$HRTX
Heron Therapeutics Inc

2017 Q3 Form 10-Q Financial Statement

#000119312517333663 Filed on November 06, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $8.572M
YoY Change
Cost Of Revenue $1.051M
YoY Change
Gross Profit $7.521M
YoY Change
Gross Profit Margin 87.74%
Selling, General & Admin $19.99M $17.49M
YoY Change 14.29% 112.02%
% of Gross Profit 265.8%
Research & Development $28.84M $30.24M
YoY Change -4.62% 112.36%
% of Gross Profit 383.51%
Depreciation & Amortization $410.0K $300.0K
YoY Change 36.67% 66.67%
% of Gross Profit 5.45%
Operating Expenses $49.89M $47.73M
YoY Change 4.51% 112.24%
Operating Profit -$41.31M -$47.73M
YoY Change -13.45% 112.24%
Interest Expense -$552.0K $886.0K
YoY Change -162.3% 266.12%
% of Operating Profit
Other Income/Expense, Net -$552.0K -$775.0K
YoY Change -28.77%
Pretax Income -$41.87M -$48.51M
YoY Change -13.69% 113.98%
Income Tax
% Of Pretax Income
Net Earnings -$41.87M -$48.51M
YoY Change -13.69% 113.96%
Net Earnings / Revenue -488.4%
Basic Earnings Per Share
Diluted Earnings Per Share -$772.8K -$1.240M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $74.00M $88.90M
YoY Change -16.76% -41.9%
Cash & Equivalents $65.52M $45.64M
Short-Term Investments $8.500M $43.30M
Other Short-Term Assets $4.600M $3.100M
YoY Change 48.39% 55.0%
Inventory $5.169M $1.983M
Prepaid Expenses
Receivables $28.85M
Other Receivables $0.00
Total Short-Term Assets $112.6M $93.97M
YoY Change 19.81% -39.37%
LONG-TERM ASSETS
Property, Plant & Equipment $5.343M $4.702M
YoY Change 13.63% 57.68%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $263.0K $130.0K
YoY Change 102.31% -25.29%
Total Long-Term Assets $5.606M $4.832M
YoY Change 16.02% 53.11%
TOTAL ASSETS
Total Short-Term Assets $112.6M $93.97M
Total Long-Term Assets $5.606M $4.832M
Total Assets $118.2M $98.81M
YoY Change 19.62% -37.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.337M $6.090M
YoY Change -12.36% 122.67%
Accrued Expenses $38.80M $22.10M
YoY Change 75.57% 88.89%
Deferred Revenue
YoY Change
Short-Term Debt $3.500M $0.00
YoY Change
Long-Term Debt Due $2.700M
YoY Change 28.57%
Total Short-Term Liabilities $53.14M $30.93M
YoY Change 71.84% 88.0%
LONG-TERM LIABILITIES
Long-Term Debt $25.00M $50.00M
YoY Change -50.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $25.00M $50.00M
YoY Change -50.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $53.14M $30.93M
Total Long-Term Liabilities $25.00M $50.00M
Total Liabilities $78.14M $80.93M
YoY Change -3.44% 390.46%
SHAREHOLDERS EQUITY
Retained Earnings -$721.0M -$538.0M
YoY Change 34.01% 40.99%
Common Stock $546.0K $391.0K
YoY Change 39.64% 8.91%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $40.05M $17.88M
YoY Change
Total Liabilities & Shareholders Equity $118.2M $98.81M
YoY Change 19.62% -37.52%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$41.87M -$48.51M
YoY Change -13.69% 113.96%
Depreciation, Depletion And Amortization $410.0K $300.0K
YoY Change 36.67% 66.67%
Cash From Operating Activities -$40.54M -$36.12M
YoY Change 12.24% 81.6%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$540.0K
YoY Change -100.0% 116.0%
Acquisitions
YoY Change
Other Investing Activities $70.60M -$30.62M
YoY Change -330.57%
Cash From Investing Activities $70.61M -$31.15M
YoY Change -326.68% 12360.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.180M 50.96M
YoY Change -89.84% 3085.0%
NET CHANGE
Cash From Operating Activities -40.54M -36.12M
Cash From Investing Activities 70.61M -31.15M
Cash From Financing Activities 5.180M 50.96M
Net Change In Cash 35.25M -16.31M
YoY Change -316.13% -12.03%
FREE CASH FLOW
Cash From Operating Activities -$40.54M -$36.12M
Capital Expenditures $0.00 -$540.0K
Free Cash Flow -$40.54M -$35.58M
YoY Change 13.94% 81.16%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2017Q3 hrtx Accrued Clinical Liabilities
AccruedClinicalLiabilities
15517000
CY2016Q4 hrtx Accrued Clinical Liabilities
AccruedClinicalLiabilities
13207000
CY2011Q2 hrtx Convertible Debt Issuable In Connection With Private Placement1
ConvertibleDebtIssuableInConnectionWithPrivatePlacement1
4500000
CY2017Q3 hrtx Convertible Notes Payable Related Parties Current
ConvertibleNotesPayableRelatedPartiesCurrent
3481000
CY2016Q4 hrtx Convertible Notes Payable Related Parties Current
ConvertibleNotesPayableRelatedPartiesCurrent
2911000
CY2017Q3 hrtx Impact On Basic And Diluted Net Loss Per Common Share In Dollars Per Share
ImpactOnBasicAndDilutedNetLossPerCommonShareInDollarsPerShare
0.14
CY2016Q3 hrtx Impact On Basic And Diluted Net Loss Per Common Share In Dollars Per Share
ImpactOnBasicAndDilutedNetLossPerCommonShareInDollarsPerShare
0.19
hrtx Impact On Basic And Diluted Net Loss Per Common Share In Dollars Per Share
ImpactOnBasicAndDilutedNetLossPerCommonShareInDollarsPerShare
0.45
hrtx Impact On Basic And Diluted Net Loss Per Common Share In Dollars Per Share
ImpactOnBasicAndDilutedNetLossPerCommonShareInDollarsPerShare
0.50
hrtx Increase Decrease In Clinical Liabilities
IncreaseDecreaseInClinicalLiabilities
2310000
hrtx Increase Decrease In Clinical Liabilities
IncreaseDecreaseInClinicalLiabilities
4608000
CY2017Q1 hrtx Proceeds From Issuance Of Common Stock Net Of Issuance Costs
ProceedsFromIssuanceOfCommonStockNetOfIssuanceCosts
163700000
hrtx Proceeds From Issuance Of Common Stock Net Of Issuance Costs
ProceedsFromIssuanceOfCommonStockNetOfIssuanceCosts
163747000
hrtx Proceeds From Issuance Of Common Stock Net Of Issuance Costs
ProceedsFromIssuanceOfCommonStockNetOfIssuanceCosts
hrtx Stock Issued During Period Shares Stock Options Exercised Net
StockIssuedDuringPeriodSharesStockOptionsExercisedNet
952000
hrtx Valuation Allowances And Reserves Provisions
ValuationAllowancesAndReservesProvisions
11668000
CY2017Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
5337000
CY2016Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
6814000
CY2017Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
28851000
CY2016Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1960000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
259000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-219000
CY2017Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
CY2016Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-17000
CY2017Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
760472000
CY2016Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
564343000
CY2017Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7476000
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7511000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
23647000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18697000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
570000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
510000
CY2017Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2016Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2017Q3 us-gaap Available For Sale Securities
AvailableForSaleSecurities
8492000
CY2016Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
37724000
CY2017Q3 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
CY2016Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
CY2017Q3 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
CY2016Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
17000
CY2017Q3 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
8492000
CY2016Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
37741000
CY2017Q3 us-gaap Available For Sale Securities Current
AvailableForSaleSecuritiesCurrent
8492000
CY2016Q4 us-gaap Available For Sale Securities Current
AvailableForSaleSecuritiesCurrent
37724000
CY2017Q3 us-gaap Assets
Assets
118196000
CY2016Q4 us-gaap Assets
Assets
67482000
CY2017Q3 us-gaap Assets Current
AssetsCurrent
112590000
CY2016Q4 us-gaap Assets Current
AssetsCurrent
62143000
CY2017Q3 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
0
us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
0
CY2016Q3 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
0
us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
0
CY2017Q3 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
0
us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
0
CY2016Q3 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
0
us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
0
us-gaap Basis Of Accounting
BasisOfAccounting
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 18pt;"><div style=" margin: 0pt; text-align: left; font-size: 10pt; font-family: Times\ New\ Roman, Times, serif;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div></div><div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">. </div></div></div> </td> <td> <div style=" margin: 0pt; text-align: left; font-size: 10pt; font-family: Times\ New\ Roman, Times, serif;"><div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">Basis of Presentation</div></div></div> </td> </tr> </table> <div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"><div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (&#x201c;GAAP&#x201d;) for interim financial information and with the instructions to Form <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div>-Q and Article <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div> of Regulation S-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">X.</div> Accordingly, they do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> include all of the information and disclosures required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017</div></div><div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;">, are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> necessarily indicative of the results that <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be expected for other quarters or the year ending <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div></div><div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;">. The condensed consolidated balance sheet as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016</div></div><div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;">, has been derived from the audited financial statements as of that date, but does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> include all of the information and disclosures required by GAAP. For more complete financial information, these unaudited condensed consolidated financial statements and the notes thereto should be read in conjunction with the audited financial statements included in our Annual Report on Form</div><div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div>-K for the fiscal year ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div>&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> which was filed with the SEC on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 23, 2017</div></div><div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;">.</div></div></div>
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13414000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
75180000
CY2017Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
65524000
CY2016Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
45640000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
52110000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-29540000
CY2017Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
74000000
CY2017Q3 us-gaap Common Stock Value
CommonStockValue
546000
CY2016Q4 us-gaap Common Stock Value
CommonStockValue
394000
CY2017Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-41866000
CY2016Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-48525000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-134983000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-125157000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Concentration of Risk</div></div></div> <div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">Cash, cash equivalents and short-term investments are financial instruments that potentially subject us to concentrations of credit risk. We deposit our cash in financial institutions. At times, such deposits <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be in excess of insured limits. We <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>also invest our excess cash in money market funds, <div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;">U.S. government and agencies, corporate debt securities and commercial paper. We have established guidelines relative to our diversification of our cash investments and their maturities in an effort to maintain safety and liquidity. These guidelines are periodically reviewed and modified to take advantage of trends in yields and interest rates.</div></div> <div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">Sales <div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;">of SUSTOL to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> customers accounted for <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10%</div> or more of our net revenues for the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017. </div>The loss of either of these customers could materially and adversely affect our business, results of operations, financial condition and cash flows. </div></div></div></div>
CY2017Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
1051000
CY2016Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
us-gaap Cost Of Goods Sold
CostOfGoodsSold
3250000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
CY2017Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
5560000
CY2016Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
1099000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1146000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
793000
CY2017Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.77
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.24
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.55
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-3.34
CY2017Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7850000
CY2016Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
8414000
CY2017Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
62100000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y182D
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
7000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
CY2017Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6462000
CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5333000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
19389000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15474000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1477000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2790000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
26891000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
4461000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-564000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
3813000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-171000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1983000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
9585000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-271000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
849000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-428000
CY2017Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-552000
CY2016Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-775000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-2326000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-1068000
us-gaap Interest Paid
InterestPaid
2289000
us-gaap Interest Paid
InterestPaid
622000
CY2017Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
2500000
CY2017Q3 us-gaap Inventory Net
InventoryNet
5169000
CY2016Q4 us-gaap Inventory Net
InventoryNet
5340000
CY2017Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
1400000
CY2017Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1300000
CY2017Q3 us-gaap Liabilities
Liabilities
78143000
CY2016Q4 us-gaap Liabilities
Liabilities
88733000
CY2017Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
118196000
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
67482000
CY2017Q3 us-gaap Liabilities Current
LiabilitiesCurrent
53143000
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
38733000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
147159000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
55971000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
28102000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
10065000
us-gaap Operating Income Loss
OperatingIncomeLoss
-124112000
CY2017Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
15398000
CY2016Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
6288000
CY2017Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
263000
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
263000
CY2017Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
CY2016Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-16000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-123151000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-95576000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
-41866000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-48509000
us-gaap Net Income Loss
NetIncomeLoss
-134994000
us-gaap Net Income Loss
NetIncomeLoss
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CY2017Q3 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
25000000
CY2016Q4 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
50000000
CY2017Q3 us-gaap Operating Expenses
OperatingExpenses
49886000
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
47734000
us-gaap Operating Expenses
OperatingExpenses
153382000
us-gaap Operating Expenses
OperatingExpenses
124112000
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-41314000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-47734000
us-gaap Operating Income Loss
OperatingIncomeLoss
-132668000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
11000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
23000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
93776000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
43318000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1419000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2446000
CY2017Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4554000
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3705000
CY2011Q2 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
4300000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
576000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
251000
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
50000000
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
123284000
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
55829000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
13000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
7836000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5720000
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5343000
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5076000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
25000000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
28844000
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
30242000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
90825000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
73620000
CY2017Q3 us-gaap Restructuring And Related Cost Expected Cost1
RestructuringAndRelatedCostExpectedCost1
9900000
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-720965000
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-585971000
CY2017Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
8572000
CY2016Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
20714000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
CY2017Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
13529000
CY2016Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
12159000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
39918000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
35018000
us-gaap Share Based Compensation
ShareBasedCompensation
23647000
us-gaap Share Based Compensation
ShareBasedCompensation
18697000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
913000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
19.53
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1218000
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
11845000
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
11198000
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.44
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.56
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
8.23
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
14.45
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y219D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y116D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
952000
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
40053000
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
-21251000
us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Use of Estimates</div></div></div> <div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">The preparation of financial statements in conformity with <div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;">GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and disclosures made in the accompanying notes to the financial statements. Our critical accounting policies that involve significant judgment and estimates include revenue recognition, inventory, accrued clinical liabilities, income taxes and stock-based compensation. Actual results could differ materially from those estimates.</div></div></div></div>
CY2016Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
342000
CY2017Q3 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
6188000
us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
5822000
CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
54176000
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
39113000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
52846000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
37470000

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