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Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net loss $ (164,385) $ (135,829)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 5,020 4,966
Amortization of finance lease right-of-use assets 657 269
Net accretion of premium and discount on investments (1,815) 1,512
Investment income in unconsolidated variable interest entity (1,346) (885)
Loss (gain) on disposal of property and equipment 1 (1)
Stock-based compensation 31,995 33,810
Acquired in-process research and development expenses 24,636 0
Non-cash interest expense related to sale of future revenues 3,577 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 (10,007) (16,200)
Inventories (1,951) (10,858)
Prepaid expenses and other current assets 4,199 11,596
Operating lease right-of-use assets 5,296 6,256
Other assets 99 1,487
Accounts payable (20,784) 4,192
Accrued and other liabilities (57,016) 61,005
Operating lease liabilities, current 787 108
Deferred revenue (25,555) 9,651
Accrued interest for finance lease liabilities 68 14
Operating lease liabilities, non-current (5,666) (5,574)
Other long-term liabilities (1,243) (7,064)
Net cash used in operating activities (212,162) (41,540)
Investing activities    
Purchases of property and equipment (1,584) (2,543)
Payment made for acquired in-process research and development asset 0 (35,000)
Proceeds from sale of property and equipment 0 6
Purchases of available-for-sale securities (104,543) (59,123)
Cash acquired from consolidation of Fortis 656 0
Proceeds from sales of available-for-sale securities 1,730 7,382
Proceeds from maturities of investments 192,938 132,518
Net cash provided by investing activities 89,197 43,240
Financing activities    
Proceeds from senior secured term loan facilities, net of issuance costs 74,078 0
Cash paid for transaction costs for senior secured term loan facilities (2,746) 0
Repayments of finance lease liabilities (207) (23)
Repayments of lease obligations (201) (201)
Cash paid for payroll taxes on restricted stock unit releases 0 (3,361)
Proceeds from issuance of common stock under ATM Program, net of commissions 48,407 0
Proceeds from issuance of common stock under employee stock plans 3,686 2,779
Net cash provided by (used in) financing activities 123,017 (806)
Effect of exchange rate change on cash and cash equivalents (3,167) (4,359)
Net decrease in cash and cash equivalents (3,115) (3,465)
Total cash and cash equivalents at beginning of period 155,700 171,223
Total cash and cash equivalents at end of period $ 152,585 $ 167,758