XML 13 R6.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net loss $ (66,423) $ (177,778)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 30,349 28,823
Loss on disposal of fixed assets   19
Depreciation expense 444 421
Amortization of discounts for convertible notes 76 73
Accretion of discount to development liability 6,066 6,633
Changes in operating assets and liabilities:    
Accounts receivable (61,415) (23,778)
Inventory (14,921) 144
Prepaid assets (4,338) (107)
Other current assets 10,697 2,308
Other assets 98 14,969
Accounts payable (10,730) (5,854)
Accrued expenses (26,330) (23,471)
Deferred revenue 3,560  
Net cash used in operating activities (132,983) (177,620)
Investing Activities    
Purchase of property and equipment (293) (259)
Net cash used in investing activities (293) (259)
Financing Activities    
Proceeds from settlement of capped call 98,763  
Proceeds from issuance of common stock and pre-funded warrant offering, net of issuance costs   384,387
Proceeds from exercise of stock options 9,477 17,718
Payments of employee tax withholding related to equity-based compensation (28) (10,999)
Net cash provided by financing activities 108,212 391,106
Effect of exchange rate changes on cash, cash equivalents and restricted cash (209) 56
Net (decrease) increase in cash, cash equivalents and restricted cash (25,273) 213,283
Cash, cash equivalents and restricted cash at beginning of period 352,299 553,075
Cash, cash equivalents and restricted cash at end of period 327,026 766,358
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:    
Cash and cash equivalents 325,923 765,083
Restricted cash 1,103 1,275
Total cash, cash equivalents, and restricted cash 327,026 766,358
Supplemental Disclosure of Financing Activities    
Cash paid for interest 1,643 1,643
Cash paid for income taxes   $ 250
Proceeds from income tax refunds net of income taxes paid $ 257