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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 $ (112,325) $ (70,511) $ (59,780)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 2,896 3,068 3,929
Amortization and premium of marketable securities, net 844 (3,209) (729)
Loss (gain) on sale or disposal of assets 2 (24) (55)
Intangible asset impairment   3,500 18,000
Gain on fair value remeasurement of contingent consideration (6,862) (1,405) (4,218)
Non-cash income tax benefit   (227) (1,167)
Stock-based compensation expense 15,611 8,953 3,915
Changes in operating assets and liabilities:      
Accounts and other receivables (175) 1,574 (787)
Prepaid and other current assets (9,572) (1,871) (334)
Other assets   (5)  
Accounts payable and accrued expenses 3,123 3,653 1,638
Other liabilities 2,726 (4,405) (816)
Net cash used in operating activities (103,732) (60,909) (40,404)
Cash flows from investing activities:      
Sales and maturities of marketable securities 280,666 174,947 123,600
Purchases of marketable securities (188,965) (389,881) (220,321)
Acquisition of property and equipment (1,828) (1,249) (1,552)
Proceeds from sale or disposal of assets 69 27 55
Net cash provided by (used in) investing activities 89,942 (216,156) (98,218)
Cash flows from financing activities:      
Net proceeds from stock issuances   269,893 170,792
Proceeds from issuance of stock from employee benefit plans 4,076 2,479 434
Issuance of term loan     2,962
Payment of term loan     (2,962)
Net cash provided by financing activities 4,076 272,372 171,226
Net (decrease) increase in cash and cash equivalents (9,714) (4,693) 32,604
Cash and cash equivalents at beginning of period 39,143 43,836 11,232
Cash and cash equivalents at end of period 29,429 39,143 43,836
Non-cash investing activities      
Accrued construction in progress $ 113 $ 289 $ 221