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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net loss $ (209,613) $ (170,300)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 5,225 7,484
Amortization of right-of-use operating lease assets 4,826 1,300
Amortization of other assets 1,244 1,197
Amortization of premium (discount) on investments, net (12,481) 7,867
Amortization of debt issuance costs 2,966 2,688
Non-cash royalty revenue related to sale of royalties (12,562) 0
Non-cash interest related to sale of future royalties 32,915 0
Stock-based compensation expense 53,510 50,738
Loss (gain) on investments (301) 54
Gain on early retirement of debt (11,292) 0
Non-cash losses related to disposal of property, plant and equipment 205 527
Non-cash losses related to other assets 570 951
Changes in operating assets and liabilities:    
Contracts receivable (2,254) 55,145
Inventories (3,505) 4,995
Other current and long-term assets (19,696) (39)
Income taxes payable 18,483 (22)
Accounts payable 5,517 (2,672)
Accrued compensation (19,856) (13,825)
Accrued liabilities and other current liabilities (37,562) 45,170
Deferred contract revenue (27,695) (41,004)
Net cash used in operating activities (231,356) (49,746)
Investing activities:    
Purchases of short-term investments (932,362) (663,195)
Proceeds from sale of short-term investments 701,034 380,375
Purchases of property, plant and equipment (22,483) (6,040)
Acquisition of licenses and other assets, net (2,314) (1,993)
Net cash used in investing activities (256,125) (290,853)
Financing activities:    
Proceeds from equity, net 4,950 3,462
Payments of tax withholdings related to vesting of employee stock awards and exercise of employee stock options 0 (9,572)
Proceeds from issuance of 1.75 percent convertible senior notes 575,000 0
1.75 percent convertible senior notes issuance costs (13,658) 0
Repurchase of $434.1 million principal amount of 0.125 percent convertible senior notes (420,158) 0
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 (75) 0
Net cash provided by (used in) financing activities 635,625 (6,110)
Effects of exchange rates on cash 174 (565)
Net increase (decrease) in cash and cash equivalents 148,318 (347,274)
Cash and cash equivalents at beginning of period 276,472 869,191
Cash and cash equivalents at end of period 424,790 521,917
Supplemental disclosures of cash flow information:    
Interest paid 529 1,544
Income taxes paid 510 2
Supplemental disclosures of non-cash investing and financing activities:    
Amounts accrued for capital and patent expenditures $ 251 $ 1,121