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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities      
Net loss $ (528,628) $ (652,172) $ (746,354)
Adjustments to reconcile net loss to net cash used in operating activities:      
Share-based compensation expense 105,945 91,085 70,667
Loss on conversion of debt   32,890 100,589
Loss from remeasurement of development derivative liability     97,675
Loss on disposal of fixed assets 120    
Forfeiture of accrued interest in exchange of convertible notes   1,287 4,171
Depreciation expense 1,784 1,552 1,379
Amortization of right of use assets (80) (65) 113
Amortization of discounts for convertible notes, net of financing costs 297 459 964
Accretion of discount to development liability 25,996 26,917 1,192
Changes in operating assets and liabilities:      
Accounts receivable (198,715) 2,375 (10,103)
Inventory (60,647) (69,397) (16,317)
Prepaid assets (1,870) (11,479) (13,487)
Other current assets 14,243 32,936 (40,928)
Other assets 11,700 17,490 (12,782)
Accounts payable 170 18,689 10,487
Accrued expenses 34,950 (6,312) (10,392)
Net cash used in operating activities (594,735) (513,745) (563,126)
Investing Activities      
Purchase of property and equipment (773) (1,524) (1,103)
Proceeds from sale of fixed assets 99    
Purchase of available-for-sale securities   (331,863) (171,281)
Proceeds from maturity of available-for-sale securities   393,280 420,000
Net cash (used in) provided by investing activities (674) 59,893 247,616
Financing Activities      
Proceeds from issuance of common stock, net of issuance costs   380,120 380,363
Proceeds from issuance of common stock, pre-funded warrant offering, net of issuance costs 384,387    
Payments for development derivative liability     (4,000)
Payments for development liability (55,500) (34,500)  
Proceeds from exercise of stock options 71,274 21,483 14,691
Proceeds from issuance of common stock under employee share purchase plan 5,378 4,238 2,970
Payments of employee tax withholding related to equity-based compensation (11,040) (5,682) (1,788)
Net cash provided by financing activities 394,499 365,659 392,236
Effect of exchange rate changes on cash and cash equivalents 135 (488) (2,016)
Net (decrease) increase in cash and cash equivalents (200,775) (88,681) 74,710
Cash, cash equivalents and restricted cash at beginning of period 553,074 641,755 567,045
Cash, cash equivalents and restricted cash at end of period 352,299 553,074 641,755
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:      
Cash and cash equivalents 351,185 551,801 640,192
Restricted cash 1,114 1,273 1,563
Total cash, cash equivalents, and restricted cash 352,299 553,074 641,755
Supplemental disclosure of cash flow information:      
Cash paid for interest 3,286 5,003 10,265
Cash paid for income taxes   4,915 49
Proceeds from income tax refunds net of income taxes paid $ 1,759    
Convertible Notes exchanged for common stock   $ 98,086 $ 328,017