XML 21 R8.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net loss $ (227,413) $ (209,383) $ (419,503)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation 35,463 29,176 21,247
Depreciation and amortization 9,455 5,465 1,268
Deferred income taxes 0 (17,425) 0
Noncash lease expense 1,143 1,137 1,221
Amortization of debt discount and issuance costs 8,812 2,143 0
Net accretion and amortization of investments in marketable securities (20) (570) (4,887)
Acquired in-process research and development (IPR&D) 0 10,700 251,437
Change in fair value of contingent consideration 1,885 8,600 5,600
Other (2) (205) (471)
Changes in operating assets and liabilities:      
Accounts receivable (6,315) (3,824) 0
Inventory (3,474) (1,026) 0
Prepaid expenses and other current assets (25,007) (575) 7,573
Other assets 4,480 (1,613) (5,723)
Accounts payable, accrued and other current liabilities 21,330 13,711 5,647
Contingent consideration liability (1,500) 0 0
Operating lease liability (1,691) (1,287) 11,720
Deferred revenue (2,451) (2,555) 13,352
Net cash used in operating activities (185,305) (167,531) (111,519)
Cash flows from investing activities:      
Cash paid for IPR&D assets 0 (10,700) (179,624)
Purchase of Tevard note receivable 0 (5,000) 0
Purchases of marketable securities (416,155) (509,335) (329,641)
Proceeds from maturities of marketable securities 540,133 347,627 415,020
Proceeds from sale of marketable securities 13,500 12,987 176,858
Purchases of property and equipment (83) (679) (9,492)
Net cash provided by (used in) investing activities 137,395 (165,100) 73,121
Cash flows from financing activities:      
Payments for contingent consideration liability (18,000) (15,000) (20,000)
Proceeds from issuance of common stock under equity incentive plans 1,962 5,515 10,182
Payments of tax withholding obligation on vesting restricted stock units (1,788) (2,157) (744)
Net proceeds from issuance of convertible debt 0 223,100 0
Payment of debt issuance costs 0 (557) 0
Proceeds from issuance of common stock, net 0 226,576 42,576
Net cash provided by financing activities (17,826) 437,477 32,014
Net increase (decrease) in cash and cash equivalents (65,736) 104,846 (6,384)
Cash and cash equivalents at beginning of period 166,916 62,070 68,454
Cash and cash equivalents at end of period 101,180 166,916 62,070
Supplemental Cash Flow Information [Abstract]      
Cash paid for interest 6,378 0 0
Noncash investing and financing activities:      
Common stock issued as consideration for asset acquisition 0 0 68,124
Net liabilities assumed in connection with asset acquisition $ 0 $ 0 $ 3,688