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Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities    
Net loss $ (201,592) $ (197,723)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 575 620
Stock-based compensation 45,025 24,133
Issuance of PIK interest debt 3,583 3,484
Accrued interest on revenue interest financing liability 24,727 14,079
Amortization of debt discount 1,877 2,110
Other 1,869 1,329
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (8,067) (1,860)
Accounts receivable, net (1,637) 0
Accounts payable and accrued expenses (includes changes in related party amounts of $184 and $1,139, respectively) 6,410 8,679
Accrued clinical trial expenses 0 (1,402)
Accrued interest 292 377
Operating right-of-use assets and lease liabilities 194 (238)
Inventory (9,442) 0
Other long-term assets (1,394) (118)
Net cash used in operating activities (137,580) (146,530)
Cash flows from investing activities    
Cash paid for property, plant and equipment (1,634) (1,041)
Net cash used in investing activities (1,634) (1,041)
Cash flows from financing activities    
Proceeds from issuance of common stock from exercise of stock options 124 0
Net proceeds from issuance of debt 39,318 0
Net proceeds from underwritten public offering 141,390 0
Net proceeds from revenue interest financing transaction 172,675 95,446
Net cash provided by financing activities 367,580 120,042
Net increase (decrease) in cash and cash equivalents and restricted cash 228,366 (27,529)
Cash and cash equivalents and restricted cash - beginning of period 155,890 183,419
Cash and cash equivalents and restricted cash - end of period 384,256 155,890
Supplemental disclosure of cash flow information    
Interest paid 11,133 7,033
Supplemental disclosure of noncash investing and financing activities    
Property and equipment purchases included in accounts payable and accrued expenses 18 138
Final interest payment fee 2,200 0
Settlement of ESPP liability in common stock 1,417 909
Settlement of 401(k) liability in common stock 1,612 1,116
Operating lease liabilities arising from obtaining right-of-use assets   554
At-the-Market Offering Program    
Cash flows from financing activities    
Net proceeds from issuance of common stock $ 14,073 $ 24,596