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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net loss $ (161,525) $ (440,052)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 87,814 79,726
Loss on extinguishment of development liability 1,949  
Loss on disposal of fixed assets   152
Depreciation expense 1,350 1,308
Amortization of discounts for credit facility 742  
Amortization of discounts for convertible notes 230 222
Accretion of discount to development liability 8,936 19,491
Changes in operating assets and liabilities:    
Accounts receivable (72,569) (161,542)
Inventory (20,776) (12,831)
Prepaid assets 15,022 (7,681)
Other current assets 10,651 5,981
Other assets (81) 14,811
Right-of-use assets and lease liabilities (7) (94)
Accounts payable (399) (19,450)
Accrued expenses and other liabilities 19,534 23,099
Deferred revenue 1,903  
Net cash used in operating activities (107,226) (496,860)
Investing Activities    
Purchase of property and equipment (383) (678)
Net cash used in investing activities (383) (678)
Financing Activities    
Proceeds from credit facility 365,454  
Payment of issuance cost for credit facility (1,589)  
Repayment of development liability (326,533)  
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
Payments for development liability   (24,500)
Proceeds from exercise of stock options 13,995 45,809
Proceeds from issuance of common stock under employee share purchase plan 3,193 3,754
Payments of employee tax withholding related to equity-based compensation (42) (11,038)
Net cash provided by financing activities 153,241 398,412
Effect of exchange rate changes on cash, cash equivalents and restricted cash 306 (449)
Net increase (decrease) in cash, cash equivalents and restricted cash 45,938 (99,575)
Cash, cash equivalents and restricted cash at beginning of period 352,299 553,075
Cash, cash equivalents and restricted cash at end of period 398,237 453,500
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:    
Cash and cash equivalents 396,864 452,414
Restricted cash 1,373 1,086
Total cash, cash equivalents, and restricted cash 398,237 453,500
Supplemental Disclosures    
Cash paid for interest 19,446 3,286
Cash paid for income taxes 600 $ 578
Issuance costs for credit facility incurred but not yet paid $ 5,625