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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net loss $ (237,892) $ (291,754) $ (287,100)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 3,791 3,699 3,454
Stock-based compensation expense 43,110 50,737 51,364
Write-off of prepaid manufacturing services related to the termination of CHS-2020     3,210
Inventory write-downs, net 52,595 26,000 5,133
Non-cash amortization of premium (accretion of discount) on marketable securities, net (3,052) (730) 1,095
Non-cash interest expense from amortization of debt discount and issuance costs 2,407 6,431 4,257
Non-cash operating lease expense 2,476 2,503 2,207
Upfront and option payments to Junshi Biosciences   35,000 136,000
Loss on debt extinguishment   6,222  
Other non-cash adjustments, net (1,493) 25 588
Changes in operating assets and liabilities:      
Trade receivables, net (150,683) 13,052 34,062
Inventory (46,734) (47,348) (6,253)
Prepaid manufacturing 2,027 (4,214) 3,828
Other prepaid, current and non-current assets 16,155 (13,424) (5,351)
Accounts payable 23,760 (4,548) 874
Accrued rebates, fees and reserves 113,105 (24,566) (2,502)
Accrued compensation (5,373) 596 (230)
Accrued and other current and non-current liabilities 10,917 1,195 17,932
Net cash used in operating activities (174,884) (241,124) (37,432)
Investing activities      
Purchases of property and equipment (286) (2,039) (1,289)
Proceeds from disposal of property and equipment 845    
Purchases of investments in marketable securities (19,507) (127,382) (182,485)
Proceeds from maturities of investments in marketable securities 144,360   99,692
Proceeds from sale of investments in marketable securities 13,282   81,672
Cash and cash equivalents acquired from Surface Acquisition 6,997    
Upfront and option payments to Junshi Biosciences   (35,000) (136,000)
Milestone based license fee payments (1,051) (2,429)  
Net cash provided by (used in) investing activities 144,640 (166,850) (138,410)
Financing activities      
Proceeds from 2027 Term Loans, net of debt discount & issuance costs   240,679  
Proceeds from issuance of common stock upon exercise of stock options 694 691 10,399
Proceeds from purchase under the employee stock purchase plan 1,809 2,320 3,002
Taxes paid related to net share settlement (3,587) (3,744) (1,753)
Repayment of 2022 Convertible Notes and premiums   (109,000)  
Repayment of 2025 Term Loan, premiums and exit fees   (81,750)  
Other financing activities (1,034) (1,228) (672)
Net cash provided by financing activities 69,600 54,326 51,879
Net increase (decrease) in cash, cash equivalents and restricted cash 39,356 (353,648) (123,963)
Cash, cash equivalents and restricted cash at beginning of period 63,987 417,635 541,598
Cash, cash equivalents and restricted cash at end of period 103,343 63,987 417,635
Supplemental disclosure of cash flow information      
Cash paid for interest 37,857 34,878 18,684
Income taxes paid (refunded), net (118) 40 1,221
At The Market Offering.      
Financing activities      
Proceeds from issuance of common stock, net of issuance costs 18,093 $ 6,358  
Public Offering      
Financing activities      
Proceeds from issuance of common stock, net of issuance costs $ 53,625    
Junshi Biosciences      
Financing activities      
Proceeds from issuance of common stock, net of issuance costs     $ 40,903