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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Operating activities          
Net loss     $ (4,419) $ (18,260)  
Adjustments to reconcile net loss to net cash provided by operating activities:          
Amortization expense $ 37,463 $ 37,501 74,929 56,424  
Depreciation expense     1,712 1,371  
Deferred income taxes     (682) (9,410)  
Stock-based compensation expense     13,107 11,827  
Non-cash lease (benefit) expense     (213) 429  
Non-cash interest expense for amortization of debt discount and issuance costs     4,548 3,435  
Loss on extinguishment of debt     23,504    
Net amortization of premiums and discounts on investments     (98)    
Changes in operating assets and liabilities:          
Accounts receivable     15,640 (36,165)  
Inventory     20,475 17,007  
Prepaid expenses and other assets     (1,749) 245  
Accounts payable     (1,075) 2,426  
Accrued expenses     (884) (7,659)  
Accrued rebates, returns and discounts     (17,402) (6,538)  
Operating lease assets and liabilities       4  
Net cash provided by operating activities     127,393 15,136  
Investing activities          
Purchases of property and equipment     (232) (569)  
Acquisition of BDSI (net of cash acquired)       (572,069)  
Purchases of marketable securities     (41,661)    
Net cash used in investing activities     (41,893) (572,638)  
Financing activities          
Proceeds from issuances of common stock from employee stock purchase plan     169 203  
Proceeds from the exercise of stock options     5,099 4,806  
Payments made for employee stock tax withholdings     (7,956) (3,893)  
Repayment of term notes     (70,833) (25,000)  
Proceeds from term note modification       517,682  
Proceeds from issuances of 2029 Convertible Notes, net of issuance costs of $6,280     235,220    
Repurchase of 2026 Convertible Notes, including premium     (138,638)    
Net cash provided by financing activities     23,061 493,798  
Net increase (decrease) in cash, cash equivalents and restricted cash     108,561 (63,704)  
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 284,796 125,269 284,796 125,269 176,235
Reconciliation of cash, cash equivalents and restricted cash to the Consolidated Balance Sheets:          
Cash and cash equivalents 283,749 122,722 283,749 122,722 173,688
Restricted cash 1,047 2,547 1,047 2,547 2,547
Total cash, cash equivalents and restricted cash $ 284,796 $ 125,269 284,796 125,269 $ 176,235
Supplemental disclosure of cash flow information          
Cash paid for interest     37,187 17,752  
Cash paid for income taxes     $ 10,011 6,776  
Supplemental disclosure of non-cash activities          
Acquisition of property and equipment in accounts payable and accrued expenses       $ 105