Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.5.0.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
Royalties $ 9,754 $ 6,606 $ 24,144 $ 16,893
Material sales 3,886 10,681 9,227 14,410
License fees, milestones and other revenues 5,881 1,131 15,798 1,717
Total revenues 19,521 18,418 49,169 33,020
Operating costs and expenses:        
Cost of sales [1] 720 2,600 1,675 3,673
Amortization of intangibles 2,681 594 5,206 1,188
Research and development 4,914 3,416 8,915 6,784
General and administrative 6,863 7,225 13,691 13,219
Lease exit and termination costs 374 218 618 441
Total operating costs and expenses 15,552 14,053 30,105 25,305
Income from operations 3,969 4,365 19,064 7,715
Other (expense) income:        
Interest expense, net (3,051) (2,969) (6,055) (5,945)
Increase in contingent liabilities (332) (7,274) (1,638) (7,277)
Gain on deconsolidation of Viking Therapeutics 0 28,190 0 28,190
Loss from Viking Therapeutics (11,138) (870) (12,743) (870)
Other income, net 501 850 892 404
Total other (expense) income, net (14,020) 17,927 (19,544) 14,502
Income (loss) before income taxes (10,051) 22,292 (480) 22,217
Income tax benefit (expense) 3,881 (265) 187 (279)
(Loss) income from operations (6,170) 22,027 (293) 21,938
Gain on sale of Oncology Product Line before income taxes 0 0 1,139 0
Income tax expense on discontinued operations 0 0 (408) 0
Income from discontinued operations 0 0 731 0
Net (loss) income including noncontrolling interests: (6,170) 22,027 438 21,938
Less: Net loss attributable to noncontrolling interests 0 (1,537) 0 (2,380)
Net (loss) income $ (6,170) $ 23,564 $ 438 $ 24,318
Basic earnings (loss) per share data        
(Loss) income from continuing operations (in usd per share) $ (0.30) $ 1.19 $ (0.01) $ 1.24
Income from discontinued operations (in usd per share) 0.00 0.00 0.04 0.00
Net (loss) income (in usd per share) (0.30) 1.19 0.02 1.24
Diluted earnings per share data        
(Loss) income from continuing operations (in usd per share) (0.30) 1.11 (0.01) 1.16
Income from discontinued operations (in usd per share) 0.00 0.00 0.04 0.00
Net (loss) income (in usd per share) $ (0.30) $ 1.11 $ 0.02 $ 1.16
Shares used for computation (in thousands)        
Basic (in shares) 20,832,000 19,725,000 20,765,000 19,668,000
Diluted (in shares) 20,831,809 21,276,404 20,765,053 20,953,134
[1] Excludes amortization of intangibles.