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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (86,841) $ (109,523)
Adjustments to reconcile net loss to net cash used in operating activities:    
Noncash stock compensation expense 19,364 1,146
Depreciation and amortization 100 154
Amortization of premium (discount) on investment securities (487) (17)
Amortization of debt issuance costs 1,100 922
Amortization of leasehold interest 106 106
Noncash change in lease liability and right of use asset 990 1,014
Change in fair value of notes payable 261 (276)
Changes in assets and liabilities:    
Increase in inventory (28,896)  
(Increase) decrease in other current assets (9,316) 8,054
(Increase) decrease in accounts receivable (17,484) 1,301
Increase (decrease) in accounts payable and accrued expenses 19,136 (21,355)
Decrease in lease liabilities (1,187) (995)
Increase in other current liabilities 1,323 1,740
Decrease in deferred revenue (76) (76)
Net cash used in operating activities (101,907) (117,805)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturity of short-term securities 46,501 38,525
Investment in held-to-maturity securities (22,168) (71,810)
Purchases of PPE   (7)
Net cash provided by (used in) investing activities 24,333 (33,292)
CASH FLOWS FROM FINANCING ACTIVITIES    
Payment of loan payable   (975)
Proceeds from exercise of options 1,114 260
Issuance of common stock, net 46,296  
Proceeds from debt financings 25,000  
Financing costs paid (125)  
Net cash (used in) provided by financing activities 72,285 (715)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (5,289) (151,812)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 103,577 300,151
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 98,288 $ 148,339