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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (50,363) $ (37,880)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,291 3,174
Amortization and premium of marketable securities, net (3,407) (422)
Gain on sale or disposal of assets (23) (29)
Intangible Asset Impairment 3,500 3,500
Gain on fair value remeasurement of contingent consideration (1,160) (4,236)
Non-Cash Income Tax Benefit (227) (228)
Stock-based compensation expense 5,813 2,658
Changes in operating assets and liabilities:    
Accounts and other receivables 1,549 177
Prepaid and other current assets (2,261) (1,280)
Accounts payable and accrued expenses 1,757 864
Other liabilities (3,855) (1,491)
Net cash used in operating activities (46,386) (35,193)
Cash flows from investing activities:    
Sales and maturities of marketable securities 129,000 55,600
Purchases of marketable securities (325,342) (183,394)
Acquisition of property and equipment (895) (1,305)
Proceeds from sale or disposal of assets 25 29
Net cash used in investing activities (197,212) (129,070)
Cash flows from financing activities:    
Net proceeds from stock issuances 269,893 170,964
Proceeds from issuance of stock from employee benefit plans 2,053 218
Issuance of Term Loan   2,962
Payment of Term Loan   (2,962)
Net cash provided by financing activities 271,946 171,182
Net increase in cash and cash equivalents 28,348 6,919
Cash and cash equivalents at beginning of period 43,836 11,232
Cash and cash equivalents at end of period 72,184 18,151
Non-cash investing activities    
Accrued construction in progress $ 46 $ 63