XML 76 R9.htm IDEA: XBRL DOCUMENT v3.24.0.1
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 $ (160,276) $ (137,464) $ (77,329)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 1,766 1,493 815
Amortization of debt discount and debt issuance costs 2,796 6,052 1,248
Changes in deferred taxes 0 26,025 (15,666)
Share-based compensation expense 15,811 7,013 8,872
Loss on extinguishment of debt 13,129 0 0
Other adjustments 1,262 2,042 1,055
Net changes in assets and liabilities      
Accounts receivable (12,103) 0 0
Inventories (9,532) 0 0
Prepaid expenses and other current assets (3,127) 30,815 (439)
Research and development tax credit receivable 1,884 30 2,796
Accounts payable & other current liabilities 1,545 (3,108) 4,232
Accrued expenses 16,892 227 895
Other assets and liabilities 1,442 (3,429) (3,789)
Net cash used in operating activities (128,511) (70,304) (77,310)
Cash flows from investing activities:      
Purchases of property and equipment 0 (716) (26)
Proceeds from the disposition of the Hospital Products 0 0 16,500
Proceeds from sales of marketable securities 187,136 83,828 102,224
Purchases of marketable securities (237,229) (3,414) (61,769)
Net cash (used in) provided by investing activities (50,093) 79,698 56,929
Cash flows from financing activities:      
Payments for debt issuance costs (4,357) (4,804) 0
Proceeds from royalty purchase agreement 30,000 0 0
Proceeds from stock option exercises and employee share purchase plan 2,293 2,682 263
Net cash provided by financing activities 135,335 14,543 263
Effect of foreign currency exchange rate changes on cash and cash equivalents 455 (664) (896)
Net change in cash and cash equivalents (42,814) 23,273 (21,014)
Cash and cash equivalents at January 1 73,981 50,708 71,722
Cash and cash equivalents at December 31 31,167 73,981 50,708
Supplemental disclosures of cash flow information:      
Interest paid 5,250 9,660 6,469
Income taxes (refunded) paid, net 0 (29,058) 76
February 2023 Notes      
Cash flows from financing activities:      
Payments for Notes (17,500) (8,653) 0
October 2023 Notes      
Cash flows from financing activities:      
Payments for Notes (21,165) 0 0
Public offering      
Cash flows from financing activities:      
Proceeds from issuance of shares, net of issue costs 134,151 0 0
At-the-market offering program      
Cash flows from financing activities:      
Proceeds from issuance of shares, net of issue costs $ 11,913 $ 25,318 $ 0