XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (76,723) $ (50,139)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation expense 10,800 9,920
Depreciation and amortization 2,591 1,929
Provision for credit losses 0 565
Net amortization of premiums on marketable debt securities 1,460 1,288
Net gains on investments   (7)
Imputed interest income from licensing (94) (29)
Non-cash interest expense 54 3,786
Other non-cash adjustments (43) (154)
Changes in operating assets and liabilities    
Accounts receivable 5,689 1,618
Prepaid expenses 210 (3,334)
Other current assets 3,042 (873)
Operating lease right-of-use assets 979 1,232
Other assets (2,101) (3,789)
Accounts payable 16,755 278
Accrued expenses and other current liabilities (26,473) (10,544)
Operating lease liabilities 1,008 4,244
Other liabilities 6,935 (38)
Net cash used in operating activities (55,911) (44,047)
Cash flows from investing activities    
Purchases of marketable debt securities (129,486) (233,627)
Maturities of marketable debt securities 49,862 50,465
Purchases of property and equipment (10,967) (31,021)
Net cash used in investing activities (90,591) (214,183)
Cash flows from financing activities    
Proceeds from exercise of stock options 337 1,292
Taxes paid related to net settlement of stock-based awards (284)  
Proceeds from issuance of common stock under employee stock purchase plan 622 627
Proceeds from public offering of common stock, net of underwriting discounts and commissions   216,438
Issuance costs for public offering of common stock   (251)
Repayments under liability related to sale of future royalties, net of imputed interest (7,509) (6,555)
Transaction costs for sale of future royalties   (265)
Net cash provided by (used in) financing activities (6,834) 211,286
Net decrease in cash and cash equivalents and restricted cash (153,336) (46,944)
Cash and cash equivalents and restricted cash    
Beginning of period 347,239 339,756
End of period $ 193,903 $ 292,812