XML 52 R24.htm IDEA: XBRL DOCUMENT v3.22.0.1
Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Summary of Impact of Accounts Receivable Reserves on Gross Trade Accounts Receivable Balances

The following table summarizes the impact of accounts receivable reserves on the gross trade accounts receivable balances at December 31, 2021 and 2020:

 

In thousands

 

December 31, 2021

 

 

December 31, 2020

 

Gross trade accounts receivable

 

$

262,948

 

 

$

203,875

 

Trade allowances

 

 

(86,636

)

 

 

(36,242

)

Chargebacks

 

$

(11,714

)

 

 

(12,114

)

Allowance for doubtful accounts

 

 

(945

)

 

 

(945

)

Accounts receivable, net

 

$

163,653

 

 

$

154,574

 

Calculation of Net Income (Loss) and Number of Shares Used to Compute Basic and Diluted Net Earnings (Loss) per Share

The calculation of net income (loss) and the number of shares used to compute basic and diluted net earnings (loss) per share for the years ended December 31, 2021, 2020, and 2019 are as follows:

 

In thousands

 

2021

 

 

2020

 

 

2019

 

Net income (loss)—basic and diluted

 

$

7,729

 

 

$

(18,000

)

 

$

(22,645

)

Weighted average shares outstanding—basic

 

 

395,992

 

 

 

381,759

 

 

 

342,538

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

Stock options

 

 

4,420

 

 

 

—

 

 

 

—

 

Restricted stock and restricted stock units

 

 

2,068

 

 

 

—

 

 

 

—

 

Weighted average shares outstanding—diluted

 

 

402,480

 

 

 

381,759

 

 

 

342,538

 

Net earnings (loss) per share—basic

 

$

0.02

 

 

$

(0.05

)

 

$

(0.07

)

Net earnings (loss) per share—diluted

 

$

0.02

 

 

$

(0.05

)

 

$

(0.07

)

Anti-Dilutive Securities Not Included in the Computation of Net Earnings (Loss) per Share

For the years ended December 31, 2021, 2020 and 2019, the following potentially dilutive securities were not included in the computation of net earnings (loss) per share because the effect would be anti-dilutive or because performance criteria were not yet met for awards contingent upon such measures:

 

In thousands

 

2021

 

 

2020

 

 

2019

 

Stock options

 

 

9,926

 

 

 

16,664

 

 

 

15,619

 

Restricted stock and restricted stock units

 

 

3,764

 

 

 

7,710

 

 

 

6,921

 

Laxdale milestone shares

 

 

1,984

 

 

 

—

 

 

 

—

 

Preferred stock (if converted)

 

 

—

 

 

 

—

 

 

 

28,932

 

Estimated Fair Value of Assets and Liability

The following tables present information about the estimated fair value of the Company’s assets and liabilities as of December 31, 2021 and 2020 and indicate the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value:

 

 

 

December 31, 2021

 

In thousands

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Asset:

 

 

 

 

 

 

 

 

 

 

 

 

Money Market Fund

 

$

95,063

 

 

$

95,063

 

 

$

—

 

 

$

—

 

U.S. Treasury Shares

 

 

23,219

 

 

 

23,219

 

 

 

—

 

 

 

—

 

Corporate Bonds

 

 

83,587

 

 

 

—

 

 

 

83,587

 

 

 

—

 

Commercial Paper

 

 

121,773

 

 

 

—

 

 

 

121,773

 

 

 

—

 

Repo Securities

 

 

8,000

 

 

 

—

 

 

 

8,000

 

 

 

—

 

Asset Backed Securities

 

 

8,816

 

 

 

—

 

 

 

8,816

 

 

 

—

 

Certificate of Deposit

 

 

21,553

 

 

 

—

 

 

 

21,553

 

 

 

—

 

Non-US Government

 

 

12,900

 

 

 

—

 

 

 

12,900

 

 

 

—

 

Total

 

$

374,911

 

 

$

118,282

 

 

$

256,629

 

 

$

—

 

 

 

 

December 31, 2020

 

In thousands

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Asset:

 

 

 

 

 

 

 

 

 

 

 

 

Money Market Fund

 

$

88,266

 

 

$

88,266

 

 

$

—

 

 

$

—

 

U.S. Treasury Shares

 

 

48,356

 

 

 

48,356

 

 

 

—

 

 

 

—

 

Corporate Bonds

 

 

179,864

 

 

 

—

 

 

 

179,864

 

 

 

—

 

Commercial Paper

 

 

106,650

 

 

 

—

 

 

 

106,650

 

 

 

—

 

Agency Securities

 

 

20,782

 

 

 

—

 

 

 

20,782

 

 

 

—

 

Repo Securities

 

 

10,000

 

 

 

—

 

 

 

10,000

 

 

 

—

 

Asset Backed Securities

 

 

8,599

 

 

 

—

 

 

 

8,599

 

 

 

—

 

Certificate of Deposit

 

 

6,125

 

 

 

—

 

 

 

6,125

 

 

 

—

 

Non-US Government

 

 

5,240

 

 

 

—

 

 

 

5,240

 

 

 

—

 

Total

 

$

473,882

 

 

$

136,622

 

 

$

337,260

 

 

$

—

 

Change in Restructuring Liability Associated with the Plan

The following table shows the change in restructuring liability, associated with the Plan, which is included within accrued expenses and other current liabilities:

 

In thousands

 

Restructuring Liability

 

Balance at December 31, 2020

 

$

—

 

   Costs incurred

 

 

14,115

 

   Payments

 

 

(12,225

)

   Adjustments

 

 

(398

)

   Other (1)

 

 

(306

)

Balance at December 31, 2021

 

$

1,186

 

(1) - Represents the acceleration of expense associated with the vesting of certain equity awards.