Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Total revenues $ 64,835 $ 41,848 $ 204,660 $ 116,429
Operating costs and expenses:        
Cost of Captisol 11,446 6,353 50,192 18,680
Amortization of intangibles 11,827 3,875 35,391 11,285
Research and development 16,938 12,853 50,769 37,476
General and administrative 12,718 15,020 39,747 34,353
Other operating income (3,800) 0 (37,600) 0
Total operating costs and expenses 49,129 38,101 138,499 101,794
Income from operations 15,706 3,747 66,161 14,635
Other income (expense):        
Gain (loss) from short-term investments 1,937 (9,862) 8,135 (17,143)
Interest income 169 991 698 7,690
Interest expense (4,439) (6,269) (15,154) (21,030)
Other income (expense), net 1,886 (219) (5,516) 1,940
Total other income (loss), net (447) (15,359) (11,837) (28,543)
Income (loss) before income taxes 15,259 (11,612) 54,324 (13,908)
Income tax benefit (expense) (1,536) 4,911 8,230 5,162
Net income (loss) $ 13,723 $ (6,701) $ 62,554 $ (8,746)
Earnings Per Share, Basic and Diluted:        
Basic net income (loss) per share (USD per share) $ 0.82 $ (0.42) $ 3.77 $ (0.54)
Shares used in basic per share calculations (in shares) 16,688 16,082 16,595 16,222
Diluted net income (loss) per share (USD per share) $ 0.80 $ (0.42) $ 3.64 $ (0.54)
Shares used in diluted per share calculations (in shares) 17,142 16,082 17,187 16,222
Royalties        
Revenues:        
Total revenues $ 15,648 $ 9,005 $ 31,376 $ 22,751
Captisol        
Revenues:        
Total revenues 35,093 23,389 128,875 68,966
Contract revenue        
Revenues:        
Total revenues $ 14,094 $ 9,454 $ 44,409 $ 24,712