CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2021 |
Dec. 31, 2020 |
| Operating Activities |
|
|
| Net loss |
$ (1,281)
|
$ (28,144)
|
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |
|
|
| Depreciation and amortization |
29,077
|
26,431
|
| Amortization of debt discount, debt issuance costs and royalty rights |
194
|
5,680
|
| Stock-based compensation |
3,545
|
10,924
|
| Provisions for inventory and other assets |
1,368
|
3,817
|
| Loss on impairment of goodwill |
0
|
17,432
|
| Loss on disposal of equipment and early termination of leases |
0
|
1,588
|
| Income tax provision |
0
|
(8,424)
|
| Gain (loss) on extinguishment and prepayment of debt |
0
|
56,113
|
| Recurring fair value measurement of assets and liabilities |
3,913
|
5,129
|
| Changes in assets and liabilities: |
|
|
| Accounts receivable |
(11)
|
19,800
|
| Inventories |
4,268
|
(291)
|
| Prepaid and other assets |
3,079
|
10,797
|
| Income taxes |
522
|
(8,973)
|
| Accounts payable and other accrued liabilities |
(28,699)
|
(36,479)
|
| Accrued rebates, returns and discounts |
(10,452)
|
(29,066)
|
| Net cash provided by (used in) operating activities |
5,523
|
(65,572)
|
| Investing Activities |
|
|
| Cash acquired in Zyla Merger |
0
|
7,585
|
| Purchases of property and equipment |
(53)
|
(10)
|
| Purchase of Otrexup |
(18,472)
|
0
|
| Proceeds from sale of investments |
0
|
6,000
|
| Net cash (used in) provided by investing activities |
(18,525)
|
512,801
|
| Financing Activities |
|
|
| Payment of contingent consideration |
(4,807)
|
(3,016)
|
| Payment of Royalty Rights |
(968)
|
(500)
|
| Payments in connection with Senior Notes settlement |
0
|
(171,775)
|
| Payments on Revolver |
0
|
(10,000)
|
| Proceeds from issuance of common stock |
44,861
|
88
|
| Proceeds from exercise of stock options |
193
|
0
|
| Shares withheld for payment of employee's withholding tax liability |
(418)
|
(866)
|
| Net cash provided by (used in) financing activities |
29,026
|
(468,550)
|
| Net increase (decrease) in cash and cash equivalents |
16,024
|
(21,321)
|
| Cash and cash equivalents at beginning of year |
20,786
|
42,107
|
| Cash and cash equivalents at end of period |
36,810
|
20,786
|
| Supplemental Disclosure of Cash Flow Information |
|
|
| Net cash refund of income taxes |
0
|
1,136
|
| Cash paid for interest |
10,124
|
17,598
|
| Supplemental Disclosure of Non-Cash Investing Activities |
|
|
| Acquisition of Otrexup intangible assets |
26,021
|
0
|
| Convertible debt |
|
|
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |
|
|
| Gain (loss) on extinguishment and prepayment of debt |
|
47,880
|
| Convertible debt | Convertible Senior Notes, 2.5% |
|
|
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |
|
|
| Gain (loss) on extinguishment and prepayment of debt |
0
|
|
| Financing Activities |
|
|
| Payments in connection with convertible notes |
(335)
|
(264,731)
|
| Senior Notes |
|
|
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |
|
|
| Gain (loss) on extinguishment and prepayment of debt |
0
|
8,233
|
| Senior Notes | 13% Senior Secured Note due 2024 |
|
|
| Financing Activities |
|
|
| Payments in connection with convertible notes |
(9,500)
|
(14,750)
|
| Senior Notes | Promissory note |
|
|
| Financing Activities |
|
|
| Payments in connection with convertible notes |
0
|
(3,000)
|
| Gralise |
|
|
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |
|
|
| Gain (loss) on sale |
0
|
(126,655)
|
| Investing Activities |
|
|
| Proceeds from sale |
0
|
130,261
|
| NUCYNTA |
|
|
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |
|
|
| Gain (loss) on sale |
0
|
14,749
|
| Investing Activities |
|
|
| Proceeds from sale |
$ 0
|
$ 368,965
|