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
Mar. 31, 2022
Mar. 31, 2021
Revenues:    
Total revenues $ 45,693 $ 55,150
Operating costs and expenses:    
Cost of Captisol 4,699 8,153
Amortization of intangibles 11,813 11,786
Research and development 20,307 17,879
General and administrative 18,180 12,617
Total operating costs and expenses 54,999 50,435
Income (loss) from operations (9,306) 4,715
Other income (expense):    
Gain (loss) from short-term investments (12,877) 13,061
Interest income 134 296
Interest expense (789) (5,831)
Other income (expense), net 2,698 (6,477)
Total other income (loss), net (10,834) 1,049
Income (loss) before income taxes (20,140) 5,764
Income tax benefit 4,755 12,342
Net income (loss) $ (15,385) $ 18,106
Earnings Per Share, Basic and Diluted:    
Basic net income (loss) per share (USD per share) $ (0.91) $ 1.10
Shares used in basic per share calculations (in shares) 16,824 16,435
Diluted net income (loss) per share (USD per share) $ (0.91) $ 1.05
Shares used in diluted per share calculations (in shares) 16,824 17,248
Total revenue $ 45,693 $ 55,150
Royalties    
Revenues:    
Total revenues 13,695 7,112
Earnings Per Share, Basic and Diluted:    
Total revenue 13,695 7,112
Captisol    
Revenues:    
Total revenues 12,122 31,272
Earnings Per Share, Basic and Diluted:    
Total revenue 12,122 31,272
Contract revenue    
Revenues:    
Total revenues 19,876 16,766
Earnings Per Share, Basic and Diluted:    
Total revenue $ 19,876 $ 16,766