Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v2.4.0.6
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2012
Accounting Policies [Abstract]  
Schedules of concentration of risk
Customers with revenues of 10% or more of our total revenues consist of the following:
 
Percentage of Total Revenues
For The Years Ended December  31,
 
2012
 
2011
 
2010
Customers:
 
 
 
 
 
Shell
51
%
 
51
%
 
62
%
Merck
13
%
 
10
%
 
10
%
Customers with accounts receivables balance of 10% or more of our total receivables balance consist of the following: 
 
Percentage of accounts receivable
as of December 31,
 
2012
 
2011
Customers
 
 
 
Pharmaceutical Customer A
53
%
 
1
%
Pharmaceutical Customer B
11
%
 
%
Schedule of estimated ranges of useful lives of property and equipment
Depreciation is calculated using the straight-line method over the following estimated ranges of useful lives:
 
Asset classification
Estimated useful life
 
Laboratory equipment
5 years
 
 
 
 
Computer equipment and software
3 to 5 years
 
 
 
 
Office equipment and furniture
5 years
 
 
 
 
Leasehold improvements
Lesser of useful life or lease term
Property and equipment consisted of the following (in thousands): 
 
December 31,
 
2012
 
2011
Laboratory equipment
$
33,776

 
$
34,903

Leasehold improvements
4,388

 
13,058

Computer equipment and software
11,099

 
4,671

Office equipment and furniture
1,531

 
1,319

Construction in progress (1)
28

 
1,972

 
50,822

 
55,923

Less: accumulated depreciation and amortization
(34,172
)
 
(31,747
)
Property and equipment, net
$
16,650

 
$
24,176

(1)
Construction in progress also includes equipment received but not yet placed into service pending installation.
Schedule of collaborative research and development revenues
Collaborative research and development revenues related to the arrangements with Shell consisted of the following (in thousands):
 
Years Ended December 31,
 
2012
 
2011
 
2010
License, technology access and exclusivity fees
$
3,403

 
$
4,084

 
$
4,084

Services
41,917

 
53,541

 
54,664

Milestones

 
5,554

 
7,400

Shell collaborative research and development revenues
$
45,320

 
$
63,179

 
$
66,148

Other collaborative research and development revenues consisted of the following (in thousands):
 
Years Ended December 31,
 
2012
 
2011
 
2010
License, technology access and exclusivity fees
$
186

 
$
686

 
$
186

Services
1,785

 
5,804

 
2,695

Milestones
1,000

 

 
420

Royalties
1,836

 
1,699

 
747

Other collaborative research and development revenues
$
4,807

 
$
8,189

 
$
4,048

Schedule of calculation of basic and diluted net loss per share of common stock
The following table presents the calculation of basic and diluted net loss per share of common stock (in thousands, except per share amounts):
 
Years Ended December 31,
 
2012
 
2011
 
2010
Numerator:
 
 
 
 
 
Net loss
$
(30,857
)
 
$
(16,550
)
 
$
(8,541
)
Denominator:
 
 
 
 
 
Weighted-average shares of common stock outstanding
36,768

 
35,674

 
24,597

Weighted-average shares of common stock subject to repurchase

 

 
(3
)
Weighted-average shares of common stock used in computing net loss per share of common stock, basic and diluted
36,768

 
35,674

 
24,594

Net loss per share of common stock, basic and diluted
$
(0.84
)
 
$
(0.46
)
 
$
(0.35
)
Securities not included in the net loss per common share calculations
The following options to purchase common stock, restricted stock units and warrants to purchase common stock were excluded from the computation of diluted net loss per share of common stock for the periods presented because including them would have had an anti-dilutive effect (in thousands):
 
Years Ended December 31,
 
2012
 
2011
 
2010
Options to purchase common stock
6,133

 
7,904

 
7,796

Restricted stock units
958

 
546

 

Warrants to purchase common stock
260

 
266

 
266

Total
7,351

 
8,716

 
8,062