XML 41 R7.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities    
Net loss $ (166,014,000) $ (174,523,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 1,172,000 492,000
Research and development license expense 1,250,000 9,750,000
Stock-based compensation 18,043,000 18,184,000
Impairment of long-lived assets 36,420,000 0
Non-cash lease expense 1,315,000  
Other 906,000 388,000
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 2,088,000 (3,361,000)
Accounts payable (7,804,000) 14,494,000
Accrued expenses and other liabilities (9,323,000) 17,542,000
Deferred revenue 33,557,000  
Due to related party   (8,000)
Net cash used in operating activities (88,390,000) (117,042,000)
Cash flows from investing activities    
Purchase of research and development license (4,250,000) (6,250,000)
Purchase of property, plant and equipment (20,619,000) (15,304,000)
Other (61,000)  
Net cash used in investing activities (24,930,000) (21,554,000)
Cash flows from financing activities    
Proceeds from Term Loan, net   39,957,000
Payment of shelf registration costs (358,000) (360,000)
Proceeds from common stock issuances under ESPP 253,000  
Other (1,042,000) (514,000)
Net cash provided by financing activities 52,097,000 39,083,000
Net decrease in cash, cash equivalents and restricted cash (61,223,000) (99,513,000)
Cash, cash equivalents and restricted cash at the beginning of the period 151,740,000 251,253,000
Cash, cash equivalents and restricted cash at the end of the period 90,517,000 151,740,000
Cash and cash equivalents 87,880,000 149,103,000
Restricted cash 2,637,000 2,637,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 2,775,000 641,000
Supplemental disclosure of noncash investing and financing activities:    
Property, plant and equipment in accounts payable and accrued expenses 4,002,000 8,282,000
Acquisition of property, plant and equipment funded by landlord   606,000
Right-of-use assets obtained in exchange for lease liabilities 23,432,000  
Offering costs not yet paid 387,000 141,000
Purchase of research and development license not yet paid   3,500,000
Build-to-suit lease liability   $ 26,250,000
Public Offering    
Cash flows from financing activities    
Net proceeds from issuance of common stock 27,717,000  
Offering to Astellas    
Cash flows from financing activities    
Net proceeds from issuance of common stock 13,887,000  
At-the-Market Offering    
Cash flows from financing activities    
Net proceeds from issuance of common stock $ 11,640,000