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, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net loss $ (158,090,000) $ (130,092,000) $ (137,165,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 5,630,000 6,627,000 7,172,000
Amortization 937,000 967,000 838,000
Share-based compensation expense 20,629,000 10,414,000 11,053,000
Unrealized foreign exchange gains/(losses) 540,000 (1,333,000) 1,076,000
Amortization/(accretion) on available-for-sale debt securities 5,276,000 3,836,000 (185,000)
Other 1,173,000 (55,000) (13,000)
Changes in operating assets and liabilities:      
(Increase)/decrease in receivables and other operating assets (19,358,000) 1,747,000 (1,436,000)
Decrease/(increase) in non-current operating assets   2,458,000 (1,450,000)
Increase in payables and other current liabilities 4,207,000 3,867,000 5,508,000
Increase in deferred revenue 149,785,000 47,973,000 2,095,000
Net cash provided by /(used in) operating activities 10,729,000 (53,591,000) (112,507,000)
Cash flows from investing activities      
Acquisition of property, plant and equipment (8,574,000) (2,341,000) (1,592,000)
Acquisition of intangibles (207,000) (565,000) (1,482,000)
Maturity or redemption of marketable securities 224,343,000 105,022,000 125,303,000
Investment in marketable securities (139,762,000) (381,040,000) (27,284,000)
Net cash provided by/(used in) investing activities 75,800,000 (278,924,000) 94,945,000
Cash flows from financing activities      
Proceeds from issuance of common stock from offerings, net of commissions and issuance costs 2,529,000 334,388,000  
Proceeds from exercise of stock options 759,000 5,663,000 366,000
Net cash provided by financing activities 3,288,000 340,051,000 366,000
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash 365,000 (960,000) (372,000)
Net increase/(decrease) in cash, cash equivalents and restricted cash 90,182,000 6,576,000 (17,568,000)
Cash, cash equivalents and restricted cash at start of period 61,484,000 54,908,000 72,476,000
Cash, cash equivalents and restricted cash at end of period 151,666,000 61,484,000 54,908,000
Supplemental cash flow information      
Interest received 7,765,000 6,216,000 3,426,000
(Amortization)/accretion on available-for-sale debt securities (5,276,000) (3,836,000) 185,000
Income taxes paid $ 535,000 $ 75,000 $ 201,000