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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (48,053) $ (128,659)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 626 812
Inventory obsolescence 1 238
Stock-based compensation expense 26,825 26,848
Non-cash interest expense on royalty financing obligations and secured term loan and amortization of debt issuance costs 39,041 43,935
Amortization of premium/discount on investments (6,674) (4,217)
Loss on extinguishment of debt 0 29,019
Changes in operating assets and liabilities:    
Receivables (12,085) (6,968)
Inventory (481) 1,029
Prepaid expenses and other assets 2,851 (1,484)
Accounts payable and accrued expenses (57,103) (27,414)
Deferred revenue 0 535
Net cash used in operating activities (55,052) (66,326)
Cash flows from investing activities:    
Acquisitions of property and equipment (390) (627)
Purchase of investments (200,303) (233,530)
Sales and maturities of investments 227,000 108,013
Net cash provided by (used in) investing activities 26,307 (126,144)
Cash flows from financing activities:    
Net proceeds from common stock issued under stock-based compensation plans 1,945 6,825
Common stock issued to directors in lieu of cash retainer 23 206
Withholding taxes paid on stock-based awards (4,190) 0
Net proceeds from Pharmakon Tranche A term loan 0 300,000
Repayment of Athyrium secured term loans principal 0 (240,452)
Prepayment and repayment fees on Athyrium secured term loans 0 (21,261)
Payment of debt issuance costs on Pharmakon Tranche A term loan 0 (10,885)
Principal payments on finance lease liabilities (792) 0
Net cash (used in) provided by financing activities (3,014) 34,433
Effect of exchange rate on cash, cash equivalents, and restricted cash (483) (413)
Decrease in cash, cash equivalents and restricted cash (32,242) (158,450)
Cash, cash equivalents and restricted cash at beginning of period 112,447 306,239
Cash, cash equivalents and restricted cash at end of period 80,205 147,789
Supplemental Cash Flow Information [Abstract]    
Cash paid for interest 10,041 12,300
Cash paid for taxes 865 1,126
Taxes withheld on stock-based awards included in accrued expenses $ 189 $ 2,188