XML 25 R8.htm IDEA: XBRL DOCUMENT v3.20.4
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net loss $ (173,771) $ (224,076)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Share-based compensation 21,746 34,178
Depreciation and amortization [1] 1,787 1,236
Non-cash interest expense (2) [2] 40 1,486
Loss on extinguishment of debt 0 4,851
Foreign currency transaction gain (16,178) (1,151)
Other 538 (23)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 89 (1,892)
Income tax receivable 0 524
Other assets (1,309) (272)
Accounts payable (2,977) (4,402)
Interest payable 0 (1,077)
Interest payable (related party) (15) 16
Accrued expenses 15,317 (8,521)
Change in deferred revenue 478,908 0
Cost share advance from collaboration partner 138,800 0
Operating lease liabilities (1,112) (547)
Deferred interest payable 0 (2,273)
Amounts due to related parties 628 0
Other liabilities 1,080 0
Net cash provided by (used in) operating activities 463,571 (201,943)
Cash flows from investing activities:    
Purchases of marketable securities (47,562) (32,076)
Maturities of marketable securities 18,235 16,440
Purchases of property and equipment (1,036) (824)
Net cash used in investing activities (30,363) (16,460)
Cash flows from financing activities:    
Proceeds from related party debt financing 200,000 113,700
Proceeds from stock option exercises 5,284 667
Payments on third party debt financings and redemption fees 0 (105,420)
Payment of annual debt administration fee to NovaQuest 0 (300)
Net cash provided by financing activities 205,284 145,651
Net change in cash, cash equivalents and restricted cash 638,492 (72,752)
Cash, cash equivalents and restricted cash, beginning of period 78,018 157,199
Cash, cash equivalents and restricted cash, end of period 716,510 84,447
Private Placement | Cowen and Company, LLC    
Cash flows from financing activities:    
Cash proceeds from issuance of common shares 0 2,546
Public Offering    
Cash flows from financing activities:    
Cash proceeds from issuance of common shares $ 0 $ 134,458
[1] Includes amortization of operating lease right-of-use assets.
[2] Includes imputed interest on cost share advance from collaboration partner for the nine months ended December 31, 2020 and amortization of debt discount and issuance costs for the nine months ended December 31, 2019.