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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (53,333) $ (74,196)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 405 317
Inventory obsolescence 236 0
Stock-based compensation expense 14,007 9,601
Non-cash interest expense on royalty financing obligations and secured term loan and amortization of debt issuance costs 20,216 19,003
Amortization of premium/discount on investments (1,385) 30
Changes in operating assets and liabilities:    
Receivables 2,019 (7,048)
Inventory 131 (354)
Prepaid expenses and other assets (2,547) (2,320)
Accounts payable and accrued expenses (27,226) (22,908)
Deferred revenue (35) 75
Net cash used in operating activities (47,512) (77,800)
Cash flows from investing activities:    
Acquisitions of property and equipment (160) (406)
Purchase of investments (148,637) (38,066)
Sales and maturities of investments 41,688 0
Net cash used in investing activities (107,109) (38,472)
Cash flows from financing activities:    
Net proceeds from common stock issued under stock-based compensation plans 5,077 7,356
Net cash provided by financing activities 5,077 7,356
Effect of exchange rate on cash, cash equivalents, and restricted cash (96) 40
Decrease in cash, cash equivalents and restricted cash (149,640) (108,876)
Cash, cash equivalents and restricted cash at beginning of period 306,239 507,734
Cash, cash equivalents and restricted cash at end of period $ 156,599 $ 398,858