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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net loss $ (265,328) $ (172,937)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash share-based compensation expense 48,726 16,879
Interest expense on mandatorily redeemable preferred shares 7,943 5,561
Interest expense on liability related to sale of future royalties 13,508 8,425
Interest expense paid-in-kind on long-term debt 2,795 0
Issuance of common shares as payment for license and consulting agreements 4,243 0
Change in fair value of derivative liability 210 5,781
(Gain) loss from equity method investment (5,261) 1,380
Depreciation and amortization 5,054 235
Other non-cash items 461 241
Changes in operating assets and liabilities:    
Trade receivables, net (36,658) (4,337)
Inventories (17,566) (3,609)
Prepaid expenses and other current assets (24,808) (25,733)
Other assets (811) 20
Accounts payable 13,903 14,475
Accrued expenses and other current liabilities 60,666 2,860
Other long-term liabilities (12,751) 37
Net cash used in operating activities (205,674) (150,722)
Cash flows from investing activities:    
Sales and maturities of marketable securities 120,956 0
Purchases of property and equipment (1,187) (1,016)
Payments for leasehold improvements 0 (1,600)
Payments for intangible assets 0 (20,750)
Net cash provided by (used in) investing activities 119,769 (23,366)
Cash flows from financing activities:    
Proceeds from issuance of common shares 308,743 283,333
Proceeds from obligation to perform R&D services 100,000 0
Proceeds from the issuance of series B preferred shares 17,585 0
Proceeds from exercise of share options 1,382 2,607
Payment of term loan commitment fee (3,750) 0
Payment of principal for finance leases (1,250) 0
Payment of term loan (1,195) 0
Payments of issuance costs (500) (340)
Net cash provided by financing activities 421,015 285,600
Effect of exchange rate changes on cash, cash equivalents and restricted cash 14 0
Net increase in cash, cash equivalents and restricted cash 335,124 111,512
Cash, cash equivalents and restricted cash at beginning of period 134,231 317,727
Cash, cash equivalents and restricted cash at end of period $ 469,355 $ 429,239