XML 18 R5.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ (175,575) $ (166,283)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,041 606
Stock-based compensation expense 29,419 26,140
Non-cash interest expense on royalty financing obligations and secured term loan and amortization of debt issuance costs 55,119 36,440
Amortization of premium/discount on investments (818) 35
Changes in operating assets and liabilities:    
Receivables (13,827) (17,579)
Inventory (11,263) (6,630)
Prepaid expenses and other assets (1,132) (3,460)
Accounts payable and accrued expenses (27,639) 16,692
Interest payable 6,345 3,884
Deferred revenue 329 457
Net cash used in operating activities (138,001) (109,698)
Cash flows from investing activities:    
Acquisitions of property and equipment (825) (1,277)
Purchase of investments (244,283) 0
Sales and maturities of investments 39,655 28,201
Net cash (used in) provided by investing activities (205,453) 26,924
Cash flows from financing activities:    
Net proceeds from common stock issued under stock-based compensation plans 10,756 12,250
Net proceeds from secured term loans 73,072 0
Net cash provided by financing activities 83,828 12,250
Effect of exchange rate on cash, cash equivalents, and restricted cash 235 69
Decrease in cash, cash equivalents and restricted cash (259,391) (70,455)
Cash, cash equivalents and restricted cash at beginning of period 507,734 274,348
Cash, cash equivalents and restricted cash at end of period $ 248,343 $ 203,893