Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2022

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 as of June 30, 2022 and December 31, 2021:

In thousands	June 30, 2022			December 31, 2021
Gross trade accounts receivable	$	189,782		$	262,948
Trade allowances		(30,986	)		(86,636	)
Chargebacks		(13,909	)		(11,714	)
Allowance for doubtful accounts		(945	)		(945	)
Accounts receivable, net	$	143,942		$	163,653

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

The calculation of net (loss) income and the number of shares used to compute basic and diluted net (loss) earnings per share for the three and six months ended June 30, 2022 and 2021 are as follows:

	For the Three Months Ended June 30,					For the Six Months Ended June 30,
In thousands	2022			2021		2022			2021
Net (loss) income—basic and diluted	$	(69,956	)	$	7,808	$	(101,519	)	$	6,182
Weighted average shares outstanding—basic		398,187			395,899		397,997			395,272
Effect of dilutive securities:
Stock options		—			4,212		—			4,993
Restricted stock and restricted stock units		—			1,656		—			2,513
Weighted average shares outstanding—diluted		398,187			401,767		397,997			402,778
Net (loss) earnings per share—basic	$	(0.18	)	$	0.02	$	(0.26	)	$	0.02
Net (loss) earnings per share—diluted	$	(0.18	)	$	0.02	$	(0.26	)	$	0.02

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

For the three and six months ended June 30, 2022 and 2021, the following potentially dilutive securities were not included in the computation of net (loss) earnings per share because the effect would be anti-dilutive or because performance criteria were not yet met for awards contingent upon such measures:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
In thousands	2022		2021		2022		2021
Stock options		19,995		10,711		19,995		10,661
Restricted stock and restricted stock units		15,024		5,772		15,024		5,242
Laxdale milestone shares		6,667		—		6,667		—

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 June 30, 2022 and December 31, 2021 and indicate the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value:

	June 30, 2022
In thousands	Total		Level 1		Level 2		Level 3
Asset:
Money Market Fund	$	123,455	$	123,455	$	—	$	—
U.S. Treasury Shares		3,112		3,112		—		—
Corporate Bonds		47,387		—		47,387		—
Commercial Paper		26,148		—		26,148		—
Repo Securities		4,750		—		4,750		—
Asset Backed Securities		4,498		—		4,498		—
Certificate of Deposit		22,119		—		22,119		—
Non-US Government		3,445		—		3,445		—
Total	$	234,914	$	126,567	$	108,347	$	—

	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	$	—

Summary of Restructuring Charges

The following table sets forth the components of the Company's restructuring charges for the three and six months ended June 30, 2022 and 2021:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
In thousands	2022		2021		2022		2021
Employee restructuring separation charges	$	9,123	$	—	$	9,123	$	—
Vendor contract charges		1,090		—		1,090		—
Total restructuring expense		10,213		—		10,213		—
Restructuring inventory		15,000		—		15,000		—
Total restructuring charge	$	25,213	$	—	$	25,213	$	—

Change in Restructuring Liability Associated with the Plans

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

In thousands	Restructuring Liability
Balance at December 31, 2021	$	1,186
Costs incurred		25,213
Payments		(3,938	)
Other (1)		454
Balance at June 30, 2022	$	22,915

(1) - Represents the reversal of expense associated with unvested equity awards