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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (101,519) $ 6,182
Adjustments to reconcile (loss) income to net cash (used in) provided by operating activities:    
Depreciation and amortization 288 299
Amortization of investments 575 1,126
Stock-based compensation 14,724 16,404
Amortization of intangible asset 1,273 997
Changes in assets and liabilities:    
Accounts receivable, net 19,711 (27,685)
Inventory (80,094) (83,591)
Prepaid and other current assets (9,907) 2,521
Other long-term assets   (24)
Interest receivable 229 672
Deferred revenue (701) (1,164)
Accounts payable and other current liabilities (8,657) 51,279
Other long-term liabilities 647 (773)
Net cash used in operating activities (163,431) (33,757)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Maturities of securities 186,411 253,084
Purchases of securities (14,172) (74,510)
Disposal of furniture, fixtures and equipment   4
Net cash provided by investing activities 172,239 178,578
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the sale of common stock, net of transaction costs 383 1,028
Proceeds from exercise of stock options, net of transaction costs 49 2,134
Taxes paid related to stock-based awards (693) (7,929)
Net cash used in financing activities (261) (4,767)
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 8,547 140,054
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 223,372 190,879
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 231,919 330,933
Cash received (paid) during the year for:    
Income taxes (2,112) 3,711
Supplemental disclosure of non-cash transactions:    
Initial recognition of operating lease right-of-use asset $ 1,052  
Laxdale Milestone   $ 12,000