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Condensed Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net loss $ (61,719) $ (56,731)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 81 153
Amortization of premiums and discounts on investments (339) 173
Amortization of debt issuance costs 417 398
Non-cash interest expense related to the revenue interest liability 11,320 11,015
Stock-based compensation expense 2,903 4,436
Changes in assets and liabilities:    
Accounts receivable (2,686) (2,182)
Prepaids and other assets (1,608) 764
Deferred revenue 8,650 (2,100)
Inventories (4,151) (1,260)
Accounts payable (5,975) 9,393
Other accrued liabilities (1,249) (3,049)
Net cash used in operating activities (54,356) (38,990)
Investing activities    
Purchases of investments 0 (18,102)
Proceeds from sales/maturities of investments 25,000 0
Net cash provided by (used in) investing activities 25,000 (18,102)
Financing activities    
Payments on revenue interest liability (3,106) (1,217)
Proceeds from issuance of common stock, net of issuance costs 52,598 0
Payment of issuance costs 0 (219)
Net cash provided by (used in) financing activities 49,492 (1,436)
Net increase (decrease) in cash and cash equivalents 20,136 (58,528)
Cash, cash equivalents and restricted cash at beginning of period 124,775 258,892
Cash, cash equivalents and restricted cash at end of period 144,911 200,364
Supplemental disclosure of cash flow information:    
Common stock issuance, warrant, and pre-funded warrant issuance costs not yet paid 170 0
Non cash right of use asset $ 1 $ 6