v3.23.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities:      
Net loss $ (94,226) $ (282,024) $ (384,841)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 1,654 1,927 2,075
Amortization of intangible asset 36,043 36,043 32,617
Intangible asset impairment charge 0 0 114,425
Non-cash interest expense related to sale of future royalties 6,182 9,117 0
Non-cash royalty revenue related to sale of future royalties (1,777) (821) 0
Amortization of premium/discount on investments 0 (15) (47)
Non-cash collaboration revenue (9,550) 0 0
Non-cash research and development expense 8,768 0 0
Non-cash interest expense 2,121 1,165 1,534
Non-cash operating lease expense (2,417) (1,842) (2,037)
Non-cash loss on extinguishment of debt 406 0 0
Fair value step-up of inventory sold or written off 0 21,575 68,240
Write-down of inventories 30,242 15,049 20,641
Change in excess inventory purchase commitments (65,946) 30,337 25,114
Stock-based compensation 17,849 22,735 24,460
Change in fair value of derivative liability (1,060) (600) 286
Changes in operating assets and liabilities:      
Accounts receivable 11,297 (24,027) 11,669
Inventories 19,087 (24,947) 6,163
Prepaid expenses and other current assets 1,058 (18,658) (8,119)
Operating lease assets 0 (13,888) 0
Other long-term assets (5,623) 5,674 (2,779)
Accounts payable 1,501 (11,735) 3,678
Accrued expenses and other current liabilities (38,005) (22,080) 6,259
Operating lease liabilities 2,311 15,398 1,411
Deferred revenue 4,654 1,821 (32,391)
Other non-current liabilities 2,277 (13,169) 1,254
Net cash used in operating activities (73,154) (252,965) (110,388)
Investing activities:      
Purchase of property and equipment (114) (59) (317)
Purchase of available for sale securities 0 0 (99,932)
Proceeds from the maturities of available for sale securities 0 40,000 60,245
Net cash provided by (used in) investing activities (114) 39,941 (40,004)
Financing activities:      
Proceeds from sale of future royalties, net 0 44,783 0
Proceeds from refund liabilities to customers 40,000 0 0
Proceeds from the issuance of common stock, net of issuance costs 7,121 88,202 209,419
Proceeds from the sale of stock under employee stock purchase plan 410 746 1,100
Proceeds from the exercise of stock options 67 0 1,226
Proceeds from the issuance of debt, net 0 0 19,975
Payments on debt (33,000) 0 0
Net cash provided by financing activities 14,598 133,731 231,720
Increase (decrease) in cash, cash equivalents, and restricted cash (58,670) (79,293) 81,328
Cash, cash equivalents, and restricted cash at beginning of the period 151,839 231,132 149,804
Cash, cash equivalents, and restricted cash at end of the period 93,169 151,839 231,132
Non-cash financing activities      
Unpaid offering costs 0 2 100
Cash paid for:      
Interest $ 6,755 $ 9,632 $ 7,843