XML 16 R5.htm IDEA: XBRL DOCUMENT v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Operating activities      
Net loss $ (17,426) $ (13,069)  
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Amortization expense 37,466 18,923  
Depreciation expense 817 715  
Deferred income taxes (46) (6,038)  
Stock-based compensation expense 6,035 6,135  
Non-cash lease expense (105) 158  
Non-cash interest expense for amortization of debt discount and issuance costs 2,287 913  
Loss on extinguishment of debt 23,504    
Changes in operating assets and liabilities:      
Accounts receivable 3,993 (5,006)  
Inventory 13,606 330  
Prepaid expenses and other assets (238) 677  
Accounts payable (502) (350)  
Accrued expenses (12,131) (6,838)  
Accrued rebates, returns and discounts (29,589) (21,865)  
Net cash provided by (used in) operating activities 27,671 (25,315)  
Investing activities      
Purchases of property and equipment (176) (108)  
Acquisition of BDSI (net of cash acquired)   (572,069)  
Net cash used in investing activities (176) (572,177)  
Financing activities      
Proceeds from issuances of common stock from employee stock purchase plan 169 203  
Proceeds from the exercise of stock options 3,848 3,261  
Payments made for employee stock tax withholdings (7,736) (3,382)  
Repayment of term notes (25,000)    
Proceeds from term note modification   517,682  
Proceeds from issuances of 2029 Convertible Notes, net of issuance costs of $5,846 235,654    
Repurchase of 2026 Convertible Notes, including premium (138,638)    
Net cash provided by financing activities 68,297 517,764  
Net increase (decrease) in cash, cash equivalents and restricted cash 95,792 (79,728)  
Cash, cash equivalents and restricted cash at beginning of period 176,235 188,973 $ 188,973
Cash, cash equivalents and restricted cash at end of period 272,027 109,245 176,235
Reconciliation of cash, cash equivalents and restricted cash to the Consolidated Balance Sheets:      
Cash and cash equivalents 269,480 106,698 173,688
Restricted cash 2,547 2,547 2,547
Total cash, cash equivalents and restricted cash 272,027 109,245 $ 176,235
Supplemental disclosure of cash flow information      
Cash paid for interest 19,499 5,833  
Cash paid for income taxes 743 2,114  
Supplemental disclosure of non-cash activities      
Acquisition of property and equipment in accounts payable and accrued expenses   $ 148  
Note issuance costs in accounts payable and accrued expenses $ 434