v3.24.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Operating activities    
Net loss $ (276,126) $ (228,302)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on sale of ATOM Facility 0 (50,237)
Stock-based compensation expense 45,386 53,838
Depreciation and amortization expense 4,829 5,653
Accretion of liability related to sale of future revenues 4,792 0
Non-cash operating lease expense 11,795 8,915
Amortization of investment premiums 792 1,024
Other non-cash items, net 214 147
Changes in operating assets and liabilities:    
Accounts receivable 6,113 (39,235)
Inventories (8,120) (1,586)
Other current assets 273 1,836
Other assets 1,043 (266)
Accounts payable (3,130) (9,211)
Accrued compensation (6,140) (7,491)
Accrued research and development expenses (3,663) 11,541
Other current liabilities 11,064 2,067
Deferred revenue 30,395 (11,468)
Operating lease liabilities (12,636) (8,009)
Other long-term liabilities 142 354
Net cash used in operating activities (192,977) (270,430)
Investing activities    
Purchases of short-term investments (83,648) (180,589)
Proceeds from maturities and sales of short-term investments 208,712 292,973
Purchases of property and equipment (1,223) (4,193)
Proceeds from sale of property and equipment 25 0
Net proceeds from sale of ATOM Facility 0 94,765
Net cash provided by (used in) investing activities 123,866 202,956
Financing activities    
Proceeds from issuance of common stock through ATM facilities, net 2,136 21,891
Proceeds from employee stock awards 928 1,921
Proceeds from sale of future revenues, net 0 30,605
Taxes paid related to net share settlement of restricted stock units (94) (623)
Principal payments on finance lease obligations (947) (518)
Other financing activities, net (13) (192)
Net cash provided by financing activities 2,010 53,084
Increase (decrease) in cash, cash equivalents and restricted cash (67,101) (14,390)
Cash, cash equivalents and restricted cash at beginning of period 93,088 107,478
Cash, cash equivalents and restricted cash at end of period 25,987 93,088
Non-cash investing and financing activities    
Property and equipment purchases included in accounts payable and other accrued liabilities 132 61
Accrued costs related to ATM facilities 78 0
Proceeds from issuance of common stock through ATM facilities not yet received 114 0
Accrued transaction costs related to sale of future revenues 0 332
Supplemental cash flow disclosure    
Cash paid for interest 447 335
Cash paid for income taxes $ 2 $ 19

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