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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 181,468 $ 34,597 $ (36,944)
Adjustments to reconcile net income to net cash used in operating activities:      
Depreciation 419 416 394
Intangible amortization 22,966 18,424 9,843
Acquired in-process research & development (IPR&D) expense     2,000
Stock-based and employee stock purchase compensation expense 26,173 15,659 4,693
Stock appreciation rights market adjustment 732 446 497
Warrant expense     3,109
Debt issuance costs amortization 1,663 2,238 2,412
Deferred taxes (85,943)    
Amortization of premiums and accretion of discounts on Investment securities (432)    
Loss on debt extinguishment   26,146 22,639
Other non-cash expenses 1,526    
Change in operating assets and liabilities:      
Trade receivables (19,897) (12,667) (17,922)
Inventory 135 (609) (2,735)
Prepaid expenses and other assets (7,548) (1,655) (5,774)
Trade payables 2,785 (1,555) (3,804)
Accrued expenses and other current liabilities 20,570 17,263 18,450
Other non-current liabilities (151) (146) 157
Net cash provided by operating activities 144,466 98,557 (2,985)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of investment securities (110,729)    
Proceeds from maturities and sales of investment securities 9,069    
Purchase of property and equipment (172) (298) (2)
Milestone payments (40,000) (100,000) (2,000)
Net cash used in investing activities (141,832) (100,298) (2,002)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock upon initial public offering     147,628
Initial public offering issuance costs     (12,193)
Proceeds from issuance of common stock   30,000  
Common stock issuance costs   (300)  
Proceeds from long term debt   200,000 200,000
Debt issuance costs   (9,152) (5,804)
Extinguishment of debt   (200,000) (102,538)
Extinguishment of debt exit fees   (22,000) (18,047)
Principal repayment of long term debt (2,000) (500)  
Proceeds from exercised options 8,841 9,371 299
Repurchase of common stock     (167)
Tax payments for employees shares withheld     (17)
Net cash provided by financing activities 6,841 7,419 209,161
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 9,475 5,678 204,174
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH-Beginning of period 235,059 229,381 25,207
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH-End of period 244,534 235,059 229,381
Supplemental Disclosure of Cash Flow Information:      
Cash paid during the year for interest 16,364 19,830 26,203
Cash paid during the year for taxes $ 12,645 $ 2,875  
Supplemental Disclosures of Noncash Investing and Financing Activities:      
Warrant financing     2,359
Warrant liability reclassified to equity     5,468
Series A Convertible Preferred Stock      
Supplemental Disclosures of Noncash Investing and Financing Activities:      
Preferred Stock accrued return     22,780
Accretion of issuance costs     5,562
Series B Convertible Preferred Stock      
Supplemental Disclosures of Noncash Investing and Financing Activities:      
Preferred Stock accrued return     777
Accretion of issuance costs     53
Series C Convertible Preferred Stock      
Supplemental Disclosures of Noncash Investing and Financing Activities:      
Preferred Stock accrued return     3,347
Accretion of issuance costs     $ 921