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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
6 Months Ended
Jun. 30, 2022
USD ($)
Jun. 30, 2021
USD ($)
Cash flows from operating activities:    
Net (loss) income $ (16,280) $ 48,831
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Change in estimated fair value of contingent liabilities (1,266) (33,502)
Depreciation and amortization of intangible assets 26,921 25,179
Amortization of premium on investments, net 44 109
Amortization of debt discount and issuance fees 501 9,073
Amortization of commercial license rights (190) 206
Loss (gain) on debt extinguishment (3,326) 7,175
Share-based compensation 18,543 18,621
Deferred income taxes (12,925) (9,766)
Loss (gain) from short-term investments 14,786 (6,197)
Lease amortization expense 3,054 2,113
Other (67) 595
Changes in operating assets and liabilities:    
Accounts receivable, net 23,208 (2,659)
Inventory 9,740 (2,326)
Accounts payable and accrued liabilities (4,357) (4,340)
Income tax receivable and payable 9,011 (2,477)
Deferred revenue (2,254) (14,605)
Other assets and liabilities (1,254) (4,899)
Net cash provided by operating activities 63,889 31,131
Cash flows from investing activities:    
Purchase of short-term investments (38,472) (96,136)
Proceeds from sale of short-term investments 177,554 150,648
Proceeds from maturity of short-term investments 24,830 34,600
Cash paid for equity method investment (750) 0
Purchase of property and equipment (11,463) (4,794)
Other 33 135
Net cash provided by investing activities 151,732 84,453
Cash flows from financing activities:    
Repurchase of 2023 Notes (223,303) (153,381)
Payments under financing lease obligations (27) (9,188)
Proceeds from convertible bond hedge settlement 0 16,855
Payments to convertible bond holders for warrant purchases 0 (16,459)
Net proceeds from stock option exercises and ESPP 1,011 27,584
Taxes paid related to net share settlement of equity awards (5,922) (5,901)
Payments to CVR Holders (1,416) (1,050)
Payments for OmniAb transaction costs (206) 0
Net cash used in financing activities (229,863) (141,540)
Net decrease in cash, cash equivalents and restricted cash (14,242) (25,956)
Cash, cash equivalents and restricted cash at beginning of period 19,522 47,963
Cash, cash equivalents and restricted cash at end of period 5,280 22,007
Supplemental disclosure of cash flow information:    
Interest paid 1,038 1,737
Taxes paid 20 3,552
Restricted cash in other current assets 0 144
Supplemental schedule of non-cash activity:    
Accrued fixed asset purchases 3,800 359
Accrued inventory purchases 9,161 12,695
Unrealized loss on AFS investments $ (149) $ (60)