XML 38 R24.htm IDEA: XBRL DOCUMENT v3.20.4
Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2020
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, 2020 and 2019:

 

In thousands

 

December 31, 2020

 

 

December 31, 2019

 

Gross trade accounts receivable

 

$

203,875

 

 

$

149,567

 

Trade allowances

 

 

(36,242

)

 

 

(29,261

)

Chargebacks

 

$

(12,114

)

 

 

(3,876

)

Allowance for doubtful accounts

 

 

(945

)

 

 

 

Accounts receivable, net

 

$

154,574

 

 

$

116,430

 

Calculation of Net Loss and Number of Shares Used to Compute Basic and Diluted Net Loss per Share

The calculation of net loss and the number of shares used to compute basic and diluted net loss per share for the years ended December 31, 2020, 2019, and 2018 are as follows:

 

In thousands

 

2020

 

 

2019

 

 

2018

 

Net loss—basic and diluted

 

$

(18,000

)

 

$

(22,645

)

 

$

(116,445

)

Weighted average shares outstanding—basic and diluted

 

 

381,759

 

 

 

342,538

 

 

 

297,237

 

Net loss per share—basic and diluted

 

$

(0.05

)

 

$

(0.07

)

 

$

(0.39

)

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

For the years ended December 31, 2020, 2019 and 2018, the following potentially dilutive securities were not included in the computation of net loss per share because the effect would be anti-dilutive:

 

In thousands

 

2020

 

 

2019

 

 

2018

 

Stock options

 

 

16,664

 

 

 

15,619

 

 

 

19,263

 

Restricted stock and restricted stock units

 

 

7,710

 

 

 

6,921

 

 

 

9,633

 

Preferred stock (if converted)

 

 

 

 

 

28,932

 

 

 

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, 2020 and 2019 and indicate the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value:

 

 

 

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

 

 

$

 

 

 

 

December 31, 2019

 

In thousands

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Asset:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money Market Fund

 

$

10,078

 

 

$

10,078

 

 

$

 

 

$

 

Carrying Amounts and Estimated Fair Values of Debt from Royalty-Bearing Instrument

The carrying amounts of accounts payable and accrued liabilities approximate fair value because of their short-term nature. The carrying amounts and the estimated fair values of the debt from royalty-bearing instrument as of December 31, 2020 and 2019 are as follows:

 

 

 

December 31, 2020

 

 

December 31, 2019

 

In thousands

 

Carrying

Value

 

 

Estimated

Fair Value

 

 

Carrying

Value

 

 

Estimated

Fair Value

 

Debt from royalty-bearing instrument

 

$

 

 

$

 

 

$

49,702

 

 

$

50,400