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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net income (loss) $ (22,088) $ (25,946)
Less: Net income from discontinued operations   14,313
Net loss from continuing operations (22,088) (40,259)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 625 980
Amortization and accretion income, net (678) 2
Ampreloxetine interest accretion 550  
Share-based compensation 7,021 14,545
Undistributed earnings from TRC, LLC   7
(Gain) loss on disposal of property and equipment 29 (218)
Interest payable on 2023 notes   1,869
Amortization of right-of-use assets 1,031 341
Changes in operating assets and liabilities:    
Receivables from collaborative and licensing arrangements 4,515 1,788
Prepaid clinical and development services (13) 5,503
Other prepaid and current assets 1,401 2,436
Right-of-use lease assets (109)  
Other assets 1,270 1
Accounts payable 1,002 (1,619)
Accrued personnel-related expenses, accrued clinical and development expenses, and other accrued liabilities (4,337) (10,344)
Deferred revenue (6) (9)
Operating lease liabilities (966) (1,715)
Other long-term liabilities (468) 8
Net cash used in operating activities - continuing operations (11,221) (26,684)
Net cash (used in) provided by operating activities - discontinued operations   615
Net cash used in operating activities (11,221) (26,069)
Investing activities    
Purchases of property and equipment (938) (250)
Purchases of marketable securities (134,533) (18,174)
Maturities of marketable securities 29,500 48,499
Sale of short-term investments and marketable securities 62,715  
Proceeds from the sale of property and equipment 210 1,849
Net cash provided by investing activities - continuing operations (43,046) 31,924
Net cash provided by investing activities (43,046) 31,924
Financing activities    
Ordinary share repurchases (55,353)  
Repurchase of shares to satisfy tax withholding (887) (1,448)
Net cash (used in) provided by financing activities - continuing operations (56,240) (1,448)
Net cash (used in) provided by financing activities (56,240) (1,448)
Net increase in cash, cash equivalents, and restricted cash (110,507) 4,407
Cash, cash equivalents, and restricted cash at beginning of period 299,008 90,796
Cash, cash equivalents, and restricted cash at end of period 188,501 95,203
Supplemental disclosure of cash flow information    
Cash paid for interest   $ 4,613
Cash paid (received) for income taxes, net 7  
Supplemental disclosure of non-cash investing and financing activities    
Recognition of tenant improvement allowance assigned to sublease $ 6,490