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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Cash flows from operating activities:      
Net loss $ (108,180) $ (180,966) $ (102,680)
Adjustments to reconcile consolidated net loss to net cash used in operating activities:      
Depreciation and amortization 2,706 2,761 1,371
Upfront license and milestone expense 0 10,000 0
Share-based compensation 32,300 31,243 17,454
Write-down of inventory 3,646 245 0
Other, net (3,184) 658 9,477
Net changes in operating assets and liabilities:      
Accounts receivable, net 1,927 (15,415) (650)
Inventories, net (9,072) (5,644) (13,927)
Prepaid expenses and other current assets (2,404) (5,335) 2,559
Non-current assets (839) 247 0
Right of use assets 476 106 (5,489)
Accounts payable and accrued liabilities 699 4,076 13,620
Deferred revenue 3,048 0 0
Lease liabilities (652) 332 8,407
Net cash used in operating activities (79,529) (157,692) (69,858)
Cash flows from investing activities:      
Proceeds from investments 464,316 354,427 52,108
Purchase of investments (523,993) (438,958) (202,951)
Upfront lease payment (663) (11,838) 0
Upfront license payment 0 (6,000) 0
Purchase of long-lived assets and intangibles (292) (303) (5,668)
Additions to internal use-software implementation costs 0 (1,198) (1,675)
Capitalized patent costs 0 0 0
Net cash used in investing activities (60,632) (103,870) (158,186)
Cash flows from financing activities:      
Proceeds from issuance of common shares pursuant to Public Offering, net of issuance costs 0 196,740 187,732
Proceeds from exercise of stock options and employee share purchase plan 2,433 24,007 6,642
Proceeds from exercise of warrants 0 365 1
Net cash provided by financing activities 2,433 221,112 194,375
Net (decrease) increase in cash and cash equivalents during the year (137,728) (40,450) (33,669)
Cash and cash equivalents, beginning of the year 231,900 272,350 306,019
Cash, cash equivalents and restricted cash, end of the year 94,172 231,900 272,350
Supplemental cash flow information:      
Cash received for interest 2,344 749 1,884
Cash paid for taxes (1,979) (257) (261)
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets      
Cash, cash equivalents 94,088 231,643 272,350
Restricted cash 84 257 0
Total cash, cash equivalents and restricted cash $ 94,172 $ 231,900 $ 272,350