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STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Net loss $ (67,207) $ (158,165) $ (94,313)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization expense 1,144 2,807 2,541
Non-cash lease expense 3,457 3,085 2,147
Stock-based compensation 10,750 12,039 10,583
Change in derivative liabilities 583 (678) 407
Debt refinancing costs 102 0 0
Gain on sale of equipment (1,260) 0 0
Non-cash interest expense 1,962 283 413
Changes in operating assets and liabilities:      
Unbilled revenue 0 0 750
Accounts receivable (7,231) (502) 0
Inventory (28,346) 0 0
Prepaid commercial manufacturing (4,161) (9,406) 0
Prepaid expenses and other assets 2,299 502 (4,653)
Accounts payable 6,582 (1,349) 3,439
Accrued compensation and benefits 2,126 (250) 1,219
Operating lease liabilities (3,491) (2,853) (2,604)
Accrued and other liabilities 4,138 1,386 (1,000)
Deferred revenue 8,509 550 (364)
Net cash used in operating activities (70,044) (152,551) (81,435)
Investing activities      
Proceeds from maturities and redemptions of investments 67,000 125,550 119,734
Purchases of investments (50,328) (72,735) (150,852)
Proceeds from sale of property and equipment 1,798 0 0
Purchases of property and equipment (55) (1,867) (324)
Net cash provided by (used in) investing activities 18,415 50,948 (31,442)
Financing activities      
Proceeds from 2022 Loan, net of issuance costs 26,971 0 0
Payments for 2018 Loan, net of costs (33,038) (19,444) (125)
Proceeds from the sale of future royalties, net of issuance costs 9,581 0 0
Proceeds from issuance of common stock in at the market offering, net of issuance costs 71,625 101,146 21,047
Proceeds from issuance of common stock under equity incentive and stock purchase plans 202 1,403 1,854
Payments for taxes related to net share settlement of equity awards 0 (106) 0
Net cash provided by financing activities 75,341 82,999 22,776
Net increase (decrease) in cash and cash equivalents 23,712 (18,604) (90,101)
Cash and cash equivalents at beginning of period 72,428 91,032 181,133
Cash and cash equivalents at end of period 96,140 72,428 91,032
Supplementary disclosure of cash flow information:      
Cash paid for interest 2,901 3,469 4,200
Cash paid for income taxes 6 4 1
Supplementary disclosure of non-cash activities:      
Right-of-use assets obtained in exchange for lease obligations 0 1,604 450
Issuance of common stock for services 390 190 310
Issuance of derivative in connection with issuance of loan payable $ 375 $ 0 $ 0