XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net loss $ (166,183) $ (65,009)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation expense 29,646 24,368
Depreciation and amortization 6,958 6,302
Provision for credit losses 5,532 7,678
Net amortization of premiums on marketable debt securities 4,377 586
Net losses (gains) on investments (5,189) 8,207
Imputed interest income from licensing (341) (2,033)
Non-cash interest expense 19,777  
Other non-cash adjustments (51) 263
Changes in operating assets and liabilities    
Accounts receivable (7,886) (89,442)
Prepaid expenses (7,896) (9,637)
Other current assets (3,307) (2,998)
Operating lease right-of-use assets 3,780 1,986
Other assets (4,402) 1,318
Accounts payable 6,503 9,907
Accrued expenses and other current liabilities 473 18,400
Operating lease liabilities 10,849 (2,222)
Other liabilities (2) (1,203)
Net cash used in operating activities (107,362) (93,529)
Cash flows from investing activities    
Purchases of marketable debt securities (262,671) (79,374)
Maturities of marketable debt securities 136,386 189,882
Sales of marketable debt securities   2,287
Sales of equity securities 5,563 12,374
Purchases of property and equipment (69,561) (13,980)
Net cash provided by (used in) investing activities (190,283) 111,189
Cash flows from financing activities    
Proceeds from exercise of stock options 3,296 4,247
Proceeds from issuance of common stock under employee stock purchase plan 1,768 1,799
Proceeds from public offering of common stock, net of underwriting discounts and commissions 216,438  
Issuance costs for public offering of common stock (379)  
Repayments under liability related to sale of future royalties (33,252)  
Transaction costs for sale of future royalties (265)  
Net cash provided by financing activities 187,606 6,046
Net increase (decrease) in cash and cash equivalents and restricted cash (110,039) 23,706
Cash and cash equivalents and restricted cash    
Beginning of period 339,756 70,844
End of period 229,717 94,550
Supplemental disclosures of non-cash investing and financing activities    
Net additions to property and equipment through accounts payable and accrued expenses 3,250 46
Non-cash additions to property and equipment through tenant improvement allowance   2,217
Non-cash consideration received for licenses granted   $ 1,123
Proceeds due to Company from sales of non-marketable equity securities $ 646