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Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues      
Revenues $ 470,347 $ 154,567 $ 35,233
Operating Expenses      
Cost of revenues 51,833 35,714 8,241
Research and development 181,437 166,294 124,185
General and administrative 79,333 63,817 51,815
Credit losses (recoveries) and other (2,236) 7,975 (10)
Total operating expenses 310,367 273,800 184,231
Income (loss) from operations 159,980 (119,233) (148,998)
Other Income (Expense)      
Interest income from licensing 719 4,271 2,951
Investment income 6,825 9,723 48,559
Interest expense (26,277) (771)  
Total other income (expense) (18,733) 13,223 51,510
Income (loss) before income taxes 141,247 (106,010) (97,488)
Income Tax Benefit (Expense) (13,407) (5,240) 2,755
Net income (loss) 127,840 (111,250) (94,733)
Other Comprehensive Income (Loss)      
Unrealized gain (loss) on available-for-sale securities, net (2,209) (565) 885
Total other comprehensive income (loss) (2,209) (565) 885
Comprehensive income (loss) $ 125,631 $ (111,815) $ (93,848)
Net income (loss) per share:      
Basic $ 3.01 $ (2.98) $ (2.58)
Diluted $ 2.91 $ (2.98) $ (2.58)
Weighted-average common shares outstanding:      
Basic 42,438 37,281 36,690
Diluted 43,913 37,281 36,690
License and royalty [Member]      
Revenues      
Revenues $ 470,347 $ 154,567 $ 35,233