v3.23.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net loss $ (210,960) $ (156,730)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 32,296 34,244
Depreciation on property and equipment 193 126
Non-cash lease expense 1,131 1,106
Changes in operating assets and liabilities:    
Accounts receivable 11,764 (11,633)
Prepaid expenses and other current assets (20,533) 2,137
Income tax receivable 461 (85)
Accounts payable (17,124) 16,254
Accrued expenses 15,568 9,472
Operating lease liabilities (1,145) (1,179)
Due to Roivant Sciences Ltd. 156 176
Net cash used in operating activities (188,193) (106,112)
Cash flows from investing activities    
Purchases of property and equipment (197) (254)
Net cash used in investing activities (197) (254)
Cash flows from financing activities    
Payment of offering costs (272) 0
Proceeds from stock options exercised 657 0
Capital contributions 0 129
Net cash provided by financing activities 70,885 200,129
Effect of exchange rate changes on cash and cash equivalents 220 (92)
Net change in cash and cash equivalents (117,285) 93,671
Cash and cash equivalents – beginning of period 493,817 400,146
Cash and cash equivalents – end of period 376,532 493,817
Non-cash operating activity    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 0 127
Underwritten Offering    
Cash flows from financing activities    
Proceeds from issuance of common stock upon underwritten offering 70,500 0
Proceeds from investment by Roivant Sciences Ltd. 70,500 0
Roivant Sciences Ltd. (RSL)    
Cash flows from financing activities    
Proceeds from issuance of common stock upon underwritten offering 0 200,000
Proceeds from investment by Roivant Sciences Ltd. $ 0 $ 200,000

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