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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net loss $ (120,247) $ (113,629)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 21,268 22,727
Depreciation and amortization 1,392 1,473
Amortization of debt discount   785
Amortization of debt issuance costs 100  
Amortization of premium on short-term investments 93 178
Impairment of property and equipment 88 190
Loss on disposal of property and equipment 96  
Change in operating assets and liabilities:    
Accounts receivable (4,804) (765)
Inventory (12,936) (895)
Prepaid expenses and other assets 4,098 (1,783)
Accounts payable 10,001 10,717
Accrued clinical and manufacturing liabilities 19,954 (26,055)
Accrued payroll and employee liabilities 1,060 84
Other accrued and other non-current liabilities 7,525 2,043
Net cash used in operating activities (72,312) (104,930)
Investing activities:    
Purchases of short-term investments (58,945) (62,046)
Maturities and sales of short-term investments 90,957 98,500
Purchases of property and equipment (1,366) (1,101)
Proceeds from the sale of property and equipment 56  
Net cash provided by investing activities 30,702 35,353
Financing activities:    
Net proceeds from convertible note financing   148,982
Net proceeds from issuance of common stock under equity incentive plan (1,094) 5,101
Proceeds from purchases under the employee stock purchase plan 772 1,529
Net cash (used in) provided by financing activities (322) 155,612
Net (decrease) increase in cash and cash equivalents (41,932) 86,035
Cash and cash equivalents at beginning of year 90,541 105,138
Cash and cash equivalents at end of period 48,609 $ 191,173
Supplemental disclosure of cash flow information:    
Interest paid $ 1,125