Quarterly report pursuant to Section 13 or 15(d)

Spin-off of OmniAb (Tables)

v3.23.1
Spin-off of OmniAb (Tables)
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Schedule of Carrying Amounts of Major Classes of Assets and Liabilities Related to Assets Held for Sale The following table summarizes revenue and expenses of the discontinued operations for the three months ended March 31, 2022 (in thousands):
Three months ended
March 31, 2022
Revenues:
Royalties $ 263 
Contract revenue 8,914 
Total revenues 9,177 
Operating costs and expenses:
Amortization of intangibles 3,233 
Research and development 11,128 
General and administrative 6,255 
Total operating costs and expenses 20,616 
Loss from operations (11,439)
Other income (expense):
Other income, net 443 
Total other expense, net 443 
Loss before income tax (10,996)
Income tax benefit 8,540 
Net loss $ (2,456)

The following table summarizes the significant non-cash items, capital expenditures of the discontinued operations, and financing activities that are included in the consolidated statements of cash flows for the three months ended March 31, 2022 (in thousands):
Three months ended
March 31, 2022
Operating activities:
Change in fair value of contingent consideration $ (443)
Depreciation and amortization 4,207 
Stock-based compensation expense 1,935 
Investing activities:
Purchase of property, plant and equipment (3,143)
Financing activities:
Payments to CVR Holders $ (1,416)
Supplemental cash flow disclosures:
Purchases of property, plant and equipment included in accounts payable and accrued expenses $ 140