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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows used in operating activities:    
Net loss $ (37,698) $ (73,145)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 1,243 1,374
Amortization of right-of-use assets 193 304
Net amortization of premiums and discounts on short-term investments (5,599) 351
Share-based compensation expense 21,735 17,078
Other, net (3,235) 2,160
Net changes in operating assets and liabilities    
Accounts receivable, net (6,016) (2,758)
Inventories, net (8,403) (7,953)
Prepaid expenses and other current assets 2,374 (4,914)
Non-current assets (16) (517)
Accounts payable, accrued and other liabilities 1,245 (6,242)
Operating lease liabilities (319) (355)
Net cash used in operating activities (34,496) (74,617)
Cash flows used in investing activities:    
Purchase of investments (256,439) (232,955)
Proceeds from investments 288,291 225,677
Upfront lease payment (11,864) 0
Purchase of long-lived assets (524) (118)
Capitalized patent costs (212) 0
Net cash provided by (used in) investing activities 19,252 (7,396)
Cash flows from financing activities    
Proceeds from exercise of stock options and employee share purchase plan 2,779 1,745
Cash provided by financing activities 2,779 1,745
Net decrease in cash, cash equivalents and restricted cash (12,465) (80,268)
Cash, cash equivalents and restricted cash, beginning of period 94,172 231,900
Cash, cash equivalents and restricted cash, end of period 81,707 151,632
Supplemental cash flow information    
Cash received for interest 2,713 528
Cash paid for income taxes (277) (779)
Cash paid for amounts included in the measurement of lease liabilities (531) (572)
Finance right-of-use asset obtained in exchange for lease obligations (monoplant) 117,622 0
Finance lease liability arising from obtaining right-of-use assets (monoplant) 94,120 0
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets    
Cash, cash equivalents 81,389 151,408
Restricted cash 318 224
Total cash, cash equivalents and restricted cash $ 81,707 $ 151,632