| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||
Net loss | |||||||||||
-272,966 | 33,682 | -223,359 | -35,603 | 11,058 | 17,672 | 16,441 | 154,958 | 30,605 | -11,769 | -83,940 | -74,340 |
Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | |||||||||||
Recognition of deferred product revenue - Zanaflex | |||||||||||
- | - | - | - | -22,186 | - | - | - | -371 | - | -9,428 | 0 |
Share-based compensation expense | |||||||||||
14,250 | 21,252 | 32,814 | 36,386 | 33,467 | 29,437 | 25,139 | 21,418 | 19,303 | 17,777 | 12,278 | 9,804 |
Amortization of net premiums and discounts on investments | |||||||||||
1,647 | 1,417 | - | -467 | -3,366 | -3,571 | 2,526 | 4,382 | 6,750 | 4,473 | 4,931 | -3,124 |
Amortization of debt discount and debt issuance costs | |||||||||||
15,724 | 15,822 | 12,153 | 9,717 | 8,562 | 4,291 | - | - | - | - | - | - |
NRI asset acquisition | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 2,686 |
Amortization of revenue interest issuance cost | |||||||||||
- | - | - | - | - | 27 | 50 | 67 | 104 | 96 | 93 | 89 |
Depreciation and amortization expense | |||||||||||
34,573 | 11,479 | 23,234 | 21,582 | 15,012 | 8,473 | 6,999 | 4,663 | 4,625 | 3,951 | 2,762 | 3,480 |
Gain on debt extinguishment | |||||||||||
55,100 | - | - | - | - | - | - | - | - | - | - | - |
Goodwill and intangible asset impairments | |||||||||||
277,561 | - | 296,763 | - | - | - | - | - | - | - | - | - |
Changes in fair value of acquired contingent consideration | |||||||||||
- | - | - | - | - | 2,200 | - | - | - | - | - | - |
Gain on put/call liability | |||||||||||
- | - | - | - | - | 147 | 182 | 701 | -639 | 246 | -300 | -125 |
Intangible asset impairment | |||||||||||
- | - | - | - | - | 6,991 | - | 664 | 13,038 | - | 0 | - |
Change in acquired contingent consideration obligation | |||||||||||
-86,935 | 55,000 | 40,622 | 8,600 | 10,900 | - | - | - | - | - | - | - |
Realized gain on foreign currency transaction | |||||||||||
- | - | -247 | 9,856 | - | - | - | - | - | - | - | - |
Non-cash royalty revenue | |||||||||||
10,271 | 10,291 | 2,705 | - | - | - | - | - | - | - | - | - |
Deferred tax (benefit) provision | |||||||||||
-1,978 | -14,505 | -54,044 | -11,190 | 3,975 | 6,681 | 9,520 | -133,042 | - | - | - | - |
Excess tax charge (benefit) from share-based compensation arrangements | |||||||||||
- | - | - | 15 | -194 | -371 | 91 | - | - | - | - | - |
Changes in assets and liabilities: | |||||||||||
Gain on disposal of property and equipment | |||||||||||
- | - | - | - | - | - | - | - | - | - | 15 | 0 |
Decrease in accounts receivable | |||||||||||
-1,347 | -57,972 | 29,112 | 19,965 | -744 | 1,427 | 4,457 | 3,499 | 556 | 16,533 | 1,116 | -356 |
(Increase) decrease in prepaid expenses and other current assets | |||||||||||
-14,439 | 15,402 | -3,445 | -6,904 | 998 | 4,083 | 377 | 2,961 | 3,375 | 1,892 | 3,320 | -1,300 |
Increase in inventory | |||||||||||
-3,793 | -8,440 | -5,505 | 6,660 | 9,639 | 721 | 5,269 | -7,082 | -8,976 | 31,735 | 619 | 3,330 |
Decrease in non-current portion of deferred cost of license revenue | |||||||||||
- | - | -634 | -634 | -634 | -634 | -634 | -634 | -608 | -660 | 6,710 | 0 |
Decrease in inventory held by others | |||||||||||
- | - | - | - | - | -56 | -145 | -345 | -1,060 | -209 | -78 | -598 |
Decrease in other assets | |||||||||||
-11 | -34 | -4,138 | -34 | -34 | -34 | -34 | 3,753 | 237 | -1 | -6 | 48 |
Decrease in accounts payable, accrued expenses and other current liabilities | |||||||||||
-60,564 | -3,488 | -2,099 | 37,625 | -1,184 | 13,180 | -5,785 | 11,743 | -6,108 | 24,706 | 2,024 | 7,722 |
Decrease in non-current portion of deferred license revenue | |||||||||||
- | - | -9,057 | -9,057 | -9,057 | 9,057 | 9,057 | -9,057 | -8,686 | -9,428 | 95,857 | - |
(Decrease) increase in revenue interest liability interest payable | |||||||||||
- | - | - | - | - | 108 | 18 | 600 | -23 | -76 | 200 | 1,070 |
Decrease in other non-current liabilities | |||||||||||
-431 | 52 | 1,491 | 17 | -198 | -301 | 78 | -22 | 682 | - | 0 | - |
Decrease in deferred product revenueZanaflex | |||||||||||
- | - | - | - | 989 | 2,670 | -2,816 | 1,325 | 697 | - | -1,348 | -46 |
Increase (decrease) in deferred product revenue-Zanaflex | |||||||||||
- | - | - | - | - | - | - | - | - | -592 | -5,053 | 2,512 |
(Increase) decrease in restricted cash | |||||||||||
- | - | - | - | 4,826 | -71 | -103 | 77 | 1 | 1 | 4 | -9 |
Net cash used in operating activities | |||||||||||
-128,167 | 150,793 | 97,136 | 29,649 | 38,481 | 74,649 | 39,285 | 52,119 | 66,336 | -19,215 | 38,634 | -49,155 |
Cash flows from investing activities: | |||||||||||
Purchases of property and equipment | |||||||||||
90,426 | 33,328 | 13,688 | 6,192 | 5,921 | 5,084 | 4,043 | 10,384 | 2,192 | 2,446 | 1,148 | 1,248 |
Purchases of intangible assets | |||||||||||
- | 587 | 688 | 893 | 1,145 | 2,699 | 3,121 | 3,194 | 3,595 | 6,998 | 1,279 | 5,557 |
Acquisitions, net of cash received and gain on foreign currency transaction | |||||||||||
- | - | - | 266,454 | - | 476,151 | 7,499 | - | - | - | - | - |
Purchases of investments | |||||||||||
226,587 | 249,107 | - | 40,215 | 434,670 | 580,381 | 221,429 | 322,455 | 266,736 | 310,955 | 310,378 | 326,034 |
Proceeds from maturities of investments | |||||||||||
316,508 | 98,273 | - | 239,968 | 356,500 | 770,490 | 191,000 | 264,750 | 227,500 | 325,750 | 296,400 | 191,550 |
Net cash provided by (used in) investing activities | |||||||||||
-505 | -176,865 | -10,713 | -73,786 | -85,236 | -293,825 | -45,092 | -71,283 | -45,023 | 5,351 | -16,405 | -141,290 |
Cash flows from financing activities: | |||||||||||
Payments on convertible senior notes exchange | |||||||||||
55,199 | - | - | - | - | - | - | - | - | - | - | - |
Proceeds from issuance of convertible senior notes | |||||||||||
- | - | - | - | - | 345,000 | - | - | - | - | - | - |
Debt issuance costs | |||||||||||
4,670 | 0 | 0 | 1,587 | - | 7,516 | - | - | - | - | - | - |
Proceeds from issuance of common stock and option exercises | |||||||||||
24 | 15,198 | 10,479 | 75,520 | 18,096 | 16,015 | 12,786 | 4,339 | 3,962 | 8,370 | 2,542 | 205,057 |
Repayment of non-controlling interest | |||||||||||
- | - | 2,722 | -27,946 | - | - | - | - | - | - | - | - |
Purchase of treasury stock | |||||||||||
91 | 1,744 | 60 | - | - | - | - | - | - | 329 | 0 | 0 |
Net proceeds from royalty monetizations | |||||||||||
- | - | 50,787 | - | - | - | - | - | - | - | - | - |
Repayment of loans payable | |||||||||||
614 | 657 | 2,409 | - | - | - | - | - | - | - | - | - |
Excess tax (benefit) charge from share-based compensation arrangements | |||||||||||
- | - | - | 15 | -194 | -371 | 91 | - | - | - | - | - |
Repayments of revenue interest liability | |||||||||||
- | - | - | 41 | 501 | 562 | 909 | 1,253 | 1,962 | 6,850 | 7,070 | 1,621 |
Repayments of notes payable | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 187 |
Net cash used in financing activities | |||||||||||
-60,550 | 12,797 | 61,519 | 45,931 | 17,789 | 353,308 | 11,968 | 3,086 | 2,000 | 1,191 | -4,528 | 203,248 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | |||||||||||
62 | -412 | 1,225 | -2,159 | - | - | - | - | - | - | - | - |
Net decrease in cash, cash equivalents and restricted cash | |||||||||||
-189,160 | -13,687 | 149,167 | -364 | -28,966 | 134,133 | 6,161 | -16,078 | 23,313 | -12,673 | 17,701 | 12,802 |
Supplemental disclosure: | |||||||||||
Non-cash debt issuance cost | |||||||||||
490 | - | - | - | - | - | - | - | - | - | - | - |
Cash paid for interest | |||||||||||
6,056 | 6,064 | 6,066 | 6,059 | 7,218 | 4,522 | 2,022 | 1,122 | 3,404 | 3,781 | 4,040 | 3,874 |
Cash paid for taxes | |||||||||||
2,791 | 20,709 | 14,929 | 4,250 | 4,697 | 4,392 | 2,630 | 2,706 | 1,176 | - | 0 | - |
Zanaflex | |||||||||||
Gain on sale of assets | |||||||||||
- | - | 3,534 | - | - | - | - | - | - | - | - | - |
Net proceeds from sale of assets | |||||||||||
- | - | 3,663 | - | - | - | - | - | - | - | - | - |
Qutenza | |||||||||||
Gain on sale of assets | |||||||||||
- | 7,837 | - | - | - | - | - | - | - | - | - | - |
Net proceeds from sale of assets | |||||||||||
- | 7,884 | - | - | - | - | - | - | - | - | - | - |