XML 28 R9.htm IDEA: XBRL DOCUMENT v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net loss $ (80,870) $ (52,625)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 11,790 7,741
Depreciation and amortization 1,711 533
Net amortization of premiums and discounts on short-term investments 1,376 (945)
Noncash interest expense 181 156
Loss on extinguishment of debt 913  
Changes in operating assets and liabilities:    
Research and development incentives receivable 325 (628)
Prepaid expenses and other current assets (1,707) 933
Operating lease, right-of-use-asset 447 588
Finance lease, right-of-use-asset 2,403 1,274
Long term prepaid rent   (15,787)
Accounts payable (1,031) (3,821)
Accrued expenses and other current liabilities 3,413 2,479
Operating lease liabilities (340) (450)
Net cash used in operating activities (61,389) (60,552)
Cash flows from investing activities:    
Purchases of property, plant and equipment (2,392) (6,540)
Purchase of short-term investments (392,434) (149,682)
Proceed from sales and maturities of short-term investments 206,050 150,989
Net cash (used in) investing activities (188,776) (5,233)
Cash flows from financing activities:    
Proceeds from issuance of common stock in follow-on public offering, net of underwriting fees and discounts 286,107 57,453
Proceeds from issuance of prefunded warrants to purchase common stock, net of underwriting fees and discounts 91,650 28,145
Proceeds from issuance of common stock through ATM sales   4,431
Proceeds from long-term debt   10,000
Exercise of stock options 5,745 551
Payment of debt issuance costs (100) (355)
Principal payment of finance lease obligation (145) (59)
Principal payment of long-term debt (10,000)  
Payment of long-term debt extinguishment costs (795)  
Net cash provided by financing activities 372,462 100,166
Effect of exchange rate changes on cash, cash equivalents and restricted cash 721 (135)
Net increase (decrease) in cash, cash equivalents and restricted cash 123,018 34,246
Cash, cash equivalents and restricted cash at beginning of period 61,136 26,890
Cash, cash equivalents and restricted cash at end of period 184,154 61,136
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 636 578
Supplemental disclosure of non-cash investing and financing activities:    
Net unrealized (loss) gain on short-term investments (278) 309
Purchases of property and equipment included in accounts payable 98 209
Lease assets obtained in exchange for new financing lease liabilities   48,224
Lease assets obtained in exchange for new operating lease liabilities $ 1,580 5,152
Adjustment for non-cash lease termination   $ 177