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Condensed Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net income (loss) $ (203,989) $ (39,075)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 459 387
Accretion of premiums and discounts on investments 0 (97)
Amortization of debt issuance costs 1,214 0
Non-cash interest expense related to the revenue interest liability 23,310 13,739
Stock-based compensation expense 19,832 21,712
Changes in assets and liabilities:    
Accounts receivable (9,322) (5,787)
Prepaids and other assets 1,096 (2,202)
Deferred revenue 2,251 (490)
Inventories (17,836) (9,061)
Other long-term liabilities 0 1,710
Accounts payable (30,833) (11,326)
Other accrued liabilities 7,715 13,863
Net cash used in operating activities (206,103) (16,627)
Investing activities    
Purchases of investments 0 (4,420)
Proceeds from sales/maturities of investments 0 39,145
Purchase of property and equipment 0 (693)
Net cash provided by investing activities 0 34,032
Financing activities    
Proceeds from revenue interest liability, net of issuance costs 49,917 25,000
Proceeds from issuance of common stock, net of issuance costs 4,388 0
Proceeds from exercise of common stock options 3,211 6,395
Payments on revenue interest liability (2,263) (110)
Payment of debt issuance costs (440) 0
Net cash provided by financing activities 54,813 31,285
Net (decrease) increase in cash and cash equivalents (151,290) 48,690
Cash, cash equivalents and restricted cash at beginning of period 304,962 167,058
Cash, cash equivalents and restricted cash at end of period 153,672 215,748
Supplemental disclosure of cash flow information:    
Common stock issuance costs not yet paid 181 0
Purchase of property and equipment not yet paid 0 148
Non cash right of use asset $ 10 $ 3