2018 Q1 Form 10-K Financial Statement

#000111748018000008 Filed on March 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 2016 Q4
Revenue $790.0K $4.494M $1.980M
YoY Change -26.72% -21.19% -36.33%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.740M $27.15M $5.650M
YoY Change 2.12% 8.56% -42.11%
% of Gross Profit
Research & Development $14.36M $49.45M $11.71M
YoY Change 12.69% -15.69% -62.92%
% of Gross Profit
Depreciation & Amortization $248.0K $1.091M $280.0K
YoY Change -11.74% 2.63% 27.27%
% of Gross Profit
Operating Expenses $21.10M $76.60M $17.35M
YoY Change 9.1% -8.44% -58.02%
Operating Profit -$20.31M -$72.10M -$15.37M
YoY Change 11.21% -7.5% -59.78%
Interest Expense $620.0K $2.280M $420.0K
YoY Change 21.57% 46.15% 10.53%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$19.83M -$70.98M -$14.96M
YoY Change 11.72% -7.08% -60.47%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$19.83M -$70.98M -$14.96M
YoY Change 11.67% -7.08% -60.48%
Net Earnings / Revenue -2509.62% -1579.53% -755.4%
Basic Earnings Per Share
Diluted Earnings Per Share -$416.2K -$1.511M -$322.2K
COMMON SHARES
Basic Shares Outstanding 47.65M shares 46.32M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2017 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $160.4M $151.5M $232.0M
YoY Change -0.8% -34.7% 5.31%
Cash & Equivalents $22.11M $18.50M $51.46M
Short-Term Investments $138.3M $133.0M $180.6M
Other Short-Term Assets $3.100M $2.700M $841.0K
YoY Change 29.17% 28.57% -1.18%
Inventory
Prepaid Expenses
Receivables $426.0K $1.700M $1.599M
Other Receivables $0.00 $600.0K $0.00
Total Short-Term Assets $163.9M $156.5M $236.5M
YoY Change -0.59% -33.83% 3.33%
LONG-TERM ASSETS
Property, Plant & Equipment $1.688M $1.900M $2.843M
YoY Change -34.24% -32.14% -6.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $49.20M $76.70M $47.40M
YoY Change -53.1% 61.81% -61.77%
Other Assets $61.00K $100.0K $55.00K
YoY Change 3.39% 0.0% -21.43%
Total Long-Term Assets $50.97M $78.70M $50.31M
YoY Change -52.59% 56.46% -60.44%
TOTAL ASSETS
Total Short-Term Assets $163.9M $156.5M $236.5M
Total Long-Term Assets $50.97M $78.70M $50.31M
Total Assets $214.9M $235.2M $286.8M
YoY Change -21.11% -17.99% -19.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.892M $3.800M $3.890M
YoY Change -32.74% -2.56% -62.8%
Accrued Expenses $7.109M $9.400M $6.215M
YoY Change 22.17% 51.61% -36.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.001M $13.20M $10.11M
YoY Change 4.27% 30.69% -49.92%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $200.0K $200.0K $441.0K
YoY Change -50.0% -50.0% 24.58%
Total Long-Term Liabilities $200.0K $200.0K $441.0K
YoY Change -50.0% -50.0% 24.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.001M $13.20M $10.11M
Total Long-Term Liabilities $200.0K $200.0K $441.0K
Total Liabilities $9.207M $13.40M $10.55M
YoY Change 1.93% 27.62% -48.64%
SHAREHOLDERS EQUITY
Retained Earnings -$506.6M -$415.8M
YoY Change 16.85% 22.51%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $205.7M $221.8M $276.2M
YoY Change
Total Liabilities & Shareholders Equity $214.9M $235.2M $286.8M
YoY Change -21.11% -17.99% -19.44%

Cashflow Statement

Concept 2018 Q1 2017 2016 Q4
OPERATING ACTIVITIES
Net Income -$19.83M -$70.98M -$14.96M
YoY Change 11.67% -7.08% -60.48%
Depreciation, Depletion And Amortization $248.0K $1.091M $280.0K
YoY Change -11.74% 2.63% 27.27%
Cash From Operating Activities -$18.51M -$50.13M -$9.700M
YoY Change 35.89% -21.45% -70.53%
INVESTING ACTIVITIES
Capital Expenditures $42.00K $151.0K -$80.00K
YoY Change 740.0% -82.05% -90.24%
Acquisitions
YoY Change
Other Investing Activities $21.98M $16.58M $11.87M
YoY Change -234.35% -82.53% 17.06%
Cash From Investing Activities $21.94M $16.43M $11.79M
YoY Change -234.02% -82.53% 26.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $138.0K $779.0K 20.00K
YoY Change -65.06% 28.13% -103.92%
NET CHANGE
Cash From Operating Activities -$18.51M -$50.13M -9.700M
Cash From Investing Activities $21.94M $16.43M 11.79M
Cash From Financing Activities $138.0K $779.0K 20.00K
Net Change In Cash $3.564M -$32.92M 2.110M
YoY Change -112.04% -206.67% -108.75%
FREE CASH FLOW
Cash From Operating Activities -$18.51M -$50.13M -$9.700M
Capital Expenditures $42.00K $151.0K -$80.00K
Free Cash Flow -$18.55M -$50.28M -$9.620M
YoY Change 36.15% -22.24% -70.03%

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CY2016Q4 us-gaap Deferred Income Tax Liabilities
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63000 USD
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DeferredIncomeTaxLiabilities
0 USD
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134559000 USD
CY2017Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
113225000 USD
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0 USD
CY2017Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 USD
CY2016Q4 us-gaap Deferred Tax Assets Net
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63000 USD
CY2017Q4 us-gaap Deferred Tax Assets Net
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0 USD
CY2016Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
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114111000 USD
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92020000 USD
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0 USD
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
61000 USD
CY2016Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
460000 USD
CY2017Q4 us-gaap Deferred Tax Assets Other
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983000 USD
CY2016Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
10907000 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
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12437000 USD
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Bonuses
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1006000 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Bonuses
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777000 USD
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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7214000 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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6156000 USD
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DeferredTaxAssetsTaxDeferredExpenseOther
48000 USD
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28000 USD
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134496000 USD
CY2017Q4 us-gaap Deferred Tax Assets Valuation Allowance
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113225000 USD
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63000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Other
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0 USD
CY2015 us-gaap Defined Contribution Plan Cost Recognized
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300000 USD
CY2016 us-gaap Defined Contribution Plan Cost Recognized
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400000 USD
CY2017 us-gaap Defined Contribution Plan Cost Recognized
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300000 USD
CY2015 us-gaap Depreciation
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657000 USD
CY2016 us-gaap Depreciation
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1063000 USD
CY2017 us-gaap Depreciation
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1091000 USD
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-2.67
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-0.57
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-0.39
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-0.37
CY2016Q4 us-gaap Earnings Per Share Basic And Diluted
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-0.32
CY2016 us-gaap Earnings Per Share Basic And Diluted
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-1.65
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-0.38
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-0.36
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-0.37
CY2017Q4 us-gaap Earnings Per Share Basic And Diluted
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-0.41
CY2017 us-gaap Earnings Per Share Basic And Diluted
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-1.51
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0.000
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
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0.000
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
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0.000
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.34
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.34
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.34
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.363
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.332
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.300
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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-0.008
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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-0.021
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.003
CY2015 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.000
CY2016 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.000
CY2017 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.001
CY2015 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.031
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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-0.033
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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-0.023
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0.002
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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-0.003
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.017
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.019
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.020
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.015
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.049
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.035
CY2017 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.029
CY2015 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0 USD
CY2016 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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0 USD
CY2017 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0 USD
CY2015Q4 us-gaap Fair Value Assumptions Exercise Price
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1.54
CY2015 us-gaap Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
0
CY2015 us-gaap Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
P168D
CY2015 us-gaap Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
0.75
CY2015 us-gaap Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
0.0044
CY2015 us-gaap Fair Value Inputs Discount For Lack Of Marketability
FairValueInputsDiscountForLackOfMarketability
0.10
us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Redemption Restriction Period
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareRedemptionRestrictionPeriod
P18M
CY2015 us-gaap General And Administrative Expense
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31296000 USD
CY2016 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
25007000 USD
CY2017 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
27148000 USD
CY2017 us-gaap Impairment Of Long Lived Assets Held For Use
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0 USD
CY2017Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
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0 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2015 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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42636000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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25385000 USD
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-21271000 USD
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932000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
1585000 USD
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
193000 USD
CY2015 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
2000 USD
CY2016 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-2000 USD
CY2017 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
60000 USD
CY2015 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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-39907000 USD
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-25973000 USD
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-24134000 USD
CY2015 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
3687000 USD
CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
2537000 USD
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IncomeTaxReconciliationNondeductibleExpense
1646000 USD
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-426000 USD
CY2016 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
259000 USD
CY2017 us-gaap Income Tax Reconciliation Other Adjustments
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1212000 USD
CY2015 us-gaap Income Tax Reconciliation State And Local Income Taxes
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-2176000 USD
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
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-1544000 USD
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1090000 USD
CY2015 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
5698000 USD
CY2016 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
2691000 USD
CY2017 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
2039000 USD
CY2015 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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7725000 USD
CY2016 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-10142000 USD
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3073000 USD
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2354000 USD
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-861000 USD
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83000 USD
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19000 USD
CY2016 us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
132000 USD
CY2017 us-gaap Increase Decrease In Deferred Liabilities
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-319000 USD
CY2015 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3028000 USD
CY2016 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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-3215000 USD
CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
168000 USD
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879000 USD
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1562000 USD
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2278000 USD
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158000 USD
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0 USD
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0 USD
CY2016Q4 us-gaap Interest Receivable
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772000 USD
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601000 USD
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10546000 USD
CY2017Q4 us-gaap Liabilities
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13420000 USD
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286770000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
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235230000 USD
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10105000 USD
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13196000 USD
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1548000 USD
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0 USD
CY2017 us-gaap Licenses Revenue
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0 USD
CY2012Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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15000000.0 USD
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0 USD
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
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161347000 USD
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
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608000 USD
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
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779000 USD
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CY2016 us-gaap Net Cash Provided By Used In Investing Activities
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94065000 USD
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16431000 USD
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-99708000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
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1 segment
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129013000 USD
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83654000 USD
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76596000 USD
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-118251000 USD
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2348000 USD
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735000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
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248000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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182000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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720000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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711000 USD
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600000 USD
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700000 USD
CY2017 us-gaap Operating Leases Rent Expense Net
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500000 USD
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1052000 USD
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1322000 USD
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841000 USD
CY2017Q4 us-gaap Other Assets Current
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1111000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
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55000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
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72000 USD
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CY2016 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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324000 USD
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441000 USD
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224000 USD
CY2015 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
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0 USD
CY2015 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
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0 USD
CY2016 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
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0 USD
CY2016 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
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0 USD
CY2017 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
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1200000 USD
CY2017 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
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1160000 USD
CY2015 us-gaap Payments Of Stock Issuance Costs
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0 USD
CY2016 us-gaap Payments Of Stock Issuance Costs
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0 USD
CY2017 us-gaap Payments Of Stock Issuance Costs
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54000 USD
CY2015 us-gaap Payments To Acquire Longterm Investments
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234791000 USD
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79381000 USD
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162613000 USD
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
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2393000 USD
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
841000 USD
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
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151000 USD
CY2015 us-gaap Payments To Acquire Short Term Investments
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60297000 USD
CY2016 us-gaap Payments To Acquire Short Term Investments
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23992000 USD
CY2017 us-gaap Payments To Acquire Short Term Investments
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0 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.001
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0.001
CY2016Q4 us-gaap Preferred Stock Shares Authorized
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10000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Authorized
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10000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
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0 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q4 us-gaap Preferred Stock Value Outstanding
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0 USD
CY2017Q4 us-gaap Preferred Stock Value Outstanding
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0 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
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2845000 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
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3331000 USD
CY2016Q4 us-gaap Prepaid Insurance
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389000 USD
CY2015 us-gaap Proceeds And Excess Tax Benefit From Sharebased Compensation
ProceedsAndExcessTaxBenefitFromSharebasedCompensation
3200000 USD
CY2016 us-gaap Proceeds And Excess Tax Benefit From Sharebased Compensation
ProceedsAndExcessTaxBenefitFromSharebasedCompensation
600000 USD
CY2017 us-gaap Proceeds And Excess Tax Benefit From Sharebased Compensation
ProceedsAndExcessTaxBenefitFromSharebasedCompensation
800000 USD
CY2015 us-gaap Proceeds From Issuance Of Common Stock
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161879000 USD
CY2017Q4 us-gaap Prepaid Insurance
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481000 USD
CY2016 us-gaap Proceeds From Issuance Of Common Stock
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0 USD
CY2017 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2015 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
1048000 USD
CY2016 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
440000 USD
CY2017 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
712000 USD
CY2015 us-gaap Proceeds From Maturities Prepayments And Calls Of Longterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfLongtermInvestments
240000 USD
CY2016 us-gaap Proceeds From Maturities Prepayments And Calls Of Longterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfLongtermInvestments
0 USD
CY2017 us-gaap Proceeds From Maturities Prepayments And Calls Of Longterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfLongtermInvestments
0 USD
CY2015 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
126742000 USD
CY2016 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
198279000 USD
CY2017 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
165695000 USD
CY2015 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-338000 USD
CY2016 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
CY2017 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
CY2015 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
1003000 USD
CY2016 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
0 USD
CY2017 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
13500000 USD
CY2015 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2107000 USD
CY2016 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
168000 USD
CY2017 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
121000 USD
CY2015 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
1001000 USD
CY2016 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 USD
CY2017 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 USD
CY2015 us-gaap Profit Loss
ProfitLoss
-117372000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
-26260000 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
-18148000 USD
CY2016Q3 us-gaap Profit Loss
ProfitLoss
-17025000 USD
CY2016Q4 us-gaap Profit Loss
ProfitLoss
-14957000 USD
CY2016 us-gaap Profit Loss
ProfitLoss
-76390000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
-17754000 USD
CY2017Q2 us-gaap Profit Loss
ProfitLoss
-16680000 USD
CY2017Q3 us-gaap Profit Loss
ProfitLoss
-17312000 USD
CY2017Q4 us-gaap Profit Loss
ProfitLoss
-19238000 USD
CY2017 us-gaap Profit Loss
ProfitLoss
-70984000 USD
CY2017 us-gaap Property Plant And Equipment Estimated Useful Lives
PropertyPlantAndEquipmentEstimatedUsefulLives
amortized over the shorter of the useful life of the asset or the term of the related lease
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5837000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5738000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2843000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1894000 USD
CY2015 us-gaap Repayments Of Debt
RepaymentsOfDebt
4350000 USD
CY2016 us-gaap Repayments Of Debt
RepaymentsOfDebt
0 USD
CY2017 us-gaap Repayments Of Debt
RepaymentsOfDebt
0 USD
CY2015 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
97717000 USD
CY2016 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
58647000 USD
CY2017 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
49448000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-415804000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-486788000 USD
CY2015 us-gaap Revenues
Revenues
10762000 USD
CY2016Q1 us-gaap Revenues
Revenues
1228000 USD
CY2016Q2 us-gaap Revenues
Revenues
1841000 USD
CY2016Q3 us-gaap Revenues
Revenues
653000 USD
CY2016Q4 us-gaap Revenues
Revenues
1980000 USD
CY2016 us-gaap Revenues
Revenues
5702000 USD
CY2017Q1 us-gaap Revenues
Revenues
1078000 USD
CY2017Q2 us-gaap Revenues
Revenues
675000 USD
CY2017Q3 us-gaap Revenues
Revenues
897000 USD
CY2017Q4 us-gaap Revenues
Revenues
1844000 USD
CY2017 us-gaap Revenues
Revenues
4494000 USD
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
12959000 USD
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
16223000 USD
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
16110000 USD
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
10139000 USD
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
119000 USD
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
48000 USD
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
774039 shares
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
235736 shares
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
2418551 shares
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
928816 shares
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
25.18
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.62
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.71
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
529145 USD
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2746395 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4342466 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4996661 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
28.19
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
17.81
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.51
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
3021179 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
18.05
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
527433 USD
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
4934708 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
15.56
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.48
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.98
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
24.13
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
19.10
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
7.76
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.17
CY2017Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
516430 USD
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y51D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y4M28D
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y1M2D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y215D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y212D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
11498000 USD
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
13330000 USD
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
11786000 USD
CY2016 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
203400 shares
CY2017 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
744450 shares
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
48441 shares
CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
38885 shares
CY2015 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1048000 USD
CY2016 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
440000 USD
CY2017 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
712000 USD
CY2015 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
161879000 USD
CY2017 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
150000 USD
CY2015 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2107000 USD
CY2016 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
168000 USD
CY2017 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
121000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
274636000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
335459000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
276224000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
221810000 USD
CY2017Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
0 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1956000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2400000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3276000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
444000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
403000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
473000 USD
CY2015 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
43878326 shares
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
46184134 shares
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
46214086 shares
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
46236749 shares
CY2016Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
46431809 shares
CY2016 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
46267064 shares
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
46573394 shares
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
46863753 shares
CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
47065756 shares
CY2017Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
47341271 shares
CY2017 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
46963430 shares
CY2017 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Concentration of Credit Risk</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents, short-term investments, long-term investments and accounts receivable. The Company is exposed to credit risk, subject to federal deposit insurance, in the event of default by the financial institutions holding its cash and cash equivalents to the extent of amounts recorded on the balance sheets. Accounts receivable represent amounts due from an agency of the federal government.</font></div></div>
CY2017 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior period amounts in the accompanying consolidated financial statements have been reclassified to conform to the current year presentation. These reclassifications had no effect on previously reported net income or stockholders' equity (deficit).</font></div></div>

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