v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net loss $ (64,152) $ (127,756)
Reconciliation of net loss to net cash provided by (used in) operating activities:    
Stock-based compensation 35,193 25,303
Depreciation and amortization 17,573 5,335
Inventory reserves and firm commitment losses 1,783 1,491
Amortization of debt discount and offering costs 1,245 718
Loss from termination of revenue interest purchase agreement 0 49,076
Non-cash interest expense related to the revenue interest liability 0 5,060
Unrealized foreign exchange gain (1,082) (1,230)
Non-cash lease expense 985 476
Other (425) (1,025)
Change in operating assets and liabilities:    
Accounts receivable (562) (23,840)
Prepaid and other current assets (1,122) (3,447)
Inventory (2,952) (2,206)
Other assets (1,496) 180
Accounts payable, accrued expenses and other liabilities 30,973 18,250
Operating lease liabilities (568) (711)
Net cash provided by (used in) operating activities 15,393 (54,326)
Investing activities    
Purchase of investments (77,543) (27,329)
Proceeds from maturities of investments 7,750 150,000
Purchase of property and equipment (973) (109)
Cash paid for acquisition 0 (212,762)
Payments made for additions to intangible assets (20,000) (15,000)
Net cash used in investing activities (90,766) (105,200)
Financing activities    
Proceeds from issuance of common stock in private placement, net of issuance costs 0 202,363
Proceeds from issuance of common stock in at-the-market offerings, net of issuance costs 0 14,480
Proceeds from issuance of convertible notes, net 0 305,304
Proceeds from issuance of common stock pursuant to equity plans 12,359 8,253
Payments on revenue interest liability 0 (195,577)
Net cash provided by financing activities 12,359 334,823
Effect of exchange rate on cash, cash equivalents and restricted cash equivalents 82 (241)
Net (decrease) increase in cash, cash equivalents and restricted cash equivalents (62,932) 175,056
Cash, cash equivalents and restricted cash equivalents at beginning of period 286,326 128,003
Cash, cash equivalents and restricted cash at end of period 223,394 303,059
Supplemental disclosure of cash flow information:    
Operating cash flows paid for operating lease 881 824
Cash paid for interest 6,325 0
Cash paid for income taxes 771 0
Non-cash operating, investing and financing activities:    
Accrued milestone payments classified as intangible assets, net 0 5,000
Right-of-use assets obtained in exchange for lease liabilities 9,633 473
Decrease in ROU assets and lease liabilities due to lease modification 723 0
Stock-based compensation capitalized to inventory 909 578
Issuance of common stock in connection with settlement of Contingent Milestone and Indemnification Holdback liabilities $ 0 $ 5,188