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, 2023
Mar. 31, 2022
Revenues:    
Total revenues $ 43,979 $ 36,516
Operating costs and expenses:    
Cost of Captisol 3,717 4,699
Amortization of intangibles 8,539 8,580
Research and development 6,663 9,179
General and administrative 10,855 11,925
Total operating costs and expenses 29,774 34,383
Operating income from continuing operations 14,205 2,133
Other income (expense):    
Gain (loss) from short-term investments 39,533 (12,877)
Interest income 1,435 134
Interest expense (240) (789)
Other income, net 603 2,255
Total other income (expense), net 41,331 (11,277)
Income (loss) before income taxes from continuing operations 55,536 (9,144)
Income tax expense (11,922) (3,785)
Net income (loss) from continuing operations 43,614 (12,929)
Net loss from discontinued operations (1,665) (2,456)
Net income (loss) $ 41,949 $ (15,385)
Earnings per share    
Basic net income (loss) from continuing operations per share (in USD per share) $ 2.56 $ (0.77)
Basic net loss from discontinued operations per share (in USD per share) (0.10) (0.15)
Basic net income (loss) per share (in USD per share) $ 2.46 $ (0.91)
Shares used in basic per share calculations (in shares) 17,063 16,824
Diluted net income (loss) from continuing operations per share (in USD per share) $ 2.43 $ (0.77)
Diluted net loss from discontinued operations per share (in USD per share) (0.09) (0.15)
Diluted net income (loss) per share (in USD per share) $ 2.33 $ (0.91)
Shares used in diluted per share calculations (in shares) 17,974 16,824
Royalties    
Revenues:    
Total revenues $ 17,154 $ 13,432
Captisol    
Revenues:    
Total revenues 10,622 12,122
Contract revenue    
Revenues:    
Total revenues $ 16,203 $ 10,962