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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net loss $ (61,286) $ (215,975) $ (167,870)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation 66,421 68,201 63,615
Amortization of premiums and accretion of discounts on investment securities (7,533) (2,736) 2,404
Amortization of intangible assets 4,093 0 1,108
Gain on strategic investment (5,109) (3,542) (2,329)
Depreciation 1,459 2,026 2,236
Loss on sale of investment securities 524 0 0
Changes in operating assets and liabilities:      
Accounts receivable, net (36,072) 2,171 (16,119)
Interest and other receivables (3,198) 93 1,057
Inventory (28,808) 2,415 (4,210)
Prepaid expenses and other current assets (17,693) 2,494 1,802
Operating lease right-of-use assets 5,769 6,566 6,287
Other assets (33) (48) 10
Accounts payable 4,797 5,870 (1,617)
Accrued liabilities 93,170 24,306 (8,455)
Operating lease liabilities (5,872) (7,916) (5,433)
Long-term liabilities 6,073 2,040 1,854
Net cash provided by (used in) operating activities 16,702 (114,035) (125,660)
Cash flows from investing activities      
Purchases of investment securities (369,985) (363,174) (492,797)
Sale and maturity of investment securities 429,780 436,415 422,817
Proceeds from sales of strategic investment 12,253 0 0
Net purchases of property and equipment (50) 0 (1,122)
Intangible assets (40,000) 0 0
Net cash provided by (used in) investing activities 31,998 73,241 (71,102)
Cash flows from financing activities      
Proceeds from issuance of common stock, net of issuance costs 25,129 8,199 18,162
Net cash provided by financing activities 25,129 8,199 18,162
Effect of exchange rate changes on cash (18) 6 7
Net increase (decrease) in cash, cash equivalents and restricted cash 73,811 (32,589) (178,593)
Cash, cash equivalents and restricted cash      
Beginning of period 120,616 153,205 331,798
End of period 194,427 120,616 153,205
Supplemental disclosure of cash flow information:      
Cash paid for income taxes 5,850 2,190 1,038
Supplemental disclosure of noncash information:      
Accrued milestone and contingent payments in connection with asset acquisition $ 29,583 $ 0 $ 0