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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Operating Activities    
Net (loss) income $ (331,942) $ 109,625
Adjustments to reconcile net (loss) income to net cash from operating activities:    
Depreciation and amortization 28,229 33,396
Amortization of debt issuance costs and Royalty Rights 455 304
Loss on impairment of intangible assets 279,639 0
Gain on extinguishment of debt 0 (1,046)
Recurring fair value measurements of assets and liabilities (25,482) 18,939
Debt-related expenses 9,918 0
Stock-based compensation 9,158 7,504
Provisions for inventory and other assets 3,288 3,265
Deferred income taxes 76,201 (80,375)
Changes in assets and liabilities, net of acquisition:    
Accounts receivable 48,669 (996)
Inventories (4,973) (6,593)
Prepaid and other assets (1,169) 8,019
Accounts payable and other accrued liabilities (29,348) (10,113)
Accrued rebates, returns and discounts (12,313) (3,236)
Interest payable (726) (95)
Net cash provided by operating activities 49,604 78,598
Investing Activities    
Purchases of property and equipment (628) (274)
Net cash acquired in Spectrum Merger 1,950 0
Proceeds from the sale of investments 2,194 0
Net cash provided by (used in) investing activities 3,097 (42,673)
Financing Activities    
Proceeds from issuance of 2027 Convertible Notes 0 70,000
Payments in connection with 2027 Convertible Notes (10,500) 0
Payment of direct transaction costs related to convertible debt inducement (1,119) 0
Payment in connection with 2024 Senior Notes 0 (70,750)
Payment of debt issuance costs 0 (4,084)
Payment of contingent consideration (24,194) (7,845)
Payment of Royalty Rights (459) (1,297)
Proceeds from issuance of common stock 0 7,020
Payments related to the vesting and settlement of equity awards, net (7,898) (838)
Other financing activities (31) 0
Net cash used in financing activities (44,201) (7,794)
Net increase in cash and cash equivalents 8,500 28,131
Cash and cash equivalents at beginning of year 64,941 36,810
Cash and cash equivalents at end of year 73,441 64,941
Supplemental Disclosure of Cash Flow Information    
Net cash paid (refunded) for income taxes 4,031 (6,913)
Cash paid for interest 3,651 7,752
Otrexup    
Investing Activities    
Purchase of Otrexup and Sympazan 0 (27,027)
Sympazan    
Investing Activities    
Purchase of Otrexup and Sympazan $ (419) $ (15,372)