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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net income including noncontrolling interests in subsidiaries $ 150,365 $ 109,231
Adjustments to reconcile net income including noncontrolling interests in subsidiaries to net cash provided by (used in) operating activities:    
Change in fair value of investment, net 2,752 (5,474)
Gain on sale of investment (3,591) (8,187)
Depreciation and amortization 10,688 4,800
Amortization of debt discount and issuance costs 110 7,051
Change in fair value of Series A redeemable convertible preferred stock embedded derivatives (8,280) 8,754
Change in fair value of Series A warrants 4,651 3,072
Change in fair value of Series B warrants 44,037 46,412
Compensation expense for share-based awards 2,053 1,662
Loss on foreign currency exchange 89 4,905
Change in fair value of equity securities (87,527) (176,173)
Gain on sale of equity securities (116,129) (7,352)
Gain on sale of prepaid investment and derivative 0 (2,845)
Earnings on equity investment in joint venture (3,530) 0
Changes in assets and liabilities:    
Accounts receivable (747) 5
Inventories 1,906 0
Prepaid expenses and other assets (78) (2,919)
Accounts payable and accrued expenses 760 (2,546)
Royalties and contingent legal fees payable 301 (16)
Deferred revenue (246) 0
Deferred income tax liabilities 15,742 0
Net cash provided by (used in) operating activities 13,326 (19,620)
Cash flows from investing activities:    
Acquisition, net of cash acquired (33,250) 0
Patent acquisition (21,000) (13,780)
Sale of investment at fair value 3,591 12,409
Purchases of equity securities (66,624) (46,492)
Sales of equity securities 154,784 228,873
Maturities and sales of debt securities 0 118,459
Cash distributed for notes receivable (4,021) 0
Acquisition of Life Sciences Portfolio equity securities 0 (280,263)
Distributions received from equity investment in joint venture 2,362 0
Distributions to noncontrolling interests in operating subsidiary 0 (409)
Purchases of property and equipment (91) (199)
Net cash provided by investing activities 35,751 18,598
Cash flows from financing activities:    
Repurchase of common stock (4,012) (3,998)
Issuance of Senior Secured Notes, net of lender fee 115,000 110,437
Paydown of Senior Secured Notes (50,000) 0
Senior Secured Notes issuance costs paid to other parties 0 (496)
Dividend on Series A Redeemable Convertible Preferred Stock (1,452) (1,382)
Issuance of Series B warrants 0 4,600
Proceeds from exercise of stock options 202 48
Net cash provided by financing activities 59,738 109,209
Increase in cash and cash equivalents and restricted cash 108,815 108,187
Cash and cash equivalents and restricted cash, beginning 200,546 92,359
Cash and cash equivalents and restricted cash, ending 309,361 200,546
Supplemental schedule of cash flow information:    
Interest paid 7,336 1,259
Income taxes paid (refunded) 25 (3,482)
Patent acquisition in exchange of notes receivable 4,000 0
Patent acquisition accrued liabilities 5,000 0
Distribution to noncontrolling interests in subsidiaries $ 1,168 $ 0