v3.23.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities    
Net loss $ (177,778) $ (138,935)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 28,823 20,773
Loss on disposal of fixed assets 19  
Amortization of right-of-use assets (22) (17)
Depreciation expense 421 377
Amortization of discounts for convertible notes, net of financing costs 73 144
Accretion of discount to development liability 6,633 6,713
Other liabilities   1,208
Changes in operating assets and liabilities:    
Accounts receivable (23,778) 3,773
Inventory 144 (16,533)
Prepaid assets (107) 334
Other current assets 2,308 (2,312)
Other assets 14,969 15,634
Accounts payable (5,854) (6,371)
Accrued expenses (23,471) 3,652
Net cash used in operating activities (177,620) (111,560)
Investing Activities    
Purchase of property and equipment (259) (86)
Purchase of available-for-sale securities   (331,863)
Proceeds from maturity of available-for-sale securities   60,000
Net cash (used in) provided by investing activities (259) (271,949)
Financing Activities    
Proceeds from issuance of common stock, net of issuance costs   380,120
Proceeds from issuance of common stock and pre-funded warrant offering, net of issuance costs 384,387  
Payments for development liability   (5,000)
Proceeds from exercise of stock options 17,718 4,000
Payments of employee tax withholding related to equity-based compensation (10,999) (2,416)
Net cash provided by financing activities 391,106 376,704
Effect of exchange rate changes on cash, cash equivalents and restricted cash 56 64
Net increase (decrease) in cash, cash equivalents and restricted cash 213,283 (6,741)
Cash, cash equivalents and restricted cash at beginning of period 553,075 641,755
Cash, cash equivalents and restricted cash at end of period 766,358 635,014
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:    
Cash and cash equivalents 765,083 633,456
Restricted cash 1,275 1,558
Total cash, cash equivalents, and restricted cash 766,358 635,014
Supplemental Disclosure of Financing Activities    
Cash paid for interest 1,643 $ 3,360
Cash paid for income taxes $ 250