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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Net loss $ (64,284) $ (37,599)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 178 218
Stock-based compensation expense 5,479 2,754
Non-cash interest expense on royalty financing obligation 7,536 0
Non-cash paid in-kind interest on secured term loan 3,549 0
Amortization of debt issuance costs (58) 341
Amortization of premium/discount on investments 14 4
Change in fair value of foreign currency derivative 0 20
Changes in operating assets and liabilities:    
Receivables (261) 16,504
Inventory 1,927 0
Prepaid expenses and other assets (9,850) (847)
Accounts payable, accrued expenses and other liabilities (7,373) (5,100)
Interest payable 1,877 1,477
Deferred revenue 255 (1,053)
Net cash used in operating activities (61,011) (23,281)
Investing activities    
Acquisitions of property and equipment (99) (116)
Sales and maturities of investments 14,771 10,840
Realized gain on investments 1 0
Net cash provided by investing activities 14,673 10,724
Financing activities    
Net proceeds from common stock issued under stock-based compensation plans 2,900 266
Net cash provided by financing activities 2,900 266
Decrease in cash, cash equivalents and restricted cash (43,438) (12,291)
Cash, cash equivalents and restricted cash at beginning of period 274,348 115,723
Cash, cash equivalents and restricted cash at end of period $ 230,910 $ 103,432