XML 17 R8.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net loss $ (228,000) $ (227,479)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 7,653 7,503
Amortization of finance lease right-of-use assets 402 411
Net accretion of premium and discount on investments (3,654) 1,842
Investment income in unconsolidated variable interest entity (2,023) (1,293)
Loss (gain) on disposal of property and equipment 1 (3)
Stock-based compensation 41,471 49,377
Acquired In-process Research and Development Expenses 24,636 0
Non-cash interest expense related to sale of future revenues 5,636 0
Dividend received from unconsolidated variable interest entity 2,255 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 (16,283) 983
Inventories (1,519) (11,147)
Prepaid expenses and other current assets (27,393) 8,265
Operating lease right-of-use assets 8,447 7,759
Other assets 962 823
Accounts payable (14,057) (5,120)
Accrued and other liabilities (50,246) 87,167
Operating lease liabilities, current 1,669 715
Deferred revenue (36,930) 4,509
Accrued interest for finance lease liabilities (22) (68)
Operating lease liabilities, non-current (9,447) (7,407)
Other long-term liabilities (1,529) (10,262)
Net cash used in operating activities (296,700) (93,420)
Investing activities    
Purchases of property and equipment (2,268) (3,408)
Payment made for acquired in-process research and development asset 0 (35,000)
Proceeds from sale of property and equipment 0 8
Purchases of available-for-sale securities (157,210) (97,301)
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 300,507 216,342
Net cash provided by investing activities 143,415 88,023
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 (128) (23)
Repayments of lease obligations (302) (302)
Cash paid for payroll taxes on restricted stock unit releases 0 (4,562)
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 2,989
Net cash provided by (used in) financing activities 122,995 (1,898)
Effect of exchange rate change on cash and cash equivalents (4,496) (7,968)
Net decrease in cash and cash equivalents (34,786) (15,263)
Total cash and cash equivalents at beginning of period 155,700 171,223
Total cash and cash equivalents at end of period $ 120,914 $ 155,960