Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Operating activities    
Net income including noncontrolling interests: $ 4,160 $ 9,551
Less: gain from discontinued operations 0 2,588
Income from continuing operations 4,160 6,963
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operating activities:    
Non-cash change in estimated fair value of contingent liabilities 4,880 (368)
Write-off of in-process research and development 0 480
Realized gain on sale of short-term investment (1,241) 0
Gain on write-off of assets (16) 0
Depreciation and amortization 1,998 2,007
Amortization of debt discount and issuance fees 1,223 0
Stock-based compensation 8,795 4,149
Non-cash upfront fee (1,211) 0
Deferred income taxes 116 237
Accretion of note payable 225 321
Other 0 (13)
Changes in operating assets and liabilities:    
Accounts receivable (3,590) (918)
Inventory 321 86
Other current assets (615) (683)
Other long-term assets (1,245) 173
Accounts payable and accrued liabilities (3,478) (2,702)
Deferred revenue (2) (434)
Net cash provided by operating activities of continuing operations 10,320 9,298
Net cash used in operating activities of discontinued operations 0 (642)
Net cash provided by operating activities 10,320 8,656
Investing activities    
Purchase of commercial license rights 0 (3,571)
Payments to CVR holders and other contingency payments (1,936) (100)
Purchases of property and equipment 0 263
Proceeds from sale of property and equipment 125 3
Proceeds from sale of short-term investments 1,496 0
Other, net (1) (40)
Net cash used in investing activities (316) (3,971)
Financing activities    
Repayment of debt (9,364) (16,224)
Gross proceeds from issuance of 2019 Convertible Senior Notes 245,000 0
Payment of debt issuance costs (5,711) 0
Proceeds from issuance of warrants 11,637 0
Purchase of convertible bond hedge (48,143) 0
Net proceeds from stock option exercises and ESPP 4,124 2,429
Share repurchase (38,523) 0
Net cash provided by (used in) financing activities 159,020 (13,795)
Net increase (decrease) in cash and cash equivalents 169,024 (9,110)
Cash and cash equivalents at beginning of period 11,639 12,381
Cash and cash equivalents at end of period 180,663 3,271
Supplemental disclosure of cash flow information    
Interest paid 494 1,566
Taxes paid 3 5
Supplemental schedule of non-cash activity    
Liability for commercial license rights 0 1,000
Accrued inventory purchases 0 227
Unrealized gain on AFS investments $ 1,870 $ 2,201