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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net loss $ (91,661) $ (114,251)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 928 912
Share-Based Payment Arrangement, Noncash Expense 16,324 20,982
In process research and development expenses 30 35
Amortization of operating lease right-of-use assets 1,363 1,284
Amortization of long-term debt discount and issuance costs 690 591
Amortization of premium (discount) on marketable securities, net of accretion of discounts (3,036) 145
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (5,048) (4,023)
Other assets (90) (174)
Operating lease liabilities (1,463) (1,350)
Accounts payable 716 1,204
Accrued expenses and other current liabilities (1,051) (2,531)
Accrued research and development expenses (3,564) (1,935)
Accrued compensation and benefits (5,335) (3,186)
Accrued interest expense (43) (8)
Net cash used in operating activities (91,240) (102,305)
Cash flows from investing activities    
Research and development asset acquisitions, net of cash acquired (30) (35)
Purchase of marketable securities (133,312) (72,589)
Maturities of marketable securities 155,000 86,000
Purchase of property and equipment 0 (277)
Net cash provided by investing activities 21,658 13,099
Cash flows from financing activities    
Proceeds from issuance of common stock pursuant to Employee Stock Purchase Plan 367 595
Proceeds from the exercise of stock options 0 147
Principal repayments of long-term debt (5,807) 0
Net cash provided by (used in) financing activities (5,440) 742
Effect of exchange rate changes on cash and cash equivalents 53 (687)
Net decrease in cash and cash equivalents (74,969) (89,151)
Cash, cash equivalents and restricted cash, at the beginning of the period 111,973 183,467
Cash, cash equivalents and restricted cash, at the end of the period 37,004 94,316
Supplemental disclosure of cash flow information:    
Cash paid for interest 6,283 6,365
Supplemental disclosure of noncash investing and financing activities:    
Operating lease right-of-use asset obtained in exchange for lease liability 0 3,029
Change in unrealized gain (loss) on marketable securities, net $ 69 $ (413)