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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (24,607) $ (37,542)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization of property and equipment 538 634
Amortization of intangible assets 135 147
Foreign exchange gain (50,072) (7,611)
Stock-based compensation expense 11,996 7,959
Amortization of discount on investments 504 48
Deferred tax expense 176 270
Changes in operating assets and liabilities:    
Accounts receivable 2,014 (2,097)
Operating lease right-of-use assets and lease obligations 18 (11)
Prepaid expenses and other current assets 4,014 (1,852)
Accounts payable (6,068) 3,190
Accrued expenses and other liabilities 486 3,207
Deferred revenue (17,265) 28,704
Net cash provided by (used in) operating activities (78,131) (4,954)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of marketable securities (120,006) (24,850)
Proceeds from maturities of marketable securities 126,293 28,163
Purchases of property and equipment (3,200) (260)
Net cash provided by investing activities 3,087 3,053
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock, net 48,015 129,398
Proceeds from stock options exercised 1,063 6,728
Repurchase of restricted stock units 0 (285)
Net cash provided by financing activities 49,078 152,318
Foreign exchange impact on cash, cash equivalents and restricted cash (1,176) (2,027)
Net increase (decrease) in cash, cash equivalents and restricted cash (27,142) 148,390
Cash, cash equivalents, and restricted cash, beginning of period 241,749 163,283
Cash, cash equivalents, and restricted cash, end of period 214,607 311,673
SUPPLEMENTAL DISCLOSURES:    
Lease liabilities arising from obtaining right-of-use assets 11,493 1,662
Income taxes paid 0 491
Non-cash purchases of property, equipment and intangibles 616 22
Non-cash issuance of stock options 0 573
CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents 213,930 311,472
Restricted cash included in non-current other assets 677 201
Cash, cash equivalents, and restricted cash, end of period 214,607 311,673
Lilly    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock, net $ 0 $ 16,477