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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:      
Net loss $ (20,452) $ (85,838) $ (50,363)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization   2,223 2,291
Amortization and premium of marketable securities, net   1,366 (3,407)
Loss (gain) on sale or disposal of assets   1 (23)
Intangible asset impairment 3,500   3,500
Gain on fair value remeasurement of contingent consideration (1,901) (6,862) (1,160)
Non-cash income tax benefit (227)   (227)
Stock-based compensation expense   11,103 5,813
Changes in operating assets and liabilities:      
Accounts and other receivables   (17) 1,549
Prepaid and other current assets   (7,928) (2,261)
Accounts payable and accrued expenses   720 1,757
Other liabilities   3,262 (3,855)
Net cash used in operating activities   (81,970) (46,386)
Cash flows from investing activities:      
Sales and maturities of marketable securities   192,866 129,000
Purchases of marketable securities   (132,613) (325,342)
Acquisition of property and equipment   (1,593) (895)
Proceeds from sale or disposal of assets   69 25
Net cash provided by (used in) investing activities   58,729 (197,212)
Cash flows from financing activities:      
Net proceeds from stock issuances     269,893
Proceeds from issuance of stock from employee benefit plans   2,681 2,053
Net cash provided by financing activities   2,681 271,946
Net (decrease) increase in cash and cash equivalents   (20,560) 28,348
Cash and cash equivalents at beginning of period   39,143 43,836
Cash and cash equivalents at end of period $ 72,184 18,583 72,184
Non-cash investing activities      
Accrued construction in progress   $ 38 $ 46