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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net income $ 9,200 $ 10,914
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property and equipment 694 672
Stock-based compensation 7,013 6,383
Amortization of premiums and accretion of discounts on marketable securities (420) (1,848)
Gain on sale of marketable securities (229) 0
Intangible asset amortization 739 759
Deferred income taxes 2,019 0
Other non-cash adjustments, net 695 740
Changes in operating assets and liabilities:    
Accounts receivable 1,672 4,851
Prepaid expenses and other assets (591) 681
Inventory 10 (191)
Accounts payable and other liabilities 883 5,159
Product revenue allowances 1,414 2,038
Net cash provided by operating activities 23,099 30,158
Cash flows from investing activities    
Purchases of property and equipment (583) (657)
Purchases of marketable securities (151,124) (191,293)
Sales and maturities of marketable securities 174,739 143,745
Net cash provided by (used in) investing activities 23,032 (48,205)
Cash flows from financing activities    
Proceeds from the exercise of stock options 4,079 3,590
Net cash provided by financing activities 4,079 3,590
Effect of exchange rate changes on cash, cash equivalents and restricted cash 23 (5)
Net change in cash, cash equivalents and restricted cash 50,233 (14,462)
Cash, cash equivalents and restricted cash    
Beginning of period 45,650 61,749
End of period $ 95,883 $ 47,287