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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (36,802) $ (137,018)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash royalty revenue related to the sales of future royalties (15,508) (16,861)
Non-cash interest expense on liabilities related to the sales of future royalties 5,531 6,405
Stock-based compensation 6,000 10,019
Depreciation and amortization 1,607 2,302
Deferred income tax expense (38) (1,812)
Impairment of right-of-use assets and property, plant and equipment 0 13,200
Impairment of goodwill 0 76,501
Provision for net realizable value of inventory 1,006 952
Amortization of premiums (discounts), net and other non-cash transactions (3,063) (3,129)
Changes in operating assets and liabilities:    
Accounts receivable (2,412) 2,986
Inventory (1,143) (1,985)
Operating leases, net (2,958) (1,786)
Other assets (976) 5,591
Accounts payable (988) (8,920)
Accrued expenses 1,856 1,640
Net cash used in operating activities (47,888) (51,915)
Cash flows from investing activities:    
Purchases of investments (105,059) (107,012)
Maturities of investments 124,474 148,043
Purchases of property, plant and equipment (157) (433)
Net cash provided by investing activities 19,258 40,598
Cash flows from financing activities:    
Proceeds from shares issued under equity compensation plans 3 0
Proceeds from issuance of pre-funded warrant 30,000 0
Proceeds from sale of future royalties 15,000 0
Repurchase of common stock from Bristol-Myers Squibb (3,000) 0
Net cash provided by financing activities 42,003 0
Effect of foreign exchange rates on cash and cash equivalents (8) 45
Net increase (decrease) in cash and cash equivalents 13,365 (11,272)
Cash and cash equivalents at beginning of period 35,277 88,227
Cash and cash equivalents at end of period $ 48,642 $ 76,955