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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ 30,009 $ (21,623)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 975 1,064
Loss on disposal of property and equipment 0 478
Remeasurement of acquisition-related contingent consideration 3,396 1,757
Remeasurement of financing-related contingent consideration 435 357
Amortization of debt discount and debt issuance costs 3,193 2,918
Change in deferred tax and income tax deferred charge 161 1,900
Stock-based compensation expense 1,511 406
Gain on the disposition of the hospital business (45,760) 0
Loss on deconsolidation of subsidiary 0 1,750
Other adjustments 477 (995)
Net changes in assets and liabilities    
Accounts receivable 2,589 579
Inventories (1,353) 2,124
Prepaid expenses and other current assets (1,149) (1,829)
Research and development tax credit receivable 2,036 (593)
Accounts payable & other current liabilities (1,550) 3,127
Accrued expenses (6,906) (3,737)
Accrued income taxes 321 (71)
Earn-out payments for contingent consideration in excess of acquisition-date fair value (3,736) (5,790)
Royalty payments for contingent consideration payable in excess of original fair value (608) (917)
Other assets and liabilities (3,458) (3,558)
Net cash used in operating activities (19,417) (22,653)
Cash flows from investing activities:    
Purchases of property and equipment 0 (29)
Proceeds from the disposal of property and equipment 0 154
Proceeds from the disposition of the hospital business 14,500 0
Proceeds from sales of marketable securities 15,716 52,202
Purchases of marketable securities (97,878) (21,991)
Net cash (used in) provided by investing activities (67,662) 30,336
Cash flows from financing activities:    
Proceeds from the February 2020 private placement 60,639 0
Proceeds from the May 2020 public offering 116,974 0
Proceeds from stock option exercises and ESPP 1,903 92
Other financing activities, net 0 (37)
Net cash provided by financing activities 179,516 55
Effect of foreign currency exchange rate changes on cash and cash equivalents (37) 48
Net change in cash and cash equivalents 92,400 7,786
Cash and cash equivalents at January 1, 9,774 9,325
Cash and cash equivalents at June 30, 102,174 17,111
Supplemental disclosures of cash flow information:    
Interest paid 3,234 3,234
Income taxes (refund) paid, net $ (1,795) $ 140