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Sale of Pelican Business and Investment in Primrose Bio (Tables)
 9 Months Ended
Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Carrying Amounts of Major Classes of Assets and Liabilities Related to Assets Held for Sale
We determined that the sale of Pelican meets the definition of a deconsolidation of a business. Net assets sold together with allocated goodwill and cash consideration paid were as follows (in thousands):

Property and equipment, net$8,250 
Intangible assets19,895 
Other assets717 
Operating lease right-of-use assets8,693 
Financing lease right-of-use assets20 
Accrued liabilities(630)
Deferred revenue(495)
Long-term operating lease liabilities(8,445)
Other liabilities(74)
Net assets sold27,931 
Allocated goodwill4,132 
Cash consideration paid15,000 
$47,063 
The following table summarizes revenue and expenses of the discontinued operations for the three and nine months ended September 30, 2022 (in thousands):
Three months ended September 30, 2022Nine months ended September 30, 2022
Revenues:
Royalties$582 $984 
Contract revenue6,285 22,353 
Total revenues6,867 23,337 
Operating costs and expenses:
Amortization of intangibles3,250 9,757 
Research and development12,797 34,576 
General and administrative2,525 11,279 
Total operating costs and expenses18,572 55,612 
Loss from operations(11,705)(32,275)
Other income (expense):
Other income (expense), net208 485 
Total other income (expense), net208 485 
Loss before income tax(11,497)(31,790)
Income tax (expense) benefit2,256 6,599 
Net loss$(9,241)$(25,191)

The following table summarizes the significant non-cash items, capital expenditures of the discontinued operations, and financing activities that are included in the consolidated statements of cash flows for the nine months ended September 30, 2022 (in thousands):
Nine months ended
September 30, 2022
Operating activities:
Change in fair value of contingent consideration$(486)
Depreciation and amortization12,070 
Stock-based compensation expense7,923 
Investing activities:
Purchase of property, plant and equipment(12,415)
Payments to CVR Holders(960)
Financing activities:
Payments to CVR Holders$(1,545)
Supplemental cash flow disclosures:
Purchases of property, plant and equipment included in accounts payable and accrued expenses$3,458 
Schedule of Fair Value of the Consideration
Fair value of the consideration received includes the following (in thousands):
Equity method investment$13,706 
Equity securities32,278 
Derivative assets3,200 
$49,184