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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Pay Versus Performance Disclosure
As required by Item 402(v) of Regulation S-K, this section discusses the relationship between executive compensation and the Company’s financial performance for each of the last five completed fiscal years. In determining the “compensation actually paid” to our named executive officers (or “NEOs”), we are required to make various adjustments to amounts that have been previously reported in the Summary Compensation Table in previous years, as the SEC’s valuation methods for this section differ from those required in the Summary Compensation Table. The table below summarizes compensation values both previously reported in our Summary Compensation Table, as well as the adjusted values required in this section for each of the fiscal years ended December 31, 2020, 2021, 2022, 2023 and 2024. Note that for our NEOs other than our current and prior principal executive officers (each, a “PEO”), compensation is reported as an average.
 
Year
 
Summary
Compensation
Table Total for

PEO
(1)

($)
   
Summary
Compensation
Table Total

for Prior

PEO
(1)

($)
   
Compensation
Actually Paid
to PEO
(1)(2)

($)
   
Compensation
Actually Paid
to Prior
PEO
(1)(2)

($)
   
Average

Summary

Compensation

Table Total for

Non-PEO

NEOs
(1)

($)
   
Average
Compensation
Actually Paid
to Non-PEO
NEOs
(1)(2)

($)
   
Value of Initial Fixed $100

Investment Based On:
   
Net Income
(Loss)
(4)

($)
   
Basic
EPS
(5)

($)
 
 
Total
Shareholder
Return
(3)

($)
   
Peer Group

Total
Shareholder
Return
(3)

($)
 
2024
    2,716,420       —        3,094,792       —        1,019,955       860,567       123       111       23,392,000       0.37  
2023
    868,648       —        1,063,033       —        1,125,031       1,161,345       113       119       179,722,000       2.75  
2022
    1,798,966       —        7,127       —        665,254       497,932       94       114       220,262,000       3.07  
2021
    1,271,138       —        1,246,717       —        614,262       561,101       122       126       368,837,000       3.24  
2020
    1,943,968       716,242       (8,215     489,274       558,869       395,696       88       126       293,814,000       2.21  
 
(1)
The dollar amounts reported for our prior PEO for fiscal year 2020 reflect amounts for Geoffrey L. Hulme, who served as our interim Principal Executive Officer until May 20, 2020, at which time Mr. Raifeld was appointed to serve as our Chief Executive Officer. Mr. Raifeld has served as our Chief Executive Officer since May 20, 2020, and the dollar amounts reported for our PEO for fiscal years 2020, 2021, 2022, 2023 and 2024 reflect amounts for Mr. Raifeld.
The dollar amounts reported for our Non-PEO NEOs for fiscal years 2020 and 2021 reflect the amounts for Ms. Zhen, our only non-PEO NEO for such fiscal years. The dollar amounts reported for our Non-PEO NEOs for fiscal year 2022 is the average of the amounts for Ms. Zhen and Larry Edwards (former President and Chief Executive Officer of La Jolla Pharmaceutical Company). The dollar amounts reported for our Non-PEO NEOs for fiscal year 2023 reflect the amounts for Ms. Zhen, Mr. Basso, Mr. Edwards and Margaret Koziel (former Chief Medical Officer). The dollar amounts reported for our Non-PEO NEOs for fiscal year 2024 reflect the amounts for Mr. Basso, Ms. Zhen and Dr. Ronsheim.
 
(2)
The dollar amounts reported in these columns represent the amount of “compensation actually paid” to our NEOs as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to our NEOs during the applicable fiscal year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the total compensation reported for our NEOs in the “Total” column of the Summary Compensation Table to determine the amount of “compensation actually paid” for each year. NEOs do not participate in a defined benefit plan so no adjustment for pension benefits is included in the table
below
.
 
    
Year
    
Summary Compensation
Table Total
($)
(a)
    
Reported Value of
Equity Awards
(a)

($)
(b)
    
Equity Award
Adjustment
(b)

($)
(c)
   
Compensation
Actually Paid
($)
(a – b + c)
 
Pavel Raifeld
     2024        2,716,420        1,775,340        2,153,712       3,094,792  
     2023        868,648        —         194,385       1,063,033  
     2022        1,798,966        1,044,300        (747,539     7,127  
     2021        1,271,138        580,330        555,909       1,246,717  
     2020        1,943,968        1,570,000        (382,183     (8,215
Geoffrey Hulme
     2020        716,242        224,996        (1,972     489,274  
Non-PEO NEOs
     2024        1,019,955        478,560        319,172       860,567  
     2023        1,125,031        370,304        406,618       1,161,345  
     2022        665,254        120,461        (46,861     497,932  
     2021        614,262        152,086        98,925       561,101  
     2020        558,869        124,996        (38,177     395,696  
 
(a)
The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards”
an
d “Option Awards” columns, as applicable, in the Summary Compensation Table for the applicable year.
(b)
The equity award
adjustment
for each applicable year includes the addition (or subtraction, as applicable) of the amounts set forth in the table below in accordance with Item 402(v) of Regulation S-K. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant.
 
   
Year
   
Year End Fair
Value of
Outstanding
and Unvested
Equity
Awards
Granted in the
Year
($)
   
Year over Year
Change in Fair
Value of
Outstanding
and Unvested
Equity Awards
Granted in
Prior Years
($)
   
Fair Value as
of Vesting
Date of Equity
Awards
Granted and
Vested in the
Year
($)
   
Year over Year
Change in Fair
Value of Equity
Awards
Granted in
Prior Years that
Vested in the
Year
($)
   
Fair Value at the
End of the Prior
Year of Equity
Awards that Failed
to Meet Vesting
Conditions in the
Year
($)
   
Value of Dividends or

other Earnings Paid

on Stock or Option
Awards not
Otherwise Reflected
in Fair Value or Total
Compensation
($)
   
Total
Equity
Award
Adjustment
($)
 
Pavel Raifeld
    2024       2,166,571       (27,153     —        14,294       —        —        2,153,712  
    2023       —        224,616     —        (30,231     —        —        194,385  
    2022       (340,558     (435,147     —        28,166       —        —        (747,539
    2021       224,504       405,433       —        (74,028     —        —        555,909  
    2020       (382,183     —        —        —        —        —        (382,183
Geoffrey Hulme
    2020       —        —        —        (1,972     —        —        (1,972
Non-PEO NEOs
    2024       260,661       25,314       —        33,197       —        —        319,172  
    2023       399,658       8,150       —        (1,190     —        —        406,618  
    2022       (44,883     (22,066     —        20,088       —        —        (46,861
    2021       67,900       38,700         (7,675         98,925  
    2020       (16,695     (12,532       (8,950         (38,177
 
(3)
The dollar amounts disclosed in these columns assume $100 was invested for the cumulative period through the end of the last fiscal year, in either the Company or the NASDAQ Biotechnology Index (weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated), as applicable, and reinvestment of the pre-tax value of dividends paid. Historical stock performance is not necessarily indicative of future stock performance.
(4)
The dollar amounts reported in this column represent the amount of net income (loss) previously disclosed in our consolidated audited financial statements for the applicable year, as required by Regulation S-X.
(5)
While the Company uses a number of financial performance measures for the purpose of evaluating performance for the Company’s compensation programs, the Company has determined that basic earnings per share (EPS) is the financial performance measure that, in the Company’s assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used by the Company to link compensation actually paid to the Company’s NEOs, for the most recently completed fiscal year, to the Company’s performance.
       
Company Selected Measure Name Basic EPS        
Named Executive Officers, Footnote The dollar amounts reported for our Non-PEO NEOs for fiscal years 2020 and 2021 reflect the amounts for Ms. Zhen, our only non-PEO NEO for such fiscal years. The dollar amounts reported for our Non-PEO NEOs for fiscal year 2022 is the average of the amounts for Ms. Zhen and Larry Edwards (former President and Chief Executive Officer of La Jolla Pharmaceutical Company). The dollar amounts reported for our Non-PEO NEOs for fiscal year 2023 reflect the amounts for Ms. Zhen, Mr. Basso, Mr. Edwards and Margaret Koziel (former Chief Medical Officer). The dollar amounts reported for our Non-PEO NEOs for fiscal year 2024 reflect the amounts for Mr. Basso, Ms. Zhen and Dr. Ronsheim.        
Peer Group Issuers, Footnote The dollar amounts disclosed in these columns assume $100 was invested for the cumulative period through the end of the last fiscal year, in either the Company or the NASDAQ Biotechnology Index (weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated), as applicable, and reinvestment of the pre-tax value of dividends paid. Historical stock performance is not necessarily indicative of future stock performance.        
Adjustment To PEO Compensation, Footnote
(2)
The dollar amounts reported in these columns represent the amount of “compensation actually paid” to our NEOs as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to our NEOs during the applicable fiscal year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the total compensation reported for our NEOs in the “Total” column of the Summary Compensation Table to determine the amount of “compensation actually paid” for each year. NEOs do not participate in a defined benefit plan so no adjustment for pension benefits is included in the table
below
.
 
    
Year
    
Summary Compensation
Table Total
($)
(a)
    
Reported Value of
Equity Awards
(a)

($)
(b)
    
Equity Award
Adjustment
(b)

($)
(c)
   
Compensation
Actually Paid
($)
(a – b + c)
 
Pavel Raifeld
     2024        2,716,420        1,775,340        2,153,712       3,094,792  
     2023        868,648        —         194,385       1,063,033  
     2022        1,798,966        1,044,300        (747,539     7,127  
     2021        1,271,138        580,330        555,909       1,246,717  
     2020        1,943,968        1,570,000        (382,183     (8,215
Geoffrey Hulme
     2020        716,242        224,996        (1,972     489,274  
Non-PEO NEOs
     2024        1,019,955        478,560        319,172       860,567  
     2023        1,125,031        370,304        406,618       1,161,345  
     2022        665,254        120,461        (46,861     497,932  
     2021        614,262        152,086        98,925       561,101  
     2020        558,869        124,996        (38,177     395,696  
       
Non-PEO NEO Average Total Compensation Amount $ 1,019,955 $ 1,125,031 $ 665,254 $ 614,262 $ 558,869
Non-PEO NEO Average Compensation Actually Paid Amount $ 860,567 1,161,345 497,932 561,101 395,696
Adjustment to Non-PEO NEO Compensation Footnote
(2)
The dollar amounts reported in these columns represent the amount of “compensation actually paid” to our NEOs as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to our NEOs during the applicable fiscal year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the total compensation reported for our NEOs in the “Total” column of the Summary Compensation Table to determine the amount of “compensation actually paid” for each year. NEOs do not participate in a defined benefit plan so no adjustment for pension benefits is included in the table
below
.
 
    
Year
    
Summary Compensation
Table Total
($)
(a)
    
Reported Value of
Equity Awards
(a)

($)
(b)
    
Equity Award
Adjustment
(b)

($)
(c)
   
Compensation
Actually Paid
($)
(a – b + c)
 
Pavel Raifeld
     2024        2,716,420        1,775,340        2,153,712       3,094,792  
     2023        868,648        —         194,385       1,063,033  
     2022        1,798,966        1,044,300        (747,539     7,127  
     2021        1,271,138        580,330        555,909       1,246,717  
     2020        1,943,968        1,570,000        (382,183     (8,215
Geoffrey Hulme
     2020        716,242        224,996        (1,972     489,274  
Non-PEO NEOs
     2024        1,019,955        478,560        319,172       860,567  
     2023        1,125,031        370,304        406,618       1,161,345  
     2022        665,254        120,461        (46,861     497,932  
     2021        614,262        152,086        98,925       561,101  
     2020        558,869        124,996        (38,177     395,696  
       
Compensation Actually Paid vs. Total Shareholder Return LOGO        
Compensation Actually Paid vs. Net Income LOGO        
Compensation Actually Paid vs. Company Selected Measure LOGO        
Total Shareholder Return Vs Peer Group LOGO        
Tabular List, Table
Performance Measures
The following list includes the financial performance measures used by the Company to link compensation actually paid to our NEOs to the performance of the Company for the fiscal year ended December 31, 2024. These measures are not ranked.
 
   
Basic EPS
 
   
Gross Revenue
 
   
Amount of Capital Allocation Activities
       
Total Shareholder Return Amount $ 123 113 94 122 88
Peer Group Total Shareholder Return Amount 111 119 114 126 126
Net Income (Loss) $ 23,392,000 $ 179,722,000 $ 220,262,000 $ 368,837,000 $ 293,814,000
Company Selected Measure Amount 0.37 2.75 3.07 3.24 2.21
Measure:: 1          
Pay vs Performance Disclosure          
Name Basic EPS        
Measure:: 2          
Pay vs Performance Disclosure          
Name Gross Revenue        
Measure:: 3          
Pay vs Performance Disclosure          
Name Amount of Capital Allocation Activities        
Pavel Raifeld [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount $ 2,716,420 $ 868,648 $ 1,798,966 $ 1,271,138 $ 1,943,968
PEO Actually Paid Compensation Amount $ 3,094,792 $ 1,063,033 $ 7,127 $ 1,246,717 $ (8,215)
PEO Name Mr. Raifeld Mr. Raifeld Mr. Raifeld Mr. Raifeld Mr. Raifeld
Geoffrey Hulme [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount         $ 716,242
PEO Actually Paid Compensation Amount         $ 489,274
PEO Name         Geoffrey L. Hulme
PEO | Pavel Raifeld [Member] | Equity Awards Adjustments          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 2,153,712 $ 194,385 $ (747,539) $ 555,909 $ (382,183)
PEO | Pavel Raifeld [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,166,571   (340,558) 224,504 (382,183)
PEO | Pavel Raifeld [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (27,153) 224,616 (435,147) 405,433  
PEO | Pavel Raifeld [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 14,294 (30,231) 28,166 (74,028)  
PEO | Pavel Raifeld [Member] | Reported Value of Equity Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,775,340)   (1,044,300) (580,330) (1,570,000)
PEO | Geoffrey Hulme [Member] | Equity Awards Adjustments          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         (1,972)
PEO | Geoffrey Hulme [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         (1,972)
PEO | Geoffrey Hulme [Member] | Reported Value of Equity Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         (224,996)
Non-PEO NEO | Equity Awards Adjustments          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 319,172 406,618 (46,861) 98,925 (38,177)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 260,661 399,658 (44,883) 67,900 (16,695)
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 25,314 8,150 (22,066) 38,700 (12,532)
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 33,197 (1,190) 20,088 (7,675) (8,950)
Non-PEO NEO | Reported Value of Equity Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (478,560) $ (370,304) $ (120,461) $ (152,086) $ (124,996)