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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net (loss) income $ (70,175,000) $ 34,236,000
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation and amortization 7,946,000 1,055,000
Provision for credit losses 730,000 0
Amortization on right-of-use asset 392,000 458,000
Stock-based compensation 7,776,000 7,031,000
Loss (gain), net on disposal of property, plant, and equipment 16,000 0
Loss on reserves 639,000 0
Impairment of assets 15,170,000 0
Realized loss (gain) on marketable securities 359,000 (1,706,000)
Amortization of premium and discount of marketable securities, net (172,000) 3,701,000
Change in fair value of derivative (237,000) (620,000)
Change in fair value of common stock warrants liability 2,913,000 (27,438,000)
Change in fair value of earnout liability 2,401,000 (39,137,000)
Deferred tax benefit 375,000 0
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (4,256,000) (8,130,000)
Inventory (78,000) (821,000)
Prepaid expenses and other current assets 962,000 (2,703,000)
Other long-term assets (4,873,000) (17,954,000)
Accounts payable (124,000) 2,819,000
Accrued expenses (3,082,000) 1,707,000
Operating lease liability (298,000) (529,000)
Deferred income 0 1,374,000
Other liabilities, current (1,507,000) 2,846,000
Other liabilities, long-term 0 (2,636,000)
Net cash used in operating activities (45,123,000) (46,447,000)
Cash flows from investing activities    
Purchases of property, plant, and equipment (5,117,000) (90,113,000)
Purchases of marketable securities (1,518,398,000) (3,092,218,000)
Sales of marketable securities 1,456,532,000 3,057,700,000
Maturities of marketable securities 86,441,000 129,081,000
Net cash provided by investing activities 19,458,000 4,450,000
Cash flows from financing activities    
Payment of notes payable (4,793,000) 0
Proceeds from Canadian Government Research and Development Program 8,097,000 0
Proceeds from exercise of stock options 245,000 145,000
Net cash provided by financing activities 3,549,000 145,000
Effects of foreign exchange rate changes on the balance of cash and cash equivalents, and restricted cash held in foreign currencies 3,010,000 (390,000)
Net decrease in cash and cash equivalents, and restricted cash (19,106,000) (42,242,000)
Cash and cash equivalents, and restricted cash, beginning of the period 75,502,000 108,348,000
Cash and cash equivalents, and restricted cash, end of the period 56,396,000 66,106,000
Supplemental disclosure of cash flow information    
Operating lease right-of-use assets obtained in exchange for lease obligations 0 2,302,000
Stock-based compensation capitalized into property, plant, and equipment 0 2,048,000
Purchases of fixed assets included in accounts payable and accrued expenses 66,000 6,182,000
Cash paid during the period:    
Income taxes payment 23,000 129,000
Interest payment $ 1,708,000 $ 0