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Summary of Unaudited Quarterly Financial Information | 12 Months Ended
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Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract] |
Summary of Unaudited Quarterly Financial Information | Summary of Unaudited Quarterly Financial InformationThe following financial information reflects all normal recurring adjustments, which are, in the opinion of management, necessary for a fair statement of the results and cash flows of interim periods. Summarized quarterly data for 2020 and 2019 are as follows (in thousands, except per share amounts):
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
2020 |  |  |  |  |  |  |
Total revenues | $ | 33,161 |  |  | $ | 41,420 |  |  | $ | 41,848 |  |  | $ | 69,990 |
Total operating costs and expenses | 29,373 |  |  | 34,320 |  |  | 38,101 |  |  | 75,894 |
Income tax (expense) benefit | 6,284 |  |  | (6,033) |  |  | 4,911 |  |  | 2,391 |
Net income (loss) | (24,131) |  |  | 22,086 |  |  | (6,701) |  |  | 5,761 |
Basic per share amounts: |  |  |  |  |  |  |
Net income (loss) | $ | (1.46) |  |  | $ | 1.38 |  |  | $ | (0.42) |  |  | $ | 0.36 |
Diluted per share amounts: |  |  |  |  |  |  |
Net income (loss) | $ | (1.46) |  |  | $ | 1.32 |  |  | $ | (0.42) |  |  | $ | 0.35 |
Weighted average shares—basic | 16,529 |  | 16,055 |  | 16,082 |  | 16,077
Weighted average shares—diluted | 16,529 |  | 16,694 |  | 16,082 |  | 16,684
| First Quarter(1) |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
2019 |  |  |  |  |  |  |
Total revenues | $ | 43,484 |  |  | $ | 24,987 |  |  | $ | 24,808 |  |  | $ | 27,003 |
Total operating costs and expenses | 29,738 |  |  | 29,117 |  |  | 29,966 |  |  | 37,182 |
Income tax (expense) benefit | (176,376) |  |  | 3,609 |  |  | 4,620 |  |  | 810 |
Net income (loss) | 666,337 |  |  | (14,419) |  |  | (15,251) |  |  | (7,365) |
Basic per share amounts: |  |  |  |  |  |  |
Net income (loss) | $ | 32.59 |  |  | $ | (0.74) |  |  | $ | (0.81) |  |  | $ | (0.43) |
Diluted per share amounts: |  |  |  |  |  |  |
Net income (loss) | $ | 31.32 |  |  | $ | (0.74) |  |  | $ | (0.81) |  |  | $ | (0.43) |
Weighted average shares—basic | 20,447 |  | 19,558 |  | 18,770 |  | 17,243
Weighted average shares—diluted | 21,277 |  | 19,558 |  | 18,770 |  | 17,243
(1) Includes pre-tax gain from sale of Promacta license of $812,797. |  |  |  |  |  |

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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