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Condensed Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net loss $ (39,075) $ (35,219)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 387 218
Accretion of premiums and discounts on investments (97) (140)
Non-cash interest expense related to the revenue interest liability 13,739 3,996
Stock-based compensation expense 21,712 19,526
Changes in assets and liabilities:    
Prepaids and other assets (7,989) (1,802)
Deferred revenue (490) 2,618
Inventories (9,061) 0
Other long-term liabilities 1,710 0
Accounts payable (11,326) (21,158)
Other accrued liabilities 13,863 11,614
Net cash used in operating activities (16,627) (20,347)
Investing activities    
Purchases of investments (4,420) (26,630)
Proceeds from sales/maturities of investments 39,145 94,510
Purchase of property and equipment (693) (781)
Net cash provided by investing activities 34,032 67,099
Financing activities    
Proceeds from revenue interest liability 25,000 124,424
Proceeds from exercise of common stock options 6,395 4,757
Payments on revenue interest liability (110) 0
Net cash provided by financing activities 31,285 129,181
Net increase in cash and cash equivalents 48,690 175,933
Cash, cash equivalents and restricted cash at beginning of period 167,058 36,973
Cash, cash equivalents and restricted cash at end of period 215,748 212,906
Supplemental disclosure of cash flow information:    
Purchase of property and equipment not yet paid 148 74
Non cash right of use asset $ 3 $ 31