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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (114,251) $ (117,473)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 912 842
Stock-based compensation expense 20,982 16,762
In process research and development expenses 35 45
Amortization of operating lease right-of-use assets 1,284 1,729
Amortization of long-term debt discount and issuance costs 591 3,284
Amortization of premium on marketable securities, net of accretion of discounts 145 115
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (4,023) (1,373)
Other assets (174) (43)
Operating lease liabilities (1,350) (1,778)
Accounts payable 1,204 (6,631)
Accrued expenses (2,531) (342)
Accrued research and development expenses (1,935) 2,775
Accrued compensation and benefits (3,186) (4,258)
Accrued interest expense (8) 0
Net cash used in operating activities (102,305) (106,346)
Cash flows from investing activities    
Research and development asset acquisitions, net of cash acquired (35) (45)
Purchase of marketable securities (72,589) (49,923)
Maturities of marketable securities 86,000 12,800
Purchase of property and equipment (277) (940)
Net cash provided by (used in) investing activities 13,099 (38,108)
Cash flows from financing activities    
Proceeds from issuance of common stock pursuant to Employee Stock Purchase Plan 595 759
Proceeds from the exercise of stock options 147 286
Net cash provided by financing activities 742 1,045
Effect of exchange rate changes on cash, cash equivalents and restricted cash (687) (192)
Net decrease in cash, cash equivalents and restricted cash (89,151) (143,601)
Cash, cash equivalents and restricted cash, at the beginning of the period 183,467 486,620
Cash, cash equivalents and restricted cash, at the end of the period 94,316 343,019
Supplemental disclosure of cash flow information:    
Cash paid for interest 6,365 6,365
Supplemental disclosure of noncash investing and financing activities:    
Operating lease right-of-use asset obtained in exchange for lease liability 3,029 0
Change in unrealized loss on marketable securities, net $ (413) $ (115)