Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows used in operating activities:    
Net loss $ (82,134) $ (147,644)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 2,487 2,030
Upfront license and milestone expense 0 10,000
Share-based compensation expense 25,398 22,666
Inventory write-down 2,464 0
Other, net 587 1,005
Net changes in operating assets and liabilities    
Accounts receivable (26,356) (9,815)
Inventories, net (8,458) (5,366)
Prepaid expenses and other current assets (3,461) (6,541)
Non-current assets (830) 247
Accounts payable, accrued and other liabilities 875 1,149
Lease liabilities (551) 499
Net cash used in operating activities (89,979) (131,770)
Cash flows used in investing activities:    
Purchase of investments (403,184) (342,831)
Proceeds from investments 346,109 263,752
Upfront lease payment (381) (11,838)
Upfront license payment 0 (6,000)
Purchase of non-current assets (158) (268)
Additions to internal use-software implementation costs 0 (1,198)
Net cash used in investing activities (57,614) (98,383)
Cash flows from financing activities    
Proceeds from exercise of stock options and employee share purchase plan 1,745 15,353
Proceeds from exercise of warrants 0 37
Cash provided by financing activities 1,745 15,390
Net decrease in cash, cash equivalents and restricted cash (145,848) (214,763)
Cash, cash equivalents and restricted cash, beginning of period 231,900 272,350
Cash, cash equivalents and restricted cash, end of period 86,052 57,587
Supplemental cash flow information    
Cash received for interest 1,705 671
Cash paid for taxes (779) (236)
Cash paid for amounts included in the measurement of lease liabilities (897) (195)
Supplemental disclosure of noncash transactions    
Initial recognition of operating lease right-of-use asset 0 419
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets    
Cash, cash equivalents 85,341 57,587
Restricted cash 711 0
Total cash, cash equivalents and restricted cash $ 86,052 $ 57,587