Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income (loss) $ 41,949 $ (15,385)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Change in estimated fair value of contingent liabilities (670) (1,035)
Depreciation and amortization of intangible assets 9,499 13,655
Amortization of premium on investments, net (282) 51
Amortization of debt discount and issuance fees 95 326
Amortization of commercial license rights (379) (11)
Gain on debt extinguishment 0 (1,532)
Share-based compensation 5,931 9,044
Deferred income taxes 8,754 (16,180)
(Gain) loss from short-term investments (39,533) 12,877
Lease amortization expense 447 1,490
Other 240 (80)
Changes in operating assets and liabilities:    
Accounts receivable, net 1,099 43,638
Inventory 2,035 44
Accounts payable and accrued liabilities (435) (2,708)
Income tax receivable and payable 4,614 11,993
Deferred revenue (98) (2,453)
Other assets and liabilities 682 (1,723)
Net cash provided by operating activities 33,948 52,011
Cash flows from investing activities:    
Purchase of short-term investments (39,864) (38,190)
Proceeds from sale of short-term investments 44,232 132,866
Proceeds from maturity of short-term investments 8,465 24,830
Cash paid for equity method investment 0 (750)
Purchase of property and equipment (2,414) (4,875)
Proceeds from commercial license rights 130 0
Net cash provided by investing activities 10,549 113,881
Cash flows from financing activities:    
Repurchase of 2023 Notes 0 (163,356)
Payments under financing lease obligations (13) (13)
Net proceeds from stock option exercises and ESPP 3,393 347
Taxes paid related to net share settlement of equity awards (4,155) (5,862)
Payments to CVR Holders 0 (1,416)
Other 0 (121)
Net cash used in financing activities (775) (170,421)
Net increase (decrease) in cash, cash equivalents and restricted cash 43,722 (4,529)
Cash, cash equivalents and restricted cash at beginning of period 45,006 19,522
Cash, cash equivalents and restricted cash at end of period 88,728 14,993
Supplemental disclosure of cash flow information:    
Interest paid 0 359
Supplemental schedule of non-cash activity:    
Accrued fixed asset purchases 140 2,574
Accrued inventory purchases 2,752 306
Unrealized gain (loss) on AFS investments, net of tax $ 49 $ (114)