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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities:      
Net (loss) income $ (15,305) $ (33,867) $ 5,285
Adjustments to reconcile net (loss) income to net cash flows provided by (used in) operating activities      
Depreciation 1,846 740 693
Accretion of debt discount and loan costs 11,508 4,138 2,392
Amortization of intangible assets 6,981 5,157 5,425
Provision for (recovery from) inventory obsolescence 197 (56) 243
Impairment loss on equipment 0 78 0
Stock-based compensation expense 5,416 5,941 14,801
Deferred income taxes 0 40 (15,972)
Bargain purchase gain 0 0 (27,336)
Changes in assets and liabilities, net of effect of acquisition:      
Accounts receivable (25,163) (4,640) (5,884)
Inventories (6,102) 741 2,448
Prepaid expenses and other assets (581) 422 526
Accounts payable and accrued expenses 32,275 (2,807) 6,644
Deferred revenue 0 0 (21,716)
Net cash flows provided by (used in) operating activities 11,072 (24,113) (32,451)
Investing activities:      
Product acquisitions (30,685) (1,951) (5,853)
Acquisitions of equipment (79) (112) (11)
Net cash flows used in investing activities (30,764) (2,063) (5,864)
Financing activities:      
Proceeds from exercise of stock options 2,321 670 439
Proceeds from issuance of common stock, less underwriters discount 48,000 0 0
Proceeds from issuance of Series B preferred stock 0 50,000 0
Payment on note payable (67,346) 0 (30,000)
Proceeds from notes payable 59,987 0 60,000
Equity finance costs (410) (1,417) 0
Payment of deferred financing fees 0 (450) (2,948)
Loss on refinancing of former debt (2,794) 0 0
Net cash flows provided by financing activities 39,758 48,803 27,491
Net change in cash and cash equivalents 20,066 22,627 (10,824)
Cash and cash equivalents at beginning of year 43,822 21,195 32,019
Cash and cash equivalents at end of year 63,888 43,822 21,195
Cash paid for interest 6,809 6,053 5,285
Non-cash Financing and Investing Activities:      
Adjustments to additional paid in capital dividends in excess of retained earnings $ 12,500 $ 12,500  
Common stock issuance upon retirement, shares 2,119,925 2,119,925  
Common stock issuance upon retirement $ 5,300 $ 5,300  
Accrued financing expenses   600  
Fair value of bargain purchase price of BELBUCA acquisition   27,300 27,300
Fair value of warrants, in connection with CRG term loan   $ 6,000 $ 6,000
Series B Non-Voting Convertible Preferred Stock      
Non-cash Financing and Investing Activities:      
Adjustments to additional paid in capital dividends in excess of retained earnings 12,500    
Accrued financing expenses $ 600