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Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net loss $ (106,231) $ (88,574)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,551 3,346
Accretion of discount on marketable securities (5,483) (3,628)
Stock-based compensation 12,227 12,682
Non-cash lease expenses 2,482 1,305
Unrealized gain on equity securities (8,487) (1,329)
Non-cash interest expense on deferred royalty obligation 14,470 442
Other 430 106
Changes in operating assets and liabilities:    
Accounts receivable 29,128 (2,877)
Prepaid expenses and other assets (2,084) (90)
Accounts payable (3,292) (659)
Accrued compensation (4,746) (3,633)
Accrued expenses and other liabilities (5,383) 1,150
Deferred revenue 21,180 (8,728)
Change in operating lease liability (3,048) (1,699)
Net cash used in operating activities (55,286) (92,186)
Investing activities    
Purchases of marketable securities (292,332) (141,361)
Maturities of marketable securities 265,313 268,460
Sales of marketable securities 11,951 9,055
Purchases of equipment and leasehold improvements (1,202) (2,546)
Net cash (used in) provided by investing activities (16,270) 133,608
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) (6,250)
Proceeds from the sale of future royalties, net of issuance costs 139,744
Proceeds from exercise of common stock options 117 314
Taxes paid related to net shares settlement of restricted stock units (411) (457)
Proceeds from employee stock purchase plan 911 1,097
Net cash provided by financing activities 93,061 146,419
Net increase in cash, cash equivalents and restricted cash 21,505 187,841
Cash, cash equivalents and restricted cash at beginning of period 70,140 48,126
Cash, cash equivalents and restricted cash at end of period 91,645 235,967
Supplemental disclosure of cash flow information:    
Cash paid for interest 63 722
Income tax paid 15,164
Supplemental disclosure of non-cash investing and financing information:    
Purchases of equipment included in accounts payable and accrued expense 123 141
Financing component associated with program fees 3,918 5,075
Issuance costs related to deferred royalty obligation in accrued expenses 3,536
Premium on common stock issued to Ipsen Biopharma, Inc. (USA) $ 429

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