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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 192,645 $ (262,372)
Adjustments to reconcile net income (loss) to net cash flow from operating activities    
Stock-based compensation 31,236 37,444
Depreciation and amortization 11,319 8,788
(Accretion) amortization of note premiums/discounts (2,788) 896
Realized loss on investments 0 (80)
Non-cash interest expense on liability related to the sale of future royalties 10,915 12,612
Non-cash interest expense on credit facility 32,369 0
Changes in operating assets and liabilities:    
Accounts receivable (2,365) 0
Prepaid expenses and other assets (20,936) (2,643)
Accounts payable (1,717) (8,402)
Accrued expenses 18,921 (11)
Deferred revenue 43,268 (866)
Operating lease, net (2,255) 4,417
Other 3,169 0
Net cash provided by (used in) operating activities 313,781 (210,217)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (12,813) (102,731)
Purchases of investments (677,892) (309,982)
Proceeds from sales and maturities of investments 347,402 208,615
Net cash used in investing activities (343,303) (204,098)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the exercises of stock options 3,253 1,779
Proceeds from the issuance of common stock, net of offering costs 241,388 429,265
Proceeds from the issuance of warrants 25,000 0
Payments of debt issuance costs (5,000) 0
Repayments of credit facility (151,625) 0
Net cash provided by financing activities 113,016 431,044
Net increase in cash, cash equivalents and restricted cash 83,494 16,729
Effect of exchange rate on cash, cash equivalents and restricted cash (470) 84
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:    
BEGINNING OF PERIOD 102,685 110,891
END OF PERIOD 185,709 127,704
Supplementary disclosure of cash flows:    
Interest paid (19) 0
Income taxes paid (81) (3,014)
Supplemental disclosure of non-cash investing activities:    
Capital expenditures included in accrued expenses $ 358 $ 7,265