0001012477-22-000007 | 10-Q | XBRL Viewer | Avadel Pharmaceuticals PLC

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Cover page - shares	3 Months Ended
Cover page - shares	Mar. 31, 2022	May 04, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity Registrant Name	AVADEL PHARMACEUTICALS PLC
Entity Incorporation, State or Country Code	L2
Entity File Number	000-28508
Entity Tax Identification Number	98-1341933
Entity Address, Address Line One	10 Earlsfort Terrace
Entity Address, City or Town	Dublin 2
Entity Address, Postal Zip Code	D02 T380
Entity Address, Country	IE
Country Region	353
City Area Code	1
Local Phone Number	901-5201
Title of 12(b) Security	Ordinary Shares, nominal value $0.01 per share**
No Trading Symbol Flag	true
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Smaller Reporting Company	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		59,038,237
Entity Central Index Key	0001012477
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
NASDAQ/NMS (GLOBAL MARKET)
Entity Information [Line Items]
Title of 12(b) Security	American Depositary Shares*
Trading Symbol	AVDL
Security Exchange Name	NASDAQ

CONDENSED CONSOLIDATED STATEMENTS OF LOSS - USD ($) shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating expenses:
Research and development expenses	$ 6,991,000	$ 3,852,000
Selling, general and administrative expenses	21,635,000	11,012,000
Restructuring income	0	(53,000)
Total operating expense	28,626,000	14,811,000
Operating loss	(28,626,000)	(14,811,000)
Investment and other (expense) income, net	(137,000)	610,000
Interest expense	(2,017,000)	(1,929,000)
Gain from release of certain liabilities	33,000	78,000
Loss before income taxes	(30,747,000)	(16,052,000)
Income tax benefit	(4,323,000)	(2,607,000)
Net loss	$ (26,424,000)	$ (13,445,000)
Net loss per share - basic (in dollars per share)	$ (0.45)	$ (0.23)
Net loss per share - diluted (in dollars per share)	$ (0.45)	$ (0.23)
Weighted average number of shares outstanding - basic (in shares)	58,824	58,443
Weighted average number of shares outstanding - diluted (in shares)	58,824	58,443

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (26,424)	$ (13,445)
Other comprehensive loss, net of tax:
Foreign currency translation loss	(185)	(718)
Net other comprehensive loss, net of income tax benefit (expense) of $330 and $(55), respectively	(917)	(537)
Total other comprehensive loss, net of tax	(1,102)	(1,255)
Total comprehensive loss	$ (27,526)	$ (14,700)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Unrealized gain (loss) on marketable securities, benefit (tax)	$ (330)	$ (55)

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 60,873	$ 50,708
Marketable securities	62,608	106,513
Research and development tax credit receivable	2,387	2,443
Prepaid expenses and other current assets	34,873	32,826
Total current assets	160,741	192,490
Property and equipment, net	268	285
Operating lease right-of-use assets	2,410	2,652
Goodwill	16,836	16,836
Research and development tax credit receivable	1,237	1,225
Other non-current assets	39,635	33,777
Total assets	221,127	247,265
Current liabilities:
Current portion of long-term debt	26,184	0
Current portion of operating lease liability	917	900
Accounts payable	6,048	7,679
Accrued expenses	9,432	7,151
Other current liabilities	1,442	5,270
Total current liabilities	44,023	21,000
Long-term debt	116,525	142,397
Long-term operating lease liability	1,500	1,707
Other non-current liabilities	3,847	3,917
Total liabilities	165,895	169,021
Shareholders’ equity:
Preferred shares, nominal value of $0.01 per share; 50,000 shares authorized; 488 issued and outstanding at March 31, 2022 and 488 issued and outstanding at December 31, 2021, respectively	5	5
Ordinary shares, nominal value of $0.01 per share; 500,000 shares authorized; 59,032 issued and outstanding at March 31, 2022 and 58,620 issued and outstanding at December 31, 2021	590	586
Additional paid-in capital	553,859	549,349
Accumulated deficit	(474,180)	(447,756)
Accumulated other comprehensive loss	(25,042)	(23,940)
Total shareholders’ equity	55,232	78,244
Total liabilities and shareholders’ equity	$ 221,127	$ 247,265

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred shares, nominal value (in usd per share)	$ 0.01	$ 0.01
Preferred shares, shares authorized (in shares)	50,000,000	50,000,000
Preferred shares, shares issued (in shares)	488,000	488,000
Preferred shares, shares outstanding (in shares)	488,000	488,000
Ordinary shares, nominal value (in usd per share)	$ 0.01	$ 0.01
Ordinary shares, shares authorized (in shares)	500,000,000	500,000,000
Ordinary shares, shares issued (in shares)	59,032,000	58,620,000
Ordinary shares, shares outstanding (in shares)	59,032,000	58,620,000

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Ordinary shares	Preferred shares	Additional paid-in capital	Additional paid-in capital Cumulative Effect, Period of Adoption, Adjustment	Accumulated deficit	Accumulated deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated other comprehensive (loss) income
Beginning balance (in shares) at Dec. 31, 2020			58,396	488
Beginning balance at Dec. 31, 2020	$ 162,266	$ (12,939)	$ 583	$ 5	$ 566,916	$ (26,699)	$ (384,187)	$ 13,760	$ (21,051)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(13,445)						(13,445)
Other comprehensive loss	(1,255)								(1,255)
Exercise of stock options (in shares)			23
Exercise of stock options	106				106
Vesting of restricted shares (in shares)			61
Vesting of restricted shares	0		$ 1		(1)
Employee share purchase plan share issuance (in shares)			8
Employee share purchase plan share issuance	43				43
Stock-based compensation expense	1,728				1,728
Ending balance (in shares) at Mar. 31, 2021			58,488	488
Ending balance at Mar. 31, 2021	136,504		$ 584	$ 5	542,093		(383,872)		(22,306)
Beginning balance (in shares) at Dec. 31, 2021			58,620	488
Beginning balance at Dec. 31, 2021	78,244		$ 586	$ 5	549,349		(447,756)		(23,940)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(26,424)						(26,424)
Other comprehensive loss	(1,102)								(1,102)
Exercise of stock options (in shares)			275
Exercise of stock options	1,906		$ 3		1,903
Vesting of restricted shares (in shares)			119
Vesting of restricted shares	0		$ 1		(1)
Employee share purchase plan share issuance (in shares)			18
Employee share purchase plan share issuance	103				103
Stock-based compensation expense	2,505				2,505
Ending balance (in shares) at Mar. 31, 2022			59,032	488
Ending balance at Mar. 31, 2022	$ 55,232		$ 590	$ 5	$ 553,859		$ (474,180)		$ (25,042)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net loss	$ (26,424,000)	$ (13,445,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	259,000	218,000
Amortization of debt discount and debt issuance costs	312,000	312,000
Change in deferred taxes	(4,323,000)	(2,534,000)
Stock-based compensation expense	2,505,000	1,728,000
Gain from release of certain liabilities	(33,000)	(78,000)
Other adjustments	702,000	561,000
Net changes in assets and liabilities
Prepaid expenses and other current assets	(2,058,000)	(3,736,000)
Research and development tax credit receivable	(19,000)	80,000
Accounts payable & other current liabilities	(5,613,000)	(3,789,000)
Accrued expenses	2,314,000	(2,112,000)
Other assets and liabilities	(1,667,000)	(618,000)
Net cash used in operating activities	(34,045,000)	(23,413,000)
Cash flows from investing activities:
Purchases of property and equipment	0	(26,000)
Proceeds from the disposition of the hospital products	0	8,250,000
Proceeds from sales of marketable securities	44,341,000	40,736,000
Purchases of marketable securities	(2,090,000)	(37,769,000)
Net cash provided by investing activities	42,251,000	11,191,000
Cash flows from financing activities:
Proceeds from stock option exercises and employee share purchase plan	2,009,000	149,000
Net cash provided by financing activities	2,009,000	149,000
Effect of foreign currency exchange rate changes on cash and cash equivalents	(50,000)	(477,000)
Net change in cash and cash equivalents	10,165,000	(12,550,000)
Cash and cash equivalents at January 1,	50,708,000	71,722,000
Cash and cash equivalents at March 31,	60,873,000	59,172,000
Supplemental disclosures of cash flow information:
Interest paid	5,531,000	3,234,000
Income taxes paid	$ 0	$ 0

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Nature of Operations. Avadel Pharmaceuticals plc (Nasdaq: AVDL) (“Avadel,” the “Company,” “we,” “our,” or “us”) is a biopharmaceutical company. The Company is registered as an Irish public limited company. The Company’s headquarters are in Dublin, Ireland with operations in Dublin, Ireland and St. Louis, Missouri, United States (“U.S.”). The Company’s lead product candidate, FT218, is an investigational once-nightly, extended-release formulation of sodium oxybate for the treatment of excessive daytime sleepiness (“EDS”) or cataplexy in adults with narcolepsy. The Company is primarily focused on the development and potential United States (“U.S.”) Food and Drug Administration (“FDA”) approval of FT218. In December 2020, the Company submitted a New Drug Application (“NDA”) to the FDA for FT218 to treat excessive daytime sleepiness or cataplexy in adults with narcolepsy. In February 2021, the NDA for FT218 was accepted by the FDA and was assigned a Prescription Drug User Fee Act (“PDUFA”) target action date of October 15, 2021. On October 15, 2021, the Company announced that the FDA informed Avadel that the review of the NDA for FT218 was ongoing beyond its previously assigned target action date. As of the date of this Quarterly Report, the FDA’s review of the Company’s NDA for FT218 remains ongoing. Outside of the Company’s lead product candidate, the Company continues to evaluate opportunities to expand its product portfolio. As of the date of this Quarterly Report, the Company does not have any approved or commercialized products in its portfolio. Basis of Presentation. The unaudited condensed consolidated balance sheet as of March 31, 2022, which is derived from the prior year 2021 audited consolidated financial statements, and the interim unaudited condensed consolidated financial statements presented herein, have been prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”), the requirements of Form 10-Q and Article 10 of Regulation S-X and, consequently, do not include all information or footnotes required by U.S. GAAP for complete financial statements or all the disclosures normally made in an Annual Report on Form 10-K. Accordingly, the unaudited condensed consolidated financial statements included herein should be read in conjunction with the audited consolidated financial statements and footnotes included in the Company’s 2021 Annual Report on Form 10-K filed with the United States Securities and Exchange Commission (“SEC”) on March 16, 2022. The unaudited condensed consolidated financial statements include the accounts of the Company and subsidiaries, and reflect all adjustments (consisting only of normal recurring adjustments) that are, in the opinion of management, necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the dates and periods presented. All intercompany accounts and transactions have been eliminated. Results for interim periods are not necessarily indicative of the results to be expected during the remainder of the current year or for any future period.

Fair Value Measurement

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurement

The Company is required to measure certain assets and liabilities at fair value, either upon initial recognition or for subsequent accounting or reporting. For example, the Company uses fair value extensively when accounting for and reporting certain financial instruments, when measuring certain contingent consideration liabilities and in the initial recognition of net assets acquired in a business combination. Fair value is estimated by applying the hierarchy described below, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement.

ASC 820, “Fair Value Measurements and Disclosures,” defines fair value as a market-based measurement that should be determined based on the assumptions that marketplace participants would use in pricing an asset or liability. When estimating fair value, depending on the nature and complexity of the asset or liability, the Company may generally use one or each of the following techniques:

•Income approach, which is based on the present value of a future stream of net cash flows.

•Market approach, which is based on market prices and other information from market transactions involving identical or comparable assets or liabilities.

As a basis for considering the assumptions used in these techniques, the standard establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows:

•Level 1 - Quoted prices for identical assets or liabilities in active markets.

•Level 2 - Quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are directly or indirectly observable, or inputs that are derived principally from, or corroborated by, observable market data by correlation or other means.

•Level 3 - Unobservable inputs that reflect estimates and assumptions.

The following table summarizes the financial instruments measured at fair value on a recurring basis classified in the fair value hierarchy (Level 1, 2 or 3) based on the inputs used for valuation in the accompanying unaudited condensed consolidated balance sheets:


	As of March 31, 2022						As of December 31, 2021
Fair Value Measurements:	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3

Marketable securities (see Note 3)
Mutual and money market funds	$	42,776	$	—	$	—	$	78,098	$	—	$	—
Corporate bonds	—		13,912		—		—		16,479		—
Government securities - U.S.	—		3,988		—		—		9,471		—
Other fixed-income securities	—		1,932		—		—		2,465		—
Total assets	$	42,776	$	19,832	$	—	$	78,098	$	28,415	$	—

A review of fair value hierarchy classifications is conducted on a quarterly basis. Changes in the observability of valuation inputs may result in a reclassification for certain financial assets or liabilities. During the periods ended March 31, 2022 and December 31, 2021, respectively, there were no transfers in and out of Level 1, 2, or 3. During the three months ended March 31, 2022 and 2021, respectively, the Company did not recognize any allowances for credit losses.

Some of the Company’s financial instruments, such as cash and cash equivalents and accounts payable, are reflected in the balance sheet at carrying value, which approximates fair value due to their short-term nature.

Debt

The Company estimates the fair value of its $143,750 aggregate principal amount of its 4.50% exchangeable senior notes due February 2023 (the “February 2023 Notes”) based on interest rates that would be currently available to the Company for issuance of similar types of debt instruments with similar terms and remaining maturities or recent trading prices obtained from brokers (a Level 2 input). The estimated fair value of the February 2023 Notes at March 31, 2022 is $145,547. See Note 4: Long-Term Debt for additional information regarding the Company’s debt obligations.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Marketable Securities

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

Marketable Securities The Company has investments in available-for-sale debt securities which are recorded at fair market value. The change in the fair value of available-for-sale debt investments is recorded as accumulated other comprehensive loss in shareholders’ equity, net of income tax effects. As of March 31, 2022, the Company considered any decreases in fair value on its marketable securities to be driven by factors other than credit risk, including market risk.

The following tables show the Company’s available-for-sale securities’ adjusted cost, gross unrealized gains, gross unrealized losses and fair value by significant investment category as of March 31, 2022 and December 31, 2021, respectively:


	March 31, 2022
Marketable Securities:	Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value

Mutual and money market funds	$	43,446	$	341	$	(1,011)	$	42,776
Corporate bonds	14,338		12		(438)		13,912
Government securities - U.S.	4,188		3		(203)		3,988
Other fixed-income securities	1,968		—		(36)		1,932
Total	$	63,940	$	356	$	(1,688)	$	62,608


	December 31, 2021
Marketable Securities:	Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value

Mutual and money market funds	$	78,331	$	813	$	(1,046)	$	78,098
Corporate bonds	16,478		94		(93)		16,479
Government securities - U.S.	9,530		39		(98)		9,471
Other fixed-income securities	2,473		2		(10)		2,465
Total	$	106,812	$	948	$	(1,247)	$	106,513

The Company determines realized gains or losses on the sale of marketable securities on a specific identification method. The Company reflects these gains and losses as a component of investment and other (expense) income, net in the accompanying unaudited condensed consolidated statements of loss.

The Company recognized gross realized gains of $304 and $11 for the three months ended March 31, 2022 and 2021, respectively. These realized gains were offset by realized losses of $790 and $68 for the three months ended March 31, 2022 and 2021, respectively.

The following table summarizes the estimated fair value of the Company’s investments in marketable debt securities, accounted for as available-for-sale debt securities and classified by the contractual maturity date of the securities as of March 31, 2022:


	Maturities
Marketable Debt Securities:	Less than 1 Year		1-5 Years		5-10 Years		Greater than 10 Years		Total

Corporate bonds	$	3,878	$	9,733	$	301	$	—	$	13,912
Government securities - U.S.	—		2,214		722		1,052		3,988

Other fixed-income securities	—		1,384		548		—		1,932
Total	$	3,878	$	13,331	$	1,571	$	1,052	$	19,832

The Company has classified its investment in available-for-sale marketable securities as current assets in the consolidated balance sheets as the securities need to be available for use, if required, to fund current operations. There are no restrictions on the sale of any securities in the Company’s investment portfolio.

The following table shows the gross unrealized losses and fair value of the Company’s available-for-sale debt securities at March 31, 2022. The unrealized losses in the table below are driven by factors other than credit risk. The Company does not intend to sell the investments and it is not more likely than not that it will be required to sell the investments before recovery of their amortized cost bases.


	Less than 12 months				Greater than 12 months				Total
Marketable Debt Securities:	Fair value		Unrealized Losses		Fair value		Unrealized Losses		Fair value		Unrealized Losses
Corporate bonds	$	11,041	$	360	$	1,137	$	78	$	12,178	$	438
Government securities - U.S.	1,975		73		1,892		130		3,867		203
Other fixed-income securities	1,811		36		—		—		1,811		36
Total	$	14,827	$	469	$	3,029	$	208	$	17,856	$	677

Long-Term Debt

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt is summarized as follows:


	March 31, 2022		December 31, 2021
Principal amount of 4.50% exchangeable senior notes due 2023	$	143,750	$	143,750
Less: unamortized debt discount and issuance costs, net	(1,041)		(1,353)
Net carrying amount of debt	142,709		142,397


Less: current maturities, net of $191 unamortized debt discount and issuance costs	26,184		—
Long-term debt	$	116,525	$	142,397

For the three months ended March 31, 2022 and 2021, the total interest expense was $2,017 and $1,929, respectively, with coupon interest expense of $1,617 for each period and the amortization of debt issuance costs and debt discount of $312 for each period. Current period interest expense also included $88 of additional interest expense owed to be in compliance with certain terms of the February 2023 Notes indenture and is not applicable to future periods.

On February 16, 2018, Avadel Finance Cayman Limited, a Cayman Islands exempted company and an indirect wholly-owned subsidiary of the Company (the “Issuer”), issued $125,000 aggregate principal amount of its February 2023 Notes in a private placement (the “Offering”) to qualified institutional buyers pursuant to Rule 144A under the Securities Act. In connection with the Offering, the Issuer granted the initial purchasers of the February 2023 Notes a 30-day option to purchase up to an additional $18,750 aggregate principal amount of the February 2023 Notes, which was fully exercised on February 16, 2018. Net proceeds received by the Company, after issuance costs and discounts, were approximately $137,560. The February 2023 Notes are the Company’s senior unsecured obligations and rank equally in right of payment with all of the Company’s existing and future senior unsecured indebtedness and effectively junior to any of the Company’s existing and future secured indebtedness, to the extent of the value of the assets securing such indebtedness.

On April 5, 2022, the Issuer completed the exchange of $117,375 of its February 2023 Notes for a new series of its Exchangeable Senior Notes due October 2, 2023 (the “October 2023 Notes”, together with the February 2023 Notes, the “2023 Notes”) (the “Exchange Transaction”). The remaining $26,375 aggregate principal amount of the February 2023 Notes were not exchanged and will maintain a maturity date of February 1, 2023. Due to the Exchange Transaction, $117,375 of the February 2023 Notes will be classified as long-term debt as of March 31, 2022.

The 2023 Notes will be exchangeable at the option of the holders at an initial exchange rate of 92.6956 ADSs per $1 principal amount of 2023 Notes (so long as the principal amount of such holder’s 2023 Notes not exchanged is at least $200), which is equivalent to an initial exchange price of approximately $10.79 per ADS. Upon the exchange of any 2023 Notes, the Issuer will pay or cause to be delivered, as the case may be, cash, ADSs or a combination of cash and ADSs, at the Issuer’s election.

February 2023 Notes

Holders of the February 2023 Notes may convert their February 2023 Notes, at their option, only under the following circumstances prior to the close of business on the business day immediately preceding August 1, 2022, under the circumstances and during the periods set forth below and regardless of the conditions described below, on or after August 1, 2022 and prior to the close of business on the business day immediately preceding the maturity date:

•Prior to the close of business on the business day immediately preceding August 1, 2022, a holder of the February 2023 Notes may surrender all or any portion of its February 2023 Notes for exchange at any time during the five business day period immediately after any five consecutive trading day period (the “Measurement Period”) in which the trading price per $1 principal amount of February 2023 Notes, as determined following a request by a holder of the

2023 Notes, for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the ADSs and the exchange rate on each such trading day.

•If a transaction or event that constitutes a fundamental change or a make-whole fundamental change occurs prior to the close of business on the business day immediately preceding August 1, 2022, regardless of whether a holder of the February 2023 Notes has the right to require the Company to repurchase the February 2023 Notes, or if Avadel is a party to a merger event that occurs prior to the close of business on the business day immediately preceding August 1, 2022, all or any portion of a the holder’s February 2023 Notes may be surrendered for exchange at any time from or after the date that is 95 scheduled trading days prior to the anticipated effective date of the transaction (or, if later, the earlier of (x) the business day after the Company gives notice of such transaction and (y) the actual effective date of such transaction) until 35 trading days after the actual effective date of such transaction or, if such transaction also constitutes a fundamental change, until the related fundamental change repurchase date.

•Prior to the close of business on the business day immediately preceding August 1, 2022, a holder of the February 2023 Notes may surrender all or any portion of its February 2023 Notes for exchange at any time during any calendar quarter commencing after the calendar quarter ending on June 30, 2018 (and only during such calendar quarter), if the last reported sale price of the ADSs for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the exchange price on each applicable trading day.

•If the Company calls the February 2023 Notes for redemption pursuant to Article 16 to the Indenture prior to the close of business on the business day immediately preceding August 1, 2022, then a holder of the February 2023 Notes may surrender all or any portion of its February 2023 Notes for exchange at any time prior to the close of business on the second business day prior to the redemption date, even if the February 2023 Notes are not otherwise exchangeable at such time. After that time, the right to exchange shall expire, unless the Company defaults in the payment of the redemption price, in which case a holder of the February 2023 Notes may exchange its February 2023 Notes until the redemption price has been paid or duly provided for.

October 2023 Notes

Holders of the October 2023 Notes may convert their October 2023 Notes, at their option, only under the following circumstances prior to the close of business on the business day immediately preceding May 1, 2023, under the circumstances and during the periods set forth below and regardless of the conditions described below, on or after May 1, 2023 and prior to the close of business on the business day immediately preceding the maturity date:

•Prior to the close of business on the business day immediately preceding May 1, 2023, a holder of the October 2023 Notes may surrender all or any portion of its October 2023 Notes for exchange at any time during the five business day period immediately after any five consecutive trading day period (the “Measurement Period”) in which the trading price per $1 principal amount of October 2023 Notes, as determined following a request by a holder of the October 2023 Notes, for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the ADSs and the exchange rate on each such trading day.

•If a transaction or event that constitutes a fundamental change or a make-whole fundamental change occurs prior to the close of business on the business day immediately preceding May 1, 2023, regardless of whether a holder of the October 2023 Notes has the right to require the Company to repurchase the October 2023 Notes, or if Avadel is a party to a merger event that occurs prior to the close of business on the business day immediately preceding May 1, 2023, all or any portion of a the holder’s October 2023 Notes may be surrendered for exchange at any time from or after the date that is 95 scheduled trading days prior to the anticipated effective date of the transaction (or, if later, the earlier of (x) the business day after the Company gives notice of such transaction and (y) the actual effective date of such transaction) until 35 trading days after the actual effective date of such transaction or, if such transaction also constitutes a fundamental change, until the related fundamental change repurchase date.

•Prior to the close of business on the business day immediately preceding May 1, 2023, a holder of the October 2023 Notes may surrender all or any portion of its October 2023 Notes for exchange at any time during any calendar quarter commencing after the calendar quarter ending on March 31, 2022 (and only during such calendar quarter), if the last reported sale price of the ADSs for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the exchange price on each applicable trading day.

•If the Company calls the October 2023 Notes for redemption pursuant to Article 16 to the Indenture prior to the close of business on the business day immediately preceding May 1, 2023, then a holder of the October 2023 Notes may surrender all or any portion of its October 2023 Notes for exchange at any time prior to the close of business on the second business day prior to the redemption date, even if the October 2023 Notes are not otherwise exchangeable at such time. After that time, the right to exchange shall expire, unless the Company defaults in the payment of the redemption price, in which case a holder of the October 2023 Notes may exchange its October 2023 Notes until the redemption price has been paid or duly provided for.

The Company, at its option, may redeem for cash all of the October 2023 Notes if the last reported sale price (as defined by the indenture) of the ADSs has been at least 130% of the Exchange Price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading-day period ending on, and including, the trading day immediately preceding the date on which the Company provides notice to redeem the October 2023 Notes.

The Company considered the guidance in ASC 815-15, Embedded Derivatives, to determine if this instrument contains an embedded feature that should be separately accounted for as a derivative. ASC 815 provides for an exception to this rule when convertible notes, as host instruments, are deemed to be conventional, as defined by ASC 815-40. The Company determined that this exception applies due, in part, to the Company’s ability to settle the 2023 Notes in cash, ADSs or a combination of cash and ADSs, at the Company’s option. The Company has therefore applied the guidance provided by ASC 470-20, Debt with Conversion and Other Options, as amended by ASU 2020-06.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The income tax benefit was $4,323 for the three months ended March 31, 2022 resulting in an effective tax rate of 14.1%. The income tax benefit was $2,607 for the three months ended March 31, 2021 resulting in an effective tax rate of 16.2%. The increase in the income tax benefit for the three months ended March 31, 2022, when compared to the same period in 2021, is primarily due to an increase in net operating losses recognized in the United States.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

Other Assets and Liabilities

3 Months Ended

Mar. 31, 2022

Other Liabilities Disclosure [Abstract]

Other Assets and Liabilities

Various other assets and liabilities are summarized as follows:


Prepaid Expenses and Other Current Assets:	March 31, 2022		December 31, 2021

Income tax receivable	$	29,122	$	29,097
Prepaid and other expenses	5,317		3,179
Guarantee from Armistice	278		279
Other	156		271
Total	$	34,873	$	32,826


Other Non-Current Assets:	March 31, 2022		December 31, 2021

Deferred tax assets	$	28,578	$	24,128
Right of use assets at contract manufacturing organizations	10,082		8,549
Guarantee from Armistice	702		771
Other	273		329
Total	$	39,635	$	33,777


Accrued Expenses	March 31, 2022		December 31, 2021

Accrued professional fees	$	7,063	$	2,678
Accrued compensation	1,755		3,167
Accrued outsource contract costs	574		1,048
Accrued restructuring	40		41
Customer allowances	—		217
Total	$	9,432	$	7,151


Other Current Liabilities:	March 31, 2022		December 31, 2021

Accrued interest	$	1,094	$	4,920
Guarantee to Deerfield	279		280
Other	69		70
Total	$	1,442	$	5,270


Other Non-Current Liabilities:	March 31, 2022		December 31, 2021

Tax liabilities	$	3,143	$	3,143
Guarantee to Deerfield	704		774
Total	$	3,847	$	3,917

Net Loss Per Share

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Net Loss Per Share

Basic net loss per share is calculated by dividing net loss by the weighted average number of shares outstanding during each period. Diluted net loss per share is calculated by dividing net loss - diluted by the diluted number of shares outstanding during each period. Except where the result would be anti-dilutive to net loss, diluted net loss per share would be calculated assuming the impact of the conversion of the 2023 Notes, the conversion of the Company’s preferred shares, the exercise of outstanding equity compensation awards, and ordinary shares expected to be issued under the Company’s Employee Share Purchase Plan (“ESPP”).

The Company has a choice to settle the conversion obligation under the 2023 Notes in cash, shares or any combination of the two. The Company utilizes the if-converted method to reflect the impact of the conversion of the 2023 Notes, unless the result is anti-dilutive. This method assumes the conversion of the 2023 Notes into shares of the Company’s ordinary shares and reflects the elimination of the interest expense related to the 2023 Notes.

The dilutive effect of the stock options, restricted stock units, preferred shares and ordinary shares expected to be issued under the Company’s ESPP has been calculated using the treasury stock method. The dilutive effect of the performance share unit awards (“PSUs”) will be calculated using the treasury stock method, if and when the contingent vesting condition is achieved.

A reconciliation of basic and diluted net loss per share, together with the related shares outstanding in thousands is as follows:


	Three Months Ended March 31,
Net Loss Per Share:		2022		2021

Net loss		$	(26,424)	$	(13,445)



Weighted average shares:
Basic shares		58,824		58,443
Effect of dilutive securities—employee and director equity awards outstanding, preferred shares and 2023 Notes		—		—

Diluted shares		58,824		58,443

Net loss per share - basic		$	(0.45)	$	(0.23)
Net loss per share - diluted		$	(0.45)	$	(0.23)

Potential ordinary shares of 17,696 and 15,275 were excluded from the calculation of weighted average shares for the three months ended March 31, 2022 and 2021, respectively, because either their effect was considered to be anti-dilutive or they were related to shares from PSUs for which the contingent vesting condition had not been achieved. For the three months ended March 31, 2022 and 2021, the effects of dilutive securities were entirely excluded from the calculation of net loss per share as a net loss was reported in these periods.

Comprehensive Loss

3 Months Ended

Mar. 31, 2022

Stockholders' Equity Note [Abstract]

Comprehensive Loss

The following table shows the components of accumulated other comprehensive loss for the three months ended March 31, 2022 and 2021, respectively, net of tax effects:


	Three Months Ended March 31,
Accumulated Other Comprehensive Loss:		2022		2021

Foreign currency translation adjustment:
Beginning balance		$	(23,855)	$	(22,627)
Net other comprehensive loss		(185)		(718)
Balance at March 31,		$	(24,040)	$	(23,345)

Unrealized (loss) gain on marketable debt securities, net
Beginning balance		$	(85)	$	1,576
Net other comprehensive loss, net of income tax benefit (expense) of $330 and $(55), respectively		(917)		(537)
Balance at March 31,		$	(1,002)	$	1,039
Accumulated other comprehensive loss at March 31,		$	(25,042)	$	(22,306)

The effect on the Company’s unaudited condensed consolidated financial statements of amounts reclassified out of accumulated other comprehensive loss was immaterial for all periods presented.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation The Company is subject to potential liabilities generally incidental to the Company’s business arising out of present and future lawsuits and claims related to product liability, personal injury, contract, commercial, intellectual property, tax, employment, compliance and other matters that arise in the ordinary course of business. The Company accrues for potential liabilities when it is probable that future costs (including legal fees and expenses) will be incurred and such costs can be reasonably estimated. At March 31, 2022 and December 31, 2021, there were no contingent liabilities with respect to any litigation, arbitration or administrative or other proceeding that are reasonably likely to have a material adverse effect on the Company’s consolidated financial position, results of operations, cash flows or liquidity. First Complaint On May 12, 2021, Jazz Pharmaceuticals, Inc. (“Jazz”) filed a formal complaint (the “First Complaint”) initiating a lawsuit in the United States District Court for the District of Delaware (the “Court”) against Avadel Pharmaceuticals plc, Avadel US Holdings, Inc., Avadel Management Corporation, Avadel Legacy Pharmaceuticals, LLC, Avadel Specialty Pharmaceuticals, LLC, and Avadel CNS Pharmaceuticals, LLC (collectively, the “Avadel Parties”). In the First Complaint, Jazz alleges the sodium oxybate product (“Proposed Product”) described in the NDA owned by Avadel CNS Pharmaceuticals, LLC will infringe at least one claim of US Patent No. 8731963, 10758488, 10813885, 10959956 and/or 10966931 (collectively, the “patents-in-suit”). The First Complaint further includes typical relief requests such as preliminary and permanent injunctive relief, monetary damages and attorneys’ fees, costs and expenses. On June 3, 2021, the Avadel Parties timely filed their Answer and Counterclaims (the “Avadel Answer”) with the Court in response to the First Complaint. The Avadel Answer generally denies the allegations set forth in the First Complaint, includes numerous affirmative defenses (including, but not limited to, non-infringement and invalidity of the patents-in-suit), and asserts a number of counterclaims seeking i) a declaratory judgment of non-infringement of each patent-in-suit, and ii) a declaratory judgment of invalidity of each patent-in-suit. On June 18, 2021, Jazz filed its Answer (“Jazz Answer”) with the Court in response to the Avadel Answer. The Jazz Answer generally denies the allegations set forth in the Avadel Answer and sets forth a single affirmative defense asserting that Avadel has failed to state a claim for which relief can be granted. On June 21, 2021, the Court issued an oral order requiring the parties to i) confer regarding proposed dates to be included in the Court’s scheduling order for the case, and ii) submit a proposed order, including a proposal for the length and timing of trial, to the Court by no later than July 21, 2021. On July 30, 2021, the Court issued a scheduling order establishing timing for litigation events including i) a claim construction hearing date of August 2, 2022, and ii) a trial date of October 30, 2023. On October 18, 2021, consistent with the scheduling order, Jazz filed a status update with the Court indicating that Jazz did not intend to file a preliminary injunction with the Court at this time. Jazz further indicated that it would provide the Court with an update regarding whether preliminary injunction proceedings may be necessary after receiving further information regarding the FDA’s action on Avadel’s NDA. On January 4, 2022, the Court entered an agreed order dismissing this case with respect to Avadel Pharmaceuticals plc, Avadel US Holdings, Inc., Avadel Specialty Pharmaceuticals, LLC, Avadel Legacy Pharmaceuticals, LLC, and Avadel Management Corporation. A corresponding order was entered in the two below cases on the same day. On February 25, 2022, Jazz filed an amended Answer to Avadel’s Counterclaims (“the Jazz First Amended Answer”). The Jazz First Amended Answer is substantially similar to the Jazz Answer except insofar as it adds an affirmative defense for judicial estoppel and unclean hands. Corresponding amended Answers were filed in the two below cases on the same day. Second Complaint On August 4, 2021, Jazz filed another formal complaint (the “Second Complaint”) initiating a lawsuit in the Court against the Avadel Parties. In the Second Complaint, Jazz alleges the Proposed Product described in the NDA owned by Avadel CNS Pharmaceuticals, LLC will infringe at least one claim of US Patent No. 11077079. The Second Complaint further includes typical relief requests such as preliminary and permanent injunctive relief, monetary damages and attorneys’ fees, costs and expenses. On September 9, 2021, the Avadel Parties timely filed their Answer and Counterclaims (the “Second Avadel Answer”) with the Court in response to the Second Complaint. The Second Avadel Answer generally denies the allegations set forth in the Second Complaint, includes numerous affirmative defenses (including, but not limited to, non-infringement and invalidity of the patent-in-suit), and asserts a number of counterclaims seeking i) a declaratory judgment of non-infringement of the patent-in-suit, and ii) a declaratory judgment of invalidity of the patent-in-suit. On October 22, 2021, the Court issued an oral order stating that this case should proceed on the same schedule as the case filed on May 12, 2021 Third Complaint On November 10, 2021, Jazz filed another formal complaint (the “Third Complaint”) initiating a lawsuit in the Court against the Avadel Parties. In the Third Complaint, Jazz alleges the Proposed Product described in the NDA owned by Avadel CNS Pharmaceuticals, LLC will infringe at least one claim of US Patent No. 11147782. The Third Complaint further includes typical relief requests such as preliminary and permanent injunctive relief, monetary damages and attorneys’ fees, costs and expenses. This case will proceed on the same schedule as the cases associated with the First and Second Complaints above. On January 7, 2022, Avadel CNS Pharmaceuticals LLC timely filed its Answer and Counterclaims (the “Third Avadel Answer”) with the Court in response to the Third Complaint. The Third Avadel Answer generally denies the allegations set forth in the Third Complaint, includes numerous affirmative defenses (including, but not limited to, non-infringement and invalidity of the patent-in-suit), and asserts a number of counterclaims seeking i) a declaratory judgment of non-infringement of the patent-in-suit, and ii) a declaratory judgment of invalidity/unenforceability of the patent-in-suit. On December 21, 2021, the Court entered a revised schedule for the First, Second and Third Complaints, setting a new claim construction date of August 31, 2022. Material Commitments Other than commitments disclosed in Note 15: Contingent Liabilities and Commitments to the Company's consolidated financial statements included in the 2021 Annual Report on Form 10-K, there were no other material commitments outside of the normal course of business. Guarantees Deerfield Guarantee The fair values of the Company’s guarantee to Deerfield and the guarantee received by the Company from Armistice Capital Master Fund, Ltd. largely offset and when combined are not material. In connection with the Company’s February 2018 divestiture of the Company’s pediatric assets, the Company guaranteed to Deerfield the quarterly royalty payment of 15% on net sales of the FSC products through February 6, 2026 (“FSC Product Royalties”), in an aggregate amount of up to approximately $10,300. Given the Company’s explicit guarantee to Deerfield, the Company recorded the guarantee in accordance with ASC 460. The balance of this guarantee liability was $983 at March 31, 2022. This liability is being amortized proportionately based on undiscounted cash outflows through the remainder of the contract with Deerfield. Armistice Guarantee In connection with the Company’s February 2018 divestiture of the pediatric assets, Armistice Capital Master Fund, Ltd., the majority shareholder of Cerecor, Inc., guaranteed to the Company the FSC Product Royalties. The Company recorded the guarantee in accordance with ASC 460. The balance of this guarantee asset was $980 at March 31, 2022. This asset is being amortized proportionately based on undiscounted cash outflows through the remainder of the contract with Deerfield. Off-Balance Sheet Arrangements As of March 31, 2022, the Company did not have any off-balance sheet arrangements, as defined in Item 303(a)(4)(ii) of Regulation S-K.

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Exchange Transaction Closing On April 5, 2022, Avadel completed the exchange of $117,375 of its February 2023 Notes for a new series of its Exchangeable Senior Notes due October 2, 2023. The remaining $26,375 aggregate principal amount of the February 2023 Notes were not exchanged and will maintain a maturity date of February 1, 2023. The Company paid $4,804 in fees paid to noteholders of the October 2023 Notes and $5,449 in fees paid to third parties as part of the completed Exchange Transaction. See Note 4: Long-Term Debt for additional information regarding the Company’s debt obligations. Jazz Litigation On April 14, 2022, Avadel CNS Pharmaceuticals LLC and Avadel Pharmaceuticals plc (collectively the “Avadel Plaintiffs”) filed a formal complaint (the “Avadel Complaint”) initiating a lawsuit in the Court against Jazz and Jazz Pharmaceuticals Ireland Ltd. (collectively, the “Jazz Parties”). In the Avadel Complaint, the Avadel Plaintiffs allege that the Jazz Parties breached certain confidential disclosure agreements and misappropriated certain of Avadel’s trade secrets. The Avadel Complaint further includes typical relief requests such as injunctive relief, monetary damages and attorneys’ fees, costs and expenses, as well as seeking correction of inventorship of certain Jazz patents to include former Avadel scientists.

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2022
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations. Avadel Pharmaceuticals plc (Nasdaq: AVDL) (“Avadel,” the “Company,” “we,” “our,” or “us”) is a biopharmaceutical company. The Company is registered as an Irish public limited company. The Company’s headquarters are in Dublin, Ireland with operations in Dublin, Ireland and St. Louis, Missouri, United States (“U.S.”). The Company’s lead product candidate, FT218, is an investigational once-nightly, extended-release formulation of sodium oxybate for the treatment of excessive daytime sleepiness (“EDS”) or cataplexy in adults with narcolepsy. The Company is primarily focused on the development and potential United States (“U.S.”) Food and Drug Administration (“FDA”) approval of FT218. In December 2020, the Company submitted a New Drug Application (“NDA”) to the FDA for FT218 to treat excessive daytime sleepiness or cataplexy in adults with narcolepsy. In February 2021, the NDA for FT218 was accepted by the FDA and was assigned a Prescription Drug User Fee Act (“PDUFA”) target action date of October 15, 2021. On October 15, 2021, the Company announced that the FDA informed Avadel that the review of the NDA for FT218 was ongoing beyond its previously assigned target action date. As of the date of this Quarterly Report, the FDA’s review of the Company’s NDA for FT218 remains ongoing. Outside of the Company’s lead product candidate, the Company continues to evaluate opportunities to expand its product portfolio. As of the date of this Quarterly Report, the Company does not have any approved or commercialized products in its portfolio.
Basis of Presentation	Basis of Presentation. The unaudited condensed consolidated balance sheet as of March 31, 2022, which is derived from the prior year 2021 audited consolidated financial statements, and the interim unaudited condensed consolidated financial statements presented herein, have been prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”), the requirements of Form 10-Q and Article 10 of Regulation S-X and, consequently, do not include all information or footnotes required by U.S. GAAP for complete financial statements or all the disclosures normally made in an Annual Report on Form 10-K. Accordingly, the unaudited condensed consolidated financial statements included herein should be read in conjunction with the audited consolidated financial statements and footnotes included in the Company’s 2021 Annual Report on Form 10-K filed with the United States Securities and Exchange Commission (“SEC”) on March 16, 2022. The unaudited condensed consolidated financial statements include the accounts of the Company and subsidiaries, and reflect all adjustments (consisting only of normal recurring adjustments) that are, in the opinion of management, necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the dates and periods presented. All intercompany accounts and transactions have been eliminated. Results for interim periods are not necessarily indicative of the results to be expected during the remainder of the current year or for any future period.

Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis


	As of March 31, 2022						As of December 31, 2021
Fair Value Measurements:	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3

Marketable securities (see Note 3)
Mutual and money market funds	$	42,776	$	—	$	—	$	78,098	$	—	$	—
Corporate bonds	—		13,912		—		—		16,479		—
Government securities - U.S.	—		3,988		—		—		9,471		—
Other fixed-income securities	—		1,932		—		—		2,465		—
Total assets	$	42,776	$	19,832	$	—	$	78,098	$	28,415	$	—

Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale and Equity Securities


	March 31, 2022
Marketable Securities:	Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value

Mutual and money market funds	$	43,446	$	341	$	(1,011)	$	42,776
Corporate bonds	14,338		12		(438)		13,912
Government securities - U.S.	4,188		3		(203)		3,988
Other fixed-income securities	1,968		—		(36)		1,932
Total	$	63,940	$	356	$	(1,688)	$	62,608


	December 31, 2021
Marketable Securities:	Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value

Mutual and money market funds	$	78,331	$	813	$	(1,046)	$	78,098
Corporate bonds	16,478		94		(93)		16,479
Government securities - U.S.	9,530		39		(98)		9,471
Other fixed-income securities	2,473		2		(10)		2,465
Total	$	106,812	$	948	$	(1,247)	$	106,513

Schedule of Contractual Maturity Dates


	Maturities
Marketable Debt Securities:	Less than 1 Year		1-5 Years		5-10 Years		Greater than 10 Years		Total

Corporate bonds	$	3,878	$	9,733	$	301	$	—	$	13,912
Government securities - U.S.	—		2,214		722		1,052		3,988

Other fixed-income securities	—		1,384		548		—		1,932
Total	$	3,878	$	13,331	$	1,571	$	1,052	$	19,832

Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value


	Less than 12 months				Greater than 12 months				Total
Marketable Debt Securities:	Fair value		Unrealized Losses		Fair value		Unrealized Losses		Fair value		Unrealized Losses
Corporate bonds	$	11,041	$	360	$	1,137	$	78	$	12,178	$	438
Government securities - U.S.	1,975		73		1,892		130		3,867		203
Other fixed-income securities	1,811		36		—		—		1,811		36
Total	$	14,827	$	469	$	3,029	$	208	$	17,856	$	677

Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Schedule of Debt

Long-term debt is summarized as follows:


	March 31, 2022		December 31, 2021
Principal amount of 4.50% exchangeable senior notes due 2023	$	143,750	$	143,750
Less: unamortized debt discount and issuance costs, net	(1,041)		(1,353)
Net carrying amount of debt	142,709		142,397


Less: current maturities, net of $191 unamortized debt discount and issuance costs	26,184		—
Long-term debt	$	116,525	$	142,397

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Other Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2022

Other Liabilities Disclosure [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Various other assets and liabilities are summarized as follows:


Prepaid Expenses and Other Current Assets:	March 31, 2022		December 31, 2021

Income tax receivable	$	29,122	$	29,097
Prepaid and other expenses	5,317		3,179
Guarantee from Armistice	278		279
Other	156		271
Total	$	34,873	$	32,826

Schedule of Other Assets, Noncurrent


Other Non-Current Assets:	March 31, 2022		December 31, 2021

Deferred tax assets	$	28,578	$	24,128
Right of use assets at contract manufacturing organizations	10,082		8,549
Guarantee from Armistice	702		771
Other	273		329
Total	$	39,635	$	33,777

Schedule of Accrued Liabilities


Accrued Expenses	March 31, 2022		December 31, 2021

Accrued professional fees	$	7,063	$	2,678
Accrued compensation	1,755		3,167
Accrued outsource contract costs	574		1,048
Accrued restructuring	40		41
Customer allowances	—		217
Total	$	9,432	$	7,151

Schedule of Other Current Liabilities


Other Current Liabilities:	March 31, 2022		December 31, 2021

Accrued interest	$	1,094	$	4,920
Guarantee to Deerfield	279		280
Other	69		70
Total	$	1,442	$	5,270

Schedule Of Long Term Liabilities


Other Non-Current Liabilities:	March 31, 2022		December 31, 2021

Tax liabilities	$	3,143	$	3,143
Guarantee to Deerfield	704		774
Total	$	3,847	$	3,917

Net Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share Reconciliation

A reconciliation of basic and diluted net loss per share, together with the related shares outstanding in thousands is as follows:


	Three Months Ended March 31,
Net Loss Per Share:		2022		2021

Net loss		$	(26,424)	$	(13,445)



Weighted average shares:
Basic shares		58,824		58,443
Effect of dilutive securities—employee and director equity awards outstanding, preferred shares and 2023 Notes		—		—

Diluted shares		58,824		58,443

Net loss per share - basic		$	(0.45)	$	(0.23)
Net loss per share - diluted		$	(0.45)	$	(0.23)

Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2022

Stockholders' Equity Note [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table shows the components of accumulated other comprehensive loss for the three months ended March 31, 2022 and 2021, respectively, net of tax effects:


	Three Months Ended March 31,
Accumulated Other Comprehensive Loss:		2022		2021

Foreign currency translation adjustment:
Beginning balance		$	(23,855)	$	(22,627)
Net other comprehensive loss		(185)		(718)
Balance at March 31,		$	(24,040)	$	(23,345)

Unrealized (loss) gain on marketable debt securities, net
Beginning balance		$	(85)	$	1,576
Net other comprehensive loss, net of income tax benefit (expense) of $330 and $(55), respectively		(917)		(537)
Balance at March 31,		$	(1,002)	$	1,039
Accumulated other comprehensive loss at March 31,		$	(25,042)	$	(22,306)

Fair Value Measurement - Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual and money market funds	$ 62,608	$ 106,513
Mutual and money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual and money market funds	42,776	78,098
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual and money market funds	13,912	16,479
Government securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual and money market funds	3,988	9,471
Other fixed-income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual and money market funds	1,932	2,465
Fair Value Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	42,776	78,098
Fair Value Measurements, Recurring \| Level 1 \| Mutual and money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual and money market funds	42,776	78,098
Fair Value Measurements, Recurring \| Level 1 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual and money market funds	0	0
Fair Value Measurements, Recurring \| Level 1 \| Government securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual and money market funds	0	0
Fair Value Measurements, Recurring \| Level 1 \| Other fixed-income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual and money market funds	0	0
Fair Value Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	19,832	28,415
Fair Value Measurements, Recurring \| Level 2 \| Mutual and money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual and money market funds	0	0
Fair Value Measurements, Recurring \| Level 2 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual and money market funds	13,912	16,479
Fair Value Measurements, Recurring \| Level 2 \| Government securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual and money market funds	3,988	9,471
Fair Value Measurements, Recurring \| Level 2 \| Other fixed-income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual and money market funds	1,932	2,465
Fair Value Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Fair Value Measurements, Recurring \| Level 3 \| Mutual and money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual and money market funds	0	0
Fair Value Measurements, Recurring \| Level 3 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual and money market funds	0	0
Fair Value Measurements, Recurring \| Level 3 \| Government securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual and money market funds	0	0
Fair Value Measurements, Recurring \| Level 3 \| Other fixed-income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual and money market funds	$ 0	$ 0

Fair Value Measurement - Narrative (Details) - 4.50% Exchangeable Senior Notes Due 2023 - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, interest rate, stated percentage	4.50%
Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	$ 143,750	$ 143,750
Debt instrument, interest rate, stated percentage	4.50%	4.50%
Estimated fair value of long-term debt	$ 145,547

Marketable Securities - Summary of Marketable Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Adjusted Cost	$ 63,940	$ 106,812
Unrealized Gains	356	948
Unrealized Losses	(1,688)	(1,247)
Fair Value	62,608	106,513
Mutual and money market funds
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Adjusted Cost	43,446	78,331
Unrealized Gains	341	813
Unrealized Losses	(1,011)	(1,046)
Fair Value	42,776	78,098
Corporate bonds
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Adjusted Cost	14,338	16,478
Unrealized Gains	12	94
Unrealized Losses	(438)	(93)
Fair Value	13,912	16,479
Government securities - U.S.
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Adjusted Cost	4,188	9,530
Unrealized Gains	3	39
Unrealized Losses	(203)	(98)
Fair Value	3,988	9,471
Other fixed-income securities
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Adjusted Cost	1,968	2,473
Unrealized Gains	0	2
Unrealized Losses	(36)	(10)
Fair Value	$ 1,932	$ 2,465

Marketable Securities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Marketable securities, realized gain	$ 304	$ 11
Marketable securities, realized loss	$ 790	$ 68

Marketable Securities - Schedule of Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Total	$ 62,608	$ 106,513
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Less than 1 Year	3,878
1-5 Years	9,733
5-10 Years	301
Greater than 10 Years	0
Total	13,912	16,479
Government securities - U.S.
Debt Securities, Available-for-sale [Line Items]
Less than 1 Year	0
1-5 Years	2,214
5-10 Years	722
Greater than 10 Years	1,052
Total	3,988	9,471
Other fixed-income securities
Debt Securities, Available-for-sale [Line Items]
Less than 1 Year	0
1-5 Years	1,384
5-10 Years	548
Greater than 10 Years	0
Total	1,932	$ 2,465
Total
Debt Securities, Available-for-sale [Line Items]
Less than 1 Year	3,878
1-5 Years	13,331
5-10 Years	1,571
Greater than 10 Years	1,052
Total	$ 19,832

Marketable Securities - Schedule of Unrealized Loss on Investments (Details) $ in Thousands	Mar. 31, 2022 USD ($)
Debt Securities, Available-for-sale [Line Items]
AFS, Less than 12 months, Fair Value	$ 14,827
AFS, Less than 12 months, Gross Unrealized Losses	469
AFS, 12 months or longer, Fair Value	3,029
AFS, 12 months or longer, Gross Unrealized Losses	208
AFS, Total Fair Value	17,856
AFS, Total Gross Unrealized Losses	677
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
AFS, Less than 12 months, Fair Value	11,041
AFS, Less than 12 months, Gross Unrealized Losses	360
AFS, 12 months or longer, Fair Value	1,137
AFS, 12 months or longer, Gross Unrealized Losses	78
AFS, Total Fair Value	12,178
AFS, Total Gross Unrealized Losses	438
Government securities - U.S.
Debt Securities, Available-for-sale [Line Items]
AFS, Less than 12 months, Fair Value	1,975
AFS, Less than 12 months, Gross Unrealized Losses	73
AFS, 12 months or longer, Fair Value	1,892
AFS, 12 months or longer, Gross Unrealized Losses	130
AFS, Total Fair Value	3,867
AFS, Total Gross Unrealized Losses	203
Other fixed-income securities
Debt Securities, Available-for-sale [Line Items]
AFS, Less than 12 months, Fair Value	1,811
AFS, Less than 12 months, Gross Unrealized Losses	36
AFS, 12 months or longer, Fair Value	0
AFS, 12 months or longer, Gross Unrealized Losses	0
AFS, Total Fair Value	1,811
AFS, Total Gross Unrealized Losses	$ 36

Long-Term Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Less: unamortized debt discount and issuance costs, net	$ (191)
Less: current maturities, net of $191 unamortized debt discount and issuance costs	26,184	$ 0
Long-term debt	$ 116,525	142,397
4.50% Exchangeable Senior Notes Due 2023
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	4.50%
Senior Notes
Debt Instrument [Line Items]
Less: unamortized debt discount and issuance costs, net	$ (1,041)	(1,353)
Net carrying amount of debt	142,709	142,397
Senior Notes \| 4.50% Exchangeable Senior Notes Due 2023
Debt Instrument [Line Items]
Principal amount of 4.50% exchangeable senior notes due 2023	$ 143,750	$ 143,750
Debt instrument, interest rate, stated percentage	4.50%	4.50%
Long-term debt	$ 117,375

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Long-Term Debt - Narrative (Details)			3 Months Ended
Long-Term Debt - Narrative (Details)	Apr. 05, 2022 USD ($) day	Feb. 16, 2018 USD ($) day $ / shares Rate	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2021 USD ($)
Schedule of Capitalization, Long-term Debt [Line Items]
Interest expense, debt			$ 2,017,000	$ 1,929,000
Coupon interest expense			1,617,000	1,617,000
Amortization of debt discount and debt issuance costs			312,000	$ 312,000
Long-term debt			116,525,000		$ 142,397,000
ADSs, conversion ratio \| Rate		9269.56%
4.50% Exchangeable Senior Notes Due 2023 \| Convertible Debt
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, face amount		$ 125,000
Option to purchase aggregate principal amount, term		30 days
Option to increase aggregate principal amount		$ 18,750,000
Proceeds from loans or conditional grants		137,560,000
ADS, minimum amount of principal amount for exchange		$ 200
ADS, option price per share (in dollars per share) \| $ / shares		$ 10.79
4.50% Exchangeable Senior Notes Due 2023 \| Senior Notes
Schedule of Capitalization, Long-term Debt [Line Items]
Long-term debt			117,375,000
4.50% Exchangeable Senior Notes Due October 2023 \| Convertible Debt \| Subsequent Event
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, exchange amount	$ 117,375,000
4.50% Exchangeable Senior Notes Due 2023 \| Convertible Debt \| Subsequent Event
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, face amount	$ 26,375,000
4.50% Exchangeable Senior Notes Due 2023 \| Senior Notes
Schedule of Capitalization, Long-term Debt [Line Items]
Additional interest expense			$ 88,000
Debt Instrument, Redemption, Period One \| 4.50% Exchangeable Senior Notes Due 2023 \| Convertible Debt
Schedule of Capitalization, Long-term Debt [Line Items]
Number of business days		5 days
Consecutive business days		5 days
Percentage of product of the last reported sale price of the American Depositary Shares and the exchange rate on each such trading day		98.00%
Debt Instrument, Redemption, Period One \| 4.50% Exchangeable Senior Notes Due October 2023 \| Convertible Debt \| Subsequent Event
Schedule of Capitalization, Long-term Debt [Line Items]
Number of business days	5 days
Consecutive business days	5 days
Percentage of product of the last reported sale price of the American Depositary Shares and the exchange rate on each such trading day	98.00%
Debt Instrument, Redemption, Period Two \| 4.50% Exchangeable Senior Notes Due 2023 \| Convertible Debt
Schedule of Capitalization, Long-term Debt [Line Items]
Threshold trading days \| day		95
Scheduled threshold trading days		35 days
Debt Instrument, Redemption, Period Two \| 4.50% Exchangeable Senior Notes Due October 2023 \| Convertible Debt \| Subsequent Event
Schedule of Capitalization, Long-term Debt [Line Items]
Threshold trading days \| day	95
Scheduled threshold trading days	35 days
Debt Instrument, Redemption, Period Three \| 4.50% Exchangeable Senior Notes Due 2023 \| Convertible Debt
Schedule of Capitalization, Long-term Debt [Line Items]
Threshold trading days \| day		20
Consecutive trading days \| day		30
Threshold percentage of stock price trigger		130.00%
Debt Instrument, Redemption, Period Three \| 4.50% Exchangeable Senior Notes Due October 2023 \| Convertible Debt \| Subsequent Event
Schedule of Capitalization, Long-term Debt [Line Items]
Threshold trading days \| day	20
Consecutive trading days \| day	30
Threshold percentage of stock price trigger	130.00%

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income tax benefit	$ 4,323	$ 2,607
Effective income tax rate	14.10%	16.20%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Other Assets and Liabilities - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Prepaid Expenses and Other Current Assets:
Income tax receivable	$ 29,122	$ 29,097
Prepaid and other expenses	5,317	3,179
Guarantee from Armistice	278	279
Other	156	271
Total	$ 34,873	$ 32,826

Other Assets and Liabilities - Other Non-Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Other Non-Current Assets:
Deferred tax assets	$ 28,578	$ 24,128
Right of use assets at contract manufacturing organizations	10,082	8,549
Guarantee from Armistice	702	771
Other	273	329
Total	$ 39,635	$ 33,777

Other Assets and Liabilities - Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accrued Expenses
Accrued professional fees	$ 7,063	$ 2,678
Accrued compensation	1,755	3,167
Accrued outsource contract costs	574	1,048
Accrued restructuring	40	41
Customer allowances	0	217
Total	$ 9,432	$ 7,151

Other Assets and Liabilities - Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Other Liabilities, Current [Abstract]
Accrued interest	$ 1,094	$ 4,920
Guarantee to Deerfield	279	280
Other	69	70
Other current liabilities	$ 1,442	$ 5,270

Other Assets and Liabilities - Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Other Non-Current Liabilities:
Tax liabilities	$ 3,143	$ 3,143
Guarantee to Deerfield	704	774
Total	$ 3,847	$ 3,917

Net Loss Per Share - Reconciliation of Basic and Diluted Calculation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net loss	$ (26,424)	$ (13,445)
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Basic shares (in shares)	58,824	58,443
Effect of dilutive securities—employee and director equity awards outstanding, preferred shares and 2023 Notes (in shares)	0	0
Diluted shares (in shares)	58,824	58,443
Net loss per share - basic (in dollars per share)	$ (0.45)	$ (0.23)
Net loss per share - diluted (in dollars per share)	$ (0.45)	$ (0.23)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Net Loss Per Share - Narrative (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	17,696	15,275

Comprehensive Income (Loss) - Components (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accumulated Other Comprehensive Loss:
Beginning balance	$ 78,244	$ 162,266
Net other comprehensive loss	(27,526)	(14,700)
Ending balance	55,232	136,504
Accumulated other comprehensive (loss) income
Accumulated Other Comprehensive Loss:
Beginning balance	(23,940)	(21,051)
Ending balance	(25,042)	(22,306)
Foreign currency translation adjustment
Accumulated Other Comprehensive Loss:
Beginning balance	(23,855)	(22,627)
Net other comprehensive loss	(185)	(718)
Ending balance	(24,040)	(23,345)
Unrealized (loss) gain on marketable debt securities, net
Accumulated Other Comprehensive Loss:
Beginning balance	(85)	1,576
Net other comprehensive loss	(917)	(537)
Ending balance	$ (1,002)	$ 1,039

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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+ Details

Comprehensive Loss - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
Unrealized gain (loss) on marketable securities, benefit (tax)	$ (330)	$ (55)

Commitments and Contingencies (Details) $ in Thousands	3 Months Ended
Commitments and Contingencies (Details) $ in Thousands	Mar. 31, 2022 USD ($)
Loss Contingencies [Line Items]
Percentage of royalty payable on net sales	15.00%
Guarantee, liability	$ 983
Guarantee from Armistice	980
Maximum
Loss Contingencies [Line Items]
Guarantee, liability	$ 10,300

Subsequent Events (Details) - Subsequent Event - Convertible Debt $ in Thousands	Apr. 05, 2022 USD ($)
4.50% Exchangeable Senior Notes Due October 2023
Subsequent Event [Line Items]
Debt instrument, exchange amount	$ 117,375
4.50% Exchangeable Senior Notes Due 2023
Subsequent Event [Line Items]
Debt instrument, face amount	26,375
Payments of debt exchange fees	4,804
4.50% Exchangeable Senior Notes Due 2023 \| Unaffiliated Party
Subsequent Event [Line Items]
Payments of debt exchange fees	$ 5,449

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2020-06 [Member]

- Definition

Indicates amendment to accounting standards.

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+ Details