XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss including noncontrolling interests in subsidiaries $ (120,756) $ (143,899)
Adjustments to reconcile net loss including noncontrolling interests in subsidiaries to net cash used in operating activities:    
Change in fair value of investment, net 0 2,752
Gain on sale of investment 0 (3,591)
Depreciation and amortization 6,777 4,547
Amortization of debt discount and issuance costs 56 (178)
Change in fair value of Series A redeemable convertible preferred stock embedded derivatives 5,151 14,463
Change in fair value of Series A warrants 1,494 11,824
Change in fair value of Series B warrants 403 178,198
Compensation expense for share-based awards 2,257 979
Loss on foreign currency exchange 2,627 176
Change in fair value of equity securities 229,850 (49,007)
Gain on sale of equity securities (78,374) (15,436)
Earnings on equity investment in joint venture (42,085) (2,737)
Deferred income taxes (15,500) 0
Changes in assets and liabilities:    
Accounts receivable (4,339) (12,244)
Inventories (3,125) 0
Prepaid expenses and other assets (3,135) (627)
Accounts payable and accrued expenses 723 2,826
Royalties and contingent legal fees payable 118 3,927
Deferred revenue 305 0
Net cash used in operating activities (17,553) (8,027)
Cash flows from investing activities:    
Patent acquisition (5,000) (11,000)
Sale of investment at fair value 0 3,591
Purchases of equity securities (107,537) (27,871)
Sales of equity securities 191,494 33,467
Distributions received from equity investment in joint venture 0 1,830
Purchases of property and equipment (410) (45)
Net cash provided by (used in) investing activities 78,547 (28)
Cash flows from financing activities:    
Repurchase of common stock (39,508) 0
Issuance of Senior Secured Notes, net of lender fee 0 80,000
Paydown of Senior Secured Notes (65,000) (50,000)
Dividend on Series A Redeemable Convertible Preferred Stock (1,399) (523)
Taxes paid related to net share settlement of share-based awards (503) 0
Proceeds from exercise of stock options 0 94
Net cash (used in) provided by financing activities (106,410) 29,571
(Decrease) increase in cash and cash equivalents and restricted cash (45,416) 21,516
Cash and cash equivalents and restricted cash, beginning 309,361 200,546
Cash and cash equivalents and restricted cash, ending 263,945 222,062
Supplemental schedule of cash flow information:    
Interest paid 4,879 2,340
Income taxes paid 37 9
Noncash investing and financing activities:    
Patent acquisition in exchange of notes receivable 0 4,000
Patent acquisition accrued liabilities 0 15,000
Distribution to noncontrolling interests in subsidiaries $ 0 $ 906