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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities    
Net loss $ (294,912) $ (402,850)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 43,303 34,161
Loss on conversion of debt   39,487
Loss from remeasurement of development derivative liability   38,264
Forfeiture of accrued interest in exchange of convertible notes   1,668
Amortization of right-of-use assets (61) 118
Depreciation expense 763 724
Amortization of discounts for convertible notes, net of financing costs 290 679
Accretion of discount to development liability 13,336  
Other liabilities 1,571  
Changes in operating assets and liabilities:    
Accounts receivable 2,584 (719)
Inventory (32,134) (3,731)
Prepaid assets 3,390 (7,473)
Other current assets 42,225 (4,311)
Other assets 15,757 2,758
Accounts payable 2,591 (3,296)
Accrued expenses (17,287) 22,519
Net cash used in operating activities (218,584) (282,002)
Investing Activities    
Purchase of property and equipment (477) (732)
Purchase of available-for-sale securities (331,863) (171,281)
Proceeds from maturity of available-for-sale securities 143,320 155,000
Net cash used in investing activities (189,020) (17,013)
Financing Activities    
Proceeds from issuance of common stock, net of issuance costs 380,120  
Payments for development derivative liability   (4,000)
Payments for development liability (16,500)  
Proceeds from exercise of stock options 8,770 9,650
Proceeds from issuance of common stock under employee share purchase plan 2,531 1,698
Payments of employee tax withholding related to equity-based compensation (2,952) (1,190)
Net cash provided by financing activities 371,969 6,158
Effect of exchange rate changes on cash, cash equivalents and restricted cash (365) (1,852)
Net decrease in cash, cash equivalents and restricted cash (36,000) (294,709)
Cash, cash equivalents and restricted cash at beginning of period 641,755 567,045
Cash, cash equivalents and restricted cash at end of period 605,755 272,336
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:    
Cash and cash equivalents 604,489 270,764
Restricted cash 1,266 1,572
Total cash, cash equivalents, and restricted cash 605,755 272,336
Supplemental Disclosure of Financing Activities    
Cash paid for interest 3,360 6,893
Cash paid for income taxes $ 156  
Convertible Notes exchanged for common stock   $ 126,129