Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Market Information
Our common stock is listed for quotation on the Nasdaq Global Market under the trading symbol “TVTX” and is part of the Nasdaq Biotechnology Index (Nasdaq: NBI). Prior to our name change in November 2020, we traded under the symbol "RTRX."
As of February 24, 2021, the last reported sale price of our Common Stock as reported by the Nasdaq was $29.95.
As of February 24, 2021, we had approximately 178 holders of record of our common stock.
Performance Graph
The following is not deemed “filed” with the Securities and Exchange Commission and is not to be incorporated by reference into any filing we make under the Securities Act of 1933, as amended, whether made before or after the date hereof and irrespective of any general incorporation by reference language in such filing.
Our common stock is traded on the Nasdaq Global Market and is a component of both the Nasdaq Composite Index and the Nasdaq Biotechnology Index. The total return for our common stock and for each index assumes the reinvestment of dividends, although dividends have never been declared on our common stock, and is based on the returns of the component companies weighted according to their capitalizations as of the end of each monthly period. The Nasdaq-Composite tracks the aggregate price performance of equity securities of companies traded on the Nasdaq National Market. The Nasdaq Biotechnology Index contains securities and tracks the aggregate price performance of equity securities of Nasdaq-listed companies classified according to the Industry Classification Benchmark as either Biotechnology or Pharmaceuticals which also meet other eligibility criteria. The comparisons shown in the graph are based upon historical data and we caution that the stock price performance shown in the graph is not indicative of, nor intended to forecast, the potential future performance of our stock.
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Dividends
Since inception we have not paid any dividends on our common stock. We currently do not anticipate paying any cash dividends in the foreseeable future on our common stock. Although we intend to retain our earnings, if any, to finance the exploration and growth of our business, our Board of Directors will have the discretion to declare and pay dividends in the future. Payment of dividends in the future will depend upon our earnings, capital requirements and other factors which our Board of Directors may deem relevant.
ITEM 6. SELECTED FINANCIAL DATA
The following table presents selected historical financial data of the Company for the periods indicated. The selected historical financial information is derived from the audited Consolidated Financial Statements of the Company referred to under Item 8 of this Annual Report on Form 10-K, and previously published historical financial statements. The following selected financial data should be read in conjunction with Item 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations, and the Company’s Consolidated Financial Statements, including the notes thereto, included elsewhere herein.
Selected historical financial data ( in thousands, except share and per share amounts ):
For the year ended December 31,
Consolidated Statement of Operations: 2020 2019 2018 2017 2016
Net product sales $ 198,321 $ 175,338 $ 164,246 $ 154,937 $ 133,591
Total operating expenses 374,484 312,699 244,286 208,728 191,805
Operating loss (176,163) (137,361) (80,040) (53,791) (58,214)
Total other income (expenses), net (12,627) (9,087) (21,827) (4,572) 632
Income (Loss) before benefit (provision) for income taxes (188,790) (146,448) (101,867) (58,363) (57,582)
Income tax benefit (provision) 19,359 21 (811) (1,368) 9,679
Net income (loss) $ (169,431) $ (146,427) $ (102,678) $ (59,731) $ (47,903)
Per Share Data:
Net Income (loss) per common share, basic $ (3.56) $ (3.46) $ (2.54) $ (1.54) $ (1.29)
Net Income (loss) per common share, diluted $ (3.56) $ (3.46) $ (2.54) $ (1.54) $ (1.29)
Weighted average common shares outstanding, basic 47,539,631 42,339,961 40,433,171 38,769,816 36,997,865
Weighted average common shares outstanding, diluted 47,539,631 42,339,961 40,433,171 38,769,816 38,288,012
As of December 31,
Balance Sheet data: 2020 2019 2018 2017 2016
Cash, cash equivalents and marketable securities $ 361,589 $ 398,524 $ 471,541 $ 300,630 $ 255,873
Working capital 317,747 333,615 391,057 240,139 249,090
Total assets 607,439 604,800 709,160 520,346 525,282
Long-term debt 215,339 204,861 195,091 45,077 44,422
Total stockholders’ equity $ 211,213 $ 221,196 $ 318,253 $ 293,134 $ 307,767
Note: Cash dividends were not paid during the above periods.