Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v2.4.0.8
Condensed Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues:        
Royalties $ 7,482 $ 5,724 $ 20,573 $ 16,466
Material sales 6,334 6,728 15,525 12,260
Collaborative research and development and other revenues 1,157 553 5,441 5,511
Total revenues 14,973 13,005 41,539 34,237
Operating costs and expenses:        
Cost of sales 1,496 2,538 5,133 4,416
Research and development 3,021 2,414 8,842 6,900
General and administrative 6,742 4,756 17,053 13,564
Lease exit and termination costs 182 227 522 359
Write-off of in-process research and development 0 0 0 480
Total operating costs and expenses 11,441 9,935 31,550 25,719
Income from operations 3,532 3,070 9,989 8,518
Other (expense) income:        
Interest expense, net (1,516) (394) (1,946) (1,755)
(Increase) decrease in contingent liabilities (1,620) (532) (4,880) 368
Other, net 505 (119) 1,128 69
Total other expense, net (2,631) (1,045) (5,698) (1,318)
Income before income taxes 901 2,025 4,291 7,200
Income tax expense (124) (60) (131) (237)
Income from continuing operations 777 1,965 4,160 6,963
Discontinued operations:        
Gain on sale of Avinza Product Line before income taxes 0 0 0 2,588
Income from discontinued operations 0 0 0 2,588
Net income including noncontrolling interests: 777 1,965 4,160 9,551
Less: Net loss attributable to noncontrolling interests (503) 0 (809) 0
Net income $ 1,280 $ 1,965 $ 4,969 $ 9,551
Basic per share amounts:        
Income from continuing operations (in usd per share) $ 0.06 $ 0.10 $ 0.24 $ 0.34
Income from discontinued operations (in usd per share) $ 0.00 $ 0.00 $ 0.00 $ 0.13
Net income (in usd per share) $ 0.06 $ 0.10 $ 0.24 $ 0.47
Diluted per share amounts:        
Income from continuing operations (in usd per share) $ 0.06 $ 0.09 $ 0.23 $ 0.33
Income from discontinued operations (in usd per share) $ 0.00 $ 0.00 $ 0.00 $ 0.13
Net income (in usd per share) $ 0.06 $ 0.09 $ 0.23 $ 0.46
Weighted average number of common shares-basic (in shares) 20,417,187 20,357,558 20,584,469 20,268,261
Weighted average number of common shares-diluted (in shares) 21,345,311 20,843,742 21,632,521 20,562,622