Clovis Oncology (CLVSQ) 10-Q 9 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 29, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	CLVS
Entity Registrant Name	CLOVIS ONCOLOGY, INC.
Entity Central Index Key	1,466,301
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		38,501,077

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Operating expenses:
Research and development	$ 67,729	$ 60,368	$ 142,337	$ 117,118
General and administrative	9,552	7,204	19,379	13,955
Acquired in-process research and development	300		300
Impairment of intangible asset	104,517		104,517
Change in fair value of contingent purchase consideration	(25,452)	764	(24,936)	1,488
Total expenses	156,646	68,336	241,597	132,561
Operating loss	(156,646)	(68,336)	(241,597)	(132,561)
Other income (expense):
Interest expense	(2,106)	(2,097)	(4,210)	(4,172)
Foreign currency gains (losses)	183	(1,142)	(368)	2,105
Other income	196	62	221	73
Other expense, net	(1,727)	(3,177)	(4,357)	(1,994)
Loss before income taxes	(158,373)	(71,513)	(245,954)	(134,555)
Income tax benefit (expense)	29,059	(18)	33,240	(120)
Net loss	$ (129,314)	$ (71,531)	$ (212,714)	$ (134,675)
Basic and diluted net loss per common share	$ (3.37)	$ (2.10)	$ (5.54)	$ (3.96)
Basic and diluted weighted-average common shares outstanding	38,389	34,088	38,375	34,049

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (129,314)	$ (71,531)	$ (212,714)	$ (134,675)
Other comprehensive income (loss)
Foreign currency translation adjustments, net of tax	(1,381)	8,313	2,132	(17,602)
Net unrealized gain on available-for-sale securities, net of tax	48	53	278	141
Other comprehensive income (loss)	(1,333)	8,366	2,410	(17,461)
Comprehensive loss	$ (130,647)	$ (63,165)	$ (210,304)	$ (152,136)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 228,379	$ 278,756
Available-for-sale securities	150,122	249,832
Prepaid research and development expenses	14,477	3,377
Other current assets	6,559	7,736
Total current assets	399,537	539,701
Property and equipment, net	4,974	4,946
Intangible assets		101,500
Goodwill	60,606	59,327
Other assets	2,868	7,912
Total assets	467,985	713,386
Current liabilities:
Accounts payable	15,008	11,260
Accrued research and development expenses	46,337	53,011
Other accrued expenses	11,511	11,305
Total current liabilities	72,856	75,576
Contingent purchase consideration	0	24,661
Deferred income taxes, net	333	31,133
Convertible senior notes	280,501	279,885
Deferred rent, long-term	1,463	1,481
Total liabilities	355,153	412,736
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 June 30, 2016 and December 31, 2015
Common stock, $0.001 par value per share, 100,000,000 shares authorized at June 30, 2016 and December 31, 2015; 38,500,588 and 38,359,454 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively	39	38
Additional paid-in capital	1,152,463	1,129,978
Accumulated other comprehensive loss	(45,050)	(47,460)
Accumulated deficit	(994,620)	(781,906)
Total stockholders' equity	112,832	300,650
Total liabilities and stockholders' equity	$ 467,985	$ 713,386

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	38,500,588	38,359,454
Common stock, shares outstanding	38,500,588	38,359,454

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Operating activities
Net loss	$ (212,714)	$ (134,675)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation expense	20,542	17,052
Depreciation and amortization	550	351
Amortization of premiums and discounts on available-for-sale securities	151	975
Amortization of debt issuance costs	616	598
Impairment of intangible asset	104,517
Change in fair value of contingent purchase consideration	(24,661)	(878)
Loss on disposal of property and equipment	170
Deferred income taxes	(33,207)
Changes in operating assets and liabilities:
Prepaid and accrued research and development expenses	(12,772)	10,029
Other operating assets	1,260	(2,758)
Accounts payable	3,608	2,338
Other accrued expenses	270	1,337
Net cash used in operating activities	(151,670)	(105,631)
Investing activities
Purchases of property and equipment	(756)	(1,006)
Purchases of available-for-sale securities		(142,216)
Maturities of available-for-sale securities	100,000
Net cash provided by (used in) investing activities	99,244	(143,222)
Financing activities
Proceeds from the exercise of stock options and employee stock purchases	1,943	3,073
Net cash provided by financing activities	1,943	3,073
Effect of exchange rate changes on cash and cash equivalents	106	(636)
Decrease in cash and cash equivalents	(50,377)	(246,416)
Cash and cash equivalents at beginning of period	278,756	482,677
Cash and cash equivalents at end of period	228,379	236,261
Supplemental disclosure of cash flow information:
Cash paid for interest	$ 3,594	$ 3,714

Nature of Business and Basis of

Nature of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of Business and Basis of Presentation	1. Nature of Business and Basis of Presentation Clovis Oncology, Inc. (the “Company”) is a biopharmaceutical company focused on acquiring, developing and commercializing cancer treatments in the United States, Europe and other international markets. The Company has and intends to continue to license or acquire rights to oncology compounds in all stages of development. In exchange for the right to develop and commercialize these compounds, the Company generally expects to provide the licensor with a combination of upfront payments, milestone payments and royalties on future sales. In addition, the Company generally expects to assume the responsibility for future drug development and commercialization costs. The Company currently operates in one segment. Since inception, the Company’s operations have consisted primarily of developing in-licensed compounds, evaluating new product acquisition candidates and general corporate activities. 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, consisting only of normal recurring adjustments, except for those discussed in the following footnotes, which in the opinion of management are necessary to fairly state our financial position, results of operations and cash flows for the periods presented. 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 (“U.S. GAAP”) have been condensed or omitted pursuant to the rules and regulations of the U.S. 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 Annual Report on Form 10-K for the year ended December 31, 2015 for a broader discussion of our business and the opportunities and risks inherent in such business. Reclassifications Certain reclassifications have been made to prior year amounts to conform to the current year presentation. These reclassifications had no effect on the Company’s previously reported results of operations, financial position or cash flows. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, expenses and revenue and related disclosures. On an ongoing basis, management evaluates its estimates, including estimates related to contingent purchase consideration, the allocation of purchase consideration, intangible asset impairment, clinical trial accruals and share-based compensation expense. The Company bases its estimates on historical experience and other market-specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results may differ from those estimates or assumptions. Liquidity The Company has incurred significant net losses since inception and has relied on its ability to fund its operations through debt and equity financings. Management expects operating losses and negative cash flows to continue for the foreseeable future. As the Company continues to incur losses, transition to profitability is dependent upon the successful development, approval and commercialization of its product candidates and achieving a level of revenues adequate to support the Company’s cost structure. The Company may never achieve profitability, and unless or until it does, the Company will continue to need to raise additional cash. Management intends to fund future operations through additional private or public debt or equity offerings and may seek additional capital through arrangements with strategic partners or from other sources. Based on current estimates, management believes that existing working capital at June 30, 2016 is sufficient to meet the cash requirements to fund planned operations through at least the next 12 months, although there can be no assurance that this can, in fact, be accomplished.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note 2 of the Notes to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. Recently Issued Accounting Standards In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” ASU No. 2016-09 requires all income tax effects of awards to be recognized in the income statement when the awards vest or are settled. The guidance also requires the presentation of excess tax benefits as an operating activity on the statement of cash flows rather than as a financing activity. This update is effective for annual periods beginning after December 15, 2016, including interim periods within those annual periods. Early adoption is permitted. Amendments related to the timing of when excess tax benefits are recognized should be applied using a modified retrospective transition method. An entity may elect to apply the amendments related to the presentation of excess tax benefits on the statement of cash flows using either a prospective transition method or a retrospective transition method.

EOS Acquisition

EOS Acquisition	6 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
EOS Acquisition	3. EOS Acquisition On November 19, 2013, the Company acquired all of the outstanding common and preferred stock of Ethical Oncology Science, S.p.A. (“EOS”) (now known as Clovis Oncology Italy S.r.l.). The Company paid $11.8 million in cash and issued $173.7 million of common stock at the acquisition date and is obligated to pay additional future cash payments if certain lucitanib regulatory and sales milestones are achieved. The potential contingent milestone payments range from a zero payment, which assumes lucitanib fails to achieve any of the regulatory milestones, to approximately $193.2 million ($65.0 million and €115.0 million) if all regulatory and sales milestones are met, utilizing the translation rate at June 30, 2016. During the second quarter of 2016, the Company recorded a $25.5 million reduction in the fair value of the contingent purchase consideration liability due to the Company’s and its development partner’s decision to discontinue the development of lucitanib for breast cancer (see Note 4). At June 30, 2016, the contingent purchase consideration liability recorded on the Consolidated Balance Sheets was zero due to the uncertainty of achieving any of the lucitanib regulatory milestones. At December 31, 2015, the liability for the estimated fair value of the payments recorded on the Consolidated Balance Sheets was $24.7 million.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value Measurements	4. Financial Instruments and Fair Value Measurements Cash, Cash Equivalents and Available-for-Sale Securities The Company considers all highly liquid investments with original maturities at the date of purchase of three months or less to be cash equivalents. Cash and cash equivalents include bank demand deposits and money market funds that invest primarily in certificate of deposits, commercial paper and U.S. government and U.S. government agency obligations. Marketable securities are considered to be available-for-sale securities and consist of U.S. Treasury securities. Available-for-sale securities are reported at fair value on the Consolidated Balance Sheets and unrealized gains and losses are included in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets. Realized gains and losses, amortization of premiums and discounts and interest and dividends earned are included in other income (expense) on the Consolidated Statements of Operations. The cost of investments for purposes of computing realized and unrealized gains and losses is based on the specific identification method. Investments with maturities beyond one year are classified as short-term based on management’s intent to fund current operations with these securities or to make them available for current operations. A decline in the market value of a security below its cost that is deemed to be other than temporary is charged to earnings and results in the establishment of a new cost basis for the security. Factors evaluated to determine if an investment is other-than-temporarily impaired include significant deterioration in earnings performance, credit rating, asset quality or business prospects of the issuer; adverse changes in the general market conditions in which the issuer operates; and the Company’s intent and ability to hold the security until an anticipated recovery in value occurs. 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. The Company’s Level 1 assets consist of money market investments. The Company does 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. The Company’s Level 2 assets consist of U.S. treasury securities. The Company does not have Level 2 liabilities. Level 3: Unobservable inputs that are supported by little or no market activity. The Company does not have Level 3 assets that are measured at fair value on a recurring basis. The contingent purchase consideration related to the undeveloped lucitanib product rights acquired with the purchase of EOS is a Level 3 liability. The fair value of this liability is based on unobservable inputs and includes valuations for which there is little, if any, market activity. See Note 3 of the Company’s 2015 Form 10-K for further discussion of the unobservable inputs and valuation techniques related to the contingent purchase consideration liability. The following table identifies the Company’s assets and liabilities that were measured at fair value on a recurring basis (in thousands): Balance Level 1 Level 2 Level 3 June 30, 2016 Assets: Money market $ 201,711 $ 201,711 $ — $ — U.S. treasury securities 150,122 — 150,122 — Total assets at fair value $ 351,833 $ 201,711 $ 150,122 $ — Liabilities: Contingent purchase consideration $ — $ — $ — $ — Total liabilities at fair value $ — $ — $ — $ — December 31, 2015 Assets: Money market $ 251,037 $ 251,037 $ — $ — U.S. treasury securities 249,832 — 249,832 — Total assets at fair value $ 500,869 $ 251,037 $ 249,832 $ — Liabilities: Contingent purchase consideration $ 24,661 $ — $ — $ 24,661 Total liabilities at fair value $ 24,661 $ — $ — $ 24,661 There were no transfers between the Level 1 and Level 2 categories or into or out of the Level 3 category during the six months ended June 30, 2016. The following table rolls forward the fair value of Level 3 instruments (significant unobservable inputs) (in thousands): For the Six Months Ended June 30, 2016 Liabilities: Balance at beginning of period $ 24,661 Change in fair value (a) (24,936 ) Change in foreign currency gains and losses 275 Balance at end of period $ — (a) During the second quarter of 2016, the Company recorded a $25.5 million reduction in the fair value of the contingent purchase consideration due to the Company’s and its development partner’s decision to discontinue the development of lucitanib for breast cancer. At June 30, 2016, the contingent purchase consideration liability recorded on the Consolidated Balance Sheets was zero due to the uncertainty of achieving any of the lucitanib regulatory milestones. The change in the fair value of Level 3 instruments is included in change in fair value of contingent purchase consideration and foreign currency gains (losses) for changes in the foreign currency translation rate on the Consolidated Statements of Operations. Assets measured at fair value on a nonrecurring basis include the Company’s in-process research and development (“IPR&D”) intangible assets, which were recorded as part of the acquisition of EOS (see Note 3 and Note 7). The fair value of the IPR&D intangible assets was established based upon discounted cash flow models using assumptions related to the timing of development, probability of development and regulatory success, sales and commercialization factors and estimated product life. As the valuation is based on significant unobservable inputs, the fair value measurement is classified as Level 3. IPR&D assets are evaluated for impairment at least annually or more frequently if impairment indicators exist. During the second quarter of 2016, the Company recorded a $104.5 million impairment charge due to the Company’s and its development partner’s decision to discontinue the development of lucitanib for breast cancer. At June 30, 2016, the IPR&D intangible asset recorded on the Consolidated Balance Sheets was zero. Financial instruments not recorded at fair value include the Company’s convertible senior notes. At June 30, 2016, the carrying amount of the convertible senior notes was $287.5 million, which represents the aggregate principal amount, and the fair value was $207.7 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 Notes, which are not listed on any securities exchange or quoted on an inter-dealer automated quotation system. See Note 9 for discussion of the convertible senior notes.

Available-for-Sale Securities

Available-for-Sale Securities	6 Months Ended
	Jun. 30, 2016
Available For Sale Securities [Abstract]
Available-for-Sale Securities	5. Available-for-Sale Securities As of June 30, 2016, available-for-sale securities consisted of the following (in thousands): Gross Gross Aggregate Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. treasury securities $ 150,064 $ 60 $ (2 ) $ 150,122 As of December 31, 2015, available-for-sale securities consisted of the following (in thousands): Gross Gross Aggregate Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. treasury securities $ 250,215 $ — $ (383 ) $ 249,832 As of June 30, 2016, the fair value and gross unrealized losses of available-for-sale securities that have been in a continuous unrealized loss position for less than 12 months were as follows (in thousands): Aggregate Gross Fair Unrealized Value Losses U.S. treasury securities $ 25,001 $ (2 ) As of June 30, 2016, one of the Company’s investments has been in an unrealized loss position for two months. Based upon our evaluation of all relevant factors, we believe that the decline in fair value of securities held at June 30, 2016 below cost is temporary, and we intend to retain our investment in these securities for a sufficient period of time to allow for recovery of the fair value. As of December 31, 2015, the fair value and gross unrealized losses of available-for-sale securities that have been in a continuous unrealized loss position for less than 12 months were as follows (in thousands): Aggregate Gross Fair Unrealized Value Losses U.S. treasury securities $ 249,832 $ (383 ) As of June 30, 2016, the amortized cost and fair value of available-for-sale securities by contractual maturity were (in thousands): Amortized Fair Cost Value Due in one year or less $ 150,064 $ 150,122 Total $ 150,064 $ 150,122

Other Current Assets

Other Current Assets	6 Months Ended
	Jun. 30, 2016
Other Current Assets [Abstract]
Other Current Assets	6. Other Current Assets Other current assets were comprised of the following (in thousands): June 30, December 31, 2016 2015 Receivable from partners $ 2,749 $ 3,241 Prepaid expenses- other 1,779 1,023 Receivable - other 1,035 889 Prepaid insurance 764 1,231 Receivable from landlord 122 1,153 Other 110 199 Total $ 6,559 $ 7,736

Intangible Assets and Goodwill

Intangible Assets and Goodwill	6 Months Ended
	Jun. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	7. Intangible Assets and Goodwill IPR&D intangible assets and goodwill were established as part of the purchase accounting of EOS (see Note 3) and consisted of the following (in thousands): June 30, December 31, 2016 2015 IPR&D intangible assets: Balance at beginning of period $ 101,500 $ 212,900 Impairment of intangible asset (a) (104,517 ) (89,557 ) Change in foreign currency gains (losses) 3,017 (21,843 ) Balance at end of period $ — $ 101,500 Goodwill: Balance at beginning of period $ 59,327 $ 66,055 Change in foreign currency gains (losses) 1,279 (6,728 ) Balance at end of period $ 60,606 $ 59,327 (a) During the second quarter of 2016, the Company recorded a $104.5 million impairment charge due to the Company’s and its development partner’s decision to discontinue the development of lucitanib for breast cancer. At June 30, 2016, the IPR&D intangible asset recorded on the Consolidated Balance Sheets was zero. During the fourth quarter of 2015, the Company recorded an $89.6 million impairment charge due to the Company’s and its development partner’s decision to discontinue the development of lucitanib for lung cancer, as well as updates to the probability-weighted discounted cash flow assumptions for the breast cancer indication. IPR&D intangible assets are evaluated for impairment at least annually in the fourth quarter or more frequently if impairment indicators exist and any reduction in fair value is recorded as impairment of intangible asset on the Consolidated Statements of Operations. As part of the acquisition of EOS, the Company recorded a deferred tax liability to recognize the difference between the book and tax basis of the assets and liabilities acquired. During the first quarter of 2016, the Company updated the annual effective tax rate to reflect a reduction in the statutory rate of the foreign jurisdiction, resulting in the recognition of a $3.6 million income tax benefit. During the second quarter of 2016, the Company recognized a $29.2 million deferred tax benefit associated with the impairment of the IPR&D intangible asset.

Other Accrued Expenses

Other Accrued Expenses	6 Months Ended
	Jun. 30, 2016
Payables And Accruals [Abstract]
Other Accrued Expenses	8. Other Accrued Expenses Other accrued expenses were comprised of the following (in thousands): June 30, December 31, 2016 2015 Accrued personnel costs $ 8,081 $ 8,250 Accrued interest payable 2,096 2,096 Accrued expenses - other 1,334 959 Total $ 11,511 $ 11,305

Convertible Senior Notes

Convertible Senior Notes	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Convertible Senior Notes	9. Convertible Senior Notes On September 9, 2014, we completed a private placement of $287.5 million aggregate principal amount of 2.5% convertible senior notes due 2021 (the “Notes”) resulting in net proceeds to the Company of $278.3 million after deducting offering expenses. In accordance with the accounting guidance, the conversion feature did not meet the criteria for bifurcation, and the entire principal amount was recorded as a long-term liability on the Consolidated Balance Sheets. The Notes are governed by the terms of the indenture between the Company, as issuer, and The Bank of New York Mellon Trust Company, N.A., as trustee. The Notes are senior unsecured obligations and bear interest at a rate of 2.5% per year, payable semi-annually in arrears on March 15 and September 15 of each year. The Notes will mature on September 15, 2021, unless earlier converted, redeemed or repurchased. Holders may convert all or any portion of the Notes at any time prior to the close of business on the business day immediately preceding the maturity date. Upon conversion, the holders will receive shares of our common stock at an initial conversion rate of 16.1616 shares per $1,000 in principal amount of Notes, equivalent to a conversion price of approximately $61.88 per share. The conversion rate is subject to adjustment upon the occurrence of certain events described in the indenture, but will not be adjusted for any accrued and unpaid interest. In addition, following certain corporate events that occur prior to the maturity date or upon our issuance of a notice of redemption, we will increase the conversion rate for holders who elect to convert the Notes in connection with such a corporate event or during the related redemption period in certain circumstances. On or after September 15, 2018, we may redeem the Notes, at our option, in whole or in part, if the last reported sale price of our common stock has been at least 150% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending not more than two trading days preceding the date on which we provide written notice of redemption at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the Notes. If we undergo a fundamental change, as defined in the indenture, prior to the maturity date of the Notes, holders may require us to repurchase for cash all or any portion of the Notes at a fundamental change repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. The Notes rank senior in right of payment to any of our indebtedness that is expressly subordinated in right of payment to the Notes; equal in right of payment to all of our liabilities that are not so subordinated; effectively junior in right of payment to any secured indebtedness to the extent of the value of the assets securing such indebtedness; and structurally junior to all indebtedness and other liabilities (including trade payables) of our subsidiaries. In connection with the issuance of the Notes, the Company incurred $9.2 million of debt issuance costs. The debt issuance costs are presented as a deduction from convertible senior notes on the Consolidated Balance Sheets and are amortized as interest expense over the expected life of the Notes using the effective interest method. The Company determined the expected life of the debt was equal to the seven-year term of the Notes. As of June 30, 2016 and December 31, 2015, the balance of unamortized debt issuance costs was $7.0 million and $7.6 million, respectively . The following table sets forth total interest expense recognized related to the Notes during the three and six months ended June 30, 2016 and 2015 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Contractual interest expense $ 1,797 $ 1,797 $ 3,594 $ 3,574 Amortization of debt issuance costs 309 300 616 598 Total interest expense $ 2,106 $ 2,097 $ 4,210 $ 4,172

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Stockholders' Equity	10. Stockholders’ Equity Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) consists of changes in foreign currency translation adjustments, which includes changes in a subsidiary’s functional currency, and unrealized gains and losses on available-for-sale securities. The accumulated balances related to each component of other comprehensive income (loss) are summarized as follows (in thousands): Total Foreign Accumulated Currency Unrealized Other Translation Gains Comprehensive Adjustments (Losses) Income (Loss) Balance December 31, 2014 $ (24,448 ) $ — $ (24,448 ) Period change (22,629 ) (383 ) (23,012 ) Balance December 31, 2015 (47,077 ) (383 ) (47,460 ) Period change 3,410 441 3,851 Income tax expense (1,278 ) (163 ) (1,441 ) Balance June 30, 2016 $ (44,945 ) $ (105 ) $ (45,050 ) The period change between June 30, 2016 and December 31, 2015 was primarily due to the currency translation of the IPR&D intangible assets, goodwill and deferred income taxes associated with the acquisition of EOS (see Note 3 and Note 7).

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
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 six months ended June 30, 2016 and 2015 was recognized in the accompanying Consolidated Statements of Operations as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Research and development $ 6,615 $ 5,355 $ 13,924 $ 10,759 General and administrative 2,962 3,015 6,618 6,293 Total share-based compensation expense $ 9,577 $ 8,370 $ 20,542 $ 17,052 The Company did not recognize a tax benefit related to share-based compensation expense during the three and six months ended June 30, 2016 and 2015, respectively, as the Company maintains net operating loss carryforwards and has established a valuation allowance against the entire net deferred tax asset as of June 30, 2016. The following table summarizes the activity relating to the Company’s options to purchase common stock for the six months ended June 30, 2016: Number of Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (Thousands) Outstanding at December 31, 2015 5,360,257 $ 51.53 Granted 768,265 20.61 Exercised (62,710 ) 6.50 Forfeited (840,077 ) 59.50 Outstanding at June 30, 2016 (a) 5,225,735 $ 46.25 7.2 $ 4,177 Vested and expected to vest at June 30, 2016 4,958,823 $ 45.84 7.1 $ 4,177 Exercisable at June 30, 2016 2,874,047 $ 39.26 5.9 $ 4,177 (a) Includes 42,500 performance-based stock options granted to executives of the Company in the first quarter of 2015, which vest contingent on approval by the U.S. Food and Drug Administration (“FDA”) to commercially distribute, sell or market rucaparib. Stock compensation expense will be recognized when the condition for vesting is probable of being met. The aggregate intrinsic value in the table above represents the pretax intrinsic value, based on our closing stock price of $13.72 as of June 30, 2016, which would have been received by the option holders had all option holders with in-the-money options exercised their options as of that date. The following table summarizes information about our stock options as of and for the three and six months ended June 30, 2016 and 2015: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Weighted-average grant date fair value per share $ 11.01 $ 55.35 $ 14.65 $ 51.49 Intrinsic value of options exercised $ 578,525 $ 4,966,707 $ 624,925 $ 10,053,841 Cash received from stock option exercises $ 352,423 $ 1,387,060 $ 407,523 $ 2,580,350 As of June 30, 2016, the unrecognized share-based compensation expense related to unvested options, adjusted for expected forfeitures, was $82.2 million and the estimated weighted-average remaining vesting period was 2.3 years. During the first quarter of 2016, the Company issued restricted stock units (“RSUs”) to certain employees under the 2011 Stock Incentive Plan. The RSUs vest over either a two-year period or over a four-year period and are payable in shares of the Company’s common stock at the end of the vesting period. RSUs are measured based on the fair value of the underlying stock on the grant date. Shares issued on the vesting dates are net of the minimum statutory tax to be paid by the Company on behalf of its employees. As a result, the actual number of shares issued will be lower than the actual number of RSUs vested. The following table summarizes the activity relating to the Company’s unvested RSUs for the six months ended June 30, 2016: Number of Units Weighted- Average Grant Date Fair Value Unvested as of December 31, 2015 — $ — Granted 146,503 19.37 Vested (a) (2,625 ) 19.37 Forfeited (18,080 ) 19.37 Unvested as of June 30, 2016 125,798 $ 19.37 Expected to vest after June 30, 2016 109,009 $ 19.37 (a) During the second quarter of 2016, the Company accelerated the vesting of RSUs for certain employees. As of June 30, 2016, the unrecognized share-based compensation expense related to unvested RSUs, adjusted for expected forfeitures, was $2.0 million and the estimated weighted-average remaining vesting period was 2.3 years.

License Agreements

License Agreements	6 Months Ended
	Jun. 30, 2016
Research And Development [Abstract]
License Agreements	12. License Agreements Rucaparib In June 2011, the Company entered into a worldwide license agreement with Pfizer Inc. to acquire exclusive development and commercialization rights to rucaparib. This drug candidate is a small molecule inhibitor of poly (ADP-ribose) polymerase (PARP), which the Company is developing for the treatment of selected solid tumors. Under the terms of the license agreement, the Company made a $7.0 million upfront payment to Pfizer. In April 2014, the Company initiated a pivotal registration study for rucaparib, which resulted in a $0.4 million milestone payment to Pfizer as required by the license agreement. This payment was recognized as acquired in-process research and development expense. The Company is responsible for all development and commercialization costs of rucaparib. When and if commercial sales of rucaparib begin, we will pay Pfizer tiered royalties on our net sales. In addition, Pfizer is eligible to receive up to $258.5 million of further payments, in aggregate, if certain development, regulatory and sales milestones are achieved, including $21.25 million associated with the first filing and approval of a New Drug Application (“NDA”) by the FDA. During the second quarter of 2016, we completed the submission of our NDA with the FDA for potential accelerated approval of rucaparib in the U.S. Lucitanib In connection with its acquisition of EOS (see Note 3), the Company gained rights to develop and commercialize lucitanib, an oral, selective tyrosine kinase inhibitor. As further described below, EOS licensed the worldwide rights, excluding China, to develop and commercialize lucitanib from Advenchen Laboratories LLC (“Advenchen”). Subsequently, rights to develop and commercialize lucitanib in markets outside the U.S. and Japan were sublicensed by EOS to Les Laboratoires Servier (“Servier”) in exchange for upfront milestone fees, royalties on sales of lucitanib in the sublicensed territories and research and development funding commitments. In October 2008, EOS entered into an exclusive license agreement with Advenchen to develop and commercialize lucitanib on a global basis, excluding China. The Company is obligated to pay Advenchen royalties on net sales of lucitanib based on the volume of annual net sales achieved. In addition, the Company is obligated to pay to Advenchen 25% of any consideration, excluding royalties, received pursuant to any sublicense agreements for lucitanib, including the agreement with Servier. In the first quarter of 2014, the Company recognized acquired in-process research and development expense of $3.4 million, which represents 25% of the sublicense agreement consideration of $13.6 million received from Servier upon the end of opposition and appeal of the lucitanib patent by the European Patent Office. In September 2012, EOS entered into a collaboration and license agreement with Servier whereby EOS sublicensed to Servier exclusive rights to develop and commercialize lucitanib in all countries outside of the U.S., Japan and China. In exchange for these rights, EOS received an upfront payment of €45.0 million and is entitled to receive additional payments upon achievement of specified development, regulatory and commercial milestones up to €90.0 million in the aggregate. In addition, the Company is entitled to receive sales milestone payments if specified annual sales targets for lucitanib are met, which, in the aggregate, could total €250.0 million. The Company is also entitled to receive royalties on sales of lucitanib by Servier. The development, regulatory and commercial milestones represent non-refundable amounts that would be paid by Servier to the Company if certain milestones are achieved in the future. These milestones, if achieved, are substantive as they relate solely to past performance, are commensurate with estimated enhancement of value associated with the achievement of each milestone as a result of the Company's performance, which are reasonable relative to the other deliverables and terms of the arrangement, and are unrelated to the delivery of any further elements under the arrangement. The Company and Servier are developing lucitanib pursuant to a development plan agreed to between the parties . The Company recorded a $2.7 million and $3.2 million receivable at June 30, 2016 and December 31, 2015, respectively, for the reimbursable development costs incurred under the global development plan, which is included in other current assets on the Consolidated Balance Sheets. For the three months ending June 30, 2016 and 2015, we incurred $2.6 million and $4.2 million, respectively, in research and development costs and recorded reductions in research and development expense of $2.8 million and $3.9 million, respectively, for reimbursable development costs due from Servier. For the six months ending June 30, 2016 and 2015, respectively, we incurred $6.2 million and $7.8 million, respectively, in research and development costs and recorded reductions in research and development expense of $6.4 million and $6.6 million, respectively, for reimbursable development costs due from Servier. Rociletinib In May 2010, we entered into an exclusive worldwide license agreement with Avila Therapeutics, Inc. (now Celgene Avilomics Research, Inc., part of Celgene Corporation (“Celgene”)) to discover, develop and commercialize a covalent inhibitor of mutant forms of the epidermal growth factor receptor gene product. Rociletinib was identified as the lead inhibitor candidate under the license agreement. We are responsible for all non-clinical, clinical, regulatory and other activities necessary to develop and commercialize rociletinib. We made an upfront payment of $2.0 million upon execution of the license agreement, a $4.0 million milestone payment in the first quarter of 2012 upon acceptance by the FDA of our Investigational New Drug application for rociletinib and a $5.0 million milestone payment in the first quarter of 2014 upon initiation of the Phase II study for rociletinib. In the third quarter of 2015, we made milestone payments totaling $12.0 million upon acceptance of the NDA and Marketing Authorization Application (“MAA”) for rociletinib by the FDA and European Medicines Agency (“EMA”), respectively. We recognized all payments as acquired in-process research and development expense. During the second quarter of 2016, the Company received a Complete Response Letter (“CRL”) from the FDA for the rociletinib NDA. The FDA issues a CRL to indicate that their review of an application is complete and that the application is not ready for approval. In anticipation of receiving the CRL, the Company terminated enrollment in all ongoing sponsored clinical studies, although it continues to provide drug to patients whose clinicians recommend continuing rociletinib therapy. In addition, the Company withdrew its MAA for rociletinib on file with the EMA. The Company is continuing analyses of rociletinib data to determine whether certain populations of patients may represent an opportunity for a partner committed to investing in further clinical development. We are obligated to pay royalties on net sales of rociletinib based on the volume of annual net sales achieved. The Company is required to pay up to an additional aggregate of $98.0 million in development and regulatory milestone payments if certain clinical study objectives and regulatory filings, acceptances and approvals are achieved. In addition, the Company is required to pay up to an aggregate of $120.0 million in sales milestone payments if certain annual sales targets are achieved.

Net Loss Per Common Share

Net Loss Per Common Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
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 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 Six Months Ended June 30, 2016 2015 Convertible senior notes 4,646 4,646 Common shares under option 455 4,898 Total potential dilutive shares 5,101 9,544

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	14. Commitments and Contingencies Royalty and License Fee Commitments The Company has entered into certain license agreements, as identified in Note 12, with third parties that include the payment of development and regulatory milestones, as well as royalty payments, upon the achievement of pre-established development, regulatory and commercial targets. The Company’s payment obligation related to these license agreements is contingent upon the successful development, regulatory approval and commercialization of the licensed products. Due to the nature of these arrangements, the future potential payments are inherently uncertain, and accordingly, no amounts have been recorded on the Company’s Consolidated Balance Sheets at June 30, 2016 and December 31, 2015. Development and Manufacturing Agreement Commitments In February 2013, the Company entered into a development and manufacturing agreement with a third-party supplier for the production of the active ingredient for rucaparib. Under the Development and Manufacturing Agreement, the Company will provide the third-party supplier a rolling 24-month forecast that will be updated by the Company on a quarterly basis. The Company is obligated to order the quantity specified in the first 12 months of any forecast. As of June 30, 2016, $16.5 million of purchase commitments exist under this agreement. Legal Proceedings The Company and certain of its officers and directors were named as defendants in several lawsuits, as described below. We cannot reasonably predict the outcome of these legal proceedings, nor can we estimate the amount of loss or range of loss, if any, that may result. An adverse outcome in these proceedings could have a material adverse effect on our results of operations, cash flows or financial condition. On November 19, 2015, Steve Kimbro, a purported shareholder of Clovis, filed a purported class action complaint (the “Kimbro Complaint”) against Clovis and certain of its officers in the United States District Court for the District of Colorado. The Kimbro Complaint purports to be asserted on behalf of a class of persons who purchased Clovis stock between October 31, 2013 and November 15, 2015. The Kimbro Complaint generally alleges that Clovis and certain of its officers violated federal securities laws by making allegedly false and misleading statements regarding the progress toward FDA approval and the potential for market success of rociletinib. The Kimbro Complaint seeks unspecified damages. Also on November 19, 2015, a second purported shareholder class action complaint was filed by Sonny P. Medina, another purported Clovis shareholder, containing similar allegations to those set forth in the Kimbro Complaint, also in the United States District Court for the District of Colorado (the “Medina Complaint”). The Medina Complaint purports to be asserted on behalf of a class of persons who purchased Clovis stock between May 20, 2014 and November 13, 2015. On November 20, 2015, a third complaint was filed by John Moran in the United States District Court for the Northern District of California (the “Moran Complaint”). The Moran Complaint contains similar allegations to those asserted in the Kimbro and Medina Complaints and purports to be asserted on behalf of a plaintiff class who purchased Clovis stock between October 31, 2013 and November 13, 2015. On December 14, 2015, Ralph P. Rocco, a fourth purported shareholder of Clovis, filed a complaint in the United States District Court for the District of Colorado (the “Rocco Complaint”). The Rocco Complaint contains similar allegations to those set forth in the previous complaints and purports to be asserted on behalf of a plaintiff class who purchased Clovis stock between October 31, 2013 and November 15, 2015. On January 19, 2016, a number of motions were filed in both the District of Colorado and the Northern District of California seeking to consolidate the shareholder class actions into one matter and for appointment of a lead plaintiff. All lead plaintiff movants other than M. Arkin (1999) LTD and Arkin Communications LTD (the “Arkin Plaintiffs”) subsequently filed notices of non-opposition to the Arkin Plaintiffs’ application. On February 2, 2016, the Arkin Plaintiffs filed a motion to transfer the Moran Complaint to the District of Colorado (the “Motion to Transfer”). Also on February 2, 2016, the defendants filed a statement in the Northern District of California supporting the consolidation of all actions in a single court, the District of Colorado. On February 3, 2016, the Northern District of California court denied without prejudice the lead plaintiff motions filed in that court pending a decision on the Motion to Transfer. On February 16, 2016, the defendants filed a memorandum in support of the Motion to Transfer, and plaintiff Moran filed a notice of non-opposition to the Motion to Transfer. On February 17, 2016, the Northern District of California court granted the Motion to Transfer. On February 18, 2016, the Medina court issued an opinion and order addressing the various motions for consolidation and appointment of lead plaintiff and lead counsel in the District of Colorado actions. By this ruling, the court consolidated the Medina, Kimbro and Rocco actions into a single proceeding. The court also appointed the Arkin Plaintiffs as the lead plaintiffs and Bernstein Litowitz Berger & Grossman as lead counsel for the putative class. On April 1, 2016, the Arkin Plaintiffs and the defendants filed a stipulated motion to set the schedule for the filing of a consolidated complaint in the Medina, Kimbro and Rocco actions (the “Consolidated Complaint”) and the responses thereto, including the defendants’ motion to dismiss the Consolidated Complaint (the “Motion to Dismiss”), and to stay discovery and related proceedings until the District of Colorado issues a decision on the Motion to Dismiss. The stipulated motion was entered by the District of Colorado on April 4, 2016. Subject to further agreed-upon extensions by the parties, the Arkin Plaintiffs filed a Consolidated Complaint on May 6, 2016. The Consolidated Complaint names as defendants the Company and certain of its current and former officers (the “Clovis Defendants”), certain underwriters (the “Underwriter Defendants”) for a Company follow-on offering conducted in July 2015 (the “July 2015 Offering”) and certain Company venture capital investors (the “Venture Capital Defendants”). The Consolidated Complaint alleges that defendants violated particular sections of the Securities Exchange Act of 1934 (the “Exchange Act”) and the Securities Act of 1933 (the “Securities Act”). The purported misrepresentations and omissions concern allegedly misleading statements about rociletinib. The putative class action is purportedly brought on behalf of investors who purchased the Company’s securities between May 31, 2014 and April 7, 2016 (with respect to the Exchange Act claims) and investors who purchased the Company’s securities pursuant or traceable to the July 2015 Offering (with respect to the Securities Act claims). The Consolidated Complaint seeks unspecified compensatory and recessionary damages. On May 23, 2016, the Medina, Kimbro, Rocco and Moran actions were consolidated for all purposes in a single proceeding in the District of Colorado. The Clovis Defendants, along with the Underwriter Defendants and the Venture Capital Defendants, filed a Motion to Dismiss on July 27, 2016; the Arkin Plaintiff’s opposition is due on September 23, 2016; and the defendants’ replies are due on October 14, 2016. The Clovis Defendants intend to vigorously defend against the allegations contained in the Kimbro, Medina, Moran and Rocco Complaints, but there can be no assurance that the defense will be successful. On December 30, 2015, Jamie McCall, a purported shareholder of Clovis, filed a shareholder derivative complaint (the “McCall Complaint”) against certain officers and directors of Clovis in the Colorado District Court, County of Boulder. The McCall Complaint generally alleged that the defendants breached their fiduciary duties owed to Clovis by participating in misrepresentation of the Company’s business operations and prospects. The McCall Complaint also alleged claims for abuse of control, gross mismanagement and unjust enrichment. The McCall Complaint sought, among other things, an award of money damages, declaratory and injunctive relief concerning the alleged fiduciary breaches and other forms of equitable relief. On March 17, 2016, the plaintiff filed a notice of voluntary dismissal of the McCall Complaint and the action was terminated by the Court. On January 22, 2016, the Electrical Workers Local #357 Pension and Health & Welfare Trusts, a purported shareholder of Clovis, filed a purported class action complaint (the “Electrical Workers Complaint”) against Clovis and certain of its officers, directors, investors and underwriters in the Superior Court of the State of California, County of San Mateo. The Electrical Workers Complaint purports to be asserted on behalf of a class of persons who purchased stock in Clovis’ July 8, 2015 follow-on offering. The Electrical Workers Complaint generally alleges that the defendants violated the Securities Act because the offering documents for the July 8, 2015 follow-on offering contained allegedly false and misleading statements regarding the progress toward FDA approval and the potential for market success of rociletinib. The Electrical Workers Complaint seeks unspecified damages. On February 25, 2016, the defendants removed the case to the United States District Court for the Northern District of California and thereafter moved to transfer the case to the District of Colorado (“Motion to Transfer”). On March 2, 2016, the plaintiff filed a motion to remand the case to San Mateo County Superior Court (“Motion to Remand”). Following briefing on the Motion to Transfer and the Motion to Remand, the Northern District of California held a hearing on April 18, 2016 concerning the Motion to Remand, at the conclusion of which the court granted to the Motion to Remand. On May 5, 2016, the Northern District of California issued a written decision and order granting the Motion to Remand the case to the Superior Court, County of San Mateo and denying the Motion to Transfer as moot. While the case was pending in the United States District Court for the Northern District of California, the parties entered into a stipulation extending the defendants’ time to respond to the Electrical Workers Complaint for 30 days following the filing of an amended complaint by plaintiff or the designation by plaintiff of the Electrical Workers Complaint as the operative complaint. Following remand, Superior Court of the State of California, County of San Mateo so-ordered the stipulation on June 22, 2016. On June 30, 2016, the Electrical Workers Plaintiffs filed an amended Complaint (the “Amended Complaint”). The Amended Complaint names as defendants the Company and certain of its current and former officers and directors, certain underwriters for the July 2015 Offering and certain Company venture capital investors. The Amended Complaint purports to assert claims under the Securities Act based upon alleged misstatements in Clovis’ offering documents for the July 2015 Offering. The Amended Complaint includes new allegations about the Company’s rociletinib disclosures. The Amended Complaint seeks unspecified damages. On July 28, 2016, the court ordered the following briefing schedule: defendants’ motion to stay the Electrical Workers action pending resolution of the Medina, Kimbro, Moran and Rocco actions in the District of Colorado (“Motion to Stay”) and demurrer to the Amended Complaint are due on August 15, 2016; plaintiff’s oppositions are due on August 31, 2016; and the defendants’ reply briefs are due on September 15, 2016. A hearing on both motions is scheduled for September 23, 2016. The Company intends to vigorously defend against the allegations contained in the Electrical Workers Amended Complaint, but there can be no assurance that the defense will be successful. On February 19, 2016, Maris Sanchez, a purported shareholder of Clovis, filed a shareholder derivative complaint (the “Sanchez Complaint”) against certain officers and directors of Clovis in the United States District Court for the District of Colorado. The Sanchez Complaint generally alleged that the defendants breached their fiduciary duties owed to Clovis by participating in misrepresentation of the Company’s business operations and prospects. The Sanchez Complaint also alleged claims for abuse of control and gross mismanagement. The Sanchez Complaint sought, among other things, an award of money damages. On March 11, 2016, the plaintiff filed a notice of voluntary dismissal of the Sanchez Complaint without prejudice. On March 14, 2016, the Sanchez action was terminated by the District of Colorado. The Company has received requests for information from governmental agencies relating to the Company’s regulatory update announcement in November 2015 that the FDA requested additional clinical data on the efficacy and safety of rociletinib. The Company is cooperating with the inquiries. The Company received a letter dated May 31, 2016 from an alleged owner of the Company’s common stock, which purports to set forth a demand for inspection of certain of the Company’s books and records pursuant to 8 Del. C.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events The Company evaluated events up to the filing date of these interim financial statements and determined that no subsequent activity required disclosure.

Nature of Business and Basis 22

Nature of Business and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
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, consisting only of normal recurring adjustments, except for those discussed in the following footnotes, which in the opinion of management are necessary to fairly state our financial position, results of operations and cash flows for the periods presented. 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 (“U.S. GAAP”) have been condensed or omitted pursuant to the rules and regulations of the U.S. 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 Annual Report on Form 10-K for the year ended December 31, 2015 for a broader discussion of our business and the opportunities and risks inherent in such business.
Reclassifications	Reclassifications Certain reclassifications have been made to prior year amounts to conform to the current year presentation. These reclassifications had no effect on the Company’s previously reported results of operations, financial position or cash flows.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, expenses and revenue and related disclosures. On an ongoing basis, management evaluates its estimates, including estimates related to contingent purchase consideration, the allocation of purchase consideration, intangible asset impairment, clinical trial accruals and share-based compensation expense. The Company bases its estimates on historical experience and other market-specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results may differ from those estimates or assumptions.
Liquidity	Liquidity The Company has incurred significant net losses since inception and has relied on its ability to fund its operations through debt and equity financings. Management expects operating losses and negative cash flows to continue for the foreseeable future. As the Company continues to incur losses, transition to profitability is dependent upon the successful development, approval and commercialization of its product candidates and achieving a level of revenues adequate to support the Company’s cost structure. The Company may never achieve profitability, and unless or until it does, the Company will continue to need to raise additional cash. Management intends to fund future operations through additional private or public debt or equity offerings and may seek additional capital through arrangements with strategic partners or from other sources. Based on current estimates, management believes that existing working capital at June 30, 2016 is sufficient to meet the cash requirements to fund planned operations through at least the next 12 months, although there can be no assurance that this can, in fact, be accomplished.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” ASU No. 2016-09 requires all income tax effects of awards to be recognized in the income statement when the awards vest or are settled. The guidance also requires the presentation of excess tax benefits as an operating activity on the statement of cash flows rather than as a financing activity. This update is effective for annual periods beginning after December 15, 2016, including interim periods within those annual periods. Early adoption is permitted. Amendments related to the timing of when excess tax benefits are recognized should be applied using a modified retrospective transition method. An entity may elect to apply the amendments related to the presentation of excess tax benefits on the statement of cash flows using either a prospective transition method or a retrospective transition method.
Cash, Cash Equivalents and Available-for-Sale Securities	Cash, Cash Equivalents and Available-for-Sale Securities The Company considers all highly liquid investments with original maturities at the date of purchase of three months or less to be cash equivalents. Cash and cash equivalents include bank demand deposits and money market funds that invest primarily in certificate of deposits, commercial paper and U.S. government and U.S. government agency obligations. Marketable securities are considered to be available-for-sale securities and consist of U.S. Treasury securities. Available-for-sale securities are reported at fair value on the Consolidated Balance Sheets and unrealized gains and losses are included in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets. Realized gains and losses, amortization of premiums and discounts and interest and dividends earned are included in other income (expense) on the Consolidated Statements of Operations. The cost of investments for purposes of computing realized and unrealized gains and losses is based on the specific identification method. Investments with maturities beyond one year are classified as short-term based on management’s intent to fund current operations with these securities or to make them available for current operations. A decline in the market value of a security below its cost that is deemed to be other than temporary is charged to earnings and results in the establishment of a new cost basis for the security. Factors evaluated to determine if an investment is other-than-temporarily impaired include significant deterioration in earnings performance, credit rating, asset quality or business prospects of the issuer; adverse changes in the general market conditions in which the issuer operates; and the Company’s intent and ability to hold the security until an anticipated recovery in value occurs.
Fair Value Measurements	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. The Company’s Level 1 assets consist of money market investments. The Company does 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. The Company’s Level 2 assets consist of U.S. treasury securities. The Company does not have Level 2 liabilities. Level 3: Unobservable inputs that are supported by little or no market activity. The Company does not have Level 3 assets that are measured at fair value on a recurring basis. The contingent purchase consideration related to the undeveloped lucitanib product rights acquired with the purchase of EOS is a Level 3 liability. The fair value of this liability is based on unobservable inputs and includes valuations for which there is little, if any, market activity. See Note 3 of the Company’s 2015 Form 10-K for further discussion of the unobservable inputs and valuation techniques related to the contingent purchase consideration liability.
Intangible Assets and Goodwill	IPR&D intangible assets are evaluated for impairment at least annually in the fourth quarter or more frequently if impairment indicators exist and any reduction in fair value is recorded as impairment of intangible asset on the Consolidated Statements of Operations
Convertible Senior Notes	The debt issuance costs are presented as a deduction from convertible senior notes on the Consolidated Balance Sheets and are amortized as interest expense over the expected life of the Notes using the effective interest method. The Company determined the expected life of the debt was equal to the seven-year term of the Notes.
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (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.
Share-Based Compensation	During the first quarter of 2016, the Company issued restricted stock units (“RSUs”) to certain employees under the 2011 Stock Incentive Plan. The RSUs vest over either a two-year period or over a four-year period and are payable in shares of the Company’s common stock at the end of the vesting period. RSUs are measured based on the fair value of the underlying stock on the grant date. Shares issued on the vesting dates are net of the minimum statutory tax to be paid by the Company on behalf of its employees. As a result, the actual number of shares issued will be lower than the actual number of RSUs vested.
Lucitanib	Reimbursements are recorded as a reduction to research and development expense on the Consolidated Statements of Operations.
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 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 Fai23

Financial Instruments and Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table identifies the Company’s assets and liabilities that were measured at fair value on a recurring basis (in thousands): Balance Level 1 Level 2 Level 3 June 30, 2016 Assets: Money market $ 201,711 $ 201,711 $ — $ — U.S. treasury securities 150,122 — 150,122 — Total assets at fair value $ 351,833 $ 201,711 $ 150,122 $ — Liabilities: Contingent purchase consideration $ — $ — $ — $ — Total liabilities at fair value $ — $ — $ — $ — December 31, 2015 Assets: Money market $ 251,037 $ 251,037 $ — $ — U.S. treasury securities 249,832 — 249,832 — Total assets at fair value $ 500,869 $ 251,037 $ 249,832 $ — Liabilities: Contingent purchase consideration $ 24,661 $ — $ — $ 24,661 Total liabilities at fair value $ 24,661 $ — $ — $ 24,661
Roll-forward of Fair Value of Level 3 Instruments (significant unobservable inputs)	The following table rolls forward the fair value of Level 3 instruments (significant unobservable inputs) (in thousands): For the Six Months Ended June 30, 2016 Liabilities: Balance at beginning of period $ 24,661 Change in fair value (a) (24,936 ) Change in foreign currency gains and losses 275 Balance at end of period $ — (a) During the second quarter of 2016, the Company recorded a $25.5 million reduction in the fair value of the contingent purchase consideration due to the Company’s and its development partner’s decision to discontinue the development of lucitanib for breast cancer. At June 30, 2016, the contingent purchase consideration liability recorded on the Consolidated Balance Sheets was zero due to the uncertainty of achieving any of the lucitanib regulatory milestones.

Available-for-Sale Securities (

Available-for-Sale Securities (Tables)	6 Months Ended
	Jun. 30, 2016
Available For Sale Securities [Abstract]
Summary of Available-for-Sale Securities	As of June 30, 2016, available-for-sale securities consisted of the following (in thousands): Gross Gross Aggregate Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. treasury securities $ 150,064 $ 60 $ (2 ) $ 150,122 As of December 31, 2015, available-for-sale securities consisted of the following (in thousands): Gross Gross Aggregate Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. treasury securities $ 250,215 $ — $ (383 ) $ 249,832
Summary of Fair Value and Gross Unrealized Losses of Available-for-Sale Securities in a Continuous Unrealized Loss Position	As of June 30, 2016, the fair value and gross unrealized losses of available-for-sale securities that have been in a continuous unrealized loss position for less than 12 months were as follows (in thousands): Aggregate Gross Fair Unrealized Value Losses U.S. treasury securities $ 25,001 $ (2 ) As of December 31, 2015, the fair value and gross unrealized losses of available-for-sale securities that have been in a continuous unrealized loss position for less than 12 months were as follows (in thousands): Aggregate Gross Fair Unrealized Value Losses U.S. treasury securities $ 249,832 $ (383 )
Summary of Amortized Cost and Fair Value of Available-for-Sale Securities by Contractual Maturity	As of June 30, 2016, the amortized cost and fair value of available-for-sale securities by contractual maturity were (in thousands): Amortized Fair Cost Value Due in one year or less $ 150,064 $ 150,122 Total $ 150,064 $ 150,122

Other Current Assets (Tables)

Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2016
Other Current Assets [Abstract]
Other Current Assets	Other current assets were comprised of the following (in thousands): June 30, December 31, 2016 2015 Receivable from partners $ 2,749 $ 3,241 Prepaid expenses- other 1,779 1,023 Receivable - other 1,035 889 Prepaid insurance 764 1,231 Receivable from landlord 122 1,153 Other 110 199 Total $ 6,559 $ 7,736

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	6 Months Ended
	Jun. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of IPR&D Intangible Assets and Goodwill	June 30, December 31, 2016 2015 IPR&D intangible assets: Balance at beginning of period $ 101,500 $ 212,900 Impairment of intangible asset (a) (104,517 ) (89,557 ) Change in foreign currency gains (losses) 3,017 (21,843 ) Balance at end of period $ — $ 101,500 Goodwill: Balance at beginning of period $ 59,327 $ 66,055 Change in foreign currency gains (losses) 1,279 (6,728 ) Balance at end of period $ 60,606 $ 59,327 (a) During the second quarter of 2016, the Company recorded a $104.5 million impairment charge due to the Company’s and its development partner’s decision to discontinue the development of lucitanib for breast cancer. At June 30, 2016, the IPR&D intangible asset recorded on the Consolidated Balance Sheets was zero. During the fourth quarter of 2015, the Company recorded an $89.6 million impairment charge due to the Company’s and its development partner’s decision to discontinue the development of lucitanib for lung cancer, as well as updates to the probability-weighted discounted cash flow assumptions for the breast cancer indication.

Other Accrued Expenses (Tables)

Other Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2016
Payables And Accruals [Abstract]
Other Accrued Expenses	Other accrued expenses were comprised of the following (in thousands): June 30, December 31, 2016 2015 Accrued personnel costs $ 8,081 $ 8,250 Accrued interest payable 2,096 2,096 Accrued expenses - other 1,334 959 Total $ 11,511 $ 11,305

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Schedule of Total Interest Expense Recognized Related to Notes	The following table sets forth total interest expense recognized related to the Notes during the three and six months ended June 30, 2016 and 2015 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Contractual interest expense $ 1,797 $ 1,797 $ 3,594 $ 3,574 Amortization of debt issuance costs 309 300 616 598 Total interest expense $ 2,106 $ 2,097 $ 4,210 $ 4,172

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Component of Other Comprehensive Income (Loss)	The accumulated balances related to each component of other comprehensive income (loss) are summarized as follows (in thousands): Total Foreign Accumulated Currency Unrealized Other Translation Gains Comprehensive Adjustments (Losses) Income (Loss) Balance December 31, 2014 $ (24,448 ) $ — $ (24,448 ) Period change (22,629 ) (383 ) (23,012 ) Balance December 31, 2015 (47,077 ) (383 ) (47,460 ) Period change 3,410 441 3,851 Income tax expense (1,278 ) (163 ) (1,441 ) Balance June 30, 2016 $ (44,945 ) $ (105 ) $ (45,050 )

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
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 six months ended June 30, 2016 and 2015 was recognized in the accompanying Consolidated Statements of Operations as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Research and development $ 6,615 $ 5,355 $ 13,924 $ 10,759 General and administrative 2,962 3,015 6,618 6,293 Total share-based compensation expense $ 9,577 $ 8,370 $ 20,542 $ 17,052
Summary of Stock Options Activity	The following table summarizes the activity relating to the Company’s options to purchase common stock for the six months ended June 30, 2016: Number of Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (Thousands) Outstanding at December 31, 2015 5,360,257 $ 51.53 Granted 768,265 20.61 Exercised (62,710 ) 6.50 Forfeited (840,077 ) 59.50 Outstanding at June 30, 2016 (a) 5,225,735 $ 46.25 7.2 $ 4,177 Vested and expected to vest at June 30, 2016 4,958,823 $ 45.84 7.1 $ 4,177 Exercisable at June 30, 2016 2,874,047 $ 39.26 5.9 $ 4,177 (a) Includes 42,500 performance-based stock options granted to executives of the Company in the first quarter of 2015, which vest contingent on approval by the U.S. Food and Drug Administration (“FDA”) to commercially distribute, sell or market rucaparib. Stock compensation expense will be recognized when the condition for vesting is probable of being met.
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 six months ended June 30, 2016 and 2015: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Weighted-average grant date fair value per share $ 11.01 $ 55.35 $ 14.65 $ 51.49 Intrinsic value of options exercised $ 578,525 $ 4,966,707 $ 624,925 $ 10,053,841 Cash received from stock option exercises $ 352,423 $ 1,387,060 $ 407,523 $ 2,580,350
Summary of Activity Relating to Company's Unvested Restricted Stock Units	The following table summarizes the activity relating to the Company’s unvested RSUs for the six months ended June 30, 2016: Number of Units Weighted- Average Grant Date Fair Value Unvested as of December 31, 2015 — $ — Granted 146,503 19.37 Vested (a) (2,625 ) 19.37 Forfeited (18,080 ) 19.37 Unvested as of June 30, 2016 125,798 $ 19.37 Expected to vest after June 30, 2016 109,009 $ 19.37 (a) During the second quarter of 2016, the Company accelerated the vesting of RSUs for certain employees.

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
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 Six Months Ended June 30, 2016 2015 Convertible senior notes 4,646 4,646 Common shares under option 455 4,898 Total potential dilutive shares 5,101 9,544

Nature of Business and Basis 32

Nature of Business and Basis of Presentation - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2016Segment
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of operating segments	1

EOS Acquisition - Additional In

EOS Acquisition - Additional Information (Detail)	Nov. 19, 2013USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Nov. 19, 2013EUR (€)
Business Acquisition [Line Items]
Reduction in fair value of contingent purchase consideration liability		$ 25,500,000
Contingent purchase consideration		0	$ 24,661,000
Ethical Oncology Science, S.p.A.
Business Acquisition [Line Items]
Business acquisition cash payments made on acquisition	$ 11,800,000
Future maximum contingent milestone payments	193,200,000
Reduction in fair value of contingent purchase consideration liability		25,500,000
Contingent purchase consideration		$ 0	$ 24,700,000
Ethical Oncology Science, S.p.A. | Regulatory and Sales Milestones
Business Acquisition [Line Items]
Future maximum contingent milestone payments	65,000,000			€ 115,000,000
Future minimum potential contingent milestone payments	0			€ 0
Ethical Oncology Science, S.p.A. | Common Stock
Business Acquisition [Line Items]
Business acquisition, common stock issued at acquisition date	$ 173,700,000

Assets and Liabilities Measured

Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets at fair value	$ 351,833	$ 500,869
Contingent purchase consideration, fair value	0	24,661
Liabilities at fair value		24,661
Fair Value, Inputs, Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets at fair value	201,711	251,037
Fair Value, Inputs, Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets at fair value	150,122	249,832
Fair Value, Inputs, Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent purchase consideration, fair value		24,661
Liabilities at fair value		24,661
Money Market
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets at fair value	201,711	251,037
Money Market | Fair Value, Inputs, Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets at fair value	201,711	251,037
U.S. Treasury Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets at fair value	150,122	249,832
U.S. Treasury Securities | Fair Value, Inputs, Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets at fair value	$ 150,122	$ 249,832

Financial Instruments and Fai35

Financial Instruments and Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Transfers between level 1 and level 2, assets	$ 0		$ 0
Transfers between level 2 and level 1, assets	0		0
Transfer of liabilities into level 3			0
Transfer of liabilities out of level 3			0
Impairment of intangible asset	104,517,000	$ 89,600,000	104,517,000
Intangible assets		101,500,000		$ 101,500,000
In Process Research and Development
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment of intangible asset	104,500,000		104,517,000	89,557,000
Intangible assets	0	$ 101,500,000	0	$ 101,500,000	$ 212,900,000
Convertible Senior Unsecured Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Convertible senior notes	287,500,000		287,500,000
Convertible Senior Unsecured Notes | Fair Value, Inputs, Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Convertible senior notes, fair value	$ 207,700,000		$ 207,700,000

Roll-forward of Fair Value of L

Roll-forward of Fair Value of Level 3 Instruments (significant unobservable inputs) (Detail) - Fair Value, Inputs, Level 3 $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
Fair value, liabilities measured on recurring basis, unobservable input reconciliation, calculation rollforward
Balance at beginning of period	$ 24,661
Change in fair value	(24,936)
Change in foreign currency gains and losses	275
Balance at end of period	$ 0

Roll-forward of Fair Value of37

Roll-forward of Fair Value of Level 3 Instruments (significant unobservable inputs) (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Reduction in fair value of contingent purchase consideration liability	$ 25,500
Contingent purchase consideration	$ 0	$ 24,661

Available-for-Sale Securities -

Available-for-Sale Securities - Summary of Available-for-Sale Securities (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 150,064
Aggregate Fair Value	150,122
U.S. Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	150,064	$ 250,215
Gross Unrealized Gains	60
Gross Unrealized Losses	(2)	(383)
Aggregate Fair Value	$ 150,122	$ 249,832

Summary of Fair Value and Gross

Summary of Fair Value and Gross Unrealized Losses of Available-for-Sale Securities in a Continuous Unrealized Loss Position (Detail) - U.S. Treasury Securities - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Schedule Of Available For Sale Securities [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Fair Value	$ 25,001	$ 249,832
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses	$ (2)	$ (383)

Available-for-Sale Securities40

Available-for-Sale Securities - Summary of Amortized Cost and Fair Value of Available-for-Sale Securities by Contractual Maturity (Detail) $ in Thousands	Jun. 30, 2016USD ($)
Available For Sale Securities Debt Maturities [Abstract]
Amortized Cost, Due in one year or less	$ 150,064
Amortized Cost	150,064
Fair Value, Due in one year or less	150,122
Aggregate Fair Value	$ 150,122

Other Current Assets (Detail)

Other Current Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Other Current Assets [Abstract]
Receivable from partners	$ 2,749	$ 3,241
Prepaid expenses- other	1,779	1,023
Receivable - other	1,035	889
Prepaid insurance	764	1,231
Receivable from landlord	122	1,153
Other	110	199
Other current assets	$ 6,559	$ 7,736

Summary of IPR&D Intangible Ass

Summary of IPR&D Intangible Assets and Goodwill (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2016	Dec. 31, 2015
IPR&D intangible assets:
Balance at beginning of period			$ 101,500
Impairment of intangible asset	$ (104,517)	$ (89,600)	(104,517)
Balance at end of period		101,500		$ 101,500
Goodwill:
Balance at beginning of period			59,327
Balance at end of period	60,606	59,327	60,606	59,327
In Process Research and Development
IPR&D intangible assets:
Balance at beginning of period			101,500	212,900
Impairment of intangible asset	(104,500)		(104,517)	(89,557)
Change in foreign currency gains (losses)			3,017	(21,843)
Balance at end of period	0	101,500	0	101,500
Ethical Oncology Science, S.p.A.
Goodwill:
Balance at beginning of period			59,327	66,055
Change in foreign currency gains (losses)			1,279	(6,728)
Balance at end of period	$ 60,606	$ 59,327	$ 60,606	$ 59,327

Summary of IPR&D Intangible A43

Summary of IPR&D Intangible Assets and Goodwill (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2016	Dec. 31, 2015	Dec. 31, 2014
Finite Lived Intangible Assets [Line Items]
Impairment of intangible asset	$ 104,517	$ 89,600	$ 104,517
Intangible assets		101,500		$ 101,500
In Process Research and Development
Finite Lived Intangible Assets [Line Items]
Impairment of intangible asset	104,500		104,517	89,557
Intangible assets	$ 0	$ 101,500	$ 0	$ 101,500	$ 212,900

Intangible Assets and Goodwil44

Intangible Assets and Goodwill - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Finite Lived Intangible Assets [Line Items]
Income tax benefit (expense)	$ 29,059		$ (18)	$ 33,240	$ (120)
Deferred tax benefit				$ 33,207
In Process Research and Development
Finite Lived Intangible Assets [Line Items]
Deferred tax benefit	$ 29,200
Ethical Oncology Science, S.p.A.
Finite Lived Intangible Assets [Line Items]
Income tax benefit (expense)		$ 3,600

Other Accrued Expenses (Detail)

Other Accrued Expenses (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Payables And Accruals [Abstract]
Accrued personnel costs	$ 8,081	$ 8,250
Accrued interest payable	2,096	2,096
Accrued expenses - other	1,334	959
Other accrued expenses	$ 11,511	$ 11,305

Convertible Senior Notes - Addi

Convertible Senior Notes - Additional Information (Detail) $ / shares in Units, $ in Thousands	Sep. 09, 2014USD ($)TD$ / shares	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Convertible senior notes, aggregate principal amount		$ 280,501	$ 279,885
Convertible Senior Unsecured Notes
Debt Instrument [Line Items]
Convertible senior notes, aggregate principal amount	$ 287,500
Convertible senior notes, interest rate	2.50%
Net proceeds from convertible senior notes	$ 278,300
Convertible senior notes, frequency of periodic payment		semi-annually
Convertible senior notes, maturity date		Sep. 15, 2021
Convertible senior notes, initial conversion price per share | $ / shares	$ 61.88
Common stock initial conversion rate per $1,000 in principal amount	16.1616
Last reported sale price of common stock	150.00%
Debt instrument, conversion in effect for number of trading days | TD	20
Debt instrument conversion, consecutive trading day period	30 days
Debt instrument redemption price percentage to principal amount	100.00%
Debt instrument redemption description		On or after September 15, 2018, we may redeem the Notes, at our option, in whole or in part, if the last reported sale price of our common stock has been at least 150% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending not more than two trading days preceding the date on which we provide written notice of redemption at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the Notes.
Debt instrument, redemption period start date		Sep. 15, 2018
Debt instrument, trading days preceding redemption notice, maximum		2 days
Debt instrument repurchase percentage		100.00%
Debt issuance costs	$ 9,200
Debt instrument term		7 years
Unamortized debt issuance costs		$ 7,000	$ 7,600
Convertible Senior Unsecured Notes | Semi Annual Payment, First payment date
Debt Instrument [Line Items]
Interest payment date on senior notes		--03-15
Convertible Senior Unsecured Notes | Semi Annual Payment, Second payment date
Debt Instrument [Line Items]
Interest payment date on senior notes		--09-15

Schedule of Total Interest Expe

Schedule of Total Interest Expense Recognized Related to Notes (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Debt Disclosure [Abstract]
Contractual interest expense	$ 1,797	$ 1,797	$ 3,594	$ 3,574
Amortization of debt issuance costs	309	300	616	598
Total interest expense	$ 2,106	$ 2,097	$ 4,210	$ 4,172

Component of Other Comprehensiv

Component of Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance			$ (47,460)	$ (24,448)	$ (24,448)
Period change, net of tax	$ (1,333)	$ 8,366	2,410	(17,461)	(23,012)
Period change, before tax			3,851
Income tax expense			(1,441)
Ending balance	(45,050)		(45,050)		(47,460)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance			(47,077)	$ (24,448)	(24,448)
Period change, net of tax					(22,629)
Period change, before tax			3,410
Income tax expense			(1,278)
Ending balance	(44,945)		(44,945)		(47,077)
Unrealized Gains (Losses)
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance			(383)
Period change, net of tax					(383)
Period change, before tax			441
Income tax expense			(163)
Ending balance	$ (105)		$ (105)		$ (383)

Share-Based Compensation Expens

Share-Based Compensation Expense Recognized in Accompanying Statements of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 9,577	$ 8,370	$ 20,542	$ 17,052
Research and development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	6,615	5,355	13,924	10,759
General and administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 2,962	$ 3,015	$ 6,618	$ 6,293

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense, tax benefit recognized	$ 0	$ 0	$ 0	$ 0
Pretax intrinsic value, closing stock price	$ 13.72		$ 13.72
Unrecognized stock-based compensation expense related to non-vested options	$ 82,200,000		$ 82,200,000
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense, weighted-average remaining vesting period			2 years 3 months 18 days
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense, weighted-average remaining vesting period			2 years 3 months 18 days
Unrecognized stock-based compensation expense related to unvested RSUs	$ 2,000,000		$ 2,000,000

Summary of Stock Options Activi

Summary of Stock Options Activity (Detail) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)$ / sharesshares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Beginning Balance, Number of Options Outstanding | shares	5,360,257
Number of Options, Granted | shares	768,265
Number of Options, Exercised | shares	(62,710)
Number of Options, Forfeited | shares	(840,077)
Ending Balance, Number of Options Outstanding | shares	5,225,735
Number of Options, Vested and expected to vest at June 30, 2016 | shares	4,958,823
Number of Options, Exercisable at June 30, 2016 | shares	2,874,047
Beginning Balance, Weighted Average Exercise Price | $ / shares	$ 51.53
Granted, Weighted Average Exercise Price | $ / shares	20.61
Exercised, Weighted Average Exercise Price | $ / shares	6.50
Forfeited, Weighted Average Exercise Price | $ / shares	59.50
Ending Balance, Weighted Average Exercise Price | $ / shares	46.25
Vested and expected to vest, Weighted Average Exercise Price | $ / shares	45.84
Exercisable, Weighted Average Exercise Price | $ / shares	$ 39.26
Outstanding, Weighted Average Remaining Contractual Term (Years)	7 years 2 months 12 days
Vested and expected to vest, Weighted Average Remaining Contractual Term (Years)	7 years 1 month 6 days
Exercisable, Weighted Average Remaining Contractual Term (Years)	5 years 10 months 24 days
Outstanding, Aggregate Intrinsic Value | $	$ 4,177
Vested and expected to vest, Aggregate Intrinsic Value | $	4,177
Exercisable, Aggregate Intrinsic Value | $	$ 4,177

Summary of Stock Options Acti52

Summary of Stock Options Activity (Parenthetical) (Detail) - shares	3 Months Ended	6 Months Ended
	Mar. 31, 2015	Jun. 30, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Granted		768,265
Performance Shares | Executive Officer [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Granted	42,500

Schedule of Share-Based Compens

Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Weighted-average grant date fair value per share	$ 11.01	$ 55.35	$ 14.65	$ 51.49
Intrinsic value of options exercised	$ 578,525	$ 4,966,707	$ 624,925	$ 10,053,841
Cash received from stock option exercises	$ 352,423	$ 1,387,060	$ 407,523	$ 2,580,350

Summary of Activity Relating to

Summary of Activity Relating to Company's Unvested Restricted Stock Units (Detail) - Restricted Stock Units (RSUs)	6 Months Ended
	Jun. 30, 2016$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning Balance, Number of Units Outstanding | shares	0
Number of Units, Granted | shares	146,503
Number of Units, Vested | shares	(2,625)
Number of Units, Forfeited | shares	(18,080)
Ending Balance, Number of Units Outstanding | shares	125,798
Number of Units, Expected to vest after June 2016 | shares	109,009
Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 0
Weighted Average Grant Date Fair Value, Granted | $ / shares	19.37
Weighted Average Grant Date Fair Value, Vested | $ / shares	19.37
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	19.37
Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	19.37
Weighted Average Grant Date Fair Value, Expected To Vest After June 2016 | $ / shares	$ 19.37

License Agreements - Additional

License Agreements - Additional Information (Detail) $ in Thousands	1 Months Ended					3 Months Ended					6 Months Ended
	Apr. 30, 2014USD ($)	Sep. 30, 2012EUR (€)	Jun. 30, 2011USD ($)	May 31, 2010USD ($)	Oct. 31, 2008	Jun. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2014USD ($)	Mar. 31, 2012USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Research And Development Arrangement Contract To Perform For Others [Line Items]
Acquired in process research and development costs						$ 300					$ 300
Development cost receivable						2,749					2,749		$ 3,241
Research and development						67,729		$ 60,368			142,337	$ 117,118
License Agreements Lucitanib
Research And Development Arrangement Contract To Perform For Others [Line Items]
Upfront payment | €		€ 45,000,000
Sublicense agreement consideration									$ 13,600
Additional payments receivable on milestone achievements | €		90,000,000
Additional payments receivable on attaining the sales target | €		250,000,000
Initial global development costs reimbursable | €		€ 80,000,000
Development cost receivable						2,700					2,700		$ 3,200
Research and development						2,600		4,200			6,200	7,800
Reduction in research and development expense for reimbursable development costs due from Servier						$ 2,800		$ 3,900			6,400	$ 6,600
License Agreements Licensor Pfizer | Rucaparib
Research And Development Arrangement Contract To Perform For Others [Line Items]
Acquired in process research and development costs	$ 400
License Agreements Licensor Celgene Avilomics Research Inc | Name of drug product in licensed by the entity Rociletinib
Research And Development Arrangement Contract To Perform For Others [Line Items]
Sales milestone payments											120,000
License Agreement Terms | License Agreements Licensor Pfizer | Rucaparib
Research And Development Arrangement Contract To Perform For Others [Line Items]
Upfront payment			$ 7,000
Future expected development, regulatory and sales milestone payments											258,500
License Agreement Terms | License Agreements Licensor Pfizer | Rucaparib | First approval of NDA by FDA
Research And Development Arrangement Contract To Perform For Others [Line Items]
Future expected development, regulatory and sales milestone payments											21,250
License Agreement Terms | Advenchen Laboratories LLC | License Agreements Lucitanib
Research And Development Arrangement Contract To Perform For Others [Line Items]
Acquired in process research and development costs									3,400
Percentage of Non-Royalty Consideration Payable on Sublicense Agreements					25.00%
License Agreement Terms | License Agreements Licensor Celgene Avilomics Research Inc | Name of drug product in licensed by the entity Rociletinib
Research And Development Arrangement Contract To Perform For Others [Line Items]
Upfront payment				$ 2,000
Future expected regulatory and development payment											$ 98,000
License Agreement Terms | License Agreements Licensor Celgene Avilomics Research Inc | Name of drug product in licensed by the entity Rociletinib | Regulatory Milestone Payment
Research And Development Arrangement Contract To Perform For Others [Line Items]
Acquired in process research and development costs							$ 12,000		$ 5,000	$ 4,000

Shares Outstanding Excluded fro

Shares Outstanding Excluded from Calculation of Diluted Net Loss Per Share (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potential dilutive shares	5,101	9,544	5,101	9,544
Convertible senior notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potential dilutive shares	4,646	4,646	4,646	4,646
Common shares under option
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potential dilutive shares	455	4,898	455	4,898

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Jun. 22, 2016	Feb. 28, 2013	Jun. 30, 2016
Commitments And Contingencies Disclosure [Abstract]
Purchase commitment			$ 16,500,000
Contractual agreement quarterly forecasts required period		24 months
Contractual agreement obligated forecast period		12 months
Defendants’ time to respond to electrical workers complaint	30 days