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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (89,165) $ (188,140)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash royalty revenue related to the sales of future royalties (32,298) (32,693)
Non-cash interest expense on liabilities related to the sales of future royalties 11,939 12,557
Stock-based compensation 11,418 17,985
Depreciation and amortization 3,066 4,468
Deferred income tax expense 19 (1,839)
Impairment of right-of-use assets and property, plant and equipment 8,329 26,455
Impairment of goodwill 0 76,501
Provision for net realizable value of inventory 2,567 1,252
Amortization of premiums (discounts), net and other non-cash transactions (5,647) (8,150)
Changes in operating assets and liabilities:    
Accounts receivable 9 4,646
Inventory (931) (2,739)
Operating leases, net (4,196) (3,717)
Other assets 1,817 7,902
Accounts payable (3,266) (9,997)
Accrued expenses 10,749 (7,929)
Net cash used in operating activities (85,590) (103,438)
Cash flows from investing activities:    
Purchases of investments (173,504) (249,724)
Maturities of investments 210,087 316,088
Purchases of property, plant and equipment (343) (595)
Net cash provided by investing activities 36,240 65,769
Cash flows from financing activities:    
Proceeds from shares issued under equity compensation plans 22 18
Proceeds from issuance of pre-funded warrant 30,000 0
Proceeds from sale of future royalties 15,000 0
Repurchase of common stock from Bristol-Myers Squibb (3,000) 0
Net cash provided by financing activities 42,022 18
Effect of foreign exchange rates on cash and cash equivalents (9) 152
Net increase (decrease) in cash and cash equivalents (7,337) (37,499)
Cash and cash equivalents at beginning of period 35,277 88,227
Cash and cash equivalents at end of period $ 27,940 $ 50,728