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Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2020	Jul. 24, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-36014
Entity Registrant Name	AGIOS PHARMACEUTICALS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-0662915
Entity Address, Address Line One	88 Sidney Street
Entity Address, City or Town	Cambridge
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02139
City Area Code	617
Local Phone Number	649-8600
Title of 12(b) Security	Common Stock, Par Value $0.001 per share
Trading Symbol	AGIO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		69,110,084
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Central Index Key	0001439222
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 295,858	$ 80,931
Marketable securities	494,270	483,946
Accounts receivable, net	12,023	8,952
Collaboration receivable – related party	2,537	1,539
Collaboration receivable – other	1,827	1,928
Royalty receivable – related party	1,650	2,900
Inventory	11,231	7,331
Prepaid expenses and other current assets	26,959	24,177
Total current assets	846,355	611,704
Marketable securities	4,285	152,929
Operating lease assets	89,208	93,643
Property and equipment, net	33,925	31,472
Financing lease assets	793	993
Other assets	1,575	0
Total assets	976,141	890,741
Current liabilities:
Accounts payable	15,461	21,896
Accrued expenses	41,911	53,142
Deferred revenue – related party	0	10,933
Operating lease liabilities	6,672	6,642
Financing lease liabilities	309	273
Total current liabilities	64,353	92,886
Deferred revenue, net of current portion – related party	0	50,580
Operating lease liabilities, net of current portion	101,874	106,074
Financing lease liabilities, net of current portion	491	673
Liability related to the sale of future revenue, net of debt issuance costs	250,958	0
Total liabilities	417,676	250,213
Stockholders’ equity:
Preferred stock, $0.001 par value; 25,000,000 shares authorized; no shares issued or outstanding at June 30, 2020 and December 31, 2019	0	0
Common stock, $0.001 par value; 125,000,000 shares authorized; 69,058,696 and 68,401,105 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	69	68
Additional paid-in capital	2,203,599	2,156,363
Accumulated other comprehensive income	1,636	202
Accumulated deficit	(1,646,839)	(1,516,105)
Total stockholders’ equity	558,465	640,528
Total liabilities and stockholders’ equity	$ 976,141	$ 890,741

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (in usd per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	125,000,000	125,000,000
Common stock, shares issued (in shares)	69,058,696	68,401,105
Common stock, shares outstanding (in shares)	69,058,696	68,401,105

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Total revenue	$ 37,347	$ 26,221	$ 124,445	$ 56,448
Cost and expenses:
Cost of sales	675	303	1,208	637
Research and development	90,917	107,389	182,173	202,974
Selling, general and administrative	35,951	32,390	74,452	64,181
Total cost and expenses	127,543	140,082	257,833	267,792
Loss from operations	(90,196)	(113,861)	(133,388)	(211,344)
Interest income, net	1,769	3,990	4,705	8,395
Non-cash interest expense for the sale of future revenue	(2,051)	0	(2,051)	0
Net loss	$ (90,478)	$ (109,871)	$ (130,734)	$ (202,949)
Net loss per share – basic and diluted (in usd per share)	$ (1.31)	$ (1.87)	$ (1.90)	$ (3.46)
Weighted-average number of common shares used in computing net loss per share – basic and diluted (in usd per share)	68,958,091	58,722,244	68,784,109	58,589,167
Product revenue, net
Revenues:
Total revenue	$ 27,581	$ 13,727	$ 50,255	$ 22,865
Collaboration revenue – related party
Revenues:
Total revenue	5,735	8,979	65,832	26,898
Collaboration revenue – other
Revenues:
Total revenue	692	812	1,685	1,782
Royalty revenue – related party
Revenues:
Total revenue	$ 3,339	$ 2,703	$ 6,673	$ 4,903

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (90,478)	$ (109,871)	$ (130,734)	$ (202,949)
Other comprehensive income
Unrealized gain on available-for-sale securities	1,562	974	1,434	2,661
Comprehensive loss	$ (88,916)	$ (108,897)	$ (129,300)	$ (200,288)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive (Loss) Income	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2018		58,218,653
Beginning balance at Dec. 31, 2018	$ 687,537	$ 58	$ 1,794,283	$ (2,171)	$ (1,104,633)
Common stock issued under stock incentive plan and ESPP (in shares)		441,168
Common stock issued under stock incentive plan and ESPP	6,003	$ 1	6,002
Stock-based compensation expense	18,108		18,108
Other comprehensive income (loss)	1,687			1,687
Net loss	(93,078)				(93,078)
Ending balance (in shares) at Mar. 31, 2019		58,659,821
Ending balance at Mar. 31, 2019	620,257	$ 59	1,818,393	(484)	(1,197,711)
Beginning balance (in shares) at Dec. 31, 2018		58,218,653
Beginning balance at Dec. 31, 2018	687,537	$ 58	1,794,283	(2,171)	(1,104,633)
Net loss	(202,949)
Ending balance (in shares) at Jun. 30, 2019		58,749,186
Ending balance at Jun. 30, 2019	532,677	$ 59	1,839,710	490	(1,307,582)
Beginning balance (in shares) at Mar. 31, 2019		58,659,821
Beginning balance at Mar. 31, 2019	620,257	$ 59	1,818,393	(484)	(1,197,711)
Common stock issued under stock incentive plan and ESPP (in shares)		89,365
Common stock issued under stock incentive plan and ESPP	2,770		2,770
Stock-based compensation expense	18,547		18,547
Other comprehensive income (loss)	974			974
Net loss	(109,871)				(109,871)
Ending balance (in shares) at Jun. 30, 2019		58,749,186
Ending balance at Jun. 30, 2019	532,677	$ 59	1,839,710	490	(1,307,582)
Beginning balance (in shares) at Dec. 31, 2019		68,401,105
Beginning balance at Dec. 31, 2019	640,528	$ 68	2,156,363	202	(1,516,105)
Common stock issued under stock incentive plan and ESPP (in shares)		388,820
Common stock issued under stock incentive plan and ESPP	5,465	$ 1	5,464
Stock-based compensation expense	19,690		19,690
Other comprehensive income (loss)	(128)			(128)
Net loss	(40,256)				(40,256)
Ending balance (in shares) at Mar. 31, 2020		68,789,925
Ending balance at Mar. 31, 2020	625,299	$ 69	2,181,517	74	(1,556,361)
Beginning balance (in shares) at Dec. 31, 2019		68,401,105
Beginning balance at Dec. 31, 2019	$ 640,528	$ 68	2,156,363	202	(1,516,105)
Common stock issued under stock incentive plan and ESPP (in shares)	284,814
Net loss	$ (130,734)
Ending balance (in shares) at Jun. 30, 2020		69,058,696
Ending balance at Jun. 30, 2020	558,465	$ 69	2,203,599	1,636	(1,646,839)
Beginning balance (in shares) at Mar. 31, 2020		68,789,925
Beginning balance at Mar. 31, 2020	625,299	$ 69	2,181,517	74	(1,556,361)
Common stock issued under stock incentive plan and ESPP (in shares)		268,771
Common stock issued under stock incentive plan and ESPP	1,652		1,652
Stock-based compensation expense	20,430		20,430
Other comprehensive income (loss)	1,562			1,562
Net loss	(90,478)				(90,478)
Ending balance (in shares) at Jun. 30, 2020		69,058,696
Ending balance at Jun. 30, 2020	$ 558,465	$ 69	$ 2,203,599	$ 1,636	$ (1,646,839)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating activities
Net loss	$ (130,734)	$ (202,949)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	4,906	4,042
Stock-based compensation expense	40,120	36,655
Net accretion of premium and discounts on investments	473	(2,019)
Non-cash operating lease expense	4,435	4,208
Non-cash interest expense for the sale of future revenue	2,051	0
Non-cash royalty revenue	(1,650)	0
Changes in operating assets and liabilities:
Accounts receivable, net	(3,071)	(2,071)
Collaboration receivable – related party	(998)	(62)
Collaboration receivable – other	101	(1,552)
Royalty receivable – related party	1,250	(466)
Inventory	(3,900)	(3,790)
Prepaid expenses and other current and non-current assets	(4,357)	(2,517)
Accounts payable	(7,524)	(1,874)
Accrued expenses	(8,595)	7,071
Deferred revenue – related party	(61,513)	(22,449)
Operating lease liabilities	(4,149)	(3,649)
Net cash used in operating activities	(173,155)	(191,422)
Investing activities
Purchases of marketable securities	(189,601)	(144,231)
Proceeds from maturities and sales of marketable securities	328,883	343,372
Purchases of property and equipment	(8,688)	(3,309)
Net cash provided by investing activities	130,594	195,832
Financing activities
Payments on financing lease obligations	(166)	0
Net proceeds from stock option exercises and employee stock purchase plan	7,117	8,668
Proceeds from the sale of future revenue, net of issuance costs	250,537	0
Net cash provided by financing activities	257,488	8,668
Net change in cash and cash equivalents	214,927	13,078
Cash and cash equivalents at beginning of the period	80,931	70,502
Cash and cash equivalents at end of the period	295,858	83,580
Supplemental disclosure of non-cash investing and financing transactions
Additions to property and equipment in accounts payable and accrued expenses	3,621	535
Proceeds from stock option exercises in other current assets	0	112
Operating lease liabilities arising from obtaining operating lease assets	$ 0	$ 42,856

Overview and Basis of Presentation	6 Months Ended
Overview and Basis of Presentation	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Overview and Basis of Presentation	Overview and Basis of Presentation References to Agios Throughout this Quarterly Report on Form 10-Q, “we,” “us,” and “our,” and similar expressions, except where the context requires otherwise, refer to Agios Pharmaceuticals, Inc. and its consolidated subsidiaries, and “our Board of Directors” refers to the board of directors of Agios Pharmaceuticals, Inc. Overview We are a biopharmaceutical company committed to the fundamental transformation of patients’ lives through scientific leadership in the field of cellular metabolism and adjacent areas of biology, with the goal of creating differentiated, small molecule medicines for patients in the areas of hematologic malignancies, solid tumors and rare genetic diseases, or RGDs. To address these focus areas, we take a systems biology approach to deeply understand disease states, drive the discovery and validation of novel therapeutic targets, and define patient selection strategies, thereby increasing the probability that our experimental medicines will have the desired therapeutic effect. We are located in Cambridge, Massachusetts. Basis of presentation The condensed consolidated balance sheet as of June 30, 2020, the condensed consolidated statements of operations, comprehensive loss and stockholders' equity for the three and six months ended June 30, 2020 and 2019, and the condensed consolidated statements of cash flows for the six months ended June 30, 2020 and 2019 are unaudited. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and, in the opinion of our management, reflect all adjustments, which include only normal recurring adjustments, necessary to fairly state our financial position as of June 30, 2020, our results of operations and stockholders' equity for the three and six months ended June 30, 2020 and 2019, and cash flows for the six months ended June 30, 2020 and 2019. The financial data and the other financial information disclosed in these notes to the condensed consolidated financial statements related to the three and six-month periods are also unaudited. The results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the results to be expected for the year ending December 31, 2020 or for any other future annual or interim period. The condensed consolidated balance sheet data as of December 31, 2019 was derived from our audited financial statements, but does not include all disclosures required by U.S. generally accepted accounting principles, or U.S. GAAP. The condensed consolidated interim financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2019 that was filed with the Securities and Exchange Commission, or the SEC, on February 19, 2020. Our condensed consolidated financial statements include our accounts and the accounts of our wholly owned subsidiaries. All intercompany transactions have been eliminated in consolidation. The condensed consolidated financial statements have been prepared in conformity with U.S. GAAP. Use of estimates The preparation of our condensed consolidated financial statements requires us to make estimates, judgments and assumptions that may affect the reported amounts of assets, liabilities, equity, revenues and expenses and related disclosure of contingent assets and liabilities. On an ongoing basis we evaluate our estimates, judgments and methodologies. We base our estimates on historical experience and on various other assumptions that we believe are reasonable, the results of which form the basis for making judgments about the carrying values of assets, liabilities and equity and the amount of revenues and expenses. The full extent to which the COVID-19 pandemic will directly or indirectly impact our business, results of operations and financial condition, including sales, expenses, reserves and allowances, clinical trials, research and development costs and employee-related amounts, will depend on future developments that are highly uncertain, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain it or treat COVID-19, as well as the economic impact on local, regional, national and international customers and markets. We have made estimates of the impact of COVID-19 within our financial statements and there may be changes to those estimates in future periods. Actual results may differ from these estimates. Liquidity On June 11, 2020, we sold our tiered, sales-based royalty rights on worldwide net sales of IDHIFA® (enasidenib), as well as our rights to receive up to $55.0 million in outstanding regulatory milestone payments from Bristol Myers Squibb, or BMS, to Royalty Pharma, or RPI, for $255.0 million. Under the 2010 Agreement, we remain eligible to receive a $25.0 million potential milestone payment for the enasidenib program upon achievement of a specified ex-U.S. commercial milestone event, as well as reimbursement for costs incurred for our co-commercialization efforts and development activities. As of June 30, 2020, we had cash, cash equivalents and marketable securities of $794.4 million, which included the $255.0 million proceeds from RPI received in the second quarter of 2020. Although we have incurred recurring losses and expect to continue to incur losses for the foreseeable future, we expect our cash, cash equivalents and marketable securities will be sufficient to fund current operations for at least the next twelve months from the issuance date of these financial statements.

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Significant accounting policies In June 2016, the Financial Accounting Standards Board, or FASB issued Accounting Standards Update, or ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), which introduces new guidance for the accounting for credit losses on instruments within its scope. The new guidance introduces an approach based on expected losses to estimate credit losses on certain types of financial instruments. Credit losses relating to available-for-sale debt securities will also be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. The guidance is effective for fiscal years beginning after December 31, 2019, including interim periods within those years. In the quarter ended March 31, 2020, we adopted ASU 2016-13, which eliminated the concept of other-than-temporary impairments and required credit losses on debt securities to be recorded through an allowance for credit losses instead of as a reduction in the amortized cost basis of the securities. Application of the amendments is through a cumulative-effect adjustment to retained earnings as of the effective date. Based upon our analysis, the adoption of this final rule did not have a material impact on the financial statements. Liability related to sale of future revenue We treat the sale of future revenue to RPI as a debt financing, as we have significant continuing involvement in the generation of the cash flows. As result, we recorded the proceeds from this transaction as a liability related to the sale of future revenue to be amortized to interest expense using the effective interest rate method over the life of the arrangement. The liability related to sale of future revenue and the related interest expense are based on our current estimates of future royalties expected to be paid over the life of the arrangement. We will periodically assess the expected royalty payments using a combination of internal projections and forecasts from external sources. To the extent our future estimates of royalty payments are greater or less than previous estimates or the estimated timing of such payments is materially different than its previous estimates, we will prospectively recognize related non-cash interest expense. For further discussion of the sale of future revenue, refer to Note 10, Sale of Future Revenue. Amortization of issuance costs We treated the liability related to sale of future revenue as a debt financing. As such, the long-term liability is initially recorded at its proceeds, net of deferred costs. Issuance costs, fees directly related to the sale of future revenue, are offset against initial carrying value of the long-term liability and are amortized on a straight-line basis over the remaining patent life of the product to an operating expense. There have been no other material changes to the significant accounting policies previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2019. Recent accounting pronouncements Other accounting standards that have been issued by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on our financial statements upon adoption.

Fair Value Measurements

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

We record cash equivalents and marketable securities at fair value. Accounting Standards Codification, or ASC 820, Fair Value Measurements and Disclosures, establishes a fair value hierarchy for those instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and our own assumptions (unobservable inputs). The hierarchy consists of three levels:

Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities.

Level 2 – Quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active, or inputs which are observable, directly or indirectly, for substantially the full term of the asset or liability.

Level 3 – Unobservable inputs that reflect our own assumptions about the assumptions market participants would use in pricing the asset or liability in which there is little, if any, market activity for the asset or liability at the measurement date.

The following table summarizes our cash equivalents and marketable securities measured at fair value on a recurring basis as of June 30, 2020:


(In thousands)	Level 1		Level 2		Level 3		Total
Cash equivalents	$	215,368	$	13,593	$	—	$	228,961
Total cash equivalents	215,368		13,593		—		228,961

Marketable securities:

U.S. Treasuries	—		165,283		—		165,283
Government securities	—		83,653		—		83,653
Corporate debt securities	—		249,619		—		249,619
Total marketable securities	—		498,555		—		498,555
Total cash equivalents and marketable securities	$	215,368	$	512,148	$	—	$	727,516

Cash equivalents and marketable securities have been initially valued at the transaction price and subsequently, at the end of each reporting period, valued utilizing third-party pricing services or other market observable data. The pricing services utilize industry standard valuation models, including both income and market-based approaches, and observable market inputs to determine value. After completing our validation procedures, we did not adjust or override any fair value measurements provided by the pricing services as of June 30, 2020.

There have been no changes to the valuation methods during the six months ended June 30, 2020. We evaluate transfers between levels at the end of each reporting period. We have no financial assets or liabilities that were classified as Level 3 at any point during the six months ended June 30, 2020.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Marketable Securities

6 Months Ended

Jun. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

Our marketable securities are classified as available-for-sale pursuant to ASC 320, Investments – Debt and Equity Securities, and are recorded at fair value. Unrealized gains are included as a component of accumulated other comprehensive income in the condensed consolidated balance sheets and statements of stockholders’ equity and a component of total comprehensive loss in the condensed consolidated statements of comprehensive loss, until realized. Unrealized losses are evaluated for impairment under ASC 326, Financial Instruments - Credit Losses, to determine if the impairment is credit-related or noncredit-related. Credit-related impairment is recognized as an allowance on the balance sheet with a corresponding adjustment to earnings, and noncredit-related impairment is recognized in other comprehensive income, net of taxes. Realized gains and losses are included in investment income on a specific-identification basis. There were no material realized gains or losses on marketable securities for the three and six months ended June 30, 2020 and 2019.

Marketable securities at June 30, 2020 consisted of the following:


(In thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Current:

U.S. Treasuries	$	164,611	$	679	$	(7)	$	165,283
Government securities	81,011		166		(23)		81,154
Corporate debt securities	247,003		861		(31)		247,833
Total Current	492,625		1,706		(61)		494,270

Non-current:


U.S. Treasuries	—		—		—		—
Government securities	2,499		—		—		2,499
Corporate debt securities	1,786		—		—		1,786
Total Non-current	4,285		—		—		4,285
Total marketable securities	$	496,910	$	1,706	$	(61)	$	498,555

Marketable securities at December 31, 2019 consisted of the following:


(In thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Current:
U.S. Treasuries	$	178,721	$	58	$	(38)	$	178,741
Government securities	80,228		17		(16)		80,229
Corporate debt securities	224,928		139		(91)		224,976
Total Current	483,877		214		(145)		483,946

Non-current:

U.S. Treasuries	35,296		3		(13)		35,286
Government securities	17,587		14		(10)		17,591
Corporate debt securities	99,913		239		(100)		100,052
Total Non-current	152,796		256		(123)		152,929
Total marketable securities	$	636,673	$	470	$	(268)	$	636,875

As of June 30, 2020 and December 31, 2019, we held both current and non-current investments. Investments classified as current have maturities of less than one year. Investments classified as non-current are those that: (i) have a maturity of greater than one year, and (ii) we do not intend to liquidate within the next twelve months, although these funds are available for use and, therefore, are classified as available-for-sale.

As of June 30, 2020 and December 31, 2019, we held 28 and 113 debt securities, respectively, that were in an unrealized loss position for less than one year. We did not record an allowance for credit losses as of June 30, 2020 and December 31, 2019 related to these securities. The aggregate fair value of debt securities in an unrealized loss position at June 30, 2020 and December 31, 2019 was $129.7 million and $345.7 million, respectively. There were no individual securities that were in a significant unrealized loss position as of June 30, 2020 and December 31, 2019. Given our intent and ability to hold such securities until recovery, and the lack of significant change in the credit risk of these investments, we do not consider these marketable securities to be impaired as of June 30, 2020 and December 31, 2019.

Inventory

6 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

Inventory

Inventory, which consists of commercial supply of TIBSOVO®, consists of the following:


(In thousands)	June 30, 2020		December 31, 2019
Raw materials	$	1,329	$	180
Work-in-process	8,679		6,808
Finished goods	1,223		343
Total inventory	$	11,231	$	7,331

Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

Our building leases are comprised of office and laboratory space under non-cancelable operating leases. These lease agreements have remaining lease terms of eight years and contain various clauses for renewal at our option. The renewal options were not included in the calculation of the operating lease assets and the operating lease liabilities as the renewal option is not reasonably certain of being exercised. The lease agreements do not contain residual value guarantees. Operating lease costs for the three and six months ended June 30, 2020 were $3.8 million and $7.6 million, respectively, and cash paid for amounts included in the measurement of operating lease liabilities for the three and six months ended June 30, 2020 were $3.5 million and $7.4 million, respectively. Operating lease costs for the three and six months ended June 30, 2019 were $3.8 million and $6.8 million, respectively, and cash paid for amounts included in the measurement of operating lease liabilities for the three and six months ended June 30, 2019 were $3.2 million and $6.3 million, respectively.

We have not entered into any material short-term leases or financing leases as of June 30, 2020.

As of June 30, 2020, undiscounted minimum rental commitments under non-cancelable leases, for each of the next five years and total thereafter were as follows:


(In thousands)
Remaining 2020	$	5,886
2021	14,380
2022	16,773
2023	18,126
2024	18,660
2025	19,507
Thereafter	44,385
Undiscounted minimum rental commitments	$	137,717
Interest	(29,171)
Operating lease liabilities	$	108,546

In arriving at the operating lease liabilities as of June 30, 2020 and December 31, 2019, we applied the weighted-average incremental borrowing rate of 5.7% for both periods over a weighted-average remaining lease term of 7.7 years and 8.2 years, respectively.

Accrued Expenses

6 Months Ended

Jun. 30, 2020

Payables and Accruals [Abstract]

Accrued Expenses

Accrued expenses consist of the following:


(In thousands)	June 30, 2020		December 31, 2019
Accrued compensation	$	12,897	$	18,982
Accrued research and development costs	18,697		21,777
Accrued professional fees	4,393		8,335
Accrued other	5,924		4,048
Total accrued expenses	$	41,911	$	53,142

Product Revenue

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Product Revenue

We sell TIBSOVO®, our wholly owned product, to a limited number of specialty distributors and specialty pharmacy providers, or collectively, the Customers. The Customers subsequently resell TIBSOVO® to pharmacies or dispense directly to patients. In addition to distribution agreements with Customers, we enter into arrangements with healthcare providers and payors that provide for government-mandated and/or privately-negotiated rebates, chargebacks and discounts with respect to the purchase of TIBSOVO®.

The performance obligation related to the sale of TIBSOVO® is satisfied and revenue is recognized when the Customer obtains control of the product, which occurs at a point in time, typically upon delivery to the Customer.


	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2020		2019		2020		2019
Product revenue, net	$	27,581	$	13,727	$	50,255	$	22,865

Reserves for Variable Consideration

Revenues from product sales are recorded at the net sales price, or transaction price, which includes estimates of variable consideration for which reserves are established and result from contractual adjustments, government rebates, returns and other allowances that are offered within the contracts with our Customers, healthcare providers, payors and other indirect customers relating to the sale of our products.

Contractual Adjustments

We generally provide Customers with discounts, including prompt pay discounts, and allowances that are explicitly stated in the contracts and are recorded as a reduction of revenue in the period the related product revenue is recognized. In addition, we receive sales order management, data and distribution services from certain Customers.

Chargebacks for fees and discounts represent the estimated obligations resulting from contractual commitments to sell products to qualified healthcare providers at prices lower than the list prices charged to Customers who directly purchase the product from us. Customers charge us for the difference between what they pay for the product and the ultimate selling price to the qualified healthcare providers. These reserves are estimated using the expected value method, based upon a range of possible outcomes that are probability-weighted for the estimated channel mix and are established in the same period that the related revenue is recognized, resulting in a reduction of product revenue.

Government Rebates

Government rebates consist of Medicare, TriCare, and Medicaid rebates, which we estimate using the expected value method, based upon a range of possible outcomes that are probability-weighted for the estimated payor mix. These reserves are recorded in the same period the related revenue is recognized, resulting in a reduction of product revenue. For Medicare, we also estimate the number of patients in the prescription drug coverage gap for whom we will owe an additional liability under the Medicare Part D program.

Returns

We estimate the amount of product sales that may be returned by Customers and record this estimate as a reduction of revenue in the period the related product revenue is recognized. We currently estimate product return liabilities using the expected value method, based on available industry data, including our visibility into the inventory remaining in the distribution channel.

The following table summarizes balances and activity in each of the product revenue allowance and reserve categories for the six months ended June 30, 2020:


(In thousands)	Contractual Adjustments		Government Rebates		Returns		Total
Balance at December 31, 2019	$	874	$	1,124	$	1,798	$	3,796
Current provisions relating to sales in the current year	6,522		4,266		726		11,514
Adjustments relating to prior years	(3)		22		(476)		(457)
Payments/returns relating to sales in the current year	(5,522)		(1,422)		—		(6,944)
Payments/returns relating to sales in the prior years	(653)		(677)		—		(1,330)
Balance at June 30, 2020	$	1,218	$	3,313	$	2,048	$	6,579

Total revenue-related reserves above, included in our condensed consolidated balance sheets, are summarized as follows:


(In thousands)	June 30, 2020		December 31, 2019
Reduction of accounts receivable	$	694	$	540
Component of accrued expenses	5,885		3,256
Total revenue-related reserves	$	6,579	$	3,796

The following table presents changes in our contract assets during the six months ended June 30, 2020:


(In thousands)	December 31, 2019		Additions		Deductions		June 30, 2020
Contract assets⁽¹⁾
Accounts receivable, net	$	8,952	$	61,312	$	(58,241)	$	12,023

(1) Additions to contract assets relate to amounts billed to Customers for product sales and deductions to contract assets primarily relate to collection of receivables during the reporting period.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Collaboration and License Agreements

6 Months Ended

Jun. 30, 2020

Revenue Recognition and Deferred Revenue [Abstract]

Collaboration and License Agreements

Accounting analysis and revenue recognition

Our collaboration and license agreements typically involve us granting licenses of our intellectual property and performing research and development services in exchange of upfront fees, milestone payments and royalty payments. Since December 31,

2019, there have been no material changes to the key terms of our collaboration or license agreements. For further information on the terms and conditions of our existing collaboration and license agreements, please see the notes to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2019.

Collaboration revenue

We recognize revenue when the customer obtains control of promised goods or services, in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. In determining the appropriate amount of revenue to be recognized, we performed the following steps: (i) identified the promised goods or services in the contract; (ii) determined whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; (iii) measured the transaction price, including the constraint on variable consideration; (iv) allocated the transaction price to the performance obligations; and (v) recognized revenue when (or as) we satisfied each performance obligation.

Royalty revenue

For arrangements that include sales-based royalties and sales-based milestones and in which the license is deemed to be the predominant item to which the royalties relate, we recognize royalty revenue upon the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied).

Milestone revenue

At each reporting period we evaluate whether milestones are considered probable of being reached and, to the extent that a significant reversal would not occur in future periods, estimate the amount to be included in the transaction price using the most likely amount method. Milestone payments that are not within our control, such as regulatory approvals, are considered constrained and are excluded from the transaction price until those approvals are received.

Celgene Corporation

We have entered into the following collaboration agreements, or collectively, the Collaboration Agreements, with Celgene, a wholly-owned subsidiary of BMS, which is a related party through ownership of our common stock:

•In April 2010, we entered into a discovery and development collaboration and license agreement focused on cancer metabolism, or the 2010 Agreement, which was amended in October 2011 and July 2014. The discovery phase of the 2010 Agreement expired in April 2016. On August 15, 2016, we terminated the 2010 Agreement as to the program directed to the isocitrate dehydrogenase 1, or IDH1, target, for which ivosidenib was the lead development candidate. Accordingly, the sole program remaining under the 2010 Agreement is IDHIFA® (enasidenib), a co-commercialized licensed program for which Celgene leads and funds global development and commercialization activities. On June 11, 2020, we sold our tiered, sales-based royalty rights on worldwide net sales of IDHIFA® (enasidenib), as well as our rights to receive up to $55.0 million in outstanding regulatory milestone payments from BMS, to RPI for $255.0 million. Under the 2010 Agreement, we remain eligible to receive a $25.0 million potential milestone payment for the enasidenib program upon achievement of a specified ex-U.S. commercial milestone event, as well as reimbursement for costs incurred for our co-commercialization efforts and development activities.

•In April 2015, we entered into a joint worldwide development and profit share collaboration and license agreement with Celgene, and our wholly owned subsidiary, Agios International Sarl, entered into a collaboration and license agreement with Celgene International II Sarl, or collectively, the AG-881 Agreements, to establish a worldwide collaboration focused on the development and commercialization of vorasidenib products. Under the AG-881 Agreements, we and Celgene split all worldwide development costs for vorasidenib, subject to specified exceptions. The AG-881 Agreements were terminated effective September 4, 2018, upon which we received sole global rights to vorasidenib. In connection with the termination of the AG-881 Agreements, Celgene will be eligible to receive royalties from us at a low single-digit percentage rate on worldwide net sales of products containing vorasidenib.

•In May 2016, we entered into a master research and collaboration agreement with Celgene, or the 2016 Agreement, focused on metabolic immuno-oncology, or MIO, a developing field which aims to modulate the activity of relevant immune cells by targeting critical metabolic nodes, thereby enhancing the immune mediated anti-tumor response. The initial four-year research term of the 2016 Agreement ended May 2020. On March 25, 2020 Celgene declined the option to extend the research agreement for up to two, or in specified cases, up to four additional one-year terms which would have required the payment of a $40.0 million extension fee. Further, on April 10, 2020 Celgene notified us that they will be declining to elect any program as a continuation program under the 2016 agreement. Celgene had designated AG-270, our inhibitor of methionine adenosyltransferase 2a, or MAT2A, as a development candidate under the 2016 Agreement. On March 25, 2020, Celgene notified us of their decision to decline their option to enter into a Development & Commercialization Agreement with respect to the MAT2A program under the 2016 Agreement which

would have required the payment of a $30.0 million fee. As a result of the decisions, the research services were fully satisfied as of May 17, 2020, no additional performance obligations remain under the 2016 Agreement and we are no longer eligible for any milestone payments for the 2016 agreement.

Collaboration revenue

During the three and six months ended June 30, 2020 and 2019, we recognized the following collaboration revenue:


	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2020		2019		2020		2019
Services performed that were considered performance obligations as of the modification dates

On-going research and development services	$	4,714	$	8,155	$	63,934	$	25,220

Services performed that were not considered performance obligations as of the modification dates

Commercialization activities	1,021		824		1,898		1,678
Total collaboration revenue - related party	$	5,735	$	8,979	$	65,832	$	26,898

The following table presents changes in our contract assets and liabilities during the six months ended June 30, 2020:


(In thousands)	December 31, 2019		Additions		Deductions		June 30, 2020
Contract assets
Collaboration receivable – related party ⁽¹⁾	$	1,539	$	2,876	$	(3,284)	$	1,131
Unbilled receivable - related party ⁽²⁾	—		1,406		—		1,406
Royalty receivable – related party ⁽³⁾	2,900		5,023		(6,273)		1,650
Contract liabilities
Deferred revenue – related party, current and net of current portions ⁽⁴⁾	61,513		2,421		(63,934)		—

(1) Additions to collaboration receivables - related party relate to amounts billed to Celgene for reimbursable costs incurred by us during the reporting period. Deductions to receivables relate to collection of receivables during the reporting period.

(2) Unbilled receivables - related party amounts relate to future reimbursable costs to Celgene.

(3) Additions to royalty receivables - related party relate to amounts billed to Celgene during the reporting period. Deductions to receivables relate to collection of receivables during the reporting period.

(4) Additions to deferred revenue - related party relate to consideration from Celgene during the reporting period. Deductions relate to deferred revenue recognized as revenue during the reporting period.

The change in collaboration revenue from on-going research and development services during the three and six months ended June 30, 2020 is primarily due to our updated estimate of the future costs that would be incurred from on-going research and development services to complete one of our performance obligations under the 2016 collaboration agreement that is recognized over time using an input method, due to Celgene’s decision to decline extending the research term in Q1 2020.

During the three and six months ended June 30, 2020 and 2019, we recognized the following as revenue due to changes in the contract liability balances:


	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2020		2019		2020		2019
Amounts included in the contract liability at the beginning of the period	$	4,748	$	8,009	$	61,513	$	24,419
Performance obligations satisfied in previous periods	—		—		—		—

As of June 30, 2020, the aggregate amount of the transaction price allocated to performance obligations that are partially unsatisfied was $5.2 million. This amount is expected to be recognized as performance obligations are satisfied through September 2023.

Royalty revenue

As the underlying performance obligation, or delivery of the enasidenib license, had been satisfied as of June 2014, royalty revenue is recognized as the related sales occur. During the three and six months ended June 30, 2020 and 2019, we recognized the following as royalty revenue:


	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2020		2019		2020		2019
Royalty revenue – related party	$	3,339	$	2,703	$	6,673	$	4,903

Milestone revenue

No milestones were achieved during the three and six months ended June 30, 2020 or 2019. The next potential milestone expected to be achieved under the remaining terms of our Collaboration Agreements is the achievement of a specified ex-U.S. commercial milestone event, which would result in a milestone payment of $25.0 million under the 2010 Agreement.

CStone Pharmaceuticals

In June 2018, we and CStone Pharmaceuticals, or CStone, entered into an exclusive license agreement, or the CStone Agreement, to grant CStone specified intellectual property licenses to enable CStone to develop and commercialize certain products containing ivosidenib in mainland China, Hong Kong, Macau and Taiwan, or the CStone Territory. We retain development and commercialization rights for the rest of the world. On March 2, 2020, we amended the CStone Agreement to include Singapore as part of the CStone Territory. Pursuant to the CStone Agreement, CStone will initially be responsible for the development and commercialization of ivosidenib in acute myeloid leukemia, or AML, cholangiocarcinoma, and, at our discretion, brain cancer indications. CStone is responsible for all costs it incurs in developing, obtaining regulatory approval of, and commercializing ivosidenib in the CStone Territory, as well as certain costs incurred by us. Pursuant to the CStone Agreement, we received an initial upfront payment in the amount of $12.0 million and are entitled to receive up to an additional $407.0 million in milestone payments upon the achievement of certain development, regulatory and sales milestone events. We will also be entitled to receive tiered royalties, ranging from 15% to 19% percent, on annual net sales, if any, of ivosidenib in the CStone Territory.

Collaboration revenue

During the three and six months ended June 30, 2020 and 2019, we recognized the following collaboration revenue -other:


	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2020		2019		2020		2019
Services performed that were considered performance obligations as of the inception date
License and other services	$	—	$	—	$	192	$	—
Services performed that were not considered performance obligations as of the inception date
Other services	692		812		1,493		1,782

Total collaboration revenue - other	$	692	$	812	$	1,685	$	1,782

The following table presents changes in our contract assets during the six months ended June 30, 2020:


(In thousands)	December 31, 2019		Additions		Deductions		June 30, 2020
Contract assets (1)
Collaboration receivable - other	$	1,928	$	1,685	$	(1,786)	$	1,827

(1) Additions to contract assets relate to amounts receivable from CStone. Deductions to contract assets relate to collection of receivables during the reporting period.

As of June 30, 2020, the aggregate amount of the transaction price allocated to performance obligations that are partially unsatisfied was $0.5 million.

Royalty revenue

The license was determined to be the predominant item to which sales-based royalties and sales-based milestones relate. As the license was delivered in June 2018, we will recognize royalty revenue when the related sales occur. To date, no royalties have been received under the CStone Agreement.

Milestone revenue

No milestones were earned during the three and six months ended June 30, 2020 and 2019. The next potential milestone expected to be achieved under the CStone Agreement is the dosing of the first patient in a local study in a solid tumor indication in mainland China. Achievement of this event will result in a milestone payment of $5.0 million.

Sale of Future Revenue

6 Months Ended

Jun. 30, 2020

Sale of Future Revenue, Royalty Obligation [Abstract]

Sale of Future Revenue

On June 11, 2020, we sold our tiered, sales-based royalty rights on worldwide net sales of IDHIFA® (enasidenib), as well as our rights to receive up to $55.0 million in outstanding regulatory milestone payments from BMS, to RPI for $255.0 million. The gross proceeds of $255.0 million approximate the fair value of the liability related to the sale of future revenue based on a discounted cash flow model. The fair value for the liability related to the sale of future revenue at the time of the transaction was based on our current estimates of future royalties expected to be paid to RPI over the remaining patent life of the product, which are considered level 3 inputs.

Under the terms of the Purchase Agreement, although we sold all of our rights to receive royalties on worldwide net sales of IDHIFA® and future regulatory milestone payments, we continue to co-promote IDHIFA® and are therefore involved in the generation of these royalties. Due to our continuing involvement, we will continue to account for any royalties earned as revenue. We recorded the net proceeds from this transaction as a liability related to sale of future revenue, or Royalty Obligation, that will be amortized using the effective interest method over the remaining patent life.

As royalties are remitted to RPI from BMS, the balance of the Royalty Obligation will be effectively repaid over the life of the BMS License Agreement. In order to determine the amortization of the Royalty Obligation, we are required to estimate the total amount of future royalty payments to RPI over the life of the BMS License Agreement. The $255.0 million recorded will be accreted to the total of these royalty payments as interest expense over the life of the Royalty Obligation. At execution, our estimate of this total interest expense resulted in an effective annual interest rate of approximately 16.4%. This estimate contains significant assumptions that impact both the amount recorded at execution and the interest expense that will be recognized over the royalty period. We will periodically assess the estimated royalty payments to RPI from BMS and to the extent the amount or timing of such payments is materially different than the original estimates, an adjustment will be recorded prospectively to increase or decrease interest expense. There are a number of factors that could materially affect the amount and timing of royalty payments to RPI from BMS, and correspondingly, the amount of interest expense recorded by us, most of which are not within our control. Such factors include, but are not limited to, delays or discontinuation of development of enasidenib, regulatory approval, changing standards of care, the introduction of competing products, manufacturing or other delays, generic competition, intellectual property matters, adverse events that result in governmental health authority imposed restrictions on the use of the drug products, significant changes in foreign exchange rates as the royalties remitted to RPI are made in U.S. dollars (USD) while the underlying sales of enasidenib will be made in currencies other than USD, and other events or circumstances that are not currently foreseen. Changes to any of these factors could result in increases or decreases to both royalty revenues and interest expense.

The following table shows the activity of the Royalty Obligation since the transaction inception through June 30, 2020:


(in thousands)	June 30, 2020
Proceeds from the sale of future revenue	$	255,000
Issuance costs	(4,463)
Non-cash royalty revenue	(1,650)
Non-cash interest expense associated with the sale of future revenue	2,051
Amortization of issuance costs	20
Liability related to the sale of future royalties	$	250,958

During the three and six months ended June 30, 2020, $3.3 million and $6.7 million of royalty revenue from net sales of IDHIFA® were recognized, respectively, of which $1.65 million is non-cash royalty revenue.

Share-Based Payments

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Share-Based Payments

2013 Stock Incentive Plan

In June 2013, our Board of Directors adopted and, in July 2013 our stockholders approved, the 2013 Stock Incentive Plan, or the 2013 Plan. The 2013 Plan became effective upon the closing of our initial public offering and provides for the grant of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock awards, restricted stock units, or RSUs, performance-based stock units, or PSUs, and other stock-based awards to employees, non-employees and non-employee directors. Following the adoption of the 2013 Plan, we granted no further stock options or other awards under the 2007 Stock Incentive Plan, or the 2007 Plan. Any options or awards outstanding under the 2007 Plan at the time of adoption of the 2013 Plan remain outstanding and effective. As of June 30, 2020, the total number of shares reserved under the 2007 Plan and the 2013 Plan was 10,749,789, and we had 2,688,890 shares available for future issuance under the 2013 Plan.

Stock options

The following table presents stock option activity for the six months ended June 30, 2020:


	Number of Stock Options	Weighted-Average Exercise Price
Outstanding at December 31, 2019	6,201,485	$	58.61
Granted	922,820	50.09
Exercised	(284,814)	18.65
Forfeited/Expired	(241,540)	70.26
Outstanding at June 30, 2020	6,597,951	$	58.72
Exercisable at June 30, 2020	3,927,185	$	61.05
Vested and expected to vest at June 30, 2020	6,597,951	$	58.72

At June 30, 2020, there was approximately $94.2 million of total unrecognized compensation expense related to unvested stock option awards, which we expect to recognize over a weighted-average period of approximately 2.5 years.

Restricted stock units

The following table presents RSU activity for the six months ended June 30, 2020:


	Number of Stock Units	Weighted-Average Grant Date Fair Value
Unvested shares at December 31, 2019	766,953	$	63.44
Granted	790,376	50.79
Vested	(243,231)	69.93
Forfeited	(53,690)	61.18
Unvested shares at June 30, 2020	1,260,408	$	54.35

As of June 30, 2020, there was approximately $51.1 million of total unrecognized compensation expense related to RSUs, which we expect to recognize over a weighted-average period of approximately 2.1 years.

Performance-based stock units

The following table presents PSU activity for the six months ended June 30, 2020:


	Number of Stock Units	Weighted-Average Grant Date Fair Value
Unvested shares at December 31, 2019	218,143	$	55.64
Granted	20,622	48.49
Vested	(78,920)	54.82

Unvested shares at June 30, 2020	159,845	$	55.13

Stock-based compensation expense associated with these PSUs is recognized if the underlying performance condition is considered probable of achievement using our management’s best estimates.

As of June 30, 2020, there was no unrecognized compensation expense related to PSUs with performance-based vesting criteria that are considered probable of achievement, and $6.9 million of total unrecognized compensation expense related to PSUs with performance-based vesting criteria that are considered not probable of achievement.

Market-based stock units

The following table presents market-based stock unit, or MSU, activity for the six months ended June 30, 2020:


	Number of Stock Units	Weighted-Average Grant Date Fair Value
Unvested shares at December 31, 2019	42,695	$	41.50
Granted	—	—


Unvested shares at June 30, 2020	42,695	$	41.50

The fair value of MSUs are estimated using a Monte Carlo simulation model. Assumptions and estimates utilized in the model include the risk-free interest rate, dividend yield, expected stock volatility and the estimated period to achievement of the market condition. As of June 30, 2020, there was approximately $0.2 million of total unrecognized compensation expense related to MSUs, which we expect to recognize over the remaining derived service period of 0.2 years.

2013 Employee Stock Purchase Plan

In June 2013, our Board of Directors adopted, and in July 2013 our stockholders approved, the 2013 Employee Stock Purchase Plan, or the 2013 ESPP. We issued and sold 62,694 and 32,410 shares of common stock during the six months ended June 30, 2020 and 2019, respectively, under the 2013 ESPP. The 2013 ESPP provides participating employees with the opportunity to purchase up to an aggregate of 836,363 shares of our common stock. As of June 30, 2020, we had 528,952 shares of common stock available for future issuance under the 2013 ESPP.

Stock-based compensation expense

Stock-based compensation expense by award type included within the condensed consolidated statements of operations is as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2020		2019		2020		2019
Stock options	$	11,503	$	12,467	$	23,106	$	25,513
Restricted stock units	7,780		5,243		13,912		9,791
Performance-based stock units	478		—		1,866		186
Employee stock purchase plan	399		392		696		720
Other stock awards	270		445		540		445
Total stock-based compensation expense	$	20,430	$	18,547	$	40,120	$	36,655

Expenses related to stock options and stock-based awards were allocated as follows in the condensed consolidated statements of operations:


	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2020		2019		2020		2019
Research and development expense	$	10,158	$	10,067	$	19,722	$	20,109
Selling, general and administrative expense	10,272		8,480		20,398		16,546
Total stock-based compensation expense	$	20,430	$	18,547	$	40,120	$	36,655

Loss per Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Loss per Share

Loss per ShareBasic net loss per share is calculated by dividing net loss by the weighted-average shares outstanding during the period, without consideration for common stock equivalents. Diluted net loss per share is calculated by adjusting the weighted average shares outstanding for the dilutive effect of common stock equivalents outstanding for the period, determined using the treasury stock method. For purposes of the dilutive net loss per share calculation, stock options, RSUs, PSUs and MSUs for which the performance and market vesting conditions, respectively, have been deemed probable, and 2013 ESPP shares are considered to

be common stock equivalents, while PSUs and MSUs with performance and market vesting conditions, respectively, that were not deemed probable as of June 30, 2020 are not considered to be common stock equivalents.

Since we had a net loss for all periods presented, the effect of all potentially dilutive securities is anti-dilutive. Accordingly, basic and diluted net loss per share was the same for all periods presented.

The following common stock equivalents were excluded from the calculation of diluted net loss per share applicable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect:


	Three and Six Months Ended June 30,
	2020	2019
Stock options	6,597,951	6,343,294
Restricted stock units	1,260,408	737,510
Performance-based stock units	—	—
Employee stock purchase plan shares	39,997	33,064
Total common stock equivalents	7,898,356	7,113,868

Organization, Consolidation and Presentation of Financial Statements (Policies)	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of presentation The condensed consolidated balance sheet as of June 30, 2020, the condensed consolidated statements of operations, comprehensive loss and stockholders' equity for the three and six months ended June 30, 2020 and 2019, and the condensed consolidated statements of cash flows for the six months ended June 30, 2020 and 2019 are unaudited. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and, in the opinion of our management, reflect all adjustments, which include only normal recurring adjustments, necessary to fairly state our financial position as of June 30, 2020, our results of operations and stockholders' equity for the three and six months ended June 30, 2020 and 2019, and cash flows for the six months ended June 30, 2020 and 2019. The financial data and the other financial information disclosed in these notes to the condensed consolidated financial statements related to the three and six-month periods are also unaudited. The results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the results to be expected for the year ending December 31, 2020 or for any other future annual or interim period. The condensed consolidated balance sheet data as of December 31, 2019 was derived from our audited financial statements, but does not include all disclosures required by U.S. generally accepted accounting principles, or U.S. GAAP. The condensed consolidated interim financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2019 that was filed with the Securities and Exchange Commission, or the SEC, on February 19, 2020. Our condensed consolidated financial statements include our accounts and the accounts of our wholly owned subsidiaries. All intercompany transactions have been eliminated in consolidation. The condensed consolidated financial statements have been prepared in conformity with U.S. GAAP.
Use of Estimates	Use of estimates The preparation of our condensed consolidated financial statements requires us to make estimates, judgments and assumptions that may affect the reported amounts of assets, liabilities, equity, revenues and expenses and related disclosure of contingent assets and liabilities. On an ongoing basis we evaluate our estimates, judgments and methodologies. We base our estimates on historical experience and on various other assumptions that we believe are reasonable, the results of which form the basis for making judgments about the carrying values of assets, liabilities and equity and the amount of revenues and expenses. The full extent to which the COVID-19 pandemic will directly or indirectly impact our business, results of operations and financial condition, including sales, expenses, reserves and allowances, clinical trials, research and development costs and employee-related amounts, will depend on future developments that are highly uncertain, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain it or treat COVID-19, as well as the economic impact on local, regional, national and international customers and markets. We have made estimates of the impact of COVID-19 within our financial statements and there may be changes to those estimates in future periods. Actual results may differ from these estimates.

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Basis of Presentation

Basis of presentation

The condensed consolidated balance sheet as of June 30, 2020, the condensed consolidated statements of operations, comprehensive loss and stockholders' equity for the three and six months ended June 30, 2020 and 2019, and the condensed consolidated statements of cash flows for the six months ended June 30, 2020 and 2019 are unaudited. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and, in the opinion of our management, reflect all adjustments, which include only normal recurring adjustments, necessary to fairly state our financial position as of June 30, 2020, our results of operations and stockholders' equity for the three and six months ended June 30, 2020 and 2019, and cash flows for the six months ended June 30, 2020 and 2019. The financial data and the other financial information disclosed in these notes to the condensed consolidated financial statements related to the three and six-month periods are also unaudited. The results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the results to be expected for the year ending December 31, 2020 or for any other future annual or interim period. The condensed consolidated balance sheet data as of December 31, 2019 was derived from our audited financial statements, but does not include all disclosures required by U.S. generally accepted accounting principles, or U.S. GAAP. The condensed consolidated interim financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2019 that was filed with the Securities and Exchange Commission, or the SEC, on February 19, 2020.

Our condensed consolidated financial statements include our accounts and the accounts of our wholly owned subsidiaries. All intercompany transactions have been eliminated in consolidation. The condensed consolidated financial statements have been prepared in conformity with U.S. GAAP.

Significant and Recent Accounting Pronouncements

Significant accounting policies

In June 2016, the Financial Accounting Standards Board, or FASB issued Accounting Standards Update, or ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), which introduces new guidance for the accounting for credit losses on instruments within its scope. The new guidance introduces an approach based on expected losses to estimate credit losses on certain types of financial instruments. Credit losses relating to available-for-sale debt securities will also be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. The guidance is effective for fiscal years beginning after December 31, 2019, including interim periods within those years.

In the quarter ended March 31, 2020, we adopted ASU 2016-13, which eliminated the concept of other-than-temporary impairments and required credit losses on debt securities to be recorded through an allowance for credit losses instead of as a reduction in the amortized cost basis of the securities. Application of the amendments is through a cumulative-effect adjustment to retained earnings as of the effective date. Based upon our analysis, the adoption of this final rule did not have a material impact on the financial statements.

Liability related to sale of future revenue

We treat the sale of future revenue to RPI as a debt financing, as we have significant continuing involvement in the generation of the cash flows. As result, we recorded the proceeds from this transaction as a liability related to the sale of future revenue to be amortized to interest expense using the effective interest rate method over the life of the arrangement.

The liability related to sale of future revenue and the related interest expense are based on our current estimates of future royalties expected to be paid over the life of the arrangement. We will periodically assess the expected royalty payments using a combination of internal projections and forecasts from external sources. To the extent our future estimates of royalty payments are greater or less than previous estimates or the estimated timing of such payments is materially different than its previous estimates, we will prospectively recognize related non-cash interest expense.

For further discussion of the sale of future revenue, refer to Note 10, Sale of Future Revenue.

Amortization of issuance costs

We treated the liability related to sale of future revenue as a debt financing. As such, the long-term liability is initially recorded at its proceeds, net of deferred costs. Issuance costs, fees directly related to the sale of future revenue, are offset against initial carrying value of the long-term liability and are amortized on a straight-line basis over the remaining patent life of the product to an operating expense.

There have been no other material changes to the significant accounting policies previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2019.

Recent accounting pronouncements

Other accounting standards that have been issued by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on our financial statements upon adoption.

Fair Value Measurements

Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities.

Marketable Securities

Product Revenue


	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2020		2019		2020		2019
Product revenue, net	$	27,581	$	13,727	$	50,255	$	22,865

Reserves for Variable Consideration

Contractual Adjustments

Government Rebates

Returns

Loss per Share

June 30, 2020 are not considered to be common stock equivalents.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130566-203045

+ Details

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Cash Equivalents and Marketable Securities Measured at Fair Value on a Recurring Basis

The following table summarizes our cash equivalents and marketable securities measured at fair value on a recurring basis as of June 30, 2020:


(In thousands)	Level 1		Level 2		Level 3		Total
Cash equivalents	$	215,368	$	13,593	$	—	$	228,961
Total cash equivalents	215,368		13,593		—		228,961

Marketable securities:

U.S. Treasuries	—		165,283		—		165,283
Government securities	—		83,653		—		83,653
Corporate debt securities	—		249,619		—		249,619
Total marketable securities	—		498,555		—		498,555
Total cash equivalents and marketable securities	$	215,368	$	512,148	$	—	$	727,516

Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Schedule of Marketable Securities

Marketable securities at June 30, 2020 consisted of the following:


(In thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Current:

U.S. Treasuries	$	164,611	$	679	$	(7)	$	165,283
Government securities	81,011		166		(23)		81,154
Corporate debt securities	247,003		861		(31)		247,833
Total Current	492,625		1,706		(61)		494,270

Non-current:


U.S. Treasuries	—		—		—		—
Government securities	2,499		—		—		2,499
Corporate debt securities	1,786		—		—		1,786
Total Non-current	4,285		—		—		4,285
Total marketable securities	$	496,910	$	1,706	$	(61)	$	498,555

Marketable securities at December 31, 2019 consisted of the following:


(In thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Current:
U.S. Treasuries	$	178,721	$	58	$	(38)	$	178,741
Government securities	80,228		17		(16)		80,229
Corporate debt securities	224,928		139		(91)		224,976
Total Current	483,877		214		(145)		483,946

Non-current:

U.S. Treasuries	35,296		3		(13)		35,286
Government securities	17,587		14		(10)		17,591
Corporate debt securities	99,913		239		(100)		100,052
Total Non-current	152,796		256		(123)		152,929
Total marketable securities	$	636,673	$	470	$	(268)	$	636,875

Inventory (Tables)

6 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

Schedule of Inventory

Inventory, which consists of commercial supply of TIBSOVO®, consists of the following:


(In thousands)	June 30, 2020		December 31, 2019
Raw materials	$	1,329	$	180
Work-in-process	8,679		6,808
Finished goods	1,223		343
Total inventory	$	11,231	$	7,331

Leases (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Schedule of Undiscounted Minimum Rental Commitments Under Uncancelable Leases

As of June 30, 2020, undiscounted minimum rental commitments under non-cancelable leases, for each of the next five years and total thereafter were as follows:


(In thousands)
Remaining 2020	$	5,886
2021	14,380
2022	16,773
2023	18,126
2024	18,660
2025	19,507
Thereafter	44,385
Undiscounted minimum rental commitments	$	137,717
Interest	(29,171)
Operating lease liabilities	$	108,546

Accrued Expenses (Tables)

6 Months Ended

Jun. 30, 2020

Payables and Accruals [Abstract]

Schedule of Accrued Expenses

Accrued expenses consist of the following:


(In thousands)	June 30, 2020		December 31, 2019
Accrued compensation	$	12,897	$	18,982
Accrued research and development costs	18,697		21,777
Accrued professional fees	4,393		8,335
Accrued other	5,924		4,048
Total accrued expenses	$	41,911	$	53,142

Product Revenue (Tables)

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Product Revenue


	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2020		2019		2020		2019
Product revenue, net	$	27,581	$	13,727	$	50,255	$	22,865

Schedule of Product Revenue Allowance and Reserves

The following table summarizes balances and activity in each of the product revenue allowance and reserve categories for the six months ended June 30, 2020:


(In thousands)	Contractual Adjustments		Government Rebates		Returns		Total
Balance at December 31, 2019	$	874	$	1,124	$	1,798	$	3,796
Current provisions relating to sales in the current year	6,522		4,266		726		11,514
Adjustments relating to prior years	(3)		22		(476)		(457)
Payments/returns relating to sales in the current year	(5,522)		(1,422)		—		(6,944)
Payments/returns relating to sales in the prior years	(653)		(677)		—		(1,330)
Balance at June 30, 2020	$	1,218	$	3,313	$	2,048	$	6,579

Schedule of Revenue Related Reserves

Total revenue-related reserves above, included in our condensed consolidated balance sheets, are summarized as follows:


(In thousands)	June 30, 2020		December 31, 2019
Reduction of accounts receivable	$	694	$	540
Component of accrued expenses	5,885		3,256
Total revenue-related reserves	$	6,579	$	3,796

Schedule of Changes in Contract Assets and Liabilities, Product Revenue

The following table presents changes in our contract assets during the six months ended June 30, 2020:


(In thousands)	December 31, 2019		Additions		Deductions		June 30, 2020
Contract assets⁽¹⁾
Accounts receivable, net	$	8,952	$	61,312	$	(58,241)	$	12,023

(1) Additions to contract assets relate to amounts billed to Customers for product sales and deductions to contract assets primarily relate to collection of receivables during the reporting period.

Collaboration and License Agreements (Tables)

6 Months Ended

Jun. 30, 2020

Revenue Recognition and Deferred Revenue [Abstract]

Schedule of Collaboration Revenue

During the three and six months ended June 30, 2020 and 2019, we recognized the following collaboration revenue:


	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2020		2019		2020		2019
Services performed that were considered performance obligations as of the modification dates

On-going research and development services	$	4,714	$	8,155	$	63,934	$	25,220

Services performed that were not considered performance obligations as of the modification dates

Commercialization activities	1,021		824		1,898		1,678
Total collaboration revenue - related party	$	5,735	$	8,979	$	65,832	$	26,898

Schedule of Changes in Contract Assets and Liabilities

The following table presents changes in our contract assets and liabilities during the six months ended June 30, 2020:


(In thousands)	December 31, 2019		Additions		Deductions		June 30, 2020
Contract assets
Collaboration receivable – related party ⁽¹⁾	$	1,539	$	2,876	$	(3,284)	$	1,131
Unbilled receivable - related party ⁽²⁾	—		1,406		—		1,406
Royalty receivable – related party ⁽³⁾	2,900		5,023		(6,273)		1,650
Contract liabilities
Deferred revenue – related party, current and net of current portions ⁽⁴⁾	61,513		2,421		(63,934)		—

(2) Unbilled receivables - related party amounts relate to future reimbursable costs to Celgene.

During the three and six months ended June 30, 2020 and 2019, we recognized the following as revenue due to changes in the contract liability balances:


	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2020		2019		2020		2019
Amounts included in the contract liability at the beginning of the period	$	4,748	$	8,009	$	61,513	$	24,419
Performance obligations satisfied in previous periods	—		—		—		—

Schedule of Royalty Revenue

During the three and six months ended June 30, 2020 and 2019, we recognized the following as royalty revenue:


	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2020		2019		2020		2019
Royalty revenue – related party	$	3,339	$	2,703	$	6,673	$	4,903

Schedule of Collaboration Revenue Under CStone Agreement

During the three and six months ended June 30, 2020 and 2019, we recognized the following collaboration revenue -other:


	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2020		2019		2020		2019
Services performed that were considered performance obligations as of the inception date
License and other services	$	—	$	—	$	192	$	—
Services performed that were not considered performance obligations as of the inception date
Other services	692		812		1,493		1,782

Total collaboration revenue - other	$	692	$	812	$	1,685	$	1,782

Schedule of Changes in Contract Assets and Liabilities, CStone Agreement

The following table presents changes in our contract assets during the six months ended June 30, 2020:


(In thousands)	December 31, 2019		Additions		Deductions		June 30, 2020
Contract assets (1)
Collaboration receivable - other	$	1,928	$	1,685	$	(1,786)	$	1,827

(1) Additions to contract assets relate to amounts receivable from CStone. Deductions to contract assets relate to collection of receivables during the reporting period.

Sale of Future Revenue (Tables)

6 Months Ended

Jun. 30, 2020

Sale of Future Revenue, Royalty Obligation [Abstract]

Schedule of Royalty Obligation

The following table shows the activity of the Royalty Obligation since the transaction inception through June 30, 2020:


(in thousands)	June 30, 2020
Proceeds from the sale of future revenue	$	255,000
Issuance costs	(4,463)
Non-cash royalty revenue	(1,650)
Non-cash interest expense associated with the sale of future revenue	2,051
Amortization of issuance costs	20
Liability related to the sale of future royalties	$	250,958

Share-Based Payments (Tables)

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Company's Stock Option Activity

The following table presents stock option activity for the six months ended June 30, 2020:


	Number of Stock Options	Weighted-Average Exercise Price
Outstanding at December 31, 2019	6,201,485	$	58.61
Granted	922,820	50.09
Exercised	(284,814)	18.65
Forfeited/Expired	(241,540)	70.26
Outstanding at June 30, 2020	6,597,951	$	58.72
Exercisable at June 30, 2020	3,927,185	$	61.05
Vested and expected to vest at June 30, 2020	6,597,951	$	58.72

Unvested Stock Unit Activity

The following table presents RSU activity for the six months ended June 30, 2020:


	Number of Stock Units	Weighted-Average Grant Date Fair Value
Unvested shares at December 31, 2019	766,953	$	63.44
Granted	790,376	50.79
Vested	(243,231)	69.93
Forfeited	(53,690)	61.18
Unvested shares at June 30, 2020	1,260,408	$	54.35

Schedule of Performance-Based Units

The following table presents PSU activity for the six months ended June 30, 2020:


	Number of Stock Units	Weighted-Average Grant Date Fair Value
Unvested shares at December 31, 2019	218,143	$	55.64
Granted	20,622	48.49
Vested	(78,920)	54.82

Unvested shares at June 30, 2020	159,845	$	55.13

Schedule of Market-Based Units Activity

The following table presents market-based stock unit, or MSU, activity for the six months ended June 30, 2020:


	Number of Stock Units	Weighted-Average Grant Date Fair Value
Unvested shares at December 31, 2019	42,695	$	41.50
Granted	—	—


Unvested shares at June 30, 2020	42,695	$	41.50

Schedule of Stock-Based Compensation Expense by Award Type Included Within the Condensed Consolidated Statements of Operations

Stock-based compensation expense by award type included within the condensed consolidated statements of operations is as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2020		2019		2020		2019
Stock options	$	11,503	$	12,467	$	23,106	$	25,513
Restricted stock units	7,780		5,243		13,912		9,791
Performance-based stock units	478		—		1,866		186
Employee stock purchase plan	399		392		696		720
Other stock awards	270		445		540		445
Total stock-based compensation expense	$	20,430	$	18,547	$	40,120	$	36,655

Schedule of Allocated Stock-Based Compensation Expense

Expenses related to stock options and stock-based awards were allocated as follows in the condensed consolidated statements of operations:


	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2020		2019		2020		2019
Research and development expense	$	10,158	$	10,067	$	19,722	$	20,109
Selling, general and administrative expense	10,272		8,480		20,398		16,546
Total stock-based compensation expense	$	20,430	$	18,547	$	40,120	$	36,655

Loss per Share (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Common Stock Excluded from Calculation of Diluted Earnings Per Share


	Three and Six Months Ended June 30,
	2020	2019
Stock options	6,597,951	6,343,294
Restricted stock units	1,260,408	737,510
Performance-based stock units	—	—
Employee stock purchase plan shares	39,997	33,064
Total common stock equivalents	7,898,356	7,113,868

Overview and Basis of Presentation - Additional Information (Details) - USD ($)	Jun. 11, 2020	Jun. 30, 2020
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Proceeds from the sale of future revenue	$ 255,000,000.0
Cash, cash equivalents, and short-term investments		$ 794,400,000
2010 Agreement
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Milestone-based receivable payments, eligible to be received		$ 25,000,000.0
2010 Agreement \| Celgene
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Royalty rights sold	$ 55,000,000.0

Fair Value Measurements - Cash Equivalents and Marketable Securities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total marketable securities	$ 498,555	$ 636,875
Fair Value, Measurements, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	228,961
Total marketable securities	498,555
Total cash equivalents and marketable securities	727,516
Fair Value, Measurements, Recurring \| Cash equivalents
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	228,961
Fair Value, Measurements, Recurring \| U.S. Treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total marketable securities	165,283
Fair Value, Measurements, Recurring \| Government securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total marketable securities	83,653
Fair Value, Measurements, Recurring \| Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total marketable securities	249,619
Fair Value, Measurements, Recurring \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	215,368
Total marketable securities	0
Total cash equivalents and marketable securities	215,368
Fair Value, Measurements, Recurring \| Level 1 \| Cash equivalents
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	215,368
Fair Value, Measurements, Recurring \| Level 1 \| U.S. Treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total marketable securities	0
Fair Value, Measurements, Recurring \| Level 1 \| Government securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total marketable securities	0
Fair Value, Measurements, Recurring \| Level 1 \| Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total marketable securities	0
Fair Value, Measurements, Recurring \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	13,593
Total marketable securities	498,555
Total cash equivalents and marketable securities	512,148
Fair Value, Measurements, Recurring \| Level 2 \| Cash equivalents
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	13,593
Fair Value, Measurements, Recurring \| Level 2 \| U.S. Treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total marketable securities	165,283
Fair Value, Measurements, Recurring \| Level 2 \| Government securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total marketable securities	83,653
Fair Value, Measurements, Recurring \| Level 2 \| Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total marketable securities	249,619
Fair Value, Measurements, Recurring \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	0
Total marketable securities	0
Total cash equivalents and marketable securities	0
Fair Value, Measurements, Recurring \| Level 3 \| Cash equivalents
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total cash equivalents	0
Fair Value, Measurements, Recurring \| Level 3 \| U.S. Treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total marketable securities	0
Fair Value, Measurements, Recurring \| Level 3 \| Government securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total marketable securities	0
Fair Value, Measurements, Recurring \| Level 3 \| Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total marketable securities	$ 0

Fair Value Measurements - Additional Information (Details)	Jun. 30, 2020 USD ($)
Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	$ 0

Marketable Securities - Additional Information (Details)	6 Months Ended
	Jun. 30, 2020 USD ($) security	Jun. 30, 2019 USD ($)	Dec. 31, 2019 USD ($) security
Investments, Debt and Equity Securities [Abstract]
Realized gain (loss) on marketable securities	$ 0	$ 0
Number of debt securities in unrealized loss position for less than one year \| security	28		113
Allowance for credit loss	$ 0		$ 0
Aggregate fair value of debt securities in unrealized loss position	$ 129,700,000		$ 345,700,000
Number of debt securities in significant unrealized loss position \| security	0		0

Marketable Securities - Summary of Marketable Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 496,910	$ 636,673
Unrealized Gains	1,706	470
Unrealized Losses	(61)	(268)
Fair Value	498,555	636,875
Current
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	492,625	483,877
Unrealized Gains	1,706	214
Unrealized Losses	(61)	(145)
Fair Value	494,270	483,946
Current \| U.S. Treasuries
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	164,611	178,721
Unrealized Gains	679	58
Unrealized Losses	(7)	(38)
Fair Value	165,283	178,741
Current \| Government securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	81,011	80,228
Unrealized Gains	166	17
Unrealized Losses	(23)	(16)
Fair Value	81,154	80,229
Current \| Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	247,003	224,928
Unrealized Gains	861	139
Unrealized Losses	(31)	(91)
Fair Value	247,833	224,976
Non-current
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	4,285	152,796
Unrealized Gains	0	256
Unrealized Losses	0	(123)
Fair Value	4,285	152,929
Non-current \| U.S. Treasuries
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	0	35,296
Unrealized Gains	0	3
Unrealized Losses	0	(13)
Fair Value	0	35,286
Non-current \| Government securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	2,499	17,587
Unrealized Gains	0	14
Unrealized Losses	0	(10)
Fair Value	2,499	17,591
Non-current \| Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,786	99,913
Unrealized Gains	0	239
Unrealized Losses	0	(100)
Fair Value	$ 1,786	$ 100,052

Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 1,329	$ 180
Work-in-process	8,679	6,808
Finished goods	1,223	343
Total inventory	$ 11,231	$ 7,331

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Leases [Abstract]
Remaining lease terms	8 years		8 years
Operating lease cost	$ 3.8	$ 3.8	$ 7.6	$ 6.8
Cash paid for amounts included in measurement of lease liabilities	$ 3.5	$ 3.2	$ 7.4	$ 6.3
Weighted-average incremental borrowing rate	5.70%		5.70%		5.70%
Weighted-average remaining lease term	7 years 8 months 12 days		7 years 8 months 12 days		8 years 2 months 12 days

Leases - Schedule of Undiscounted Minimum Rental Commitments Under Non-Cancelable Leases (Details) $ in Thousands	Jun. 30, 2020 USD ($)
Leases [Abstract]
Remaining 2020	$ 5,886
2021	14,380
2022	16,773
2023	18,126
2024	18,660
2025	19,507
Thereafter	44,385
Undiscounted minimum rental commitments	137,717
Interest	(29,171)
Operating lease liabilities	$ 108,546

Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Accrued compensation	$ 12,897	$ 18,982
Accrued research and development costs	18,697	21,777
Accrued professional fees	4,393	8,335
Accrued other	5,924	4,048
Total accrued expenses	$ 41,911	$ 53,142

Product Revenue - Schedule of Product Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 37,347	$ 26,221	$ 124,445	$ 56,448
Product revenue, net
Disaggregation of Revenue [Line Items]
Revenue	$ 27,581	$ 13,727	$ 50,255	$ 22,865

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Product Revenue - Schedule of Product Revenue Allowance and Reserves (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Contractual Adjustments [Roll Forward]
Contract adjustments, beginning balance	$ 874
Contractual adjustments, current provisions relating to sales in the current year	6,522
Contractual adjustments, adjustments relating to prior year	(3)
Contractual adjustments, payments/returns relating to sales in the current year	(5,522)
Contractual adjustments, payments/returns relating to sales in the prior year	(653)
Contract adjustments, ending balance	1,218
Government Rebates [Roll Forward]
Government rebates, beginning balance	1,124
Government rebates, current provisions relating to sales in the current year	4,266
Government rebates, adjustments relating to prior years	22
Government rebates, payments/returns relating to sales in the current year	(1,422)
Government rebates, payments/returns relating to sales in the prior years	(677)
Government rebates, ending balance	3,313
Product Returns [Roll Forward]
Returns, beginning balance	1,798
Returns, current provisions relating to sales in the current year	726
Returns, adjustments relating to prior years	(476)
Returns, payments/returns relating to sales in the current year	0
Returns, payments/returns relating to sales in the prior years	0
Returns, ending balance	2,048
Allowance for Doubtful Accounts Receivable [Roll Forward]
Total revenue-related reserves	6,579	$ 3,796
Total allowances and reserves, current provisions relating to sales in the current year	11,514
Total allowances and reserves, adjustments relating to prior years	(457)
Total allowances and reserves, payments/returns relating to sales in the current year	(6,944)
Total allowances and reserves, payments/returns relating to sales in the prior years	$ (1,330)

Product Revenue - Schedule of Revenue-Related Reserves (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Reduction of accounts receivable	$ 694	$ 540
Component of accrued expenses	5,885	3,256
Total revenue-related reserves	$ 6,579	$ 3,796

Product Revenue - Schedule of Changes in Contract Assets and Liabilities, Product Revenue (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020 USD ($)
Contract assets
Contract assets, beginning balance	$ 8,952
Additions	61,312
Deductions	(58,241)
Contract assets, ending balance	$ 12,023

Collaboration and License Agreements - Celegene Purchase Agreements (Details)		1 Months Ended
	Jun. 11, 2020 USD ($)	May 31, 2016 USD ($) extension	Jun. 30, 2020 USD ($)	May 17, 2016 USD ($)
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Proceeds from the sale of future revenue	$ 255,000,000.0
RPI
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Proceeds from the sale of future revenue	255,000,000.0
2010 Agreement
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Milestone-based receivable payments, eligible to be received			$ 25,000,000.0
2010 Agreement \| Celgene
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Royalty rights sold	$ 55,000,000.0
2016 Agreement \| Celgene
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Term of agreements		4 years
Extension period \| extension		2
Number of allowable special case extensions \| extension		4
Special case extension term		1 year
Upfront payment agreement extension fee receivable		$ 40,000,000.0
Option exercise fee receivable				$ 30,000,000.0

Collaboration and License Agreements - Collaboration Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 37,347	$ 26,221	$ 124,445	$ 56,448
On-going research and development services
Disaggregation of Revenue [Line Items]
Revenue	4,714	8,155	63,934	25,220
Commercialization activities
Disaggregation of Revenue [Line Items]
Revenue	1,021	824	1,898	1,678
Collaboration revenue – related party
Disaggregation of Revenue [Line Items]
Revenue	$ 5,735	$ 8,979	$ 65,832	$ 26,898

- Definition

+ References

+ Details

Collaboration and License Agreements - Schedule of Changes in Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Contract assets
Contract assets, beginning balance			$ 8,952
Additions			61,312
Deductions			(58,241)
Contract assets, ending balance	$ 12,023		12,023
Contract liabilities
Additions	4,748	$ 8,009	61,513	$ 24,419
Collaboration receivable – related party
Contract assets
Contract assets, beginning balance			1,539
Additions			2,876
Deductions			(3,284)
Contract assets, ending balance	1,131		1,131
Unbilled receivable - related party, net of current portions
Contract assets
Contract assets, beginning balance			0
Additions			1,406
Deductions			0
Contract assets, ending balance	1,406		1,406
Royalty receivable – related party
Contract assets
Contract assets, beginning balance			2,900
Additions			5,023
Deductions			(6,273)
Contract assets, ending balance	1,650		1,650
Deferred revenue – related party, current and net of current portions
Contract liabilities
Contract liabilities, beginning balance			61,513
Additions			2,421
Deductions			(63,934)
Contract liabilities, ending balance	$ 0		$ 0

Collaboration and License Agreements - Schedule of Revenues as a Result of Changes in Contract Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue Recognition and Deferred Revenue [Abstract]
Amounts included in the contract liability at the beginning of the period	$ 4,748	$ 8,009	$ 61,513	$ 24,419
Performance obligations satisfied in previous periods	$ 0	$ 0	$ 0	$ 0

Collaboration and License Agreements - Additional Information (Details) - USD ($)		3 Months Ended		6 Months Ended
	Jun. 11, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Remaining unsatisfied performance obligation		$ 5,200,000		$ 5,200,000
Proceeds from the sale of future revenue	$ 255,000,000.0
Milestones achieved		0	$ 0	0	$ 0
2010 Agreement
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Potential milestone payment		$ 25,000,000.0		$ 25,000,000.0

Collaboration and License Agreements - CStone Pharmaceuticals Purchase Agreement (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Remaining unsatisfied performance obligation		$ 5,200,000		$ 5,200,000
Revenue		37,347,000	$ 26,221,000	124,445,000	$ 56,448,000
Milestones achieved		0	0	0	0
Collaboration revenue – related party
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Revenue		5,735,000	8,979,000	65,832,000	26,898,000
Royalty revenue – related party
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Revenue		3,339,000	2,703,000	6,673,000	4,903,000
CStone Pharmaceuticals \| CStone Agreement
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Initial payment received	$ 12,000,000.0
Potential future milestone payments		5,000,000.0		5,000,000.0
Remaining unsatisfied performance obligation		500,000		500,000
Milestones achieved		0	$ 0	0	$ 0
CStone Pharmaceuticals \| CStone Agreement \| Minimum
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Royalty percentage	15.00%
CStone Pharmaceuticals \| CStone Agreement \| Maximum
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Potential future milestone payments		$ 407,000,000.0		407,000,000.0
Royalty percentage	19.00%
CStone Pharmaceuticals \| CStone Agreement \| Royalty revenue – related party
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Revenue				$ 0

Collaboration and License Agreements - Schedule of Collaboration Revenue from CStone Agreement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 37,347	$ 26,221	$ 124,445	$ 56,448
License and other services \| CStone Agreement
Disaggregation of Revenue [Line Items]
Revenue	0	0	192	0
Other services \| CStone Agreement
Disaggregation of Revenue [Line Items]
Revenue	692	812	1,493	1,782
Collaboration revenue – other
Disaggregation of Revenue [Line Items]
Revenue	692	812	1,685	1,782
Collaboration revenue – other \| CStone Agreement
Disaggregation of Revenue [Line Items]
Revenue	$ 692	$ 812	$ 1,685	$ 1,782

- Definition

+ References

+ Details

Collaboration and License Agreements - Changes in Contract Assets and Liabilities Under CStone Agreement (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020 USD ($)
Contract assets
Contract assets, beginning balance	$ 8,952
Deductions	(58,241)
Contract assets, ending balance	12,023
Collaboration receivable - other \| CStone Agreement
Contract assets
Contract assets, beginning balance	1,928
Additions	1,685
Deductions	(1,786)
Contract assets, ending balance	$ 1,827

Sale of Future Revenue - Additional Information (Details) - USD ($)		1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 11, 2020	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Proceeds from the sale of future revenue	$ 255,000,000.0
Estimated effective interest rate on royalty rights sold	16.40%
Revenue			$ 37,347,000	$ 26,221,000	$ 124,445,000	$ 56,448,000
Royalty Revenue
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Revenue			$ 3,339,000	$ 2,703,000	6,673,000	$ 4,903,000
RPI
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Proceeds from the sale of future revenue	$ 255,000,000.0
Non-cash royalty revenue		$ 1,650,000			$ 1,650,000
2010 Agreement \| Celgene
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Royalty rights sold	$ 55,000,000.0

Sale of Future Revenue - Schedule of Royalty Obligation (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Sale of Future Revenue, Liability, Noncurrent [Roll Forward]
Proceeds from the sale of future revenue		$ 0
Liability related to the sale of future royalties	$ 250,958	250,958
RPI
Sale of Future Revenue, Liability, Noncurrent [Roll Forward]
Proceeds from the sale of future revenue	255,000
Issuance costs	(4,463)
Non-cash royalty revenue	(1,650)	(1,650)
Non-cash interest expense associated with the sale of future revenue	2,051
Amortization of issuance costs	20
Liability related to the sale of future royalties	$ 250,958	$ 250,958

Share-Based Payments - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense for options	$ 51,100,000
Weighted-average period to recognize compensation expense (in years)	2 years 1 month 6 days
Market-Based Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense for options	$ 200,000
Weighted-average period to recognize compensation expense (in years)	2 months 12 days
2007 Plan and 2013 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)	10,749,789
2013 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future issuance (in shares)	2,688,890
Unrecognized compensation expense for options	$ 94,200,000
Weighted-average period to recognize compensation expense (in years)	2 years 6 months
2013 Stock Incentive Plan \| Performance Stock Unit, Not Probable of Meeting Vesting Criteria
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense for options	$ 0
Unrecognized stock based compensation expense	$ 6,900,000
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future issuance (in shares)	528,952
Shares issued under 2013 ESPP (in shares)	62,694	32,410
Opportunity to purchase of common stock (in shares)	836,363

Share-Based Payments - Summary of Stock Option Activity (Details) - $ / shares	6 Months Ended
	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of stock options, outstanding, beginning balance (in shares)	6,201,485
Number of stock options, granted (in shares)	922,820
Number of stock options, exercised (in shares)	(284,814)
Number of stock options, forfeited/expired (in shares)	(241,540)
Number of stock options, outstanding, ending balance (in shares)	6,597,951
Number of stock options, exercisable (in shares)	3,927,185
Number of stock options, vested and expected to vest (in shares)	6,597,951
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted-average exercise price, outstanding, beginning balance (in usd per share)	$ 58.61
Weighted-average exercise price, granted (in usd per share)	50.09
Weighted-average exercise price, exercised (in usd per share)	18.65
Weighted-average exercise price, forfeited/expired (in usd per share)	70.26
Weighted-average exercise price, outstanding, ending balance (in usd per share)	58.72
Weighted-average exercise price, exercisable (in usd per share)	61.05
Weighted-average exercise price, vested and expected to vest (in usd per share)	$ 58.72

Share-Based Payments - Summary of Unvested RSUs Activity (Details) - Restricted Stock Units	6 Months Ended
	Jun. 30, 2020 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested shares beginning of period (in shares) \| shares	766,953
Granted (in shares) \| shares	790,376
Vested (in shares) \| shares	(243,231)
Forfeited (in shares) \| shares	(53,690)
Unvested shares end of period (in shares) \| shares	1,260,408
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted-average grant date fair value, Unvested shares beginning of period (in usd per share) \| $ / shares	$ 63.44
Weighted-average grant date fair value, Granted (in usd per share) \| $ / shares	50.79
Weighted-average grant date fair value, Vested (in usd per share) \| $ / shares	69.93
Weighted-average grant date fair value, Forfeited (in usd per share) \| $ / shares	61.18
Weighted-average grant date fair value, Unvested shares end of period (in usd per share) \| $ / shares	$ 54.35

Share-Based Payments - Schedule of Performance-Based and Market- Based Units (Details)	6 Months Ended
	Jun. 30, 2020 $ / shares shares
Performance-Based Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested shares beginning of period (in shares) \| shares	218,143
Granted (in shares) \| shares	20,622
Vested (in shares) \| shares	(78,920)
Unvested shares end of period (in shares) \| shares	159,845
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted-average grant date fair value, Unvested shares beginning of period (in usd per share) \| $ / shares	$ 55.64
Weighted-average grant date fair value, Granted (in usd per share) \| $ / shares	48.49
Weighted-average grant date fair value, Vested (in usd per share) \| $ / shares	54.82
Weighted-average grant date fair value, Unvested shares end of period (in usd per share) \| $ / shares	$ 55.13
Market-Based Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested shares beginning of period (in shares) \| shares	42,695
Granted (in shares) \| shares	0
Unvested shares end of period (in shares) \| shares	42,695
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted-average grant date fair value, Unvested shares beginning of period (in usd per share) \| $ / shares	$ 41.50
Weighted-average grant date fair value, Granted (in usd per share) \| $ / shares	0
Weighted-average grant date fair value, Unvested shares end of period (in usd per share) \| $ / shares	$ 41.50

Share-Based Payments - Schedule of Stock-Based Compensation Expense by Award Type Included Within the Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 20,430	$ 18,547	$ 40,120	$ 36,655
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	11,503	12,467	23,106	25,513
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	7,780	5,243	13,912	9,791
Performance-Based Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	478	0	1,866	186
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	399	392	696	720
Other Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 270	$ 445	$ 540	$ 445

Share-Based Payments - Expenses Related to Equity-Based Awards (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 20,430	$ 18,547	$ 40,120	$ 36,655
Research and development expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	10,158	10,067	19,722	20,109
Selling, general and administrative expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 10,272	$ 8,480	$ 20,398	$ 16,546

Loss per Share - Common Stock Excluded from Calculation of Diluted Net Loss Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total common stock equivalents excluded from computation of earnings per share (in shares)	7,898,356	7,113,868	7,898,356	7,113,868
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total common stock equivalents excluded from computation of earnings per share (in shares)	6,597,951	6,343,294	6,597,951	6,343,294
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total common stock equivalents excluded from computation of earnings per share (in shares)	1,260,408	737,510	1,260,408	737,510
Performance-based stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total common stock equivalents excluded from computation of earnings per share (in shares)	0	0	0	0
Employee stock purchase plan shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total common stock equivalents excluded from computation of earnings per share (in shares)	39,997	33,064	39,997	33,064