XML 17 R4.htm IDEA: XBRL DOCUMENT v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues and other income:        
Total revenues and other income $ 51,812 $ 32,868 $ 124,321 $ 103,213
Operating costs and expenses:        
Cost of Captisol 2,449 3,485 8,237 8,871
Amortization of intangibles 8,258 8,238 24,701 25,316
Research and development 5,675 5,532 17,000 19,049
General and administrative 24,475 14,656 53,049 36,798
Financial royalty assets impairment 0 0 26,491 0
Fair value adjustments to partner program derivatives 7,812 0 7,812 0
Total operating costs and expenses 48,669 31,911 137,290 90,034
Gain on sale of Pelican 0 (2,121) 0 (2,121)
Operating income (loss) from continuing operations 3,143 3,078 (12,969) 15,300
Non-operating income and expenses:        
Gain (loss) from short-term investments 2,407 (13,184) 98,923 30,340
Interest income 1,347 2,263 6,124 6,018
Interest expense (741) (1) (2,154) (525)
Other non-operating expense, net (12,495) (4,300) (48,206) (4,570)
Total non-operating (expenses) income, net (9,482) (15,222) 54,687 31,263
(Loss) income before income taxes from continuing operations (6,339) (12,144) 41,718 46,563
Income tax benefit (expense) (833) 1,871 (14,662) (10,932)
Net (loss) income from continuing operations (7,172) (10,273) 27,056 35,631
Net loss from discontinued operations 0 0 0 (1,665)
Net (loss) income $ (7,172) $ (10,273) $ 27,056 $ 33,966
Earnings per share        
Basic net (loss) income from continuing operations per share (in USD per share) $ (0.39) $ (0.59) $ 1.50 $ 2.07
Basic net loss from discontinued operations per share (in USD per share) 0 0 0 (0.10)
Basic net (loss) income per share (in USD per share) $ (0.39) $ (0.59) $ 1.50 $ 1.97
Shares used in basic per share calculation (in shares) 18,419 17,380 18,061 17,241
Diluted net (loss) income from continuing operations per share (in USD per share) $ (0.39) $ (0.59) $ 1.46 $ 2.00
Diluted net loss from discontinued operations per share (in USD per share) 0 0 0 (0.09)
Diluted net (loss) income per share (in USD per share) $ (0.39) $ (0.59) $ 1.46 $ 1.91
Shares used in diluted per share calculation (in shares) 18,419 17,380 18,574 17,784
Royalties        
Revenues and other income:        
Total revenues and other income $ 31,709 $ 23,888 $ 73,966 $ 62,473
Revenue from intangible royalty assets        
Revenues and other income:        
Total revenues and other income 26,552 23,863 67,512 61,447
Income from financial royalty assets        
Revenues and other income:        
Total revenues and other income 5,157 25 6,454 1,026
Captisol        
Revenues and other income:        
Total revenues and other income 6,255 8,608 22,967 24,450
Contract revenue and other income        
Revenues and other income:        
Total revenues and other income $ 13,848 $ 372 $ 27,388 $ 16,290