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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ 44,239 $ (16,280)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Change in estimated fair value of contingent liabilities 108 (1,266)
Depreciation and amortization of intangible assets 18,994 26,921
Amortization of premium on investments, net (659) 44
Amortization of debt discount and issuance fees 159 501
Amortization of commercial license rights (814) (190)
Gain on debt extinguishment 0 (3,326)
Share-based compensation 13,138 18,543
Deferred income taxes (1,246) (12,925)
(Gain) loss from short-term investments (43,524) 14,786
Lease amortization expense 897 3,054
Other 153 (67)
Changes in operating assets and liabilities:    
Accounts receivable, net 2,476 23,208
Inventory (10,966) 9,740
Accounts payable and accrued liabilities (4,960) (4,357)
Income tax receivable and payable 16,001 9,011
Other assets and liabilities (130) (3,508)
Net cash provided by operating activities 33,866 63,889
Cash flows from investing activities:    
Purchase of short-term investments (88,989) (38,472)
Proceeds from sale of short-term investments 88,832 177,554
Proceeds from maturity of short-term investments 20,666 24,830
Cash paid for equity method investment 0 (750)
Purchase of property and equipment (2,617) (11,463)
Proceeds from commercial license rights 213 0
Other 0 33
Net cash provided by investing activities 18,105 151,732
Cash flows from financing activities:    
Repayment at maturity/repurchase of 2023 Notes (76,854) (223,303)
Net proceeds from stock option exercises and ESPP 12,535 1,011
Taxes paid related to net share settlement of equity awards (4,187) (5,922)
Payments to CVR Holders 0 (1,416)
Payments for OmniAb transaction costs 0 (206)
Other (26) (27)
Net cash used in financing activities (68,532) (229,863)
Net decrease in cash, cash equivalents and restricted cash (16,561) (14,242)
Cash, cash equivalents and restricted cash at beginning of period 45,006 19,522
Cash, cash equivalents and restricted cash at end of period 28,445 5,280
Supplemental disclosure of cash flow information:    
Interest paid 288 1,038
Taxes paid 0 20
Supplemental schedule of non-cash activity:    
Accrued fixed asset purchases 532 3,800
Accrued inventory purchases 2,646 9,161
Unrealized gain (loss) on AFS investments, net of tax $ 17 $ (149)