XML 19 R7.htm IDEA: XBRL DOCUMENT v3.22.4
Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities    
Net loss $ (233,659) $ (269,108)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 500 612
Amortization of premiums and discounts on investments 279 12
Amortization of discount and issuance costs on convertible notes 1,621 1,621
Gain on extinguishment of convertible debt 0 (2,646)
Non-cash interest expense related to the revenue interest liability 44,590 33,907
Stock-based compensation expense 15,215 24,306
Changes in assets and liabilities:    
Accounts receivable (10,795) (10,546)
Prepaids and other assets 1,419 99
Deferred revenue (2,810) 4,655
Inventories (807) (18,258)
Accounts payable 5,603 (34,099)
Other accrued liabilities 4,017 6,926
Other long-term liabilities 0 (1,290)
Net cash used in operating activities (174,827) (263,809)
Investing activities    
Purchases of investments (59,897) (50,484)
Proceeds from sales/maturities of investments 68,001 0
Net cash provided by (used in) investing activities 8,104 (50,484)
Financing activities    
Proceeds from revenue interest liability, net of issuance costs 0 49,917
Proceeds from issuance of common stock and warrants from offering, net of issuance costs 0 208,975
Proceeds from issuance of common stock from ATM Program, net of issuance costs 90,849 9,713
Proceeds from exercise of common stock options 0 3,762
Payment for debt issuance costs on convertible notes 0 (440)
Payments on revenue interest liability (8,024) (3,389)
Repayment of principal on revenue interest liability (50,000) 0
Payment for other issuance costs (219) (315)
Net cash provided by financing activities 32,606 268,223
Net decrease in cash, cash equivalents and restricted cash (134,117) (46,070)
Cash, cash equivalents and restricted cash at beginning of period 258,892 304,962
Cash, cash equivalents and restricted cash at end of period 124,775 258,892
Supplemental disclosure of cash flow information:    
Issuance costs not yet paid 1 269
Non cash right of use asset $ 5 $ (7)