v3.22.2.2
Business Combination (Tables)
 9 Months Ended
Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of Business Acquisitions, by Acquisition
The total purchase consideration was comprised of the following (in thousands):

Cash consideration for Antares shares outstanding as of May 24, 2022$956,886 
Consideration for Antares equity compensation awards (a)
45,828 
Consideration for seller transaction costs paid by Halozyme22,906 
Consideration related to Antares closing indebtedness settled by Halozyme19,683 
Cash consideration related to cash bonus awards paid by Halozyme
365 
Total purchase consideration
$1,045,668 
(a) Consideration for Antares equity compensation awards consists of $32.2 million paid for vested equity awards as well as $13.6 million paid for the pre-combination portion of unvested equity awards that were accelerated as part of the Merger Agreement. The fair value of the unvested equity awards attributable to the post-combination period of $8.7 million is included in our condensed consolidated statements of income in Q2 2022 and the nine months ended September 30, 2022.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed These preliminary estimates may be revised during the measurement period as third-party valuations are finalized, additional information becomes available, and as additional analyses are performed. These differences could change the value of the intangible assets acquired, the contingent liability assumed, and the tax impacts related to the acquisition and could have a material impact on our results of operations and financial position.
Amount (in thousands)
Total purchase consideration, net of $46,548 cash acquired
$999,120 
Assets:
Short-term investments498 
Accounts receivable, net82,160 
Inventories, net34,379 
Prepaid expenses and other assets5,241 
Property and equipment, net28,661 
Intangibles, net987,500 
Liabilities:
Accounts Payable7,197 
Accrued expenses33,705 
Deferred revenue, current portion2,509 
Deferred revenue, net of current portion1,207 
Deferred tax liabilities, net159,094 
Other long-term liabilities135,088 
Net assets acquired, excluding goodwill$799,639 
Goodwill199,481 
Schedule of Acquired Finite-Lived Intangible Assets by Major Class preliminary values are presented in the table below.
Amount (in thousands)Useful life (years)
Auto Injector technology platform$372,900 7
XYOSTED proprietary product277,400 10
TLANDO product rights277,600 10
ATRS-1902 (IPR&D)59,600 Indefinite
Estimated fair value of intangible assets acquired987,500 
Schedule of Acquired Indefinite-lived Intangible Assets by Major Class preliminary values are presented in the table below.
Amount (in thousands)Useful life (years)
Auto Injector technology platform$372,900 7
XYOSTED proprietary product277,400 10
TLANDO product rights277,600 10
ATRS-1902 (IPR&D)59,600 Indefinite
Estimated fair value of intangible assets acquired987,500 
Business Acquisition, Pro Forma Information
The following unaudited pro forma financial information summarizes combined results of operations of Halozyme and Antares as if the companies had been combined as of the beginning of our fiscal year 2021.
Three Months Ended
 September 30,		Nine Months Ended
September 30,
2022202120222021
Total Revenues$208,976 $164,021 $531,189 $476,559 
Net income (loss)$66,771 $198,280 $163,795 $221,426