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Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net loss $ (76,705) $ (63,205)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 2,542 2,450
Amortization of finance lease right-of-use assets 423 134
Net accretion of premium and discount on investments (689) 928
Investment income in unconsolidated variable interest entity (796) (320)
Loss on disposal of property and equipment 1 5
Stock-based compensation 16,112 17,152
Non-cash interest expense related to sale of future revenues 2,249 0
Impairment of investment 1,000 0
Realized loss on sales of available-for-sale securities 271 5
Changes in operating assets and liabilities:    
Accounts receivable, net (1,299) (26,481)
Inventories (1,940) (12,000)
Prepaid expenses and other current assets 38 11,382
Operating lease right-of-use assets 3,237 3,132
Other assets 1,072 (459)
Accounts payable 40,473 10,207
Accrued and other liabilities (66,266) 65,993
Operating lease liabilities, current (371) 31
Deferred revenue (18,877) (13,024)
Accrued interest for finance lease liabilities (56) (21)
Operating lease liabilities, non-current (2,720) (2,835)
Other long-term liabilities 710 (1,550)
Net cash used in operating activities (101,591) (8,476)
Investing activities    
Purchases of property and equipment (591) (1,638)
Payment made for acquired in-process research and development asset 0 (35,000)
Purchases of available-for-sale securities (2,472) (20,912)
Proceeds from sales of available-for-sale securities 1,730 7,382
Proceeds from maturities of investments 104,815 76,103
Net cash provided by investing activities 103,482 25,935
Financing activities    
Repayments of finance lease liabilities (71) (1)
Repayments of lease obligations (101) (101)
Cash paid for payroll taxes on restricted stock unit releases 0 (2,974)
Proceeds from issuance of common stock under ATM Program, net of commissions 30,750 0
Proceeds from issuance of common stock under employee stock plans 907 183
Net cash provided by (used in) financing activities 31,485 (2,893)
Effect of exchange rate change on cash and cash equivalents (526) 107
Net increase in cash and cash equivalents 32,850 14,673
Total cash and cash equivalents at beginning of period 155,700 171,223
Total cash and cash equivalents at end of period $ 188,550 $ 185,896