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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (156,730) $ (107,431)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 34,244 18,822
Depreciation on property and equipment 126 65
Non-cash lease expense 1,106 933
Other non-cash items 0 (282)
Changes in operating assets and liabilities:    
Accounts receivable (11,633) (596)
Prepaid expenses and other current assets 2,137 753
Income tax receivable (85) (512)
Accounts payable 16,254 1,251
Accrued expenses 9,472 4,468
Operating lease liabilities (1,179) (798)
Due to Roivant Sciences Ltd. 176 0
Net cash used in operating activities (106,112) (83,327)
Cash flows from investing activities    
Purchases of property and equipment (254) (210)
Net cash used in investing activities (254) (210)
Cash flows from financing activities    
Capital contributions 129 1,096
Proceeds from stock options exercised 0 907
Payment of deferred offering costs 0 (1,236)
Net cash provided by financing activities 200,129 383,112
Effect of exchange rate changes on cash (92) 0
Net change in cash 93,671 299,575
Cash – beginning of period 400,146 100,571
Cash – end of period 493,817 400,146
Non-cash operating activity    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 127 4,215
Supplemental disclosure of cash paid:    
Income taxes 0 166
Underwritten Public Offering    
Cash flows from financing activities    
Proceeds from issuance of common stock 0 319,783
Warrant Redemption    
Cash flows from financing activities    
Proceeds from issuance of common stock 0 65,752
Roivant Sciences Ltd. (RSL)    
Cash flows from financing activities    
Proceeds from issuance of common stock 200,000 0
Repayment of note payable to Roivant Sciences Ltd. $ 0 $ (3,190)