Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows used in operating activities:    
Net loss $ (147,644) $ (94,606)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation of property and equipment 497 59
Amortization of intangible assets 1,576 902
Upfront license and milestone expense 10,000 0
Share-based compensation expense 22,666 12,309
Other, net 1,005 736
Net changes in operating assets and liabilities    
Accounts receivable (9,815) 0
Inventories (5,366) (471)
Prepaid expenses and other current assets (6,541) (3,725)
Non-current assets 247 0
Right of use assets (43) (5,576)
Accounts payable, accrued and other liabilities 1,149 9,012
Lease liabilities 499 8,298
Net cash used in operating activities (131,770) (73,062)
Cash flows used in investing activities:    
Purchase of investments (342,831) (202,951)
Proceeds from investments 263,752 30,779
Upfront lease payment (11,838) 0
Upfront license payment (6,000) 0
Purchase of long-lived assets (262) (4,095)
Additions to internal use-software implementation costs (1,198) (982)
Capitalized patent costs (6) (83)
Net cash used in investing activities (98,383) (177,332)
Cash flows from financing activities    
Proceeds from exercise of stock options 15,353 5,400
Proceeds from exercise of warrants 37 1
Net proceeds from issuance of common shares 0 187,732
Cash provided by financing activities 15,390 193,133
Net decrease in cash and cash equivalents (214,763) (57,261)
Cash and cash equivalents, beginning of period 272,350 306,019
Cash and cash equivalents, end of period 57,587 248,758
Supplemental cash flow information:    
Cash received for interest 671 891
Cash paid for taxes (236) (62)
Cash paid for amounts included in the measurement of lease liabilities (195) (68)
Supplemental disclosure of noncash transactions    
Initial recognition of operating lease right-of-use asset $ 419 $ 5,804