The condensed balance sheets for kaléo at March 31, 2017 and December 31, 2016 and condensed statements of operations for the three months ended March 31, 2017 and 2016, as reported to the Company by kaléo, are provided below:



(In Thousands)	March 31, 2017		December 31, 2016			March 31, 2017			December 31, 2016
Assets:					Liabilities & Equity:
Cash & short-term investments	$	103,274	$	102,329
Restricted cash	30		31		Current liabilities	$	100,299		$	50,134
Other current assets	49,319		15,391		Long term debt, net	143,536			143,380
Property & equipment	12,055		13,011		Other noncurrent liabilities	826			822
Other long-term assets	377		472		Equity	(79,606		)	(63,102		)
Total assets	$	165,055	$	131,234	Total liabilities & equity	$	165,055		$	131,234



	Three Months Ended March 31,
	2017			2016
Revenues & Expenses:
Revenues, net (a)	$	22,488		$	(3,050	)
Cost of goods sold	(5,924		)	(3,622		)
Expenses and other, net (b)	(33,408		)	541
Income tax benefit (expense)	—			(8		)
Net loss	$	(16,844	)	$	(6,139	)
(a) Negative revenues during the first quarter of 2016 relate to the impact of product sales allowances on channel inventory following a product price reset during the quarter. (b) “Expenses and other, net” includes selling, general and administrative expense, research and development expense, gain on contract termination, interest expense and other income (expense), net. Excluding the gain, “Expenses and other, net” would have been a net deduction of $17.5 million in the first quarter of 2016.