XML 38 R7.htm IDEA: XBRL DOCUMENT v3.22.4
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 loss $ (112,717) $ (66,819) $ (51,010)
Adjustments to reconcile net loss to net cash used in operating activities:      
Share-based compensation expense 26,779 12,083 6,514
Depreciation and amortization 3,689 1,409 1,277
Non-cash interest 442 468 78
Deferred income tax benefit (4,976) (1,668) (673)
Changes in operating assets and liabilities:      
Accounts receivable (1,641) 4,543 (2,149)
Research and development incentives receivable (9,707) (1,866) (1,786)
Prepaid expenses and other assets (2,020) (2,974) 502
Operating lease right-of-use assets 2,698 404 771
Accounts payable 2,561 1,196 (663)
Accrued expenses and other current liabilities 12,362 1,185 4,832
Operating lease liabilities (2,114) (582) (621)
Deferred revenue (2,135) 37,117 24,622
Other long-term liabilities 668 710 517
Net cash used in operating activities (86,111) (14,794) (17,789)
Cash used in investing activities:      
Purchases of property and equipment (18,987) (2,030) (1,200)
Net cash used in investing activities (18,987) (2,030) (1,200)
Cash flows from financing activities:      
Proceeds from the issuance of ADSs, net of issuance costs 5,703 290,984 48,144
Issuance of ordinary shares pursuant to the Ionis share purchase agreement   7,558  
Proceeds from the exercise of share options and sale of ordinary shares 989 7,183 271
Proceeds from the exercise of warrants     1
Proceeds from issuance of debt   15,000 15,000
Payments of debt issuance costs     (573)
Net cash provided by financing activities 6,692 320,725 62,843
Effect of exchange rate changes on cash and cash equivalents (1,120) (1,211) 19
Net (decrease) increase in cash and cash equivalents (99,526) 302,690 43,873
Cash and cash equivalents at beginning of period 438,680 135,990 92,117
Cash and cash equivalents at end of period 339,154 438,680 135,990
Supplemental disclosure of cash flow information      
Cash paid for interest 2,793 2,515 378
Cash paid for income taxes 2,228 73 124
Cash paid for amounts included in the measurement of operating lease liabilities 3,154 911 961
Purchases of property and equipment included in accounts payable and accrued expenses 1,564 324 109
Advance billings on deferred revenue included in accounts receivable     $ 3,000
Non-cash impact right-of-use asset and operating lease liabilities $ 3,120 $ 13,846