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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net loss $ (11,664) $ (22,088)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 432 625
Amortization and accretion income, net (354) (678)
Future royalty payment contingency interest accretion 629 550
Share-based compensation 5,229 7,021
(Gain) loss on disposal of property and equipment   29
Amortization of right-of-use assets 1,101 1,031
Deferred income taxes (513)  
Changes in operating assets and liabilities:    
Receivables from collaborative and licensing arrangements 2,810 4,515
Prepaid clinical and development services (48) (13)
Other prepaid and current assets 4,034 1,401
Right-of-use lease assets (178) (109)
Other assets 148 1,270
Accounts payable 184 1,002
Accrued personnel-related expenses, accrued clinical and development expenses, and other accrued liabilities (3,396) (4,337)
Deferred revenue   (6)
Operating lease liabilities (1,256) (966)
Unrecognized tax benefits 1,781  
Other long-term liabilities 39 (468)
Net cash used in operating activities (1,022) (11,221)
Investing activities    
Purchases of property and equipment (91) (938)
Purchases of marketable securities (26,902) (134,533)
Maturities of marketable securities 44,021 29,500
Sale of short-term investments and marketable securities   62,715
Proceeds from the sale of property and equipment   210
Net cash provided by (used in) investing activities 17,028 (43,046)
Financing activities    
Ordinary share repurchases (445) (55,353)
Repurchase of shares to satisfy tax withholding (1,271) (887)
Net cash used in financing activities (1,716) (56,240)
Net increase (decrease) in cash, cash equivalents, and restricted cash 14,290 (110,507)
Cash, cash equivalents, and restricted cash at beginning of period 40,381 299,008
Cash, cash equivalents, and restricted cash at end of period 54,671 188,501
Supplemental disclosure of cash flow information    
Cash paid for income taxes, net $ (9) 7
Supplemental disclosure of non-cash activities    
Recognition of tenant improvement allowance assigned to sublease   $ 6,490