XML 19 R5.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (74,196) $ (64,284)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 317 178
Stock-based compensation expense 9,601 5,479
Non-cash interest expense on royalty financing obligations and secured term loan and amortization of debt issuance costs 19,003 11,027
Amortization of premium/discount on investments 30 14
Changes in operating assets and liabilities:    
Receivables (7,048) (261)
Inventory (354) 1,927
Prepaid expenses and other assets (2,320) (9,850)
Accounts payable and accrued expenses (22,908) (7,373)
Interest payable 0 1,877
Deferred revenue 75 255
Net cash used in operating activities (77,800) (61,011)
Cash flows from investing activities:    
Acquisitions of property and equipment (406) (99)
Purchase of investments (38,066) 0
Sales and maturities of investments 0 14,771
Realized gain on investments 0 1
Net cash (used in) provided by investing activities (38,472) 14,673
Cash flows from financing activities:    
Net proceeds from common stock issued under stock-based compensation plans 7,356 2,900
Net cash provided by financing activities 7,356 2,900
Effect of exchange rate on cash, cash equivalents, and restricted cash 40 0
Decrease in cash, cash equivalents and restricted cash (108,876) (43,438)
Cash, cash equivalents and restricted cash at beginning of period 507,734 274,348
Cash, cash equivalents and restricted cash at end of period $ 398,858 $ 230,910