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Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities    
Net loss $ (67,222) $ (64,357)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 13,158 11,068
Amortization of premium and accretion of discounts on marketable securities, net 1,894 1,987
Depreciation expense 360 232
Non-cash interest expense   399
Loss on extinguishment of debt   212
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (5,199) (2,166)
Other long-term assets (5) (1,178)
Accounts payable and accrued expenses (5,592) (2,688)
Other long-term liabilities 84 (100)
Net cash used in operating activities (62,522) (56,591)
Investing Activities    
Maturities of marketable securities 115,947 129,969
Purchases of marketable securities (107,579) (353,088)
Purchases of property and equipment (233) (322)
Net cash provided by (used in) investing activities 8,135 (223,441)
Financing Activities    
Proceeds from issuance of stock under equity plans 2,972 1,374
Repayment of long-term debt   (7,250)
Payment of fees related to extinguishment of debt   (611)
Net cash provided by (used in) financing activities 2,972 (6,487)
Net decrease in cash, cash equivalents and restricted cash (51,415) (286,519)
Cash, cash equivalents and restricted cash at beginning of period 90,882 325,703
Cash, cash equivalents and restricted cash at end of period $ 39,467 $ 39,184