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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net loss $ (66,676) $ (76,723)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation expense 11,206 10,800
Depreciation and amortization 4,178 2,591
Net amortization of premiums on marketable debt securities 682 1,460
Imputed interest income from licensing (70) (94)
Non-cash interest expense (574) 54
Other non-cash adjustments (52) (43)
Changes in operating assets and liabilities    
Accounts receivable 9,495 5,689
Prepaid expenses (1,621) 210
Other current assets (13,651) 3,042
Operating lease right-of-use assets 1,390 979
Other assets (1,893) (2,101)
Accounts payable (3,103) 16,755
Accrued expenses and other current liabilities (15,443) (26,473)
Deferred revenue (433)  
Operating lease liabilities (1,504) 1,008
Other liabilities (2,849) 6,935
Net cash used in operating activities (80,918) (55,911)
Cash flows from investing activities    
Purchases of marketable debt securities   (129,486)
Maturities of marketable debt securities 67,912 49,862
Purchases of property and equipment (4,818) (10,967)
Net cash provided by (used in) investing activities 63,094 (90,591)
Cash flows from financing activities    
Proceeds from exercise of stock options 471 337
Taxes paid related to net settlement of stock-based awards (419) (284)
Proceeds from issuance of common stock under employee stock purchase plan 583 622
Repayments under liability related to sale of future royalties, net of imputed interest (9,672) (7,509)
Net cash used in financing activities (9,037) (6,834)
Net decrease in cash and cash equivalents and restricted cash (26,861) (153,336)
Cash and cash equivalents and restricted cash    
Beginning of period 98,982 347,239
End of period $ 72,121 $ 193,903