XML 27 R7.htm IDEA: XBRL DOCUMENT v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net loss $ (66,966) $ (9,058) $ (119,758)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation and amortization 7,540 9,645 11,865
Amortization of premiums and discounts on marketable securities (2,810) (5,004) 403
Share-based compensation 29,439 18,373 20,438
Gain on royalty monetization arrangement 0 (150,930) 0
Gain on sale of MARGENZA (36,250) 0 0
Non-cash interest expense 0 1,430 0
Non-cash lease expense (663) 3,489 3,341
Other non-cash items 2 423 2,882
(Gain) loss on disposal of assets (57) 111 0
Changes in operating assets and liabilities:      
Accounts receivable 6,058 45,855 (45,836)
Inventory (2,188) 230 55
Prepaid expenses and other current assets (1,567) 215 11,009
Other non current assets (170) (7) (14,045)
Accounts payable (1,530) 1,281 (10,860)
Accrued expenses and other current liabilities 5,003 (4,823) (4,638)
Lease liabilities 3,490 (861) 9,364
Deferred revenue (9,414) 11,426 48,821
Other non current liabilities 1,710 0 0
Net cash used in operating activities (68,373) (78,205) (86,959)
Cash flows from investing activities      
Purchases of marketable securities (77,182) (239,683) (120,602)
Proceeds from sales and maturities of marketable securities 190,025 161,299 194,940
Purchases of property, equipment and software (3,706) (1,764) (3,623)
Proceeds from sale of MARGENZA 40,000 0 0
Proceeds from sales of equipment 160 64 0
Net cash provided by (used in) investing activities 149,297 (80,084) 70,715
Cash flows from financing activities      
Proceeds from issuance of common stock, net of offering costs 0 616 1,085
Proceeds from stock option exercises and ESPP purchases 3,435 553 574
Taxes paid related to net share settlement of equity awards (2,475) (306) 0
Principal payments on royalty monetization arrangement 0 (157) 0
Net proceeds from sale of future royalties 0 149,655 0
Net cash provided by financing activities 960 150,361 1,659
Net change in cash and cash equivalents 81,884 (7,928) (14,585)
Cash and cash equivalents at beginning of period 100,956 108,884 123,469
Cash and cash equivalents at end of period 182,840 100,956 108,884
Income Taxes Paid 944 0 0
Non-cash operating and investing activities      
Capital Expenditures Incurred but Not yet Paid $ 100 $ 505 $ 118