Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Total revenues $ 32,868 $ 59,221 $ 103,213 $ 145,863
Operating costs and expenses:        
Cost of Captisol 3,485 14,153 8,871 31,213
Amortization of intangibles 8,238 8,568 25,316 25,698
Research and development 5,532 9,239 19,049 26,885
General and administrative 14,656 14,920 36,798 38,931
Total operating costs and expenses 31,911 46,880 90,034 122,727
Gain on sale of Pelican (2,121) 0 (2,121) 0
Operating income from continuing operations 3,078 12,341 15,300 23,136
Other income (expense):        
Gain (loss) from short-term investments (13,184) (923) 30,340 (15,709)
Interest income 2,263 591 6,018 1,023
Interest expense (1) (332) (525) (1,559)
Other (loss) income, net (4,300) 677 (4,570) 4,980
Total other income (expense), net (15,222) 13 31,263 (11,265)
Income (loss) before income taxes from continuing operations (12,144) 12,354 46,563 11,871
Income tax benefit (expense) 1,871 (2,709) (10,932) (2,556)
Net income (loss) from continuing operations (10,273) 9,645 35,631 9,315
Net loss from discontinued operations 0 (9,241) (1,665) (25,191)
Net income (loss) $ (10,273) $ 404 $ 33,966 $ (15,876)
Earnings per share        
Basic net income from continuing operations per share (in USD per share) $ (0.59) $ 0.57 $ 2.07 $ 0.55
Basic net loss from discontinued operations per share (in USD per share) 0 (0.55) (0.10) (1.49)
Basic net income (loss) per share (in USD per share) $ (0.59) $ 0.02 $ 1.97 $ (0.94)
Shares used in basic per share calculations (in shares) 17,380 16,888 17,241 16,860
Diluted net income from continuing operations per share (in USD per share) $ (0.59) $ 0.56 $ 2.00 $ 0.54
Diluted net loss from discontinued operations per share (in USD per share) 0 (0.54) (0.09) (1.47)
Diluted net income (loss) per share (in USD per share) $ (0.59) $ 0.02 $ 1.91 $ (0.93)
Shares used in diluted per share calculations (in shares) 17,380 17,132 17,784 17,128
Royalties        
Revenues:        
Total revenues $ 23,863 $ 19,255 $ 61,447 $ 50,507
Captisol        
Revenues:        
Total revenues 8,608 35,949 24,450 77,616
Contract revenue        
Revenues:        
Total revenues $ 397 $ 4,017 $ 17,316 $ 17,740