XML 13 R7.htm IDEA: XBRL DOCUMENT v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Mar. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Cash flows from operating activities              
Net income $ 1,213 $ 36,532 $ 82,046 $ 34,865 $ 3,060 $ 118,191  
Adjustments to reconcile net income to net cash provided by operating activities:              
Deferred income taxes         (15,438) (1,115)  
Amortization of capitalized fees and depreciation of property and equipment         10,466 10,437  
Amortization of acquired intangible assets 6,511   6,511   19,391 15,274  
Inventory fair value step-up adjustment included in cost of products sold         12,101 19,179  
Stock-based compensation         4,701 4,560  
Amortization of debt discount and issuance costs         1,581 1,549  
Changes in fair values of equity method investments, net 18,231   (71,980)   42,997 (67,886)  
Changes in fair values of equity and long-term investments, net         60,827 4,887 $ (11,129)
Accrued interest income added to long-term investments         0 (1,482)  
Other non-cash items         (324) (770)  
Changes in operating assets and liabilities:              
Accounts receivable         (16,092) (1,351)  
Receivables from collaboration arrangement         9,109 (2,341)  
Inventory         (5,600) (3,797)  
Prepaid expenses         8,980 14,830  
Other assets         594 1,795  
Accounts payable         (2,547) 844  
Accrued personnel-related expenses and other accrued liabilities         (3,977) (1,072)  
Accrued interest payable         (2,589) (3,526)  
Income tax payable         2,771 148  
Deferred revenue         (560) (546)  
Net cash provided by operating activities         129,451 107,808  
Cash flows from investing activities              
Purchases of trading securities         (48,136) (60,132)  
Purchases of equity and long-term investments         0 (1,218)  
Purchases of equity investments managed by ISP Fund LP         (32,270) (24,914)  
Sales of equity investments managed by ISP Fund LP         52,831 39,642  
Purchases and sales of other investments managed by ISP Fund LP, net         (20,561) (14,728)  
Purchases of property and equipment         (270) (260)  
Sale of property and equipment         98 0  
Net cash used in investing activities         (48,308) (61,610)  
Cash flows from financing activities              
Repurchase of common stock         (14,777) (61,092)  
Repurchase of shares to satisfy tax withholding         (123) (65)  
Proceeds from issuances of common stock, net         874 111  
Payment for repurchase of convertible subordinated notes due 2023         0 (96,204)  
Net cash used in financing activities         (14,026) (157,250)  
Net increase (decrease) in cash and cash equivalents         67,117 (111,052)  
Cash and cash equivalents at beginning of period   $ 193,513   $ 291,049 193,513 291,049 291,049
Cash and cash equivalents at end of period $ 260,630   $ 179,997   260,630 179,997 $ 193,513
Supplemental Disclosure of Cash Flow Information:              
Cash paid for interest         10,359 11,381  
Cash paid for income taxes         11,793 0  
Supplemental Disclosure of Non-cash Investing and Financing Activities:              
Accrued interest income converted to long-term investments         $ 2,090 $ 0