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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Operating Activities    
Net loss $ (28,144) $ (217,201)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 26,431 102,946
Amortization of debt discount and debt issuance costs 5,680 23,764
Stock-based compensation 10,924 10,596
Provisions for inventory and other assets 3,817 5,304
Impairment of goodwill and intangible assets 17,432 189,790
Loss on disposal of equipment and early termination of leases 1,588 10,076
Income tax provision (8,424) (5,767)
Gain (loss) on extinguishment and prepayment of debt 56,113 (26,385)
Recurring fair value measurement of assets and liabilities 5,129 (1,715)
Other 0 (327)
Changes in assets and liabilities:    
Accounts receivable 19,800 (5,533)
Inventories (291) (316)
Prepaid and other assets 10,797 40,769
Income taxes receivable (8,973) 0
Accounts payable and other accrued liabilities (28,569) (15,440)
Accrued rebates, returns and discounts (29,066) (16,816)
Interest payable (7,910) (3,270)
Net cash (used in) provided by operating activities (65,572) 90,475
Investing Activities    
Cash acquired in Zyla Merger 7,585 0
Proceeds from sale of investments 6,000 0
Purchases of property and equipment (10) (1,481)
Purchases of marketable securities 0 (12,065)
Maturities of marketable securities 0 4,209
Sales of marketable securities 0 7,856
Net cash provided by (used in) investing activities 512,801 (1,481)
Financing Activities    
Payments in connection with debt extinguishment (264,731) (30,000)
Repayment of Senior Notes (171,775) (120,000)
Payment in connection with 13% Senior Secured Notes (14,750) 0
Payments on Revolver (10,000) 0
Payment of contingent consideration liability (3,016) 0
Payments on Promissory Note (3,000) 0
Payment of royalty rights obligation (500) 0
Payment of employees' tax liability related to common shares withheld (866) (570)
Convertible notes issuance costs 0 (4,268)
Fees for modification of Senior Notes 0 (3,249)
Proceeds from issuance of common stock 88 251
Net cash used in financing activities (468,550) (157,836)
Net decrease in cash and cash equivalents (21,321) (68,842)
Cash and cash equivalents at beginning of year 42,107 110,949
Cash and cash equivalents at end of period 20,786 42,107
Supplemental Disclosure of Cash Flow Information    
Net cash refund of (paid for) income taxes 1,136 (4,401)
Cash paid for interest 17,598 37,788
Capital expenditures incurred but not yet paid 0 500
Convertible debt    
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Amortization of debt discount and debt issuance costs 1,550 15,398
Gain (loss) on extinguishment and prepayment of debt 47,880 (26,385)
Senior Notes    
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Amortization of debt discount and debt issuance costs 2,699 5,783
Gain (loss) on extinguishment and prepayment of debt 8,233 0
Financing Activities    
Payments in connection with debt extinguishment $ (4,900)  
Senior Notes | 13% Senior Secured Note due 2024    
Supplemental Disclosure of Cash Flow Information    
Interest rate 13.00%  
Gralise    
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Gain (loss) on sale $ (126,655) 0
Investing Activities    
Proceeds from sale 130,261 0
NUCYNTA    
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Gain (loss) on sale 14,749 0
Investing Activities    
Proceeds from sale $ 368,965 $ 0