Annual report pursuant to Section 13 and 15(d)

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

v3.20.4
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Revenue from Significant Partners
Revenue from significant partners, which is defined as 10% or more of our total revenue, was as follows:
Year-ended December 31,
2020 2019 2018
Partner A 45  % 13  % 40  %
Partner B 17  % 27  % 13  %
Partner C < 10% < 10% 20  %
* Except for Partner B, who represents the same customer for all three years presented, Partner A represents two different customers and Partner C represents another two different customers for the three years presented.
Schedule of Commercial License Rights
Commercial license and other economic rights consist of the following (in thousands):


December 31, 2020 December 31, 2019
Gross
Adjustments(1)
Net Gross
Adjustments(2)
Net
Aziyo and CorMatrix $ 17,696  $ (9,588) $ 8,108  $ 17,696  $ (5,500) $ 12,196 
Palvella 10,000  (10,000) —  10,000  (7,492) 2,508 
Selexis and Dianomi 10,602  (7,731) 2,871  10,602  (5,216) 5,386 
     Total $ 38,298  $ (27,319) $ 10,979  $ 38,298  $ (18,208) $ 20,090 

(1) Amounts represent accumulated amortization to principal or research and development expenses of $21.3 million and credit loss adjustments of $6.0 million as of December 31, 2020 . Of the $6.0 million credit loss adjustments as of December 31, 2020, $5.5 million was recorded to retained earnings upon the adoption of ASU 2016-13, Financial Instruments - Credit Losses, on January 1, 2020.
(2) Amounts represent accumulated amortization to principal or research and development expenses as of December 31, 2019.
Schedule of Disaggregation of Revenue
Royalty revenue for 2020, 2019 and 2018 are reported as below (in thousands):

Year ended December 31,
2020 2019 2018
Kyprolis $ 25,164  $ 25,046  $ 21,686 
Evomela 6,377  5,171  5,658 
Other 2,255  2,566  1,952 
Promacta N/A 14,193  99,260 
$ 33,796  $ 46,976  $ 128,556 


The following table represents disaggregation of Material Sales and License fees, milestone and other (in thousands):

Year ended December 31,
2020 2019 2018
     Captisol $ 109,959  $ 31,489  $ 29,123 
Contract
     Service Revenue 21,803  16,776  4,749 
     License Fees 4,378  6,199  78,195 
     Milestone 11,516  17,173  6,577 
     Other 4,967  1,669  4,253 
$ 42,664  $ 41,817  $ 93,774 
Schedule of Computation of Basic and Diluted Net Income (Loss) per Share
The following table presents the calculation of weighted average shares used to calculate basic and diluted income (loss) per share (in thousands):
Year Ended December 31,
  2020 2019 2018
Weighted average shares outstanding: 16,185  18,995  21,160 
Dilutive potential common shares:
   Restricted stock —  43  72 
   Stock options —  719  1,125 
   Warrants associated with 2019 Notes —  —  1,017 
   2019 Convertible Senior Notes —  —  693 
Shares used to compute diluted income (loss) per share 16,185  19,757  24,067 
Potentially dilutive shares excluded from calculation due to anti-dilutive effect 8,458  8,926  2,845