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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:      
Net loss $ (255,134) $ (288,989) $ (273,551)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Share-based compensation 53,676 40,251 18,696
Depreciation and amortization [1] 2,479 1,765 438
Non-cash interest expense [2] 635 1,486 2,084
Loss on extinguishment of debt 0 4,851 0
Foreign currency transaction (gain) loss (16,176) (1,621) 309
Other 537 (359) 926
Changes in operating assets and liabilities:      
Accounts receivable (3,570) 0 0
Inventory (2,611) 0 0
Prepaid expenses and other current assets (5,267) 1,925 (5,055)
Income tax receivable 0 524 476
Other assets (1,441) (10) 76
Accounts payable 2,457 4,315 6,441
Interest payable 0 (1,077) 795
Accrued expenses and other current liabilities 15,552 (24,675) 21,510
Deferred revenue 457,933 40,000 0
Amount due to collaboration partner 1,954 0 0
Cost share advance from collaboration partner 121,227 0 0
Operating lease liabilities (1,516) (882) 0
Deferred rent 0 0 749
Deferred interest payable 0 (2,273) 2,018
Amounts due to related parties 528 15 0
Other liabilities (635) 3,582 0
Net cash provided by (used in) operating activities 370,628 (221,172) (224,088)
Cash flows from investing activities:      
Purchases of marketable securities (63,824) (32,076) 0
Maturities of marketable securities 33,261 29,240 0
Sales of marketable securities 23,125 0 0
Purchases of property and equipment (1,773) (1,099) (1,236)
Net cash used in investing activities (9,211) (3,935) (1,236)
Cash flows from financing activities:      
Cash proceeds from issuance of common shares 0 137,004 218,925
Proceeds from related party debt financing 245,000 113,700 0
Proceeds from stock option exercises 6,709 942 1,300
Proceeds from third-party debt financing, net of financing costs paid 0 0 53,974
Payment of tax withholding on net settlement of share awards (13,664) 0 0
Payment of third-party debt financings and redemption and administration fees 0 (105,720) (300)
Net cash provided by financing activities 238,045 145,926 273,899
Net change in cash, cash equivalents and restricted cash 599,462 (79,181) 48,575
Cash, cash equivalents and restricted cash, beginning of period 78,018 157,199 108,624
Cash, cash equivalents and restricted cash, end of period 677,480 78,018 157,199
Non-cash financing activities:      
Reclassification of share-based compensation awards from additional paid-in capital to current liabilities 17,473 0 0
Change in fair value of share-based awards recorded to additional paid-in capital 10,609 0 0
Reclassification of share-based compensation liabilities to additional paid-in capital upon settlement of awards 6,446 0 0
Equipment purchases included in accounts payable 18 0 0
Supplemental disclosure of cash paid:      
Income taxes 513 38 0
Interest 0 13,030 3,923
Interest (related party) $ 9,819 $ 1,426 $ 0
[1] Includes amortization of operating lease right-of-use assets.
[2] Includes imputed interest on cost share advance from collaboration partner for the year ended March 31, 2021 and amortization of debt discount and issuance costs for the years ended March 31, 2020 and 2019.