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Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net loss $ (48,477) $ (164,385)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 1,582 5,020
Amortization of finance lease right-of-use assets 19 657
Net accretion of premium and discount on investments (1,681) (1,815)
Investment income in unconsolidated variable interest entity (1,766) (1,346)
Loss on disposal of property and equipment 306 1
Stock-based compensation 17,350 31,995
Acquired in-process research and development expenses 0 24,636
Non-cash interest expense related to sale of future revenues 0 3,577
Impairment of investment 0 1,000
Realized loss on sales of available-for-sale securities 0 271
Changes in operating assets and liabilities:    
Accounts receivable, net 5,962 (10,007)
Inventories 15,578 (1,951)
Prepaid expenses and other current assets 4,527 4,199
Operating lease right-of-use assets 6,806 5,296
Other assets 441 99
Accounts payable (7,977) (20,784)
Accrued and other liabilities (52,663) (57,016)
Operating lease liabilities, current 1,489 787
Deferred revenue (29,501) (25,555)
Accrued interest expense related to sale of future revenues (1,904) 0
Accrued interest for finance lease liabilities 12 68
Operating lease liabilities, non-current (8,128) (5,666)
Other long-term liabilities (1,132) (1,243)
Net cash used in operating activities (99,157) (212,162)
Investing activities    
Purchases of property and equipment (43) (1,584)
Proceeds from sale of property and equipment 3 0
Purchases of available-for-sale securities (8,628) (104,543)
Cash acquired from consolidation of Fortis 0 656
Proceeds from sales of available-for-sale securities 0 1,730
Proceeds from maturities of investments 132,183 192,938
Net cash provided by investing activities 123,515 89,197
Financing activities    
Proceeds from senior secured term loan facilities, net of issuance costs 0 74,078
Cash paid for transaction costs for senior secured term loan facilities 0 (2,746)
Repayments of finance lease liabilities (20) (207)
Repayments of lease obligations 0 (201)
Cash paid for payroll taxes on restricted stock unit releases (229) 0
Proceeds from issuance of common stock under ATM Program, net of commissions 0 48,407
Proceeds from issuance of common stock under employee stock plans 116 3,686
Net cash provided by (used in) financing activities (133) 123,017
Effect of exchange rate change on cash and cash equivalents 2,801 (3,167)
Net increase (decrease) in cash and cash equivalents 27,026 (3,115)
Total cash and cash equivalents at beginning of period 113,688 155,700
Total cash and cash equivalents at end of period $ 140,714 $ 152,585