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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net income (loss) $ (280,321) $ 127,840 $ (111,250)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities      
Stock-based compensation expense 40,788 38,808 31,949
Depreciation and amortization 12,909 9,564 8,407
Provision for credit losses (recoveries) 0 (2,569) 7,678
Net amortization of premiums on marketable debt securities 4,712 5,842 1,083
Net loss (gain) on investments 79 (5,189) (4,918)
Imputed interest income from licensing (342) (360) (2,163)
Non-cash interest expense 137 4,642 771
Other non-cash adjustments 573 79 163
Changes in operating assets and liabilities      
Accounts receivable 4,822 14,118 (9,898)
Prepaid expenses 4,852 (8,247) (4,030)
Other current assets 247 (7,314) 2,341
Operating lease right-of-use assets 4,450 4,866 3,219
Other assets 31 (2,272) 399
Accounts payable 18,790 (2,304) 3,873
Accrued expenses and other current liabilities (25,616) 29,908 17,400
Deferred revenue (1,165) (899)  
Operating lease liabilities (544) 12,073 2,139
Other liabilities 8,110 289 (1,224)
Net cash provided by (used in) operating activities (207,488) 218,875 (54,061)
Cash flows from investing activities      
Purchases of marketable debt securities (184,875) (498,144) (123,041)
Maturities of marketable debt securities 203,146 170,086 233,468
Sales of marketable debt securities     2,287
Sales of equity securities 524 5,591 36,914
Purchases of property and equipment (30,724) (84,175) (26,869)
Net cash provided by (used in) investing activities (11,929) (406,642) 122,759
Cash flows from financing activities      
Proceeds from exercise of stock options 2,804 4,281 5,623
Taxes paid related to net settlement of stock-based awards (284) (2)  
Proceeds from issuance of common stock under employee stock purchase plan 1,742 1,768 1,799
Proceeds from public offering of common stock, net of underwriting discounts and commissions   216,438  
Issuance costs for public offering of common stock   (379)  
Proceeds from sale of future royalties     196,000
Transaction costs for sale of future royalties   (265) (3,208)
Repayments under liability related to sale of future royalties, net of imputed interest (33,102) (26,591)  
Net cash provided by (used in) financing activities (28,840) 195,250 200,214
Net increase (decrease) in cash and cash equivalents and restricted cash (248,257) 7,483 268,912
Cash and cash equivalents and restricted cash      
Beginning of period 347,239 339,756 70,844
End of period 98,982 347,239 339,756
Supplemental cash flow information      
Cash paid (received) for income taxes 11,812 5,996 $ (191)
Cash paid for imputed interest under liability related to sale of future royalties $ 23,117 $ 21,635