XML 19 R7.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (212,003) $ (131,091)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 47,339 19,660
Stock-based compensation expense 9,669 16,013
Noncash research and development expense (finance lease) 0 22,223
Noncash operating lease expense 18,015 23,965
Gain from sale of priority review voucher 0 (92,930)
Change in excess inventory reserve 8,035 9,202
Noncash interest related to debt 1,916 0
Other non-cash items (14) 100
Gain on foreign currency exchange rates (86) (1,062)
Changes in operating assets and liabilities:    
Accounts receivable 0 (14,600)
Prepaid expenses and other assets (47,022) 2,117
Inventory (38,038) (26,197)
Accounts payable 6,660 1,712
Accrued expenses and other liabilities 2,986 5,709
Accrued interest payable under finance lease 8,010 3,203
Operating lease liabilities (15,323) (18,686)
Deferred revenue 0 (248)
Net cash used in operating activities (209,856) (180,910)
Cash flows from investing activities:    
Purchase of property, plant and equipment (2,114) (2,975)
Purchases of marketable securities 0 (43,297)
Proceeds from previously transferred invoices, net of fees 3,546 0
Proceeds from maturities of marketable securities 0 99,521
Proceeds from sales of marketable securities 0 5,853
Purchase of intangible assets 0 (868)
Proceeds from sale of priority review voucher 0 92,930
Net cash provided by investing activities 1,432 151,164
Cash flows from financing activities:    
Proceeds from the issuance of debt, net of fees paid to lender 71,316 0
Proceeds allocated to detachable warrants issued in conjunction with debt 2,669 0
Payments of debt issuance costs (2,576) 0
Proceeds from exercise of stock options and ESPP contributions 0 93
Proceeds from the transfer of invoices, net of fees 50,646 0
Principal payments on finance leases  (69,576) (40,299)
Net cash provided by financing activities 52,479 89,670
(Decrease) increase in cash, cash equivalents and restricted cash (155,945) 59,924
Cash, cash equivalents and restricted cash at beginning of period 274,597 158,445
Cash, cash equivalents and restricted cash at end of period 118,652 218,369
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 70,651 165,347
Restricted cash included in other current assets 4,360 8,885
Restricted cash included in restricted cash and other non-current assets 43,641 44,137
Total cash, cash equivalents and restricted cash 118,652 218,369
Supplemental cash flow disclosures from investing and financing activities:    
Purchases of property, plant and equipment included in accounts payable and accrued expenses 31 941
Offering expenses included in accounts payable and accrued expenses 0 248
Right-of-use assets obtained in exchange for operating lease liabilities 0 (708)
Right-of-use assets obtained in exchange for finance lease liabilities 41,893 21,508
Cash paid (refund received) during the period for income taxes (10) 5
Beneficiary interest obtained in transferred invoices 4,850 0
Derecognition of due to factor liabilities 43,650 0
Private Placement    
Cash flows from financing activities:    
Proceeds from issuance of common stock 0 (196)
Public Offering    
Cash flows from financing activities:    
Proceeds from issuance of common stock $ 0 $ 130,072