XOMA Corporation
(NASDAQ:XOMA)

XOMA Corporation, a biotech royalty aggregator, discovers and develops therapeutic candidates in the United States, Europe, and the Asia Pacific. The company has a pipeline of monoclonal antibodies and technologies to license to pharmaceutical and biotechnology companies to further their clinical de...

Website: http://www.xoma.com

Founded: 1981

Full Time Employees: 11

Sector: Healthcare

Industry: Biotechnology

Pharmaceuticals Healthcare

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At a glance:

Bull Thesis:

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Main Competitors:

Moat:

Income Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31

income and revenues:
income from purchased receivables under the eir method	9,239,000	7,706,000	6,962,000	6,007,000	6,070,000
income from purchased receivables under the cost recovery method	2,769,000	4,619,000	1,857,000	1,743,000	5,525,000
revenue from contracts with customers		1,100,000	225,000	5,025,000	4,000,000	600,000	25,000	5,025,000	1,000,000	1,300,000	225,000	1,125,000		850,000	25,000	525,000	2,750,000	35,424,000	550,000	525,000	19,000	27,188,000	200,000	53,000	500,000	100,000	8,525,000	625,000	8,026,000	1,550,000	775,000	2,341,000	401,000
revenue recognized under units-of-revenue method	310,000	332,000	307,000	354,000	317,000	1,742,000	709,000	629,000	490,000	533,000	605,000	533,000	437,000	636,000	426,000	458,000	357,000	521,000	390,000	376,000	356,000	393,000	357,000	391,000	304,000	322,000	330,000	337,000	105,000	135,000	121,000	-86,000	62,000
total income and revenues	12,318,000	13,757,000	9,351,000	13,129,000	15,912,000	8,714,000	7,197,000	11,086,000
operating expenses:
research and development	49,000	281,000	69,000	69,000	1,293,000	864,000	817,000	1,161,000	33,000	25,000	25,000	39,000	54,000	28,000	29,000	40,000	56,000	42,000	30,000	38,000	61,000	36,000	34,000	38,000	62,000	130,000	143,000	724,000	256,000	237,000	637,000	376,000	432,000	660,000	307,000	2,916,000	3,993,000	8,248,000	8,674,000	13,703,000	13,610,000	13,597,000	17,559,000	19,692,000	20,004,000	19,377,000	20,235,000	19,590,000	21,546,000	22,946,000	18,198,000	17,049,000	16,590,000	15,732,000	18,381,000	18,441,000	15,771,000	16,658,000	15,851,000	18,281,000	17,347,000	14,569,500	21,345,000	19,346,000	17,587,000	14,659,000	13,444,000	13,507,000	16,521,000	20,132,000	19,714,000	23,519,000	19,211,000	18,351,000	14,620,000	17,315,000	15,929,000	15,138,000	12,671,000	12,104,000	12,181,000	10,964,000	9,383,000	9,547,000	10,002,000	11,345,000	12,562,000	12,862,000	13,015,000
general and administrative	11,857,000	10,410,000	9,734,000	7,802,000	8,146,000	6,993,000	8,020,000	11,004,000	8,461,000	7,265,000	6,368,000	5,777,000	6,196,000	7,571,000	4,794,000	5,710,000	5,116,000	5,538,000	4,255,000	3,927,000	6,741,000	3,673,000	3,212,000	3,557,000	6,358,000	4,293,000	5,821,000	4,949,000	5,939,000	4,327,000	4,657,000	4,411,000	5,168,000	6,712,000	7,255,000	5,203,000	5,167,000																																	5,161,000	6,724,000	6,388,000	5,872,000	5,517,000	5,803,000	4,352,000	4,909,000	4,460,000	4,189,000	4,386,000	5,053,000	4,095,000	3,243,000	3,709,000	3,751,000	4,066,000	4,015,000	3,588,000	3,935,000
amortization of intangible assets	892,000	884,000	878,000	655,000	544,000					224,000	224,000	224,000	225,000
total operating expenses	12,798,000	11,575,000	10,681,000	8,526,000	9,983,000	15,967,000	22,837,000	21,165,000	8,494,000	21,767,000	6,617,000	7,615,000	10,607,000	7,696,000	4,823,000	5,750,000	5,172,000	5,580,000	4,285,000	3,965,000	6,802,000	3,709,000	3,246,000	3,595,000	6,420,000	4,423,000	5,964,000	5,673,000	6,195,000	5,107,000	6,203,000	5,246,000	5,600,000	7,368,000	7,533,000	9,579,000	11,180,000	17,983,000	12,727,000	18,461,000	17,951,000	19,442,000	25,752,000	24,752,000	25,224,000	23,475,000	25,589,000	24,750,000	26,884,000	28,113,000	23,535,000	21,230,000	20,777,000	20,010,000	23,404,000	22,765,000	24,227,000	21,893,000	23,147,000	24,394,000	22,716,000	18,763,500	27,542,000	24,372,000	23,140,000	19,423,000	20,643,000	19,474,000	25,930,000
income from operations	-480,000	2,182,000	-1,330,000	4,603,000	5,929,000	-7,253,000	-15,640,000	-10,079,000	-7,004,000	-19,934,000	-5,787,000	-5,957,000	-10,170,000	-6,210,000	-4,372,000	-4,767,000	-2,065,000	30,365,000	-3,345,000	-3,064,000	-6,427,000	23,872,000	-2,689,000	-3,151,000	-5,616,000	-4,001,000	2,891,000	-4,711,000	1,936,000	-3,422,000	-5,307,000	-2,991,000	-5,137,000	-2,011,000	28,650,000	1,311,000	-10,920,000	-17,459,000	-12,092,000	-18,018,000	-13,989,000	28,741,000	-23,678,000	-22,213,000	-22,573,000	-19,127,000	-20,453,000	-18,777,000	-23,474,000	-15,579,000	-17,223,000	-14,079,000	-11,324,000	-12,618,000	-16,153,000	-13,490,000	-14,362,000	-12,046,000	-6,918,000	-7,869,000	-7,121,000	-16,091,000	-16,645,000	-18,430,000	-15,938,000	2,174,000	6,780,000	-9,768,000	13,774,000	11,627,000	-18,544,000	-18,791,000	-13,026,000	-9,144,000	22,717,000	-7,531,000	-8,586,000	-10,571,000	-9,505,000	-8,978,000	-11,630,000	-8,968,000	-8,200,000	-8,097,000	-10,760,000	-17,340,000	-19,875,000	-20,863,000	-20,018,000
yoy	-108.10%	-130.08%	-91.50%	-145.67%	-184.65%	-63.61%	170.26%	69.20%	-31.13%	221.00%	32.37%	24.96%	392.49%	-120.45%	30.70%	55.58%	-67.87%	27.20%	24.40%	-2.76%	14.44%	-696.65%	-193.01%	-33.11%	-390.08%	16.92%	-154.48%	57.51%	-137.69%	70.16%	-118.52%	-328.15%	-52.96%	-88.48%	-336.93%	-107.28%	-21.94%	-160.75%	-48.93%	-18.89%	-38.03%	-250.26%	15.77%	18.30%	-3.84%	22.77%	18.75%	33.37%	107.29%	23.47%	6.62%	4.37%	-21.15%	4.75%	133.49%	71.43%	101.69%	-25.14%	-58.44%	-57.30%	-55.32%	-840.16%	-345.50%	88.68%	-215.71%	-81.30%	-136.56%	-48.02%	-205.74%	-227.15%	-181.63%	149.52%	51.71%	-13.50%	-339.00%	-16.12%	-26.17%	17.87%	15.91%	10.88%	8.09%	-48.28%	-58.74%	-61.19%	-46.25%
qoq	-122.00%	-264.06%	-128.89%	-22.36%	-181.75%	-53.63%	55.17%	43.90%	-64.86%	244.46%	-2.85%	-41.43%	63.77%	42.04%	-8.29%	130.85%	-106.80%	-1007.77%	9.17%	-52.33%	-126.92%	-987.76%	-14.66%	-43.89%	40.36%	-238.40%	-161.37%	-343.34%	-156.58%	-35.52%	77.43%	-41.78%	155.45%	-107.02%	2085.35%	-112.01%	-37.45%	44.38%	-32.89%	28.80%	-148.67%	-221.38%	6.60%	-1.59%	18.02%	-6.48%	8.93%	-20.01%	50.68%	-9.55%	22.33%	24.33%	-10.26%	-21.88%	19.74%	-6.07%	19.23%	74.13%	-12.09%	10.50%	-55.75%	-3.33%	-9.69%	15.64%	-833.12%	-67.94%	-169.41%	-170.92%	18.47%	-162.70%	-1.31%	44.26%	42.45%	-140.25%	-401.65%	-12.29%	-18.78%	11.22%	5.87%	-22.80%	29.68%	9.37%	1.27%	-24.75%	-37.95%	-12.75%	-4.74%	4.22%
operating margin %	-Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-470.07%	-1087.51%	-697.23%	-359.29%	-2327.23%	-417.90%	-969.40%	-484.94%	-66.46%	84.48%	-355.85%	-340.07%	-1713.87%	86.55%	-482.76%	-709.68%	-698.51%	-948.10%	32.65%	-489.71%	23.81%	-203.09%	-592.30%	-132.64%	-1109.50%	-37.54%	79.18%	12.04%	-4200.00%	-3331.87%	-1904.25%	-4067.27%	-353.08%	59.65%	-1141.66%	-874.87%	-851.49%	-439.90%	-398.23%	-314.36%	-688.39%	-124.29%	-272.86%	-196.88%	-119.79%	-170.70%	-222.77%	-145.44%	-145.59%	-122.33%	-42.63%	-47.62%	-45.66%	-167.61%	-152.75%	-310.16%	-221.30%	10.07%	24.72%	-100.64%	34.69%	31.49%	-234.91%	-169.04%	-108.04%	-62.10%	52.66%	-53.28%	-70.08%	-117.10%	-129.23%	-119.52%	-207.53%	-147.23%	-185.27%	-156.95%	-359.51%	-803.52%	-3555.46%	-2681.62%	-11775.29%
other income, net:
gains on acquisitions	3,545,000	3,220,000	18,004,000
interest expense	-3,359,000	-3,027,000	-3,301,000	-3,236,000	-3,467,000	-3,394,000	-3,493,000	-3,402,000	-3,551,000											-172,000	-289,000	-360,000	-434,000	-508,000	-542,000	-583,000	-484,000	-423,000	-429,000	-365,000	-209,000	-178,000	-170,000	-130,000	-202,000	-297,000	-609,000	-955,000	-982,000	-1,007,000	-1,002,000	-1,042,000	-1,030,000	-1,007,000	-1,115,000	-1,008,000	-1,060,000	-1,110,000	-1,125,000	-1,136,000	-1,159,000	-1,164,000	-1,172,000	-1,176,000	-1,144,000	-1,025,000	-1,042,000	-454,500	-652,000	-634,000	-532,000	-70,250	-104,000	-90,000	-87,000	-110,000	-1,339,000	-1,671,000	-1,768,000	-2,042,000	-1,998,000	-2,164,000	-1,450,000	-1,227,000	-1,240,000		-7,933,000	-4,532,000	-1,655,000	2,681,000	-9,426,000	-1,240,000	-1,236,000	-1,117,000	-661,000	-304,000	-307,000	-278,000	-340,000
other income	4,760,000	3,782,000	727,000	7,824,000	-95,000	1,021,000	1,890,000	2,050,000	1,960,000	394,000	278,000	557,000	357,000	219,000	194,000	97,000	-215,000	-430,000	-1,091,000	1,299,000		-821,000	2,046,000	126,000	-126,000	263,000	771,000	1,062,000	1,726,000	677,000	938,000	1,222,000	1,501,000	778,000	-263,000	-729,000	1,329,000	925,000	289,000	602,000	-306,000	4,047,000	-194,000	-363,000	2,010,000	729,000	1,393,000	27,000	-90,000			-224,000	449,000	-135,500	-420,000	542,000		955,000	1,027,000	355,000	1,323,000	-1,925,000	3,113,000	2,950,000	-5,763,000	561,000	103,000	1,134,000	3,000	-48,000	-2,000	42,000		-56,000	3,000			112,000	-5,000	-3,000	-4,000	-40,930,000	-10,000	252,000	40,932,000	9,000	-119,000	-2,000	-4,000
net income before tax	4,466,000	6,157,000	14,100,000
income tax expense	-1,000	-12,250	-49,000
net income	4,465,000	6,103,000	14,051,000	9,191,000	2,367,000	-3,968,000	-17,243,000																													285,000	-10,715,000			-15,160,000	-8,365,000	25,352,000	-480,000	-23,759,000	-21,718,000	-7,318,000	-14,399,000	-11,897,000	-4,687,000	-52,299,000	-29,624,000	-17,248,000	-24,887,000	2,366,000	-26,851,000	-16,155,000	-30,425,000	-11,735,000	-6,543,000	-8,130,000	-6,335,000	-17,758,000	-13,633,000	-15,580,000	-21,785,000	2,983,000	1,538,000	-10,210,000	6,239,000	9,982,000	-20,362,000	-20,690,000	-14,175,000	-9,877,000	21,817,000	-8,338,000	-15,928,000	-14,487,000	-10,836,000	-5,915,000	-20,603,000	-9,725,000	-8,994,000	-8,582,000	30,080,000	-17,588,000	-20,143,000	-21,043,000	-20,168,000
yoy	88.64%	-253.81%	-181.49%																																	-101.88%	28.09%			-36.19%	-61.48%	-446.43%	-96.67%	99.71%	363.37%	-86.01%	-51.39%	-31.02%	-81.17%	-2310.44%	10.33%	6.77%	-18.20%	-120.16%	310.38%	98.71%	380.27%	-33.92%	-52.01%	-47.82%	-70.92%	-695.31%	-986.41%	52.60%	-449.17%	-70.12%	-107.55%	-50.65%	-144.01%	-201.06%	-193.33%	148.14%	-11.01%	-31.82%	-301.34%	40.96%	-22.69%	48.97%	20.48%	-31.08%	-168.49%	-44.71%	-55.35%	-59.22%	-249.15%
qoq	-26.84%	-56.57%	52.88%	288.30%	-159.65%	-76.99%																														-102.66%				81.23%	-133.00%	-5381.67%	-97.98%	9.40%	196.78%	-49.18%	21.03%	153.83%	-91.04%	76.54%	71.75%	-30.69%	-1151.86%	-108.81%	66.21%	-46.90%	159.27%	79.35%	-19.52%	28.33%	-64.33%	30.26%	-12.50%	-28.48%	-830.31%	93.95%	-115.06%	-263.65%	-37.50%	-149.02%	-1.59%	45.96%	43.52%	-145.27%	-361.66%	-47.65%	9.95%	33.69%	83.20%	-71.29%	111.86%	8.13%	4.80%	-128.53%	-271.03%	-12.68%	-4.28%	4.34%
net income margin %	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	NaN%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	2.62%	-4121.15%	0%	0%	-3422.12%	-211.13%	52.62%	-23.14%	-935.76%	-819.24%	-168.31%	-280.35%	-199.18%	-137.45%	-417.26%	-469.33%	-241.20%	-263.27%	32.01%	-370.31%	-174.18%	-308.41%	-119.17%	-40.32%	-49.20%	-40.62%	-184.98%	-125.11%	-262.20%	-302.49%	13.81%	5.61%	-105.19%	15.71%	27.04%	-257.94%	-186.13%	-117.57%	-67.08%	50.57%	-58.98%	-130.00%	-160.49%	-147.33%	-78.74%	-367.65%	-159.66%	-203.21%	-166.35%	1005.01%	-815.01%	-3603.40%	-2704.76%	-11863.53%
net income available to common stockholders
basic	2,121,000	3,324,000	8,981,000	5,522,000	705,000			10,224,000
diluted	3,013,000	4,679,000	12,683,000	7,823,000	999,000			14,617,000
net income per share
basic	0.18	0.27	0.74	0.46	0.06	-0.45	-1.59	0.88
diluted	0.17	0.26	0.7	0.44	0.06	-0.45	-1.59	0.84
weighted-average shares used for eps calculation									11,580	11,471	11,473	11,466	11,460	11,413	11,447	11,421	11,330	11,288	11,311	11,285	11,240	10,674	11,019	10,824	9,761	8,763	8,731	8,725	8,706	8,373	8,386	8,362	8,313	7,619	7,786	7,588	6,887
basic	11,894	12,081	12,137	12,007	11,969	11,701	11,712	11,643
diluted	17,417	17,982	18,141	17,761	17,781	11,701	11,712	17,321
credit losses on purchased receivables
change in fair value of embedded derivative related to rpa								8,100,000
net income available to
basic	2,121,000	3,324,000	8,981,000	5,522,000	705,000			10,224,000
diluted	3,013,000	4,679,000	12,683,000	7,823,000	999,000			14,617,000
gain on the acquisition of kinnate								19,316,000
income from purchased receivables						2,973,750	6,463,000	5,432,000
royalty purchase agreement asset impairment						5,750,000	14,000,000	9,000,000		393,750		1,575,000
arbitration settlement costs													4,132,000
other income:
net loss attributable to common stockholders
basic						-5,336,000	-18,611,000
diluted						-5,336,000	-18,611,000
net income and comprehensive income								15,985,000														22,666,000	-1,077,000		-4,758,000	584,750	3,178,000		3,233,000	-3,012,000	-4,578,000	-1,947,000		-1,319,000	26,344,000
revenues:
total revenues									1,490,000	1,833,000	830,000	1,658,000	437,000	1,486,000	451,000	983,000	3,107,000	35,945,000	940,000	901,000	375,000	27,581,000	557,000	444,000	804,000	422,000	8,855,000	962,000	8,131,000	1,685,000	896,000	2,255,000	463,000	5,357,000	36,183,000	10,890,000	260,000	524,000	635,000	443,000	3,962,000	48,183,000	2,074,000	2,539,000	2,651,000	4,348,000	5,136,000	5,973,000	3,410,000	12,534,000	6,312,000	7,151,000	9,453,000	7,392,000	7,251,000	9,275,000	9,865,000	9,847,000	16,229,000	16,525,000	15,595,000	9,600,000	10,897,000	5,942,000	7,202,000	21,597,000	27,423,000	9,706,000	39,704,000	36,920,000	7,894,000	11,116,000	12,057,000	14,724,000	43,140,000	14,136,000	12,252,000	9,027,000	7,355,000	7,512,000	5,604,000	6,091,000	4,426,000	5,159,000	2,993,000	2,158,000	559,000	778,000	170,000
yoy									240.96%	23.35%	84.04%	68.67%	-85.93%	-95.87%	-52.02%	9.10%	728.53%	30.33%	68.76%	102.93%	-53.36%	6435.78%	-93.71%	-53.85%	-90.11%	-74.96%	888.28%	-57.34%	1656.16%	-68.55%	-97.52%	-79.29%	78.08%	922.33%	5598.11%	2358.24%	-93.44%	-98.91%	-69.38%	-82.55%	49.45%	1008.16%	-59.62%	-57.49%	-22.26%	-65.31%	-18.63%	-16.47%	-63.93%	69.56%	-12.95%	-22.90%	-4.18%	-24.93%	-55.32%	-43.87%	-36.74%	2.57%	48.93%	178.11%	116.54%	-55.55%	-60.26%	-38.78%	-81.86%	-41.50%	247.39%	-12.68%	229.30%	150.75%	-81.70%	-21.36%	-1.59%	63.11%	486.54%	88.18%	118.63%	48.20%	66.18%	45.61%	87.24%	182.25%	691.77%	563.11%	1660.59%
qoq									-18.71%	120.84%	-49.94%	279.41%	-70.59%	229.49%	-54.12%	-68.36%	-91.36%	3723.94%	4.33%	140.27%	-98.64%	4851.71%	25.45%	-44.78%	90.52%	-95.23%	820.48%	-88.17%	382.55%	88.06%	-60.27%	387.04%	-91.36%	-85.19%	232.26%	4088.46%	-50.38%	-17.48%	43.34%	-88.82%	-91.78%	2223.19%	-18.31%	-4.22%	-39.03%	-15.34%	-14.01%	75.16%	-72.79%	98.57%	-11.73%	-24.35%	27.88%	1.94%	-21.82%	-5.98%	0.18%	-39.32%	-1.79%	5.96%	62.45%	-11.90%	83.39%	-17.50%	-66.65%	-21.24%	182.54%	-75.55%	7.54%	367.70%	-28.99%	-7.80%	-18.11%	-65.87%	205.18%	15.38%	35.73%	22.73%	-2.09%	34.05%	-8.00%	37.62%	-14.21%	72.37%	38.69%	286.05%	-28.15%	357.65%
net loss and comprehensive loss									-8,595,000	-20,109,000	-5,509,000	-5,400,000	-9,813,000	-2,782,000	-4,178,000	-4,670,000	-2,280,000	-3,511,500	-4,436,000	-2,237,000	-7,373,000			-3,533,000				-4,072,000					-3,806,000					-9,012,500	-12,525,000
less: accumulated dividends on series a and series b preferred stock									-1,368,000	-1,026,000	-1,368,000	-1,368,000	-1,368,000	-1,026,000	-1,368,000	-1,368,000	-1,368,000	-798,000	-1,368,000	-1,293,000
net loss and comprehensive loss attributable to common stockholders, basic and diluted									-9,963,000	-21,477,000	-6,877,000	-6,768,000	-11,181,000
basic and diluted net loss per share attributable to common stockholders									-0.86	-1.87	-0.6	-0.59	-0.98	-0.335	-0.48	-0.53
weighted-average shares used for eps calculation									11,580	11,471	11,473	11,466	11,460	11,413	11,447	11,421	11,330	11,288	11,311	11,285	11,240	10,674	11,019	10,824	9,761	8,763	8,731	8,725	8,706	8,373	8,386	8,362	8,313	7,619	7,786	7,588	6,887
loss on extinguishment of debt																				-300,000															-135,000		-515,000
net loss attributable to common stockholders, basic and diluted														-3,808,000	-5,546,000	-6,038,000
net loss available to common stockholders, basic and diluted																	-3,648,000	-4,309,500	-5,804,000	-3,530,000	-7,903,000
basic and diluted net loss per share available to common stockholders																	-0.32	-0.383	-0.51	-0.31	-0.7			-0.33				-0.47					-0.46				-2.37
loss before income tax																		-3,511,500	-4,436,000	-2,237,000	-7,373,000			-3,533,000
income tax benefit																						-25,000			1,526,000
other expense																					-657,000																													-289,000	-132,000						-664,000																-91,000				-10,000
less: series a accumulated dividends																					-530,000
income before income tax																						22,691,000	-1,077,000		-6,284,000					-3,110,000	-4,578,000			-1,363,000	28,050,000
net income and comprehensive income available to common stockholders, basic																						-2,342,000	-1,077,000		-4,758,000	340,500	1,851,000		1,881,000	-2,582,750	-4,578,000
net income and comprehensive income available to common stockholders, diluted																						-2,342,000	-1,077,000		-4,758,000	350,750	1,911,000		1,935,000	-2,582,750	-4,578,000
basic net income per share available to common stockholders																						1.71	-0.1		-0.49	0.04	0.21		0.22	-0.35	-0.55	-0.23		-0.14	2.06	0.02
diluted net income per share available to common stockholders																						1.67	-0.1		-0.49	0.038	0.2		0.21	-0.35	-0.55	-0.23		-0.15	1.98	0.02
restructuring																																459,000				1,460,000	2,020,000	4,551,000		-21,000	36,000	1,138,000	2,561,000						84,000	119,000	112,000	79,000	17,000	298,000	323,000	676,000	3,777,000					11,250	45,000				2,000	312,000	3,289,000
the accompanying notes are an integral part of these condensed consolidated financial statements.
restructuring charges																														543,000	909,000
provision for income taxes																																		44,000	-1,706,000																																															10,000	2,000	38,000
net income and comprehensive income available to common stockholders, basic and diluted																																-1,947,000
deemed dividend on convertible preferred stock																																					-5,603,000
net loss and comprehensive loss available to common stockholders, basic and diluted																																	-3,806,000
license and collaborative fees																																		11,748,250	36,068,000	10,775,000	150,000	100,000	430,000	275,000	2,491,000	47,212,000	645,000	945,000	263,000	1,068,000	2,450,000	1,201,000	964,000	8,450,000	1,574,000	605,000	399,000	1,062,000	1,127,000	2,525,000	1,014,000	1,266,000	4,859,000	6,039,000	5,827,000	437,250	1,410,000	150,000	189,000	14,546,000	1,421,000	155,000	27,700,000	14,900,000	1,286,000	155,000	25,000	601,000	31,311,000	130,000	4,418,000	825,000	636,000	731,000	654,000	1,025,000	856,000	2,655,000	525,000	2,131,000	530,000	757,000	155,000
contract and other																																		39,000	115,000	115,000	110,000	424,000	205,000	168,000	1,471,000	971,000	1,429,000	1,594,000	2,388,000	3,280,000	2,686,000	4,772,000	2,446,000	4,084,000	4,738,000	6,336,000	8,796,000	5,922,000	5,905,000	6,181,000	8,851,000
restructuring charge																																		862,750	-29,000
revaluation of contingent warrant liabilities																																						9,000	260,000	3,263,000	6,932,000	-6,394,000	24,422,000	-176,000	-40,000	12,088,000	5,721,000	7,963,000	20,002,000	-35,294,000	-11,125,000	-1,781,000	-12,840,000	16,574,000	-9,208,000	-2,182,000	-14,357,000
basic net income available to common stockholders																																		1,652,250	16,038,000
diluted net income available to common stockholders																																		1,667,250	16,418,000
basic and diluted net income available to common stockholders																																				172,000
other comprehensive income:
net unrealized loss on marketable securities																																								-12	-42
total comprehensive income																																				285
net loss available to common stockholders																																					-16,318,000
other comprehensive loss:
total comprehensive loss																																					-10,715
selling, general and administrative																																						5,184,000	4,053,000	4,779,000	4,305,000	4,707,000	5,632,000	5,060,000	5,220,000	4,098,000	5,354,000	5,160,000	5,254,000	5,048,000	5,225,000	4,081,000	4,124,000	3,947,000	4,672,000	3,567,000	4,679,000	5,235,000	7,296,000	6,113,000	5,369,000	4,182,750	6,152,000	5,026,000	5,553,000	4,764,000	7,197,000	5,655,000	6,120,000
basic and diluted net loss per share of common stock																																						-1.5	-2.08	-0.13	-0.07								-0.04	-0.58	-0.34	-0.21	-0.3	0.12	-0.39	-0.24	-0.69
shares used in computing basic and diluted net loss per share of common stock																																						1,502.5	6,029	120,448	119,568								106,158	2,733	87,033	82,939	82,595	4,390	68,189	68,087	44,353
comprehensive loss																																								-15,172	-8,407	25,352	-480	-23,759	-21,718	-7,322	-14,401	-11,898	-4,680	-52,308	-29,624	-17,259	-24,884	2,362	-26,844	-16,150
basic net loss per share of common stock																																										0.22		-0.2	-0.19	-0.07	-0.13	-0.11
diluted net loss per share of common stock																																										0.22		-0.2	-0.19	-0.12	-0.17	-0.17
shares used in computing basic net loss per share of common stock																																										366	118,552	117,540	116,193	667	107,208	106,927
shares used in computing diluted net loss per share of common stock																																										366	118,552	117,540	116,193	457	114,323	114,126
net unrealized gain on available-for-sale securities																																														-4	-2	-1
net unrealized gains on available-for-sale securities																																																	7				3	-4	7
net loss before taxes																																														-7,318,000	-14,399,000			-52,298,000	-29,639,000			2,366,000	-26,925,000	-16,155,000	-30,425,000	-5,248,250	-6,543,000	-8,130,000	-6,320,000
provision for income tax benefit																																																		-1,000	15,000				74,000
other expense:
net unrealized loss on available-for-sale securities																																																				-11
net product sales																																																				210,000	258,000	249,000	219,000	569,000
cost of sales																																																				21,000	46,000	33,000	28,000	81,000
provision for income tax expense																																																										-3,750			-15,000	4,250	1,000	16,000		1,520,750	370,000	-87,000	5,800,000
contract and other revenue																																																										8,560,000	11,349,000	10,467,000	9,661,000	4,506,250	5,733,000	5,481,000	6,811,000	6,830,000	3,688,000	7,576,000	7,398,000	15,745,000	1,979,000	5,638,000	7,111,000	9,527,000	7,424,000	9,747,000	4,359,000	4,741,000	3,813,000	4,681,000	3,094,000					16,250	29,000	21,000	15,000
royalties																																																										21,000	21,000	19,000	107,000	1,066,750	3,754,000	311,000	202,000	221,000	22,314,000	1,975,000	4,606,000	6,275,000	4,629,000	5,323,000	4,921,000	4,596,000	4,405,000	4,259,000	3,475,000	3,461,000	2,906,000	2,100,000	1,856,000	1,724,000	1,712,000	1,571,000	1,209,000
basic and diluted net loss per common share																																																										-172.5	-200	-270	-220			-60				-70				-160	-110			-60	-140									-200	-240	-250	-240
shares used in computing basic and diluted net loss per common share																																																										7,655,750	32,761,000	29,889,000	29,180,000			250,431,000				150,283,000				132,288,000	132,156,000			131,694,000	116,196,000									238,000	85,284,000	84,391,000	84,171,000
investment and interest income																																																												18,000	10,000	3,250	4,000	6,000	3,000	2,000	9,000	8,000	30,000	62,000	182,000	223,000	392,000	550,000	337,000	377,000	601,000	504,000	329,000	385,000	457,000	441,000	454,000	418,000	569,000	47,000	158,000	100,000	194,000
loss on debt extinguishment																																																																			-3,645,000
net income before taxes																																																														-17,748,000	-13,632,000	-15,564,000	-21,785,000	2,627,000	1,908,000	-10,297,000	12,039,000
basic net income per common share																																																														-717.5	-690						40	-105	-150			-80	170			-100	-110	-60	-230	-120	-100	-100	350
diluted net income per common share																																																														-717.5	-690						40	-105	-150			-80	160			-100	-110	-60	-230	-100	-100	-100	280
shares used in computing basic net income per common share																																																														4,435,500	19,802,000		239,493,000	11,730,000	167,254,000		141,772,000	33,067,500	132,364,000			1,337,000	131,766,000			1,920,000	97,414,000	96,661,000	87,943,000	21,522,750	86,277,000	86,253,000	85,745,000
shares used in computing diluted net income per common share																																																														4,435,500	19,802,000		239,493,000	16,550,000	172,762,000		145,596,000	33,067,500	132,364,000			1,337,000	136,219,000			1,920,000	97,414,000	96,661,000	87,943,000	29,416,500	86,277,000	86,253,000	108,461,000
basic and diluted net income per common share																																																																	-90	-5	10
operating costs and expenses:
total operating costs and expenses																																																																						25,293,000	26,438,000	29,907,000	25,083,000	23,868,000	20,423,000	21,667,000	20,838,000	19,598,000	16,860,000	16,490,000	17,234,000	15,059,000	12,626,000	13,256,000	13,753,000	19,498,000	20,434,000	21,641,000	20,188,000
interest income																																																																												-1,184,000
net income from operations before taxes																																																																														-9,338,500	-10,836,000	-5,915,000
contract revenue																																																																																		1,012,500	1,858,000	933,000	1,259,000
collaboration arrangement																																																																																						4,087,000	3,857,000	5,191,000	3,238,000
income from operations before income taxes																																																																																		3,136,000	-8,992,000	-8,544,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31

assets
current assets:
cash and cash equivalents	85,600,000	82,908,000	45,189,000	75,060,000	90,265,000	101,654,000	142,050,000	143,904,000	136,225,000	153,290,000	33,472,000	31,445,000	44,300,000	57,826,000	78,285,000	83,182,000	87,796,000													45,780,000	28,433,000	38,690,000	41,968,000	43,471,000	47,747,000	12,465,000	20,045,000	25,742,000	20,618,000	33,854,000	46,153,000	65,767,000	32,046,000	50,957,000	67,491,000	78,445,000	54,060,000	65,895,000	73,706,000	101,659,000	73,988,000	57,934,000	50,379,000	45,345,000	42,199,000	54,917,000	74,887,000	48,344,000	45,707,000	51,157,000	56,874,000	37,304,000	16,860,000	12,101,000	28,417,000	23,909,000	27,726,000	27,616,000	21,561,000	9,513,000	6,186,000	20,734,000	8,815,000	22,500,000	41,770,000	17,174,000	17,513,000	28,002,000	10,517,000	11,798,000	14,715,000	20,804,000	14,584,000	55,769,000	61,679,000	23,808,000	35,930,000	53,989,000	78,538,000	84,812,000
short-term restricted cash	8,862,000	5,441,000	45,288,000	80,000	1,410,000	1,330,000	80,000		160,000	160,000
investment in equity securities	494,000	382,000	1,521,000	8,801,000	2,382,000	3,529,000
trade and other receivables	4,595,000	4,896,000	3,573,000	1,817,000	5,544,000	1,839,000	1,045,000	526,000	3,000	1,004,000	43,000	901,000	6,000	1,000	16,000	5,000	25,000	209,000	518,000	12,000	80,000	263,000	222,000	411,000	1,312,000	2,933,000	3,783,000	2,577,000	2,755,000	1,468,000	1,315,000	480,000	436,000	397,000	1,026,000	10,631,000	1,343,000	566,000	756,000	959,000	1,977,000	4,069,000	39,343,000	2,649,000	3,271,000	3,309,000	3,420,000	5,510,000	4,312,000	3,781,000	5,630,000	7,293,000	6,270,000	8,249,000	7,005,000	6,386,000	10,164,000	12,332,000	14,900,000	11,059,000	10,233,000		7,944,000	8,516,000	7,792,000	7,231,000	3,203,000	6,283,000	9,289,000
short-term royalty and commercial payment receivables under the eir method	18,724,000	22,780,000	13,269,000	17,960,000	12,240,000	14,763,000
prepaid expenses and other current assets	473,000	852,000	967,000	507,000	971,000	2,076,000	2,379,000	2,820,000	270,000	483,000	776,000	799,000	456,000	725,000	997,000	1,051,000	409,000	613,000	969,000	1,144,000	218,000	443,000	671,000	849,000	205,000	352,000	519,000	619,000	268,000	378,000	423,000	588,000	273,000	327,000	318,000	334,000	264,000	852,000	1,251,000	1,070,000	1,568,000	1,887,000	2,878,000	2,117,000	1,860,000	2,088,000	2,348,000	2,129,000	2,558,000	1,630,000	3,150,000	3,193,000	3,062,000	2,256,000	2,514,000	1,423,000	3,674,000	2,019,000	1,341,000	807,000	465,000		1,486,000	1,811,000	1,219,000	1,012,000	1,331,000	1,658,000	978,000	1,296,000	1,858,000
total current assets	118,748,000	117,259,000	110,707,000	104,925,000	113,225,000	125,604,000	159,021,000	162,203,000	146,890,000	169,313,000	34,505,000	38,423,000	45,073,000	61,253,000	79,741,000	87,261,000	89,614,000	96,973,000	74,872,000	87,251,000	70,248,000	88,065,000	48,144,000	52,277,000	56,355,000	59,973,000	44,046,000	45,523,000	51,459,000	47,626,000	30,171,000	39,758,000	42,677,000	44,195,000	49,091,000	23,430,000	21,652,000	27,160,000	22,625,000	36,325,000	50,152,000	72,219,000	74,267,000	55,723,000	72,622,000	83,842,000	64,828,000	83,532,000	100,572,000	127,060,000	82,768,000	68,420,000	79,707,000	95,837,000	68,714,000	74,719,000	88,725,000	62,695,000	61,948,000	63,023,000	67,572,000		26,290,000	22,428,000	37,428,000	32,152,000	32,260,000	42,791,000	47,325,000	38,704,000	34,663,000	49,944,000	29,323,000	58,088,000	64,789,000	42,975,000	46,028,000	65,888,000	31,850,000	42,244,000	45,347,000	50,288,000	52,262,000	62,320,000	65,176,000	26,607,000	38,228,000	55,736,000	80,352,000	97,234,000
long-term restricted cash	44,281,000	45,361,000	40,076,000	3,345,000	3,352,000	3,432,000	4,686,000	6,016,000	6,016,000	6,100,000												531,000
property and equipment	18,000	21,000	24,000	26,000	29,000	32,000	34,000	37,000	40,000	25,000	5,000	5,000	6,000	7,000	8,000	10,000	12,000	13,000	15,000	17,000	19,000	21,000	24,000	22,000	28,000	34,000	40,000	46,000	53,000	59,000	66,000	74,000	75,000	83,000	97,000	234,000	396,000	1,036,000	1,402,000	1,577,000	1,793,000	1,997,000	4,097,000	4,455,000	4,783,000	5,120,000	5,286,000	5,595,000	6,028,000	6,456,000	6,917,000	7,308,000	7,861,000	8,143,000	8,793,000	9,316,000	10,329,000	12,709,000	13,357,000	14,410,000	14,401,000		16,179,000	17,556,000	18,865,000	20,270,000	21,794,000	23,592,000	25,206,000	26,843,000	27,970,000	27,757,000	26,146,000	25,603,000	24,345,000	23,230,000	22,818,000	22,434,000	22,144,000	21,940,000	21,304,000	19,056,000	18,549,000	18,547,000	18,496,000	19,306,000	20,475,000	20,587,000	20,981,000	21,337,000
operating lease right-of-use assets	239,000	256,000	272,000	288,000	304,000	319,000	335,000	349,000	364,000	378,000		17,000	67,000	29,000	73,000	116,000	158,000	200,000	240,000	281,000	320,000	359,000	398,000	436,000	473,000	510,000	5,929,000	6,417,000	6,906,000
long-term royalty and commercial payment receivables under the eir method	4,235,000	4,433,000	4,678,000	4,775,000	4,857,000	4,970,000
long-term royalty and commercial payment receivables under the cost recovery method	55,886,000	55,888,000	57,864,000	58,937,000	59,916,000	55,936,000
exarafenib milestone asset	3,704,000	3,600,000	3,500,000	3,402,000	3,307,000	3,214,000	3,125,000	2,922,000
investment in warrants	709,000	697,000	595,000	609,000	605,000
intangible assets	43,864,000	44,756,000	44,556,000	45,434,000	25,365,000	25,909,000					14,477,000	14,701,000	14,925,000	15,150,000
other assets - long term	174,000	427,000	879,000	1,715,000	1,790,000	1,861,000	1,932,000	2,022,000	533,000	533,000	411,000	283,000	260,000	260,000	260,000	260,000	301,000	301,000
total assets	271,858,000	272,698,000	263,151,000	223,456,000	212,750,000	221,277,000	223,340,000	243,280,000	219,420,000	234,301,000	124,094,000	125,661,000	133,664,000	140,382,000	146,131,000	154,222,000	159,160,000	166,562,000	130,503,000	135,752,000	119,893,000	125,285,000	85,728,000	87,856,000	91,790,000	95,724,000	86,095,000	78,334,000	75,734,000	63,785,000	46,162,000	41,216,000	43,311,000	44,935,000	49,710,000	24,145,000	22,529,000	28,677,000	24,691,000	38,566,000	52,609,000	74,880,000	79,028,000	60,843,000	78,069,000	89,631,000	70,933,000	89,925,000	107,629,000	134,782,000	91,006,000	76,947,000	88,946,000	105,676,000	79,357,000	85,917,000	101,322,000	78,036,000	77,185,000	79,598,000	82,476,000	74,252,000	43,012,000	40,450,000	56,695,000	52,824,000	54,456,000	66,785,000	72,933,000	67,173,000	64,471,000	79,640,000	56,353,000	84,815,000	90,415,000	67,549,000	70,254,000	91,478,000	56,593,000	66,903,000	70,693,000	72,577,000	74,027,000	84,461,000	87,115,000	46,260,000	58,938,000	76,598,000	101,596,000	118,850,000
liabilities, convertible preferred stock and stockholders’ equity
current liabilities:
accounts payable	3,534,000	2,208,000	2,654,000	1,138,000	2,319,000	1,053,000	1,131,000	982,000	1,515,000	653,000	728,000	740,000	437,000	524,000	985,000	1,153,000	787,000	1,072,000	598,000	629,000	671,000	456,000	450,000	646,000	717,000	614,000	923,000	1,369,000	987,000	1,244,000	1,542,000	1,082,000	1,420,000	1,679,000	4,046,000	3,512,000	4,176,000	5,689,000	4,530,000	5,046,000	4,593,000	6,831,000	5,665,000	4,322,000	3,406,000	5,990,000	7,517,000	7,857,000	8,851,000	9,616,000	6,505,000	5,899,000	4,194,000	3,867,000	4,223,000	2,799,000	2,852,000	2,128,000	3,083,000	5,043,000	3,746,000		5,706,000	4,708,000	4,176,000	2,942,000	2,657,000	4,596,000	5,054,000	9,977,000	9,270,000	10,262,000	5,663,000	6,995,000	6,008,000	5,022,000	4,328,000	4,186,000	3,702,000	3,525,000	4,249,000	5,648,000	2,454,000	1,816,000	1,331,000	1,919,000	2,789,000	2,152,000	2,259,000	5,058,000
accrued and other current liabilities	3,211,000	9,885,000
operating lease liabilities	2,392,000	2,464,000	2,508,000	472,000	459,000	446,000	434,000	421,000	55,000	54,000		17,000	69,000	34,000	85,000	133,000	182,000	195,000	191,000	187,000	183,000	179,000	175,000	171,000	167,000	163,000	2,353,000	2,297,000	2,242,000
unearned revenue recognized under units-of-revenue method	1,291,000	1,268,000	1,320,000	1,434,000	1,370,000	1,361,000	1,924,000	2,259,000	2,159,000	2,113,000	2,078,000	2,029,000	1,968,000	1,899,000	1,704,000	1,669,000	1,623,000	1,641,000	1,541,000	1,503,000	1,482,000	1,452,000	1,409,000	1,393,000	1,267,000	1,096,000	859,000	851,000	595,000	490,000	1,120,000
preferred stock dividend accrual	1,452,000	1,424,000	1,368,000	1,368,000	1,368,000	1,368,000	1,368,000	1,368,000	1,368,000	1,368,000	1,368,000	1,368,000	1,368,000	1,368,000	1,368,000	1,368,000	1,368,000	1,368,000	1,368,000	1,424,000	707,000
current portion of long-term debt	14,013,000	12,526,000	14,345,000	11,672,000	13,697,000	11,394,000	9,826,000	5,716,000	6,144,000	5,543,000											7,201,000	8,088,000	8,962,000	7,596,000	6,390,000	5,184,000	3,981,000	2,675,000	1,729,000	789,000
contingent value rights liabilities - current portion	7,184,000	5,045,000	1,976,000
total current liabilities	33,077,000	34,820,000	28,305,000	21,495,000	20,434,000	24,374,000	21,134,000	18,615,000	15,540,000	19,499,000	10,334,000	7,087,000	10,094,000	6,818,000	5,425,000	8,424,000	7,890,000	12,967,000	6,508,000	6,287,000	13,105,000	12,302,000	12,335,000	11,284,000	10,123,000	8,875,000	10,089,000	11,680,000	7,149,000	5,703,000	5,619,000	3,193,000	5,880,000	7,422,000	14,224,000	21,683,000	22,245,000	32,506,000	23,014,000	24,233,000	20,450,000	23,295,000	59,137,000	29,674,000	26,427,000	36,475,000	36,376,000	37,654,000	20,253,000	29,645,000	23,989,000	21,925,000	19,107,000	23,833,000	21,784,000	18,027,000	18,857,000	21,010,000	20,419,000	19,507,000	22,333,000		17,761,000	18,157,000	19,796,000	18,678,000	25,427,000	66,022,000	75,620,000	26,992,000	28,296,000	24,634,000	16,940,000	23,600,000	21,145,000	20,198,000	17,963,000	22,667,000	16,012,000	15,459,000	14,284,000	16,544,000	11,340,000	12,058,000	14,690,000	23,603,000	18,562,000	19,532,000	28,752,000	30,458,000
unearned revenue recognized under units-of-revenue method – long-term	2,860,000	3,193,000	3,473,000	3,666,000	4,084,000	4,410,000	5,589,000	5,963,000	6,692,000	7,228,000	7,796,000	8,450,000	9,044,000	9,550,000	10,381,000	10,842,000	11,346,000	11,685,000	12,306,000	12,734,000	13,130,000	13,516,000	13,952,000	14,325,000	14,842,000	15,317,000	15,876,000	16,214,000	16,807,000	17,017,000	16,522,000
exarafenib milestone contingent consideration	3,704,000	3,600,000	3,500,000	3,402,000	3,307,000	3,214,000	3,125,000	2,922,000
long-term operating lease liabilities	19,502,000	20,114,000	20,678,000	238,000	362,000	483,000	594,000	710,000	319,000	335,000								34,000	85,000	133,000	182,000	229,000	275,000	320,000	365,000	408,000	5,189,000	5,806,000	6,406,000
long-term debt	88,825,000	96,451,000	94,382,000	102,201,000	99,934,000	106,875,000	108,089,000	115,077,000	114,528,000	118,518,000											11,654,000	12,764,000	20,990,000	23,497,000	25,141,000	27,093,000	28,698,000	23,348,000	20,854,000	21,690,000	22,034,000	14,853,000	14,572,000
contingent value rights liabilities – long-term	10,892,000	10,457,000	4,807,000
deferred tax liability	103,000	103,000	49,000
total liabilities	158,963,000	168,738,000	155,194,000	131,002,000	128,121,000	139,356,000	138,531,000	143,287,000	137,079,000	145,580,000	18,130,000	15,537,000	19,138,000	16,368,000	15,806,000	19,266,000	19,236,000	24,686,000	18,919,000	19,174,000	38,173,000	38,861,000	47,686,000	49,461,000	50,671,000	51,736,000	60,309,000	57,342,000	51,705,000	45,000,000	45,009,000	36,364,000	37,674,000	39,149,000	45,647,000	53,260,000	53,738,000	75,887,000	55,878,000	59,011,000	60,137,000	77,189,000	108,218,000	92,129,000	91,453,000	86,532,000	89,059,000	97,497,000	105,889,000	138,769,000	104,549,000	93,809,000	89,855,000	84,209,000	99,637,000	82,054,000	81,834,000	63,025,000	55,524,000	55,460,000	58,273,000		32,965,000	33,614,000	35,362,000	35,298,000	43,680,000	85,104,000	95,825,000	98,574,000	114,162,000	110,131,000	68,554,000	84,497,000	81,164,000	81,318,000	76,177,000	129,651,000	94,490,000	94,436,000	95,977,000	93,250,000	85,017,000	86,453,000	80,573,000	70,870,000	66,110,000	67,351,000	72,211,000	70,636,000
commitments and contingencies
convertible preferred stock, 0.05 par value, 5,003 shares authorized, issued and outstanding as of march 31, 2026 and december 31, 2025	20,019,000
stockholders’ equity:
8.625% series a cumulative, perpetual preferred stock, 0.05 par value, 984,000 shares authorized, issued and outstanding as of march 31, 2026 and december 31, 2025	49,000
8.375% series b cumulative, perpetual preferred stock, 0.05 par value, 3,600 shares authorized, 1,760.5 issued and outstanding as of march 31, 2026 and december 31, 2025
common stock	89,000	89,000	92,000	90,000	90,000	90,000	88,000	87,000	87,000	86,000	86,000	86,000	86,000	86,000	86,000	86,000	86,000	85,000	85,000	85,000	84,000	84,000	83,000	83,000	73,000	73,000	65,000	65,000	65,000	65,000	63,000	63,000	62,000	62,000	61,000	57,000	57,000	46,000	904,000	904,000	903,000	893,000	891,000	885,000	877,000	869,000	802,000	800,000	799,000	787,000	692,000	619,000	618,000	615,000	512,000	511,000	511,000	263,000
additional paid-in capital	1,309,868,000	1,305,200,000	1,301,542,000	1,300,066,000	1,319,607,000	1,318,766,000	1,317,657,000	1,315,703,000	1,314,036,000	1,311,809,000	1,308,943,000	1,307,594,000	1,306,596,000	1,306,271,000	1,306,606,000	1,307,059,000	1,307,357,000	1,307,030,000	1,306,582,000	1,307,140,000	1,270,046,000	1,267,377,000	1,241,711,000	1,240,987,000	1,240,188,000	1,238,299,000	1,215,784,000	1,214,168,000	1,213,133,000	1,211,122,000	1,190,480,000	1,189,601,000	1,188,440,000	1,184,783,000	1,181,742,000	1,174,912,000	1,173,104,000	1,146,357,000	1,144,042,000	1,142,313,000	1,140,059,000	1,136,881,000	1,135,354,000	1,132,783,000	1,126,934,000	1,121,707,000	1,093,227,000	1,089,382,000	1,086,798,000	1,076,403,000	1,014,642,000	981,772,000	980,467,000	977,962,000	938,680,000	935,980,000	935,455,000	900,801,000	895,729,000	891,672,000	883,626,000		845,439,000	828,623,000	827,540,000	801,978,000	798,213,000	770,673,000	755,901,000	753,634,000	745,410,000	744,155,000	741,716,000	740,119,000	739,174,000	737,963,000	737,471,000	689,315,000	675,143,000	674,698,000	671,038,000	655,041,000	654,965,000	654,937,000	654,889,000	653,537,000	653,470,000	649,761,000	648,839,000
accumulated other comprehensive income	119,000	53,000	121,000	122,000	118,000	73,000	104,000
accumulated deficit	-1,217,249,000	-1,221,450,000	-1,213,866,000	-1,227,892,000	-1,235,235,000	-1,237,057,000	-1,233,089,000	-1,215,846,000	-1,231,831,000	-1,223,223,000	-1,203,114,000	-1,197,605,000	-1,192,205,000	-1,182,392,000	-1,176,416,000	-1,172,238,000	-1,167,568,000	-1,165,288,000	-1,195,132,000	-1,190,696,000	-1,188,459,000	-1,181,086,000	-1,203,752,000	-1,202,675,000	-1,199,142,000	-1,194,384,000	-1,190,063,000	-1,193,241,000	-1,189,169,000	-1,192,402,000	-1,189,390,000	-1,184,812,000	-1,182,865,000	-1,179,059,000	-1,177,740,000	-1,204,084,000	-1,204,370,000	-1,193,613,000	-1,176,133,000	-1,163,608,000	-1,148,448,000	-1,140,083,000	-1,165,435,000	-1,164,954,000	-1,141,195,000	-1,119,477,000	-1,112,159,000	-1,097,760,000	-1,085,863,000	-1,081,176,000	-1,028,877,000	-999,253,000	-982,005,000	-957,118,000	-959,484,000	-932,633,000	-916,478,000	-886,053,000	-874,318,000	-867,776,000	-859,645,000	-853,310,000	-835,552,000	-821,919,000	-806,339,000	-784,554,000	-787,537,000	-789,075,000	-778,865,000	-785,104,000	-795,086,000	-774,724,000	-754,034,000	-739,859,000	-729,982,000	-751,799,000	-743,460,000	-727,533,000	-713,046,000	-702,210,000	-696,295,000	-675,692,000	-665,967,000	-656,973,000	-648,391,000	-678,471,000	-660,883,000	-640,740,000	-619,695,000	-599,529,000
total stockholders’ equity	92,876,000	83,941,000	87,938,000	72,435,000	84,629,000	81,921,000	84,809,000	99,993,000	82,341,000	88,721,000	105,964,000	110,124,000	114,526,000	124,014,000	130,325,000	134,956,000	139,924,000	141,876,000	111,584,000	116,578,000	81,720,000	86,424,000	38,042,000	38,395,000	41,119,000	43,988,000	25,786,000	20,992,000	24,029,000	18,785,000	1,153,000	4,852,000	5,637,000	5,786,000	4,063,000											3,099,000			1,740,000					21,467,000		3,863,000	19,488,000	15,011,000
total liabilities, convertible preferred stock and stockholders’ equity	271,858,000	272,698,000	263,151,000	223,456,000
short-term royalty and commercial payment receivables under the cost recovery method			900,000	700,000	413,000	413,000
contingent consideration under rpas, aaas, and cppas						3,000,000	4,000,000
convertible preferred stock, 0.05 par value, 5,003 shares authorized, issued and outstanding as of december 31, 2025 and december 31, 2024		20,019,000
8.625% series a cumulative, perpetual preferred stock, 0.05 par value, 984,000 shares authorized, issued and outstanding as of december 31, 2025 and december 31, 2024		49,000
8.375% series b cumulative, perpetual preferred stock, 0.05 par value, 3,600 shares authorized, 1,760.5 and 1,600 shares issued and outstanding as of december 31, 2025 and december 31, 2024, respectively
accrued and other liabilities			4,134,000	5,411,000	1,221,000	5,752,000	2,451,000	4,869,000	1,299,000	2,768,000	2,160,000	1,933,000	6,127,000	2,918,000	1,208,000	1,026,000	855,000	525,000	1,325,000	1,059,000	1,376,000	642,000	466,000	605,000	709,000	945,000	1,100,000	615,000	798,000	2,382,000	2,159,000	1,142,000	1,338,000	2,545,000	1,601,000	2,062,000	2,173,000	4,215,000	4,814,000	5,737,000	4,387,000	7,025,000	9,680,000	7,441,000	5,992,000	9,892,000	7,503,000	6,389,000	4,895,000	9,934,000	8,016,000	6,629,000	5,410,000	13,166,000	11,667,000	7,866,000	6,297,000	10,012,000	10,434,000
convertible preferred stock, 0.05 par value, 5,003 shares authorized, issued and outstanding as of september 30, 2025 and december 31, 2024			20,019,000
8.625% series a cumulative, perpetual preferred stock, 0.05 par value, 984,000 shares authorized, issued and outstanding as of september 30, 2025 and december 31, 2024			49,000
8.375% series b cumulative, perpetual preferred stock, 0.05 par value, 3,600 shares authorized, 1,600 shares issued and outstanding as of september 30, 2025 and december 31, 2024
convertible preferred stock, 0.05 par value, 5,003 shares authorized, issued and outstanding as of june 30, 2025 and december 31, 2024				20,019,000
8.625% series a cumulative, perpetual preferred stock, 0.05 par value, 984,000 shares authorized, issued and outstanding as of june 30, 2025 and december 31, 2024				49,000
8.375% series b cumulative, perpetual preferred stock, 0.05 par value, 3,600 shares authorized, 1,600 shares issued and outstanding as of june 30, 2025 and december 31, 2024
liabilities and stockholders’ equity
preferred stock, 0.05 par value, 1,000,000 shares authorized:
8.625% series a cumulative, perpetual preferred stock, 984,000 shares issued and outstanding as of march 31, 2025 and december 31, 2024					49,000
8.375% series b cumulative, perpetual preferred stock, 1,600 shares issued and outstanding as of march 31, 2025 and december 31, 2024
convertible preferred stock, 5,003 shares issued and outstanding as of march 31, 2025 and december 31, 2024
total liabilities and stockholders’ equity					212,750,000	221,277,000	223,340,000	243,280,000	219,420,000	234,301,000	124,094,000	125,661,000	133,664,000	140,382,000	146,131,000	154,222,000	159,160,000	166,562,000	130,503,000	135,752,000	119,893,000	125,285,000	85,728,000	87,856,000	91,790,000	95,724,000	86,095,000	78,334,000	75,734,000	63,785,000	46,162,000	41,216,000	43,311,000	44,935,000	49,710,000											89,631,000			107,629,000					105,676,000		85,917,000	101,322,000	78,036,000
8.625% series a cumulative, perpetual preferred stock, 984,000 shares issued and outstanding as of december 31, 2024 and december 31, 2023						49,000
8.375% series b cumulative, perpetual preferred stock, 1,600 shares issued and outstanding as of december 31, 2024 and december 31, 2023
convertible preferred stock, 5,003 shares issued and outstanding as of december 31, 2024 and december 31, 2023
short-term equity securities							785,000	696,000	413,000	161,000	214,000	320,000	311,000	335,000	443,000	523,000	547,000	774,000	1,211,000	2,310,000
short-term royalty and commercial payment receivables							12,682,000	14,257,000	9,819,000	14,215,000		4,958,000		2,366,000		2,500,000
long-term royalty and commercial payment receivables							54,207,000	69,731,000	65,577,000	57,952,000	74,696,000	72,232,000	73,333,000	63,683,000	66,049,000	66,575,000	69,075,000	69,075,000
8.625% series a cumulative, perpetual preferred stock, 984,000 shares issued and outstanding as of september 30, 2024 and december 31, 2023							49,000
8.375% series b cumulative, perpetual preferred stock, 1,600 shares issued and outstanding as of september 30, 2024 and december 31, 2023
convertible preferred stock, 5,003 shares issued and outstanding as of september 30, 2024 and december 31, 2023
contingent consideration under rpas, aaas and cppas								3,000,000	3,000,000	7,000,000	4,000,000	1,000,000
8.625% series a cumulative, perpetual preferred stock, 984,000 shares issued and outstanding as of june 30, 2024 and december 31, 2023								49,000
8.375% series b cumulative, perpetual preferred stock, 1,600 shares issued and outstanding as of june 30, 2024 and december 31, 2023
convertible preferred stock, 5,003 shares issued and outstanding as of june 30, 2024 and december 31, 2023
8.625% series a cumulative, perpetual preferred stock, 984,000 shares issued and outstanding at march 31, 2024 and december 31, 2023									49,000
8.375% series b cumulative, perpetual preferred stock, 1,600 shares issued and outstanding at march 31, 2024 and december 31, 2023
convertible preferred stock, 5,003 shares issued and outstanding at march 31, 2024 and december 31, 2023
8.625% series a cumulative, perpetual preferred stock, 984,000 shares issued and outstanding at december 31, 2023 and december 31, 2022										49,000
8.375% series b cumulative, perpetual preferred stock, 1,600 shares issued and outstanding at december 31, 2023 and december 31, 2022
convertible preferred stock, 5,003 shares issued and outstanding at december 31, 2023 and december 31, 2022
8.625% series a cumulative, perpetual preferred stock, 984,000 shares issued and outstanding at september 30, 2023 and december 31, 2022											49,000
8.375% series b cumulative, perpetual preferred stock, 1,600 shares issued and outstanding at september 30, 2023 and december 31, 2022
convertible preferred stock, 5,003 shares issued and outstanding at september 30, 2023 and december 31, 2022
8.625% series a cumulative, perpetual preferred stock, 984,000 shares issued and outstanding at june 30, 2023 and december 31, 2022												49,000
8.375% series b cumulative, perpetual preferred stock, 1,600 shares issued and outstanding at june 30, 2023 and december 31, 2022
convertible preferred stock, 5,003 shares issued and outstanding at june 30, 2023 and december 31, 2022
contingent consideration under rpas and cppas													125,000	75,000	75,000	3,075,000	3,075,000	8,075,000
8.625% series a cumulative, perpetual preferred stock, 984,000 shares issued and outstanding at march 31, 2023 and december 31, 2022													49,000
8.375% series b cumulative, perpetual preferred stock, 1,600 shares issued and outstanding at march 31, 2023 and december 31, 2022
convertible preferred stock, 5,003 shares issued and outstanding at march 31, 2023 and december 31, 2022
restricted cash																	837,000	2,049,000	3,417,000	4,840,000	2,142,000	1,611,000																																														6,061,000	13,998,000	9,545,000	13,878,000	8,285,000	903,000	6,019,000	1,640,000	5,215,000	1,619,000	4,330,000
income taxes payable																		91,000															1,666,000	1,637,000	1,706,000
8.625% series a cumulative, perpetual preferred stock, 984,000 shares issued and outstanding at december 31, 2022 and december 31, 2021														49,000
8.375% series b cumulative, perpetual preferred stock, 1,600 shares issued and outstanding at december 31, 2022 and december 31, 2021
convertible preferred stock, 5,003 shares issued and outstanding at december 31, 2022 and december 31, 2021
8.625% series a cumulative, perpetual preferred stock, 984,000 shares issued and outstanding at september 30, 2022 and december 31, 2021															49,000
8.375% series b cumulative, perpetual preferred stock, 1,600 shares issued and outstanding at september 30, 2022 and december 31, 2021
convertible preferred stock, 5,003 shares issued and outstanding at september 30, 2022 and december 31, 2021
8.625% series a cumulative, perpetual preferred stock, 984,000 shares issued and outstanding at june 30, 2022 and december 31, 2021																49,000
8.375% series b cumulative, perpetual preferred stock, 1,600 shares issued and outstanding at june 30, 2022 and december 31, 2021
convertible preferred stock, 5,003 shares issued and outstanding at june 30, 2022 and december 31, 2021
8.625% series a cumulative, perpetual preferred stock, 984,000 shares issued and outstanding at march 31, 2022 and december 31, 2021																	49,000
8.375% series b cumulative, perpetual preferred stock, 1,600 shares issued and outstanding at march 31, 2022 and december 31, 2021, respectively
convertible preferred stock, 5,003 shares issued and outstanding at march 31, 2022 and december 31, 2021
cash																		93,328,000	68,757,000	78,945,000	67,808,000	84,222,000	45,725,000	49,491,000	53,312,000	56,688,000	39,744,000	42,327,000	48,436,000
income tax receivable																						1,526,000	1,526,000	1,526,000	1,526,000
long-term equity securities																											873,000	1,138,000	1,107,000	392,000	347,000	553,000
contingent liabilities																			1,410,000	1,410,000	1,410,000	1,410,000
other liabilities - long term																																											549,000	556,000									33,000		1,284,000	1,181,000	1,079,000
8.625% series a cumulative, perpetual preferred stock, 984,000 shares issued and outstanding at december 31, 2021 and december 31, 2020																		49,000
8.375% series b cumulative, perpetual preferred stock, 1,600 and zero shares issued and outstanding at december 31, 2021 and december 31, 2020, respectively
convertible preferred stock, 5,003 shares issued and outstanding at december 31, 2021 and december 31, 2020
long-term royalty receivables																			55,075,000	48,075,000	48,075,000	34,575,000	34,375,000	34,375,000	34,375,000	34,375,000	34,375,000	24,375,000	15,375,000	15,000,000	15,000,000
other assets																			301,000	128,000	210,000	41,000	215,000	215,000	151,000	151,000	832,000	835,000	834,000	708,000	578,000	831,000	559,000	657,000	522,000	481,000	481,000	481,000	664,000	664,000	664,000	664,000	664,000	665,000	664,000	669,000	819,000	798,000	1,029,000	1,266,000	1,321,000	1,219,000	1,378,000	1,696,000	1,850,000	1,882,000	2,268,000	2,632,000	1,880,000	2,165,000	503,000		543,000	466,000	402,000	402,000	402,000	402,000	402,000	402,000	402,000	402,000	402,000	402,000
contingent consideration under royalty purchase agreements																			75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	3,075,000
other liabilities – long-term																			20,000	20,000	102,000	50,000	134,000	35,000	200,000	43,000	457,000	294,000	489,000	590,000	834,000
8.625% series a cumulative, perpetual preferred stock, 984,000 shares issued and outstanding at september 30, 2021 and december 31, 2020																			49,000
8.375% series b cumulative, perpetual preferred stock, 1,600 and zero shares issued and outstanding at september 30, 2021 and december 31, 2020, respectively
convertible preferred stock, 5,003 shares issued and outstanding at september 30, 2021 and december 31, 2020
8.625% series a cumulative, perpetual preferred stock, 984,000 shares issued and outstanding at june 30, 2021 and december 31, 2020																				49,000
8.375% series b cumulative, perpetual preferred stock, 1,600 and zero shares issued and outstanding at june 30, 2021 and december 31, 2020, respectively
convertible preferred stock, 5,003 shares issued and outstanding at june 30, 2021 and december 31, 2020
equity securities																					1,021,000	1,693,000	2,572,000	531,000	408,000	681,000
8.625% series a cumulative, perpetual preferred stock, 984,000 shares issued and outstanding at march 31, 2021 and december 31, 2020																					49,000
convertible preferred stock, 5,003 shares issued and outstanding at march 31, 2021 and december 31, 2020
8.625% series a cumulative, perpetual preferred stock, 984,000 and zero shares issued and outstanding at december 31, 2020 and december 31, 2019, respectively																						49,000
convertible preferred stock, 5,003 and 6,256 shares issued and outstanding at december 31, 2020 and december 31, 2019, respectively
contract liabilities																							798,000	798,000	798,000	798,000	798,000	798,000	798,000	798,000	798,000	798,000	798,000
convertible preferred stock, 0.05 par value, 1,000,000 shares authorized, 5,003 and 6,256 shares issued and outstanding at september 30, 2020 and december 31, 2019, respectively
convertible preferred stock, 0.05 par value, 1,000,000 shares authorized, 5,003 and 6,256 shares issued and outstanding at june 30, 2020 and december 31, 2019, respectively
convertible preferred stock, 0.05 par value, 1,000,000 shares authorized, 6,256 shares issued and outstanding at march 31, 2020 and december 31, 2019
convertible preferred stock, 0.05 par value, 1,000,000 shares authorized, 6,256 shares issued and outstanding at december 31, 2019 and december 31, 2018
convertible preferred stock, 0.05 par value, 1,000,000 shares authorized, 6,256 shares issued and outstanding at september 30, 2019 and december 31, 2018
the accompanying notes are an integral part of these condensed consolidated financial statements.
convertible preferred stock, 0.05 par value, 1,000,000 shares authorized, 6,256 shares issued and outstanding at june 30, 2019 and december 31, 2018
convertible preferred stock, 0.05 par value, 1,000,000 shares authorized, 6,256 shares issued and outstanding at march 31, 2019 and december 31, 2018
convertible preferred stock, 0.05 par value, 1,000,000 shares authorized, 6,256 and 5,003 shares issued and outstanding at december 31, 2018 and 2017, respectively
the accompanying notes are an integral part of these consolidated financial statements.
convertible preferred stock, 0.05 par value, 1,000,000 shares authorized, 5,003 shares issued and outstanding at september 30, 2018 and december 31, 2017
unearned revenue recognized under units-of-revenue method – current																																171,000	658,000
accrued interest on long-term debt – current
unearned revenue recognized under units-of-revenue method – non-current																																17,592,000	17,019,000
other liabilities – non-current																																726,000	203,000	32,000				69,000	97,000	123,000	148,000	673,000
convertible preferred stock, 0.05 par value, 1,000,000 shares authorized, 5,003 shares issued and outstanding at june 30, 2018 and december 31, 2017
convertible preferred stock, 0.05 par value, 1,000,000 shares authorized, 5,003 shares issued and outstanding at march 31, 2018 and december 31, 2017
accrued restructuring costs																																		130,000	444,000	1,020,000	1,793,000	3,594,000
deferred revenue – current																																		1,413,000	6,287,000	1,425,000	1,381,000	899,000				3,198,000	39,345,000			1,089,000																																											1,866,000
interest bearing obligations – current																																				13,539,000	12,544,000	17,855,000	12,461,000	12,138,000	10,244,000	5,910,000	4,123,000	15,793,000	15,605,000	19,247,000																						41,993,000	50,394,000
accrued interest on interest bearing obligations – current																																		18,000	140,000	125,000	178,000	254,000	310,000	288,000	327,000	331,000	324,000	332,000	335,000	257,000	237,000	299,000	264,000		1,969,000	1,694,000	1,662,000
deferred revenue – non-current																																		17,123,000	17,101,000	17,255,000	17,408,000	18,000,000
interest bearing obligations – non-current																																		14,572,000	14,322,000	14,322,000	14,085,000	25,312,000	32,758,000	34,386,000	36,007,000	42,757,000
stockholders’ equity
convertible preferred stock, 0.05 par value, 1,000,000 shares authorized, 5,003 and 0 shares issued and outstanding at december 31, 2017 and 2016, respectively
preferred stock, 0.05 par value, 1,000,000 shares authorized, 5,003 and 0 shares issued and outstanding as of september 30, 2017 and december 31, 2016, respectively
liabilities and stockholders’ deficit
stockholders’ deficit:
preferred stock, 0.05 par value, 1,000,000 shares authorized, 5,003 and 0 shares issued and outstanding as of june 30, 2017 and december 31, 2016, respectively
total stockholders’ deficit																																				-29,115,000	-31,209,000	-47,210,000	-31,187,000	-20,445,000	-7,528,000						-18,126,000	-7,572,000
total liabilities and stockholders’ deficit																																				24,145,000	22,529,000	28,677,000	24,691,000	38,566,000	52,609,000						70,933,000	89,925,000
preferred stock, 0.05 par value, 1,000,000 shares authorized, 5,003 and 0 shares issued and outstanding as of march 31, 2017 and december 31, 2016, respectively
marketable securities																																								442,000	454,000	496,000
contingent warrant liabilities																																							9,000	269,000	3,532,000	10,464,000	4,070,000	28,956,000	31,868,000	31,828,000	33,658,000	39,379,000	47,342,000	69,869,000	39,162,000	29,618,000	27,841,000	15,001,000	32,179,000	23,293,000	21,122,000
preferred stock, 0.05 par value, 1,000,000 shares authorized, 0 issued and outstanding at december 31, 2016 and 2015
deferred revenue																																							899,000	1,024,000	899,000						1,089,000	2,139,000	2,158,000	2,218,000	3,414,000	3,618,000	3,756,000	3,409,000	3,545,000	4,566,000	6,912,000	5,695,000	6,006,000	5,982,000	11,446,000		2,152,000	1,424,000	1,582,000	2,114,000	8,317,000	4,573,000	7,951,000	9,105,000	6,487,000	7,146,000	5,885,000	8,017,000	7,994,000	7,681,000	7,359,000	9,601,000	5,738,000	4,849,000	4,764,000	3,527,000	3,048,000	2,902,000	2,000,000	2,000,000	2,000,000	2,030,000
preferred stock, 0.05 par value, 1,000,000 shares authorized, 0 issued and outstanding at september 30, 2016 and december 31, 2015
preferred stock, 0.05 par value, 1,000,000 shares authorized, 0 issued and outstanding at june 30, 2016 and december 31, 2015
accumulated comprehensive loss																																								-54,000	-42,000																													-2,000	-82,000			-9,000	-8,000		-1,000
preferred stock, 0.05 par value, 1,000,000 shares authorized, 0 issued and outstanding
liabilities and stockholders’ (deficit) equity
stockholders’ (deficit) equity:
total stockholders’ (deficit) equity																																										-2,309,000	-29,190,000	-31,286,000	-13,384,000					-3,987,000	-13,543,000	-16,862,000	-909,000		-20,280,000
total liabilities and stockholders’ (deficit) equity																																										74,880,000	79,028,000	60,843,000	78,069,000					134,782,000	91,006,000	76,947,000	88,946,000		79,357,000
deferred revenue – long-term																																												732,000	1,574,000	1,939,000	2,469,000	3,134,000	3,636,000	4,105,000	4,457,000	5,392,000	5,857,000	6,315,000	6,741,000	6,876,000	7,207,000	7,539,000	8,016,000	8,665,000	9,427,000		1,346,000	1,605,000	1,865,000		4,716,000	5,372,000	7,025,000		9,251,000	9,235,000	8,924,000		10,770,000	11,871,000	11,528,000		4,285,000	5,075,000	3,833,000		4,833,000	5,551,000	5,883,000		6,833,000	7,333,000	3,194,000
interest bearing obligations – long-term																																											44,462,000	32,211,000	31,584,000	16,290,000	16,556,000	17,330,000	34,658,000	35,150,000	36,941,000	36,874,000	37,017,000	37,653,000	37,649,000	32,677,000	33,569,000	33,524,000	26,649,000	27,031,000							13,129,000	13,129,000	12,880,000
deferred revenue - current																																												1,786,000	1,089,000
short-term investments																																															5,000,000	9,998,000	19,996,000	19,990,000			19,996,000	39,987,000	16,996,000	11,993,000														1,299,000	4,381,000	6,629,000	10,220,000	16,067,000	5,868,000	6,805,000	16,068,000	18,381,000	12,942,000	23,054,000	22,657,000	22,732,000	31,194,000			511,000	468,000	453,000	469,000	436,000
interest bearing obligation – current																																															20,030,000	20,970,000	4,085,000	5,835,000	4,085,000	4,085,000	4,085,000	3,391,000	2,349,000	2,796,000	2,796,000	2,796,000
accumulated comprehensive income																																															4,000	6,000	6,000	-1,000			11,000	8,000	12,000	5,000				1,000												11,000	50,000					-9,000	-44,000	-71,000	-76,000	-66,000	-32,000			280,000	197,000	183,000	198,000	166,000
accrued interest on interest bearing obligation – current																																																		2,042,000
other liabilities - long-term																																																						1,407,000				952,000
preferred stock, 0.05 par value, 1,000,000 shares authorized
warrant liability																																																										379,000								4,760,000	5,321,000	5,550,000
series b, 8,000 designated, 0 and 2,959 shares issued and outstanding at december 31, 2011 and 2010, respectively
liabilities and shareholders’ equity
warrant liabilities																																																											896,000	1,395,000	1,854,000		1,716,000	4,836,000	7,788,000
other long-term liabilities																																																											440,000	257,000	272,000		353,000	347,000	360,000	385,000	408,000	581,000	300,000	200,000	353,000
shareholders’ equity:
preference shares, 0.05 par value, 1,000,000 shares authorized
series b, 8,000 designated, 0 and 2,959 shares issued and outstanding at september 30, 2011 and december 31, 2010, respectively
common shares, 0.0075 par value, 92,666,666 shares authorized, 33,412,263 and 28,491,318 shares outstanding at september 30, 2011 and december 31, 2010, respectively																																																											250,000
total shareholders’ equity																																																											21,661,000	24,138,000	24,203,000		10,047,000	6,836,000	21,333,000	17,526,000	10,776,000	-18,319,000	-22,892,000	-31,401,000	-49,691,000	-30,491,000	-12,201,000	318,000	9,251,000	-13,769,000	-5,923,000	-38,173,000	-37,897,000	-27,533,000	-25,284,000	-20,673,000	-10,990,000	-1,992,000	6,542,000	-24,610,000	-7,172,000	9,247,000	29,385,000	48,214,000
total liabilities and shareholders’ equity																																																											77,185,000	79,598,000	82,476,000		43,012,000	40,450,000	56,695,000	52,824,000	54,456,000	66,785,000	72,933,000	67,173,000	64,471,000	79,640,000	56,353,000	84,815,000	90,415,000	67,549,000	70,254,000	91,478,000	56,593,000	66,903,000	70,693,000	72,577,000	74,027,000	84,461,000	87,115,000	46,260,000	58,938,000	76,598,000	101,596,000
accrued liabilities																																																												7,087,000	5,287,000		8,187,000	7,167,000	6,146,000	8,629,000	8,539,000	7,487,000	7,264,000	4,438,000	8,095,000	6,279,000	4,990,000	7,710,000	6,716,000	6,625,000	5,916,000	7,086,000	5,623,000	5,613,000	4,490,000	5,717,000	5,789,000	7,236,000	11,203,000	19,331,000	13,208,000	14,536,000	8,429,000	6,163,000
series b, 8,000 designated, 0 and 2,959 shares issued and outstanding at june 30, 2011 and december 31, 2010, respectively
common shares, 0.0075 par value, 92,666,666 shares authorized, 32,200,731 and 28,491,318 shares outstanding at june 30, 2011 and december 31, 2010, respectively																																																												241,000
interest bearing obligation – long-term																																																													26,241,000				13,341,000						76,262,000	76,262,000	42,690,000		49,249,000	49,249,000	46,686,000		15,793,000	15,793,000	12,373,000		8,844,000	8,844,000			40,641,000	40,349,000
series a, 210,000 designated, no shares issued and outstanding at march 31, 2011 and december 31, 2010
series b, 8,000 designated, 2,959 shares issued and outstanding at march 31, 2011 and december 31, 2010																																																													1,000
common shares, 0.0075 par value, 46,666,666 shares authorized, 29,518,896 and 28,491,318 shares outstanding at march 31, 2011 and december 31, 2010, respectively																																																													221,000
balance sheet data
current assets																																																														58,880,000
working capital																																																														23,352,000
current liabilities																																																														35,528,000
long-term liabilities																																																														15,133,000
redeemable convertible preferences shares, at par value																																																														1,000
total shareholders' equity																																																														23,591,000
other current liabilities																																																																22,000	104,000	223,000	475,000	606,000	1,692,000	1,884,000	1,599,000
interest bearing obligation - long-term																																																															13,505,000	13,505,000
series a, 210,000 designated, no shares issued and outstanding at september 30, 2010 and december 31, 2009
series b, 8,000 designated, 2,959 shares issued and outstanding at september 30, 2010 and december 31, 2009																																																															1,000
common shares, 0.0075 par value, 46,666,666 shares authorized, 21,195,111 and 13,536,146 shares outstanding at september 30, 2010 and december 31, 2009, respectively																																																															159,000
series a, 210,000 designated, no shares issued and outstanding at june 30, 2010 and december 31, 2009
series b, 8,000 designated, 2,959 shares issued and outstanding at june 30, 2010 and december 31, 2009																																																																1,000
common shares, 0.0005 par value, 400,000,000 shares authorized, 261,247,750 and 203,042,194 shares outstanding at june 30, 2010 and december 31, 2009, respectively																																																																131,000
series a, 210,000 designated, no shares issued and outstanding at march 31, 2010 and december 31, 2009
series b, 8,000 designated, 2,959 shares issued and outstanding at march 31, 2010 and december 31, 2009																																																																	1,000
common shares, 0.0005 par value, 400,000,000 shares authorized, 261,247,750 and 203,042,194 shares outstanding at march 31, 2010 and december 31, 2009, respectively																																																																	131,000
debt issuance costs																																																																				1,173,000	1,499,000	365,000	398,000	398,000	185,000	254,000	254,000	254,000	254,000	668,000	477,000	477,000	502,000	493,000
debt issuance costs—long-term																																																																						1,224,000				722,000				2,661,000				2,683,000
accrued interest																																																																		10,000	118,000	1,217,000	3,265,000	1,588,000	2,845,000	947,000	402,000	878,000	427,000	870,000	360,000	1,794,000	949,000	1,472,000	781,000	1,652,000
deferred revenue—long-term																																																																		2,894,000				8,108,000				10,047,000				8,768,000				4,333,000				6,333,000
interest bearing obligation—long-term																																																																		13,341,000				63,274,000				50,850,000				51,393,000				12,373,000				40,934,000
shareholders’ equity
series a, 210,000 designated, no shares issued and outstanding at december 31, 2009 and 2008
series b, 8,000 designated, 2,959 shares issued and outstanding at december 31, 2009 and 2008																																																																		1,000
common shares, 0.0005 par value, 400,000,000 shares authorized, 203,042,194 and 140,467,529 shares outstanding at december 31, 2009 and 2008, respectively																																																																		101,000
debt issuance costs – long-term																																																																							1,436,000	1,537,000	482,000		786,000	849,000	913,000		2,067,000	2,187,000	2,428,000
series a, 210,000 designated, no shares issued and outstanding at september 30, 2009 and december 31, 2008
series b, 8,000 designated, 2,959 shares issued and outstanding at september 30, 2009 and december 31, 2008																																																																			1,000
common shares, 0.0005 par value, 400,000,000 shares authorized, 198,937,455 and 140,467,529 shares outstanding at september 30, 2009 and december 31, 2008, respectively																																																																			99,000
series a, 210,000 designated, no shares issued and outstanding at june 30, 2009 and december 31, 2008
series b, 8,000 designated, 2,959 shares issued and outstanding at june 30, 2009 and december 31, 2008																																																																				1,000
common shares, 0.0005 par value, 210,000,000 shares authorized, 164,587,434 and 140,467,529 shares outstanding at june 30, 2009 and december 31, 2008, respectively																																																																				82,000
series a, 210,000 designated, no shares issued and outstanding at march 31, 2009 and december 31, 2008
series b, 8,000 designated, 2,959 shares issued and outstanding at march 31, 2009 and december 31, 2008																																																																					1,000
common shares, 0.0005 par value, 210,000,000 shares authorized, 142,326,493 and 140,467,529 shares outstanding at march 31, 2009 and december 31, 2008, respectively																																																																					71,000
receivables																																																																						16,686,000	7,962,000	12,529,000	7,701,000	12,135,000	13,417,000	12,257,000	9,204,000	13,390,000	6,489,000	5,602,000	6,021,000	5,186,000	4,366,000	4,374,000	1,375,000	707,000	370,000	22,000	128,000	10,625,000
series a, 210,000 designated, no shares issued and outstanding at december 31, 2008 and 2007
series b, 8,000 designated, 2,959 shares issued and outstanding at december 31, 2008 and 2007																																																																						1,000
common shares, 0.0005 par value, 210,000,000 shares authorized, 140,467,529 and 131,957,774 shares outstanding at december 31, 2008 and 2007, respectively																																																																						70,000
preference shares, .05 par value, 1,000,000 shares authorized
series a, 210,000 designated, no shares issued and outstanding at september 30, 2008 and december 31, 2007, respectively
series b, 8,000 designated, 2,959 shares issued and outstanding at september 30, 2008 and december 31, 2007, respectively; aggregate liquidation preference of 29.6 million																																																																							1,000
common shares, .0005 par value, 210,000,000 shares authorized, 132,429,517 and 131,957,774 shares outstanding at september 30, 2008 and december 31, 2007, respectively																																																																							66,000
prepaid expenses																																																																								1,369,000	1,499,000	1,113,000	1,840,000	1,270,000	1,370,000	1,061,000	1,370,000	1,217,000	1,356,000	975,000	2,022,000	2,073,000	1,957,000	1,414,000
series a, 210,000 designated, no shares issued and outstanding at june 30, 2008 and december 31, 2007, respectively
series b, 8,000 designated, 2,959 shares issued and outstanding at june 30, 2008 and december 31, 2007, respectively; aggregate liquidation preference of 29.6 million																																																																								1,000
common shares, .0005 par value, 210,000,000 shares authorized, 132,330,012 and 131,957,774 shares outstanding at june 30, 2008 and december 31, 2007, respectively																																																																								66,000
series a, 210,000 designated, no shares issued and outstanding at march 31, 2008 and december 31, 2007, respectively
series b, 8,000 designated, 2,959 shares issued and outstanding at march 31, 2008 and december 31, 2007, respectively; aggregate liquidation preference of 29.6 million																																																																									1,000
common shares, .0005 par value, 210,000,000 shares authorized, 132,285,482 and 131,957,774 shares outstanding at march 31, 2008 and december 31, 2007, respectively																																																																									66,000
convertible debt—long-term																																																																														46,823,000				60,000,000
series a, 210,000 designated, no shares issued and outstanding at december 31, 2007 and 2006
series b, 8,000 designated, 2,959 shares issued and outstanding at december 31, 2007 and 2006; aggregate liquidation preference of 29.6 million																																																																										1,000
common shares, .0005 par value, 210,000,000 shares authorized, 131,957,774 and 105,454,389 shares outstanding at december 31, 2007 and 2006, respectively																																																																										66,000
deposits and other																																																																											495,000	495,000	495,000						3,086,000	3,205,000	3,272,000		159,000	159,000	160,000	159,000
convertible debt – long-term																																																																															58,400,000	58,109,000	65,487,000		60,000,000	60,000,000	60,000,000
series a, 210,000 designated, no shares issued and outstanding
series b, 8,000 designated, 2,959 shares issued and outstanding; aggregate liquidation preference of 29.6 million																																																																											1,000	1,000	1,000		1,000	1,000	1,000		1,000	1,000	1,000
common shares, .0005 par value, 210,000,000 shares authorized, 131,847,003 and 105,454,389 shares issued and outstanding at september 30, 2007 and december 31, 2006, respectively																																																																											66,000
common shares, .0005 par value, 210,000,000 shares authorized, 131,730,649 and 105,454,389 shares outstanding at june 30, 2007 and december 31, 2006, respectively																																																																												66,000
common shares, .0005 par value, 210,000,000 shares authorized, 131,670,777 and 105,454,389 shares outstanding at march 31, 2007 and december 31, 2006, respectively																																																																													66,000
related party receivables																																																																														56,000	55,000	96,000	96,000	98,000	96,000	104,000	165,000	167,000	125,000	126,000
related party receivables—long-term																																																																														38,000				93,000				188,000				120,000
deposits																																																																														457,000	457,000	457,000	457,000	457,000				159,000
series a, 210,000 designated, no shares issued and outstanding at december 31, 2006 and 2005
series b, 8,000 designated, 2,959 shares issued and outstanding at december 31, 2006 and 2005; aggregate liquidation preference of 29.6 million																																																																														1,000
common shares, .0005 par value, 210,000,000 shares authorized, 105,454,389 and 86,312,712 shares outstanding at december 31, 2006 and 2005, respectively																																																																														53,000
related party receivables – long-term																																																																															75,000	75,000	75,000		130,000	171,000	171,000		76,000	116,000	103,000
series a, 135,000 designated, no shares issued and outstanding
common shares, .0005 par value, 210,000,000 shares authorized, 97,569,353 and 86,312,712 shares outstanding at september 30, 2006 and december 31, 2005, respectively																																																																															49,000
common shares, .0005 par value, 210,000,000 shares authorized, 97,409,289 and 86,312,712 shares outstanding at june 30, 2006 and december 31, 2005, respectively																																																																																49,000
long-term investments																																																																																	1,082,000
common shares, .0005 par value, 210,000,000 shares authorized, 95,384,839 and 86,312,712 shares outstanding at march 31, 2006 and december 31, 2005, respectively																																																																																	48,000
notes payable																																																																																						116,000	286,000	453,000
capital lease obligations																																																																																			49,000	104,000	156,000	237,000	279,000	361,000
series a, 135,000 designated, no shares issued and outstanding at december 31, 2005 and 2004
series b, 8,000 designated, 2,959 shares issued and outstanding at december 31, 2005 and 2004; aggregate liquidation preference of 29.6 million																																																																																		1,000
common shares, .0005 par value, 210,000,000 shares authorized, 86,312,712 and 85,587,174 shares outstanding at december 31, 2005 and 2004, respectively																																																																																		43,000
common shares, .0005 par value, 210,000,000 shares authorized, 86,294,010 and 85,587,174 shares outstanding at september 30, 2005 and december 31, 2004, respectively																																																																																			43,000
receivables – long-term																																																																																				218,000
common shares, .0005 par value, 210,000,000 shares authorized, 86,276,623 and 85,587,174 shares outstanding at june 30, 2005 and december 31, 2004, respectively																																																																																				43,000
common shares, .0005 par value, 135,000,000 shares authorized, 86,252,640 and 85,587,174 shares outstanding at march 31, 2005 and december 31, 2004, respectively																																																																																					43,000
convertible note
capital lease obligations—long-term																																																																																										272,000
series a, 135,000 designated, no shares issued and outstanding at december 31, 2004 and 2003
series b, 8,000 designated, 2,959 shares issued and outstanding at december 31, 2004 and 2003; aggregate liquidation preference of 29.6 million																																																																																						1,000
common shares, .0005 par value, 135,000,000 shares authorized, 85,587,174 and 83,998,697 shares outstanding at december 31, 2004 and 2003, respectively																																																																																						43,000
prepaid expenses and other																																																																																							1,335,000	1,146,000	1,132,000	1,267,000
capital lease obligations – long-term																																																																																							74,000	137,000	148,000
series b, 8,000 designated, 2,959 and 2,959 shares issued and outstanding, respectively. aggregate liquidation preference of 29.6 million.																																																																																							1,000	1,000	1,000
common shares, .0005 par value, 135,000,000 shares authorized, 85,565,765 and 83,998,697 shares outstanding, respectively																																																																																							43,000
common shares, .0005 par value, 135,000,000 shares authorized, 84,632,381 and 83,998,697 shares outstanding, respectively																																																																																								42,000
related party receivables – current																																																																																									85,000
notes payable – current																																																																																									10,389,000
capital lease obligations – current																																																																																									490,000
convertible note – current																																																																																									5,319,000
interest bearing long-term obligation																																																																																									40,117,000	39,906,000
common shares, .0005 par value, 135,000,000 shares authorized, 84,313,795 and 83,998,697 shares outstanding, respectively																																																																																									42,000
related party receivables—current																																																																																										94,000
inventory
short-term loan
notes payable—current																																																																																										13,343,000
capital lease obligations—current																																																																																										520,000
deferred revenue—current																																																																																										90,000
convertible note—current																																																																																										5,284,000
convertible subordinated note—long-term
series a, 135,000 designated, no shares issued and outstanding at december 31, 2003 and 2002, respectively
series b, 8,000 designated, 2,959 and no shares issued and outstanding at december 31, 2003 and 2002, respectively. aggregate liquidation preference of 29.6 million at december 31, 2003																																																																																										1,000
common shares, .0005 par value, 135,000,000 shares authorized, and 83,998,697 and 71,793,647 shares outstanding at december 31, 2003 and 2002, respectively																																																																																										42,000
additional paid-in-capital																																																																																										647,534,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31

cash flows from operating activities:
net income	4,465,000	6,103,000	14,051,000	9,191,000	2,367,000																	22,666,000			-4,758,000				3,233,000	-3,012,000				-1,319,000																															-21,785,000				6,239,000									-14,487,000	-10,836,000	-5,915,000	-20,603,000	-9,725,000	-8,994,000	-8,582,000	30,080,000
adjustments to reconcile net income to net cash from operating activities:
adjustment for income from eir method purchased receivables	4,021,000	-6,552,000	4,562,000	-5,678,000	1,743,000
stock-based compensation expense	2,281,000	3,915,000	1,770,000	1,605,000	1,983,000	2,176,000	2,590,000	2,690,000	2,856,000	2,649,000	2,717,000	2,163,000	1,570,000	988,000	805,000	837,000	978,000	1,750,000	779,000	768,000	2,898,000	692,000	708,000	773,000	1,788,000	715,000	1,494,000	1,011,000	1,728,000	869,000	847,000	770,000	1,416,000	2,408,000	2,038,000	1,855,000	1,000,000	1,445,000	1,729,000	2,165,000	2,306,000	1,409,000	1,964,000	2,689,000	3,665,000	887,000	3,537,000	2,424,000	3,924,000	1,153,000	1,227,000	1,100,000	1,619,000	916,000	2,122,000	572,000	674,000																								390,000
gains on acquisitions	-3,545,000	-3,220,000
gain on lease termination	-27,000
income tax expense	1,000	54,000
common stock contribution to 401	124,000	0	0	0	141,000	0	0	0	118,000	0	0	0	123,000	0	0	0	85,000	0	0	0	90,000	0	0	0	88,000	0	0	0	102,000	0	0	0	20,000			0	506,000	0	0	0	785,000	0	0	0	986,000	0	0	0	870,000	0	0	0	828,000	0	0	0	1,134,000
amortization of intangible assets	892,000	884,000	878,000	655,000	544,000					224,000	224,000	224,000	225,000
depreciation	3,000	3,000	2,000	3,000	3,000	2,000	3,000	3,000	2,000	1,000	0	1,000	1,000	0	4,000	1,000	2,000																		58,000				185,000	203,000	215,000	213,000	417,000	444,000	458,000	458,000	457,000	464,000	477,000	561,000	601,000	633,000	780,000	816,000	889,000	1,154,000	1,265,000		1,350,000	1,356,000	1,346,000
accretion of long-term debt discount and debt issuance costs	332,000	249,000	387,000	322,000	427,000	354,000	488,000	202,000	306,000
non-cash lease expense	17,000	17,000	16,000	14,000	17,000	15,000	16,000	15,000	14,000	4,000	18,000	50,000	47,000	43,000	43,000	42,000	42,000	41,000	40,000	40,000	39,000	38,000	38,000	37,000	37,000	2,060,000	-73,000	-57,000	-40,000
change in fair value of equity securities	-112,000	1,140,000	3,943,000	-6,320,000	1,147,000	493,000	-89,000	-283,000	-252,000	53,000	106,000	-9,000	24,000	109,000	79,000	24,000	227,000	437,000	1,099,000	-1,289,000	672,000	879,000	-2,041,000	-123,000	273,000
change in fair value of available-for-sale debt securities classified as cash equivalents	66,000	-69,000	0	4,000	45,000	-31,000
change in fair value of derivatives	-12,000	-103,000	15,000
cvr liability working capital adjustment	131,000
changes in assets and liabilities:
trade and other receivables	325,000	-1,239,000	-1,209,000	3,727,000	-3,705,000	-794,000	-519,000	-523,000	1,001,000	-961,000	858,000	-895,000	-5,000	15,000	-11,000	20,000	184,000	309,000	-506,000	68,000	183,000	1,368,000	189,000	901,000	212,000	800,000	-1,207,000	178,000	-1,329,000	-111,000	-835,000	-44,000	-39,000	629,000	9,605,000	-10,098,000	33,000	219,000	203,000	1,018,000	2,092,000	35,273,000	-36,694,000	622,000	38,000	111,000	2,089,000	-1,198,000	-530,000	1,849,000	1,663,000	-1,023,000	1,997,000	-1,187,000	-600,000	3,683,000	2,168,000	2,568,000
prepaid expenses and other assets	753,000	2,000,000	124,000	539,000	1,176,000	374,000	531,000	-816,000	213,000	421,000	-105,000	-366,000	269,000	272,000	55,000	-602,000	204,000	357,000	175,000	-926,000	225,000	402,000	178,000	-644,000	147,000	505,000	103,000	-410,000	42,000	15,000	76,000														-2,000	268,000	-439,000	432,000	-923,000	1,523,000	-162,000	-78,000	-802,000	263,000	-1,127,000	2,357,000	-1,651,000	-619,000	-249,000	-1,848,000	247,000	814,000	248,000	-656,000	-207,000
accounts payable and accrued liabilities	-2,628,000	-7,349,000	-2,861,000	2,878,000	-3,265,000	2,946,000	-2,269,000	1,026,000	-105,000	31,000	215,000	-3,891,000	3,122,000	1,249,000	14,000	537,000	45,000	-190,000	207,000	-298,000	1,046,000	-78,000	-312,000	-190,000	38,000	-474,000	39,000	309,000	-116,000	617,000	643,000	-828,000	-1,593,000	-2,307,000	140,000	-907,000	-3,480,000	602,000	-1,470,000	1,831,000	-4,901,000	-1,256,000	3,589,000	2,501,000	-6,455,000	618,000	787,000	542,000	-5,721,000	5,031,000	1,998,000	3,000,000	-7,128,000	1,034,000	5,045,000	1,627,000	-3,221,000	-839,000	1,200,000	2,924,000	-5,429,000	433,000	1,923,000	1,634,000	-1,340,000
operating lease liabilities	-656,000	-608,000	-49,000	-111,000	-108,000	-99,000	-103,000	-67,000	-15,000	6,000	-18,000	-52,000	-50,000	-51,000	-48,000	-48,000	-48,000	-46,000	-45,000	-44,000	-44,000	-43,000	-41,000	-40,000	-39,000
unearned revenue recognized under units-of-revenue method	-310,000	-332,000	-307,000	-354,000	-317,000	-1,742,000	-711,000	-627,000	-490,000	-533,000	-605,000	-533,000	-437,000	-636,000	-426,000	-458,000	-357,000	-521,000	-390,000	-375,000	-356,000	-392,000	-357,000	-391,000	-304,000	-322,000	-330,000	-337,000	-105,000	-135,000	-121,000	87,000	-62,000
net cash from operating activities	6,121,000	-5,501,000	-296,000	6,470,000	2,198,000	-2,903,000	-8,625,000	2,727,000	-4,947,000	-3,927,000	-2,099,000	-7,208,000	-4,924,000	-3,890,000	-3,663,000	-4,317,000	-1,009,000	30,642,000	-3,075,000	-3,975,000	-914,000	17,678,000	-2,436,000	-2,870,000	-2,280,000	-4,148,000	3,799,000	-3,093,000	3,157,000	-2,712,000	-2,744,000	-3,349,000	-3,839,000	-5,225,000	30,666,000	-8,407,000	-14,348,000	6,998,000	-12,045,000	-12,356,000	-16,286,000	28,767,000	-19,032,000	-16,347,000	-24,280,000	-17,379,000	-15,804,000	-16,899,000	-28,200,000	-7,313,000	-12,830,000	-11,244,000	-14,528,000	-11,333,000	-11,165,000	-6,592,000	-11,675,000	-8,087,000	-7,642,000	-10,133,000	-3,200,000	-9,627,000	-10,400,000	-16,132,000	-16,378,000	-4,021,000	10,013,000	-13,896,000	15,339,000	2,789,000	-9,342,000	-12,050,000	-14,372,000	-2,845,000	22,556,000	-6,127,000	-9,041,000	-4,694,000	-10,108,000	-4,815,000	-13,653,000	-3,095,000	-8,770,000	-13,504,000	-18,821,000	-11,766,000	-20,373,000	-9,911,000	-2,777,000
capital expenditures	0	0	0	0		-3,000	0	0	-17,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0		0	0	0	-31,000	0	-60,000	-181,000	-225,000	0	-147,000	-31,000	-49,000	-100,000	-210,000	-361,000	-498,000	0	-976,000	0	-548,000	-718,000	0	0	-888,000	-62,000	-23,000	-147,000	-107,000	-23,000	-15,000	-53,000	-179,000	-718,000	-1,930,000	-3,164,000	-2,248,000	-2,964,000	-2,673,000	-1,953,000	-1,879,000	-1,677,000	-1,558,000	-1,859,000	-3,412,000	-2,232,000	-1,151,000	-1,165,000	-296,000	-122,000	-1,084,000	0	-729,000
free cash flows	6,121,000	-5,501,000	-296,000	6,470,000		-2,906,000	-8,625,000	2,727,000	-4,964,000	-3,927,000	-2,099,000	-7,208,000	-4,924,000	-3,890,000	-3,663,000	-4,317,000	-1,009,000	30,642,000	-3,075,000	-3,975,000	-914,000	17,678,000	-2,436,000	-2,870,000	-2,280,000	-4,148,000	3,799,000	-3,093,000	3,157,000	-2,712,000	-2,744,000	-3,349,000	-3,839,000	-5,225,000	30,666,000	-8,407,000		6,998,000	-12,045,000	-12,356,000	-16,317,000	28,767,000	-19,092,000	-16,528,000	-24,505,000	-17,379,000	-15,951,000	-16,930,000	-28,249,000	-7,413,000	-13,040,000	-11,605,000	-15,026,000	-11,333,000	-12,141,000	-6,592,000	-12,223,000	-8,805,000	-7,642,000	-10,133,000	-4,088,000	-9,689,000	-10,423,000	-16,279,000	-16,485,000	-4,044,000	9,998,000	-13,949,000	15,160,000	2,071,000	-11,272,000	-15,214,000	-16,620,000	-5,809,000	19,883,000	-8,080,000	-10,920,000	-6,371,000	-11,666,000	-6,674,000	-17,065,000	-5,327,000	-9,921,000	-14,669,000	-19,117,000	-11,888,000	-21,457,000	-9,911,000	-3,506,000
cash flows from investing activities:
net cash, cash equivalents, and restricted cash acquired in generation bio acquisition	8,458,000
payment of contingent consideration related to lava cvr	-2,141,000
payments of consideration under rpas, aaas, and cppas		0	0	0	-8,000,000	-16,000,000
receipts under rpas, aaas, and cppas	235,000	161,000	1,100,000	732,000	1,307,000	2,985,000
net cash from investing activities	6,552,000	19,347,000	58,213,000	-19,981,000	-6,693,000	-36,431,000	9,522,000	5,896,000	-7,246,000	5,511,000	5,494,000	-4,482,000	-7,234,000	-15,247,000	26,000	0	-5,000,000	-6,000,000	-7,000,000	0	-13,500,000	-200,000				0	-13,000,000	-6,000,000	-300,000	0				16,000	-24,000	801,000	813,000	-24,000	622,000	45,000	-31,000	4,898,000	-42,000	-181,000	-225,000	4,902,000	4,853,000	9,969,000	-49,000		-210,000	19,639,000	19,502,000		-5,522,000	-12,563,000	-548,000	-718,000	-333,000	-1,365,000	-888,000	-62,000	-23,000	-147,000	-107,000	-23,000	6,046,000	7,884,000	-3,332,000	6,771,000	-5,374,000	-6,977,000	8,769,000	-17,537,000	1,832,000	3,716,000	3,157,000	-11,402,000	8,587,000	-1,185,000	-4,443,000	5,960,000	-32,384,000	-1,165,000	206,000	-117,000	-1,084,000	-708,000	-729,000
cash flows from financing activities:
principal payments – debt	-6,391,000	0	-5,533,000	1,000	-5,066,000	0	-3,286,000	0	-3,616,000									0	0	-2,125,000	-2,125,000	-2,125,000	-1,313,000	-937,000	-938,000
debt issuance costs and loan fees paid in connection with long-term debt	-80,000	0	0			0	-79,000	-80,000	-581,000
payment of preferred stock dividends	-1,424,000	-1,368,000	-1,368,000	-1,368,000	-1,368,000	-1,368,000	-1,368,000	-1,368,000	-1,368,000	-1,368,000	-1,368,000	-1,368,000	-1,368,000	-1,368,000	-1,368,000	-1,368,000	-1,368,000
repurchases of common stock	-264,000	-13,648,000	-25,000	-1,825,000	-545,000	0	0	0	-13,000
proceeds from exercise of options and other share-based compensation	565,000	1,624,000	2,526,000	571,000	325,000	1,087,000	1,774,000	397,000	1,956,000	258,000	0
taxes paid related to net share settlement of equity awards	-46,000	-967,000	-1,449,000	-330,000	-240,000	-785,000	-1,042,000	-53,000	-1,334,000	-143,000	0			0	-360,000	-65,000	-973,000	-9,000	-124,000	-236,000	-119,000	-2,379,000	0			228,000	-397,000	-48,000	-59,000	-9,000	0	-234,000	-3,000	-849,000
net cash from financing activities	-7,640,000	-10,689,000	-5,849,000	-3,031,000	-6,894,000	-1,066,000	-4,001,000	-1,104,000	-4,956,000	124,494,000	-1,368,000	-1,165,000	-1,368,000	-1,322,000	-1,260,000	-1,134,000	-735,000	-1,439,000	-1,536,000	17,810,000	-2,000,000	23,161,000	-1,321,000	-951,000	-1,096,000	21,092,000	6,618,000	2,984,000	-201,000	20,059,000	7,493,000	71,000	2,316,000	921,000	4,446,000	20,000	7,871,000	-1,846,000	-1,813,000	16,000	-3,299,000	80,000	149,000	-2,000	13,574,000	36,877,000	-732,000	-881,000	296,000	55,075,000	29,094,000	-840,000	60,000	37,862,000	3,969,000	-815,000	38,766,000	11,442,000	2,525,000	5,781,000	24,231,000	30,133,000	15,182,000	-37,000	20,993,000	227,000	-15,949,000	12,067,000	41,000	-6,233,000			-8,082,000	1,112,000	208,000	2,072,000	-4,605,000	33,581,000	240,000	3,083,000	12,007,000	3,355,000	-31,000	8,759,000	56,486,000	-239,000	3,398,000	-13,930,000	-2,768,000
net increase in cash, cash equivalents, and restricted cash	5,033,000	3,157,000
cash, cash equivalents, and restricted cash as of the beginning of the period	133,710,000	0	0	0	106,416,000	0
cash, cash equivalents, and restricted cash as of the end of the period	138,743,000	3,157,000	52,068,000	-16,542,000	95,027,000	-40,400,000
supplemental cash flow information:
cash paid for interest	5,555,000			0	6,078,000	0	6,205,000	0	3,780,000									0	0	191,000	120,000	146,000	167,000	180,000	199,000	201,000	140,000	110,000	107,000						122,000	0	396,000	418,000	597,000	481,000	646,000	475,000
cash paid for taxes				0	277,000									-19,000	0	0	95,000														0
non-cash investing and financing activities:
accrual of contingent value rights liability in the generation bio acquisition	4,583,000
transaction costs in connection with generation bio acquisition included in accounts payable and accrued expenses	35,000
adjustment to the contingent value rights liability soon after the acquisitions	229,000
reclassification of liability awards to equity classified	3,509,000
preferred stock dividend accrual	1,452,000			0	1,368,000	0	0	0	1,368,000	0	0	0	1,368,000	0	0	0	1,368,000	0	-56,000	717,000	707,000
credit losses on purchased receivables
gain on sale of equity securities		0
net cash acquired in kinnate acquisition						0	0
net cash acquired in turnstone acquisition
net cash and restricted cash acquired in hillevax acquisition
net cash, cash equivalents, and restricted cash acquired in lava acquisition
net cash and cash equivalents acquired in mural acquisition
net payment for ip acquired under the pulmokine acquisition
payment for bioinvent contract-based intangible asset		0	-111,000
payment of contingent consideration related to kinnate ip asset		0
purchase of property and equipment						-3,000	0	0	-17,000													0								0									0																		-548,000	-718,000			-888,000	-62,000	-23,000	-147,000	-107,000	-23,000	-15,000	-53,000	-179,000	-718,000	-1,930,000	-3,164,000	-2,248,000	-2,964,000	-2,673,000	-1,953,000	-1,879,000	-1,677,000	-1,558,000	-1,859,000	-3,412,000	-2,232,000	-1,151,000	-1,165,000	-296,000	-122,000	-1,084,000
purchase of equity securities		0	0
sale of equity securities		0
payment to issue short-term loan to xeno
receipt from short-term loan repayment by xeno
proceeds from issuance of common stock
proceeds from issuance of preferred stock																		0	0
payments of preferred and common stock issuance and financing costs
net cash, cash equivalents, and restricted cash acquired in turnstone acquisition
net cash, cash equivalents, and restricted cash acquired in hillevax acquisition
gain on the acquisition of kinnate						0	0
net decrease in cash, cash equivalents, and restricted cash				-16,542,000	-11,389,000
estimated fair value of the exarafenib milestone asset
estimated fair value of the exarafenib milestone contingent consideration
right-of-use assets obtained in exchange for operating lease liabilities in kinnate acquisition						0	0
relative fair value basis reduction of rights-of-use assets in kinnate acquisition
accrual of contingent consideration under the affitech cppa						0	0	0	3,000,000	3,000,000
excise tax accrual due to stock repurchases
transaction costs in connection with bioinvent ip acquisition included in accounts payable
adjustments to reconcile net income to net cash from (used in) operating activities:
net loss						-3,968,000			-8,595,000	-20,109,000	-5,509,000	-5,400,000	-9,813,000		-4,178,000	-4,670,000	-2,280,000		-4,436,000	-2,237,000	-7,373,000											-1,947,000	-3,806,000			286,000	-10,715,000	-17,480,000	-12,525,000	-15,160,000	-8,365,000	25,352,000	-481,000	-23,759,000	-21,718,000	-7,318,000	-14,399,000	-11,897,000	-4,687,000	-52,299,000	-29,624,000	-17,248,000	-24,887,000	2,366,000	-26,851,000	-16,155,000	-30,425,000		-6,542,000	-8,131,000	-6,335,000		-13,633,000				1,538,000			9,982,000	-20,362,000	-20,690,000	-14,175,000		21,817,000	-8,338,000	-15,928,000									-17,588,000	-20,143,000	-21,043,000	-20,168,000
adjustments to reconcile net loss to net cash from operating activities:
income from purchased receivables under the eir method
impairment charges
income tax benefit
change in fair value of contingent consideration under rpas, aaas, and cppas										0	0

proceeds from issuance of long-term debt																										0	6,500,000			0																													0	0	20,102,000									0	0							33,538,000	0
right-of-use assets obtained in exchange for operating lease liabilities										383,000	0	0	85,000
issuance of common stock warrants in connection with long-term debt
accrued issuance costs in connection with issuance of long-term debt
estimated initial fair value of contingent consideration under the ladrx agreement
estimated initial fair value of the exarafenib milestone asset in kinnate acquisition						0
estimated initial fair value of the exarafenib milestone contingent consideration in kinnate acquisition						-5,844,000
relative fair value basis reduction of right-of-use assets in kinnate acquisition						0	0
accrual of contingent consideration under the ladrx aaa						0
income from purchased receivables under effective interest rate method							-5,423,000
royalty purchase agreement asset impairment							14,000,000				0
estimated fair value of contingent consideration under the ladrx agreements										0	0
payments of consideration under rpas, aaas and cppas								-22,000,000	-15,000,000	0	0
receipts under rpas, aaas and cppas								8,970,000	7,771,000	5,528,000	5,494,000
net decrease in cash, cash equivalents and restricted cash								7,519,000	-17,149,000		2,027,000	-12,855,000	-13,526,000		-4,897,000
cash, cash equivalents and restricted cash as of the beginning of the period
cash, cash equivalents and restricted cash as of the end of the period
cash, cash equivalents and restricted cash at the beginning of the period									159,550,000		0	0	57,826,000
cash, cash equivalents and restricted cash at the end of the period									142,401,000	126,078,000	2,027,000	-12,855,000	44,300,000	-20,459,000	-4,897,000	-5,451,000	88,633,000
accretion of long-term debt
income taxes payable														0	0	0	-91,000																	-69,000
payment for ip acquired under the obseva ip acquisition agreement
debt issuance costs and loan fees																														0	-36,000											0	0	-35,000	-477,000
net increase in cash, cash equivalents and restricted cash
cash, cash equivalents at the beginning of the period
accrued transaction costs in connection with obseva ip acquisition
payments of consideration under rpas and cppas													-9,600,000
receipts under rpas and cppas													2,366,000
estimated fair value of contingent consideration under the aptevo cppa													50,000
amortization of debt issuance costs, debt discount and final payment on debt																		0	0	73,000	127,000	152,000	172,000	183,000	191,000	202,000	156,000	124,000	110,000	105,000	24,000
loss on extinguishment of debt																		0	0															0	135,000	0	515,000
reduction of contingent nih refund liability
income tax receivable																		0	0	0	1,526,000	0	0	0	-1,526,000
contingent nih refund liability
other liabilities																		-21,000	0	-57,000	51,000	88,000	100,000	151,000	158,000	167,000	167,000	186,000	241,000	399,000	437,000	324,000	18,000						0	0	-500,000	-49,000	-7,000			-2,000	-5,000	-30,000	-51,000	-5,000	-4,000	-108,000	-1,554,000	122,000	15,000	-25,000	-37,000	-119,000	103,000	65,000	-90,000	9,000	-17,000	-95,000	-144,000	-275,000	-304,000	-805,000	-92,000	132,000
payment of preferred and common stock issuance costs																		-137,000	-142,000								0	-1,000	-376,000
payment for extinguishment of debt																		0	0
payment for debt modification fee																			0
cash and restricted cash at the beginning of the period														0	0	0	95,377,000	0	0	0	86,364,000
estimated fair value of contingent consideration under the affitech cppa
payment of contingent consideration under rpas and cppas															-3,000,000	0	-5,000,000
receipts related to purchase of royalty rights and other commercial payment rights
payments related to purchase of royalty rights and other commercial payment rights
proceeds from exercise of options															468,000	299,000	1,606,000		137,000	847,000	508,000		17,000			-166,000	519,000	20,000	237,000	70,000	32,000	467,000	14,000
accrued cost related to issuance of preferred stock
net decrease in cash and cash equivalents																	-6,744,000															-3,278,000	-1,503,000			-7,580,000	-5,697,000	5,124,000	-13,236,000	-12,299,000	-19,614,000		-18,911,000	-16,534,000	-10,954,000																											11,919,000	-13,685,000			-339,000	-10,489,000										-18,059,000	-24,549,000	-6,274,000
accrued cost related to issuance of common stock
non-cash portion of novartis milestone payment
receipts related to purchased royalty rights
payment for preferred stock dividends																		-1,368,000	-1,424,000
other																															0	1,000	-21,000	-201,000	205,000	2,000	55,000	33,000	33,000	48,000	-2,000
net increase in cash and restricted cash
cash and restricted cash at the end of the period																		23,203,000	-11,611,000	13,835,000	69,950,000
interest added to principal balance on long-term debt																						173,000	0			334,000	0				0				0				0
accrued cost related to issuance of capital stock
depreciation and amortization																			2,000	2,000	2,000	3,000	7,000	6,000	6,000	6,000	7,000	6,000	6,000	7,000	8,000	7,000	8,000				147,000																									1,372,000	1,393,000	1,445,000	1,511,000	1,547,000	1,686,000	1,782,000	1,816,000	1,796,000	1,717,000	1,595,000	1,613,000	1,574,000	1,558,000	1,541,000	1,482,000	1,386,000	1,348,000	1,223,000	1,160,000	1,724,000	1,141,000	1,113,000	1,105,000	1,293,000	1,076,000	1,101,000	1,083,000
provision for bad debt																							0	0	1,409,000
payments related to purchase of royalty rights																			-7,000,000	0	-13,500,000					0	-13,000,000
principal payments – finance lease																						-3,000	-5,000			-4,000	-4,000	-4,000	-3,000
proceeds from disgorgement of stockholder's short-swing profits																						0	0	0	13,000
net decrease in cash and restricted cash																			-11,611,000	13,835,000	-16,414,000
payment of preferred and common stock issuance costs for current and prior year																					-264,000
accrued financing costs related to issuance of common stock																					87,000
accrued financing costs related to issuance of preferred stock																					81,000
payments in excess of loss recognized upon early lease termination
accrued cost related to issuance of preferred and common stock
issuance of common stock warrant under svb loan																										0	0	0	66,000		0
estimated fair value of contingent consideration under the royalty purchase agreements																										0	-3,000,000
proceeds from issuance of common stock, net of issuance costs																							0			21,912,000	0			3,732,000	0	22,000	2,309,000					12,000	0			121,000	149,000	77,000	134,000	37,919,000	310,000	160,000	3,053,000	54,379,000	29,697,000	202,000	60,000	37,867,000	198,000	-54,000	39,480,000
payment of stock issuance costs																							-20,000
net decrease in cash																							-3,766,000				-2,583,000
cash at the beginning of the period																							0	0	56,688,000	0	0	0	45,780,000
cash at the end of the period																							-3,766,000	-3,821,000	53,312,000	16,944,000	-2,583,000	-6,109,000	48,436,000
accrued cost related to issuance of stock
payment of preferred and common stock issuance costs for prior year																									-166,000
net increase in cash																									-3,376,000				2,656,000
prepaid financing cost related to issuance of common stock																															0	0	100,000
fair value of rezolute common stock shares received as consideration for license agreement																														0	0
realized gain on foreign currency exchange
income tax payable																														0	0	-1,666,000	29,000
proceeds from issuance of convertible preferred stock, net of issuance costs
effect of exchange rate changes on cash																														0	0	0	20,000	12,000	194,000	6,000	-33,000		0	-4,000	2,000	-24,000	14,000	-4,000	-23,000	-15,000												0	0	0	-573,000
loss on sublease																															830,000
change in fair value of long-term equity securities																											265,000	-31,000	-715,000	-45,000	206,000
the accompanying notes are an integral part of these condensed consolidated financial statements.
purchase of royalty rights in connection with bioasis purchase agreement																													-300,000
estimated fair value of contingent consideration under the bioasis royalty purchase agreement																													75,000
license fee recognized related to repayment of principal and accrued interest under the servicer loan
realized loss on foreign currency exchange
net gain on sale, disposal and impairment of equipment
proceeds from sale of equipment																																				801,000	813,000
purchase of royalty rights in connection with agenus purchase agreement																														0
payment of final fee related to loan extinguishment																																		0	0	0	-1,150,000
principal payments – capital lease																														-3,000	-3,000	-3,000	-4,000
net increase in cash and cash equivalents																														17,347,000				-4,276,000												24,385,000	-11,835,000	-7,811,000	-27,953,000	27,671,000	16,054,000	7,555,000	5,034,000	3,146,000	-12,718,000	-19,970,000	26,543,000	2,064,000	-5,450,000	-5,717,000	20,143,000	20,444,000	4,759,000	-16,316,000	4,508,000	-3,817,000	110,000	6,055,000	12,048,000	3,327,000				-19,270,000						-2,917,000	-6,089,000			-5,910,000	37,871,000
cash and cash equivalents at the beginning of the period																														0	0	0	43,471,000		0	0	25,742,000		0	0	65,767,000		0	0	78,445,000		0	0	101,659,000		0	0	45,345,000		0	0	48,344,000	0	0	0	37,304,000	0	0	0	23,909,000	0	0	0	9,513,000	0	0	0	22,500,000	0	0	0	28,002,000	0	0	0	20,804,000	0	0	0	23,808,000	0	0	0	84,812,000
cash and cash equivalents at the end of the period																														17,347,000	-10,257,000	-3,278,000	41,968,000		35,282,000	-7,580,000	20,045,000		-13,236,000	-12,299,000	46,153,000		-18,911,000	-16,534,000	67,491,000		-11,835,000	-7,811,000	73,706,000		16,054,000	7,555,000	50,379,000		-12,718,000	-19,970,000	74,887,000	2,637,000	-5,450,000	-5,717,000	56,874,000	20,444,000	4,759,000	-16,316,000	28,417,000	-3,817,000	110,000	6,055,000	21,561,000	3,327,000	-14,548,000	11,919,000	8,815,000	-19,270,000	24,596,000	-339,000	17,513,000	17,485,000	-1,281,000	-2,917,000	14,715,000	6,220,000	-41,185,000	-5,910,000	61,679,000	-12,122,000	-18,059,000	-24,549,000	78,538,000
the accompanying notes are an integral part of these consolidated financial statements.
unrealized loss on foreign currency exchange																																			248,000	938,000	261,000		135,000	-310,000	559,000												-440,000	383,000	295,000	-759,000	376,000	-623,000	-740,000	257,000	1,619,000
gain on sale and disposal of equipment
repayment of principal and accrued interest under the servier loan
accrued interest on long-term debt																																143,000	138,000
gain on sale of equipment																																					-1,314,000
prepaid expenses and other current assets																																	53,000			-70,000	345,000	358,000	-205,000	466,000	415,000	991,000	-761,000																								327,000	-680,000	318,000	562,000
proceeds from sale of property and equipment																																		0				4,000	0			0												11,000
other receivable related to sale of equipment
license fee recognized related to repayment of principal and accrued interest under the servier loan
unrealized gain on foreign currency exchange																																											227,000	378,000	-1,949,000		-1,300,000	-175,000	-66,000		173,000
revaluation of contingent warrant liabilities																																						-9,000	-260,000	-3,263,000	-6,932,000	6,394,000	-24,422,000	176,000	40,000	-12,088,000	-5,721,000	-7,962,000	-20,002,000	35,294,000	11,124,000	1,781,000	12,840,000	-16,574,000	9,208,000	2,181,000	14,357,000
gain on sale of marketable securities																																						0
impairment of non-marketable cost method investment
gain on sale of business in connection with agenus asset purchase agreement
accrued restructuring costs																																		-314,000	-576,000	-773,000	-1,801,000
accrued interest on interest bearing obligations																																		129,000	41,000	178,000	-76,000	156,000	22,000	159,000	-6,000	199,000	-29,000	120,000	90,000	184,000	-58,000	194,000	-1,764,000	253,000	274,000	215,000	1,542,000	308,000	267,000	217,000	394,000	261,000	267,000	264,000	231,000		96,000	83,000	81,000		-1,099,000	-1,799,000	1,677,000
deferred revenue																																		9,494,000	-9,638,000	-109,000	-110,000	18,000,000	-125,000	125,000	-2,306,000	-36,112,000	36,810,000	-179,000	-163,000	-449,000	-1,515,000	-495,000	-524,000	-1,963,000	-723,000	-602,000	-111,000	-563,000	-1,155,000	-2,677,000	884,000	-786,000	-626,000	-6,226,000	-6,156,000	14,632,000	469,000	-418,000	-1,561,000	-8,025,000	3,088,000	-5,031,000	-2,237,000	1,475,000	-643,000	1,572,000	-3,255,000	-700,000	613,000	665,000	518,000	8,346,000	99,000	1,327,000	737,000	-21,000	-572,000	570,000	-450,000	-500,000	-530,000	4,303,000	4,970,000
purchases of property and equipment
proceeds from sale of marketable securities																																						0
proceeds from sale of business in connection with agenus asset purchase agreement
proceeds from exercise of warrants																																										0	0			0	0	0	35,000	1,738,000
proceeds from issuance of long term debt																																										0	0	0	20,000,000
cash and cash equivalents at the beginning of the year
cash and cash equivalents at the end of the year
common stock contribution to 401(k) plan
amortization of debt issuance costs, debt discount and final payment fee on debt																																			39,000	119,000	286,000	376,000	359,000
net gain on sale and disposal of equipment
proceeds from issuance of common and preferred stock, net of issuance costs																																			4,487,000	20,000	25,452,000
principal payments ─ debt																																			0	0	-16,380,000		-1,786,000	0	-3,271,000
principal payments ─ capital lease																																			0	0	-51,000		-27,000	-29,000	-28,000
other receivables related to the sale of equipment																																					811,000
loss on loan extinguishment																																										0	0	0	429,000
impairment of long-lived assets and non-marketable cost method investment
accrued restructuring
proceeds from maturities of investments																																														5,000,000	5,000,000			0	0	20,000,000	20,000,000													0	0	0	1,300,000	2,630,000	2,675,000
effect of exchange rate on cash
marketable securities received in conjunction with the disposal of business
equipment acquired through capital lease
reclassification of contingent warrant liability to equity upon exercise of warrants																																										0	-464,000			0	0	-1,000	-2,525,000	-4,586,000
issuance of warrants																																													450,000
interest added to principal balances on long-term debt																																										168,000	0			156,000	0			190,000	272,000	183,000	290,000	219,000	343,000	200,000	398,000
non-cash financing activities:
issuance of common stock warrants in connection with hercules term loan																																											0
amortization of debt discount, final payment fee on debt, and debt issuance costs																																									354,000	383,000	374,000	360,000	296,000	666,000	679,000	688,000	674,000	629,000	627,000	611,000	603,000	570,000	449,000
net purchase of property and equipment																																									-31,000		-60,000	-181,000	-225,000		-147,000	-31,000	-49,000	-100,000	-210,000	-361,000	-498,000		-976,000
loss on sale and retirement of property and equipment
unrealized loss on foreign exchange options																																										1,000	-1,000	1,000	5,000	29,000	87,000	117,000	122,000	-57,000	-5,000	0	189,000	-7,000	110,000	335,000	276,000
other non-cash adjustments																																														-4,000	-3,000	-3,000	1,000	1,000	1,000	-18,000	-4,000	1,000	8,000	52,000	-43,000	60,000	36,000	1,000	10,000	-9,000	7,000	11,000	1,000					-3,000	6,000	-20,000	-3,000	-520,000	514,000	0	-1,000	1,000	0	-2,000	-2,000
purchase of investments																																																																						0	0	0	-3,199,000	-15,069,000	-5,275,000	-5,750,000	-6,900,000	-8,500,000	-3,800,000	-6,700,000	-9,391,000
investment in symplmed pharmaceuticals, llc
gain on sale and retirement of property and equipment
principal payments of debt																																											0	-45,000	-6,083,000	-1,042,000	-1,042,000	-1,041,000	-2,792,000	-1,042,000	-1,041,000			0	-715,000	-714,000	-714,000									0
cash paid for:
interest																																												459,000	333,000	161,000	435,000	219,000	2,194,000	274,000	309,000	346,000	333,000	312,000	257,000
restructuring charge related to long-lived assets																																																						219,000	160,000	374,000	1,707,000
proceeds from issuance of long-term debt, net of issuance costs																																																						-5,000
cash paid during the year for:
discount on long-term debt																																																						0				-215,000	0	0	-8,899,000
loss on sale costs and retirement of property and equipment
investment in noncontrolling interest
loss on sale and retirement of property & equipment																																																		0
net from investing activities
income taxes																																																													15,000
loss on sale costs and retirement of property & equipment
payment of issuance costs on long-term debt
warrant modification expense																																																														0	0	0	4,500,000
net used in investing activities
payment for modification of warrants																																																														0	0	0	-4,500,000
issuance of contingent warrant liabilities, net of extinguishments
purchases of investments																																																							-4,998,000
issuance of contingent warrant liabilities																																																							-323,000	-10,000	6,386,000
amortization of discount and final payment fee on debt and debt issuance costs																																																									467,000
cash paid during the quarter for:
revaluation of warrant liability																																																														2,528,000	-3,120,000			-561,000	-229,000
amortization of discount on debt and debt issuance costs
loss on debt extinguishment
transfer of restricted cash																																																																		0	6,061,000	7,937,000	-4,453,000	4,333,000	-5,593,000	-7,382,000	5,116,000	-4,379,000	3,575,000	-3,596,000	2,711,000
payment of prepayment premium on repayment of short-term debt
issuance and extinguishment of warrants
common shares contribution to 401																																																											0
share-based compensation expense																																																											1,542,000	2,284,000	1,772,000	1,170,000	1,662,000	1,120,000	961,000	997,000	1,513,000	856,000	1,029,000	966,000	1,087,000	2,370,000	511,000	723,000	1,002,000	371,000	762,000	147,000	184,000
revaluation of warrant liabilities																																																											-499,000	-460,000	-2,390,000				1,261,000
amortization of discount on long-term debt																																																											358,000	363,000	298,000
unrealized gain on foreign exchange options																																																											-1,000
changes in assets and liabilities affecting cash:
proceeds from issuance of common shares																																																											2,525,000	5,781,000	4,129,000	30,133,000	15,182,000	-37,000	25,493,000	2,770,000	26,044,000	20,468,000	41,000	7,262,000	168,000	70,000	78,000	223,000	208,000	121,000	102,000	43,000	240,000	78,000	40,000	27,000	28,000	35,000	61,000	47,000	3,710,000	922,000	399,000
cash paid for income taxes																																																											0
issuance and extinguishment of warrant liabilities																																																														0	0	0	1,767,000
interest added to principal balance on novartis note																																																											0			189,000	0
interest added to principal balance on servier loan
receivables																																																												-826,000	10,631,000	-12,920,000	572,000	-724,000	-561,000	-4,028,000	3,080,000	3,006,000	7,397,000	-8,724,000	4,567,000	-4,828,000	4,434,000	1,320,000
common shares contribution to 401(k) and management incentive plans																																																													1,046,000	0	0	0	905,000	0	0	0	1,198,000	0	0	0	1,008,000							0	1,088,000	49,000	0	13,000	1,291,000	20,000	0	0	906,000
accrued interest on convertible notes and interest bearing obligations
amortization of discount, premium and debt issuance costs of debt and convertible debt
loss on disposal/retirement of property and equipment																																																																		0	127,000			49,000	0	-42,000	92,000	132,000	0	0	14,000	1,000	6,000	0	4,000					-2,000
proceeds from sales of investments																																																																						0	0
debt reduction on novartis note
amortization of discount, premium and debt issuance costs of interest bearing obligations																																																																			1,173,000	326,000	90,000
suppemental cash flow information:
cash paid during the nine months ended september 30, 2010 for:
income taxes, including foreign withholding taxes																																																															0
cash paid during the first half of 2010 for:
revaluation of embedded derivative																																																																										0	0	0	6,101,000	2,801,000	176,000	-4,050,000	8,018,000
interest paid on conversion of convertible debt																																																																										0	0	0	-5,172,000
fair value of warrant liability
conversion of convertible debt to equity
amortization of premiums on short-term investments																																																																			0	0	1,000	10,000	0	2,000	8,000
impairment charge of property and equipment																																																																			0
accounts payable																																																																			-1,939,000	-458,000	-4,923,000	707,000	-992,000	4,599,000	-1,332,000	986,000	986,000	695,000	142,000	484,000	177,000	-724,000	-1,399,000	3,194,000	638,000	485,000	-588,000	-870,000	637,000	-108,000	-2,798,000
accrued liabilities																																																																			1,052,000	223,000	2,826,000	-3,657,000	1,816,000	1,289,000	-2,720,000	994,000	92,000	709,000	-1,171,000	1,463,000	10,000	1,123,000	-1,227,000	717,000	-673,000	-4,956,000	-8,702,000	6,123,000	-1,328,000	6,105,000	2,268,000
transfer of maturities to short-term investments
principal payments of long-term debt																																																																						-13,495,000	0	-24,124,000	-8,160,000				-4,707,000
principal payments of short-term debt
accrued interest on convertible notes and other interest bearing obligations																																																																						-751,000	1,898,000	1,250,000	-476,000	1,162,000	-443,000	1,122,000	-1,433,000	1,446,000	-524,000	1,108,000	-871,000	863,000	-774,000	989,000	574,000	293,000	291,000	-311,000	305,000
amortization of discount, premium and debt issuance costs of long-term and convertible debt
other assets
proceeds from issuance of convertible notes																																																																														0	0	2,000	11,967,000				56,621,000
amortization of discount, premium and debt issuance costs of convertible debt and interest bearing obligations																																																																							101,000	723,000	309,000
prepaid expenses																																																																								130,000	-386,000	727,000	-569,000	99,000	-309,000	309,000	-153,000	139,000	-381,000	554,000	52,000	-106,000	-60,000
net cash provided (used) by financing activities
proceeds from sales/maturities of investments																																																																									9,100,000	4,875,000	6,205,000	15,015,000	9,225,000	3,105,000	13,945,000
amortization of discount, premium and debt issuance costs of convertible debt
gain on extinguishment of debt
loss on sale of investments
principal payments of short-term loan																																																																																		0	0	0	-115,000	-170,000	-167,000
payments under capital lease obligations																																																																																		-49,000	-55,000	-52,000	-81,000	-116,000	-145,000	-141,000	-153,000
common shares contributed to 401(k) and management incentive plans																																																																											0	0	1,321,000
proceeds from issuance (principal payments of) long-term debt																																																																											0
amortization of discount, premium and issuance costs of convertible debt																																																																												63,000	394,000		257,000	261,000	232,000
amortization of premium on short-term investments																																																																												-1,000	-3,000		-6,000	19,000	16,000
receivables and related party receivables																																																																												-3,053,000	4,242,000	-6,865,000	-846,000	419,000	-815,000	-785,000	275,000	-3,156,000	-649,000	-491,000	-307,000	54,000	10,521,000
deposits
proceeds from short-term loan																																																																																						0	0
principal payments of convertible notes																																																																																						0	0
gain on sale of investments																																																																																			-15,000	0	-271,000
proceeds from sale of investments																																																																																	8,360,000
increase in notes to a collaborative partner for cost allocations
amortization of debt issuance costs																																																																																		123,000	123,000	125,000	80,000
inventory
deposits and other																																																																																		-25,000	-1,000	0	-297,000				-1,000
proceeds from sale of short-term investments																																																																																				0	502,000
purchase of short-term investments																																																																																		6,017,000
proceeds from issuance of long-term notes																																																																																		3,529,000	0
amortization of premiums and discounts
gain on extinguishment of long-term debt																																																																																			0	0	-40,935,000
loss on disposal of property and equipment																																																																																			8,000	1,000	1,000
proceeds from sales or maturities of short-term investments
net proceeds from issuance of convertible notes																																																																																			-4,000
prepaid expenses and other																																																																																							-189,000	-14,000	135,000
transfer from restricted cash
loss on disposal/retirement of property and equipment and investments																																																																																								1,000	2,000
purchase of property and equipment, net of sale proceeds																																																																																									-729,000
payments – current notes																																																																																									-3,014,000
principal payments – short-term loan
adjustment to reconcile net loss to net cash from operating activities:
increase in convertible notes to genentech for cost allocations
accrued interest on convertible notes
common shares received from a vendor
change in assets and liabilities:
receivables and related party and other receivables
deposit and other assets
purchase of marketable securities
gain on investments
proceeds from sale and leaseback transactions
principal payments—short-term loan
proceeds from issuance of common or convertible shares and warrants
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year

XOMA Corporation(NASDAQ:XOMA)

XOMA Corporation
(NASDAQ:XOMA)