v3.24.3
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net loss $ (155,018) $ (137,858)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 5,350 5,085
Accretion of discount on marketable securities (8,180) (6,022)
Stock-based compensation 18,772 18,685
Non-cash lease expenses 3,788 2,447
Realized gain on sale of equity securities (32,139)
Unrealized gain on equity securities 0 (2,023)
Non-cash interest expense on deferred royalty obligation 22,380 6,378
Other 610 414
Changes in operating assets and liabilities:    
Accounts receivable 29,423 (9,505)
Prepaid expenses and other assets (4,629) 778
Accounts payable (3,415) 755
Accrued compensation (1,509) (1,773)
Accrued expenses and other liabilities (6,610) 4,579
Deferred revenue 16,085 (4,507)
Change in operating lease liability (4,710) (3,121)
Net cash used in operating activities (119,802) (125,688)
Investing activities    
Purchases of marketable securities (335,490) (379,728)
Maturities of marketable securities 360,697 390,960
Sales of marketable securities 33,796 11,231
Proceed from sale of equity securities 74,047
Purchases of equipment and leasehold improvements (2,030) (2,874)
Net cash provided by investing activities 131,020 19,589
Financing activities    
Proceeds from sales of common stock, net of issuance costs 71,527 11,971
Proceeds from sales of common stock to Ipsen Biopharmaceuticals, Inc. (USA) 25,000
Payment of debt (4,083) (9,375)
Proceeds from the sale of future royalties, net of issuance costs 136,208
Proceeds from exercise of common stock options 271 314
Taxes paid related to net shares settlement of restricted stock units (485) (490)
Proceeds from employee stock purchase plan 1,848 2,051
Net cash provided by financing activities 94,078 140,679
Net increase in cash, cash equivalents and restricted cash 105,296 34,580
Cash, cash equivalents and restricted cash at beginning of period 70,140 48,126
Cash, cash equivalents and restricted cash at end of period 175,436 82,706
Supplemental disclosure of cash flow information:    
Cash paid for interest 63 971
Income tax paid 15,166
Supplemental disclosure of non-cash investing and financing information:    
Purchases of equipment included in accounts payable and accrued expense 676 327
Financing component associated with program fees 5,186 7,531
Premium on common stock issued to Ipsen Biopharma, Inc. (USA) $ 429

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