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Selected Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2021

Selected Quarterly Financial Information (Unaudited)

Selected Quarterly Financial Information (Unaudited)

Note 14.

Selected Quarterly Financial Information (Unaudited)


		Three months ended
		March 31,			June 30,			September 30,			December 31,
(in thousands, except per share amounts)		2021			2021			2021			2021
Net sales		$	67,968		$	78,093		$	74,710		$	73,240
Cost of sales			16,633			17,759			15,370			16,865
Gross profit			51,335			60,334			59,340			56,375
Operating expenses:
Selling, general and administrative			41,921			45,300			44,470			47,566
Research and development			21,219			24,256			28,846			26,678
In-process research and development			—			5,000			5,000			—
Litigation-related settlement			—			—			(30,000)			—
Total operating expenses			63,140			74,556			48,316			74,244
(Loss) income from operations			(11,805)			(14,222)			11,024			(17,869)
Non-operating expense			(4,385)			(3,052)			(4,592)			(4,366)
Income tax provision (benefit)			279			208			202			(363)
Net (loss) income		$	(16,469)		$	(17,482)		$	6,230		$	(21,872)
Net (loss) income per share ⁽¹⁾:
Basic and diluted		$	(0.36)		$	(0.38)		$	0.13		$	(0.47)


		Three months ended
		March 31,			June 30,			September 30,			December 31,
(in thousands, except per share amounts)		2020			2020			2020			2020
Net sales		$	55,336		$	31,558		$	64,831		$	73,234
Cost of sales			32,529			21,668			17,932			19,590
Gross profit			22,807			9,890			46,899			53,644
Operating expenses:
Selling, general and administrative			50,546			38,116			38,947			43,792
Research and development			24,873			18,971			20,304			21,244
Total operating expenses			75,419			57,087			59,251			65,036
Loss from operations			(52,612)			(47,197)			(12,352)			(11,392)
Non-operating expense			(1,896)			(81)			(4,285)			(2,499)
Income tax provision			(450)			(7,384)			(889)			(3,243)
Net loss		$	(54,058)		$	(39,894)		$	(15,748)		$	(10,648)
Net loss per share ⁽¹⁾:
Basic and diluted		$	(1.24)		$	(0.90)		$	(0.35)		$	(0.24)

(1)	Net income or loss per share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly per-share amounts will not necessarily equal the annual per share amount.