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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net loss $ (184,062) $ (182,814) $ (108,897)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 777 748 724
Stock-based compensation expense 34,640 14,794 17,719
Non-cash interest expense on royalty financing obligations and secured term loan and amortization of debt issuance costs 54,204 3,325 1,278
Amortization of premium/discount on investments (2) 121 117
Change in fair value of foreign currency derivative   632 347
(Gain) loss on extinguishment of debt (55,838) 2,011  
(Gain) loss on extinguishment of debt   1,211  
Changes in operating assets and liabilities:      
Receivables (20,817) 13,903 (17,853)
Inventory (8,767) (7,039) 1,649
Prepaid expenses and other assets (7,155) (2,140) (1,364)
Accounts payable and accrued expenses 39,412 17,355 11,741
Interest payable 4,168 6,766 3,056
Deferred revenue 1,283 (1,970) 1,899
Net cash used in operating activities (142,157) (135,108) (89,584)
Cash flows from investing activities:      
Acquisition of property and equipment (2,385) (514) (343)
Purchases of investments (10,012) (49,818) (3,018)
Sales and maturities of investments 28,201 43,476 81,295
Net cash provided by (used in) investing activities 15,804 (6,856) 77,934
Cash flows from financing activities:      
Sale of common stock, net 50,000 93,279 58,500
Sale of pre-funded warrants   14,817 19,882
Net proceeds from common stock issued under stock-based compensation plans 15,794 2,446 1,239
Proceeds from senior credit facility     19,477
Payment of senior credit facility   (52,420)  
Net proceeds from secured term loan   119,867  
Net proceeds from royalty financing obligations 293,874 122,600  
Net cash provided by financing activities 359,668 300,589 99,098
Effects of exchange rates on cash, cash equivalents and restricted cash 71    
Increase in cash, cash equivalents and restricted cash 233,386 158,625 87,448
Cash, cash equivalents and restricted cash at beginning of year 274,348 115,723 28,275
Cash, cash equivalents and restricted cash at end of year $ 507,734 $ 274,348 $ 115,723