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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities      
Net loss $ (116,045) $ (133,816) $ (121,755)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation expense 26,795 28,216 26,969
Depreciation and amortization expense 2,336 2,371 2,973
Non-cash interest expense associated with the sale of future royalties (135) 5,148 0
Non-cash royalty revenue 2,350 (10,318) 0
Premium paid on marketable securities 0 (73) (846)
Amortization (accretion) of premiums (discounts) on marketable securities (1,138) (2,856) 1,171
Loss on disposal of property and equipment 16 150 0
Change in fair value of Series 1 nonconvertible preferred stock (73) 0 (83)
Change in operating assets and liabilities:      
Accounts receivable 1,968 11,704 3,258
Prepaid expenses and other current assets 850 182 743
Income tax receivable (995) (2,286) 8,537
Operating lease, right-of-use assets 6,096 4,598 4,776
Other long-term assets 709 (107) (604)
Accounts payable (414) (1,151) (4,634)
Accrued expenses (5,646) (2,558) (1,477)
Operating lease liabilities 4,994 (2,567) (3,706)
Other long-term liabilities (432) 209 (104)
Net cash used in operating activities (78,764) (103,154) (84,782)
Cash flows from investing activities      
Purchase of marketable securities (307,282) (373,391) (171,446)
Proceeds from maturities and sale of marketable securities 383,465 328,871 228,468
Purchase of property and equipment (17,948) (9,058) (2,125)
Net cash provided by (used in) investing activities 58,235 (53,578) 54,897
Cash flows from financing activities      
Payments on royalty sale liability, net of imputed interest (27,479) 0 0
Proceeds from the exercise of stock options 147 2,208 21,262
Proceeds from the sale of future royalties 0 200,000 0
Payments for debt issuance costs 0 (325) 0
Payments for settlement of share-based awards (294) (3,757) (1,229)
Net cash provided by (used in) financing activities (27,626) 198,126 20,033
Net increase (decrease) in cash, cash equivalents and restricted cash (48,155) 41,394 (9,852)
Cash, cash equivalents and restricted cash at beginning of period 89,356 47,962 57,814
Cash, cash equivalents and restricted cash at end of period 41,201 89,356 47,962
Supplemental disclosure of cash flow information      
Cash paid for taxes 241 4,899 0
Cash paid for interest 11,710 1,987 0
Cash received from tenant improvement allowances 9,358 1,994 0
Supplemental disclosure of noncash information:      
Purchases of fixed assets included in accounts payable and accrued expenses 5,597 424 1,215
Operating lease liabilities arising from obtaining right-of-use assets $ 23,960 $ 3,817 $ 23,910