XML 17 R7.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (233,977) $ (308,510)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash royalty revenue related to the sales of future royalties (50,860) (52,167)
Non-cash interest expense on liabilities related to the sales of future royalties 18,467 21,710
Change in fair value of development derivative liability 0 (33,427)
Non-cash research and development expense 0 4,951
Stock-based compensation 26,134 44,582
Depreciation and amortization 6,163 9,848
Deferred income tax expense (1,854) 0
Impairment of right-of-use assets and property, plant and equipment 36,628 58,521
Impairment of goodwill 76,501 0
Provision for inventory obsolescence 4,444  
Amortization of premiums (discounts), net and other non-cash transactions (12,137) (372)
Changes in operating assets and liabilities:    
Accounts receivable 3,777 10,960
Inventory (372) (3,256)
Operating leases, net (6,078) (1,423)
Other assets 4,450 4,861
Accounts payable (9,328) (4,184)
Accrued expenses (7,517) 1,602
Net cash used in operating activities (145,559) (246,304)
Cash flows from investing activities:    
Purchases of investments (372,821) (295,439)
Maturities of investments 494,385 626,424
Purchases of property, plant and equipment (628) (5,164)
Sale of property, plant and equipment 1,245 0
Net cash provided by investing activities 122,181 325,821
Cash flows from financing activities:    
Proceeds from shares issued under equity compensation plans 18 655
Cash receipts from development derivative liability 0 750
Net cash provided by financing activities 18 1,405
Effect of foreign exchange rates on cash and cash equivalents 54 (382)
Net increase (decrease) in cash and cash equivalents (23,306) 80,540
Cash and cash equivalents at beginning of period 88,227 25,218
Cash and cash equivalents at end of period 64,921 105,758
Supplemental disclosures of cash flow information:    
Cash paid for income taxes $ 2,656 $ 0