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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net loss $ (114,526) $ (79,124)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 17,624 14,697
Depreciation and amortization 4,729 740
Deferred income taxes 0 (17,425)
Amortization of debt discount and issuance costs 4,281 0
Acquired in-process research and development expense 0 3,000
Change in fair value of contingent consideration 1,100 4,300
Other non-cash items, net 573 77
Changes in operating assets and liabilities:    
Accounts receivable (3,878) 0
Inventory (1,897) (475)
Prepaid expenses and other current assets (272) 251
Other non-current assets (50) (1,171)
Accounts payable, accrued and other current liabilities (2,649) (5,737)
Operating lease liabilities (723) (634)
Deferred revenue (1,102) (2,281)
Net cash used in operating activities (96,790) (83,782)
Cash flows from investing activities:    
Cash paid for in-process research and development asset 0 (3,000)
Purchases of marketable securities (214,547) (180,832)
Proceeds from maturities of marketable securities 284,945 114,205
Proceeds from sale of marketable securities 13,500 2,988
Purchases of property and equipment (87) (415)
Net cash (used in) provided by investing activities 83,811 (67,054)
Cash flows from financing activities:    
Payment of contingent consideration (15,000) 0
Proceeds from issuance of common stock under equity incentive plans 1,042 4,498
Payments of tax withholding obligation on vesting restricted stock units (896) (569)
Proceeds from issuance of common stock, net of issuance costs 0 221,708
Net cash (used in) provided by financing activities (14,854) 225,637
Net (decrease) increase in cash and cash equivalents (27,833) 74,801
Cash and cash equivalents, beginning of the period 166,916 62,070
Cash and cash equivalents, end of the period 139,083 136,871
Supplemental disclosure of non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for new operating lease liabilities $ 0 $ 1,156