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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Total revenues $ 26,366 $ 50,126 $ 70,345 $ 86,642
Operating costs and expenses:        
Cost of Captisol 1,669 12,361 5,386 17,060
Amortization of intangibles 8,539 8,550 17,078 17,130
Research and development 6,854 8,467 13,517 17,646
General and administrative 11,287 12,086 22,142 24,011
Total operating costs and expenses 28,349 41,464 58,123 75,847
Operating (loss) income from continuing operations (1,983) 8,662 12,222 10,795
Other income (expense):        
Gain (loss) from short-term investments 3,991 (1,909) 43,524 (14,786)
Interest income 2,320 298 3,755 432
Interest expense (284) (438) (524) (1,227)
Other (loss) income, net (873) 2,048 (270) 4,303
Total other income (expense), net 5,154 (1) 46,485 (11,278)
Income (loss) before income taxes from continuing operations 3,171 8,661 58,707 (483)
Income tax (expense) benefit (881) 3,938 (12,803) 153
Net income (loss) from continuing operations 2,290 12,599 45,904 (330)
Net loss from discontinued operations 0 (13,494) (1,665) (15,950)
Net income (loss) $ 2,290 $ (895) $ 44,239 $ (16,280)
Earnings per share        
Basic net income (loss) from continuing operations per share (in USD per share) $ 0.13 $ 0.75 $ 2.67 $ (0.02)
Basic net loss from discontinued operations per share (in USD per share) 0 (0.80) (0.10) (0.95)
Basic net income (loss) per share (in USD per share) $ 0.13 $ (0.05) $ 2.58 $ (0.97)
Shares used in basic per share calculations (in shares) 17,276 16,868 17,170 16,846
Diluted net income (loss) from continuing operations per share (in USD per share) $ 0.13 $ 0.74 $ 2.57 $ (0.02)
Diluted net loss from discontinued operations per share (in USD per share) 0 (0.79) (0.09) (0.95)
Diluted net income (loss) per share (in USD per share) $ 0.13 $ (0.05) $ 2.48 $ (0.97)
Shares used in diluted per share calculations (in shares) 17,730 17,058 17,851 16,846
Royalties        
Revenues:        
Total revenues $ 20,430 $ 17,820 $ 37,584 $ 31,252
Captisol        
Revenues:        
Total revenues 5,220 29,545 15,842 41,667
Contract revenue        
Revenues:        
Total revenues $ 716 $ 2,761 $ 16,919 $ 13,723