XML 18 R7.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net loss $ (142,732) $ (201,330)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 21,907 24,122
Depreciation and amortization 1,633 1,884
Noncash lease expense 1,032 1,545
Accrual of payment-in-kind interest on term loan 3,339 0
Loss on deconsolidation of PellePharm 1,241 0
Loss (gain) from investment in equity securities, net (964) 12,866
Accretion of debt 2,338 2,483
Fair value adjustment of warrants (111) 852
Loss on sale of certain assets 0 6,261
Impairment of long-lived assets 0 12,653
Gain from recognition of receivable from licensing and collaboration agreement 0 (12,500)
Other noncash adjustments (203) 604
Changes in operating assets and liabilities:    
Receivable from licensing and collaboration agreements 6,318 10,266
Prepaid expenses and other current assets (3,542) (2,657)
Other assets (483) 7,901
Accounts payable (3,800) (1,814)
Accrued compensation and benefits (18,369) (16,876)
Accrued research and development liabilities (2,556) (818)
Accrued professional services 2,225 (1,374)
Operating lease liabilities (1,250) (1,820)
Deferred revenue (1,748) 0
Other accrued and other long-term liabilities (8,597) (2,883)
Net cash used in operating activities (144,322) (160,635)
Investing activities:    
Purchases of marketable securities 0 (55,722)
Maturities of marketable securities 18,000 186,695
Purchases of investment in equity securities (47,474) (8,162)
Sales of investment in equity securities 42,287 6,671
Decrease in cash and cash equivalents resulting from deconsolidation of PellePharm (503)  
Proceeds from sale of certain assets 0 10,000
Purchases of property and equipment (12) (859)
Net cash provided by investing activities 12,298 138,623
Financing activities:    
Proceeds from issuance of common stock through Follow-on offering, net 143,016 0
Proceeds from BridgeBio common stock issuances under ESPP 1,809 966
Repurchase of shares to satisfy tax withholding (512) (110)
Issuance costs associated with term loan 0 (1,120)
Proceeds from stock option exercises, net of repurchases 193 104
Other financing activities 5,743 0
Net cash provided by (used in) financing activities 150,249 (160)
Net increase (decrease) in cash, cash equivalents and restricted cash 18,225 (22,172)
Cash, cash equivalents and restricted cash at beginning of period 416,884 396,365
Cash, cash equivalents and restricted cash at end of period 435,109 374,193
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 22,059 18,809
Supplemental Disclosures of Noncash Investing and Financing Information:    
Payment-in-kind interest added to principal of term loan 0 1,763
Unpaid property and equipment 96 750
Transfers from noncontrolling interests (Note 5) (2,843) (317)
Reconciliation of Cash, Cash Equivalents and Restricted Cash:    
Cash and cash equivalents 407,368 371,550
Restricted cash 25,503 0
Restricted cash - Included in "Prepaid expenses and other current assets" 0 177
Restricted cash - Included in "Other assets" 2,238 2,466
Total cash, cash equivalents and restricted cash at end of period shown in the condensed consolidated statements of cash flows $ 435,109 $ 374,193