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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of stock-based compensation expense The following table reflects stock‑based compensation expense recognized in the Company’s Consolidated Statements of Comprehensive Income for the years ended December 31, 2021 and 2020 (in thousands):
Years Ended December 31,
 20212020
Cost of sales (excluding amortization of intangible assets)$— $92 
Research and development expenses— 268 
Selling, general and administrative expenses3,545 9,565 
Restructuring charges— 999 
Total$3,545 $10,924 
Schedule of assumptions used to calculate the fair value of option grants The following table reflects assumptions used to calculate the fair value of option grants for the year ended December 31, 2021:
 20212020
Risk-free interest rate1.25%
0.20% - 0.35%
Dividend yield—%—%
Expected option term (in years)6.0
3.4 - 5.0
Expected stock price volatility284%80%
Schedule of assumptions used to calculate the fair value of stock purchase rights granted under the ESPP The following table reflects assumptions used to calculate the fair value of stock purchase rights granted under the ESPP for the year ended December 31, 2020:
 2020
Employee Stock Purchase Plan 
Risk-free interest rate
0.09% - 0.18%
Dividend yield—%
Expected term (in years)0.5
Expected stock price volatility
85.8% - 142.3%
Summary of the options activity
The following tables reflects activity for the year ended December 31, 2021 under the 2004 Plan (dollar amounts in thousands):
 
 SharesWeighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Term (years)
Aggregate
Intrinsic Value
(in thousands)
Options outstanding as of December 31, 202030,875 $25.71 
Options granted— — 
Options exercised— — 
Options forfeited — — 
Options expired(10,875)20.52 
Options outstanding as of December 31, 202120,000 $28.54 1.4$— 
Options vested and expected as of vest at December 31, 202120,000 $28.54 1.4$— 
Options exercisable as of December 31, 202120,000 $28.54 1.4$— 
The following table reflects option activity for the year ended December 31, 2021 under the 2014 Amended Plan (dollar amounts in thousands):
 Number of
Shares
Weighted
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Term (years)
Aggregate
Intrinsic Value
(in thousands)
Options outstanding as of December 31, 2020232,956 $36.18 
Options granted2,100,000 1.31 
Options exercised— — 
Options forfeited (259)25.73 
Options expired(128,856)44.84 
Options outstanding as of December 31, 20212,203,841 $2.45 9.8$1,827 
Options vested and expected to vest as of December 31, 20212,203,841 $2.45 9.8$1,827 
Options exercisable as of December 31, 2021103,841 $25.46 6.5$— 
The following table reflects option activity for the year ended December 31, 2021 under the 2019 Zyla Plan (dollar amounts in thousands):
SharesWeighted
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Term (years)
Aggregate
Intrinsic Value
(in thousands)
Options outstanding as of December 31, 2020985,944 $2.93 
Options granted— — 
Options exercised(72,750)2.40 
Options forfeited(402,296)2.73
Options expired(476,340)2.73
Options outstanding as of December 31, 202134,558 3.237.0— 
Options vested and expected to vest as of December 31, 202134,558 3.237.0— 
Options exercisable as of December 31, 202125,029 3.236.654 
Schedule of restricted stock units and performance-based restricted stock units activity The following table reflects RSU activity for the year ended December 31, 2021 under the 2014 Amended Plan (dollar amounts in thousands): 
 Number of
Shares
Weighted
Average
Grant Date
Fair 
Value
Per Share
Weighted
Average
Remaining
Contractual
Term
(in years)
Non-vested performance-based restricted stock units as of December 31, 20201,374,358 $5.59  
Granted2,230,065 2.94  
Vested(707,515)5.50  
Forfeited(275,305)5.24  
Non-vested restricted stock units as of December 31, 20212,621,603 $3.40 1.1
The following table reflects PSU activity for the year ended December 31, 2021 under the 2014 Amended Plan (dollar amounts in thousands):
 Number of
Shares
Weighted
Average
Grant Date
Fair 
Value
Per Share
Weighted
Average
Remaining
Contractual
Term
(in years)
Aggregate
Intrinsic Value
(in thousands)
Non-vested performance-based restricted stock units as of December 31, 2020226,461 $32.93 
Granted— 
Vested(19,054)41.37 
Forfeited(12,181)41.37
Non-vested performance-based restricted stock units as of December 31, 2021195,226 $31.58 0.1$426