ACHN 2017 Annual Report

ITEM 6. SELECTED FINANCIAL DATA The following selected financial data should be read together with the information under “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our financial statements and the notes to those financial statements included elsewhere in this Annual Report on Form 10-K. The selected statement of comprehensive loss data for the years ended December 31, 2017, 2016 and 2015 and balance sheet data as of December 31, 2017 and 2016 set forth below have been derived from our audited financial statements included elsewhere in this Annual Report on Form 10-K. The selected statement of comprehensive loss data for the years ended December 31, 2014 and 2013 and balance sheet data as of December 31, 2015, 2014 and 2013 set forth below have been derived from the audited financial statements for such years not included in this Annual Report on Form 10-K. The historical results presented here are not necessarily indicative of future results. Years Ended December 31, 2017 2016 2015 2014 2013 (in thousands, except per share amounts) Statement of Comprehensive Loss Data: Total revenue (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ — $ 15,000 $ 66,122 $ — $ — Research and development . . . . . . . . . . . . . . . . . . . . . . 65,052 59,162 56,553 53,515 46,736 General and administrative . . . . . . . . . . . . . . . . . . . . . 24,524 20,703 24,676 15,911 12,741 Total operating expenses . . . . . . . . . . . . . . . . . . . . . . . 89,576 79,865 81,229 69,426 59,477 Loss from operations . . . . . . . . . . . . . . . . . . . . . . . . . . (89,576) (64,865) (15,107) (69,426) (59,477) Interest income (expense), net . . . . . . . . . . . . . . . . . . . 4,340 3,159 1,188 418 530 Net loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (85,236) (61,706) (5,030) (69,008) (58,947) Net loss per share—basic and diluted . . . . . . . . . . . . . $ (0.62) $ (0.45) $ (0.04) $ (0.70) $ (0.63) Weighted average number of shares outstanding— basic and diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . 137,180 136,667 125,592 98,367 93,983 As of December 31, 2017 2016 2015 2014 2013 Balance Sheet Data: Cash and cash equivalents (1)(2) . . . . . . . . . . . . . . . . . $ 43,496 $ 77,261 $ 81,725 $ 73,664 $ 33,457 Short-term marketable securities (1)(2) . . . . . . . . . . . . 256,578 286,558 377,616 79,215 88,393 Long-term marketable securities . . . . . . . . . . . . . . . . . 30,511 27,657 — — 36,139 Working capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 291,054 368,564 447,930 141,816 115,379 Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 337,613 413,875 464,525 156,807 162,417 Long-term liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . 214 450 231 279 56 Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,098 14,421 14,889 13,338 9,459 Total stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . 324,515 399,454 449,636 143,469 152,958 In addition to the following notes, see “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the Consolidated Financial Statements and accompanying notes and previously filed Annual Reports on Form 10-K for further information regarding our results of operations and financial position for periods reported therein. (1) In May 2015, we entered into an exclusive collaboration and license agreement with Janssen, and its affiliate, Johnson & Johnson Innovation-JJDC, Inc., or JJDC, which we refer to as the Janssen Agreement, for the further clinical advancement of a portfolio of antivirals we discovered and developed for the treatment of HCV. In addition, upon the closing of the transactions contemplated by the Janssen Agreement, we entered into a stock purchase agreement with JJDC. Pursuant to the JJDC Stock Purchase Agreement, on July 1, 2015, we issued 18,367,346 shares of common stock to JJDC at a price of $12.25 per share for an aggregate purchase price of $225 million. We recorded revenue of $66.1 million during the year ended December 31, 2015 associated with this transaction. We also recorded revenue of $15.0 million during the year ended December 31, 2016 related to 75