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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities    
Net income $ 19,566 $ 1,490
Less: income from discontinued operations 0 731
Income from continuing operations 19,566 759
Adjustments to reconcile net income to net cash provided by operating activities:    
Non-cash change in estimated fair value of contingent liabilities 2,302 2,595
Realized gain on sale of short-term investment (371) (1,776)
Gain on disposal of assets 0 (183)
Depreciation and amortization 7,581 8,322
Amortization of premium (discount) on investments, net 88 510
Amortization of debt discount and issuance fees 8,647 8,130
Stock-based compensation 15,917 13,690
Deferred income taxes 6,855 347
Change in fair value of the Viking convertible debt receivable and warrants (426) (464)
Loss from equity method investment 3,350 14,139
Changes in operating assets and liabilities:    
Accounts receivable 1,909 (411)
Inventory (1,985) (2,394)
Other current assets 399 (9)
Other long-term assets 0 (31)
Accounts payable and accrued liabilities (2,649) (3,079)
Other 1,075 1,497
Net cash provided by operating activities 62,258 42,008
Investing activities    
Purchase of commercial license rights 0 (17,695)
Payments to CVR holders and other contingency payments (4,998) (7,055)
Purchases of property and equipment (220) (1,783)
Cash paid for acquisition, net of cash acquired 0 (92,504)
Purchase of short-term investments (205,121) (73,109)
Proceeds received from repayment of Viking note receivable 200 300
Proceeds received from repayment of commercial license rights 2,859 0
Proceeds from sale of short-term investments 83,390 23,387
Proceeds from maturity of short-term investments 75,887 113,694
Net cash used in investing activities (48,003) (56,465)
Financing activities    
Net proceeds from stock option exercises and ESPP 3,864 4,608
Taxes paid related to net share settlement of equity awards (4,132) (999)
Net cash (used in) provided by financing activities (268) 3,609
Net increase (decrease) in cash and cash equivalents 13,987 (10,848)
Cash and cash equivalents at beginning of period 18,752 97,428
Cash and cash equivalents at end of period 32,739 86,580
Supplemental disclosure of cash flow information    
Interest paid 1,838 1,838
Taxes paid 145 36
Supplemental schedule of non-cash activity    
Stock issued for acquisition, net of issuance cost 0 (77,330)
Unsettled repurchase of common stock 0 (1,554)
Stock and warrant received for repayment of Viking notes receivable 0 1,200
Accrued fixed asset purchases 1,700 0
Accrued inventory purchases 499 0
Unrealized gain (loss) on AFS investments 628 (271)
Purchase of Common Stock    
Investing activities    
Purchase of Viking common stock and warrants 0 (1,000)
Viking Therapeutics, Inc.    
Investing activities    
Purchase of Viking common stock and warrants $ 0 $ (700)