Ferring Asset Purchase Agreement and Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2017

Discontinued Operations and Disposal Groups [Abstract]

Total Gain on Sale of the Purchased Assets to Ferring

The total gain on sale of the Purchased Assets to Ferring consisted of the following:

Upfront payment received	$	11,500
Transition services payment earned in Q2 and Q3 2017	500
Payment received for inventory	709
Total proceeds from sale	$	12,709
Carrying value of assets sold in sale	(1,578		)
Liabilities transferred upon sale	1,186
Total gain on sale of Purchased Assets	$	12,317

Carrying Amounts of Assets and Liabilities and Operating Results of Discontinued Operations

The carrying amounts of the assets and liabilities of the Company’s discontinued operations as of September 30, 2017 and December 31, 2016 are as follows (in thousands):

	September 30, 2017		December 31, 2016
Accounts receivable	$	9	$	530
Inventories	—		764
Prepaid expenses and other current assets	—		76
Current assets of discontinued operations	9		1,370
Property and equipment, net	—		842
Total assets of discontinued operations	$	9	$	2,212
Accounts payable	25		274
Accrued expenses	76		1,834
Total liabilities of discontinued operations	$	101	$	2,108

The operating results of the Company’s discontinued operations are as follows (in thousands):

	Three Months Ended   September 30,						Nine Months Ended   September 30,
	2017			2016			2017			2016
Product sales	$	—		$	172		$	143		$	541
Royalty revenue	—			195			368			866
License fee revenue	—			3,950			—			4,000
Cost of goods sold	—			(110		)	(74		)	(436		)
Cost of Sandoz rights	—			(3,380		)	—			(3,380		)
Operating expenses	(73		)	(504		)	(821		)	(1,363		)
Other expense	—			(17		)	(16		)	(17		)
Gain on sale	250			—			12,317			—
Income (loss) from discontinued operations	$	177		$	306		$	11,917		$	211