Business Combinations (Tables)

6 Months Ended

Jun. 30, 2020

Business Combinations [Abstract]

Schedule of business acquisition

The acquisition date fair value of the consideration transferred in the acquisition consisted of the following:

(in thousands)	Amount
Issuance of common stock	$	398,110
Fair value of replacement options	7,125
Fair value of bridge loan settled at close	10,074
Fair value of contingent considerations (CVRs)	3,700
Total consideration transferred(1)	$	419,009

(1)Non-cash investing and financing activities in the condensed consolidated statements of cash flows

Schedule of fair value disclosure of asset and liability

The preliminary fair value of the assets acquired and liabilities assumed were as follows:

(in thousands)	Amount
Cash and cash equivalents	$	15,421
Accounts receivable	5,787
Inventory	915
Other current assets	3,250
Property, plant and equipment	14,972
Identifiable intangible assets (weighted average useful life):
Currently marketed product (15 years)	142,100
Licenses (11.5 years)	87,500
Developed technology (9 years)	3,000
IPR&D	150,900
Other long-term assets	37,631
Accounts payable	(1,616)
Accrued expenses and other liabilities	(8,207)
Other long-term liabilities	(30,778)
Long-term debt and other borrowings	(40,200)
Deferred tax liabilities	(3,717)
Goodwill	42,051
Total consideration transferred	$	419,009

Schedule pro forma financial information

The following unaudited pro forma financial information presents the Company’s results as if the Progenics acquisition had occurred on January 1, 2019:

	Six Months Ended June 30, 2020		Six Months Ended June 30, 2019
(in thousands)	Amount		Amount
Pro forma revenue	$	167,619	$	186,462
Pro forma net loss	18,115		42,901