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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net loss $ (52,190) $ (38,009)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 1,841 2,983
Amortization of premiums and discounts on marketable securities (1,315) (372)
Stock-based compensation 5,553 4,833
Non-cash interest expense recognized 0 656
Operating Lease, Noncash Expense 617 941
Other non-cash items 0 (90)
Changes in operating assets and liabilities:    
Accounts receivable 3,148 20,062
Inventory (27) 42
Prepaid expenses and other current assets 75 443
Other non current assets 201 0
Accounts payable 4,179 (1,148)
Accrued expenses and other current liabilities (5,891) (677)
Lease liabilities 41 (284)
Deferred revenue (1,875) (2,213)
Net cash used in operating activities (45,643) (12,833)
Cash flows from investing activities    
Purchases of marketable securities (50,497) (17,296)
Proceeds from sale and maturities of marketable securities 76,750 45,750
Purchases of property, equipment and software (1,459) (359)
Net cash provided by investing activities 24,794 28,095
Cash flows from financing activities    
Proceeds from issuance of common stock, net of offering costs 0 616
Proceeds from stock option exercises and ESPP purchases 2,639 5
Taxes paid related to net share settlement of equity awards (2,391) (158)
Net proceeds from sale of future royalties 0 99,655
Net cash provided by financing activities 248 100,118
Net change in cash and cash equivalents (20,601) 115,380
Cash and cash equivalents at beginning of period 100,956 108,884
Cash and cash equivalents at end of period 80,355 224,264
Supplemental Cash Flow Information    
Property, equipment and software included in accounts payable or accruals $ 242 $ 177