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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 17 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Operating activities          
Net income (loss)     $ 16,215 $ (17,803)  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:          
Amortization expense $ 36,317 $ 37,552 111,246 93,976  
Depreciation expense     2,547 1,859  
Deferred income taxes     (1,815) (7,313)  
Stock-based compensation expense     20,134 17,204  
Non-cash lease (benefit) expense     (258) 341  
Non-cash interest expense for amortization of debt discount and issuance costs     6,672 5,902  
Loss on extinguishment of debt     23,504    
Net amortization of premiums and discounts on investments     (667)    
Changes in operating assets and liabilities:          
Accounts receivable     1,268 (34,063)  
Inventory     12,376 30,124  
Prepaid expenses and other assets     42 998  
Accounts payable     106 3,436  
Accrued liabilities     (4,479) (24,719)  
Accrued rebates, returns and discounts     14,520 (12,040)  
Operating lease assets and liabilities       3  
Net cash provided by operating activities     201,411 57,905  
Investing activities          
Purchases of property and equipment     (297) (682)  
Acquisition of BDSI (net of cash acquired)       (572,069)  
Purchases of marketable securities     (51,418)    
Maturities of marketable securities     6,000    
Net cash used in investing activities     (45,715) (572,751)  
Financing activities          
Proceeds from issuances of common stock from employee stock purchase plan     460 337  
Proceeds from the exercise of stock options     5,401 4,948  
Payments made for employee stock tax withholdings     (8,128) (3,999)  
Repurchases of common stock, including the ASR agreement     (50,000) (6,422)  
Repayment of term notes     (116,667) (50,000)  
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 (used in) provided by financing activities     (72,352) 462,546  
Net increase (decrease) in cash, cash equivalents and restricted cash     83,344 (52,300)  
Cash, cash equivalents and restricted cash at beginning of period     176,235 188,973  
Cash, cash equivalents and restricted cash at end of period 259,579 136,673 259,579 136,673 $ 176,235
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets:          
Cash and cash equivalents 258,532 134,126 258,532 134,126 173,688
Restricted cash 1,047 2,547 1,047 2,547 2,547
Total cash, cash equivalents and restricted cash $ 259,579 $ 136,673 259,579 136,673 $ 176,235
Supplemental disclosure of cash flow information          
Cash paid for interest     57,679 35,280  
Cash paid for income taxes     17,293 10,037  
Supplemental disclosure of non-cash activities          
Acquisition of property and equipment in accounts payable and accrued liabilities     $ 53 $ 260