares) at Jun. 30, 2021	118,403,984
Issuance of common stock, net of issuance costs	$ 9	41,506			41,515
Issuance of common stock, net of issuance costs (in shares)	9,379,976
Issuance of common stock from vesting of restricted stock units	$ 1				1
Issuance of common stock from vesting of restricted stock units (in shares)	189,047
Share-based compensation expense		7,001			7,001
Foreign currency translation adjustments			415		415
Net loss				(67,410)	(67,410)
Ending Balance at Sep. 30, 2021	$ 128	2,631,228	(43,955)	(2,812,862)	(225,461)
Ending Balance (in shares) at Sep. 30, 2021	127,973,007
Beginning Balance at Dec. 31, 2021	$ 129	2,641,712	(43,430)	(2,877,251)	$ (278,840)
Beginning Balance (in shares) at Dec. 31, 2021	129,109,543				129,109,543
Issuance of common stock, net of issuance costs	$ 14	28,622			$ 28,636
Issuance of common stock, net of issuance costs (in shares)	13,870,410
Issuance of common stock from vesting of restricted stock units	$ 1	(1)
Issuance of common stock from vesting of restricted stock units (in shares)	889,273
Share-based compensation expense		6,632			6,632
Foreign currency translation adjustments			435		435
Net loss				(60,169)	(60,169)
Ending Balance at Mar. 31, 2022	$ 144	2,676,965	(42,995)	(2,937,420)	(303,306)
Ending Balance (in shares) at Mar. 31, 2022	143,869,226
Beginning Balance at Dec. 31, 2021	$ 129	2,641,712	(43,430)	(2,877,251)	$ (278,840)
Beginning Balance (in shares) at Dec. 31, 2021	129,109,543				129,109,543
Foreign currency translation adjustments					$ 2,525
Net loss					(187,515)
Ending Balance at Sep. 30, 2022	$ 145	2,687,640	(40,905)	(3,064,766)	$ (417,886)
Ending Balance (in shares) at Sep. 30, 2022	144,804,422				144,804,422
Beginning Balance at Mar. 31, 2022	$ 144	2,676,965	(42,995)	(2,937,420)	$ (303,306)
Beginning Balance (in shares) at Mar. 31, 2022	143,869,226
Issuance of common stock from vesting of restricted stock units (in shares)	347,079
Issuance of common stock under employee stock purchase plan		392			392
Issuance of common stock under employee stock purchase plan (in shares)	256,428
Share-based compensation expense		5,402			5,402
Foreign currency translation adjustments			1,158		1,158
Other financing costs		(9)			(9)
Net loss				(71,332)	(71,332)
Ending Balance at Jun. 30, 2022	$ 144	2,682,750	(41,837)	(3,008,752)	(367,695)
Ending Balance (in shares) at Jun. 30, 2022	144,472,733
Issuance of common stock from vesting of restricted stock units	$ 1				1
Issuance of common stock from vesting of restricted stock units (in shares)	331,689
Share-based compensation expense		4,890			4,890
Foreign currency translation adjustments			932		932
Net loss				(56,014)	(56,014)
Ending Balance at Sep. 30, 2022	$ 145	$ 2,687,640	$ (40,905)	$ (3,064,766)	$ (417,886)
Ending Balance (in shares) at Sep. 30, 2022	144,804,422				144,804,422

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities
Net loss	$ (187,515)	$ (200,133)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation expense	16,924	18,402
Depreciation and amortization	5,714	6,498
Amortization of debt issuance costs	1,685	1,876
Allowance for excess inventory	11,209
Other	1,120	1,300
Changes in operating assets and liabilities:
Accounts receivable	5,468	399
Inventory	14,068	8,988
Prepaid and accrued research and development expenses	(12,337)	164
Other operating assets and liabilities	3,058	(4,210)
Accounts payable	(8,313)	(2,828)
Other accrued expenses	14,687	14,830
Net cash used in operating activities	(134,232)	(154,714)
Investing activities
Purchases of property and equipment	(197)	(243)
Net cash used in investing activities	(197)	(243)
Financing activities
Proceeds from sale of common stock, net of issuance costs	28,628	113,988
Payment of convertible senior notes		(64,418)
Proceeds from borrowings under financing agreement	24,159	37,730
Proceeds from the exercise of stock options and employee stock purchases	392	683
Payments on finance leases		(780)
Payments on other long-term liabilities		(213)
Net cash provided by financing activities	53,179	86,990
Effect of exchange rate changes on cash and cash equivalents	(3,858)	(313)
Decrease in cash and cash equivalents	(85,108)	(68,280)
Cash and cash equivalents at beginning of period	143,428	240,229
Cash and cash equivalents at end of period	58,320	171,949
Supplemental disclosure of cash flow information:
Cash paid for interest	8,323	9,196
Non-cash investing and financing activities:
Vesting of restricted stock units	$ 2,680	$ 9,193

Nature of Business

Nature of Business	9 Months Ended
	Sep. 30, 2022
Nature of Business
Nature of Business	1. Nature of Business ​ Clovis Oncology, Inc. (together with its consolidated subsidiaries, the “Company,” “Clovis,” “we,” “our,” “us”) is 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. We have in-licensed or acquired rights to oncology compounds in all stages of development. In exchange for the right to develop and commercialize these compounds, we have provided the licensor with a combination of upfront payments, milestone payments and royalties on future sales. In addition, we have assumed the responsibility for future drug development and commercialization costs. We currently operate in two segments. Since inception, our operations have consisted primarily of developing in-licensed compounds, evaluating new product acquisition candidates and general corporate activities and since 2016 we have also marketed and sold products. ​ Our marketed product Rubraca ® BRCA ​ In May 2020, the FDA approved Rubraca for the treatment of adult patients with mCRPC associated with a deleterious BRCA ​ 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 BRCA ​ Beyond our labeled indications, we continue to evaluate Rubraca in the ATHENA Phase 3 study under a clinical collaboration with Bristol Myers Squibb Company (“Bristol Myers Squibb”) to evaluate its immunotherapy OPDIVO® (nivolumab) in combination with Rubraca in front-line ovarian cancer maintenance treatment. ​ On March 31, 2022, we announced positive top-line data from the monotherapy portion of the ATHENA (GOG 3020/ENGOT-ov45) trial (ATHENA-MONO) demonstrating that Rubraca as maintenance treatment successfully achieved the primary endpoint of significantly improved investigator-assessed progression-free survival (“PFS”) compared with placebo. Benefit was observed in both primary efficacy analyses of newly-diagnosed patients with advanced ovarian cancer following successful treatment with platinum-based chemotherapy: those who had homologous recombination deficiency (HRD-positive), including deleterious BRCA BRCA BRCA BRCA BRCA ​ Based on the results of ATHENA-MONO, we submitted a supplemental New Drug Application (“sNDA”) to the FDA and a Type II variation to the European Medicines Agency (“EMA”) for a first-line maintenance treatment indication for women with advanced ovarian cancer who have responded to first-line platinum-based chemotherapy in August 2022. In early May 2022, the FDA recommended that we should not submit the first line maintenance sNDA until overall survival (“OS”) data from the ATHENA-MONO trial are as much as 50% mature, and if we do choose to submit prior to that, we should expect the FDA to require a discussion at an Oncologic Drugs Advisory Committee (“ODAC”) meeting in connection with its review of such sNDA submission. In addition, the FDA will consider OS data from other rucaparib clinical trials when it reviews the ATHENA-MONO dataset. On November 4, 2022, we received from the FDA the Day-74 letter, which notifies an applicant of issues identified during the filing review phase. The letter confirmed that the sNDA has been accepted for a standard review with a PDUFA date of June 25, 2023. The FDA reiterated that the current OS data from the ATHENA-MONO trial are immature and expressed the view that the current trends of certain OS HR estimates indicate that there may be potential harm for patients in certain sub-groups. The OS data submitted in the sNDA application were immature at 15.8% (HRD) and 24.7% (ITT) with no statistically significant differences between rucaparib and control. Our initial estimates suggest that we would reach 50% maturity in approximately 1.5 years. The FDA further indicated that PFS improvement alone may not be sufficient to support an overall positive benefit-risk assessment in a maintenance treatment setting, as, in the FDA’s opinion, Rubraca is adding toxicity during a time when patients would otherwise not be on any treatment. While the letter did not refer to an ODAC, there can be no assurances regarding whether an ODAC will be scheduled, or the timing or outcome of the FDA review of the sNDA submission and the timing or outcome of the EMA review of the Type II variation submission. ​ The timing for the Phase 3 data readouts from the ATHENA-COMBO trial is contingent upon the occurrence of the protocol-specified PFS events, currently estimated to occur in the fourth quarter of 2023. ​ We hold worldwide rights to Rubraca. ​ FAP-2286 is our initial product candidate to emerge from our targeted radionuclide collaboration with 3B Pharmaceuticals GmbH (“3BP”). FAP-2286 is a peptide-targeted radionuclide therapy (“PTRT”) and imaging agent targeting fibroblast activation protein (“FAP”). PTRT uses cancer cell-targeting peptides to deliver radiation-emitting radionuclides specifically to tumors. Following the clearance by the FDA of two INDs submitted in December 2020 to support the use of FAP-2286 as an imaging and treatment agent, we initiated the Phase 1 portion of the LuMIERE clinical study in June 2021. LuMIERE is a Phase 1/2 study of FAP-2286 labeled with lutetium-177 ( 177 68 ​ We presented Phase 1 clinical data from LuMIERE in an oral presentation at the Society of Nuclear Medicine & Molecular Imaging (“SNMMI”) 2022 Annual Meeting in June. In October 2022, we presented updated Phase 1 clinical data from LuMIERE at the 35th Annual European Association of Nuclear Medicine (“EANM”) Congress. In addition to investigating for therapeutic use FAP-2286 labeled with the beta particle-emitting lutetium-177, we are also exploring FAP-2286 labeled with the alpha particle-emitting actinium-225 (Ac-225). ​ We hold US 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 have global rights for any resulting product candidates. ​ Lucitanib, another of our small molecule product candidates, 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 ® ® ​ We hold the global (excluding China) development and commercialization rights for lucitanib. ​ Going Concern and Management Plans ​ We require significant cash resources to execute our business plans. Based on our current cash and cash equivalents, together with current estimates for revenues to be generated by sales of Rubraca, we will not have sufficient liquidity to maintain our operations beyond January 2023. Given the recent regulatory developments that may have significant impact on current revenues and the commercial potential of Rubraca and the continuing challenges we face in raising additional capital, including as a result of the uncertain market potential of Rubraca, a potential bankruptcy filing in the very near term looks increasingly probable as a way to preserve the value of our business and assets for the benefit of our stakeholders, as further described below, though we continue to evaluate our strategic options and continue to discuss in and out of bankruptcy financing options with our creditors and other parties. ​ We have incurred significant net losses since inception and have relied, almost entirely, on debt and equity financings to fund our operations. We expect operating losses and negative cash flows to continue for the foreseeable future even with Rubraca generating revenues. Rubraca revenues have not been consistent in prior quarters and have been trending downward during the past two years, initially as a result of the impact of COVID-19 pandemic on patient visits and diagnoses, but more recently primarily as a result of competition from other products on the market, including the impact on second-line maintenance that may result from an increase in first-line maintenance treatment of ovarian cancer (indications for which competing products are approved). ​ Moreover, over the past few months, a new focus by the FDA and the EMA on mature OS data for drugs previously approved based on achieving PFS as a primary endpoint has led to withdrawals of certain later line indications in ovarian cancer for Rubraca and each of the other PARP inhibitors on the market with a later line treatment indication in ovarian cancer. In addition, FDA had scheduled an ODAC meeting in November 2022 to review another PARP-inhibitor, Zejula (niraparib) (GlaxoSmithKline (“GSK”)), to seek advice on whether its second-line maintenance indication in ovarian cancer should be withdrawn from the labeling on the basis of the final OS data from the trial that supported approval for Zejula in that indication. In late October 2022, the FDA cancelled that ODAC meeting, indicating that it was no longer necessary. While neither the FDA nor GSK have publicly stated the reason for cancelation of the meeting, if the outcome of discussions between the FDA and GSK is a withdrawal or narrowing of that indication, we cannot assure you that the FDA would not seek to similarly limit our second line maintenance indication in ovarian cancer. As a substantial portion of our Rubraca revenue is attributable to that indication, we would expect that a limiting of our second line maintenance indication could result in a significant impact on our revenue, although the timing and magnitude of such impact is not currently ascertainable. This focus by the FDA on OS data has created uncertainty with respect to the timing, likelihood and scope of an approval for the sNDA we filed with the FDA, and may result in uncertainty with respect to the Type II variation we filed with the EMA, for first-line maintenance treatment indication in ovarian cancer, which we had been planning on to finally level the competitive landscape with our two competitors that have existing and established labels in the first-line maintenance treatment indication setting. ​ This new regulatory framework has created an uncertain commercial landscape for Rubraca (and to a certain extent, other PARP inhibitors) and has impacted the perceived market opportunity and revenue potential for Rubraca (and to a certain extent, other PARP inhibitors). ​ We require significant cash resources to execute our business plans, and our revenues are a significant portion of those cash resources. Based on our current cash and cash equivalents, together with current estimates for revenues to be generated by sales of Rubraca, we must raise additional capital in the near term in order to fund our operating plan and to continue as a going concern beyond January 2023. ​ It appears increasingly unlikely that additional funding will be available on acceptable terms or at all outside of a Chapter 11 bankruptcy process. Our ability to raise capital is severely limited. We have not been able to access the equity capital markets that we have traditionally relied on in sufficient amount to fund our operating plan given our low stock price over the past six months and the generally unfavorable market conditions, particularly in the biopharma sector. Also, we only have a small number of unissued shares of common stock that we are authorized to issue, and once again this year our stockholders did not approve an amendment to our certificate of incorporation to increase our authorized capital stock. Given our current circumstances, it is highly unlikely that we will be able to access our previously established “at-the-market” offering program (“ATM Program”) in the near future. ​ In light of our inability to raise sufficient capital through equity offerings (or offerings of securities convertible into equity securities), we are considering other sources of funding, potentially through incurring further indebtedness or entering into strategic partnerships or licensing arrangements for one or more of our products or product candidates in which we may have to give up certain of our future commercialization or other rights to obtain interim funding. During the past quarter, we advanced our previously announced efforts to explore our strategic options, including identifying potential partners and/or purchasers for our products and development programs. We are in active discussions on a potential sub-licensing arrangement for Rubraca outside the US, but the regulatory uncertainty around our ability to obtain a more competitive label for Rubraca has made it more difficult to reach agreement on financial terms and on timing of a transaction. Additionally, we are also in active discussions for a sale of our license rights to FAP-2286, for which we seek consideration such as an upfront payment and additional payments in the form of milestones and research and development support. However, we expect that a significant portion of the consideration in both transactions would be contingent on future events. No assurances can be made that we will be successful in reaching agreement or entering into such potential transactions, or that if we do enter into a definitive agreement, that the timing and amounts of such payments, including contingent payments, would be sufficient to meet our liquidity needs in the absence of other sources of funding. These discussions have also been hampered by concerns raised by these potential partners and purchasers about our liquidity position and ability to continue as a going concern. ​ During the past quarter, we have also continued to aggressively manage our expenses. We implemented a workforce reduction in the US on November 7, 2022 consisting of 115 employees, which we anticipate will yield annual cost savings of approximately $29 million per year (excluding one-time severance costs of $4.0 million related to such terminations), but the full impact of those cost savings will not be realized until 2023. We have also reduced discretionary selling, general, and administrative and research and development expenses. We have engaged financial, restructuring, and legal advisors to assist us in, among other things, analyzing various strategic alternatives to address our liquidity and capital structure. ​ During the quarter, we also engaged in further discussions and negotiations with certain of our existing creditors, lenders and vendors to defer certain of our obligations and/or to loan us additional funds to bridge our cash requirements until we can reach definitive agreements on our partnering and sale of assets transactions and potentially to a further point until we have greater clarity from the FDA and EMA on the potential to receive approval for first-line maintenance treatment for Rubraca in the second quarter of 2023. However, we have not been able to reach agreement on such additional financing on terms that we view as reasonable and preserves the value of our assets and business for the benefit of all our relevant stakeholders. We did however elect to not make the interest payment in the amount of $1.9 million in respect of our 1.25% Convertible Senior Notes due 2025 that was due on November 1, 2022. Under the indenture governing these notes, we have a 30-day strategic alternatives. Separately, we are in discussions with Pfizer, Inc. to defer certain royalty payments due under our in-license agreement in respect of sales of Rubraca during the quarter ended September 30, 2022 in the amount of $4.3 million and the quarter ending December 31, 2022 until March 31, 2023, plus interest thereon from the date such payments would otherwise be payable under the license agreement until actually paid. ​ The aforementioned factors, which are largely outside of our control, raise substantial doubt about our ability to continue as a going concern in the near term, and certainly within one year from the date of filing of this quarterly report. Given the concerns about our long term viability raised by our partners and potential purchasers of our assets and the high cost and what we view as unreasonable terms of the additional debt financing that may be available to us, a Chapter 11 bankruptcy filing in the very near term, while we have sufficient cash on hand and/or access to debtor in possession financing to be able to implement an orderly restructuring of our liabilities and/or a sale of our assets through a court supervised process, looks increasingly probable. We also believe, however, that such a path may be the best way to preserve the value of our business and assets for the benefit of our stakeholders. Such a filing would subject us to risks and uncertainties associated with bankruptcy proceedings, and may place holders of our common stock at significant risk of losing all of their investment in our shares. However, together with our financial and restructuring advisors, we continue to evaluate our strategic options and continue to discuss in and out of bankruptcy financing options with our creditors and other parties. ​ Basis of Presentation ​ All financial information presented includes the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. ​ The unaudited financial statements of Clovis Oncology, Inc. included herein reflect all adjustments that, in the opinion of management, are necessary to fairly state our financial position, results of operations and cash flows for the periods presented herein. Interim results may not be indicative of the results that may be expected for the full year. Certain information and footnote disclosures normally included in audited financial statements prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) have been condensed or omitted pursuant to the rules and regulations of the US Securities and Exchange Commission (“SEC”). These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto which are included in our 2021 Form 10-K for a broader discussion of our business and the opportunities and risks inherent in such business. ​ Use of Estimates ​ The preparation of financial statements in conformity with US 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies ​ Recently Adopted Accounting Standards ​ 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 adopted this guidance on January 1, 2022, and there was no material impact on our consolidated financial statements and related disclosures. ​ Revenue Recognition ​ We are currently approved to sell Rubraca in the United States and European 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. ​ 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 ​ 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. ​ Accounts Receivable ​ We provide an allowance for credit losses based on experience and specifically identified risks. Accounts receivable is 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 the 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 five 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 five 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 an operating expense. 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. ​ For the three and nine months ended September 30, 2022, we recognized $1.5 million and $11.2 million, respectively, related to an increase in our allowance for excess inventory. We analyzed our current inventory levels for excess quantities and obsolescence (expiration) and considered historical and anticipated future sales compared to quantities on hand and the remaining shelf-life of Rubraca. After considering these factors, we determined that these finished goods are likely to expire before we can sell them. ​ 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 production train at Lonza are included in Other Operating Expenses on 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. ​ Segment Information ​ We have two operating and reportable segments, US and ex-US, based on product revenue by geographic areas. 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. ​ Our other significant accounting policies are described in Note 2, Summary of Significant Accounting Policies

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Financial Instruments and Fair Value Measurements
Financial Instruments and Fair Value Measurements	3. Financial Instruments and 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. We do not have Level 2 assets or 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 and liabilities that were measured at fair value on a recurring basis (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance Level 1 Level 2 Level 3 September 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market investments ​ $ 13,135 ​ $ 13,135 ​ $ — ​ $ — ​ Total assets at fair value ​ $ 13,135 ​ $ 13,135 ​ $ — ​ $ — ​ December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market investments ​ $ 72,934 ​ $ 72,934 ​ $ — ​ $ — ​ Total assets at fair value ​ $ 72,934 ​ $ 72,934 ​ $ — ​ $ — ​ ​ There were no liabilities that were measured at fair value on a recurring basis as of September 30, 2022 and December 31, 2021. ​ Financial instruments not recorded at fair value include our convertible senior notes. At September 30, 2022, the carrying amount of the 2024 Notes (2019 Issuance) was $84.8 million, which represents the aggregate principal amount net of remaining debt issuance costs, and the fair value was $55.9 million. At September 30, 2022, the carrying amount of the 2024 Notes (2020 Issuance) was $57.0 million, which represents the aggregate principal amount net of remaining debt issuance costs, and the fair value was $36.0 million. At September 30, 2022, the carrying amount of the 2025 Notes was $296.5 million, which represents the aggregate principal amount net of remaining debt issuance costs, and the fair value was $202.2 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 9, Debt

Inventories

Inventories	9 Months Ended
	Sep. 30, 2022
Inventories
Inventories	4. Inventories ​ The following table presents inventories as of September 30, 2022 and December 31, 2021 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2022 2021 Work-in-process $ 78,662 $ 85,084 Finished goods, net ​ 34,542 ​ 38,619 Allowance for excess inventory ​ ​ (10,150) ​ ​ (167) Total inventories $ 103,054 $ 123,536 ​

Other Current Assets

Other Current Assets	9 Months Ended
	Sep. 30, 2022
Other Current Assets
Other Current Assets	5. Other Current Assets ​ Other current assets were comprised of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2022 2021 Prepaid insurance ​ $ 1,438 ​ $ 794 ​ Prepaid IT ​ ​ 1,040 ​ ​ 769 ​ Prepaid variable considerations ​ ​ 418 ​ ​ 1,336 ​ Prepaid expenses - other ​ 1,802 ​ 1,936 ​ Value-added tax ("VAT") receivable ​ ​ 1,468 ​ ​ 4,307 ​ Receivable - other ​ 1,698 ​ 2,499 ​ Other ​ 121 ​ 65 ​ Total ​ $ 7,985 ​ $ 11,706 ​ ​

Intangible Assets and Goodwill

Intangible Assets and Goodwill	9 Months Ended
	Sep. 30, 2022
Intangible Assets and Goodwill
Intangible Assets and Goodwill	6. Intangible Assets and Goodwill ​ Intangible assets related to capitalized milestones under license agreements consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2022 2021 Intangible asset - milestones ​ $ 79,850 ​ $ 79,850 Accumulated amortization ​ (23,507) ​ (19,479) Total intangible asset, net ​ $ 56,343 ​ $ 60,371 ​ ​ 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 US. ​ We recorded amortization expense of $1.3 million and $4.0 million related to capitalized milestone payments during the three and nine months ended September 30, 2022, respectively. We recorded amortization expense of $1.3 million and $4.0 million related to capitalized milestone payments during the three and nine months ended September 30, 2021, 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 associated with intangibles is expected to be as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ 2022 (remaining three months) ​ ​ ​ ​ $ 1,343 2023 ​ ​ ​ ​ ​ 5,371 2024 ​ ​ ​ ​ ​ 5,371 2025 ​ ​ ​ ​ ​ 5,371 2026 ​ ​ ​ ​ ​ 5,371 Thereafter ​ ​ ​ ​ ​ 33,516 ​ ​ ​ ​ ​ $ 56,343 ​ The financial statements are not prepared on a liquidation basis. If we are not able to raise additional capital in the near term and we file bankruptcy, it is likely that the fair value of the enterprise will decrease, which could result in the impairment of recorded long-term asset values, including goodwill. ​ ​

Other Accrued Expenses

Other Accrued Expenses	9 Months Ended
	Sep. 30, 2022
Other Accrued Expenses
Other Accrued Expenses	7. Other Accrued Expenses ​ Other accrued expenses were comprised of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2022 2021 Accrued personnel costs ​ $ 14,685 ​ $ 15,714 ​ Accrued interest payable for convertible senior notes ​ 734 ​ 3,283 ​ Income tax payable ​ ​ 581 ​ ​ 1,579 ​ Accrued corporate legal fees and professional services ​ ​ 535 ​ ​ 141 ​ Accrued royalties ​ ​ 4,644 ​ ​ 5,463 ​ Accrued variable considerations ​ ​ 17,227 ​ ​ 17,211 ​ Accrued legal settlement loss ​ ​ — ​ ​ 2,325 ​ Accrued expenses - other ​ 4,137 ​ 5,155 ​ Total ​ $ 42,543 ​ $ 50,871 ​ ​

Leases

Leases	9 Months Ended
	Sep. 30, 2022
Leases
Leases	8. Leases ​ At the inception of an arrangement, we determine whether the arrangement is or contains a lease based on the unique facts and circumstances. 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 US 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. ​ Prior to June 30, 2021, we had a finance lease and operating lease for certain equipment at the production train at Lonza, our non-exclusive manufacturer of the Rubraca API. Pursuant to the terms of Amendment 2 discussed in Note 14, Commitments and Contingencies ​ The components of lease expense and related cash flows were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Three months ended September 30, ​ 2022 2021 Lease cost ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ $ — ​ $ — Interest on lease liabilities ​ — ​ — Operating lease cost ​ 1,185 ​ 1,342 Short-term lease cost ​ 72 ​ 81 Variable lease cost ​ ​ 608 ​ ​ 476 Total lease cost ​ $ 1,865 ​ $ 1,899 ​ ​ ​ ​ ​ ​ ​ Operating cash flows from finance leases ​ $ — ​ $ — Operating cash flows from operating leases ​ $ 1,185 ​ $ 1,342 Financing cash flows from finance leases ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, ​ Nine months ended September 30, ​ 2022 2021 Lease cost ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ $ — ​ $ 947 Interest on lease liabilities ​ — ​ 363 Operating lease cost ​ 3,607 ​ 3,875 Short-term lease cost ​ 224 ​ 241 Variable lease cost ​ ​ 1,885 ​ ​ 1,640 Total lease cost ​ $ 5,716 ​ $ 7,066 ​ ​ ​ ​ ​ ​ ​ Operating cash flows from finance leases ​ $ — ​ $ 363 Operating cash flows from operating leases ​ $ 3,607 ​ $ 3,875 Financing cash flows from finance leases ​ $ — ​ $ 780 ​ The weighted-average remaining lease term and weighted-average discount rate were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 September 30, 2021 ​ Weighted-average remaining lease term (years) ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 5.2 ​ ​ 6.1 ​ Finance leases ​ ​ N/A ​ ​ N/A ​ Weighted-average discount rate ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 8% ​ ​ 8% ​ Finance leases ​ ​ N/A ​ ​ N/A ​ ​ Future minimum commitments due under these lease agreements as of September 30, 2022 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ ​ 2022 (remaining three months) ​ 1,353 ​ 2023 ​ 4,863 ​ 2024 ​ 4,550 ​ 2025 ​ ​ 4,700 ​ ​ 2026 ​ ​ 4,829 ​ ​ Thereafter ​ 4,621 ​ Present value adjustment ​ ​ (4,671) ​ ​ Present value of lease payments ​ $ 20,245 ​ ​ ​

Debt

Debt	9 Months Ended
	Sep. 30, 2022
Debt
Debt	9. Debt ​ The following is a summary of our convertible senior notes at September 30, 2022 and December 31, 2021 (principal amount in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Principal Amount ​ Principal Amount ​ ​ ​ ​ ​ Conversion rate per $1,000 ​ ​ September 30, 2022 ​ December 31, 2021 ​ Interest Rate ​ Maturity Date ​ principal amount (shares) 2024 Notes (2019 Issuance) ​ 85,782 ​ 85,782 ​ 4.50% ​ August 1, 2024 ​ 137.2213 2024 Notes (2020 Issuance) ​ ​ 57,500 ​ ​ 57,500 ​ 4.50% ​ August 1, 2024 ​ 160.3334 2025 Notes ​ 300,000 ​ 300,000 ​ 1.25% ​ May 1, 2025 ​ 13.1278 Total ​ ​ 443,282 ​ ​ 443,282 ​ ​ ​ ​ ​ ​ Unamortized debt issuance costs ​ ​ (4,962) ​ ​ (6,510) ​ ​ ​ ​ ​ ​ Convertible senior notes ​ $ 438,320 ​ $ 436,772 ​ ​ ​ ​ ​ ​ ​ Our convertible senior notes are governed by the terms of their respective indentures between the Company, as issuer, and The Bank of New York Mellon Trust Company, N.A., as trustee. Holders may convert all or any portion of the senior 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 as noted above. The conversion rate is subject to adjustment upon the occurrence of certain events described in the indentures. ​ If we undergo a fundamental change (which includes a delisting of our common stock from the Nasdaq Global Select Market), as defined in the indentures, prior to the maturity date of the senior notes, holders may require us to repurchase for cash all or any portion of the senior notes at a fundamental change repurchase price equal to ​ The senior notes rank senior in right of payment to any of our indebtedness that is expressly subordinated in right of payment to the senior 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. ​ 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 convertible senior notes using the effective interest method. ​ As discussed in Note 1, we elected to not make the interest payment in the amount of $1.9 million in respect of our 2025 Notes that was due on November 1, 2022. Under the indenture governing these notes, we have a 30-day ​ Maturities of our convertible notes consisted of the following as of September 30, 2022 (in thousands): ​ ​ ​ ​ ​ 2022 (remaining three months) ​ $ 443,282 2023 ​ ​ — 2024 ​ ​ — 2025 ​ ​ — 2026 ​ ​ — Thereafter ​ ​ — ​ ​ ​ 443,282 Less debt issuance costs ​ ​ (4,962) Less current portion ​ ​ (438,320) Long-term portion ​ $ — ​ ​ 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 (“SSP”) in which we borrowed from SSP $175.0 million, the amount required to reimburse our actual costs and expenses incurred related to the ATHENA clinical trial (“Borrowed Amount”). ATHENA is our largest clinical trial, with a 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 in 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 completed enrollment during the second quarter of 2020, and top-line data from the ATHENA-MONO study was announced during the first quarter of 2022. ​ As of October 31, 2022, we have borrowed $175.0 million from SSP. We are obligated to repay the Borrowed Amount on a quarterly basis, 30 days after the end of the quarter, beginning on September 30, 2022 (the “Repayment Start Date”) based on the following: ​ ● 10.25% 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 $8.9 million, unless the label portion of the Rubraca NDA is expanded by the FDA to include on such label the treatment of an indication resulting from the ATHENA Trial, in which case the quarterly payment is capped at $14.2 million. The maximum amount required to be repaid under the agreement is two times the aggregate Borrowed Amount, which is $350.0 million. Quarterly payments are due within 30 days after each calendar quarter. Our first quarterly payment of $3.0 million was paid on October 28, 2022. ​ 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) 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, the filing of a bankruptcy, 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 nine months ended September 30, 2022, we used an effective interest rate of 13.0%, which is based on the estimate of remaining cash flows. 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. ​ A bankruptcy filing constitutes an event of default under the Financing Agreement. As described in Note 1 under “Going Concern and Management Plans”, a bankruptcy filing in the very near term looks increasingly probable, and therefore, we have classified all our obligations that become due and payable under the Financing Agreement as current liabilities as of September 30, 2022, as reflected in the table below. However, this may not reflect the actual amount of our obligations or the amounts that lenders may ultimately receive in a bankruptcy scenario. ​ ​ ​ ​ ​ 2022 (remaining three months) ​ $ 342,753 2023 ​ ​ — 2024 ​ ​ — 2025 ​ ​ — 2026 ​ ​ — Thereafter ​ ​ — ​ ​ ​ 342,753 Less debt issuance costs ​ ​ (1,141) Less unrecognized interest ​ ​ (119,557) Less current portion ​ ​ (222,055) Long-term portion ​ $ — ​ The following table sets forth total interest expense recognized during the three and nine months ended September 30, 2022 and 2021 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2022 2021 2022 2021 Interest on convertible notes ​ $ 2,549 ​ $ 2,885 ​ $ 7,648 ​ $ 8,814 ​ Amortization of debt issuance costs ​ 566 ​ 616 ​ 1,685 ​ 1,876 ​ Interest on finance lease ​ ​ — ​ ​ — ​ ​ — ​ ​ 363 ​ Interest on borrowings under financing agreement ​ ​ 6,748 ​ ​ 5,285 ​ ​ 19,304 ​ ​ 14,488 ​ Other interest ​ ​ — ​ ​ — ​ ​ — ​ ​ 52 ​ Total interest expense ​ $ 9,863 ​ $ 8,786 ​ $ 28,637 ​ $ 25,593 ​ ​

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2022
Stockholders' Equity
Stockholders' Equity	10. Stockholders’ Equity ​ Common Stock ​ 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. ​ On May 17, 2021, we entered into a distribution agreement (the “Distribution Agreement”) with J.P. Morgan Securities LLC and BofA Securities, Inc., as agents (the “Agents”), pursuant to which we may offer and sell, from time to time, through the Agents, shares of our common stock having an aggregate offering price of up to $75.0 million in transactions that are deemed to be “at the market” offerings as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended, including sales made by means of ordinary brokers’ transactions, including directly on the Nasdaq Global Select Market or into any other existing trading market for the Shares, or sales made to or through a market maker, in block transactions or by any other method permitted by law, including negotiated transactions. Sales may be made at market prices prevailing at the time of a sale or at prices related to prevailing market prices or at negotiated prices. During the period between May 18, 2021 and June 9, 2021, we sold an aggregate of 13,492,231 shares of our common stock under the Distribution Agreement resulting in gross proceeds of $75.0 million and net proceeds to us of $72.5 million, after deducting commissions and offering expenses, effectively closing out sales we may make pursuant to the Distribution Agreement. We have used and intend to use the net proceeds of this offering for general corporate purposes, including funding of our development programs, sales and marketing expenses associated with Rubraca, repayment, repurchase or refinance of our debt obligations, payment of milestones pursuant to our license agreements, general and administrative expenses, acquisition or licensing of additional product candidates or businesses and working capital. ​ On August 16, 2021, we entered into a distribution agreement (the “August Distribution Agreement”) with the Agents, pursuant to which we may offer and sell, from time to time, through the Agents, shares of our common stock, having an aggregate offering price of up to $125.0 million in transactions that are deemed to be “at the market” offerings as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended, including sales made by means of ordinary brokers’ transactions, including directly on the Nasdaq Global Select Market or into any other existing trading market for the shares, or sales made to or through a market maker, in block transactions or by any other method permitted by law, including privately negotiated transactions. Sales may be made at market prices prevailing at the time of a sale or at prices related to prevailing market prices or at negotiated prices. During the period between August 17, 2021 and September 15, 2021, we sold an aggregate of 9,379,976 shares of our common stock under the August Distribution Agreement resulting in gross proceeds of $43.0 million and net proceeds to us of $41.5 million, after deducting commissions and offering expenses. During the period between November 5, 2021 and November 16, 2021, we sold an aggregate of 731,292 shares of our common stock resulting in gross proceeds of $3.1 million and net proceeds to us of $3.0 million, after deducting commissions and offering expenses. ​ During the period between January 18, 2022 and March 3, 2022, we sold an aggregate of 13,870,410 shares of our common stock resulting in gross proceeds of $29.8 million and net proceeds to us of $28.6 million, after deducting commissions and offering expenses. ​ We have used and intend to use the net proceeds of this offering for general corporate purposes, including funding of our development programs, sales and marketing expenses associated with Rubraca, repayment, repurchase or refinance of our debt obligations, payment of milestones pursuant to our license agreements, general and administrative expenses, acquisition or licensing of additional product candidates or businesses and working capital. ​ 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 for the three months ended September 30, 2022 and 2021, as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency ​ Unrealized ​ Total Accumulated ​ ​ Translation Adjustments ​ Losses ​ Other Comprehensive Loss ​ ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ Balance at July 1, ​ $ (41,698) ​ $ (44,231) ​ $ (139) ​ $ (139) ​ $ (41,837) ​ $ (44,370) ​ Other comprehensive income ​ ​ 932 ​ ​ 415 ​ ​ — ​ ​ — ​ ​ 932 ​ ​ 415 ​ Total before tax ​ ​ (40,766) ​ ​ (43,816) ​ ​ (139) ​ ​ (139) ​ ​ (40,905) ​ ​ (43,955) ​ Tax effect ​ — ​ ​ — ​ — ​ ​ — ​ — ​ ​ — ​ Balance at September 30, ​ $ (40,766) ​ $ (43,816) ​ $ (139) ​ $ (139) ​ $ (40,905) ​ $ (43,955) ​ ​ The changes in accumulated balances related to each component of other comprehensive income (loss) are summarized for the nine months ended September 30, 2022 and 2021, as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency ​ Unrealized ​ Total Accumulated ​ ​ Translation Adjustments ​ Losses ​ Other Comprehensive Loss ​ ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ Balance at January 1, ​ $ (43,291) ​ $ (44,165) ​ $ (139) ​ $ (139) ​ $ (43,430) ​ $ (44,304) ​ Other comprehensive income (loss) ​ ​ 2,525 ​ ​ 349 ​ ​ — ​ ​ — ​ ​ 2,525 ​ ​ 349 ​ Total before tax ​ ​ (40,766) ​ ​ (43,816) ​ ​ (139) ​ ​ (139) ​ ​ (40,905) ​ ​ (43,955) ​ Tax effect ​ — ​ ​ — ​ — ​ ​ — ​ — ​ ​ — ​ Balance at September 30, ​ $ (40,766) ​ $ (43,816) ​ $ (139) ​ $ (139) ​ $ (40,905) ​ $ (43,955) ​ ​ There were no reclassifications out of accumulated other comprehensive loss in each of the three and nine months ended September 30, 2022 and 2021.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Compensation
Share-Based Compensation	11. Share-Based Compensation ​ Share-based compensation expense for all equity-based programs, including stock options, restricted stock units and the employee stock purchase plan, for the three and nine months ended September 30, 2022 and 2021 was recognized in the accompanying Consolidated Statements of Operations and Comprehensive Loss as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2022 2021 2022 2021 Research and development ​ $ 2,359 ​ $ 3,382 ​ $ 8,094 ​ $ 9,732 ​ ​ Selling, general and administrative ​ 2,531 ​ 3,619 ​ 8,830 ​ 8,670 ​ ​ Total share-based compensation expense ​ $ 4,890 ​ $ 7,001 ​ $ 16,924 ​ $ 18,402 ​ ​ ​ We did not recognize a tax benefit related to share-based compensation expense during the three and nine months ended September 30, 2022 and 2021, as we maintain net operating loss carryforwards and have established a valuation allowance against the entire net deferred tax asset as of September 30, 2022 and 2021. ​ Stock Options ​ The following table summarizes the activity relating to our options to purchase common stock for the nine months ended September 30, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ Aggregate ​ ​ ​ ​ Average ​ Remaining ​ Intrinsic ​ ​ Number of ​ Exercise ​ Contractual ​ Value ​ ​ Options ​ Price ​ Term (Years) ​ (Thousands) Outstanding at December 31, 2021 ​ 7,010,039 ​ $ 33.36 ​ ​ Granted ​ 548,250 ​ ​ 1.95 ​ ​ Exercised ​ — ​ ​ — ​ ​ Forfeited ​ (565,579) ​ ​ 26.50 ​ ​ Outstanding at September 30, 2022 ​ 6,992,710 ​ $ 31.45 5.2 ​ $ 3 ​ Vested and expected to vest at September 30, 2022 ​ 6,845,679 ​ $ 32.05 5.1 ​ $ 3 ​ Vested and exercisable at September 30, 2022 ​ 5,906,119 ​ $ 36.34 4.6 ​ $ — ​ ​ The aggregate intrinsic value in the table above represents the pretax intrinsic value, based on our closing stock price of $1.19 as of September 30, 2022, 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 three and nine months ended September 30, 2022 and 2021 (in thousands, except per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2022 2021 2022 2021 Weighted-average grant date fair value per share ​ $ 1.67 ​ $ 4.09 ​ $ 1.47 ​ $ 4.75 ​ Intrinsic value of options exercised ​ $ — ​ $ — ​ $ — ​ $ 15 ​ Cash received from stock option exercises ​ $ — ​ $ — ​ $ — ​ $ 35 ​ ​ As of September 30, 2022, the unrecognized share-based compensation expense related to unvested options, adjusted for expected forfeitures, was $3.4 million and the estimated weighted-average remaining vesting period was 1.7 years. ​ Restricted Stock ​ The following table summarizes the activity relating to our unvested restricted stock units (“RSUs”) for the nine months ended September 30, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant Date ​ ​ Units ​ Fair Value Unvested at December 31, 2021 ​ 3,683,422 ​ $ 8.36 ​ Granted ​ 2,766,899 ​ 1.95 ​ Vested ​ (1,568,041) ​ 9.15 ​ Forfeited ​ (493,874) ​ 4.72 ​ Unvested at September 30, 2022 ​ 4,388,406 ​ $ 4.44 ​ Expected to vest after September 30, 2022 ​ 3,784,992 ​ $ 4.64 ​ ​ As of September 30, 2022, the unrecognized share-based compensation expense related to unvested RSUs, adjusted for expected forfeitures, was $17.9 million and the estimated weighted-average remaining vesting period was 1.6 years.

License Agreements

License Agreements	9 Months Ended
	Sep. 30, 2022
License Agreements
License Agreements	12. License Agreements ​ Rucaparib ​ In June 2011, we entered into a license agreement with Pfizer, Inc. (“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. ​ During 2016 through 2020, we paid Pfizer a total of $82.5 million in milestone payments related to the FDA and European Commission approvals received for Rubraca. 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. ​ As discussed in Note 1, we are in discussions with Pfizer to defer certain royalty payments due under our license agreement in respect of sales of Rubraca during the quarter ended September 30, 2022 in the amount of $4.3 million and the quarter ending December 31, 2022 until March 31, 2023, plus interest thereon from the date such payments would otherwise be payable under the license agreement until actually paid. ​ 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. ​ FAP-2286 and the R adionuclide 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. ​ 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. In April 2021, we made a milestone payment to 3BP under the license and collaboration agreement of $2.2 million as a result of the FDA’s acceptance of the IND for the treatment agent. In September 2021, we made a $3.3 million milestone payment to 3BP under the license and collaboration agreement. ​ In February 2020, we finalized the terms of a drug discovery collaboration agreement with 3BP to identify up to three additional, undisclosed targets for PTRT, 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 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. ​ 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 Srl) 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. ​

Net Loss Per Common Share

Net Loss Per Common Share	9 Months Ended
	Sep. 30, 2022
Net Loss Per Common Share
Net Loss Per Common Share	13. 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three and nine months ended September 30, ​ ​ 2022 2021 Common shares under stock incentive plans ​ 4,398 ​ 4,070 ​ Convertible senior notes ​ 24,928 ​ 24,928 ​ Total potential dilutive shares ​ 29,326 ​ 28,998 ​ ​

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies
Commitments and Contingencies	14. Commitments and Contingencies ​ Royalty and License Fee Commitments ​ We have entered into certain license agreements, as identified in Note 12, License Agreements ​ 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 manufacture the Rubraca active ingredient. We made scheduled capital program fee payments toward capital equipment and other costs associated with the construction of the 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 September 30, 2022, $31.3 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, financial lease of equipment, purchase of leasehold improvements and prepaid 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. ​ On June 16, 2021, we entered into amendment no. 2 of the Agreement with Lonza (“Amendment 2”). Pursuant to the terms of Amendment 2, we paid Lonza $1.1 million to repurpose the production train so that Lonza will be able to use the facility to manufacture other products for third parties in addition to API for Clovis. Lonza is guaranteeing a minimum percentage usage of this production train for third parties and Lonza would reduce our fixed facility fee starting in 2023 based on this minimum percentage usage. If Lonza is able to utilize greater than the minimum guaranteed percentage, it will increase the reduction to our fixed facility fee. We evaluated Amendment 2 and determined that we no longer have a lease with Lonza at June 30, 2021 because Amendment 2 modified the terms of the Agreement in that Lonza will use a portion of the production train for third parties. The Agreement no longer conveys the right to direct the use of the identified asset and Clovis no longer has the right to obtain substantially all the economic benefit from the asset. As a result, the arrangement is no longer in scope of ASC 842, “Leases”, resulting in the derecognition of the lease components recognized under the original agreement. This includes the operating lease liabilities and ROU assets, finance lease liabilities and ROU assets and leasehold improvement assets and liability. ​ 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. ​ 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 one opponent, Hexal AG, appealed the written decision of the European Opposition Division and filed reply appeal briefs in November 2019. An oral hearing in the appeal is scheduled for March 30, 2023. The Board of Appeal issued its preliminary opinion on July 25, 2022. The preliminary opinion is publicly available and non-binding, and identifies points for consideration at the oral hearing, including novelty and inventive step, but does not establish definitive positions on these points. ​ An opposition against European Patent 3150610 was filed by Generics (UK) Limited on April 30, 2020 on grounds similar to those raised in the opposition notices against European Patent 2534153, which grounds are common in such proceedings. Clovis responded to the opposition notice in European Patent 3150610 by amending the claims to be directed to the use of rucaparib maleate in a method of inhibiting PARP activity or treating cancer. That is, the amended claims do not cover Rubraca. During an oral hearing that took place on November 18, 2021, European Patent 3150610 was revoked, and the written decision of the European Patent Office was dated December 15, 2021. Clovis filed its appeal on April 20, 2022. During the appeal, the effect of the Opposition Division’s decision is suspended, and the patent remains in force until a Technical Board of Appeals issues its own decision. ​ In Europe, regulatory exclusivity is available for ten years, plus one year for a new indication; therefore, we have regulatory exclusivity for Rubraca, including all forms of rucaparib, in Europe until 2028, and if the EMA approves a subsequent indication that brings significant clinical benefit in comparison with existing therapies, until 2029. ​

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2022
Segment Information
Segment Information	15. Segment Information ​ The following table presents information about our reportable segments for the three months ended September 30, 2022 and 2021 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ 2022 ​ 2021 ​ ​ US Ex-US Total US Ex-US Total Product revenue ​ $ 23,019 ​ $ 7,644 ​ $ 30,663 ​ $ 28,699 ​ $ 9,217 ​ $ 37,916 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ Cost of sales - product ​ 4,487 ​ 2,778 ​ 7,265 ​ 5,488 ​ 3,018 ​ 8,506 ​ Cost of sales - intangible asset amortization ​ 620 ​ 723 ​ 1,343 ​ 620 ​ 723 ​ 1,343 ​ Research and development ​ 29,122 ​ 1,665 ​ 30,787 ​ 44,309 ​ 1,913 ​ 46,222 ​ Selling, general and administrative ​ 25,872 ​ 4,508 ​ 30,380 ​ 26,685 ​ 5,511 ​ 32,196 ​ Acquired in-process research and development ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,272 ​ ​ — ​ ​ 3,272 ​ Other operating expenses ​ ​ 5,123 ​ ​ — ​ ​ 5,123 ​ ​ 3,841 ​ ​ — ​ ​ 3,841 ​ Total expenses ​ 65,224 9,674 74,898 84,215 11,165 95,380 Operating loss ​ $ (42,205) ​ $ (2,030) ​ ​ (44,235) ​ $ (55,516) ​ $ (1,948) ​ ​ (57,464) ​ Other income (expense): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense ​ ​ ​ ​ ​ ​ ​ ​ (9,863) ​ ​ ​ ​ ​ ​ ​ ​ (8,786) ​ Foreign currency loss ​ ​ ​ ​ ​ ​ ​ ​ (2,073) ​ ​ ​ ​ ​ ​ ​ ​ (1,248) ​ Other income ​ ​ ​ ​ ​ ​ ​ ​ 192 ​ ​ ​ ​ ​ ​ ​ ​ 101 ​ Other income (expense), net ​ ​ ​ ​ ​ ​ ​ ​ (11,744) ​ ​ ​ ​ ​ ​ ​ ​ (9,933) ​ Loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ (55,979) ​ ​ ​ ​ ​ ​ ​ ​ (67,397) ​ Income tax benefit (expense) ​ ​ ​ ​ ​ ​ ​ ​ (35) ​ ​ ​ ​ ​ ​ ​ ​ (13) ​ Net loss ​ ​ ​ ​ ​ ​ ​ $ (56,014) ​ ​ ​ ​ ​ ​ ​ $ (67,410) ​ ​ ​ ​ The following table presents information about our reportable segments for the nine months ended September 30, 2022 and 2021 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, ​ 2022 ​ 2021 ​ ​ US Ex-US Total US Ex-US Total Product revenue ​ $ 70,262 ​ $ 26,790 ​ $ 97,052 ​ $ 88,080 ​ $ 24,709 ​ $ 112,789 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ Cost of sales - product ​ 13,782 ​ 9,425 ​ 23,207 ​ 17,047 ​ 8,021 ​ 25,068 ​ Cost of sales - intangible asset amortization ​ 1,861 ​ 2,168 ​ 4,029 ​ 1,860 ​ 2,168 ​ 4,028 ​ Research and development ​ 103,996 ​ 5,467 ​ 109,463 ​ 138,913 ​ 5,873 ​ 144,786 ​ Selling, general and administrative ​ 76,365 ​ 15,818 ​ 92,183 ​ 77,357 ​ 17,698 ​ 95,055 ​ Acquired in-process research and development ​ ​ — ​ ​ — ​ ​ — ​ ​ 5,477 ​ ​ — ​ ​ 5,477 ​ Other operating expenses ​ ​ 22,146 ​ ​ — ​ ​ 22,146 ​ ​ 11,431 ​ ​ — ​ ​ 11,431 ​ Total expenses ​ 218,150 32,878 251,028 252,085 33,760 285,845 Operating loss ​ $ (147,888) ​ $ (6,088) ​ ​ (153,976) ​ $ (164,005) ​ $ (9,051) ​ ​ (173,056) ​ Other income (expense): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense ​ ​ ​ ​ ​ ​ ​ ​ (28,637) ​ ​ ​ ​ ​ ​ ​ ​ (25,593) ​ Foreign currency loss ​ ​ ​ ​ ​ ​ ​ ​ (5,540) ​ ​ ​ ​ ​ ​ ​ ​ (2,001) ​ Other income ​ ​ ​ ​ ​ ​ ​ ​ 511 ​ ​ ​ ​ ​ ​ ​ ​ 392 ​ Other income (expense), net ​ ​ ​ ​ ​ ​ ​ ​ (33,666) ​ ​ ​ ​ ​ ​ ​ ​ (27,202) ​ Loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ (187,642) ​ ​ ​ ​ ​ ​ ​ ​ (200,258) ​ Income tax benefit ​ ​ ​ ​ ​ ​ ​ ​ 127 ​ ​ ​ ​ ​ ​ ​ ​ 125 ​ Net loss ​ ​ ​ ​ ​ ​ ​ $ (187,515) ​ ​ ​ ​ ​ ​ ​ $ (200,133) ​ ​

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Summary of Significant Accounting Policies
Basis of Presentation	Basis of Presentation ​ All financial information presented includes the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. ​ The unaudited financial statements of Clovis Oncology, Inc. included herein reflect all adjustments that, in the opinion of management, are necessary to fairly state our financial position, results of operations and cash flows for the periods presented herein. Interim results may not be indicative of the results that may be expected for the full year. Certain information and footnote disclosures normally included in audited financial statements prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) have been condensed or omitted pursuant to the rules and regulations of the US Securities and Exchange Commission (“SEC”). These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto which are included in our 2021 Form 10-K for a broader discussion of our business and the opportunities and risks inherent in such business. ​
Use of Estimates	Use of Estimates ​ The preparation of financial statements in conformity with US 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.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards ​ 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 adopted this guidance on January 1, 2022, and there was no material impact on our consolidated financial statements and related disclosures. ​
Revenue Recognition	Revenue Recognition ​ We are currently approved to sell Rubraca in the United States and European 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. ​ 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 ​
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.
Accounts Receivable	Accounts Receivable ​ We provide an allowance for credit losses based on experience and specifically identified risks. Accounts receivable is 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 the 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 five 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 five 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 an operating expense. 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. ​ For the three and nine months ended September 30, 2022, we recognized $1.5 million and $11.2 million, respectively, related to an increase in our allowance for excess inventory. We analyzed our current inventory levels for excess quantities and obsolescence (expiration) and considered historical and anticipated future sales compared to quantities on hand and the remaining shelf-life of Rubraca. After considering these factors, we determined that these finished goods are likely to expire before we can sell them. ​ 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 production train at Lonza are included in Other Operating Expenses on 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.
Segment Information	Segment Information ​ We have two operating and reportable segments, US and ex-US, based on product revenue by geographic areas. 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. ​ Our other significant accounting policies are described in Note 2, Summary of Significant Accounting Policies
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.

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Financial Instruments and Fair Value Measurements
Assets Measured at Fair Value on Recurring Basis	The following table identifies our assets and liabilities that were measured at fair value on a recurring basis (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance Level 1 Level 2 Level 3 September 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market investments ​ $ 13,135 ​ $ 13,135 ​ $ — ​ $ — ​ Total assets at fair value ​ $ 13,135 ​ $ 13,135 ​ $ — ​ $ — ​ December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market investments ​ $ 72,934 ​ $ 72,934 ​ $ — ​ $ — ​ Total assets at fair value ​ $ 72,934 ​ $ 72,934 ​ $ — ​ $ — ​

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2022
Inventories
Schedule of Inventories	The following table presents inventories as of September 30, 2022 and December 31, 2021 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2022 2021 Work-in-process $ 78,662 $ 85,084 Finished goods, net ​ 34,542 ​ 38,619 Allowance for excess inventory ​ ​ (10,150) ​ ​ (167) Total inventories $ 103,054 $ 123,536

Other Current Assets (Tables)

Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Other Current Assets
Schedule Of other current assets	Other current assets were comprised of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2022 2021 Prepaid insurance ​ $ 1,438 ​ $ 794 ​ Prepaid IT ​ ​ 1,040 ​ ​ 769 ​ Prepaid variable considerations ​ ​ 418 ​ ​ 1,336 ​ Prepaid expenses - other ​ 1,802 ​ 1,936 ​ Value-added tax ("VAT") receivable ​ ​ 1,468 ​ ​ 4,307 ​ Receivable - other ​ 1,698 ​ 2,499 ​ Other ​ 121 ​ 65 ​ Total ​ $ 7,985 ​ $ 11,706 ​

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	9 Months Ended
	Sep. 30, 2022
Intangible Assets and Goodwill
Intangible assets related to capitalized milestones under license agreements	Intangible assets related to capitalized milestones under license agreements consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2022 2021 Intangible asset - milestones ​ $ 79,850 ​ $ 79,850 Accumulated amortization ​ (23,507) ​ (19,479) Total intangible asset, net ​ $ 56,343 ​ $ 60,371
Estimated future amortization expense for intangible assets	Estimated future amortization expense associated with intangibles is expected to be as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ 2022 (remaining three months) ​ ​ ​ ​ $ 1,343 2023 ​ ​ ​ ​ ​ 5,371 2024 ​ ​ ​ ​ ​ 5,371 2025 ​ ​ ​ ​ ​ 5,371 2026 ​ ​ ​ ​ ​ 5,371 Thereafter ​ ​ ​ ​ ​ 33,516 ​ ​ ​ ​ ​ $ 56,343

Other Accrued Expenses (Tables)

Other Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2022
Other Accrued Expenses
Schedule of other accrued expenses	Other accrued expenses were comprised of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ 2022 2021 Accrued personnel costs ​ $ 14,685 ​ $ 15,714 ​ Accrued interest payable for convertible senior notes ​ 734 ​ 3,283 ​ Income tax payable ​ ​ 581 ​ ​ 1,579 ​ Accrued corporate legal fees and professional services ​ ​ 535 ​ ​ 141 ​ Accrued royalties ​ ​ 4,644 ​ ​ 5,463 ​ Accrued variable considerations ​ ​ 17,227 ​ ​ 17,211 ​ Accrued legal settlement loss ​ ​ — ​ ​ 2,325 ​ Accrued expenses - other ​ 4,137 ​ 5,155 ​ Total ​ $ 42,543 ​ $ 50,871 ​

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2022
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Three months ended September 30, ​ 2022 2021 Lease cost ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ $ — ​ $ — Interest on lease liabilities ​ — ​ — Operating lease cost ​ 1,185 ​ 1,342 Short-term lease cost ​ 72 ​ 81 Variable lease cost ​ ​ 608 ​ ​ 476 Total lease cost ​ $ 1,865 ​ $ 1,899 ​ ​ ​ ​ ​ ​ ​ Operating cash flows from finance leases ​ $ — ​ $ — Operating cash flows from operating leases ​ $ 1,185 ​ $ 1,342 Financing cash flows from finance leases ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, ​ Nine months ended September 30, ​ 2022 2021 Lease cost ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ $ — ​ $ 947 Interest on lease liabilities ​ — ​ 363 Operating lease cost ​ 3,607 ​ 3,875 Short-term lease cost ​ 224 ​ 241 Variable lease cost ​ ​ 1,885 ​ ​ 1,640 Total lease cost ​ $ 5,716 ​ $ 7,066 ​ ​ ​ ​ ​ ​ ​ Operating cash flows from finance leases ​ $ — ​ $ 363 Operating cash flows from operating leases ​ $ 3,607 ​ $ 3,875 Financing cash flows from finance leases ​ $ — ​ $ 780
Schedule of weighted-average remaining lease term and weighted-average discount rate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 September 30, 2021 ​ Weighted-average remaining lease term (years) ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 5.2 ​ ​ 6.1 ​ Finance leases ​ ​ N/A ​ ​ N/A ​ Weighted-average discount rate ​ ​ ​ ​ ​ ​ ​ Operating leases ​ ​ 8% ​ ​ 8% ​ Finance leases ​ ​ N/A ​ ​ N/A ​
Schedule of future minimum commitments due under lease agreements	Future minimum commitments due under these lease agreements as of September 30, 2022 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases ​ ​ 2022 (remaining three months) ​ 1,353 ​ 2023 ​ 4,863 ​ 2024 ​ 4,550 ​ 2025 ​ ​ 4,700 ​ ​ 2026 ​ ​ 4,829 ​ ​ Thereafter ​ 4,621 ​ Present value adjustment ​ ​ (4,671) ​ ​ Present value of lease payments ​ $ 20,245 ​ ​

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt
Summary of Convertible Senior Notes	The following is a summary of our convertible senior notes at September 30, 2022 and December 31, 2021 (principal amount in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Principal Amount ​ Principal Amount ​ ​ ​ ​ ​ Conversion rate per $1,000 ​ ​ September 30, 2022 ​ December 31, 2021 ​ Interest Rate ​ Maturity Date ​ principal amount (shares) 2024 Notes (2019 Issuance) ​ 85,782 ​ 85,782 ​ 4.50% ​ August 1, 2024 ​ 137.2213 2024 Notes (2020 Issuance) ​ ​ 57,500 ​ ​ 57,500 ​ 4.50% ​ August 1, 2024 ​ 160.3334 2025 Notes ​ 300,000 ​ 300,000 ​ 1.25% ​ May 1, 2025 ​ 13.1278 Total ​ ​ 443,282 ​ ​ 443,282 ​ ​ ​ ​ ​ ​ Unamortized debt issuance costs ​ ​ (4,962) ​ ​ (6,510) ​ ​ ​ ​ ​ ​ Convertible senior notes ​ $ 438,320 ​ $ 436,772 ​ ​ ​ ​ ​ ​
Schedule of Maturities of Convertible Notes	Maturities of our convertible notes consisted of the following as of September 30, 2022 (in thousands): ​ ​ ​ ​ ​ 2022 (remaining three months) ​ $ 443,282 2023 ​ ​ — 2024 ​ ​ — 2025 ​ ​ — 2026 ​ ​ — Thereafter ​ ​ — ​ ​ ​ 443,282 Less debt issuance costs ​ ​ (4,962) Less current portion ​ ​ (438,320) Long-term portion ​ $ —
Schedule of expected maturities of Finance Agreement	​ ​ ​ ​ ​ 2022 (remaining three months) ​ $ 342,753 2023 ​ ​ — 2024 ​ ​ — 2025 ​ ​ — 2026 ​ ​ — Thereafter ​ ​ — ​ ​ ​ 342,753 Less debt issuance costs ​ ​ (1,141) Less unrecognized interest ​ ​ (119,557) Less current portion ​ ​ (222,055) Long-term portion ​ $ —
Schedule of Total Interest Expense Recognized Related to Notes	The following table sets forth total interest expense recognized during the three and nine months ended September 30, 2022 and 2021 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2022 2021 2022 2021 Interest on convertible notes ​ $ 2,549 ​ $ 2,885 ​ $ 7,648 ​ $ 8,814 ​ Amortization of debt issuance costs ​ 566 ​ 616 ​ 1,685 ​ 1,876 ​ Interest on finance lease ​ ​ — ​ ​ — ​ ​ — ​ ​ 363 ​ Interest on borrowings under financing agreement ​ ​ 6,748 ​ ​ 5,285 ​ ​ 19,304 ​ ​ 14,488 ​ Other interest ​ ​ — ​ ​ — ​ ​ — ​ ​ 52 ​ Total interest expense ​ $ 9,863 ​ $ 8,786 ​ $ 28,637 ​ $ 25,593 ​

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Stockholders' Equity
Component of Other Comprehensive Income (Loss)	The changes in accumulated balances related to each component of other comprehensive income (loss) are summarized for the three months ended September 30, 2022 and 2021, as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency ​ Unrealized ​ Total Accumulated ​ ​ Translation Adjustments ​ Losses ​ Other Comprehensive Loss ​ ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ Balance at July 1, ​ $ (41,698) ​ $ (44,231) ​ $ (139) ​ $ (139) ​ $ (41,837) ​ $ (44,370) ​ Other comprehensive income ​ ​ 932 ​ ​ 415 ​ ​ — ​ ​ — ​ ​ 932 ​ ​ 415 ​ Total before tax ​ ​ (40,766) ​ ​ (43,816) ​ ​ (139) ​ ​ (139) ​ ​ (40,905) ​ ​ (43,955) ​ Tax effect ​ — ​ ​ — ​ — ​ ​ — ​ — ​ ​ — ​ Balance at September 30, ​ $ (40,766) ​ $ (43,816) ​ $ (139) ​ $ (139) ​ $ (40,905) ​ $ (43,955) ​ ​ The changes in accumulated balances related to each component of other comprehensive income (loss) are summarized for the nine months ended September 30, 2022 and 2021, as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency ​ Unrealized ​ Total Accumulated ​ ​ Translation Adjustments ​ Losses ​ Other Comprehensive Loss ​ ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ Balance at January 1, ​ $ (43,291) ​ $ (44,165) ​ $ (139) ​ $ (139) ​ $ (43,430) ​ $ (44,304) ​ Other comprehensive income (loss) ​ ​ 2,525 ​ ​ 349 ​ ​ — ​ ​ — ​ ​ 2,525 ​ ​ 349 ​ Total before tax ​ ​ (40,766) ​ ​ (43,816) ​ ​ (139) ​ ​ (139) ​ ​ (40,905) ​ ​ (43,955) ​ Tax effect ​ — ​ ​ — ​ — ​ ​ — ​ — ​ ​ — ​ Balance at September 30, ​ $ (40,766) ​ $ (43,816) ​ $ (139) ​ $ (139) ​ $ (40,905) ​ $ (43,955) ​ ​

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Compensation
Share-Based Compensation Expense Recognized in Accompanying Statements of Operations	Share-based compensation expense for all equity-based programs, including stock options, restricted stock units and the employee stock purchase plan, for the three and nine months ended September 30, 2022 and 2021 was recognized in the accompanying Consolidated Statements of Operations and Comprehensive Loss as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2022 2021 2022 2021 Research and development ​ $ 2,359 ​ $ 3,382 ​ $ 8,094 ​ $ 9,732 ​ ​ Selling, general and administrative ​ 2,531 ​ 3,619 ​ 8,830 ​ 8,670 ​ ​ Total share-based compensation expense ​ $ 4,890 ​ $ 7,001 ​ $ 16,924 ​ $ 18,402 ​ ​
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, 2021 ​ 7,010,039 ​ $ 33.36 ​ ​ Granted ​ 548,250 ​ ​ 1.95 ​ ​ Exercised ​ — ​ ​ — ​ ​ Forfeited ​ (565,579) ​ ​ 26.50 ​ ​ Outstanding at September 30, 2022 ​ 6,992,710 ​ $ 31.45 5.2 ​ $ 3 ​ Vested and expected to vest at September 30, 2022 ​ 6,845,679 ​ $ 32.05 5.1 ​ $ 3 ​ Vested and exercisable at September 30, 2022 ​ 5,906,119 ​ $ 36.34 4.6 ​ $ — ​
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 three and nine months ended September 30, 2022 and 2021 (in thousands, except per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2022 2021 2022 2021 Weighted-average grant date fair value per share ​ $ 1.67 ​ $ 4.09 ​ $ 1.47 ​ $ 4.75 ​ Intrinsic value of options exercised ​ $ — ​ $ — ​ $ — ​ $ 15 ​ Cash received from stock option exercises ​ $ — ​ $ — ​ $ — ​ $ 35 ​
Summary of activity related to our unvested RSUs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant Date ​ ​ Units ​ Fair Value Unvested at December 31, 2021 ​ 3,683,422 ​ $ 8.36 ​ Granted ​ 2,766,899 ​ 1.95 ​ Vested ​ (1,568,041) ​ 9.15 ​ Forfeited ​ (493,874) ​ 4.72 ​ Unvested at September 30, 2022 ​ 4,388,406 ​ $ 4.44 ​ Expected to vest after September 30, 2022 ​ 3,784,992 ​ $ 4.64 ​

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2022
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three and nine months ended September 30, ​ ​ 2022 2021 Common shares under stock incentive plans ​ 4,398 ​ 4,070 ​ Convertible senior notes ​ 24,928 ​ 24,928 ​ Total potential dilutive shares ​ 29,326 ​ 28,998 ​

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Information
Schedule of information about reportable segments	The following table presents information about our reportable segments for the three months ended September 30, 2022 and 2021 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ 2022 ​ 2021 ​ ​ US Ex-US Total US Ex-US Total Product revenue ​ $ 23,019 ​ $ 7,644 ​ $ 30,663 ​ $ 28,699 ​ $ 9,217 ​ $ 37,916 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ Cost of sales - product ​ 4,487 ​ 2,778 ​ 7,265 ​ 5,488 ​ 3,018 ​ 8,506 ​ Cost of sales - intangible asset amortization ​ 620 ​ 723 ​ 1,343 ​ 620 ​ 723 ​ 1,343 ​ Research and development ​ 29,122 ​ 1,665 ​ 30,787 ​ 44,309 ​ 1,913 ​ 46,222 ​ Selling, general and administrative ​ 25,872 ​ 4,508 ​ 30,380 ​ 26,685 ​ 5,511 ​ 32,196 ​ Acquired in-process research and development ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,272 ​ ​ — ​ ​ 3,272 ​ Other operating expenses ​ ​ 5,123 ​ ​ — ​ ​ 5,123 ​ ​ 3,841 ​ ​ — ​ ​ 3,841 ​ Total expenses ​ 65,224 9,674 74,898 84,215 11,165 95,380 Operating loss ​ $ (42,205) ​ $ (2,030) ​ ​ (44,235) ​ $ (55,516) ​ $ (1,948) ​ ​ (57,464) ​ Other income (expense): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense ​ ​ ​ ​ ​ ​ ​ ​ (9,863) ​ ​ ​ ​ ​ ​ ​ ​ (8,786) ​ Foreign currency loss ​ ​ ​ ​ ​ ​ ​ ​ (2,073) ​ ​ ​ ​ ​ ​ ​ ​ (1,248) ​ Other income ​ ​ ​ ​ ​ ​ ​ ​ 192 ​ ​ ​ ​ ​ ​ ​ ​ 101 ​ Other income (expense), net ​ ​ ​ ​ ​ ​ ​ ​ (11,744) ​ ​ ​ ​ ​ ​ ​ ​ (9,933) ​ Loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ (55,979) ​ ​ ​ ​ ​ ​ ​ ​ (67,397) ​ Income tax benefit (expense) ​ ​ ​ ​ ​ ​ ​ ​ (35) ​ ​ ​ ​ ​ ​ ​ ​ (13) ​ Net loss ​ ​ ​ ​ ​ ​ ​ $ (56,014) ​ ​ ​ ​ ​ ​ ​ $ (67,410) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, ​ 2022 ​ 2021 ​ ​ US Ex-US Total US Ex-US Total Product revenue ​ $ 70,262 ​ $ 26,790 ​ $ 97,052 ​ $ 88,080 ​ $ 24,709 ​ $ 112,789 ​ Operating expenses: ​ ​ ​ ​ ​ ​ ​ Cost of sales - product ​ 13,782 ​ 9,425 ​ 23,207 ​ 17,047 ​ 8,021 ​ 25,068 ​ Cost of sales - intangible asset amortization ​ 1,861 ​ 2,168 ​ 4,029 ​ 1,860 ​ 2,168 ​ 4,028 ​ Research and development ​ 103,996 ​ 5,467 ​ 109,463 ​ 138,913 ​ 5,873 ​ 144,786 ​ Selling, general and administrative ​ 76,365 ​ 15,818 ​ 92,183 ​ 77,357 ​ 17,698 ​ 95,055 ​ Acquired in-process research and development ​ ​ — ​ ​ — ​ ​ — ​ ​ 5,477 ​ ​ — ​ ​ 5,477 ​ Other operating expenses ​ ​ 22,146 ​ ​ — ​ ​ 22,146 ​ ​ 11,431 ​ ​ — ​ ​ 11,431 ​ Total expenses ​ 218,150 32,878 251,028 252,085 33,760 285,845 Operating loss ​ $ (147,888) ​ $ (6,088) ​ ​ (153,976) ​ $ (164,005) ​ $ (9,051) ​ ​ (173,056) ​ Other income (expense): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense ​ ​ ​ ​ ​ ​ ​ ​ (28,637) ​ ​ ​ ​ ​ ​ ​ ​ (25,593) ​ Foreign currency loss ​ ​ ​ ​ ​ ​ ​ ​ (5,540) ​ ​ ​ ​ ​ ​ ​ ​ (2,001) ​ Other income ​ ​ ​ ​ ​ ​ ​ ​ 511 ​ ​ ​ ​ ​ ​ ​ ​ 392 ​ Other income (expense), net ​ ​ ​ ​ ​ ​ ​ ​ (33,666) ​ ​ ​ ​ ​ ​ ​ ​ (27,202) ​ Loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ (187,642) ​ ​ ​ ​ ​ ​ ​ ​ (200,258) ​ Income tax benefit ​ ​ ​ ​ ​ ​ ​ ​ 127 ​ ​ ​ ​ ​ ​ ​ ​ 125 ​ Net loss ​ ​ ​ ​ ​ ​ ​ $ (187,515) ​ ​ ​ ​ ​ ​ ​ $ (200,133) ​

Nature of Business (Details)

Nature of Business (Details) $ in Millions			1 Months Ended	3 Months Ended	9 Months Ended
	Nov. 07, 2022 USD ($) employee	Nov. 04, 2022 D	Dec. 31, 2020 item	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($) item product segment entity
Number of operating segments | segment					2
Number of days of letter received from FDA identifying filing review phase | D		74
Percentage of Immature HRD supplemental new drug application for overall survival data submitted		15.80%
Percentage of Immature ITT supplemental new drug application for overall survival data submitted.		24.70%
Initial estimated maturity percentage from ATHENA- MONO trial		50%
Term of Initial estimated maturity percentage reach from ATHENA- MONO trial		1 year 6 months
Number of INDs			2
Number of targets for collaborative discovery					3
Number of pathways inhibited					3
Term of past downfall in revenue trend					2 years
Number of competitors | entity					2
Term of lower stock price in the past					6 months
Number of other product candidates | product					1
Number of employees in workforce reduction | employee	115
Annual cost savings due to workforce | $	$ 29
Severance costs | $	$ 4
Debt instrument grace term				30 days
Term of going concern uncertainty					1 year
Rucaparib
Deferred royalty payable | $				$ 4.3	$ 4.3
2025 Notes
Interest payment | $				$ 1.9	$ 1.9
Convertible senior notes, interest rate				1.25%	1.25%
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 Policies

Summary of Significant Policies (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($) segment
Schedule Of Significant Accounting Policies
Amortization period of the asset		true
Shelf-life of API		5 years
Consumption period of API		5 years
Increase in allowance | $	$ 1.5	$ 11.2
Number of operating segments		2
Number of reportable segments		2
Rucaparib
Schedule Of Significant Accounting Policies
Shelf life of inventory		4 years
Minimum
Schedule Of Significant Accounting Policies
Payment terms number of days		30 days
Maximum
Schedule Of Significant Accounting Policies
Payment terms number of days		60 days

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements (Details) - Recurring - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value Measurements
Assets at fair value	$ 13,135	$ 72,934
Liabilities at fair value	0	0
Money market investments
Fair Value Measurements
Assets at fair value	13,135	72,934
Fair Value, Inputs, Level 1
Fair Value Measurements
Assets at fair value	13,135	72,934
Fair Value, Inputs, Level 1 | Money market investments
Fair Value Measurements
Assets at fair value	13,135	72,934
Fair Value, Inputs, Level 2 | Money market investments
Fair Value Measurements
Assets at fair value	0	0
Fair Value, Inputs, Level 3
Fair Value Measurements
Assets at fair value	0	0
Fair Value, Inputs, Level 3 | Money market investments
Fair Value Measurements
Assets at fair value	$ 0	$ 0

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value Measurements
Principal amount outstanding	$ 438,320	$ 436,772
2024 Notes (2019 Issuance)
Fair Value Measurements
Principal amount outstanding	84,800
Convertible senior notes, fair value	55,900
2024 Notes (2020 Issuance)
Fair Value Measurements
Principal amount outstanding	57,000
Convertible senior notes, fair value	36,000
Convertible Senior Unsecured Notes 2025 Notes
Fair Value Measurements
Principal amount outstanding	296,500
Convertible senior notes, fair value	$ 202,200

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Inventories
Work-in-process	$ 78,662	$ 85,084
Finished goods, net	34,542	38,619
Allowance for excess inventory	(10,150)	(167)
Total inventories	$ 103,054	$ 123,536

Other Current Assets (Details)

Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Other Current Assets
Prepaid insurance	$ 1,438	$ 794
Prepaid IT	1,040	769
Prepaid variable considerations	418	1,336
Prepaid expenses - other	1,802	1,936
Value-added tax ("VAT") receivable	1,468	4,307
Receivable - other	1,698	2,499
Other	121	65
Total	$ 7,985	$ 11,706

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Details) - Licensing Agreements - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Finite Lived Intangible Assets [Line Items]
Intangible asset - milestones	$ 79,850	$ 79,850
Accumulated amortization	(23,507)	(19,479)
Total intangible asset, net	$ 56,343	$ 60,371

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Licensing Agreements
Finite Lived Intangible Assets
Amortization of Intangible Assets	$ 1.3	$ 1.3	$ 4	$ 4

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Estimated Future Amortization (Details) - Licensing Agreements - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Finite Lived Intangible Assets
2022 (remaining three months)	$ 1,343
2023	5,371
2024	5,371
2025	5,371
2026	5,371
Thereafter	33,516
Total intangible asset, net	$ 56,343	$ 60,371

Other Accrued Expenses (Details

Other Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Other Accrued Expenses
Accrued personnel costs	$ 14,685	$ 15,714
Accrued interest payable for convertible senior notes	734	3,283
Income tax payable	581	1,579
Accrued corporate legal fees and professional services	535	141
Accrued royalties	4,644	5,463
Accrued variable considerations	17,227	17,211
Accrued legal settlement loss		2,325
Accrued expenses - other	4,137	5,155
Total	$ 42,543	$ 50,871

Leases - Components of lease ex

Leases - Components of lease expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Lessee Disclosure [Abstract]
Amortization of right-of-use assets				$ 947
Interest on lease liabilities				363
Operating lease cost	$ 1,185	$ 1,342	$ 3,607	3,875
Short-term lease cost	72	81	224	241
Variable lease cost	608	476	1,885	1,640
Total lease cost	1,865	1,899	5,716	7,066
Cash flows from leases
Operating cash flows from finance leases				363
Operating cash flows from operating leases	$ 1,185	$ 1,342	$ 3,607	3,875
Financing cash flows from finance leases				$ 780

Leases - Weighted Average (Deta

Leases - Weighted Average (Details)	Sep. 30, 2022	Sep. 30, 2021
Weighted-average remaining lease term (years)
Operating leases	5 years 2 months 12 days	6 years 1 month 6 days
Weighted-average discount rate
Operating leases	8%	8%

Leases - Future minimum commitm

Leases - Future minimum commitments (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Operating Leases
2022 (remaining three months)	$ 1,353
2023	4,863
2024	4,550
2025	4,700
2026	4,829
Thereafter	4,621
Present value adjustment	(4,671)
Present value of lease payments	$ 20,245
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent, us-gaap:OtherLiabilitiesNoncurrent

Debt (Details)

Debt (Details) $ in Thousands			3 Months Ended	9 Months Ended
	Oct. 28, 2022 USD ($)	May 01, 2019 USD ($) site country item	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)	Oct. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument
Aggregate principal amount			$ 443,282	$ 443,282		$ 443,282
Unamortized debt issuance costs			(4,962)	(4,962)		(6,510)
Principal amount outstanding			$ 438,320	$ 438,320		436,772
Debt instrument repurchase percentage				100%
Debt instrument grace term			30 days
Sixth Street Partners, LLC
Debt Instrument
Principal amount outstanding					$ 175,000
Number of patients | item		1,000
Percentage of royalty payment received		19.50%
Percentage of other amounts received		19.50%
Quarterly payments based on a certain percentage of revenues				$ 8,900
Quarterly payments with label portion expanded by FDA				$ 14,200
Ratio of repayment amount				2
Effective interest rate			13%	13%
Sixth Street Partners, LLC | Date is after Repayment Start Date
Debt Instrument
Debt Instrument Ratio				2%
Sixth Street Partners, LLC | Subsequent Event
Debt Instrument
Quarterly payment	$ 3,000
Sixth Street Partners, LLC | Minimum
Debt Instrument
Number of sites | site		270
Number of countries | country		25
Sixth Street Partners, LLC | Maximum
Debt Instrument
Aggregate principal amount		$ 175,000
2024 Notes (2019 Issuance)
Debt Instrument
Aggregate principal amount			$ 85,782	$ 85,782		85,782
Convertible senior notes, interest rate			4.50%	4.50%
Convertible senior notes, maturity date				Aug. 01, 2024
Conversion rate per $1,000 principal amount (shares)				137.2213
Principal amount outstanding			$ 84,800	$ 84,800
2024 Notes (2020 Issuance)
Debt Instrument
Aggregate principal amount			$ 57,500	$ 57,500		57,500
Convertible senior notes, interest rate			4.50%	4.50%
Convertible senior notes, maturity date				Aug. 01, 2024
Conversion rate per $1,000 principal amount (shares)				160.3334
Principal amount outstanding			$ 57,000	$ 57,000
2025 Notes
Debt Instrument
Aggregate principal amount			$ 300,000	$ 300,000		$ 300,000
Convertible senior notes, interest rate			1.25%	1.25%
Convertible senior notes, maturity date				May 01, 2025
Conversion rate per $1,000 principal amount (shares)				13.1278
Interest payment			$ 1,900	$ 1,900
Borrowing Exceeds $166.5 million | Sixth Street Partners, LLC
Debt Instrument
Aggregate principal amount			$ 350,000	$ 350,000
Interest rate based on amount borrowed			10.25%	10.25%

Debt - Maturities for Convertib

Debt - Maturities for Convertible Senior Notes (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Debt
2022 (remaining three months)	$ 443,282
Total	443,282
Less debt issuance costs	(4,962)
Less current portion	$ (438,320)

Debt - Expected maturities of F

Debt - Expected maturities of Financing Agreement (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt
2022 (remaining three months)	$ 342,753
Expected maturities of financing agreement including debt issuance costs	342,753
Less debt issuance costs	(1,141)
Less unrecognized interest	(119,557)
Less current portion	$ (222,055)
Long-term portion		$ 169,956

Debt - Interest expense recogni

Debt - Interest expense recognized (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Debt
Interest on convertible notes	$ 2,549	$ 2,885	$ 7,648	$ 8,814
Amortization of debt issuance costs	566	616	1,685	1,876
Interest on finance lease				363
Interest on borrowings under financing agreement	6,748	5,285	19,304	14,488
Other interest				52
Total interest expense	$ 9,863	$ 8,786	$ 28,637	$ 25,593

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) $ in Thousands				1 Months Ended		2 Months Ended	9 Months Ended
	Nov. 16, 2021 USD ($) shares	Aug. 16, 2021 USD ($)	May 17, 2021 USD ($)	Sep. 15, 2021 USD ($) shares	Jun. 09, 2021 USD ($) shares	Mar. 03, 2022 USD ($) shares	Sep. 30, 2022 USD ($) Vote	Sep. 30, 2021 USD ($)
Class Of Stock [Line Items]
Number of votes per common share | Vote							1
Proceeds from offering							$ 28,628	$ 113,988
At the market offering
Class Of Stock [Line Items]
Aggregate offering price		$ 125,000	$ 75,000
Common shares issued in a public offering | shares	731,292			9,379,976	13,492,231	13,870,410
Gross proceeds from offering	$ 3,100			$ 43,000	$ 75,000	$ 29,800
Proceeds from offering	$ 3,000			$ 41,500	$ 72,500	$ 28,600

Stockholders' Equity - Accumula

Stockholders' Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accumulated Other Comprehensive Loss
Beginning balance	$ (41,837)	$ (44,370)	$ (43,430)	$ (44,304)
Other comprehensive income (loss)	932	415	2,525	349
Total before tax	(40,905)	(43,955)	(40,905)	(43,955)
Tax effect	0	0
Ending balance	(40,905)	(43,955)	(40,905)	(43,955)
Reclassifications out of accumulated other comprehensive loss	0	0	0	0
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Loss
Beginning balance	(41,698)	(44,231)	(43,291)	(44,165)
Other comprehensive income (loss)	932	415	2,525	349
Total before tax	(40,766)	(43,816)	(40,766)	(43,816)
Tax effect	0	0
Ending balance	(40,766)	(43,816)	(40,766)	(43,816)
Unrealized Losses
Accumulated Other Comprehensive Loss
Beginning balance	(139)	(139)	(139)	(139)
Total before tax	(139)	(139)	(139)	(139)
Tax effect	0	0
Ending balance	$ (139)	$ (139)	$ (139)	$ (139)

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award
Share-based compensation expense, tax benefit recognized	$ 0	$ 0	$ 0	$ 0
Closing stock price	$ 1.19		$ 1.19
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	$ 3.4		$ 3.4
Unrecognized stock-based compensation expense related to non-vested options and/or RSUs, weighted-average remaining vesting period			1 year 8 months 12 days
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award
Unrecognized stock-based compensation expense related to non-vested options and/or RSUs, weighted-average remaining vesting period			1 year 7 months 6 days
Unrecognized stock-based compensation expense related to unvested RSUs	$ 17.9		$ 17.9

Share-Based Compensation - Shar

Share-Based Compensation - Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-Based Compensation Expense Recognized in Accompanying Statements of Operations
Total Share-based compensation expense	$ 4,890	$ 7,001	$ 16,924	$ 18,402
Research and development
Share-Based Compensation Expense Recognized in Accompanying Statements of Operations
Total Share-based compensation expense	2,359	3,382	8,094	9,732
General and administrative
Share-Based Compensation Expense Recognized in Accompanying Statements of Operations
Total Share-based compensation expense	$ 2,531	$ 3,619	$ 8,830	$ 8,670

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Stock Options Activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares
Share-Based Compensation
Beginning Balance, Number of Options Outstanding | shares	7,010,039
Granted, Number of Options | shares	548,250
Forfeited, Number of Options | shares	(565,579)
Ending Balance, Number of Options Outstanding | shares	6,992,710
Vested and expected to vest, Number of Options Outstanding | shares	6,845,679
Vested and exercisable, Number of Options Outstanding | shares	5,906,119
Beginning Balance, Weighted Average Exercise Price | $ / shares	$ 33.36
Granted, Weighted Average Exercise Price | $ / shares	1.95
Forfeited, Weighted Average Exercise Price | $ / shares	26.50
Ending Balance, Weighted Average Exercise Price | $ / shares	31.45
Vested and expected to vest, Weighted Average Exercise Price | $ / shares	32.05
Vested and exercisable, Weighted Average Exercise Price | $ / shares	$ 36.34
Outstanding, Weighted Average Remaining Contractual Term (Years)	5 years 2 months 12 days
Vested and expected to vest, Weighted Average Remaining Contractual Term (Years)	5 years 1 month 6 days
Vested and exercisable, Weighted Average Remaining Contractual Term (Years)	4 years 7 months 6 days
Outstanding, Aggregate Intrinsic Value | $	$ 3
Vested and expected to vest, Aggregate Intrinsic Value | $	$ 3

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	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-Based Compensation
Weighted-average grant date fair value per share	$ 1.67	$ 4.09	$ 1.47	$ 4.75
Intrinsic value of options exercised				$ 15
Cash received from stock option exercises				$ 35

Share-Based Compensation - RSUs

Share-Based Compensation - RSUs Activity (Details) - Restricted Stock Units (RSUs)	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award
Number of Units, Unvested as of Beginning Balance | shares	3,683,422
Number of Units, Granted | shares	2,766,899
Number of Units, Vested | shares	(1,568,041)
Number of Units, Forfeited | shares	(493,874)
Number of Units, Unvested as of Ending Balance | shares	4,388,406
Expected to vest after September 30, 2022 | shares	3,784,992
Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 8.36
Weighted Average Grant Date Fair Value, Granted | $ / shares	1.95
Weighted Average Grant Date Fair Value, Vested | $ / shares	9.15
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	4.72
Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	4.44
Weighted Average Grant Date Fair Value, Expected to vest after September, 2022 | $ / shares	$ 4.64

License Agreements (Details)

License Agreements (Details) $ in Millions		1 Months Ended							9 Months Ended	12 Months Ended	60 Months Ended
	Nov. 19, 2013 USD ($)	Sep. 30, 2021 USD ($)	Apr. 30, 2021 USD ($)	Dec. 31, 2020 item	Feb. 29, 2020 item	Sep. 30, 2019 USD ($)	Jun. 30, 2011 USD ($)	Oct. 31, 2008	Sep. 30, 2022 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2020 USD ($)
License Agreements
Number of INDs | item				2
Rucaparib
License Agreements
Deferred royalty payable									$ 4.3
3B Pharmaceuticals
License Agreements
Percentage of non-royalty consideration payable on sublicense agreements									34%
License Agreements Licensor Pfizer | Rucaparib | Minimum
License Agreements
Annual sales target for sales milestone payments									$ 250
License Agreements Licensor Pfizer | Rucaparib | Maximum
License Agreements
Maximum potential future development, regulatory milestone payments									8
Additional maximum payments payable on attaining the sales target									$ 170
License Agreement Terms | 3B Pharmaceuticals
License Agreements
Milestone payments		$ 3.3	$ 2.2
Acquired in-process research and development						$ 9.4
Number of INDs | item				2
Number of additional undisclosed targets | item					3
Research and development expense										$ 2.1
Percentage of royalty on net sales									6%
License Agreement Terms | License Agreements Licensor Pfizer | Rucaparib
License Agreements
Upfront payment							$ 7
Milestones paid to Pfizer prior to FDA approval							$ 1.4
Milestone payments											$ 82.5
License Agreement Terms | Advenchen Laboratories LLC | License Agreements Lucitanib
License Agreements
Percentage of non-royalty consideration payable on sublicense agreements								25%
Milestone payment obligation	$ 65

Net Loss Per Common Share (Deta

Net Loss Per Common Share (Details) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share
Total potential dilutive shares	29,326	28,998
Common shares under stock incentive plans
Antidilutive Securities Excluded From Computation Of Earnings Per Share
Total potential dilutive shares	4,398	4,070
Convertible senior notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share
Total potential dilutive shares	24,928	24,928

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions				9 Months Ended
	Jun. 16, 2021 USD ($)	Nov. 10, 2019 plaintiff	Jun. 20, 2017 patent	Sep. 30, 2022 USD ($)
Commitments and Contingencies
Purchase commitments				$ 31.3
Payments on derecognition of lease components	$ 1.1
Number of patents in salt and polymorph patent family | patent			2
Number of opponents | plaintiff		1
Number of years regulatory exclusivity in Europe				10 years
Number of years possible additional regulatory exclusivity				1 year

Segment Information - Reportabl

Segment Information - Reportable segments (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Product revenue	$ 30,663			$ 37,916			$ 97,052	$ 112,789
Product revenue - extensible list	Product			Product			Product	Product
Operating expenses:
Research and development	$ 30,787			$ 46,222			$ 109,463	$ 144,786
Selling, general and administrative	30,380			32,196			92,183	95,055
Acquired in-process research and development				3,272				5,477
Other operating expenses	5,123			3,841			22,146	11,431
Total expenses	74,898			95,380			251,028	285,845
Operating loss	(44,235)			(57,464)			(153,976)	(173,056)
Other income (expense):
Interest expense	(9,863)			(8,786)			(28,637)	(25,593)
Foreign currency loss	(2,073)			(1,248)			(5,540)	(2,001)
Other income	192			101			511	392
Other income (expense), net	(11,744)			(9,933)			(33,666)	(27,202)
Loss before income taxes	(55,979)			(67,397)			(187,642)	(200,258)
Income tax (expense) benefit	(35)			(13)			127	125
Net loss	(56,014)	$ (71,332)	$ (60,169)	(67,410)	$ (66,448)	$ (66,277)	(187,515)	(200,133)
Product
Operating expenses:
Cost of sales	7,265			8,506			23,207	25,068
Intangible asset amortization
Operating expenses:
Cost of sales	1,343			1,343			4,029	4,028
U.S.
Segment Reporting Information [Line Items]
Product revenue	$ 23,019			$ 28,699			$ 70,262	$ 88,080
Product revenue - extensible list	Product			Product			Product	Product
Operating expenses:
Research and development	$ 29,122			$ 44,309			$ 103,996	$ 138,913
Selling, general and administrative	25,872			26,685			76,365	77,357
Acquired in-process research and development				3,272				5,477
Other operating expenses	5,123			3,841			22,146	11,431
Total expenses	65,224			84,215			218,150	252,085
Operating loss	(42,205)			(55,516)			(147,888)	(164,005)
U.S. | Product
Operating expenses:
Cost of sales	4,487			5,488			13,782	17,047
U.S. | Intangible asset amortization
Operating expenses:
Cost of sales	620			620			1,861	1,860
ex U.S.
Segment Reporting Information [Line Items]
Product revenue	$ 7,644			$ 9,217			$ 26,790	$ 24,709
Product revenue - extensible list	Product			Product			Product	Product
Operating expenses:
Research and development	$ 1,665			$ 1,913			$ 5,467	$ 5,873
Selling, general and administrative	4,508			5,511			15,818	17,698
Total expenses	9,674			11,165			32,878	33,760
Operating loss	(2,030)			(1,948)			(6,088)	(9,051)
ex U.S. | Product
Operating expenses:
Cost of sales	2,778			3,018			9,425	8,021
ex U.S. | Intangible asset amortization
Operating expenses:
Cost of sales	$ 723			$ 723			$ 2,168	$ 2,168