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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows used in operating activities    
Net loss $ (44,053) $ (72,119)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 134 171
Share-based compensation 10,439 8,105
Stock issued for services 22 24
Amortization of premiums and accretion of discounts on investment securities, net (1,737) (4,079)
Changes in operating assets and liabilities:    
Accounts receivable, net (6,356) (12,676)
Inventory (4,421) 55
Prepaid expenses and other assets (10,557) (8,927)
Accounts payable (1,954) 2,958
Accrued and other current liabilities 1,410 1,185
Accrued customer programs 4,271 4,924
Accrued employee benefits (6,340) (4,254)
Operating lease liabilities, net (924) 1,784
Net cash used in operating activities (60,066) (82,849)
Cash flows (used in) provided by investing activities    
Purchases of investments (108,457) (826,713)
Maturities of investments 91,995 505,244
Purchases of property and equipment 0 (566)
Net cash used in investing activities (16,462) (322,035)
Cash flows provided by financing activities    
Proceeds of public offering, net 0 433,725
Proceeds from exercise of stock options 3,640 8,089
Net cash provided by financing activities 3,640 441,814
Net (decrease) increase in cash, cash equivalents, and restricted cash (72,888) 36,930
Cash, cash equivalents, and restricted cash at beginning of period 150,365 93,765
Cash, cash equivalents, and restricted cash at end of period 77,477 130,695
Non-cash investing and financing activities    
Right of use assets under operating leases $ 0 $ 0