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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net (loss) income $ (105,803) $ 7,729 $ (18,000)
Adjustments to reconcile net (loss) income to net cash used in operating activities:      
Depreciation and amortization 551 587 597
Amortization of investments 473 1,929 1,602
Stock-based compensation 26,213 36,938 45,813
Amortization of debt discount and debt issuance costs     635
Amortization of intangible asset 2,545 2,270 1,441
Changes in assets and liabilities:      
Accounts receivable, net 32,663 (9,079) (38,144)
Inventory (36,422) (167,066) (112,095)
Prepaid and other current assets 2,860 8,595 (17,636)
Other long-term assets (2) (24) 642
Interest receivable 341 738 (1,329)
Accrued interest payable     (428)
Deferred revenue (1,363) (1,923) (2,214)
Accounts payable, accrued expenses and other current liabilities (102,729) 51,516 114,741
Other long-term liabilities 581 1,253 2,629
Net cash used in operating activities (180,092) (66,537) (21,746)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Sale and maturities of securities 257,520 394,294 301,989
Purchases of securities (81,633) (290,195) (678,700)
Investment in website development costs (599)    
Disposal (purchases) of furniture, fixtures and equipment   4 (252)
Net cash provided by (used in) investing activities 175,288 104,103 (376,963)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock under employee stock purchase plan 605 1,650 1,957
Proceeds from exercise of stock options, net of transaction costs 60 2,921 5,158
Payment of transaction costs for conversion of preferred stock     (504)
Payment on debt from royalty-bearing instrument     (50,336)
Taxes related to stock-based awards (1,044) (9,644) (15,182)
Net cash used in financing activities (379) (5,073) (58,907)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (5,183) 32,493 (457,616)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 223,372 190,879 648,495
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 218,189 223,372 190,879
Cash (paid) received during the year for:      
Interest     (2,043)
Income taxes (1,782) 3,656 (207)
Supplemental disclosure of non-cash transactions:      
Laxdale milestone   $ 12,000  
Shares issued in settlement of Laxdale milestone payment 8,203    
Initial recognition of operating lease right-of-use asset $ 2,041    
Conversion of Series A Convertible Preferred Stock into common stock     $ 18,020