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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net loss $ (124,323) $ (65,165)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 2,604 3,701
Amortization of right-of-use operating lease assets 2,395 602
Amortization of other assets 607 592
Amortization of premium (discount) on investments, net (5,042) 4,175
Amortization of debt issuance costs 1,486 1,343
Non-cash interest related to sale of future royalties 15,363 0
Stock-based compensation expense 26,948 26,236
Loss (gain) on investments 529 (10)
Non-cash losses related to disposal of property, plant and equipment 0 527
Non-cash losses related to other assets 445 110
Changes in operating assets and liabilities:    
Contracts receivable 11,624 35,774
Inventories (167) 774
Other current and long-term assets 5,312 (7,222)
Income taxes payable 11,037 865
Accounts payable (10,295) 2,878
Accrued compensation (31,018) (22,285)
Accrued liabilities and other current liabilities (28,460) 10,473
Deferred contract revenue (13,037) (25,018)
Net cash used in operating activities (133,992) (31,650)
Investing activities:    
Purchases of short-term investments (688,278) (462,855)
Proceeds from sale of short-term investments 374,363 178,837
Purchases of property, plant and equipment (10,472) (2,705)
Acquisition of licenses and other assets, net (1,253) (826)
Net cash used in investing activities (325,640) (287,549)
Financing activities:    
Proceeds from equity, net 2,560 1,848
Payments of tax withholdings related to vesting of employee stock awards and exercise of employee stock options 0 (9,173)
Proceeds from sale of future royalties 500,000 0
Payments of transaction costs related to sale of future royalties (10,434) 0
Principal payments on mortgage debt (39) 0
Net cash provided by (used in) financing activities 492,087 (7,325)
Effects of exchange rates on cash 104 (154)
Net increase (decrease) in cash and cash equivalents 32,559 (326,678)
Cash and cash equivalents at beginning of period 276,472 869,191
Cash and cash equivalents at end of period 309,031 542,513
Supplemental disclosures of cash flow information:    
Interest paid 89 594
Income taxes paid 293 2
Supplemental disclosures of non-cash investing and financing activities:    
Amounts accrued for capital and patent expenditures $ 3,058 $ 1,344