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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net loss $ (66,756) $ (90,461)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 11,449 22,429
Depreciation and amortization 373 326
Amortization of debt issuance costs 392 400
Net amortization of premiums and discounts on investments (2,141) (71)
Other 3 (4)
Changes in operating assets and liabilities:    
Accounts receivable, net 14,806 (982)
Inventory 552 636
Prepaid expenses and other assets 1,724 (14,860)
Operating lease right-of-use assets 942 808
Accounts payable (486) 91
Accrued expenses and other liabilities (4,081) (11,567)
Operating lease liabilities (1,385) (1,086)
Net cash used in operating activities (44,608) (94,341)
Investing activities    
Purchases of property and equipment 0 (79)
Proceeds from sales and maturities of investments 85,308 48,468
Purchases of investments (96,526) (99,020)
Net cash used in investing activities (11,218) (50,631)
Financing activities    
Proceeds from issuance of common stock, net of issuance costs 0 29,294
Proceeds from the exercise of stock options and shares issued under employee stock purchase plan 860 2,802
Net cash provided by financing activities 860 32,096
Effect of exchange rate on cash, cash equivalents and restricted cash (71) (544)
Net decrease in cash, cash equivalents and restricted cash (55,037) (113,420)
Cash, cash equivalents and restricted cash at beginning of period 136,885 197,445
Cash, cash equivalents and restricted cash at end of period 81,848 84,025
Reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets    
Cash and cash equivalents 80,894 82,248
Short-term restricted cash 567 1,146
Long-term restricted cash 387 631
Total cash, cash equivalents and restricted cash 81,848 84,025
Supplemental disclosures:    
Cash paid for interest on convertible debt 2,588 2,588
Cash paid for amounts included in the measurement of operating lease liabilities 1,847 1,682
Cash paid for interest on deferred royalty obligation $ 8,192 $ 20,746