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Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Revenue by Source
The following table represents disaggregation of royalties, Captisol and contract revenue (in thousands):
Three months endedSix months ended
June 30,June 30,
2021202020212020
Royalties
Kyprolis$5,440 $5,481 $9,727 $9,886 
Evomela2,193 1,199 4,526 2,775 
Other983 501 1,475 1,085 
$8,616 $7,181 $15,728 $13,746 
Captisol$62,509 $24,468 $93,781 $45,577 
Contract revenue
Service Revenue$7,360 $4,582 $12,822 $7,939 
License Fees1,050 660 2,093 1,635 
Milestone3,600 3,472 12,017 3,806 
Other1,540 1,057 3,384 1,878 
$13,550 $9,771 $30,316 $15,258 
Total$84,675 $41,420 $139,825 $74,581 
Schedule of Short-Term Investments Our short-term investments consist of the following at June 30, 2021 and December 31, 2020 (in thousands):
June 30, 2021December 31, 2020
Amortized costGross unrealized gainsGross unrealized lossesEstimated fair valueAmortized costGross unrealized gainsGross unrealized lossesEstimated fair value
     Bank deposits$33,560 $13 $(2)$33,571 $84,120 $35 $(1)$84,154 
     Corporate bonds25,965 62 (2)26,025 30,512 99 (1)30,610 
     Agency bonds2,500 — (1)2,499 4,499 2 — 4,501 
     Commercial paper19,258 12 — 19,270 45,459 27 (1)45,485 
     Corporate equity securities5,807 172 (310)5,669 4,466 360 (1,388)3,438 
     Mutual fund151,949 53 — 152,002 151,512 386 — 151,898 
     Treasury bill— — — — 3,999 — — 3,999 
     Warrants— 713 — 713 — 393 — 393 
$239,039 $1,025 $(315)$239,749 $324,567 $1,302 $(1,391)$324,478 
     Viking common stock40,223 32,763 
     Viking warrants— 6,326 
Total short-term investments$279,972 $363,567 
Schedule of Available-for-Sale Debt Securities
The following table summarizes our available-for-sale debt securities by contractual maturity (in thousands):
June 30, 2021
Amortized CostFair Value
Within one year$57,997 $58,050 
After one year through five years23,286 23,316 
Total$81,283 $81,366 
Schedule of Goodwill and Other Identifiable Intangible Assets Goodwill and other identifiable intangible assets consist of the following (in thousands):
June 30,December 31,
20212020
Indefinite-lived intangible assets
     Goodwill$190,517 $189,662 
Definite lived intangible assets
     Complete technology277,980 277,740 
          Less: accumulated amortization(71,276)(63,600)
     Trade name2,642 2,642 
          Less: accumulated amortization(1,378)(1,312)
     Customer relationships40,700 40,700 
          Less: accumulated amortization(16,932)(15,597)
     Contractual relationships362,000 362,000 
          Less: accumulated amortization(21,730)(7,243)
Total goodwill and other identifiable intangible assets, net$762,523 $784,992 
Schedule of Commercial License and Other Economic Rights
Commercial license and other economic rights consist of the following (in thousands):
June 30, 2021December 31, 2020
Gross
Adjustments(1)
NetGross
Adjustments(2)
Net
Aziyo and CorMatrix$17,696 $(9,470)$8,226 $17,696 $(9,588)$8,108 
Selexis and Dianomi10,602 (8,190)2,412 10,602 (7,731)2,871 
     Total$28,298 $(17,660)$10,638 $28,298 $(17,319)$10,979 
(1) Amounts represent accumulated amortization to principal of $11.7 million and credit loss adjustments of $6.0 million as of June 30, 2021.
(2) Amounts represent accumulated amortization to principal of $11.3 million and credit loss adjustments of $6.0 million as of December 31, 2020.
Schedule of Accrued Liabilities Accrued liabilities consist of the following (in thousands):
June 30,December 31,
20212020
Compensation$3,684 $8,810 
Professional fees977 977 
Amounts owed to former licensees446 421 
Royalties owed to third parties52 693 
Return reserve105 687 
Acquisition related liabilities1,500 1,500 
Subcontractor— 733 
Supplier681 604 
Accrued interest295 464 
Other2,367 3,641 
     Total accrued liabilities$10,107 $18,530 
Schedule of Accounting for Share-Based Compensation The following table summarizes share-based compensation expense recorded as components of research and development expenses and general and administrative expenses for the periods indicated (in thousands):
Three months endedSix months ended
June 30,June 30,
2021202020212020
SBC - Research and development expenses$4,556 $3,019 $8,495 $5,416 
SBC - General and administrative expenses5,660 4,340 10,126 7,596 
$10,216 $7,359 $18,621 $13,012 
Schedule of Fair-Value Options Awarded to Employees and Directors
The fair-value for options that were awarded to employees and directors was estimated at the date of grant using the Black-Scholes option valuation model with the following weighted-average assumptions:
Three months endedSix months ended
June 30,June 30,
2021202020212020
Risk-free interest rate0.9%0.4%0.5%1.1%
Dividend yield————
Expected volatility54%69%62%55%
Expected term5.55.15.04.8
Schedule of Computation of Basic and Diluted Earnings per Share The following table presents the calculation of weighted average shares used to calculate basic and diluted earnings per share (in thousands):
Three months endedSix months ended
June 30,June 30,
2021202020212020
Weighted average shares outstanding:16,659 16,055 16,548 16,292 
Dilutive potential common shares:
     Restricted stock69 40 90 — 
     Stock options444 599 572 — 
Shares used to compute diluted income per share17,172 16,694 17,210 16,292 
Potentially dilutive shares excluded from calculation due to anti-dilutive effect5,087 7,832 4,684 8,988