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Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2020
Pfenex |
Business Acquisition [Line Items] |
Schedule of Allocation of Consideration / Recognized Identified Assets Acquired and Liabilities Assumed | The following table sets forth an allocation of the preliminary purchase price to the identifiable tangible and intangible assets acquired and liabilities assumed, with the excess recorded to goodwill (in thousands):
Cash | $ | 51,407 |
Restricted cash | 200 |
Accounts and unbilled receivables | 1,359 |
Property and equipment, net | 7,823 |
Right-of-use asset | 3,070 |
Other assets | 1,338 |
Intangibles acquired | 385,000 |
Goodwill(1) | 90,750 |
Accounts payable | (6,814) |
Accrued liabilities | (7,379) |
Deferred revenue | (3,908) |
Lease liabilities | (3,070) |
Other liabilities | (1,382) |
Deferred tax liabilities, net | (53,296) |
Total consideration | $ | 465,098 |
(1) Goodwill represents the excess of the purchase price over the preliminary fair value of the underlying assets acquired and liabilities assumed. Goodwill is attributable to the assembled workforce of experienced personnel at Pfenex and expected synergies.
Schedule of Finite-Lived Intangibles Acquired | The intangibles acquired and their weighted average useful life are as follows (in thousands, except useful lives):
| Approximate Fair Value | Estimated useful life (in years)
Contractual Relationships: |  |
Alvogen | $ | 114,000 |  | 12
Merck | 117,000 |  | 12
Jazz | 80,000 |  | 17
SII | 49,000 |  | 10
Arcellx | 2,000 |  | 17
Acquired Technologies | 23,000 |  | 10-19
| $ | 385,000 |  |
Schedule of Pro Forma Information | The pro forma financial information is not necessarily indicative of the operating results that would have occurred had the acquisition been consummated as if the date indicated, nor is it necessarily indicative of future operating results (in thousands, except per share amounts):
| Year Ended December 31,
(Unaudited) | 2020 | 2019
Revenue | $ | 189,203 |  | $ | 170,608 |
Net Income (loss) | $ | (60,059) |  | $ | 594,941 |
Net income (loss) per common share: |  |
Basic | $ | (3.71) |  | $ | 31.32 |
Diluted | $ | (3.71) |  | $ | 30.11 |
Taurus |
Business Acquisition [Line Items] |
Schedule of Allocation of Consideration / Recognized Identified Assets Acquired and Liabilities Assumed | The allocation of the consideration was allocated to the acquisition date fair values of acquired assets as follows (in thousands)
Cash | $ | 47 |
Intangibles assets with finite-life - core technologies | 5,005 |
| $ | 5,052 |
xCella |
Business Acquisition [Line Items] |
Schedule of Allocation of Consideration / Recognized Identified Assets Acquired and Liabilities Assumed | The allocation of the consideration was allocated to the acquisition date fair values of acquired assets and assumed liabilities as follows (in thousands):
Cash and other assets | $ | 240 |
Accrued liabilities | (142) |
Deferred tax liabilities, net | (820) |
Intangibles assets with finite-life - core technology | 7,798 |
| $ | 7,076 |
Icagen |
Business Acquisition [Line Items] |
Schedule of Allocation of Consideration / Recognized Identified Assets Acquired and Liabilities Assumed | The preliminary allocation of the consideration was allocated to the acquisition date fair values of acquired assets and assumed liabilities as follows (in thousands):
Property and equipment, net | $ | 1,173 |
Prepaids and other assets | 588 |
Liabilities assumed | (812) |
Deferred revenue | (3,685) |
Deferred tax assets, net | 861 |
Acquired intangibles | 12,800 |
Goodwill(1) | 9,015 |
| $ | 19,940 |
(1) Goodwill represents the excess of the purchase price over the preliminary fair value of the underlying assets acquired and liabilities assumed. Goodwill is attributable to the assembled workforce of experienced personnel at Icagen and expected synergies.
Ab Initio |
Business Acquisition [Line Items] |
Schedule of Allocation of Consideration / Recognized Identified Assets Acquired and Liabilities Assumed | The final purchase consideration was allocated to the acquisition date fair values of acquired assets and assumed liabilities as follows (in thousands):
Cash and other assets | $ | 28 |
Accounts payable and accrued liabilities | (83) |
Deferred tax liabilities, net | (146) |
Intangibles assets with finite-life - core technologies | 7,400 |
Goodwill(1) | 4,812 |
| $ | 12,011 |
(1) Goodwill represents the excess of the purchase price over the fair value of the underlying assets acquired and liabilities assumed. Goodwill is attributable to the assembled workforce of experienced personnel at Ab Initio and expected synergies.
Vernalis |
Business Acquisition [Line Items] |
Schedule of Allocation of Consideration / Recognized Identified Assets Acquired and Liabilities Assumed | The final purchase consideration was allocated to the acquisition date fair values of acquired assets and assumed liabilities as follows (in thousands):
Cash and cash equivalents | $ | 34,286 |
Restricted cash | 2,836 |
Other assets | 6,383 |
Accounts payable and accrued liabilities | (3,479) |
Restructuring and product reserves | (9,241) |
Deferred revenue | (746) |
Intangibles assets with finite-life - core technologies | 7,000 |
Goodwill | 5,939 |
| $ | 42,978 |

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