Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v2.4.0.6
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2012
Fair Value Measurements [Abstract]  
Summary of investments classified as available for sale and carried at fair value
                                         

(In thousands)

  Amortized
cost
    Gross
unrealized
gains in
Accumulated
OCI
    Gross
unrealized
losses in
Accumulated
OCI
    Gain/(Loss)
in
Accumulated
Deficit
    Fair
Value
 

Common stock investments

  $ 1,731     $ 5,407     $ —       $ —       $ 7,138  

BZNE Note and conversion feature

    1,700       53       —         287       2,040  

Neovasc common stock options

    925       249       —         119       1,293  

Neovasc common stock warrants

    659       194       —         (375     478  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total assets

  $ 5,015     $ 5,903     $ —       $ 31     $ 10,949  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Financial assets and liabilities measured at fair value on a recurring basis
                                 
    Fair value measurements as of September 30, 2012  

(In thousands)

  Quote prices
in active
markets for
identical

assets
(Level 1)
    Significant
other

observable
inputs

(Level 2)
    Significant
unobservable
inputs

(Level 3)
    Total  

Assets:

                               

Money market funds

  $ 14,505     $ —       $ —       $ 14,505  

US Treasury securities

    14,997       —         —         14,997  

Certificates of deposit

    —         10,423       —         10,423  

Forward contracts

    —         59       —         59  

Common stock investments

    7,138       —         —         7,138  

BZNE Note and conversion feature

    —         —         2,040       2,040  

Neovasc common stock options

    —         1,293       —         1,293  

Neovasc common stock warrants

    —         478       —         478  
   

 

 

   

 

 

   

 

 

   

 

 

 

Total assets

  $ 36,640     $ 12,253     $ 2,040     $ 50,933  
   

 

 

   

 

 

   

 

 

   

 

 

 

Liabilities:

                               

Deferred acquisition payments, net of discount

  $ —       $ —       $ 9,752     $ 9,752  

CURNA contingent consideration

    —         —         510       510  

OPKO Diagnostics contingent consideration

    —         —         15,098       15,098  

FineTech contingent consideration

    —         —         5,042       5,042  

Farmadiet contingent consideration

    —         —         1,251       1,251  
   

 

 

   

 

 

   

 

 

   

 

 

 

Total liabilities

  $ —       $ —       $ 31,653     $ 31,653  
   

 

 

   

 

 

   

 

 

   

 

 

 
Reconciles the beginning and ending balances of Level 3 assets and liabilities
                         

(In thousands)

  BZNE
Note and
conversion
feature
    Contingent
consideration
    Deferred
acquisition
payments,
net of discount
 

Balance at December 31, 2011

  $ —       $ 18,002     $ —    

Additions

    1,700       1,234       9,673  

Change in fair value included in:

                       

Operating expenses

    —         2,665       —    

Other income and (expense), net

    1,563       —         79  

Other comprehensive loss

   
53
 
    —         —    

Transfer out to equity method investment

    (1,276     —         —    
   

 

 

   

 

 

   

 

 

 

Balance at September 30, 2012

  $ 2,040     $ 21,901     $ 9,752