ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Contingent Consideration for Flexion Acquisition

The total consideration for the Flexion Acquisition was $578.8 million, which consisted of the following (in thousands, except per share amounts):

Fair Value of Purchase Price Consideration	Amount
Fair value of purchase consideration paid at closing:
Cash consideration for all outstanding shares of Flexion’s common stock (50,392 shares of common stock acquired at $8.50 per share)	$	428,333
Cash consideration paid to settle RSUs and in-the-money options	20,153
Cash paid to settle Flexion debt	85,118
	533,604
Fair value of contingent value rights (CVRs)	45,241
Total purchase consideration	$	578,845

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following tables set forth the preliminary allocation of the Flexion Acquisition purchase price to the estimated fair value of the net assets acquired at the acquisition date (in thousands):

	Amounts Recognized at the Acquisition Date
ASSETS ACQUIRED
Cash and cash equivalents	$	113,562
Short-term available-for-sale investments	11,153
Accounts receivable	32,838
Inventories	29,667
Prepaid expenses and other assets	4,852
Fixed assets	23,307
Deferred tax assets	58,015
Right-of-use assets	6,585
Identifiable intangible assets	480,000
In-process research and development (IPR&D)	61,000
Total assets	$	820,979
LIABILITIES ASSUMED
Accounts payable	$	9,794
Accrued expenses	22,746
Deferred revenue	10,000
Lease liabilities	6,585
Other liabilities	1,187
Long-term debt	201,450
Total liabilities	251,762
Total identifiable net assets acquired	569,217
Goodwill	9,628
Total consideration transferred	$	578,845

Schedule of Pro Forma Information

Flexion results from the acquisition date of November 19, 2021 through December 31, 2021, which are included in the consolidated statements of operations, are as follows (in thousands):

Classification in Consolidated Statements of Operations	Acquisition Date Through December 31, 2021
Total revenues	$	12,683
Net loss	$	(25,010)

This pro forma information does not purport to represent what the Company’s actual results would have been if the acquisition had occurred as of January 1, 2020, and is not indicative of what such results would be expected for any future period (in thousands, except per share amounts):

	Year Ended December 31,
	2021		2020
Total revenues	$	630,942	$	515,199
Net loss	(67,264)		(19,711)
Pro forma basic and diluted net loss per share	$	(1.52)	$	(0.46)