v3.24.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (123,447) $ (121,408)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 461 487
Stock-based compensation 25,864 25,094
Accretion/amortization of investments, net (8,011) (7,367)
Amortization of right-of-use assets – operating 1,335 1,285
Non-cash interest expense 32,683 13,125
Changes in operating assets and liabilities:    
Receivables from collaborative partners (5,344) (1,850)
Prepaid expenses and other assets 2,904 (7,037)
Accounts payable and other liabilities 6,210 12,436
Operating lease liabilities (1,320) (1,216)
Net cash used in operating activities (68,665) (86,451)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of investments (259,494) (237,612)
Sales and maturities of investments 384,383 333,715
Purchases of property and equipment (95) (527)
Net cash provided by investing activities 124,794 95,576
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from public offerings, net of underwriters’ fees 94,369 0
Proceeds from issuance of common stock 5,918 2,208
Repurchase and retirements of common stock 0 (50,000)
Proceeds from the sale of future royalties 50,000 0
Payment for net share settlement of equity awards (7,504) 0
Repayment of liability for sale of future royalties (42,823) (6,303)
Payments for offering costs (370) 0
Payments for debt issuance costs (103) (43)
Net cash provided by (used in) financing activities 99,487 (54,138)
Net increase (decrease) in cash and cash equivalents 155,616 (45,013)
Cash and cash equivalents, beginning of period 35,965 71,308
Cash and cash equivalents, end of period 191,581 26,295
Non-cash investing and financing activities:    
Amounts accrued for property and equipment 4 279
Amounts accrued for repurchases of common stock 0 459
Receivable related to issuance of common stock, upon exercise of stock options 0 (51)
Amounts accrued for offering costs $ 122 $ 0