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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net loss $ (21,683) $ (20,217) $ (32,227) $ (79,185) $ (142,000)
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization     1,193 1,453  
Impairment charges 0 0 1,008 0  
Share-based compensation     (6,490) 24,506  
Change in fair value of warrants 52 (8,284) (252) (12,310)  
Change in fair value of contingent consideration     1,237 53  
Deferred income taxes     1 (735)  
Non-cash operating lease expense     828 814  
Other non-cash operating activities     (1,233) 189  
Changes in assets and liabilities:          
Receivables     3,331 (1,806)  
Inventories     (1,413) 0  
Prepaid and other current assets     (1,213) (3,761)  
Trade payables and accrued liabilities     (2,718) 577  
Contract liabilities     2,046 8,384  
Provision for contract losses, net     (934) 30,577  
Other non-current assets and liabilities     (1,521) (116)  
Net cash used in operating activities     (38,357) (31,360)  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Capital expenditures     (854) (3,484)  
Purchases of available-for-sale securities     (81,488) (199,779)  
Maturities of available-for-sale securities     116,500 40,800  
Sales of available-for-sale securities     0 65,817  
Net cash provided by (used in) investing activities     34,158 (96,646)  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from issuance of common stock under employee stock purchase plan     168 0  
Proceeds from exercise of stock options     1,155 887  
Other financing costs     0 (1,274)  
Net cash provided by (used in) financing activities     1,323 (387)  
Decrease in cash, cash equivalents and restricted cash     (2,876) (128,393)  
Cash, cash equivalents and restricted cash at the beginning of the period     47,874 191,581 191,581
Cash, cash equivalents and restricted cash at the end of the period 44,998 63,188 44,998 63,188 47,874
Reconciliation of cash, cash equivalents and restricted cash:          
Cash and cash equivalents 43,498 60,731 43,498 60,731 45,719
Short-term restricted cash 0 957 0 957 655
Long-term restricted cash 1,500 1,500 1,500 1,500 1,500
Total cash, cash equivalents and restricted cash $ 44,998 $ 63,188 44,998 63,188 $ 47,874
Non-cash investing and financing activities:          
Fair value of Project Warrants and Collaboration Warrants recognized in equity     139 9,428  
Capital expenditures incurred but not yet paid     $ 1 $ 251