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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows From Operating Activities      
Net (loss) income $ (18,522) $ 18,779 $ (47,896)
Adjustments to reconcile net (loss) income to net cash and cash equivalents provided by (used in) operating activities:      
Stock-based compensation 29,344 20,652 14,599
Deferred taxes (21,913) (11,740) (15,253)
Depreciation and amortization 67,731 59,791 59,653
Unrealized gain on investment in equity securities (6,307) 0 0
Acquired in-process research and development ("IPR&D") 0 0 1,151
Non-cash operating lease expense 1,526 1,269 0
Non-cash interest 642 3,922 3,961
Contingent consideration fair value adjustment (619) 1,426 4,058
Gain on sale of building (5,347) 0 0
Loss on extinguishment of debt 7,468 0 0
Amortization of inventory step up 13,599 0 0
Asset impairment charges 7,600 0 574
Gain on sale of ANDAs 0 0 (750)
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable, net (21,087) 3,359 (36,912)
Inventories (21,287) (5,841) (23,626)
Prepaid expenses and other assets 2,129 (9,015) (798)
Accounts payable 479 7,552 5,038
Accrued royalties 6,350 6,969 3,082
Income taxes (1,415) 11,991 (160)
Accrued government rebates 6,160 1,296 5,380
Returned goods reserve 9,102 (3,722) (2,399)
Accrued expenses, accrued compensation, and other 8,384 12,271 (905)
Net Cash and Cash Equivalents Provided by (Used in) Operating Activities 64,017 118,959 (31,203)
Cash Flows From Investing Activities      
Acquisition of product rights, intangible assets, and other related assets (717) (9,643) (7,579)
Acquisition of property and equipment, net (16,236) (8,868) (8,876)
Proceeds from the sale of long-lived assets 0 0 750
Proceeds from the sale of building 13,514 0 0
Net Cash and Cash Equivalents Used in Investing Activities (404,719) (18,511) (15,738)
Cash Flows From Financing Activities      
Proceeds from convertible notes 316,250 0 0
Proceeds from term loan 325,000 0 0
Purchase of capped call transaction (40,575) 0 0
Proceeds from public offering 0 80,555 0
Payments on contingent consideration (12,500) (12,500) 0
Principal payments on borrowings under credit agreements (3,531) (3,000) (3,000)
Debt issuance costs (17,353) 0 0
Repayment on borrowings under credit agreement (292,500) 0 0
Payment of accrued licensor payment (3,750) 0 0
Series A convertible preferred stock dividends paid (1,625) (1,625) (1,625)
Proceeds from stock option exercises and ESPP purchases 6,488 8,996 1,458
Treasury stock purchases for restricted stock vests (10,959) (4,987) (1,959)
Net Cash and Cash Equivalents Provided by (Used in) Financing Activities 264,945 67,439 (5,126)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (470) 0 0
Net Change in Cash, Cash Equivalents, and Restricted Cash (76,227) 167,887 (52,067)
Cash and cash equivalents, beginning of year 221,121 53,234 105,301
Cash, cash equivalents and restricted cash, end of year 144,894 221,121 53,234
Reconciliation of cash, cash equivalents, and restricted cash, beginning of year      
Cash and cash equivalents 144,861 221,121 48,228
Restricted cash 33 0 5,006
Total cash, cash equivalents, and restricted cash 144,894 221,121 53,234
Supplemental disclosure for cash flow information:      
Cash paid for interest, net of amounts capitalized 24,379 31,431 21,477
Cash paid for income taxes 19,061 1,228 288
Right-of-use assets obtained in exchange for lease obligations 0 4,715 0
Supplemental non-cash investing and financing activities:      
Purchase consideration for Alimera Acquisition (8,322) 0 0
Acquisition of product rights included in accounts payable 0 0 1,000
Property and equipment purchased and included in accounts payable 529 328 452
Alimera      
Cash Flows From Investing Activities      
Acquisition of Novitium Pharma LLC, net of cash acquired (401,280) 0 0
Novitium Pharma LLC      
Cash Flows From Investing Activities      
Acquisition of Novitium Pharma LLC, net of cash acquired $ 0 $ 0 $ (33)