Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities    
Net income $ 11,137 $ 438
Less: income from discontinued operations 0 731
Income (loss) from continuing operations 11,137 (293)
Adjustments to reconcile net income to net cash provided by operating activities:    
Non-cash change in estimated fair value of contingent liabilities 966 1,638
Realized gain on sale of short-term investment (248) (602)
Depreciation and amortization 5,564 5,388
Amortization of premium (discount) on investments, net (44) 331
Amortization of debt discount and issuance fees 5,720 5,378
Stock-based compensation 10,669 8,766
Deferred income taxes 3,224 187
Change in fair value of the Viking convertible debt receivable and warrants 77 (310)
Loss from Viking 2,330 12,743
Changes in operating assets and liabilities:    
Accounts receivable 1,263 (3,791)
Inventory (4,286) (2,202)
Other current assets 314 (629)
Accounts payable and accrued liabilities (2,153) (3,323)
Other 75 204
Net cash provided by operating activities 34,608 23,485
Investing activities    
Purchase of commercial license rights 0 (17,691)
Payments to CVR holders and other contingency payments (4,998) (5,635)
Purchases of property and equipment (199) (1,021)
Cash paid for acquisition, net of cash acquired 0 (92,504)
Purchase of short-term investments (124,282) (49,892)
Purchase of Viking common stock and warrants 0 (700)
Proceeds received from repayment of Viking note receivable 0 300
Proceeds received from repayment of commercial license rights 2,859 0
Proceeds from sale of short-term investments 83,268 22,077
Proceeds from maturity of short-term investments 51,887 83,523
Net cash provided (used) in investing activities 8,535 (61,543)
Financing activities    
Net proceeds from stock option exercises and ESPP 2,370 2,482
Taxes paid related to net share settlement of equity awards (4,042) 0
Share repurchase 0 (502)
Net cash (used in) provided by financing activities (1,672) 1,980
Net increase (decrease) in cash and cash equivalents 41,471 (36,078)
Cash and cash equivalents at beginning of period 18,752 97,428
Cash and cash equivalents at end of period 60,223 61,350
Supplemental disclosure of cash flow information    
Interest paid 919 919
Taxes paid 132 36
Supplemental schedule of non-cash activity    
Stock issued for acquisition, net of issuance cost 0 (77,615)
Stock and warrant received for repayment of Viking notes receivable 0 1,200
Unrealized gain (loss) on AFS investments $ 24 $ (1,198)