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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net loss $ (25,946) $ (79,679)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,141 1,539
Amortization and accretion income, net 2 11
Share-based compensation 14,545 15,832
Loss on disposal of property and equipment (218)  
Amortization of right-of-use assets 341 743
Undistributed earnings from TRC, LLC (18,596) 4,751
Interest shortfall on 2035 notes, net 4,712  
Other   46
Changes in operating assets and liabilities:    
Receivables from collaborative and licensing arrangements 1,788 3,953
Prepaid clinical and development services 5,503 1,582
Other prepaid and current assets 2,436 322
Other assets 1 65
Accounts payable (1,619) (1,073)
Accrued personnel-related expenses, accrued clinical and development expenses, and other accrued liabilities (10,344) (17,299)
Accrued interest payable 1,901 1,830
Deferred revenue (9) (3,871)
Operating lease liabilities (1,715) 1,159
Other long-term liabilities 8 224
Net cash used in operating activities (26,069) (69,865)
Investing activities    
Purchases of property and equipment (250) (1,767)
Purchases of marketable securities (18,174) (36)
Maturities of marketable securities 48,499 115,500
Proceeds from the sale of property and equipment 1,849  
Net cash provided by (used in) investing activities 31,924 113,697
Financing activities    
Principal payment on 2035 notes   (5,698)
Principal payment on 2033 notes   (5,698)
Proceeds from option exercises   3
Repurchase of shares to satisfy tax withholding (1,448) (5,593)
Net cash provided by financing activities (1,448) (11,288)
Net increase (decrease) in cash, cash equivalents, and restricted cash 4,407 32,544
Cash, cash equivalents, and restricted cash at beginning of period 90,796 82,300
Cash, cash equivalents, and restricted cash at end of period 95,203 114,844
Supplemental disclosure of cash flow information    
Cash paid for interest $ 4,613 $ 14,385