XML 13 R7.htm IDEA: XBRL DOCUMENT v3.24.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income $ 1,847 $ 36,145
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income taxes (12,009) 533
Amortization of capitalized fees and depreciation of property and equipment 6,986 6,954
Amortization of acquired intangible assets 12,880 8,763
Inventory fair value step-up adjustment included in cost of products sold 10,306 13,750
Stock-based compensation 3,098 3,118
Amortization of debt discount and issuance costs 1,048 1,032
Changes in fair values of equity method investments, net 24,766 4,094
Changes in fair values of equity and long-term investments, net 43,891 2,247
Accrued interest income added to long-term investments 0 (1,482)
Other non-cash items (153) 1,061
Changes in operating assets and liabilities:    
Accounts receivable (12,328) (5,874)
Receivables from collaboration arrangement 2,423 (11,049)
Inventory (6,233) (4,699)
Prepaid expenses 13,146 9,024
Other assets 1,604 1,534
Accounts payable (4,678) 1,653
Accrued personnel-related expenses and other accrued liabilities (5,950) (3,260)
Accrued interest payable 0 (937)
Income tax payable (543) 99
Deferred revenue (422) 1,160
Net cash provided by operating activities 80,765 63,866
Cash flows from investing activities    
Purchases of trading securities (43,136) 0
Purchases of equity and long-term investments 0 (35,689)
Purchases of equity investments managed by ISP Fund LP (30,892) (17,784)
Sales of equity investments managed by ISP Fund LP 5,976 2,482
Purchase and sales of other investments managed by ISP Fund LP, net 24,916 15,302
Purchases of property and equipment 0 (33)
Sale of property and equipment 98 0
Net cash used in investing activities (43,038) (35,722)
Cash flows from financing activities    
Repurchase of common stock (14,777) (50,021)
Repurchase of shares to satisfy tax withholding (105) (54)
Proceeds from issuances of common stock, net 645 111
Payment for repurchase of convertible subordinated notes due 2023 0 (96,204)
Net cash used in financing activities (14,237) (146,168)
Net increase (decrease) in cash and cash equivalents 23,490 (118,024)
Cash and cash equivalents at beginning of period 193,513 291,049
Cash and cash equivalents at end of period 217,003 173,025
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 5,179 6,202
Supplemental Disclosure of Non-cash Investing and Financing Activities:    
Accrued interest income converted to long-term investments $ 799 $ 0