XML 29 R19.htm IDEA: XBRL DOCUMENT v3.23.3

Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Summary of Impact of Accounts Receivable Reserves on Gross Trade Accounts Receivable Balances

The following table summarizes the impact of accounts receivable reserves on the gross trade accounts receivable balances as of September 30, 2023 and December 31, 2022:

In thousands		September 30, 2023				December 31, 2022
Gross trade accounts receivable		$	173,172			$	187,418
Trade allowances			(38,790	)			(44,626	)
Chargebacks			(11,982	)			(11,802	)
Accounts receivable, net		$	122,400			$	130,990

Calculation of Net Loss and Number of Shares Used to Compute Basic and Diluted Net Loss per Share

The calculation of net loss and the number of shares used to compute basic and diluted net loss per share for the three and nine months ended September 30, 2023 and 2022 are as follows:

	For the Three Months Ended September 30,								For the Nine Months Ended September 30,
In thousands	2023				2022				2023				2022
Net loss—basic and diluted	$	(19,311	)		$	(5,140	)		$	(53,331	)		$	(106,659	)
Weighted average shares outstanding—basic and diluted		408,417				404,614				407,489				399,944
Net loss per share—basic and diluted (1)	$	(0.05	)		$	(0.01	)		$	(0.13	)		$	(0.27	)

(1) Excluding the licensing revenue change in estimate and Medicaid change in estimate, both discussed in Note 7 – Revenue Recognition, net loss per share basic and diluted for the three and nine months ended September 30, 2023 would have been $(0.06) and $(0.19), respectively.

Anti-Dilutive Securities Not Included in the Computation of Net Loss per Share

For the three and nine months ended September 30, 2023 and 2022, the following potentially dilutive securities were not included in the computation of net loss per share because the effect would be anti-dilutive or because performance criteria were not yet met for awards contingent upon such measures:

		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
In thousands		2023				2022				2023				2022
Stock options			27,797				19,040				27,797				19,040
Restricted stock and restricted stock units			13,676				14,663				13,676				14,663

Estimated Fair Value of Assets and Liability

The following tables present information about the estimated fair value of the Company’s assets and liabilities as of September 30, 2023 and December 31, 2022 and indicate the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value:

		September 30, 2023
In thousands		Total				Level 1				Level 2				Level 3
Asset:
Money Market Fund		$	179,173			$	179,173			$	—			$	—
U.S. Treasury Securities			24,686				24,686				—				—
Agency Securities			18,762				—				18,762				—
Commercial Paper			4,769				—				4,769				—
Repo Securities			3,250				—				3,250				—
Certificate of Deposit			1,600				—				1,600				—
Total		$	232,240			$	203,859			$	28,381			$	—

		December 31, 2022
In thousands		Total				Level 1				Level 2				Level 3
Asset:
Money Market Fund		$	81,870			$	81,870			$	—			$	—
Commercial Paper			62,347				—				62,347				—
Corporate Bonds			28,416				—				28,416				—
Certificate of Deposit			9,100				—				9,100				—
Repo Securities			3,250				—				3,250				—
U.S. Treasury Securities			3,117				3,117				—				—
Agency Securities			1,554				1,554				—				—
Non-US Government Securities			1,393				—				1,393				—
Asset-Backed Securities			1,260				—				1,260				—
Total		$	192,307			$	86,541			$	105,766			$	—

Summary of Restructuring Charges

The following table sets forth the components of the Company's restructuring charges for the three and nine months ended September 30, 2023 and 2022:

		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
In thousands		2023				2022				2023				2022
Employee restructuring separation charges		$	—			$	230			$	10,154			$	9,353
Vendor contract charges			711				3,263				589				4,353
Total restructuring expense			711				3,493				10,743				13,706
Restructuring inventory			12,674				3,078				39,228				18,078
Stock forfeitures			1,034				137				1,034				591
Total restructuring costs incurred		$	14,419			$	6,708			$	51,005			$	32,375

Change in Restructuring Liability

The following table shows the change in restructuring liability which is included within accrued expenses and other current liabilities:

In thousands		Restructuring Liability
Balance at December 31, 2022		$	192
Costs incurred			51,005
Payments			(21,518	)
Balance at September 30, 2023		$	29,679

X

- References

No definition available.

+ Details

Name:	us-gaap_AccountingPoliciesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2C
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

+ Details

Name:	us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

+ Details

Name:	us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

+ Details

Name:	us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 5.P.3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479823/420-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482017/420-10-50-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 5.P.4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2

+ Details

Name:	us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482017/420-10-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2

+ Details

Name:	us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration