XML 16 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 123 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2022
Cash flows from operating activities:      
Net loss $ (90,393) $ (122,967)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Non-cash royalty revenue related to the sales of future royalties (17,561) (18,798) $ 351,012
Non-cash interest expense on liabilities related to the sales of future royalties 7,529 13,296 251,802
Change in fair value of development derivative liability (33,427) 1,599  
Non-cash research and development expense 4,951 2,248  
Stock-based compensation 20,961 23,898  
Depreciation and amortization 3,730 3,543  
Amortization of premiums (discounts), net and other non-cash transactions 1,276 2,345  
Changes in operating assets and liabilities:      
Accounts receivable (7,728) 9,733  
Inventory 422 (1,516)  
Operating leases, net 1,787 1,541  
Other assets 2,864 6,183  
Accounts payable 2,998 779  
Accrued compensation 6,918 8,981  
Other accrued expenses 7,249 (7,950)  
Net cash used in operating activities (88,424) (77,085)  
Cash flows from investing activities:      
Purchases of investments (93,493) (295,314)  
Maturities of investments 227,974 303,612  
Sales of investments 0 5,036  
Purchases of property, plant and equipment (4,203) (2,876)  
Net cash provided by investing activities 130,278 10,458  
Cash flows from financing activities:      
Proceeds from shares issued under equity compensation plans 188 17,106  
Cash receipts from development derivative liability 750 750  
Net cash provided by financing activities 938 17,856  
Effect of foreign exchange rates on cash and cash equivalents (17) (20)  
Net increase (decrease) in cash and cash equivalents 42,775 (48,791)  
Cash and cash equivalents at beginning of period 25,218 198,955  
Cash and cash equivalents at end of period 67,993 150,164 $ 67,993
Supplemental disclosures of cash flow information:      
Operating lease right-of-use asset recognized in exchange for lease liabilities $ 0 $ 1,057