XML 106 R90.htm IDEA: XBRL DOCUMENT v3.22.4
UNAUDITED QUARTERLY OPERATING RESULTS (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Product revenues, net $ 129,620 $ 127,013 $ 123,549 $ 83,751 $ 27,362 $ 78,843 $ 82,942 $ 87,721 $ 463,933 $ 276,868 $ 310,016
Cost of product revenues (excluding intangible asset amortization) 37,552 30,622 33,684 16,332 11,900 15,934 15,908 15,328 118,190 59,070 69,500
Intangible asset amortization and impairment 42,279 37,552 37,501 18,923 16,795 16,796 16,795 16,795 136,255 67,181 60,680
Total cost of products revenues 79,831 68,174 71,185 35,255 28,695 32,730 32,703 32,123 254,445 126,251 130,180
Gross profit 49,789 58,839 52,364 48,496 (1,333) 46,113 50,239 55,598 209,488 150,617 179,836
Research and development     0 3,983 1,609 1,450 3,462 2,930 3,983 9,451 9,772
Selling, general and administrative 38,032 38,372 41,254 54,528 26,602 30,514 30,368 31,476 172,186 118,960 113,832
Restructuring         4,578         4,578  
Total operating expenses 38,032 38,372 41,254 58,511 32,789 31,964 33,830 34,406 176,169 132,989 123,604
(Loss) income from operations 11,757 20,467 11,110 (10,015) (34,122) 14,149 16,409 21,192 33,319 17,628 56,232
Interest expense (20,575) (19,046) (17,761) (5,831) (4,757) (5,115) (5,421) (5,721) (63,213) (21,014) (28,882)
Interest income 1,027 11 5 4 3 3 3 3 1,047 12 232
(Loss) income before income taxes (7,791) 1,432 (6,646) (15,842) (38,876) 9,037 10,991 15,474 (28,847) (3,374) 27,582
(Benefit from) provision for income taxes (592) 975 (1,455) (2,773) (13,842) 991 (61,852) (188) (3,845) (74,891) 830
Net (loss) income $ (7,199) $ 457 $ (5,191) $ (13,069) $ (25,034) $ 8,046 $ 72,843 $ 15,662 $ (25,002) $ 71,517 $ 26,752
(Loss) earnings per share - basic (in dollars per share) $ (0.21) $ 0.01 $ (0.15) $ (0.39) $ (0.73) $ 0.23 $ 2.06 $ 0.45 $ (0.74) $ 2.05 $ 0.78
Weighted-average shares - basic (in shares) 33,582,202 34,058,802 34,001,553 33,673,912 34,123,309 35,373,909 35,302,608 34,951,740 33,829,495 34,936,817 34,407,959
(Loss) earnings per share - diluted (in dollars per share) $ (0.21) $ 0.01 $ (0.15) $ (0.39) $ (0.73) $ 0.22 $ 1.79 $ 0.41 $ (0.74) $ 1.86 $ 0.76
Weighted-average shares - diluted (in shares) 33,582,202 34,570,319 34,001,553 33,673,912 34,123,309 36,261,174 41,286,853 41,160,092 33,829,495 41,045,805 35,151,353
Selling, general and administrative expenses                      
Litigation settlements         $ 2,935            
Xtampza ER                      
Product revenues, net                 $ 138,804 $ 103,708 $ 127,984
Nucynta Products                      
Intangible asset amortization and impairment                 67,181 67,181 $ 60,680
Estimates of Product Returned [Member] | Adjustment                      
Product revenues, net         38,329       $ 4,684 $ (26,644)  
Estimates of Product Returned [Member] | Adjustment | Xtampza ER                      
Product revenues, net         (13,787)            
Estimates of Product Returned [Member] | Adjustment | Nucynta Products                      
Product revenues, net         $ (24,542)