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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (126,222) $ (233,977)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash royalty revenue related to the sales of future royalties (48,029) (50,860)
Non-cash interest expense on liabilities related to the sales of future royalties 17,959 18,467
Stock-based compensation 16,809 26,134
Depreciation and amortization 4,059 6,163
Deferred income tax expense (12) (1,854)
Impairment of right-of-use assets and property, plant and equipment 8,329 36,628
Impairment of goodwill 0 76,501
Provision for net realizable value of inventory 20 4,444
Amortization of premiums (discounts), net and other non-cash transactions (7,711) (12,137)
Changes in operating assets and liabilities:    
Accounts receivable (841) 3,777
Inventory (808) (372)
Operating leases, net (7,620) (6,078)
Other assets (1,761) 4,450
Accounts payable (1,023) (9,328)
Accrued expenses 17,329 (7,517)
Net cash used in operating activities (129,522) (145,559)
Cash flows from investing activities:    
Purchases of investments (191,882) (372,821)
Maturities of investments 275,247 494,385
Purchases of property, plant and equipment (1,009) (628)
Sale of property, plant and equipment   1,245
Net cash provided by investing activities 82,356 122,181
Cash flows from financing activities:    
Proceeds from shares issued under equity compensation plans 35 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 42,035 18
Effect of foreign exchange rates on cash and cash equivalents (37) 54
Net increase (decrease) in cash and cash equivalents (5,168) (23,306)
Cash and cash equivalents at beginning of period 35,277 88,227
Cash and cash equivalents at end of period $ 30,109 64,921
Supplemental disclosure of cash flow information:    
Cash paid for income taxes   $ 2,656