XML 28 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
Operating activities:      
Net loss $ (282,840) $ (383,457) $ (279,659)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 1,927 2,075 2,245
Amortization of intangibles 36,043 31,515 36,401
Intangible asset impairment charge 0 115,527 0
Non-cash interest expense related to sale of future royalties 9,117 0 0
Non-cash royalty revenue related to sale of future royalties (821) 0 0
Amortization of premium/discount on investments (15) (47) (819)
Non-cash interest expense 1,165 1,534 786
Non-cash operating lease expense (1,842) (2,037) (2,229)
Write-off of property and equipment 0 0 2,053
Fair value step-up of inventory sold or written off 21,575 68,240 70,444
Write-down of inventory 15,618 20,072 7,112
Change in excess inventory purchase commitments 33,391 25,114 0
Stock-based compensation 22,735 24,460 11,925
Deferred income taxes 0 0 (6,631)
Change in fair value of derivative liability (600) 286 0
Changes in operating assets and liabilities:      
Accounts receivable (24,022) 12,011 (22,198)
Inventory (25,847) 6,163 (29,142)
Prepaid expenses and other current assets (18,658) (8,119) 10,541
Operating lease assets (13,888) 0 0
Other long-term assets 5,674 (2,779) 4,917
Accounts payable (11,735) 3,678 1,372
Accrued expense (24,680) 6,356 (27,351)
Operating lease liabilities 15,398 1,411 2,531
Deferred revenue 1,821 (32,391) (39,739)
Other non-current liabilities (12,481) 0 0
Net cash used in operating activities (252,965) (110,388) (257,441)
Investing activities:      
Purchase of property and equipment (59) (317) (6,655)
Purchase of available for sale securities 0 (99,932) 0
Proceeds from the maturities of available for sale securities 40,000 60,245 153,110
Proceeds from sales of available for sale securities 0 0 64,721
Net cash provided by (used in) investing activities 39,941 (40,004) 211,176
Financing activities:      
Proceeds from sale of future royalties, net 44,783 0 0
Proceeds from the issuance of common stock, net of issuance costs 88,202 209,419 25,785
Proceeds from the sale of stock under employee stock purchase plan 746 1,100 383
Proceeds from the exercise of stock options 0 1,226 560
Retirement of treasury stock 0 0 (426)
Proceeds from the issuance of debt, net 0 19,975 77,668
Payments on debt 0 0 (15,000)
Net cash provided by financing activities 133,731 231,720 88,970
Increase (decrease) in cash, cash equivalents, and restricted cash (79,293) 81,328 42,705
Cash, cash equivalents, and restricted cash at beginning of the period 231,132 149,804 107,099
Cash, cash equivalents, and restricted cash at end of the period 151,839 231,132 149,804
Non-cash financing activities      
Unpaid offering costs 2 100 0
Cash paid for:      
Interest $ 9,632 $ 7,843 $ 781