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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net loss $ (88,881) $ (226,539) $ (247,116)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 1,246 1,655 1,437
Inventory obsolescence 1,350 422 932
Stock-based compensation expense 65,413 55,615 44,701
Non-cash interest expense on royalty financing obligations and secured term loan and amortization of debt issuance costs 67,607 85,803 98,918
Amortization of premium (discount) on investments, net (11,473) (10,263) (1,777)
Loss on extinguishment of debt 0 29,019 0
Loss on impairment 0 1,548 0
Changes in operating assets and liabilities:      
Receivables (22,698) (6,095) (21,470)
Inventory (4,164) (1,450) (12,423)
Prepaid expenses and other assets 1,959 (6,820) (2,583)
Accounts payable and accrued expenses (62,379) (16,806) (22,360)
Deferred revenue 0 (1,230) (109)
Net cash used in operating activities (52,020) (95,141) (161,850)
Cash flows from investing activities:      
Acquisitions of property and equipment (1,124) (2,168) (1,351)
Purchases of investments (266,763) (514,407) (244,283)
Maturities of investments 320,480 385,077 117,396
Net cash provided by (used in) investing activities 52,593 (131,498) (128,238)
Cash flows from financing activities:      
Net proceeds from common stock issued under stock-based compensation plans 3,444 8,340 14,765
Common stock issued to directors in lieu of cash retainer 34 342 190
Withholding taxes paid on stock-based awards (7,535) (2,172) 0
Net proceeds from secured term loans 0 300,000 73,072
Repayment of Athyrium secured term loans principal 0 (240,452) 0
Prepayment and repayment fees on Athyrium secured term loans 0 (21,261) 0
Payment of debt issuance costs on Pharmakon Tranche A term loan 0 (11,147) 0
Principal payments on finance lease liabilities (1,704) (1,165) 0
Net cash (used in) provided by financing activities (5,761) 32,485 88,027
Effect of exchange rates on cash, cash equivalents and restricted cash (936) 362 566
Decrease in cash, cash equivalents and restricted cash (6,124) (193,792) (201,495)
Cash, cash equivalents and restricted cash at beginning of year 112,447 306,239 507,734
Cash, cash equivalents and restricted cash at end of year 106,323 112,447 306,239
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]      
Cash and cash equivalents 104,713 110,643 304,767
Restricted cash 210 1,804 1,472
Restricted cash in other assets 1,400 0 0
Total cash, cash equivalents and restricted cash 106,323 112,447 306,239
Supplemental cash flow disclosure:      
Cash paid for interest 30,383 22,139 0
Cash paid for taxes 1,603 1,434 3,542
Taxes withheld on stock-based awards included in accrued expenses $ 758 $ 4,199 $ 1,990