Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net loss $ (165,456,000) $ (158,090,000) $ (130,092,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 5,266,000 5,630,000 6,627,000
Amortization 809,000 937,000 967,000
Share-based compensation expense 18,240,000 20,629,000 10,414,000
Unrealized foreign exchange (gains)/losses (2,438,000) 540,000 (1,333,000)
Amortization on available-for-sale debt securities 2,525,000 5,276,000 3,836,000
Other 816,000 1,173,000 (55,000)
Changes in operating assets and liabilities:      
(Increase)/decrease in receivables and other operating assets (9,813,000) (19,358,000) 1,747,000
Decrease in non-current operating assets     2,458,000
Increase in payables and other current liabilities 4,408,000 4,207,000 3,867,000
Increase in deferred revenue 3,874,000 149,785,000 47,973,000
Net cash (used in)/provided by operating activities (141,769,000) 10,729,000 (53,591,000)
Cash flows from investing activities      
Acquisition of property, plant and equipment (29,496,000) (8,574,000) (2,341,000)
Acquisition of intangibles assets (244,000) (207,000) (565,000)
Maturity or redemption of marketable securities 166,994,000 224,343,000 105,022,000
Investment in marketable securities (48,117,000) (139,762,000) (381,040,000)
Net cash provided by/(used in) investing activities 89,137,000 75,800,000 (278,924,000)
Cash flows from financing activities      
Proceeds from issuance of common stock from offerings, net of commissions and issuance costs 12,817,000 2,529,000 334,388,000
Proceeds from exercise of stock options 50,000 759,000 5,663,000
Net cash provided by financing activities 12,867,000 3,288,000 340,051,000
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash (2,299,000) 365,000 (960,000)
Net (decrease)/increase in cash, cash equivalents and restricted cash (42,064,000) 90,182,000 6,576,000
Cash, cash equivalents and restricted cash at start of period 151,666,000 61,484,000 54,908,000
Cash, cash equivalents and restricted cash at end of period 109,602,000 151,666,000 61,484,000
Supplemental cash flow information      
Interest received 5,149,000 7,765,000 6,216,000
Amortization on available-for-sale debt securities 2,525,000 5,276,000 3,836,000
Income taxes paid $ 630,000 $ 535,000 $ 75,000