Insmed Incorporated
(NASDAQ:INSM)

Insmed Incorporated, a biopharmaceutical company, develops and commercializes therapies for patients with serious and rare diseases. The company offers ARIKAYCE for the treatment of Mycobacterium avium complex lung disease as part of a combination antibacterial drug regimen for adult patients. It is...

Website: http://www.insmed.com

Founded: 1988

Full Time Employees: 435

Sector: Healthcare

Industry: Biotechnology

Pharmaceuticals

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Quarterly

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Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-09-30	2016-06-30	2016-03-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31

product revenues	263,843,000	142,342,000	107,415,000	92,823,000	104,442,000	93,425,000	90,340,000	75,500,000	83,693,000	79,072,000	77,229,000	65,214,000	59,300,000	67,730,000	65,221,000	53,107,000	56,124,000	46,757,000	45,366,000	40,214,000
yoy	152.62%	52.36%	18.90%	22.94%	24.79%	18.15%	16.98%	15.77%	41.13%	16.75%	18.41%	22.80%	5.66%	44.86%	43.77%	32.06%
qoq	85.36%	32.52%	15.72%	-11.12%	11.79%	3.41%	19.66%	-9.79%	5.84%	2.39%	18.42%	9.97%	-12.45%	3.85%	22.81%	-5.38%	20.03%	3.07%	12.81%
operating expenses:
cost of product revenues	44,220,000	29,365,000	28,075,000	21,278,000	26,151,000	21,170,000	20,964,000	17,457,000	18,443,000	16,706,000	16,594,000	13,830,000	13,069,000	13,471,000	16,395,000	12,191,000	13,288,000	10,183,000	10,837,000	9,844,000	10,862,000	10,622,000	9,950,000	8,438,000	8,706,000	6,437,000	4,919,000	4,150,000
research and development	254,911,000	186,415,000	177,190,000	152,577,000	179,727,000	150,809,000	146,748,000	121,083,000	137,029,000	109,148,000	196,969,000	127,865,000	124,763,000	99,872,000	88,527,000	84,356,000	76,352,000	70,347,000	64,655,000	61,390,000	67,814,000	41,411,000	35,748,000	36,184,000	32,630,000	34,340,000	33,538,000	31,203,000	39,925,000	39,538,000	35,722,000	30,098,000	33,949,000	26,675,000	26,871,000	22,254,000	23,433,000	23,871,000	20,547,000	19,221,000	18,246,000	17,164,000	15,200,000	14,942,000	11,351,000	12,095,000	12,225,000	10,334,000	12,228,000	5,539,000	7,527,000	4,487,000	6,518,000	6,933,000	8,706,000	5,760,000	2,453,000	769,000	893,000	642,000	724,000	1,143,000	1,472,000	5,868,000	5,273,000	4,997,000	5,536,000	5,241,000	-14,379,063	4,602,000	3,691,000	6,105,000	4,251,000	5,316,000	4,348,000	7,174,000	5,481,000	6,728,000	5,339,000	4,287,000	-18,385,680	6,786,000	7,768,000	3,855,000	-5,612,860	1,821,000	2,224,000	1,575,000	3,930,750	3,435,000	6,583,000	5,705,000
selling, general and administrative	212,483,000	186,376,000	154,763,000	147,545,000	142,515,000	118,930,000	106,569,000	93,102,000	89,530,000	90,626,000	84,431,000	79,914,000	73,479,000	75,583,000	59,974,000	56,748,000	65,266,000	60,280,000	57,177,000	51,550,000	56,019,000	46,585,000	49,663,000	51,346,000	50,206,000	53,347,000	52,433,000	54,810,000																												3,256,000	5,198,000	1,636,000	1,884,000	1,538,000	2,104,750	2,096,000	2,874,000	3,449,000	1,324,000	960,000	1,493,000	1,482,000	1,877,000	973,000	1,153,000	5,382,000	3,991,500	7,003,000	5,163,000	3,800,000
amortization of intangible assets	1,937,000	1,538,000	1,263,000	1,263,000	1,263,000	1,263,000	1,263,000	1,263,000	1,263,000	1,263,000	1,263,000	1,263,000	1,264,000	1,263,000	1,263,000	1,263,000	1,262,000	1,264,000	1,263,000	1,263,000	1,258,000	1,248,000	1,248,000	1,249,000	1,248,000	1,249,000	1,248,000	1,248,000
change in fair value of deferred and contingent consideration liabilities	45,488,250	104,653,000	59,000,000	18,300,000	-14,800,000	14,682,000	103,700,000	-11,900,000	15,700,000	8,997,000	13,500,000	-9,500,000	-1,800,000	5,238,000	-12,622,000	-11,618,000	-966,000	8,300,000
total operating expenses	583,591,000	508,347,000	420,291,000	340,963,000	334,856,000	306,854,000	379,244,000	221,005,000	261,965,000	226,740,000	312,757,000	213,372,000	210,775,000	195,427,000	153,537,000	142,940,000	155,202,000	150,374,000	133,932,000	124,047,000	164,963,000	89,244,000							54,904,000	83,983,000	72,882,000	62,751,000	65,353,000	44,083,000	43,515,000	35,969,000	37,149,000	36,133,000	33,067,000	30,245,000	27,952,000	26,706,000	23,404,000	22,816,000	18,079,000	16,842,000	19,769,000	14,309,000	15,838,000	9,353,000	9,983,000	7,264,000	10,273,000	35,395,000	11,451,000	9,016,000																				10,974,000	7,088,000	7,918,000	6,979,000	5,580,000	-21,628,438	7,671,000	9,089,000	4,896,000	-8,194,264	2,495,000	3,347,000	2,363,000	18,650,000	6,569,000	7,349,000	6,411,000
operating income	-319,748,000	-366,005,000	-312,876,000	-248,140,000	-230,414,000	-213,429,000	-288,904,000	-145,505,000	-178,272,000	-147,668,000	-235,528,000	-148,158,000	-151,475,000	-127,697,000	-88,316,000	-89,833,000	-99,078,000	-103,617,000	-88,566,000	-83,833,000	-94,538,000	-56,223,000	-54,114,000	-60,357,000	-47,082,000	-56,488,000	-62,166,000	-69,509,000	-87,722,000	-83,983,000	-72,882,000	-62,751,000	-65,353,000	-44,083,000															-15,838,000	-9,353,000	-9,983,000	-7,264,000	-8,870,000	-34,960,000	-10,473,000	-7,415,000	-6,330,000	-598,000	-913,000	-251,000	343,000	-764,000	-1,306,000	-6,947,000	-3,738,000	-1,886,000	-4,435,000	-4,798,000	17,074,561	-4,123,000	-2,569,000	-10,403,000	-21,404,000	-12,724,000	-9,324,000	-10,920,000	-7,064,000	-7,896,000	-6,951,000	-5,523,000	21,514,575	-7,647,000	-9,060,000	-4,835,000	8,071,414	-2,468,000	-3,313,000	-2,301,000	-18,624,000	-4,812,000		-6,309,000
yoy	38.77%	71.49%	8.30%	70.54%	29.25%	44.53%	22.66%	-1.79%	17.69%	15.64%	166.69%	64.93%	52.88%	23.24%	-0.28%	7.16%	4.80%	84.30%	63.67%	38.90%	100.79%	-0.47%	-12.95%	-13.17%	-46.33%	-32.74%	-14.70%	10.77%	34.23%	90.51%																			78.56%	-73.25%	-4.68%	-2.04%	40.13%	5746.15%	1047.10%	2854.18%	-1945.48%	-21.73%	-30.09%	-96.39%	-109.18%	-59.49%	-70.55%	44.79%	-121.89%	-54.26%	72.64%	-53.88%	-179.77%	-67.60%	-72.45%	-4.73%	203.00%	61.14%	34.14%	97.72%	-132.83%	3.26%	-23.28%	14.23%	166.55%	209.85%	173.47%	110.13%	-143.34%	-48.71%		-63.53%
qoq	-12.64%	16.98%	26.09%	7.69%	7.96%	-26.12%	98.55%	-18.38%	20.72%	-37.30%	58.97%	-2.19%	18.62%	44.59%	-1.69%	-9.33%	-4.38%	16.99%	5.65%	-11.32%	68.15%	3.90%	-10.34%	28.20%	-16.65%	-9.13%	-10.56%	-20.76%	4.45%	15.23%	16.14%	-3.98%	48.25%																69.34%	-6.31%	37.43%	-18.11%	-74.63%	233.81%	41.24%	17.14%	958.53%	-34.50%	263.75%	-173.18%	-144.90%	-41.50%	-81.20%	85.85%	98.20%	-57.47%	-7.57%	-128.10%	-514.13%	60.49%	-75.31%	-51.40%	68.22%	36.47%	-14.62%	54.59%	-10.54%	13.60%	25.86%	-125.67%	-381.35%	-15.60%	87.38%	-159.90%	-427.04%	-25.51%	43.98%	-87.64%	287.03%
operating margin %	-121.19%	-257.13%	-291.28%	-267.33%	-220.61%	-228.45%	-319.80%	-192.72%	-213.01%	-186.75%	-304.97%	-227.19%	-255.44%	-188.54%	-135.41%	-169.15%	-176.53%	-221.61%	-195.23%	-208.47%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	-Infinity%
investment income	15,236,000	18,289,000	13,225,000	13,906,000	17,257,000	16,982,000	10,285,000	8,783,000	9,853,000	10,583,000	11,172,000	10,524,000	8,318,000	1,791,000	835,000	137,000	61,000	46,000	34,000	33,000	26,000	70,000	203,000	1,404,000	2,042,000	2,885,000	2,578,000	2,416,000	2,831,000	2,741,000	2,729,000	2,040,000	975,000	326,000	169,000	154,000	138,000	164,000	170,000	75,000	68,000	23,000	12,000	12,000	17,000	40,000	50,000	51,000	921,000	193,000	290,000	418,000	339,500	371,000	459,000	527,000	565,000	345,000	538,000	397,000	204,250	682,000
interest expense	-20,599,000	-20,382,000	-21,245,000	-21,569,000	-21,550,000	-21,054,000	-21,267,000	-21,042,000	-20,784,000	-20,288,000	-20,619,000	-20,003,000	-16,445,000	-3,353,000	-3,357,000	-3,291,000	-11,350,000	-11,245,000	-10,319,000	-7,559,000	-7,499,000	-7,185,000	-7,469,000	-7,411,000	-7,348,000	-6,846,000	-6,785,000	-6,726,000	-6,667,000	-6,675,000	-6,488,000	-5,642,000	-1,466,000	-1,496,000															-538,000	-222,000	-1,000	-2,000	-1,000	-2,000	-3,000	-4,000	-81,000			-28,000	-51,000	-68,000	-420,000	-242,000	-273,000	-301,000	-328,000	-354,000	464,318	-159,000	-155,000	-151,000	-552,000	-168,000	-164,000	-2,819,000	-6,021,000	-6,096,000	-1,825,000	-305,000
change in fair value of interest rate swap					870,000	-3,852,000	384,000	2,362,000	1,970,000	-1,301,000	1,184,000	-1,533,000
other income	-1,823,000	-603,000	453,000	132,000	-445,000	1,843,000			2,170,000	285,000										-43,000				36,000	-276,000	-85,000	-51,000	-119,000	52,000	220,000	244,000	86,000	94,000	101,000	200,000		45,000	32,000	15,000			36,000		175,000
income before income taxes	-326,934,000	-368,701,000	-320,443,000	-255,671,000	-234,282,000	-219,510,000	-299,771,000	-156,502,000	-185,063,000	-158,389,000	-244,279,000	-159,281,000	-159,998,000	-130,773,000	-95,144,000	-94,236,000	-113,019,000	-115,292,000	-116,699,000	-91,402,000	-101,592,000	-63,342,000	-61,426,000	-66,328,000	-52,664,000	-60,534,000	-66,424,000	-73,938,000	-91,506,000	-87,697,000	-76,397,000	-68,476,000	-65,750,000	-45,152,000															-6,479,750	-9,382,000	-9,694,000	-6,843,000	-12,875,000	-34,591,000	-10,017,000
provision for income taxes	1,551,000	1,320,000	1,243,000	912,000	1,266,000	1,014,000	838,000	589,000	998,000	544,000	530,000	483,000	125,000	372,000	501,000	385,000	-41,000	-2,578,000	622,000	239,000	621,000	317,000	428,000	36,000	324,000	148,000	90,000	215,000	33,500	46,000	40,000	48,000	23,500	27,000	37,000	30,000	25,000	18,000	28,000
net income	-328,485,000	-370,021,000	-321,686,000	-256,583,000	-235,548,000	-220,524,000	-300,609,000	-157,091,000	-186,061,000	-158,933,000	-244,809,000	-159,764,000	-160,123,000	-131,145,000	-95,645,000	-94,621,000	-112,978,000	-112,714,000	-117,321,000	-91,641,000	-102,213,000	-63,659,000	-61,854,000	-66,364,000	-52,988,000	-60,682,000	-66,514,000	-74,153,000	-91,573,000	-87,743,000	-76,437,000	-68,524,000	-65,384,000	-45,179,000	-44,672,000	-37,414,000	-37,760,000	-36,579,000	-33,532,000							-17,327,000	-8,854,000	-13,678,000	-6,480,750	-9,382,000	-9,696,000	-6,845,000	-12,875,500	-34,591,000	-10,017,000	-6,894,000	-5,844,000	-330,000	-378,000	118,000	29,011,000	-150,000	-1,601,000	117,795,000	-3,964,000	-2,163,000	-4,667,000	-4,873,000	16,645,038	-3,912,000	-2,500,000	-10,253,000	-21,428,000	-12,372,000	-8,911,000	-13,427,000	-12,885,000	-13,756,000	-8,524,000	-5,764,000	21,338,797	-7,596,000	-9,011,000	-4,759,000	7,836,702	-2,398,000	-3,240,000	-2,209,000	-18,497,000	-4,706,000		-6,107,000
yoy	39.46%	67.79%	7.01%	63.33%	26.60%	38.75%	22.79%	-1.67%	16.20%	21.19%	155.96%	68.85%	41.73%	16.35%	-18.48%	3.25%	10.53%	77.06%	89.67%	38.09%	92.90%	4.91%	-7.01%	-10.50%	-42.14%	-30.84%	-12.98%	8.21%	40.05%	94.21%	71.11%	83.15%	73.16%	23.51%	33.22%											84.68%	-8.68%	99.82%	-49.67%	-72.88%	-3.20%	-0.71%	120.32%	10382.12%	2550.00%	-5942.37%	-120.14%	120.00%	-76.39%	-99.90%	-831.86%	-93.07%	-65.70%	-2517.30%	-123.81%	-44.71%	86.68%	-52.47%	-177.68%	-68.38%	-71.94%	-23.64%	66.30%	-10.06%	4.54%	132.95%	-160.38%	81.10%	-5.40%	21.12%	172.29%	216.76%	178.12%	115.44%	-142.37%	-49.04%		-63.83%
qoq	-11.23%	15.03%	25.37%	8.93%	6.81%	-26.64%	91.36%	-15.57%	17.07%	-35.08%	53.23%	-0.22%	22.10%	37.12%	1.08%	-16.25%	0.23%	-3.93%	28.02%	-10.34%	60.56%	2.92%	-6.80%	25.24%	-12.68%	-8.77%	-10.30%	-19.02%	4.37%	14.79%	11.55%	4.80%	44.72%	1.13%	19.40%	-0.92%	3.23%	9.09%								95.70%	-35.27%	111.06%	-30.92%	-3.24%	41.65%	-46.84%	-62.78%	245.32%	45.30%	17.97%	1670.91%	-12.70%	-420.34%	-99.59%	-19440.67%	-90.63%	-101.36%	-3071.62%	83.26%	-53.65%	-4.23%	-129.28%	-525.49%	56.48%	-75.62%	-52.15%	73.20%	38.84%	-33.63%	4.21%	-6.33%	61.38%	47.88%	-127.01%	-380.92%	-15.70%	89.35%	-160.73%	-426.80%	-25.99%	46.67%	-88.06%	293.05%
net income margin %	-124.50%	-259.95%	-299.48%	-276.42%	-225.53%	-236.04%	-332.75%	-208.07%	-222.31%	-201.00%	-316.99%	-244.98%	-270.02%	-193.63%	-146.65%	-178.17%	-201.30%	-241.06%	-258.61%	-227.88%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	-Infinity%
basic and diluted net loss per share	-1.53	-1.75	-1.7	-1.42	-1.3	-1.27	-1.94	-1.06	-1.28	-1.11	-1.78	-1.17	-1.23	-1.09	-0.8	-0.8	-0.95	-0.96	-1.07	-0.89	-1.01	-0.63	-0.64	-0.74	-0.58	-0.68	-0.81	-0.96	-1.19	-1.14	-1	-0.89	-0.88	-0.69	-0.72	-0.6	-0.61	-0.59	-0.54	-0.5	-0.47	-0.55	-0.54	-0.59	-0.36	-0.46	-0.28	-0.43																	-0.03	-0.02	-0.04	-0.04	-0.02	-0.03	-0.02	-0.1	-0.22	-0.12	-0.09	-0.17	-0.23	-0.29	-0.19	-0.13	-0.13	-0.2	-0.23	-0.12	-0.06	-0.06	-0.1	-0.07	-0.56	-0.14		-0.19
weighted-average basic and diluted common shares outstanding	199,014	211,759	189,302	180,860	164,043	173,721	154,702	148,456	140,433	142,899	137,553	136,355	123,035	120,789	119,602	118,929	112,111	117,092	109,580	103,040	97,605	101,615	96,633	89,779	84,560	89,245	81,806	77,541	76,889	77,066	76,767	76,619	66,576	65,312	62,209	62,041	61,878	61,878	61,858	61,774	60,833	49,957	44,082	39,273	39,240	37,389	31,754	31,554	26,545	25,013,000	24,875,000	24,860,000	23,348,000	24,833,000
other comprehensive income:
foreign currency translation gains	-520	-658	2,656	1,828	205.75	2,872															79	212	-51	-37	-2	-1	-37	39	5.75	2	-21	42	24.75	76	5	18
unrealized gain on marketable securities	-17	924			-158	505		-36	99	248	-132	498	-274.75	96
total comprehensive loss	-329,022	-369,755	-319,052	-255,196	-238,384	-217,147	-301,803	-157,982	-184,728	-159,760	-247,143	-159,437	-157,981	-131,602	-96,344	-95,819	-112,110	-113,038	-116,987	-91,744	-102,134	-63,447	-61,905	-66,401	-52,990	-60,683	-66,551	-74,114	-58,170.25	-87,741	-76,458	-68,482	-31,791.5	-45,103	-44,667	-37,396	-37,777	-36,564	-33,535
unrealized loss on marketable securities			-22	-441											-491	-704
other expense							-269,000	-1,100,000			-488,000	-111,000	-1,767,250	-1,514,000	-4,306,000	-1,249,000	-169,500	-476,000	-159,000		-3,500	-4,000	-46,000
foreign currency translation losses							-1,194	-855												-103
foreign currency translation loss									-862	-1,075	-2,202	-171	-313.75	-553		-494
loss on extinguishment of debt																			-17,689,000													-2,209,000
foreign currency translation income															-208		-23.25	-324	334
revenues																					30,749,500	43,643,000	42,495,000	36,860,000	45,708,000	38,885,000	29,972,000	21,902,000																																																54,000	24,000	22,000	28,000	57,000	-113,863	24,000	29,000	61,000	-122,850	27,000	34,000	62,000	26,000	1,757,000	70,000	102,000
gross profit																					23,497,000	33,021,000	32,545,000	28,422,000
yoy
qoq																					-28.84%	1.46%	14.51%
gross margin %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%
total costs and expenses																							86,659,000	88,779,000	69,730,500	95,373,000	92,138,000	91,411,000
costs and expenses:
general and administrative																													28,564,500	44,445,000	37,160,000	32,653,000	31,404,000	17,408,000	16,644,000	13,715,000	13,716,000	12,262,000	12,520,000	11,024,000	9,706,000	9,542,000	8,204,000	7,874,000	6,728,000	4,747,000	7,544,000	3,975,000	3,610,000	3,814,000	2,456,000	2,777,000	3,755,000	2,472,000	2,745,000																						1,607,000	1,190,000	1,640,000	1,293,000	-3,242,758	885,000	1,321,000	1,041,000	-2,581,523	674,000	1,123,000	788,000	911,000	601,000	766,000	706,000
other comprehensive income
other comprehensive loss:
foreign currency translation gain																																						15
cumulative translation adjustment
benefit from income taxes
net loss and comprehensive loss																																								-30,962,000	-28,607,000	-27,369,000	-23,990,000	-23,224,000	-14,298,000
other (expense) / income
other revenue																																															11,500,000
other
(benefit) from income taxes
gain on sale of assets																																																2,000
comprehensive loss:
unrealized gain on short-term investments, net of taxes
comprehensive loss																																														-17,327	-8,854	-13,678	-6,384,500	-9,183,000	-9,726,000	-6,629,000
unrealized gains on investments, net of taxes
license fees																																																					63,000	1,000	1,000	250,000
other expanded access program income																																																					690,500	434,000	977,000	1,351,000	1,320,000	1,806,000	1,864,000	1,927,000	1,815,500	2,454,000	2,738,000	2,070,000	2,798,000	2,998,000	2,619,000	2,292,000	834,750	1,424,000	1,213,000	702,000
total revenues																																																					753,500	435,000	978,000	1,601,000	1,321,000	1,807,000	1,864,000	1,929,000	1,971,250	2,475,000	3,040,000	2,370,000	2,859,000	4,071,000	2,648,000	2,317,000	1,346,750	1,452,000	2,275,000	1,660,000	122,250	226,000	210,000
impairment loss																																																						25,990,000
gain on sale of asset																																																				5,000									-294,000		13,000	127,755,000
income tax expense																																																	1,000		2,000	2,000	500			2,000	-2,000	77,000	3,000		-3,271,000			2,794,000
accretion of beneficial conversion charge
net income attributable to common stockholders																																																	-6,480,750	-9,382,000	-9,696,000	-6,845,000				-16,069,000
basic and diluted net income attributable to common stockholders per common share																																																	-260	-380	-390	-280
less: accretion of beneficial conversion feature																																																					-2,293,750			-9,175,000
net loss attributable to common stockholders																																																					-15,169,250	-34,591,000	-10,017,000
basic and diluted net loss attributable to common stockholders per common share																																																					-665	-1,390
see accompanying notes to unaudited consolidated financial statements
basic and diluted net loss attributable to common
stockholders per common share																																																							-400
weighted-average basic common shares outstanding																																																							24,830,000	18,814,000
weighted-average diluted common shares outstanding																																																							24,830,000	18,814,000
income before taxes																																																								-6,892,000	-5,846,000	-253,000	-375,000	118,000			-1,601,000
basic and diluted net income attributable to common stockholders
per common share																																																								-850
royalties																																																									1,000	1,000		2,000	19,750	21,000	30,000	28,000	61,000	29,000	29,000	25,000	20,000	28,000	17,000	35,000	26,750	24,000	30,000
grant revenue																																																													136,000		272,000	272,000		1,044,000
total expenses																																																									7,651,000	2,405,000	2,777,000	2,180,000	4,225,500	3,239,000	4,346,000	9,317,000	6,597,000	5,957,000	7,083,000	7,115,000	5,620,500	5,575,000	4,844,000	12,063,000	8,364,500	12,950,000	9,534,000
basic net income per share																																																													0.01		-0.01	0.96
shares used in computing basic net income per share																																																									-117,003	130,301	130,249	130,208
diluted net income per share																																																													0.01		-0.01	0.96
shares used in computing diluted net income per share																																																									-117,003	130,301	130,249	130,551
realized loss on investments																																																																				392,000
income (loss) before taxes																																																													29,709,500	-150,000		120,589,000
shares used in computing basic net profit per share																																																													31,518	129,442	126,178	122,522
shares used in computing diluted net profit per share																																																													31,564	129,442	126,178	122,698
interest income																																																															112,000	23,000	47,000	78,000	96,000	279,000	-893,841	370,000	224,000	301,000	528,000	520,000	577,000	312,000	200,000	236,000	252,000	64,000	-175,778	51,000	49,000	76,000	-234,712	70,000	73,000	92,000	127,000	106,000	172,000	202,000
sales																																																																					105,750			423,000	95,500	202,000	180,000
license income																																																																					386,250		1,045,000	500,000
cost of goods sold																																																																					-575,424			576,000	836,000	631,000	23,000
loss on investments																																																																		-54,000	54,000
shares used in computing basic and diluted net loss per share																																																																	62	122,314	121,989	121,904	28,069.75	121,708	113,577	101,328	23,382.75	100,231	100,152	79,987	11,484.5	47,799	44,998	44,986	9,599.75	38,406	38,395	38,395	8,665.5	37,583	33,162	33,211	8,260.25	33,139	33,034	32,948
operational restructuring
operational restructuring charge																																																																																										2,533,000
non-cash stock compensation
see accompanying notes.

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-09-30	2016-06-30	2016-03-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31

assets
current assets:
cash and cash equivalents	510,445,000	334,764,000	1,284,324,000	403,247,000	555,030,000	461,451,000	1,246,799,000	595,729,000	482,374,000	487,113,000	612,882,000	968,907,000	1,074,036,000	414,633,000	416,078,000	515,704,000	716,782,000	846,556,000	928,327,000	409,751,000	532,756,000	588,753,000	641,911,000	428,942,000	487,429,000	535,632,000	601,260,000	420,231,000	495,072,000	567,574,000	634,329,000	686,581,000	381,165,000	430,678,000	91,064,000	125,839,000	200,518,000	223,109,000	252,872,000	310,969,000	335,027,000	134,554,000	167,311,000	82,697,000	101,251,000	128,025,000	74,588,000	79,434,000	90,782,000	44,989,000	28,575,000	22,043,000	14,848,000	10,449,000	9,839,000	22,100,000	10,743,000	9,687,000	11,316,000	19,364,000	12,740,000	26,838,000								18,913,000	22,259,000	12,036,000	24,112,000	34,989,000	48,356,000	59,207,000	18,835,000	20,676,000	28,455,000	35,771,000	9,222,000	7,509,000	14,055,000	24,907,000	29,526,000	32,189,000	22,008,000	25,116,000	27,337,000	31,179,000	36,265,000	42,365,000
marketable securities	919,602,000	1,345,222,000	572,441,000	796,204,000	878,796,000	1,006,457,000			298,073,000	298,838,000	304,886,000	29,774,000	74,244,000	98,662,000	138,790,000	119,415,000	50,043,000
accounts receivable	140,857,000	65,259,000	55,033,000	47,746,000	52,012,000	42,317,000	40,300,000	37,162,000	41,189,000	35,579,000	30,947,000	30,523,000	29,713,000	27,401,000	29,481,000	25,722,000	24,351,000	19,317,000	18,417,000	17,628,000	16,562,000	15,196,000	15,173,000	17,154,000	19,232,000	15,346,000	11,638,000	9,347,000	5,515,000																								757,000	440,000	303,000	169,000	471,000	178,000	190,000	189,000	245,000	319,000	211,000	114,000	122,000	72,000	50,000	327,000	250,000	25,000		111,000	241,000	250,000	105,000
inventory	132,068,000	120,965,000	107,605,000	100,713,000	98,578,000	98,470,000	90,063,000	82,957,000	83,248,000	77,923,000	77,349,000	71,317,000	69,922,000	66,276,000	67,017,000	64,145,000	67,009,000	67,453,000	60,385,000	52,060,000	49,592,000	43,483,000	35,473,000	30,645,000	28,313,000	23,313,000	20,160,000	12,682,000	7,032,000
prepaid expenses and other current assets	91,236,000	65,597,000	62,177,000	54,782,000	37,245,000	41,150,000	41,022,000	42,874,000	24,179,000	27,123,000	26,360,000	28,542,000	25,468,000	25,193,000	23,360,000	31,154,000	28,898,000	25,655,000	31,066,000	21,565,000	23,982,000	19,717,000	14,755,000	15,769,000	20,220,000	21,313,000	15,856,000	12,372,000	11,327,000	9,921,000	10,929,000	9,832,000	8,279,000	6,802,000	5,470,000	5,785,000	5,778,000	6,201,000	5,618,000	8,289,000	7,062,000	5,689,000	3,532,000	4,015,000	4,958,000	1,720,000	1,783,000	1,418,000	643,000	605,000	715,000	178,000	370,000
total current assets	1,794,208,000	1,931,807,000	2,081,580,000	1,402,692,000	1,621,661,000	1,649,845,000	1,418,184,000	758,722,000	929,063,000	926,576,000	1,052,424,000	1,129,063,000	1,273,383,000	632,165,000	674,726,000	756,140,000	837,040,000	958,981,000	1,038,195,000	501,004,000	622,892,000	667,149,000	707,312,000	492,510,000	555,194,000	595,604,000	648,914,000	454,632,000	518,946,000	577,495,000	645,258,000	696,413,000	389,444,000	437,480,000	96,534,000	131,624,000	206,296,000	229,310,000	258,490,000	319,258,000	342,089,000	140,243,000	170,843,000	86,712,000	106,209,000	129,745,000	78,566,000	83,025,000	93,578,000	90,353,000	73,850,000	70,960,000	77,399,000	83,983,000	92,619,000	103,062,000	108,797,000	124,893,000	125,319,000	124,805,000	124,608,000	122,537,000	123,202,000	127,684,000	2,593,000	5,961,000	9,690,000	12,467,000	16,973,000	19,669,000	22,963,000	12,675,000	25,423,000	37,484,000	50,733,000	59,525,000	19,203,000	21,093,000	28,930,000	36,156,000	9,681,000	8,274,000	15,526,000	25,291,000	29,751,000	32,534,000	22,474,000	25,243,000	28,151,000	33,772,000	38,981,000	46,199,000
fixed assets	102,942,000	89,671,000	89,995,000	88,358,000	80,052,000	75,265,000	72,777,000	68,660,000	65,384,000	64,630,000	62,113,000	59,556,000	56,491,000	53,684,000	53,946,000	52,676,000	52,955,000	53,199,000	53,784,000	52,684,000	53,953,000	55,314,000	56,826,000	58,638,000	60,180,000	52,991,000	38,913,000	27,933,000	22,636,000	19,526,000	17,881,000	15,816,000	12,432,000	8,975,000	9,234,000	9,807,000	10,274,000	9,793,000	8,899,000	8,052,000	7,989,000	7,292,000	5,982,000	4,778,000	1,977,000	1,904,000	1,855,000	1,681,000	1,666,000	1,647,000	1,758,000	1,867,000	1,937,000	1,424,000	1,016,000	1,042,000	1,102,000
finance lease right-of-use assets	15,561,000	16,239,000	16,917,000	17,595,000	18,273,000	18,951,000	19,629,000	20,307,000	20,985,000	21,663,000	22,341,000	23,019,000	23,697,000	16,697,000	17,178,000	17,814,000	9,256,000	9,525,000	9,795,000	10,064,000	10,334,000	10,603,000	14,536,000	14,896,000	15,256,000
operating lease right-of-use assets	20,708,000	10,708,000	10,315,000	10,832,000	17,257,000	16,030,000	16,406,000	17,157,000	18,017,000	18,441,000	16,476,000	21,154,000	21,894,000	22,430,000	24,047,000	31,277,000	33,305,000	31,283,000	32,037,000	34,279,000	32,946,000	32,505,000	31,901,000	36,137,000	37,673,000	39,949,000	42,316,000
intangibles	97,651,000	84,588,000	56,126,000	57,389,000	58,652,000	59,915,000	61,178,000	62,441,000	63,704,000	64,967,000	66,230,000	67,493,000	68,756,000	70,020,000	71,283,000	72,546,000	73,809,000	75,071,000	46,735,000	47,998,000	49,261,000	49,937,000	51,185,000	52,433,000	53,682,000	54,930,000	56,179,000	57,427,000	58,675,000
goodwill	136,110,000	136,110,000	136,110,000	136,110,000	136,110,000	136,110,000	136,110,000	136,110,000	136,110,000	136,110,000	136,110,000	136,110,000	136,110,000	136,110,000	136,110,000	136,110,000	136,110,000	136,110,000																																					6,290,000	6,290,000	6,290,000																																	15,385,000	15,385,000	15,385,000
other assets	97,378,000	91,613,000	88,814,000	89,759,000	93,226,000	96,856,000	85,834,000	95,698,000	96,574,000	92,486,000	83,445,000	81,322,000	76,104,000	63,711,000	66,300,000	57,201,000	50,990,000	47,602,000	49,237,000	46,362,000	26,769,000	25,207,000	23,605,000	21,911,000	20,314,000	19,643,000	16,461,000	11,314,000	4,299,000	4,551,000	2,905,000	2,724,000	1,971,000	1,551,000	1,672,000	1,028,000	1,874,000	2,374,000	2,117,000	231,000	231,000	417,000	418,000	420,000	234,000	101,000	104,000	110,000	117,000
total assets	2,264,558,000	2,360,736,000	2,479,857,000	1,802,735,000	2,025,231,000	2,052,972,000	1,810,118,000	1,159,095,000	1,329,837,000	1,324,873,000	1,439,139,000	1,517,717,000	1,656,435,000	994,817,000	1,053,354,000	1,153,315,000	1,243,508,000	1,311,771,000	1,229,783,000	692,391,000	796,155,000	840,715,000	885,365,000	676,525,000	742,299,000	763,117,000	802,783,000	595,915,000	604,556,000	661,513,000	724,244,000	773,153,000	462,047,000	506,206,000	165,640,000	200,659,000	276,644,000	299,677,000	327,706,000	385,741,000	408,509,000	206,152,000	235,443,000	150,110,000	166,620,000	189,950,000	138,725,000	143,016,000	153,561,000	152,457,000	136,052,000	133,253,000	139,833,000	146,069,000	180,288,000	190,470,000	196,265,000	126,978,000	127,404,000	126,890,000	126,695,000	124,629,000	125,300,000	129,820,000	4,758,000	8,148,000	11,956,000	14,812,000	19,500,000	22,582,000	25,923,000	15,708,000	28,348,000	45,081,000	56,854,000	62,640,000	22,870,000	25,741,000	33,736,000	41,125,000	13,011,000	11,607,000	18,860,000	25,338,000	29,812,000	32,610,000	22,573,000	25,370,000	28,308,000	49,345,000	55,306,000	62,638,000
liabilities and shareholders' equity
current liabilities:
accounts payable and accrued liabilities	456,060,000	409,835,000	305,019,000	232,674,000	285,209,000	248,684,000	290,844,000	189,362,000	214,987,000	187,783,000	197,653,000	179,005,000	182,117,000	131,861,000
finance lease liabilities	3,345,000	3,246,000	3,149,000	3,054,000	2,961,000	2,871,000	2,782,000	2,695,000	2,610,000	2,527,000	2,445,000	2,158,000	1,217,000	337,000	212,000	125,000	609,000	1,198,000	1,158,000	1,119,000	1,081,000	582,000	1,305,000	1,263,000	1,221,000
operating lease liabilities	9,469,000	4,133,000	3,513,000	3,505,000	9,358,000	7,633,000	6,077,000	4,609,000	8,032,000	6,418,000	4,159,000	6,821,000	6,909,000	5,456,000	5,037,000	9,625,000	9,527,000	5,952,000	5,925,000	6,418,000	11,475,000	9,741,000	7,499,000	10,367,000	11,040,000
total current liabilities	468,874,000	417,214,000	311,681,000	239,233,000	297,528,000	259,188,000	524,151,000	420,860,000	225,629,000	196,728,000	204,257,000	187,984,000	190,243,000	137,654,000	113,816,000	125,249,000	135,166,000	112,501,000	99,656,000	81,397,000	118,807,000	83,902,000	78,754,000	71,532,000	85,240,000	85,392,000	86,030,000	94,252,000	79,732,000	57,419,000	45,642,000	34,806,000	44,656,000	28,766,000	26,272,000	23,271,000	23,458,000	32,320,000	25,543,000	46,698,000	43,067,000	41,125,000	21,278,000	21,818,000	19,998,000	19,822,000	18,101,000	20,272,000	15,747,000	6,545,000	6,486,000	4,136,000	4,477,000	3,682,000	3,492,000	4,463,000	3,339,000				2,781,000	3,584,000	4,616,000	13,384,000	4,877,000	4,377,000	5,698,000	3,870,000	3,682,000	3,828,000	3,150,000	7,010,000	9,681,000	6,226,000	6,076,000	3,405,000	4,870,000	4,019,000	3,938,000	4,147,000	5,048,000	6,030,000	5,763,000	3,307,000	2,946,000	3,221,000	3,664,000	3,213,000	3,892,000	6,465,000	7,089,000	7,413,000
debt, long-term	540,964,000	539,719,000	538,508,000	1,105,068,000	1,103,382,000	954,831,000	946,825,000	939,081,000	1,155,313,000	1,147,519,000	1,139,805,000	1,132,188,000	1,125,250,000	784,799,000	783,977,000	783,156,000	566,588,000	557,604,000	548,745,000	361,575,000	356,318,000	351,127,000	346,001,000	340,939,000	335,940,000	331,003,000	326,128,000	321,313,000	316,558,000				55,567,000	55,388,000	55,194,000	54,993,000	34,681,000	16,136,000	19,114,000				14,713,000	16,494,000	14,569,000	12,538,000	14,894,000	14,511,000	16,221,000	8,503,000	8,965,000
royalty financing agreement	162,865,000	163,854,000	163,534,000	162,508,000	161,067,000	160,049,000	158,377,000	156,967,000	155,034,000	153,430,000	152,020,000	150,173,000	148,015,000
contingent consideration	314,340,000	259,600,000	180,500,000	159,900,000	144,200,000	157,600,000	101,500,000	63,700,000	84,600,000	69,900,000	46,400,000	38,600,000	51,100,000	51,800,000	55,600,000	66,120,000	75,668,000	76,490,000
finance lease liabilities, long-term	20,719,000	21,595,000	22,439,000	23,266,000	24,064,000	24,841,000	25,588,000	26,320,000	27,026,000	27,712,000	28,370,000	29,015,000	29,636,000	22,679,000	23,135,000	23,509,000	14,103,000	13,805,000	14,114,000	14,417,000	14,713,000	15,003,000	18,855,000	19,196,000	19,529,000
operating lease liabilities, long-term	12,174,000	7,588,000	7,899,000	8,480,000	9,112,000	9,692,000	11,666,000	13,809,000	11,013,000	13,023,000	12,871,000	14,534,000	14,853,000	16,504,000	18,201,000	19,875,000	21,441,000	22,647,000	23,409,000	24,068,000	21,255,000	23,198,000	25,099,000	27,197,000	29,308,000
other long-term liabilities	5,646,000	5,595,000	5,561,000	5,121,000	499,000	3,356,000	3,193,000	3,166,000	3,145,000	5,918,000	11,161,000	9,876,000	9,387,000	11,340,000	14,384,000	15,526,000	20,074,000	23,882,000	12,806,000	9,298,000	9,178,000	10,424,000	11,338,000	10,960,000	10,608,000	11,264,000	522,000	504,000		826,000	805,000	785,000	765,000	747,000	729,000	711,000	676,000	660,000	586,000	44,000	102,000	162,000
total liabilities	1,525,582,000	1,415,165,000	1,230,122,000	1,703,576,000	1,739,852,000	1,569,557,000	1,771,300,000	1,623,903,000	1,661,760,000	1,614,230,000	1,594,884,000	1,562,370,000	1,568,484,000	1,024,776,000	1,009,113,000	1,033,435,000	833,040,000	806,929,000	698,730,000	490,755,000	520,271,000	483,654,000	480,047,000	469,824,000	480,625,000	459,076,000	446,210,000	451,778,000	396,290,000	370,106,000	353,603,000	338,297,000	100,988,000	84,901,000	82,195,000	78,975,000	58,815,000	49,116,000	45,243,000	46,742,000	43,169,000	41,287,000	36,176,000	38,562,000	34,882,000	32,825,000	33,541,000	35,411,000	32,679,000	15,845,000	16,336,000	5,119,000	5,566,000	3,727,000	3,550,000	4,666,000	3,422,000	2,292,000	3,018,000	2,463,000	2,781,000	3,584,000	4,616,000	13,384,000	7,581,000	7,414,000	9,261,000	7,822,000	8,012,000	8,158,000	7,645,000	12,017,000	14,468,000	11,328,000	10,953,000	8,061,000	12,341,000	19,453,000	24,618,000	23,576,000	5,776,000	6,700,000	6,394,000	3,877,000	3,592,000	3,959,000	4,486,000	4,120,000		7,417,000
shareholders' equity:
common stock, 0.01 par value...	2,143,000	2,126,000	2,111,000	1,819,000	1,794,000	1,788,000	1,667,000	1,486,000	1,480,000	1,430,000	1,428,000	1,364,000	1,357,000	1,217,000	1,199,000	1,193,000	1,187,000	1,184,000	1,152,000	1,033,000	1,028,000	1,018,000	1,014,000	899,000	897,000	893,000	892,000	776,000	773,000	771,000	770,000	766,000	766,000	766,000	624,000	621,000	619,000	619,000	619,000	618,000	617,000	500,000	496,000	393,000	393,000	391,000	320,000	316,000
additional paid-in capital	6,372,064,000	6,249,654,000	6,184,078,000	4,714,742,000	4,645,791,000	4,605,449,000	3,943,826,000	3,138,578,000	3,113,487,000	2,971,375,000	2,945,229,000	2,809,242,000	2,782,416,000	2,506,665,000	2,449,281,000	2,428,582,000	2,673,556,000	2,655,823,000	2,569,028,000	2,122,743,000	2,105,252,000	2,084,305,000	2,069,119,000	1,808,712,000	1,797,286,000	1,786,667,000	1,778,517,000	1,499,646,000	1,489,664,000	1,481,205,000	1,472,699,000	1,460,460,000	1,318,181,000	1,313,006,000	930,185,000	923,760,000	914,049,000	909,004,000	904,342,000	896,099,000	891,479,000	662,514,000	651,904,000	540,298,000	537,264,000	532,141,000	462,944,000	455,725,000	455,325,000	455,560,000	429,545,000	428,237,000	427,743,000	427,234,000	426,795,000	426,146,000	423,877,000	350,458,000	350,372,000	350,308,000	350,243,000	350,125,000	349,622,000	343,817,000	342,378,000	341,973,000	341,771,000		341,270,000	340,773,000	340,675,000	323,728,000	323,664,000	322,120,000	321,895,000	321,663,000
accumulated deficit	-5,636,692,000	-5,308,207,000	-4,938,186,000	-4,616,500,000	-4,359,917,000	-4,124,369,000	-3,903,845,000	-3,603,236,000	-3,446,145,000	-3,260,084,000	-3,101,151,000	-2,856,342,000	-2,696,578,000	-2,536,455,000	-2,405,310,000	-2,309,665,000	-2,265,243,000	-2,152,265,000	-2,039,551,000	-1,922,230,000	-1,830,589,000	-1,728,376,000	-1,664,717,000	-1,602,863,000	-1,536,499,000	-1,483,511,000	-1,422,829,000	-1,356,315,000	-1,282,162,000	-1,190,589,000	-1,102,846,000	-1,026,409,000	-957,885,000	-892,501,000															-335,548,000	-320,095,000	-310,714,000	-301,018,000	-294,174,000	-286,011,000	-251,422,000	-241,404,000	-234,510,000	-228,666,000	-228,336,000	-227,958,000	-228,076,000	-230,382,000	-230,232,000	-228,631,000	-346,426,000	-342,462,000	-340,299,000		-330,759,000	-327,465,000	-323,551,000	-321,050,000	-310,797,000	-289,369,000	-276,996,000	-268,085,000	-254,658,000	-241,773,000	-228,017,000	-219,493,000	-213,729,000	-207,892,000	-200,296,000	-191,285,000	-186,526,000	-184,075,000	-181,677,000	-178,437,000	-176,228,000	-157,731,000	-153,025,000	-145,918,000
accumulated other comprehensive gain	1,461,000	1,998,000	1,732,000
total shareholders' equity	738,976,000				285,379,000								87,951,000				410,468,000				275,884,000				261,674,000				208,266,000				361,059,000
total liabilities and shareholders' equity	2,264,558,000				2,025,231,000				1,329,837,000				1,656,435,000				1,243,508,000				796,155,000				742,299,000				604,556,000				462,047,000
liabilities and shareholders’ equity
shareholders’ equity:
total shareholders’ equity		945,571,000	1,249,735,000	99,159,000		483,415,000	38,818,000								44,241,000	119,880,000		504,842,000	531,053,000	201,636,000		357,061,000	405,318,000	206,701,000		304,041,000	356,573,000	144,137,000		291,407,000	370,641,000	434,856,000		421,305,000	83,445,000	121,684,000	217,829,000	250,561,000	282,463,000	338,999,000	365,340,000	164,865,000	199,267,000	111,548,000	131,738,000	157,125,000	105,184,000	107,605,000
total liabilities and shareholders’ equity		2,360,736,000	2,479,857,000	1,802,735,000		2,052,972,000	1,810,118,000			1,324,873,000	1,439,139,000	1,517,717,000		994,817,000	1,053,354,000	1,153,315,000		1,311,771,000	1,229,783,000	692,391,000		840,715,000	885,365,000	676,525,000		763,117,000	802,783,000	595,915,000		661,513,000	724,244,000	773,153,000		506,206,000	165,640,000	200,659,000	276,644,000	299,677,000	327,706,000	385,741,000	408,509,000	206,152,000	235,443,000	150,110,000	166,620,000	189,950,000	138,725,000	143,016,000																										45,081,000
accumulated other comprehensive loss				-902,000	-2,289,000		-2,830,000	-1,636,000															-98,000	-47,000	-10,000	-8,000	-7,000		-9,000				-3,000
accumulated other comprehensive income						547,000			-745,000	-2,078,000	-1,251,000	1,083,000	756,000	-1,386,000	-929,000	-230,000	968,000	100,000	424,000	90,000	193,000	114,000						30,000		20,000	18,000	39,000		34,000				12,000
current portion of long-term debt							224,448,000	224,194,000																														8,689,000	5,674,000	25,256,000	25,123,000
total shareholders’ deficit								-464,808,000
total liabilities and shareholders’ deficit								1,159,095,000
total shareholders' (deficit) equity									-331,923,000
total shareholders’ (deficit) equity										-289,357,000	-155,745,000	-44,653,000		-29,959,000
marketable securities, non-current															9,764,000
accounts payable															31,144,000	48,571,000	35,784,000	23,531,000	31,081,000	22,422,000	42,853,000	22,147,000	25,005,000	18,188,000	13,184,000	20,415,000	17,031,000	30,223,000	17,741,000	16,579,000	15,966,000	13,176,000	14,671,000	9,348,000	11,030,000	8,454,000	8,283,000	9,402,000	8,688,000	10,857,000	8,681,000	7,860,000	8,867,000	11,407,000	9,818,000	4,661,000	7,865,000	8,184,000	7,060,000	2,985,000	3,198,000	2,879,000	2,334,000	1,504,000	1,921,000	3,082,000	1,450,000	431,000	912,000	433,000	312,000	581,000	711,000	2,667,000	1,277,000	1,117,000	1,088,000	804,000	904,000	736,000	681,000	4,251,000	7,187,000	3,784,000	2,884,000	2,243,000	968,000	1,994,000	1,931,000	1,541,000	2,621,000	3,980,000	3,607,000	1,774,000	660,000	638,000	1,542,000	1,145,000	941,000	2,706,000	3,197,000	3,241,000
accrued liabilities															58,770,000	53,289,000	60,665,000	62,266,000
accrued compensation															18,653,000	13,639,000	28,581,000	19,554,000	15,939,000	10,149,000	25,591,000	16,283,000	13,021,000	8,949,000	19,140,000	13,954,000	10,218,000	16,271,000	22,208,000												2,550,000	1,584,000	3,032,000	2,071,000	1,371,000	1,953,000	1,889,000	1,359,000	2,207,000	1,581,000	849,000	510,000	795,000
marketable securities, long-term																29,551,000
accrued expenses																			45,553,000	41,289,000	37,807,000	35,149,000	31,924,000	32,687,000	40,375,000	38,908,000	49,363,000	38,317,000	38,254,000	40,368,000	29,046,000	21,074,000	29,339,000	18,802,000	14,548,000	14,143,000	14,528,000	13,513,000	10,495,000	9,903,000	6,012,000	5,976,000	3,547,000	4,546,000	3,143,000	5,652,000	3,188,000	5,329,000	2,933,000	836,000	1,882,000	193,000	800,000	1,548,000	1,162,000	915,000
other current liabilities																								78,000	280,000	130,000	234,000	82,000	1,529,000	472,000	630,000	556,000	646,000	616,000	694,000	674,000	647,000	716,000	686,000	682,000	701,000	716,000
lease liabilities																										11,985,000	9,184,000	9,359,000
long-term lease liabilities																										31,417,000	33,530,000	35,709,000
right-of-use assets																												44,609,000
intangible assets																														59,941,000
long-term debt																														311,861,000	307,156,000	302,706,000
in-process research and development																															58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	58,200,000	77,900,000	77,900,000	77,900,000
accumulated other comprehensive
current portion of long term debt																																										24,989,000	5,178,000	3,281,000	5,187,000	7,055,000	4,650,000	4,875,000	3,007,000
accrued lease expense, current																																											317,000	314,000	310,000	303,000	301,000	298,000	295,000	291,000	288,000	285,000	278,000
deferred rent																																											321,000	167,000	121,000	134,000	139,000	144,000	149,000	151,000	152,000	154,000	156,000	154,000	150,000	150,000	150,000	132,000	132,000	132,000	132,000	103,000	103,000	103,000	168,000	115,000	115,000	115,000	115,000	54,000	54,000	54,000	54,000
capital lease obligations, current																																											16,000	32,000	48,000	64,000	69,000	83,000	96,000	109,000	117,000	115,000	114,000	55,000	64,000	72,000	81,000
accrued lease expense, long-term																																											185,000	250,000	315,000	449,000	514,000	580,000	647,000	717,000	784,000	852,000	923,000
certificate of deposit																																															2,195,000	2,173,000	2,153,000	2,132,000	2,111,000	2,091,000	2,085,000	2,085,000	2,085,000	2,176,000	2,176,000	2,085,000	2,085,000	2,085,000	2,085,000	2,085,000	2,085,000	2,085,000
capital lease obligations, long-term																																														16,000	32,000	48,000	64,000	80,000	101,000	131,000	166,000	45,000	58,000	71,000	83,000
warrant to purchase common stock
warrant to purchase 329,932 shares of common stock for 2.94 per share at march 31, 2013 and december 31, 2012																																																790,000
short-term investments																																																		44,759,000	44,560,000	48,739,000	61,424,000	72,751,000	82,123,000	80,624,000	97,306,000	114,605,000	113,472,000	103,147,000	109,441,000	95,144,000
liabilities and stockholders' equity
commitments and contingencies
stockholders' equity:
common stock; .01 par value...																																																	315,000	312,000	249,000	249,000	248,000							1,302,000	1,302,000	1,302,000	1,294,000	1,250,000	1,225,000	1,223,000	1,223,000		1,219,000	1,217,000	1,217,000	1,013,000	1,013,000	1,002,000	1,002,000	1,001,000	665,000	535,000	450,000	450,000
warrant to purchase 329,932 shares of common stock for 2.94 per share at december 31, 2012																																																	790,000
accumulated other comprehensive income:
unrealized gain on investments, net of taxes
total stockholders' equity																																																	120,882,000	136,612,000	119,716,000	128,134,000	134,267,000	142,342,000	176,738,000
total liabilities and stockholders' equity																																																	153,561,000	152,457,000	136,052,000	133,253,000	139,833,000	146,069,000	180,288,000	190,470,000	196,265,000	126,978,000	127,404,000	126,890,000	126,695,000	124,629,000	125,300,000	129,820,000	4,758,000	8,148,000							28,348,000																		55,306,000
other																																																		125,000	133,000
debt, current																																																		592,000
unrealized gain on investments																																																		835,000	636,000	666,000	450,000	871,000	1,117,000	814,000	993,000
deposits																																																				135,000	212,000	377,000	378,000
deferred revenue																																																						421,000	195,000	244,000	402,000	98,000	438,000	477,000	398,000	231,000	270,000	232,000																											1,583,000	1,619,000
preferred stock; .01 par value...
prepaid expenses																																																						343,000	354,000	169,000	277,000	364,000	341,000	82,000	159,000	236,000	145,000	30,000	74,000	118,000	193,000	110,000	244,000
500,000,000; issued and outstanding shares, 24,833,301 in 2011 and 15,653,734 in 2010																																																						248,000	248,000
200,000,000; issued and outstanding shares, zero in 2011 and 9,174,589 in 2010
see accompanying notes to unaudited consolidated financial statements
restricted stock units compensation liability																																																								132,000
500,000,000; issued and outstanding shares, 24,828,101 in 2011 and 15,653,734 in 2010																																																								248,000
income tax receivable																																																										59,000		2,023,000	2,023,000
long-term assets:
deferred financing costs																																																													2,000	7,000	13,000	51,000	70,000	92,000	117,000	142,000	170,000	184,000	193,000	201,000	209,000	254,000	262,000	270,000	532,000	1,510,000	1,666,000	1,827,000
total long-term assets																																																									87,468,000	2,085,000	2,085,000	2,085,000	2,087,000	2,092,000	2,098,000	2,136,000	2,165,000	2,187,000	2,266,000	2,345,000	2,527,000	2,913,000	2,960,000	3,033,000	2,925,000	7,597,000	6,121,000	3,115,000	3,667,000	4,648,000
accrued project costs & other																																																									139,000	1,150,000	1,150,000	1,196,000	1,150,000	1,224,000	670,000	795,000	936,000	679,000	1,035,000	515,000	503,000	601,000	413,000	568,000	1,115,000	226,000	1,353,000	4,000	1,990,000
payroll liabilities																																																									1,117,000	481,000	386,000	225,000	580,000	421,000	1,035,000	5,048,000	453,000	633,000	1,178,000	799,000	631,000	1,284,000	1,243,000	2,114,000	1,302,000	2,152,000	1,690,000	926,000	1,574,000	1,364,000	1,034,000	1,407,000	1,183,000	949,000	538,000	359,000	205,000	196,000	227,000	237,000	358,000	323,000	442,000	458,000
interest payable																																																													1,000	2,000	3,000	10,000	13,000	15,000	18,000	20,000	23,000	23,000	23,000	23,000	23,000	27,000	28,000	28,000	52,000	106,000	315,000	80,000
convertible debt																																																													231,000	461,000	692,000	2,211,000	2,211,000	2,211,000	2,211,000	2,211,000	2,211,000	1,708,000	1,139,000	5,125,000	5,125,000	6,013,000	6,013,000	6,013,000	11,438,000	24,176,000	35,000,000	35,000,000
debt discount																																																													-23,000	-64,000	-118,000	-476,000	-596,000	-584,000	-784,000	-865,000	-950,000	-578,000	-403,000	-1,891,000	-1,964,000	-2,389,000	-2,466,000	-2,539,000	-5,001,000	-9,676,000	-15,186,000	-16,369,000
net convertible debt																																																													208,000	397,000	574,000	1,735,000	1,615,000	1,627,000	1,427,000	1,346,000	1,261,000	1,130,000	736,000	3,234,000	3,161,000	3,624,000	3,547,000	3,474,000	6,437,000	14,500,000	19,814,000	18,631,000
long-term liabilities:
500,000,000; issued and outstanding shares, 15,653,734 in 2010 and 13,020,810 in 2009																																																									1,565,000
200,000,000; issued and outstanding shares, 9,174,589 in 2010 and zero in 2009																																																									918,000
net stockholders' equity																																																									192,843,000	124,686,000	124,386,000	124,427,000	123,914,000	121,045,000	120,684,000	116,436,000	-2,823,000	734,000							13,880,000																		46,634,000
500,000,000; issued and outstanding shares, 130,345,819 in 2010 and 130,208,099 in 2009																																																										1,303,000
unrealized gain on investment																																																										1,591,000	1,047,000	775,000	445,000
500,000,000; issued and outstanding shares, 130,295,819 in 2009 and 122,494,010 in 2008																																																											1,303,000
accumulated other comprehensive gain:
restricted cash, long-term
restricted stock unit liability																																																																	113,000		12,000
net long-term convertible debt																																																																	487,000	820,000	1,346,000	1,735,000	2,113,000	2,261,000	2,574,000
asset retirement obligation																																																																	2,217,000	2,217,000	2,217,000	2,217,000	2,217,000	2,069,000	1,921,000	1,773,000	1,626,000	1,478,000	1,330,000	1,182,000	1,034,000	887,000	739,000	591,000	443,000	254,000	137,000
stockholders' equity
income taxes payable																																																														625,000	1,250,000	2,794,000
cash, cash equivalents and short-term investments																																																															122,846,000	127,540,000	2,397,000	5,771,000	9,447,000	12,030,000	16,479,000
restricted cash - long term																																																																	2,095,000	2,095,000	2,095,000	2,095,000			2,325,000	2,325,000	2,708,000	2,830,000	2,830,000	2,830,000		3,118,000	3,118,000	3,118,000
investments																																																																			54,000	108,000	258,000	399,000	437,000	500,000
property and equipment																																																																					4,000	4,000	5,000	7,000	8,000		3,029,000	15,000	17,000	20,000	22,000	24,000	27,000	30,000	37,000	47,000	61,000	76,000	99,000	127,000	157,000	188,000	940,000	1,054,000
deferred income																																																																	302,000	191,000	825,000	271,000	245,000
accumulated other comprehensive loss:
unrealized loss on investment																																																																					-242,000	-101,000	-63,000
liabilities and stockholders’ equity
stockholders’ equity:
net stockholders’ equity																																																																			2,695,000		11,488,000	14,424,000	18,278,000	3,691,000			45,901,000	54,579,000	10,529,000	6,288,000	9,118,000	17,549,000	7,235,000	4,907,000	12,466,000	21,461,000	26,220,000	28,651,000	18,087,000	21,250,000		41,928,000		53,606,000
total liabilities and stockholders’ equity																																																																			11,956,000		19,500,000	22,582,000	25,923,000	15,708,000			56,854,000	62,640,000	22,870,000	25,741,000	33,736,000	41,125,000	13,011,000	11,607,000	18,860,000	25,338,000	29,812,000	32,610,000	22,573,000	25,370,000	28,308,000	49,345,000		62,638,000
restricted cash																																																																						492,000	493,000	493,000	407,000	285,000	285,000	285,000	285,000	285,000	285,000	285,000	285,000	285,000	285,000
inventories																																																																									576,000	1,821,000	1,797,000
restricted cash—long term																																																																					2,095,000								3,118,000
other current assets																																																																						239,000	211,000	35,000	87,000	139,000	190,000	33,000	83,000	132,000	190,000	100,000	174,000	480,000	1,186,000	384,000	225,000	345,000	466,000	127,000	615,000	860,000	450,000	175,000
restricted cash —long term																																																																						2,326,000
property, plant and equipment																																																																										4,513,000
restructuring reserve																																																																										37,000	121,000	204,000	286,000	360,000	360,000	360,000	360,000	334,000	334,000	334,000	334,000	287,000	287,000	287,000	310,000	921,000
net shareholders’ equity																																																																										33,753,000
restructuring reserve-long-term portion																																																																														47,000	127,000	207,000				570,000	646,000	738,000	822,000	907,000		952,000
additional capital																																																																													264,522,000	247,526,000	236,685,000	236,592,000	220,515,000	212,415,000	212,378,000	212,362,000	212,362,000	212,342,000	199,432,000	199,355,000	199,344,000	199,328,000	199,328,000	199,194,000
accrued project costs																																																																														195,000	298,000	759,000	884,000	767,000	1,284,000	840,000	1,747,000	2,100,000	1,608,000		2,283,000
restricted cash—long-term portion																																																																																	3,303,000
restructuring reserve—long-term portion																																																																																	285,000
common stock, .01 par value...																																																																																	449,000	384,000	384,000	384,000	384,000
restricted cash - long-term portion																																																																																		3,303,000	3,297,000
restructuring reserve - long-term portion																																																																																		416,000	494,000
due from taisho pharmaceutical co., ltd.																																																																																									199,000	1,733,000	2,266,000	3,659,000
common stock																																																																																						384,000	332,000	332,000	332,000	331,000	331,000	330,000
accrued project costs and other																																																																																								1,544,000		2,515,000	3,307,000	3,571,000
deferred revenue — current portion
restructuring reserve — long-term portion																																																																																									968,000
total stockholders’ equity																																																																																									23,448,000
deferred revenue - current portion																																																																																											143,000
see accompanying notes.
deferred revenue—current portion																																																																																												143,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-09-30	2016-06-30	2016-03-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31

operating activities
net loss	-328,485,000	-370,021,000	-321,686,000	-256,583,000	-235,548,000	-220,524,000	-300,609,000	-157,091,000	-186,061,000	-158,933,000	-244,809,000	-159,764,000	-160,123,000	-131,145,000	-95,645,000	-94,621,000	-112,978,000	-112,714,000	-117,321,000	-91,641,000	-102,213,000	-63,659,000	-61,854,000	-66,364,000	-52,988,000	-60,682,000	-66,514,000	-74,153,000	-91,573,000	-87,743,000	-76,437,000	-68,524,000	-65,384,000	-45,179,000	-44,672,000	-37,414,000	-37,760,000	-36,579,000	-33,532,000	-30,962,000	-28,607,000	-27,369,000	-23,990,000	-23,224,000	-14,298,000	-17,327,000	-8,854,000	-13,678,000	-15,451,000	-9,382,000	-9,696,000	-6,845,000		-34,590,000											-3,964,000	-2,163,000	-4,667,000	-4,873,000	-3,297,000	-3,912,000	-2,500,000	-10,253,000	-21,428,000	-12,372,000													-3,240,000	-2,209,000	-18,497,000
adjustments to reconcile net loss to net cash from operating activities:
depreciation	3,624,000	2,458,000	2,484,000	1,883,000	1,478,000	1,459,000	1,436,000	1,588,000	1,475,000	1,493,000	1,311,000	1,248,000	2,183,000	851,000	958,000	1,286,000	2,119,000	2,238,000	2,385,000	2,388,000	2,318,000	2,295,000	2,268,000	2,266,000	1,939,000	1,004,000	1,176,000	1,069,000	925,000	954,000	929,000	769,000		714,000	738,000	716,000	674,000	568,000	514,000	463,000	447,000	432,000																																							3,000	7,000	10,000	14,000	15,000	23,000	28,000	30,000	22,000	92,000	114,000	118,000
amortization of intangible assets	1,937,000	1,538,000	1,263,000	1,263,000	1,263,000	1,263,000	1,263,000	1,263,000	1,263,000	1,263,000	1,263,000	1,263,000	1,264,000	1,263,000	1,263,000	1,263,000	1,262,000	1,264,000	1,263,000	1,263,000	1,258,000	1,248,000	1,248,000	1,249,000	1,248,000	1,249,000	1,248,000	1,248,000
stock-based compensation expense	39,039,000	31,433,000	42,976,000	39,262,000	26,554,000	25,545,000	23,286,000	21,450,000	19,983,000	19,993,000	18,359,000	16,443,000	14,950,000	15,654,000	14,259,000	12,823,000	11,520,000	12,231,000	11,735,000	10,535,000	8,779,000	8,909,000	9,468,000	9,002,000	5,888,000	6,794,000	7,353,000	6,936,000	6,035,000	7,902,000	6,629,000	5,674,000	4,741,000	4,741,000
amortization of debt issuance costs	1,376,000	1,342,000	1,676,000	1,822,000	1,748,000	1,485,000	1,800,000	1,851,000	1,752,000	1,840,000	2,004,000	1,724,000						541,000	457,000	350,000	349,000	350,000	349,000	349,000	350,000	349,000	349,000	349,000	350,000	415,000	286,000	299,000	27,000
paid-in-kind interest capitalized					0	6,662,000	6,329,000	6,242,000	6,170,000	6,001,000	5,745,000	5,456,000
royalty financing non-cash interest expense	5,331,000	5,129,000	5,192,000	5,023,000	5,065,000	5,264,000	4,893,000	4,822,000	4,830,000	10,170,000	1,231,000	2,615,000
accretion of discount on marketable securities	-10,397,000	-12,041,000	-7,578,000	-8,332,000	-11,027,000	-6,170,000	0	-1,963,000	-3,092,000
finance lease amortization expense	678,000	678,000	678,000	678,000	678,000	678,000	678,000	678,000	678,000	678,000	678,000	678,000	114,000	481,000	636,000	729,000	269,000	270,000	269,000	270,000	269,000	89,000	360,000	360,000
non-cash operating lease expense	6,904,000	1,174,000	888,000	686,000	1,358,000	619,000	-4,905,000	6,516,000	783,000	1,124,000	4,808,000	2,491,000
change in fair value of deferred and contingent consideration liabilities	70,040,000	104,653,000	59,000,000	18,300,000	-14,800,000	14,682,000	103,700,000	-11,900,000	15,700,000	8,997,000	13,500,000	-9,500,000	-1,800,000	5,238,000	-12,622,000	-11,618,000	-966,000
change in fair value of interest rate swap					-870,000	3,852,000	-384,000	-2,362,000	-1,970,000	1,301,000	-1,184,000	1,533,000
vertuis acquisition									0	0	0	10,250,000
adrestia acquisition									0	0
changes in operating assets and liabilities:
accounts receivable	-77,300,000	-10,226,000	-6,142,000	5,361,000	-11,817,000	-35,000	-4,035,000	2,955,000	-4,535,000	-5,137,000	-1,431,000	-860,000	-983,000	1,344,000	-4,986,000	-1,798,000	-5,243,000	-1,020,000	-789,000	-1,066,000	-1,366,000	-23,000	1,981,000	2,078,000	-3,886,000	-3,708,000	-2,291,000	-3,832,000																					0	0	0	757,000	-317,000	-137,000	-134,000	302,000	-48,000	12,000	-1,000	56,000	74,000	-108,000	-97,000	8,000	-50,000	-22,000	277,000	-77,000	-225,000	-25,000	111,000	130,000	9,000	-145,000
inventory	-11,764,000	-13,758,000	-4,976,000	-1,021,000	-2,122,000	-6,569,000	-7,755,000	-598,000	-4,434,000	-1,098,000	-6,894,000	-1,187,000	-2,338,000	-100,000	-1,516,000	2,240,000	1,132,000	-7,031,000	-8,803,000	-2,754,000	-6,064,000	-7,956,000	-4,828,000	-2,332,000	-5,000,000	-3,153,000	-7,478,000	-5,650,000																																									0	0	0	576,000		-24,000
prepaid expenses and other current assets	-26,224,000	-3,732,000	-6,534,000	-16,941,000	2,799,000	842,000	1,507,000	-19,330,000	3,461,000	-1,041,000	3,044,000	-3,199,000	722,000	-2,295,000	6,853,000	-2,752,000	-3,452,000	5,387,000	-9,540,000	2,056,000	-3,745,000	-4,793,000	1,083,000	4,341,000	1,438,000	-5,568,000	-3,527,000	-1,061,000
other assets	-11,787,000	-2,851,000	2,347,000	10,168,000	2,710,000	-10,074,000	15,366,000	333,000	-3,169,000	-9,447,000	-2,227,000	-5,231,000	-12,220,000	2,508,000	-9,242,000	-6,289,000	-3,441,000	1,629,000	-2,892,000	-19,731,000	-1,475,000	-1,535,000	-1,683,000	-1,568,000	-703,000	-3,218,000	-5,043,000	-7,044,000																																		-91,000	-115,000	44,000	44,000	75,000	-83,000	134,000	-5,000	-28,000	-176,000	52,000	52,000	51,000	-157,000	50,000	49,000	58,000	-90,000	74,000	306,000	706,000	-802,000	-159,000	120,000	121,000	-339,000	488,000				103,000
accounts payable and accrued liabilities	90,346,000	45,559,000	25,658,000	-61,490,000	41,130,000	725,000	35,082,000	-32,345,000	21,709,000	-6,778,000	9,065,000	-8,841,000	34,874,000
other liabilities	-914,000	-1,096,000	-815,000	-2,167,000	-4,578,000	-620,000	-604,000	-6,144,000	-5,362,000	-468,000	-3,736,000	-1,422,000	8,768,000																																																																							154,000	9,000	-31,000	-10,000	-121,000				-297,000
net cash from operating activities	-247,596,000	-219,761,000	-205,569,000	-262,088,000	-195,979,000	-180,916,000	-122,952,000	-184,035,000	-130,819,000	-136,333,000	-122,792,000	-146,303,000	-103,149,000	-89,828,000	-102,301,000	-105,161,000	-84,132,000	-75,445,000	-75,444,000	-128,281,000	-66,792,000	-58,668,000	-35,953,000	-57,935,000	-44,404,000	-52,368,000	-80,030,000	-73,847,000	-69,538,000	-65,488,000	-54,912,000	-68,039,000	-48,221,000																-8,926,000	-9,188,000	-7,286,000	-5,612,000	-6,065,000	-8,008,000	-11,023,000	-5,109,000	-8,917,000	-1,040,000	2,004,000	231,000	775,000	-1,139,000	-8,554,000	-2,094,000	-2,880,000	-3,119,000	-2,097,000	-3,896,000	-3,212,000	-3,346,000	-6,824,000	-11,873,000	-10,803,000	-11,886,000	-7,837,000	-11,678,000	-6,209,000	-7,867,000	-7,394,000	-6,295,000	-6,452,000	-6,544,000	-7,286,000	-4,619,000	-2,683,000	-2,781,000	-3,066,000	-2,232,000	-3,859,000			-8,903,000
capital expenditures	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0																0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
free cash flows	-247,596,000	-219,761,000	-205,569,000	-262,088,000	-195,979,000	-180,916,000	-122,952,000	-184,035,000	-130,819,000	-136,333,000	-122,792,000	-146,303,000	-103,149,000	-89,828,000	-102,301,000	-105,161,000	-84,132,000	-75,445,000	-75,444,000	-128,281,000	-66,792,000	-58,668,000	-35,953,000	-57,935,000	-44,404,000	-52,368,000	-80,030,000	-73,847,000	-69,538,000	-65,488,000	-54,912,000	-68,039,000	-48,221,000																-8,926,000	-9,188,000	-7,286,000	-5,612,000	-6,065,000	-8,008,000	-11,023,000	-5,109,000	-8,917,000	-1,040,000	2,004,000	231,000	775,000	-1,139,000	-8,554,000	-2,094,000	-2,880,000	-3,119,000	-2,097,000	-3,896,000	-3,212,000	-3,346,000	-6,824,000	-11,873,000	-10,803,000	-11,886,000	-7,837,000	-11,678,000	-6,209,000	-7,867,000	-7,394,000	-6,295,000	-6,452,000	-6,544,000	-7,286,000	-4,619,000	-2,683,000	-2,781,000	-3,066,000	-2,232,000	-3,859,000
investing activities
purchase of fixed assets	-16,589,000	-2,418,000	-3,484,000	-10,070,000	-6,772,000	-3,689,000	-6,783,000	-4,679,000	-2,153,000	-2,854,000	-4,883,000	-3,398,000	-4,691,000	-582,000	-2,904,000	-1,701,000	-1,142,000	-1,481,000	-3,485,000	-1,181,000	-933,000	-747,000	-1,881,000	-2,679,000	-13,038,000	-14,592,000	-10,610,000	-4,028,000	-3,027,000	-1,851,000	-2,847,000	-5,365,000	-1,700,000																-168,000	-27,000	-29,000	-66,000	-424,000	-487,000	-54,000	-14,000
payment of az milestone
purchase of marketable securities	0	-1,184,815,000	-276,681,000	-630,518,000	-577,470,000				-296,044,000	1,000			0	0	0	-99,706,000
cash acquired in asset acquisition									0	0
maturities of marketable securities	436,000,000	425,000,000	508,000,000	721,000,000	716,000,000	0	0	300,000,000	300,000,000	10,000,000	20,000,000	45,000,000	25,000,000
net cash from investing activities	389,411,000	-762,233,000	227,835,000	80,412,000	131,758,000	-1,003,471,000	-6,783,000	295,321,000	1,803,000	7,147,000	-274,156,000	41,602,000	20,309,000	49,418,000	-2,904,000	-101,407,000	-51,218,000	-8,401,000	-3,485,000	-1,181,000	-1,515,000	-747,000	-1,881,000	-2,679,000	-13,038,000	-14,592,000	-10,610,000	-4,028,000	-4,751,000	-1,851,000	-2,847,000	-5,365,000	-1,700,000																44,589,000	-28,000	4,120,000	12,841,000	10,482,000	8,640,000	-1,249,000	16,487,000	9,976,000	-589,000	-10,053,000	6,624,000	-14,392,000	-6,873,000	-87,750,000	127,755,000	3,245,000	4,571,000	-744,000	5,601,000	9,066,000	0	0	-500,000	-517,000	-1,487,000
financing activities
proceeds from exercise of stock options and espp	34,635,000	34,413,000	36,965,000	29,704,000	13,740,000	26,880,000	68,571,000	4,052,000	7,636,000	2,341,000	7,283,000	1,139,000															10,455,000	3,049,000
proceeds from issuance of common stock	0	-256,000			-12,000	370,978,000			114,461,000	0			258,770,000				0	0			1,000	-47,000			0	-104,000							-47,000							0									-1,000				0	0							0	0															4,368,000	88,000	78,000	87,000	8,165,000	4,000			20,000	12,962,000	-42,000	11,000	17,000	0	135,000	18,000
proceeds from issuance of term loan
payments of principal of 0.75% convertible senior notes due 2028	0	0
payment of debt issuance costs									0	0	0	-1,218,000					-16,000	311,000											-2,000	0	-94,000	-14,141,000
payments of finance lease principal	-776,000	-747,000	-732,000	-706,000	-686,000	-658,000	-645,000	-621,000	1,166,000	-1,092,000	-971,000	-320,000		-336,000	-135,000	-359,000		-269,000	-264,000	-258,000		-179,000	-298,000	-292,000
net cash from financing activities	33,859,000	33,410,000	857,806,000	28,998,000	159,305,000	397,200,000	781,493,000	3,022,000	123,263,000	1,249,000	44,326,000	-399,000	743,387,000	37,116,000	6,311,000	6,459,000	5,710,000	2,536,000	597,597,000	6,703,000	12,011,000	6,102,000	250,756,000	2,134,000	9,238,000	1,358,000	271,633,000	3,049,000	1,797,000	605,000	5,549,000	378,792,000	433,000	378,222,000	1,869,000	565,000	9,692,000	47,000	81,000			1,475,000	108,438,000	-60,000	337,000	67,790,000			10,130,000	25,630,000	9,698,000	-34,000	-18,000	-22,000	11,000	-21,000	-3,000	0	1,000	-231,000	-229,000	-233,000	3,847,000	-518,000	-494,000	-557,000	-486,000	-553,000	778,000	0	17,047,000	297,000	443,000	6,000	2,000	52,050,000	4,368,000	88,000	78,000	32,844,000	8,165,000				20,000	12,962,000	-42,000	11,000	17,000	0	135,000	18,000
effect of exchange rates on cash and cash equivalents	7,000	-976,000	1,005,000	895,000	-1,505,000	1,839,000	-688,000	-953,000	1,014,000	2,168,000	-3,403,000	-29,000	-1,144,000	1,849,000	-732,000	-969,000	-134,000	-461,000	-92,000	-246,000	299,000	155,000	47,000	-7,000	1,000	-26,000	36,000	-15,000	-10,000	-21,000	-42,000	28,000	-25,000	77,000	39,000	12,000			31,000
net increase in cash and cash equivalents			881,077,000	-151,783,000			651,070,000	113,355,000					659,403,000	-1,445,000			-129,774,000	-81,771,000			-55,997,000	-53,158,000			-48,203,000	-65,628,000	181,029,000	-74,841,000	-72,502,000	-66,755,000	-52,252,000	305,416,000	-49,513,000
cash and cash equivalents at beginning of period	0	0	0	555,030,000	0	0	0	482,374,000	0	0	0	1,074,036,000	0	0	0	716,782,000	0	0	0	532,756,000	0	0	0	487,429,000	0	0	0	495,072,000	0	0	0	381,165,000	0	0	0	162,591,000	0	0	282,876,000	0	0	159,226,000	0	0	113,894,000	0	0	90,782,000	0	0	0	14,848,000	0	0	0	10,743,000	0	0	0	12,740,000	-252,000	0	0	2,397,000	0	0	0	3,554,000		0	0	24,112,000		0	0	18,835,000	0	0	0	9,222,000	0	0	0	29,526,000	0	0	0	27,337,000		0	0	51,250,000
cash and cash equivalents at end of period	175,681,000	-949,560,000	881,077,000	403,247,000	93,579,000	-785,348,000	651,070,000	595,729,000	-4,739,000	-125,769,000	-356,025,000	968,907,000	659,403,000	-1,445,000	-99,626,000	515,704,000	-129,774,000	-81,771,000	518,576,000	409,751,000	-55,997,000	-53,158,000	212,969,000	428,942,000	-48,203,000	-65,628,000	181,029,000	420,231,000	-72,502,000	-66,755,000	-52,252,000	686,581,000	-49,513,000	339,614,000	-34,775,000	125,839,000	-22,591,000	-29,763,000	252,872,000	-24,058,000	200,473,000	134,554,000	84,614,000	-18,554,000	101,251,000	53,437,000	-4,846,000	79,434,000	45,793,000	16,414,000	6,532,000	22,043,000	4,399,000	610,000	-12,261,000	22,100,000	1,056,000	-1,629,000	-8,048,000	19,364,000	-14,098,000	-8,245,000	-92,457,000	127,540,000	-129,000	895,000	-3,327,000	4,706,000		-3,346,000	10,223,000	12,036,000		-13,367,000	-10,851,000	59,207,000	-1,841,000	-7,779,000	-7,316,000	35,771,000	1,713,000	-6,546,000	-10,852,000	24,907,000	-2,663,000	10,181,000	-3,108,000	25,116,000		-5,086,000	-6,100,000	42,365,000
supplemental disclosures of cash flow information:
cash paid for interest	13,510,000	15,452,000	13,269,000	13,122,000	15,240,000	8,632,000	8,485,000	8,210,000	8,326,000	7,970,000	7,902,000	11,589,000	2,715,000	2,438,000	2,629,000	2,375,000	2,688,000	2,291,000	1,640,000	4,271,000	339,000	4,028,000	438,000	4,381,000	3,000	3,939,000	2,000	3,939,000	1,314,000	3,699,000	1,000	1,275,000	1,289,000	1,302,000	1,301,000	1,273,000	899,000	597,000	975,000	724,000	843,000	663,000	473,000	467,000	463,000	472,000	468,000	476,000	234,000	161,000	1,000	2,000	1,000	2,000						3,000	72,000	-52,000	24,000	38,000	52,000	53,000	61,000	68,000	68,000	70,000	70,000	71,000	71,000	83,000	82,000	83,000	281,000
cash paid for income taxes	111,000	1,177,000	677,000	2,176,000	248,000	689,000	354,000	1,208,000	75,000	518,000	358,000	1,004,000	91,000	432,000	559,000	635,000	107,000	454,000	325,000	672,000	34,000	308,000	58,000	414,000	19,000	120,000	22,000	178,000		34,000	39,000	54,000	104,000	21,000	24,000	17,000	23,000
net decrease in cash and cash equivalents										-125,769,000	-356,025,000	-105,129,000				-201,078,000				-123,005,000				-58,487,000
payments of equity issuance costs								-409,000
proceeds from issuance of term loans
proceeds from issuance royalty financing agreement
loss on extinguishment of debt																	0	0											4,418,000	0	0	-2,209,000
accretion of debt discount																		8,318,000	7,482,000	4,907,000		4,776,000						4,406,000	4,348,000	4,289,000	4,231,000	3,021,000
cash paid for business acquisition																	216,000
payment on extinguishment of 1.75% convertible senior notes due 2025																	0	0
payment of principal of 1.75% convertible senior notes due 2025
proceeds from issuance of 0.75% convertible senior notes due 2028																	0	0
noncash operating lease expense													536,000	1,675,000	7,396,000	2,369,000	1,371,000	1,668,000	4,342,000	5,208,000	764,000	-604,000	4,236,000	1,536,000
pari milestone upon regulatory approvals
other financing activities
amortization of debt issuance costs and accretion of debt discount														822,000	821,000	822,000
cash from business acquisition
proceeds from exercise of stock options, espp, and rsu vestings														4,069,000	6,446,000	6,818,000
payment of principal on 1.75% convertible senior notes due 2025																		0
accounts payable															-16,921,000	13,363,000	11,279,000	-7,696,000	9,115,000	-20,273,000	20,705,000	-3,055,000	8,006,000	4,169,000	-6,376,000	2,694,000	-10,783,000	9,499,000	1,334,000	555,000	2,809,000	-828,000	4,525,000	-1,688,000			-861,000	695,000	527,000				-1,096,000	-247,000	3,889,000		-319,000	1,124,000	4,075,000	-213,000	319,000	545,000	830,000	-417,000	-1,161,000	1,632,000	-2,869,000	-481,000	479,000	121,000	-269,000	-130,000	-1,956,000	1,390,000	160,000	29,000	284,000	-100,000	172,000	53,000	-3,571,000	-2,936,000	3,403,000	900,000	641,000	1,275,000	-1,026,000	63,000	390,000	-1,080,000	-1,359,000	373,000	1,833,000	1,114,000	22,000	-904,000	397,000	204,000	-1,765,000			-1,186,000
accrued liabilities, accrued compensation and other															6,445,000	-22,978,000
proceeds from exercise of stock options, espp, and rsu vesting																			6,566,000	6,961,000	12,177,000	6,328,000	5,142,000	2,426,000	4,735,000
accrued liabilities and other
accrued compensation																		3,760,000	5,780,000	-15,107,000	8,849,000	3,051,000	4,072,000	-10,191,000	5,186,000	3,736,000	-6,053,000	-5,937,000																					626,000	732,000	339,000	-285,000
accrued expenses and other																			3,384,000	-4,686,000	-62,000	2,239,000	-5,372,000	-7,480,000	-6,210,000	3,609,000	7,067,000	323,000	9,320,000	8,802,000	8,077,000	-6,283,000	8,716,000				800,000
accretion of debt discount and back-end fee on debt																								4,650,000
proceeds from issuance of 1.75% convertible senior notes due 2025																													0	0	0	450,000,000
payment of debt principal and extinguishment costs
payment of financing lease principal
proceeds from tenant improvement allowance
pari milestone upon fda approval
payment on extinguishment of debt
payment of debt																													0	0	0	-55,000,000
accretion of debt discount and back-end fee																										4,526,000
accretion of back-end fee on debt																													0	0	0	50,000
prepaid expenses and other assets																													-1,199,000	-662,000	-1,436,000	-2,217,000	-1,731,000	-1,180,000	-224,000	352,000													-5,000	88,000	-526,000	263,000	138,000	12,000
proceeds from issuance of debt
cash paid for taxes																																																		0	2,000	2,000		0			-2,023,000	136,000
proceeds from exercise of stock options																														605,000	5,643,000	142,000	480,000	519,000	1,869,000	565,000	0	47,000	81,000	825,000	2,701,000	1,475,000	438,000	56,000	353,000	794,000	626,000	51,000
depreciation and amortization																																											355,000	175,000	167,000	171,000	156,000	148,000	149,000	138,000	138,000	136,000	110,000	79,000	79,000	75,000	29,000	0	0	25,000	46,000	60,000	396,000	205,000	230,000	251,000	270,000	292,000	147,000	91,000	86,000	82,000	472,000	88,000	83,000	2,726,000	5,656,000	5,668,000	1,347,000	226,000
accrual of the end of term charge on the debt																																								19,000	11,000	27,000	24,000	29,000	33,000	29,000	48,000	49,000
amortization of debt discount and debt issuance costs																																			30,000	31,000	175,000	37,000	38,000	114,000	123,000	106,000	91,000	90,000	102,000	20,000	118,000	118,000
accretion of backend fee on debt
stock based compensation expense																																				4,032,000	5,045,000	4,615,000	4,219,000	3,796,000	3,439,000	4,522,000	3,256,000	2,978,000	2,358,000	1,457,000	3,999,000	954,000	1,463,000	505,000	518,000	495,000	508,000	439,000	485,000	167,000	151,000	86,000	64,000	65,000	117,000	503,000	483,000	1,439,000	345,000	207,000	165,000	133,000	294,000	98,000	73,000	56,000	204,000	200,000	211,000	270,000
accrual of backend fee on debt																																				171,000
cash received for taxes																																								0	0	994,000	0	0	4,389,000
accrued expenses and other current liabilities																																								-321,000	160,000	1,723,000
payments on capital lease obligations																																																	-29,000	-29,000	-28,000	-34,000	-18,000	-22,000	-21,000	-21,000
net cash provided by financing activities
net increase (decrease) in cash and cash equivalents
decrease in cash and cash equivalents																																																						610,000																													-10,852,000	-4,619,000			-3,108,000	-2,221,000	-3,842,000
gain on sale of asset																																																	0	0	0	-5,000									294,000	0	-13,000	-127,755,000
accrued expenses and deferred rent																																														2,459,000	-338,000	1,787,000	891,000
accrued lease expenses																																																	-66,000	-64,000	-65,000	-64,000
purchases of fixed assets
proceeds from sale of asset																																														0	0	2,000	0	0
maturity of certificate of deposit
net cash (used in) / provided by investing activities
net proceeds from issuances of common stock
increase in cash and cash equivalents																																																	45,793,000	16,414,000	6,532,000	7,195,000				11,357,000	1,056,000	-1,629,000	-8,048,000	6,624,000			-92,457,000	125,143,000			-3,327,000	1,152,000	6,632,000	-3,346,000	10,223,000	-12,076,000	-10,877,000	-13,367,000	-10,851,000	40,372,000	-1,841,000	-7,779,000	-7,316,000	26,549,000	1,713,000				-2,663,000							-8,885,000
supplemental disclosures of non-cash investing and financing activities:
value of warrant exercised by converting the warrant into shares of common stock																																														0
adjustments to reconcile net loss to net cash used in operating activities:
gain on sale of assets
accrued lease expense
maturity of a certifcate of deposit
sales of short-term investments																																																	64,414,000	-1,000	4,144,000	12,907,000	10,482,000	9,249,000	181,000	16,588,000	24,414,000	21,500,000	42,846,000	26,393,000
borrowings of long-term debt, net of issuance costs
net proceeds from issuance of common stock
unrealized gain on investments																																																		199,000	-30,000	216,000	-421,000	-246,000	303,000	-179,000
value of warrant granted in connection with debt financing
net cash (used in) provided by investing activities
net cash from (used in) investing activities
net cash from (used in) financing activities																																																22,000
gain on sale of short-term investments
impairment loss																																																					0
income tax receivable																																																									59,000	-59,000
deferred revenue																																																					-421,000	226,000	-49,000	-158,000	304,000	-340,000	-39,000	79,000
cash consideration for merger, net of cash acquired
purchases of short-term investments																																																					424,000	-122,000	-1,376,000	-87,000	-7,705,000	-22,089,000	-52,899,000	-19,769,000	-14,098,000
repayment of convertible notes																																																									0	0	0	-231,000	-230,000	-231,000	-232,000	-553,000	-553,000	-552,000	-553,000	-553,000
other																																																									3,000	0			3,000	8,000	6,000	25,000	59,000	-5,000			55,000	0			184,000	6,000	107,000	28,000
capital lease obligations incurred
unrealized loss on investments
accretion of beneficial conversion charge
fair value of warrant granted in connection with debt financing
conversion of series b preferred stock into common stock
issuance of common stock upon merger
issuance of preferred stock upon merger
amortization of financing costs
proceeds from issuance of debt, net of issuance and financing costs
supplemental disclosures of cash flow information
supplemental disclosures of non-cash investing and financing activities
fair value of warrants in connection with debt																																																		0
adjustments to reconcile net income to net cash from operating activities:
accrued expenses																																																			1,687,000	-609,000	371,000	390,000	247,000	-341,000
proceeds from issuance of debt net of issuance and financing costs
adjustments to reconcile net income to net cash (used in) provided by operating activities:
net income																																																								-6,894,000	-5,844,000	-330,000	-378,000	118,000	2,306,000	-150,000	-1,601,000	117,795,000												-13,427,000	-12,885,000	-13,756,000	-8,524,000	-5,764,000	-5,837,000			-4,759,000								-6,107,000
restricted stock unit liability																																																													0	0	0	-113,000
asset retirement obligation																																																													0	0	0	-2,217,000					148,000	148,000	148,000	147,000	148,000	148,000	148,000	148,000	147,000				189,000	117,000
interest payable																																																									0	0	0	-1,000	-1,000	-1,000	-7,000	-3,000	-2,000	-3,000	-2,000	-3,000					-4,000	-1,000	0	-24,000	-54,000	-209,000	235,000	80,000
cash received from asset sale																																																													-294,000	0	13,000	127,755,000
warrants converted into shares																																																													-2,000	0											259,000	0	0	8,810,000
purchase of capital leases
adjustments to reconcile net loss to net cash
provided by operating activities:
accretion of beneficial conversion feature																																																						0	0	-9,175,000
see accompanying notes to unaudited consolidated financial statements
adjustments to reconcile net
adjustments to reconcile net income to net cash
from operating activities:
prepaid expenses																																																								108,000	127,000	-23,000	-259,000	77,000
used in provided by operating activities:
change in trading securities
realized loss on investments																																																																	0			392,000
accrued project costs & other																																																												46,000	-74,000	554,000	-125,000	-141,000
payroll liabilities																																																									300,000	95,000	161,000	-355,000	159,000	-614,000	-4,013,000	4,595,000	-180,000	-545,000	379,000	168,000	-653,000	41,000	-871,000	812,000	-850,000	462,000	764,000	-648,000	210,000	330,000	-373,000	224,000	234,000	411,000
income tax liability																																																														-625,000	-1,544,000	2,794,000
deferred rent																																																													29,000	0	0	-65,000
certificate of deposits																																																															0	10,000
supplemental information
used in operating activities:
stock options issued for services																																																																		0			-1,000	0	31,000	8,000	20,000	19,000	20,000	20,000	20,000
change in certificate of deposits																																																													0
decreases in short-term investments
deferred income																																																														-39,000	38,000	-70,000	111,000	-634,000	554,000	26,000
increase (decrease) in cash and cash equivalents
(increases) decreases in short-term investments
stock and stock options issued for services
impairment of property, plant & equipment
purchases of investments																																																																					0	0	0	-500,000
purchases of property, plant and equipment
public offering																																																																					0	0
issuance costs																																																																					0	0			0	0	-105,000	-316,000
total proceeds from issuance of common stock																																																																	59,000	-5,000			55,000	0			443,000	6,000	2,000	51,762,000
(decrease) increase in cash and cash equivalents
accrued project costs																																																																		-356,000	520,000	12,000		188,000	-155,000	-547,000			1,350,000	-1,986,000	1,795,000	-103,000	-461,000	-125,000	117,000	-517,000	444,000	-907,000
decreases of short-term investments																																																																		4,571,000	-744,000	5,601,000
loss on investments
costs incurred in conjunction with issuance of debt																																																																													0	0	0	-2,428,000
cash restricted to restricted letters of credit																																																																								297,000	0	0			0	0	0	185,000
non-cash stock acceleration																																																																													0	1,000
impairment of property, plant and equipment
decreases (increases) of short-term investments
proceeds from issuance of convertible debt with detachable stock warrants																																																																													0			35,000,000
changes in cash restricted to restricted letters of credit																																																																					723,000	0
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
public offering - issuance of 23 million shares																																																																									0	0	0	43,240,000
inventories
accrued project costs and other																																																																									889,000												-353,000			-739,000				-1,396,000
restructuring reserve																																																																										-84,000	-83,000	-82,000	-121,000	-80,000	-80,000	-78,000	-105,000	-78,000	-76,000	-76,000	-45,000	-84,000	-85,000	-84,000
purchases of property, plant & equipment
purchase of property, plant and equipment
decrease in cash restricted to restricted letters of credit																																																																												288,000
net income per share																																																																												-130		-100	-60	-130				-120
pro-forma fair value stock compensation expense																																																																												-560,000		426,000	-57,000	-560,000				-480,000
pro-forma net income																																																																												-6,324,000		-4,806,000	-2,817,000	-6,324,000				-5,239,000
pro-forma net income per share																																																																												-140		-90	-60	-140				-140
due from taisho pharmaceutical co., ltd.																																																																																					0	0	0	199,000	1,534,000	533,000	1,393,000	-138,000
furniture and office equipment
accumulated depreciation
property and equipment
stock based employee compensation cost
asset retirement obligations																																																																															148,000	148,000
proceeds from issuance of convertible debt
stock issued for services																																																																																	0					0
cash restricted to support letters of credit
cash in restricted letters of credit																																																																																		-6,000
amortization of goodwill
goodwill impairment charge
operational restructuring—non-cash
recognition of deferred revenues																																																																																									0
loss on sale of marketable securities
issuance of stock for services
changes in operating assets and liabilities
proceeds from marketable securities matured and sold
purchases of property and equipment
operational restructuring																																																																																									-586,000
initial license fee — taisho
non-cash stock compensation
purchased research and development
other current assets
purchases of marketable securities
acquisition of celtrix pharmaceuticals, inc., net of cash acquired
repayment of notes receivable from stock sales
see accompanying notes.
gain on sale of marketable securities

Insmed Incorporated(NASDAQ:INSM)

Insmed Incorporated
(NASDAQ:INSM)