0001178879-22-000011 | 10-Q | XBRL Viewer

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Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2022	Apr. 27, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-33497
Entity Registrant Name	Amicus Therapeutics, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	71-0869350
Entity Address, Address Line One	3675 Market Street,
Entity Address, City or Town	Philadelphia,
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19104
City Area Code	(215)
Local Phone Number	921-7600
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	FOLD
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		280,162,619
Entity Central Index Key	0001178879
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 233,317	$ 245,197
Investments in marketable securities	177,878	237,299
Accounts receivable	52,421	52,672
Inventories	24,324	26,818
Prepaid expenses and other current assets	30,960	34,848
Total current assets	518,900	596,834
Operating lease right-of-use assets, net	27,509	20,586
Property and equipment, less accumulated depreciation of $20,966 and $19,882 at March 31, 2022 and December 31, 2021, respectively	34,544	42,496
In-process research & development	23,000	23,000
Goodwill	197,797	197,797
Other non-current assets	25,188	24,427
Total Assets	826,938	905,140
Current liabilities:
Accounts payable	22,914	21,513
Accrued expenses and other current liabilities	80,379	98,153
Contingent consideration payable	19,151	18,900
Operating lease liabilities	7,255	7,409
Total current liabilities	129,699	145,975
Deferred reimbursements	5,906	5,906
Long-term debt	389,994	389,357
Deferred income taxes	4,930	4,930
Operating lease liabilities	50,457	43,363
Other non-current liabilities	7,335	8,240
Total liabilities	588,321	597,771
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.01 par value, 500,000,000 shares authorized, 280,133,856 and 278,912,800 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	2,809	2,808
Additional paid-in capital	2,617,935	2,595,419
Accumulated other comprehensive (loss) gain:
Foreign currency translation adjustment	(420)	5,251
Unrealized loss on available-for-sale securities	(608)	(270)
Warrants	83	83
Accumulated deficit	(2,381,182)	(2,295,922)
Total stockholders’ equity	238,617	307,369
Total Liabilities and Stockholders’ Equity	$ 826,938	$ 905,140

Consolidated Balance Sheets (Unaudited) (Parenthetical) $ in Thousands	Mar. 31, 2022 USD ($) shares	Mar. 31, 2022 $ / shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2021 $ / shares
Statement of Financial Position [Abstract]
Accumulated depreciation of property and equipment \| $	$ 20,966		$ 19,882
Common stock, par value (in dollars per share) \| $ / shares		$ 0.01		$ 0.01
Common stock, shares authorized (in shares)	500,000,000		500,000,000
Common stock, shares issued (in shares)	280,133,856		278,912,800
Common stock, shares outstanding (in shares)	280,133,856		278,912,800

Consolidated Statements of Operations (Unaudited) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($) shares	Mar. 31, 2022 $ / shares	Mar. 31, 2021 USD ($) shares	Mar. 31, 2021 $ / shares
Revenue:
Net product sales	$ 78,715		$ 66,402
Cost of goods sold	7,582		6,539
Gross profit	71,133		59,863
Operating expenses:
Research and development	81,517		64,117
Selling, general, and administrative	58,116		46,726
Changes in fair value of contingent consideration payable	(1,188)		471
Loss on impairment of assets	6,616		0
Depreciation and amortization	1,411		1,604
Total operating expenses	146,472		112,918
Loss from operations	(75,339)		(53,055)
Other (expense) income:
Interest income	133		165
Interest expense	(8,147)		(7,992)
Other income (expense)	1,902		(3,200)
Loss before income tax	(81,451)		(64,082)
Income tax expense	(3,809)		(1,582)
Net loss attributable to common stockholders	$ (85,260)		$ (65,664)
Net loss attributable to common stockholders per common share - basic (in dollars per share) \| $ / shares		$ (0.30)		$ (0.25)
Net loss attributable to common stockholders per common share — diluted (in dollars per share) \| $ / shares		$ (0.30)		$ (0.25)
Weighted average common shares outstanding - basic (in shares) \| shares	288,481,741		264,369,317
Weighted average number of shares outstanding - diluted (in shares) \| shares	288,481,741		264,369,317

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (85,260)	$ (65,664)
Other comprehensive (loss) gain:
Foreign currency translation adjustment (loss) gain	(5,671)	608
Unrealized loss on available-for-sale securities	(338)	0
Other comprehensive (loss) gain	(6,009)	608
Comprehensive loss	$ (91,269)	$ (65,056)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Warrants	Other Comprehensive Gain (Loss)	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2020		262,063,461
Beginning balance at Dec. 31, 2020	$ 286,380	$ 2,650	$ 2,308,578	$ 12,387	$ 8,227	$ (2,045,462)
Increase (Decrease) in Stockholders' Equity
Stock options exercised, net (in shares)		488,111
Stock options exercised, net	4,161	$ 4	4,157
Vesting of restricted stock units, net of tax (in shares)		897,063
Vesting of restricted stock units, net of taxes	(14,194)		(14,194)
Stock-based compensation	20,354		20,354
Unrealized holding loss on available-for-sale securities	0
Foreign currency translation adjustment	608				608
Net loss	(65,664)					(65,664)
Warrants exercised (in shares)		2,554,999
Warrants exercised	19,230	$ 26	31,591	(12,387)
Equity component of the convertible notes (in shares)		4,084
Equity component of the convertible notes	21		21
Ending balance (in shares) at Mar. 31, 2021		266,007,718
Ending balance at Mar. 31, 2021	$ 250,896	$ 2,680	2,350,507	0	8,835	(2,111,126)
Beginning balance (in shares) at Dec. 31, 2021	278,912,800	278,912,800
Beginning balance at Dec. 31, 2021	$ 307,369	$ 2,808	2,595,419	83	4,981	(2,295,922)
Increase (Decrease) in Stockholders' Equity
Stock options exercised, net (in shares)	149,000	145,449
Stock options exercised, net	$ 859	$ 1	858
Vesting of restricted stock units, net of tax (in shares)		1,075,607
Vesting of restricted stock units, net of taxes	(8,993)		(8,993)
Stock-based compensation	30,651		30,651
Unrealized holding loss on available-for-sale securities	(338)				(338)
Foreign currency translation adjustment	(5,671)				(5,671)
Net loss	$ (85,260)					(85,260)
Ending balance (in shares) at Mar. 31, 2022	280,133,856	280,133,856
Ending balance at Mar. 31, 2022	$ 238,617	$ 2,809	$ 2,617,935	$ 83	$ (1,028)	$ (2,381,182)

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating activities
Net loss	$ (85,260)	$ (65,664)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of debt discount and deferred financing	637	555
Depreciation and amortization	1,411	1,604
Stock-based compensation	30,651	20,354
Non-cash changes in the fair value of contingent consideration payable	(1,188)	471
Foreign currency remeasurement loss	673	2,846
Loss on impairment of assets	6,616	0
Changes in operating assets and liabilities:
Accounts receivable	(1,000)	839
Inventories	1,812	741
Prepaid expenses and other current assets	3,332	7,669
Accounts payable, accrued expenses, and other current liabilities	(14,563)	(40,191)
Other non-current assets and liabilities	(1,436)	(1,578)
Net cash used in operating activities	(58,315)	(72,354)
Investing activities
Sale and redemption of marketable securities	108,328	163,680
Purchases of marketable securities	(49,244)	(76,247)
Capital expenditures	(871)	(868)
Net cash provided by investing activities	58,213	86,565
Financing activities
Payment of finance leases	(20)	(368)
Proceeds from warrants exercised	0	19,230
Purchase of vested restricted stock units, net of taxes	(8,993)	(14,194)
Proceeds from stock options exercised, net	859	4,161
Net cash (used in) provided by financing activities	(8,154)	8,829
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(3,377)	(1,153)
Net (decrease) increase in cash, cash equivalents, and restricted cash at the end of the period	(11,633)	21,887
Cash, cash equivalents, and restricted cash at the beginning of period	249,456	166,162
Cash, cash equivalents, and restricted cash at the end of period	237,823	188,049
Supplemental disclosures of cash flow information
Cash paid during the period for interest	7,509	7,513
Capital expenditures unpaid at the end of period	72	188
Cash paid for taxes	$ 456	$ 2,472

Description of Business	3 Months Ended
Description of Business	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Amicus Therapeutics, Inc. (the "Company") is a global, patient-dedicated biotechnology company focused on discovering, developing, and delivering novel medicines for rare diseases. The Company has a portfolio of product opportunities including the first, oral monotherapy for Fabry disease that has achieved widespread global approval and a differentiated biologic for Pompe disease, that is under review with the U.S. Food and Drug Administration ("FDA") as well as the European Medicines Agency ("EMA"). We are committed to discovering and developing next generation therapies in Fabry and Pompe diseases. The cornerstone of the Company's portfolio is Galafold® (also referred to as "migalastat"), the first and only approved oral precision medicine for people living with Fabry disease who have amenable genetic variants. Migalastat is currently approved under the trade name Galafold® in the United States ("U.S."), European Union ("E.U."), United Kingdom ("U.K."), and Japan, with multiple additional approvals granted and applications pending in several geographies around the world. The lead biologics program of the Company's pipeline is Amicus Therapeutics GAA ("AT-GAA", also known as ATB200/AT2221, or cipaglucosidase alfa/miglustat), a novel, two-component, potential best-in-class treatment for Pompe disease. In February 2019, the FDA granted Breakthrough Therapy designation ("BTD") to AT-GAA for the treatment of late onset Pompe disease. In September 2021, the FDA set the Prescription Drug User Fee Act ("PDUFA") target action date of May 29, 2022 for the New Drug Application ("NDA") for miglustat and July 29, 2022 for the Biologics License Application ("BLA") for cipaglucosidase alfa. The EMA validated the Marketing Authorization Application (“MAA”) in the fourth quarter of 2021. On May 9, 2022, the FDA extended the review period for the NDA for miglustat and the BLA for cipaglucosidase alfa resulting in revised PDUFA action dates of August 29, 2022 and October 29, 2022, respectively. The Company's operations have not been significantly impacted by the novel coronavirus (“COVID-19”) pandemic to date. The Company continued to observe increased lag times between patient identification and Galafold® initiation due to the resurgence of COVID-19 in certain markets. The Company has maintained operations in all geographies, secured its global supply chain for its commercial and clinical products, as well as maintained the operational integrity of its clinical trials, with minimal disruptions. Whether the Company will continue to operate without any significant disruptions will depend on the continued health of its employees, the ongoing demand for Galafold® and the continued operation of its global supply chain. The Company has continued to provide uninterrupted access to medicines for those in need of treatment, while prioritizing the health and safety of its global workforce. However, the Company's results of operations in future periods may be negatively impacted by unknown future impacts from the COVID-19 pandemic. The Company had an accumulated deficit of $2.4 billion as of March 31, 2022 and anticipates incurring losses through the fiscal year ending December 31, 2022 and beyond. The Company has historically funded its operations through stock offerings, Galafold® revenues, debt issuances, collaborations, and other financing arrangements. Based on its current operating model, the Company believes that the current cash position, which includes expected revenues, is sufficient to fund the Company's operations and ongoing research programs to achieve self-sustainability. Potential impacts of the COVID-19 pandemic, business development collaborations, pipeline expansion, and investment in manufacturing capabilities could impact the Company's future capital requirements.

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

The Company has prepared the accompanying unaudited Consolidated Financial Statements in accordance with the U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10-01 of Regulation S-X. Accordingly, they do not include all of the information and disclosures required by U.S. GAAP for complete financial statements. In the opinion of management, the accompanying unaudited financial statements reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company's interim financial information.

The accompanying unaudited Consolidated Financial Statements and related notes should be read in conjunction with the Company's financial statements and related notes as contained in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021. For a complete description of the Company's accounting policies, please refer to the Annual Report on Form 10-K for the fiscal year ended December 31, 2021.

Consolidation

The Consolidated Financial Statements include the accounts of the Company and its subsidiaries. Intercompany accounts and transactions are eliminated in consolidation.

Foreign Currency Transactions

The functional currency for most of the Company's foreign subsidiaries is their local currency. For non-U.S. subsidiaries that transact in a functional currency other than the U.S. dollar, assets and liabilities are translated at current rates of exchange at the balance sheet date. Income and expense items are translated at the average foreign exchange rates for the period. Adjustments resulting from the translation of the financial statements of the Company's foreign operations into U.S. dollars are excluded from the determination of net income and are recorded in accumulated other comprehensive income, a separate component of stockholders' equity.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

Additionally, the Company assessed the impact COVID-19 pandemic has had on its operations and financial results as of March 31, 2022 and through the issuance of these financial statements. The Company’s analysis was informed by the facts and circumstances as they were known to the Company. This assessment considered the impact COVID-19 may have on financial estimates and assumptions that affect the reported amounts of assets and liabilities and revenue and expenses.

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash

The Company considers all highly liquid investments purchased with a maturity of three months or less at the date of acquisition to be cash equivalents. Marketable securities consist of fixed income investments with a maturity of greater than three months and other highly liquid investments that can be readily purchased or sold using established markets. These investments are classified as available-for-sale and are reported at fair value on the Company's Consolidated Balance Sheets. Unrealized holding gains and losses are reported within other comprehensive loss in the Company's Consolidated Statements of Comprehensive Loss. Fair value is based on available market information including quoted market prices, broker or dealer quotations, or other observable inputs.

Restricted cash consists primarily of funds held to satisfy the requirements of certain agreements that are restricted in their use and is included in other current assets and other non-current assets on the Company's Consolidated Balance Sheets.

Concentration of Credit Risk

The Company's financial instruments that are exposed to concentration of credit risk consist primarily of cash, cash equivalents, and marketable securities. The Company maintains its cash and cash equivalents in bank accounts, which, at times, exceed federally insured limits. The Company invests its marketable securities in high-quality commercial financial instruments. The Company has not recognized any losses from credit risks on such accounts during any of the periods presented. The Company believes it is not exposed to significant credit risk on its cash, cash equivalents, or marketable securities.

The Company is subject to credit risk from its accounts receivable related to its product sales of Galafold®. The Company's accounts receivable at March 31, 2022 have arisen from product sales primarily in Europe and the U.S. The Company will periodically assess the financial strength of its customers to establish allowances for anticipated losses, if any. For accounts receivable that have arisen from named patient sales, the payment terms are predetermined, and the Company evaluates the creditworthiness of each customer on a regular basis. As of March 31, 2022, the Company recorded an allowance for doubtful accounts of $0.2 million.

Property and Equipment

Property and equipment are stated at cost, less accumulated depreciation. Depreciation is calculated over the estimated useful lives of the respective assets, which range from three to five years, or the lesser of the related initial term of the lease or useful life for leasehold improvements.

The initial cost of property and equipment consists of its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Expenditures incurred after the fixed assets have been put into operation, such as repairs and maintenance, are charged to income in the period in which the costs are incurred. Major replacements, improvements, and additions are capitalized in accordance with Company policy.

The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. If indications of impairment exist, projected future undiscounted cash flows associated with the asset or asset group are compared to the carrying value of the asset to determine whether the asset or asset group's value is recoverable. If impairment is determined, the Company writes down the asset to its estimated fair value and records an impairment loss equal to the excess of the carrying value of the long-lived asset over its estimated fair value in the period at which such a determination is made.

During the three months ended March 31, 2022, in connection with the strategic prioritization of its gene therapy portfolio, the Company performed an assessment of its fixed assets. As a result, the Company recognized an impairment charge of $6.6 million.

Revenue Recognition

The Company's net product sales consist of sales of Galafold® for the treatment of Fabry disease. The Company has recorded revenue on sales where Galafold® is available either on a commercial basis or through a reimbursed early access program. Orders for Galafold® are generally received from distributors and pharmacies, with the ultimate payor often a government authority.

The Company recognizes revenue when its performance obligations to its customers have been satisfied, which occurs at a point in time when the pharmacies or distributors obtain control of Galafold®. The transaction price is determined based on fixed consideration in the Company's customer contracts and is recorded net of estimates for variable consideration, which are third party discounts and rebates. The identified variable consideration is recorded as a reduction of revenue at the time revenue from the sale of Galafold® is recognized. The Company recognizes revenue to the extent that it is probable that a significant revenue reversal will not occur in a future period. These estimates may differ from actual consideration received. The Company evaluates these estimates each reporting period to reflect known changes.

The following table summarizes the Company's net product sales from Galafold® disaggregated by geographic area:


	Three Months Ended March 31,
(in thousands)	2022		2021
U.S.	$	24,178	$	20,853
Ex-U.S.	54,537		45,549
Total net product sales	$	78,715	$	66,402

Inventories and Cost of Goods Sold

Inventories are stated at the lower of cost and net realizable value, determined by the first-in, first-out method. Inventories are reviewed periodically to identify slow-moving or obsolete inventory based on projected sales activity as well as product shelf-life. In evaluating the recoverability of inventories produced, the probability that revenue will be obtained from the future sale of the related inventory is considered and inventory value is written down for inventory quantities in excess of expected requirements. Expired inventory is disposed of and the related costs are recognized as cost of goods sold in the Consolidated Statements of Operations.

Cost of goods sold includes the cost of inventory sold, manufacturing and supply chain costs, product shipping and handling costs, provisions for excess and obsolete inventory, as well as royalties payable.

Recent Accounting Developments

The Company has evaluated recent accounting pronouncements and believes that none of them will have a material effect on the Company's Consolidated Financial Statements or related disclosures.

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash

3 Months Ended

Mar. 31, 2022

Cash, Cash Equivalents, and Short-term Investments [Abstract]

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash

As of March 31, 2022, the Company held $233.3 million in cash and cash equivalents and $177.9 million of marketable securities which are reported at fair value on the Company's Consolidated Balance Sheets. Unrealized holding gains and losses are generally reported within other comprehensive loss in the Company's Consolidated Statements of Comprehensive Loss. If a decline in the fair value of a marketable security below the Company's cost basis is determined to be other-than-temporary or if an available-for-sale debt security’s fair value is determined to be less than the amortized cost and the Company intends or is more than likely to sell the security before recovery and it is not considered a credit loss, such security is written down to its estimated fair value as a new cost basis and the amount of the write-down is included in earnings as an impairment charge. If the unrealized loss of an available-for-sale debt security is determined to be a result of credit loss, the Company would recognize an allowance and the corresponding credit loss would be included in earnings.

The Company regularly invests excess operating cash in deposits with major financial institutions, money market funds, notes issued by the U.S. government, as well as fixed income investments and U.S. bond funds, both of which can be readily purchased and sold using established markets. The Company believes that the market risk arising from its holdings of these financial instruments is mitigated as many of these securities are either government backed or of the highest credit rating. Investments that have original maturities greater than three months but less than one year are classified as current.

Cash, cash equivalents and marketable securities are classified as current unless mentioned otherwise below and consisted of the following:


	As of March 31, 2022
(in thousands)	Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value
Cash and cash equivalents	$	233,317	$	—	$	—	$	233,317
Commercial paper	132,131		—		(311)		131,820
U.S. government agency bonds	35,229		—		(78)		35,151
Asset-backed securities	6,013		—		(15)		5,998
Corporate debt securities	4,514		—		(6)		4,508
Money market	350		—		—		350
Certificates of deposit	51		—		—		51
	$	411,605	$	—	$	(410)	$	411,195
Included in cash and cash equivalents	$	233,317	$	—	$	—	$	233,317
Included in marketable securities	178,288		—		(410)		177,878
Total cash, cash equivalents, and marketable securities	$	411,605	$	—	$	(410)	$	411,195


	As of December 31, 2021
(in thousands)	Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value
Cash and cash equivalents	$	245,197	$	—	$	—	$	245,197
Commercial paper	174,578		7		(54)		174,531
Corporate debt securities	32,322		—		(11)		32,311
Asset-backed securities	30,070		—		(14)		30,056
Money market	350		—		—		350
Certificate of deposit	51		—		—		51
	$	482,568	$	7	$	(79)	$	482,496
Included in cash and cash equivalents	$	245,197	$	—	$	—	$	245,197
Included in marketable securities	237,371		7		(79)		237,299
Total cash, cash equivalents, and marketable securities	$	482,568	$	7	$	(79)	$	482,496

For both the three months ended March 31, 2022 and the fiscal year ended December 31, 2021, there were no realized gains or losses. The cost of securities sold is based on the specific identification method.

Unrealized loss positions in the marketable securities as of March 31, 2022 and December 31, 2021 reflect temporary impairments and are not a result of credit loss. Additionally, as these positions have been in a loss position for less than twelve months and the Company does not intend to sell these securities before recovery, the losses are recognized in other comprehensive (loss) gain. The fair value of these marketable securities in unrealized loss positions was $173.5 million and $173.4 million as of March 31, 2022 and December 31, 2021, respectively.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows.


	As of March 31,
(in thousands)	2022		2021
Cash and cash equivalents	$	233,317	$	184,833
Restricted cash	4,506		3,216
Cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows	$	237,823	$	188,049

Inventories

3 Months Ended

Mar. 31, 2022

Inventory Disclosure [Abstract]

Inventories

Inventories consist of raw materials, work-in-process, and finished goods related to the manufacture of Galafold®. The following table summarizes the components of inventories:


(in thousands)	March 31, 2022		December 31, 2021
Raw materials	$	12,504	$	12,289
Work-in-process	8,526		10,699
Finished goods	3,294		3,830
Total inventories	$	24,324	$	26,818

The Company recorded a reserve for inventory of $1.2 million and $1.1 million as of March 31, 2022 and December 31, 2021, respectively.

Debt

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Debt

The Company's debt consists of the following:


(in thousands)	March 31, 2022		December 31, 2021
Senior Secured Term Loan due 2026:
Principal	$	400,000	$	400,000
Less: debt discount (1)	(5,710)		(6,074)
Less: deferred financing (1)	(4,296)		(4,569)
Net carrying value of Long-term debt	$	389,994	$	389,357

______________________________

(1) Included in the Consolidated Balance Sheets within long-term debt and amortized to interest expense over the remaining life of the Senior Secured Term Loan using the effective interest rate method.

Interest Expense

The following table sets forth interest expense recognized related to the Company's debt for the three months ended March 31, 2022 and 2021, respectively:


	Three Months Ended March 31,
(in thousands)	2022		2021
Contractual interest expense	$	7,500	$	7,521
Amortization of debt discount	$	364	$	332
Amortization of deferred financing	$	273	$	223

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
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-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Share-Based Compensation

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

Share-Based CompensationThe Company's Amended and Restated 2007 Equity Incentive Plan (the "Plan") provides for the granting of restricted stock units and options to purchase common stock in the Company to employees, directors, advisors, and consultants at a price to be determined by the Company's Board of Directors. The Plan is intended to encourage ownership of stock by employees and consultants of the Company and to provide additional incentives for them to promote the success of the Company's business. The Board of Directors, or its committee, is responsible for determining the individuals to be granted options, the number of options each individual will receive, the option price per share, and the exercise period of each option.

Stock Option Grants

The fair value of the stock options granted is estimated on the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:


	Three Months Ended March 31,
	2022			2021
Expected stock price volatility	62.3		%	66.7		%
Risk free interest rate	1.5		%	0.4		%
Expected life of options (years)	5.3			5.4
Expected annual dividend per share	$	—		$	—

A summary of the Company's stock options for the three months ended March 31, 2022 were as follows:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Years	Aggregate Intrinsic Value
	(in thousands)				(in millions)
Options outstanding, December 31, 2021	14,731	$	11.08
Granted	4,892	$	11.89
Exercised	(149)	$	6.00
Forfeited	(127)	$	12.57
Expired	(43)	$	11.74
Options outstanding, March 31, 2022	19,304	$	11.31	7.1	$	12.3
Vested and unvested expected to vest, March 31, 2022	17,174	$	11.16	6.8	$	12.2
Exercisable at March 31, 2022	9,932	$	10.20	5.1	$	12.0

As of March 31, 2022, the total unrecognized compensation cost related to non-vested stock options granted was $42.3 million and is expected to be recognized over a weighted average period of three years.

Restricted Stock Units and Performance-Based Restricted Stock Units (collectively "RSUs")

RSUs awarded under the Plan are generally subject to graded vesting and are contingent on an employee's continued service. RSUs are generally subject to forfeiture if employment terminates prior to the release of vesting restrictions. The Company expenses the cost of the RSUs, which is determined to be the fair market value of the shares of common stock underlying the RSUs at the date of grant, ratably over the period during which the vesting restrictions lapse. A summary of non-vested RSU activity under the Plan for the three months ended March 31, 2022 is as follows:


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Years	Aggregate Intrinsic Value
	(in thousands)				(in millions)
Non-vested units as of December 31, 2021	7,341	$	13.90
Granted	4,633	$	12.12
Vested	(1,538)	$	12.70
Forfeited	(85)	$	12.57
Non-vested units as of March 31, 2022	10,351	$	13.16	2.7	$	98.0

All non-vested units are expected to vest over their normal term. As of March 31, 2022, there was $73.0 million of total unrecognized compensation cost related to unvested RSUs with service-based vesting conditions. These costs are expected to be recognized over a weighted average period of three years.

Compensation Expense Related to Equity Awards

The following table summarizes information related to compensation expense recognized in the Consolidated Statements of Operations related to the equity awards:


	Three Months Ended March 31,
(in thousands)	2022		2021
Research and development expense	$	9,365	$	6,305
Selling, general, and administrative expense	21,286		14,049
Total equity compensation expense	$	30,651	$	20,354

Assets and Liabilities Measured at Fair Value

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value

The Company's financial assets and liabilities are measured at fair value and classified within the fair value hierarchy, which is defined as follows:

Level 1 — Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Level 2 — Inputs other than quoted prices in active markets that are observable for the asset or liability, either directly or indirectly.

Level 3 — Inputs that are unobservable for the asset or liability.

A summary of the fair value of the Company's recurring assets and liabilities aggregated by the level in the fair value hierarchy within which those measurements fall as of March 31, 2022 are identified in the following tables:


(in thousands)	Level 2		Total
Assets:
Commercial paper	$	131,820	$	131,820
U.S. government agency bonds	35,151		35,151
Asset-backed securities	5,998		5,998
Money market	5,755		5,755
Corporate debt securities	4,508		4,508
	$	183,232	$	183,232


(in thousands)	Level 2		Level 3		Total
Liabilities:
Contingent consideration payable	$	—	$	19,151	$	19,151
Deferred compensation plan liability	5,405		—		5,405
	$	5,405	$	19,151	$	24,556

A summary of the fair value of the Company's recurring assets and liabilities aggregated by the level in the fair value hierarchy within which those measurements fall as of December 31, 2021 are identified in the following tables:


(in thousands)	Level 2		Total
Assets:
Corporate debt securities	$	174,531	$	174,531
Commercial paper	32,311		32,311
Asset-backed securities	30,056		30,056
Money market funds	5,150		5,150
	$	242,048	$	242,048


(in thousands)	Level 2		Level 3		Total
Liabilities:
Contingent consideration payable	$	—	$	20,339	$	20,339
Deferred compensation plan liability	4,800		—		4,800
	$	4,800	$	20,339	$	25,139

The Company's Senior Secured Term Loan due 2026 falls into the Level 2 category within the fair value level hierarchy and the fair value was determined using quoted prices for similar liabilities in active markets, as well as inputs that are observable for the liability (other than quoted prices), such as interest rates that are observable at commonly quoted intervals. The carrying value of the Senior Secured Term Loan due 2026 approximates the fair value.

The Company did not have any Level 3 assets as of March 31, 2022 or December 31, 2021.

Cash, Money Market Funds, and Marketable Securities

The Company classifies its cash within the fair value hierarchy as Level 1 as these assets are valued using quoted prices in an active market for identical assets at the measurement date. The Company considers its investments in marketable securities as available-for-sale and classifies these assets and the money market funds within the fair value hierarchy as Level 2 primarily utilizing broker quotes in a non-active market for valuation of these securities.

Contingent Consideration Payable

The contingent consideration payable resulted from the acquisition of Callidus Biopharma, Inc. ("Callidus") in November 2013. The most recent valuation was determined using a probability weighted discounted cash flow valuation approach. Gains and losses are included in the Consolidated Statements of Operations.

The contingent consideration payable for Callidus has been classified as a Level 3 recurring liability as its valuation requires substantial judgment and estimation of factors that are not currently observable in the market. If different assumptions were used for the various inputs to the valuation approach, the estimated fair value could be significantly higher or lower than the fair value the Company determined.

The following significant unobservable inputs were used in the valuation of the contingent consideration payable of Callidus for the ATB200 Pompe disease program:

Contingent Consideration

Liability

Fair Value as of March 31, 2022

Valuation Technique

Unobservable Input

Range

(in thousands)

Discount rate

7.5%

Clinical and regulatory milestones

19,151

Probability weighted discounted cash flow

Probability of achievement of milestones

75% - 88%

Projected year of payments

2022 - 2023

Contingent consideration liabilities are remeasured to fair value each reporting period using discount rates, probabilities of payment, and projected payment dates. Projected contingent payment amounts related to clinical and regulatory based milestones are discounted back to the current period using a discounted cash flow model. Increases in discount rates and the time to payment may result in lower fair value measurements. Increases or decreases in any of those inputs together, or in isolation, may result in a significantly lower or higher fair value measurement. There is no assurance that any of the conditions for the milestone payments will be met.

The following table shows the change in the balance of contingent consideration payable for the three months ended March 31, 2022 and 2021, respectively:


	Three Months Ended March 31,
(in thousands)	2022		2021
Balance, beginning of the period	$	20,339	$	25,825
Changes in fair value during the period, included in the Consolidated Statements of Operations	(1,188)		471
Balance, end of the period (1)	$	19,151	$	26,296

______________________________

(1) As certain milestones are expected to be reached within the next twelve months, the March 31, 2022 balance was recorded as a current liability in the Consolidated Balance Sheets.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Basic and Diluted Net Loss per Common Share

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Basic and Diluted Net Loss per Common Share

The following table provides a reconciliation of the numerator and denominator used in computing basic and diluted net loss attributable to common stockholders per common share:


	Three Months Ended March 31,
(in thousands, except per share amounts)	2022		2021
Numerator:
Net loss attributable to common stockholders	$	(85,260)	$	(65,664)
Denominator:
Weighted average common shares outstanding — basic and diluted	288,481,741		264,369,317

Dilutive common stock equivalents would include the dilutive effect of common stock options, convertible debt units, RSUs, and warrants for common stock equivalents. Potentially dilutive common stock equivalents were excluded from the diluted earnings per share denominator for all periods because of their anti-dilutive effect. Weighted average common shares outstanding includes outstanding pre-funded warrants with an exercise price of $0.01.

The table below presents potential shares of common stock that were excluded from the computation as they were anti-dilutive using the treasury stock method:


	As of March 31,
(in thousands)	2022	2021
Options to purchase common stock	19,304	15,084
Unvested restricted stock units	10,351	7,466
Convertible notes	—	458
Total number of potentially issuable shares	29,655	23,008

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company has prepared the accompanying unaudited Consolidated Financial Statements in accordance with the U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10-01 of Regulation S-X. Accordingly, they do not include all of the information and disclosures required by U.S. GAAP for complete financial statements. In the opinion of management, the accompanying unaudited financial statements reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company's interim financial information. The accompanying unaudited Consolidated Financial Statements and related notes should be read in conjunction with the Company's financial statements and related notes as contained in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021. For a complete description of the Company's accounting policies, please refer to the Annual Report on Form 10-K for the fiscal year ended December 31, 2021.
Consolidation	Consolidation The Consolidated Financial Statements include the accounts of the Company and its subsidiaries. Intercompany accounts and transactions are eliminated in consolidation.
Foreign Currency Transactions	Foreign Currency Transactions The functional currency for most of the Company's foreign subsidiaries is their local currency. For non-U.S. subsidiaries that transact in a functional currency other than the U.S. dollar, assets and liabilities are translated at current rates of exchange at the balance sheet date. Income and expense items are translated at the average foreign exchange rates for the period. Adjustments resulting from the translation of the financial statements of the Company's foreign operations into U.S. dollars are excluded from the determination of net income and are recorded in accumulated other comprehensive income, a separate component of stockholders' equity.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Additionally, the Company assessed the impact COVID-19 pandemic has had on its operations and financial results as of March 31, 2022 and through the issuance of these financial statements. The Company’s analysis was informed by the facts and circumstances as they were known to the Company. This assessment considered the impact COVID-19 may have on financial estimates and assumptions that affect the reported amounts of assets and liabilities and revenue and expenses.
Cash, Cash Equivalents, Marketable Securities and Restricted Cash	Cash, Cash Equivalents, Marketable Securities, and Restricted Cash The Company considers all highly liquid investments purchased with a maturity of three months or less at the date of acquisition to be cash equivalents. Marketable securities consist of fixed income investments with a maturity of greater than three months and other highly liquid investments that can be readily purchased or sold using established markets. These investments are classified as available-for-sale and are reported at fair value on the Company's Consolidated Balance Sheets. Unrealized holding gains and losses are reported within other comprehensive loss in the Company's Consolidated Statements of Comprehensive Loss. Fair value is based on available market information including quoted market prices, broker or dealer quotations, or other observable inputs. Restricted cash consists primarily of funds held to satisfy the requirements of certain agreements that are restricted in their use and is included in other current assets and other non-current assets on the Company's Consolidated Balance Sheets.
Concentration of Credit Risk	Concentration of Credit Risk The Company's financial instruments that are exposed to concentration of credit risk consist primarily of cash, cash equivalents, and marketable securities. The Company maintains its cash and cash equivalents in bank accounts, which, at times, exceed federally insured limits. The Company invests its marketable securities in high-quality commercial financial instruments. The Company has not recognized any losses from credit risks on such accounts during any of the periods presented. The Company believes it is not exposed to significant credit risk on its cash, cash equivalents, or marketable securities. The Company is subject to credit risk from its accounts receivable related to its product sales of Galafold®. The Company's accounts receivable at March 31, 2022 have arisen from product sales primarily in Europe and the U.S. The Company will periodically assess the financial strength of its customers to establish allowances for anticipated losses, if any. For accounts receivable that have arisen from named patient sales, the payment terms are predetermined, and the Company evaluates the creditworthiness of each customer on a regular basis.
Property and Equipment	Property and Equipment Property and equipment are stated at cost, less accumulated depreciation. Depreciation is calculated over the estimated useful lives of the respective assets, which range from three to five years, or the lesser of the related initial term of the lease or useful life for leasehold improvements. The initial cost of property and equipment consists of its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Expenditures incurred after the fixed assets have been put into operation, such as repairs and maintenance, are charged to income in the period in which the costs are incurred. Major replacements, improvements, and additions are capitalized in accordance with Company policy. The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. If indications of impairment exist, projected future undiscounted cash flows associated with the asset or asset group are compared to the carrying value of the asset to determine whether the asset or asset group's value is recoverable. If impairment is determined, the Company writes down the asset to its estimated fair value and records an impairment loss equal to the excess of the carrying value of the long-lived asset over its estimated fair value in the period at which such a determination is made. During the three months ended March 31, 2022, in connection with the strategic prioritization of its gene therapy portfolio, the Company performed an assessment of its fixed assets. As a result, the Company recognized an impairment charge of $6.6 million.
Revenue Recognition	Revenue Recognition The Company's net product sales consist of sales of Galafold® for the treatment of Fabry disease. The Company has recorded revenue on sales where Galafold® is available either on a commercial basis or through a reimbursed early access program. Orders for Galafold® are generally received from distributors and pharmacies, with the ultimate payor often a government authority. The Company recognizes revenue when its performance obligations to its customers have been satisfied, which occurs at a point in time when the pharmacies or distributors obtain control of Galafold®. The transaction price is determined based on fixed consideration in the Company's customer contracts and is recorded net of estimates for variable consideration, which are third party discounts and rebates. The identified variable consideration is recorded as a reduction of revenue at the time revenue from the sale of Galafold® is recognized. The Company recognizes revenue to the extent that it is probable that a significant revenue reversal will not occur in a future period. These estimates may differ from actual consideration received. The Company evaluates these estimates each reporting period to reflect known changes.
Inventories and Cost of Goods Sold	Inventories and Cost of Goods Sold Inventories are stated at the lower of cost and net realizable value, determined by the first-in, first-out method. Inventories are reviewed periodically to identify slow-moving or obsolete inventory based on projected sales activity as well as product shelf-life. In evaluating the recoverability of inventories produced, the probability that revenue will be obtained from the future sale of the related inventory is considered and inventory value is written down for inventory quantities in excess of expected requirements. Expired inventory is disposed of and the related costs are recognized as cost of goods sold in the Consolidated Statements of Operations. Cost of goods sold includes the cost of inventory sold, manufacturing and supply chain costs, product shipping and handling costs, provisions for excess and obsolete inventory, as well as royalties payable.
Recent Accounting Developments	Recent Accounting Developments The Company has evaluated recent accounting pronouncements and believes that none of them will have a material effect on the Company's Consolidated Financial Statements or related disclosures.

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2022

Accounting Policies [Abstract]

Disaggregation of Revenue

The following table summarizes the Company's net product sales from Galafold® disaggregated by geographic area:


	Three Months Ended March 31,
(in thousands)	2022		2021
U.S.	$	24,178	$	20,853
Ex-U.S.	54,537		45,549
Total net product sales	$	78,715	$	66,402

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash (Tables)

3 Months Ended

Mar. 31, 2022

Cash, Cash Equivalents, and Short-term Investments [Abstract]

Schedule of Cash, Cash Equivalents and Marketable Securities

Cash, cash equivalents and marketable securities are classified as current unless mentioned otherwise below and consisted of the following:


	As of March 31, 2022
(in thousands)	Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value
Cash and cash equivalents	$	233,317	$	—	$	—	$	233,317
Commercial paper	132,131		—		(311)		131,820
U.S. government agency bonds	35,229		—		(78)		35,151
Asset-backed securities	6,013		—		(15)		5,998
Corporate debt securities	4,514		—		(6)		4,508
Money market	350		—		—		350
Certificates of deposit	51		—		—		51
	$	411,605	$	—	$	(410)	$	411,195
Included in cash and cash equivalents	$	233,317	$	—	$	—	$	233,317
Included in marketable securities	178,288		—		(410)		177,878
Total cash, cash equivalents, and marketable securities	$	411,605	$	—	$	(410)	$	411,195


	As of December 31, 2021
(in thousands)	Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value
Cash and cash equivalents	$	245,197	$	—	$	—	$	245,197
Commercial paper	174,578		7		(54)		174,531
Corporate debt securities	32,322		—		(11)		32,311
Asset-backed securities	30,070		—		(14)		30,056
Money market	350		—		—		350
Certificate of deposit	51		—		—		51
	$	482,568	$	7	$	(79)	$	482,496
Included in cash and cash equivalents	$	245,197	$	—	$	—	$	245,197
Included in marketable securities	237,371		7		(79)		237,299
Total cash, cash equivalents, and marketable securities	$	482,568	$	7	$	(79)	$	482,496

Schedule of Cash, Cash Equivalents, and Restricted Cash


	As of March 31,
(in thousands)	2022		2021
Cash and cash equivalents	$	233,317	$	184,833
Restricted cash	4,506		3,216
Cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows	$	237,823	$	188,049

Inventories (Tables)

3 Months Ended

Mar. 31, 2022

Inventory Disclosure [Abstract]

Schedule of Inventories for the Period

The following table summarizes the components of inventories:


(in thousands)	March 31, 2022		December 31, 2021
Raw materials	$	12,504	$	12,289
Work-in-process	8,526		10,699
Finished goods	3,294		3,830
Total inventories	$	24,324	$	26,818

Debt (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Schedule of Liability Components of Long-Term Debt

The Company's debt consists of the following:


(in thousands)	March 31, 2022		December 31, 2021
Senior Secured Term Loan due 2026:
Principal	$	400,000	$	400,000
Less: debt discount (1)	(5,710)		(6,074)
Less: deferred financing (1)	(4,296)		(4,569)
Net carrying value of Long-term debt	$	389,994	$	389,357

______________________________

Components of Total Interest Expense

The following table sets forth interest expense recognized related to the Company's debt for the three months ended March 31, 2022 and 2021, respectively:


	Three Months Ended March 31,
(in thousands)	2022		2021
Contractual interest expense	$	7,500	$	7,521
Amortization of debt discount	$	364	$	332
Amortization of deferred financing	$	273	$	223

Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Fair Value of Options

The fair value of the stock options granted is estimated on the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:


	Three Months Ended March 31,
	2022			2021
Expected stock price volatility	62.3		%	66.7		%
Risk free interest rate	1.5		%	0.4		%
Expected life of options (years)	5.3			5.4
Expected annual dividend per share	$	—		$	—

Schedule of Stock Options Activity

A summary of the Company's stock options for the three months ended March 31, 2022 were as follows:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Years	Aggregate Intrinsic Value
	(in thousands)				(in millions)
Options outstanding, December 31, 2021	14,731	$	11.08
Granted	4,892	$	11.89
Exercised	(149)	$	6.00
Forfeited	(127)	$	12.57
Expired	(43)	$	11.74
Options outstanding, March 31, 2022	19,304	$	11.31	7.1	$	12.3
Vested and unvested expected to vest, March 31, 2022	17,174	$	11.16	6.8	$	12.2
Exercisable at March 31, 2022	9,932	$	10.20	5.1	$	12.0

Schedule of Non-Vested RSU Activity under the Plan

A summary of non-vested RSU activity under the Plan for the three months ended March 31, 2022 is as follows:


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Years	Aggregate Intrinsic Value
	(in thousands)				(in millions)
Non-vested units as of December 31, 2021	7,341	$	13.90
Granted	4,633	$	12.12
Vested	(1,538)	$	12.70
Forfeited	(85)	$	12.57
Non-vested units as of March 31, 2022	10,351	$	13.16	2.7	$	98.0

Schedule of Equity Compensation Expenses

The following table summarizes information related to compensation expense recognized in the Consolidated Statements of Operations related to the equity awards:


	Three Months Ended March 31,
(in thousands)	2022		2021
Research and development expense	$	9,365	$	6,305
Selling, general, and administrative expense	21,286		14,049
Total equity compensation expense	$	30,651	$	20,354

Assets and Liabilities Measured at Fair Value (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Subject to Fair Value Measurements


(in thousands)	Level 2		Total
Assets:
Commercial paper	$	131,820	$	131,820
U.S. government agency bonds	35,151		35,151
Asset-backed securities	5,998		5,998
Money market	5,755		5,755
Corporate debt securities	4,508		4,508
	$	183,232	$	183,232


(in thousands)	Level 2		Level 3		Total
Liabilities:
Contingent consideration payable	$	—	$	19,151	$	19,151
Deferred compensation plan liability	5,405		—		5,405
	$	5,405	$	19,151	$	24,556


(in thousands)	Level 2		Total
Assets:
Corporate debt securities	$	174,531	$	174,531
Commercial paper	32,311		32,311
Asset-backed securities	30,056		30,056
Money market funds	5,150		5,150
	$	242,048	$	242,048


(in thousands)	Level 2		Level 3		Total
Liabilities:
Contingent consideration payable	$	—	$	20,339	$	20,339
Deferred compensation plan liability	4,800		—		4,800
	$	4,800	$	20,339	$	25,139

Schedule of Significant Unobservable Inputs Used in the Valuation of the Contingent Consideration Payable

The following significant unobservable inputs were used in the valuation of the contingent consideration payable of Callidus for the ATB200 Pompe disease program:

Contingent Consideration

Liability

Fair Value as of March 31, 2022

Valuation Technique

Unobservable Input

Range

(in thousands)

Discount rate

7.5%

Clinical and regulatory milestones

19,151

Probability weighted discounted cash flow

Probability of achievement of milestones

75% - 88%

Projected year of payments

2022 - 2023

Schedule of Changes in Continent Consideration Payable

The following table shows the change in the balance of contingent consideration payable for the three months ended March 31, 2022 and 2021, respectively:


	Three Months Ended March 31,
(in thousands)	2022		2021
Balance, beginning of the period	$	20,339	$	25,825
Changes in fair value during the period, included in the Consolidated Statements of Operations	(1,188)		471
Balance, end of the period (1)	$	19,151	$	26,296

______________________________

(1) As certain milestones are expected to be reached within the next twelve months, the March 31, 2022 balance was recorded as a current liability in the Consolidated Balance Sheets.

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Basic and Diluted Net Loss per Common Share (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Schedule of Reconciliation of the Numerator and Denominator Used in Computing Basic and Diluted Net Loss per Common Share

The following table provides a reconciliation of the numerator and denominator used in computing basic and diluted net loss attributable to common stockholders per common share:


	Three Months Ended March 31,
(in thousands, except per share amounts)	2022		2021
Numerator:
Net loss attributable to common stockholders	$	(85,260)	$	(65,664)
Denominator:
Weighted average common shares outstanding — basic and diluted	288,481,741		264,369,317

Schedule of Potential Shares of Common Stock that were Excluded from the Computation as they were Anti-Dilutive Using the Treasury Stock Method

The table below presents potential shares of common stock that were excluded from the computation as they were anti-dilutive using the treasury stock method:


	As of March 31,
(in thousands)	2022	2021
Options to purchase common stock	19,304	15,084
Unvested restricted stock units	10,351	7,466
Convertible notes	—	458
Total number of potentially issuable shares	29,655	23,008

Description of Business (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 2,381,182	$ 2,295,922

- Definition

The cumulative amount of the reporting entity's undistributed earnings or deficit.

+ References + Details

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for doubtful accounts receivable	$ 200
Loss on impairment of assets	6,616	$ 0
Net product sales	$ 78,715	66,402
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life	3 years
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life	5 years
U.S.
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net product sales	$ 24,178	20,853
Ex-U.S.
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net product sales	$ 54,537	$ 45,549

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
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-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
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-Paragraph 4
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Cash, Money Market Funds, and Marketable Securities
Cash and cash equivalents	$ 233,317,000	$ 245,197,000	$ 184,833,000
Available-for-sale debt securities	177,878,000	237,299,000
Realized gain (loss) on debt securities	0	0
Fair value of available-for-sale debt securities in unrealized loss positions	173,500,000	$ 173,400,000
Marketable Securities
Cash, Money Market Funds, and Marketable Securities
Available-for-sale debt securities	$ 177,900,000

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash - Components (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Cash, Money Market Funds, and Marketable Securities
Cash and cash equivalents	$ 233,317	$ 245,197	$ 184,833
Fair value, cash balances	233,317	245,197
Cost, available-for-sale securities	178,288	237,371
Gross unrealized gain, available-for-sale securities	0	7
Gross unrealized loss, available-for-sale securities	(410)	(79)
Fair value, available-for-sale debt securities	177,878	237,299
Cost, cash balances and available-for-sale securities	411,605	482,568
Gross unrealized gain, cash balances and available-for-sale securities	0	7
Gross unrealized loss, cash balances and available-for-sale securities	(410)	(79)
Fair value, cash balances and available-for-sale securities	411,195	482,496
Commercial paper
Cash, Money Market Funds, and Marketable Securities
Corporate debt securities, cost	132,131
Corporate debt securities, gross unrealized gain	0
Corporate debt securities, gross unrealized loss	(311)
Corporate debt securities, fair value	131,820
Cost, available-for-sale securities		174,578
Gross unrealized gain, available-for-sale securities		7
Gross unrealized loss, available-for-sale securities		(54)
Fair value, available-for-sale debt securities		174,531
U.S. government agency bonds
Cash, Money Market Funds, and Marketable Securities
Cost, available-for-sale securities	35,229
Gross unrealized gain, available-for-sale securities	0
Gross unrealized loss, available-for-sale securities	(78)
Fair value, available-for-sale debt securities	35,151
Asset-backed securities
Cash, Money Market Funds, and Marketable Securities
Corporate debt securities, cost	6,013	30,070
Corporate debt securities, gross unrealized gain	0	0
Corporate debt securities, gross unrealized loss	(15)	(14)
Corporate debt securities, fair value	5,998	30,056
Corporate debt securities
Cash, Money Market Funds, and Marketable Securities
Corporate debt securities, cost	4,514	32,322
Corporate debt securities, gross unrealized gain	0	0
Corporate debt securities, gross unrealized loss	(6)	(11)
Corporate debt securities, fair value	4,508	32,311
Money market
Cash, Money Market Funds, and Marketable Securities
Cost, available-for-sale securities	350	350
Gross unrealized gain, available-for-sale securities	0	0
Gross unrealized loss, available-for-sale securities	0	0
Fair value, available-for-sale debt securities	350	350
Certificates of deposit
Cash, Money Market Funds, and Marketable Securities
Cost, available-for-sale securities	51	51
Gross unrealized gain, available-for-sale securities	0	0
Gross unrealized loss, available-for-sale securities	0	0
Fair value, available-for-sale debt securities	$ 51	$ 51

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash - Cash, Cash Equivalents, And Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Cash, Cash Equivalents, and Short-term Investments [Abstract]
Cash and cash equivalents	$ 233,317	$ 245,197	$ 184,833
Restricted cash	4,506		3,216
Cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows	$ 237,823	$ 249,456	$ 188,049	$ 166,162

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 12,504	$ 12,289
Work-in-process	8,526	10,699
Finished goods	3,294	3,830
Total inventories	24,324	26,818
Reserve for inventory	$ 1,200	$ 1,100

Debt - Summary of Long Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Net carrying value	$ 389,994	$ 389,357
Senior Loans \| Senior Secured Term Loan due 2026
Debt Instrument [Line Items]
Principal	400,000	400,000
Less: debt discount	(5,710)	(6,074)
Less: deferred financing	$ (4,296)	$ (4,569)

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Debt - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended
Debt - Interest Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Debt Disclosure [Abstract]
Contractual interest expense	$ 7,500	$ 7,521
Amortization of debt discount	364	332
Amortization of deferred financing	$ 273	$ 223

Share-Based Compensation - Weighted-average Assumptions (Details) - Options to purchase common stock - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected stock price volatility	62.30%	66.70%
Risk free interest rate	1.50%	0.40%
Expected life of options (years)	5 years 3 months 18 days	5 years 4 months 24 days
Expected annual dividend per share (in dollars per share)	$ 0	$ 0

Share-Based Compensation - Stock Option Activity (Details) - 3 months ended Mar. 31, 2022 shares in Thousands, $ in Millions	USD ($) $ / shares shares	$ / shares
Number of Shares
Options outstanding (in shares) \| shares	14,731
Options, granted (in shares) \| shares	4,892
Options, exercised (in shares) \| shares	(149)
Options, forfeited (in shares) \| shares	(127)
Options, expired (in shares) \| shares	(43)
Options outstanding (in shares) \| shares	19,304
Options, vested and unvested expected to vest (in shares) \| shares	17,174
Options, exercisable (in shares) \| shares	9,932
Weighted Average Exercise Price
Options outstanding (in dollars per share) \| $ / shares	$ 11.08
Options, granted (in dollars per share) \| $ / shares	11.89
Options, exercised (in dollars per share) \| $ / shares	6.00
Options, forfeited (in dollars per share) \| $ / shares	12.57
Options, expired (in dollars per share) \| $ / shares	11.74
Options outstanding (in dollars per share) \| $ / shares	$ 11.31
Options, vested and unvested expected to vest (in dollars per share) \| $ / shares		$ 11.16
Options, exercisable (in dollars per share) \| $ / shares		$ 10.20
Additional Disclosures
Weighted average remaining contractual life, options outstanding	7 years 1 month 6 days
Weighted average remaining contractual life, options vested and unvested expected to vest	6 years 9 months 18 days
Weighted average remaining contractual life, options exercisable	5 years 1 month 6 days
Aggregate intrinsic value, options outstanding \| $	$ 12.3
Aggregate intrinsic value, vested and unvested expected to vest \| $	12.2
Aggregate intrinsic value, exercisable \| $	$ 12.0

Share-Based Compensation - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($)
Options to purchase common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation costs	$ 42.3
Unrecognized compensation costs, period for recognition (in years)	3 years
Unvested restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation costs	$ 73.0
Unrecognized compensation costs, period for recognition (in years)	3 years

Share-Based Compensation - RSUs and PBRSUs Summary (Details) - Unvested restricted stock units shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($) $ / shares shares
Number of Shares
Non-vested units (in shares) \| shares	7,341
Granted (in shares) \| shares	4,633
Vested (in shares) \| shares	(1,538)
Forfeited (in shares) \| shares	(85)
Non-vested units (in shares) \| shares	10,351
Weighted Average Grant Date Fair Value
Non-vested units (in dollars per share) \| $ / shares	$ 13.90
Granted (in dollars per share) \| $ / shares	12.12
Vested (in dollars per share) \| $ / shares	12.70
Forfeited (in dollars per share) \| $ / shares	12.57
Non-vested units (in dollars per share) \| $ / shares	$ 13.16
Additional Disclosures
Non-vested units, weighted average remaining years	2 years 8 months 12 days
Non-vested units, aggregate intrinsic value \| $	$ 98.0

Share-Based Compensation - Expense Summary (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity compensation expense	$ 30,651	$ 20,354
Research and development expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity compensation expense	9,365	6,305
Selling, general, and administrative expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity compensation expense	$ 21,286	$ 14,049

Assets and Liabilities Measured at Fair Value - Components by Hierarchy Level (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets:
Fair value of assets	$ 183,232	$ 242,048
Liabilities:
Contingent consideration payable	19,151	20,339
Deferred compensation plan liability	5,405	4,800
Fair value of liabilities	24,556	25,139
Commercial paper
Assets:
Fair value of assets	131,820	32,311
U.S. government agency bonds
Assets:
Fair value of assets	35,151
Asset-backed securities
Assets:
Fair value of assets	5,998	30,056
Money market
Assets:
Fair value of assets	5,755	5,150
Corporate debt securities
Assets:
Fair value of assets	4,508	174,531
Level 2
Assets:
Fair value of assets	183,232	242,048
Liabilities:
Contingent consideration payable	0	0
Deferred compensation plan liability	5,405	4,800
Fair value of liabilities	5,405	4,800
Level 2 \| Commercial paper
Assets:
Fair value of assets	131,820	32,311
Level 2 \| U.S. government agency bonds
Assets:
Fair value of assets	35,151
Level 2 \| Asset-backed securities
Assets:
Fair value of assets	5,998	30,056
Level 2 \| Money market
Assets:
Fair value of assets	5,755	5,150
Level 2 \| Corporate debt securities
Assets:
Fair value of assets	4,508	174,531
Level 3
Liabilities:
Contingent consideration payable	19,151	20,339
Deferred compensation plan liability	0	0
Fair value of liabilities	$ 19,151	$ 20,339

Assets and Liabilities Measured at Fair Value - Significant Unobservable Inputs (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration payable	$ 19,151	$ 20,339
Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration payable	19,151	$ 20,339
Callidus Biopharma Inc \| Clinical and regulatory milestones \| ATB200 Pompe Program
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration payable	$ 19,151
Callidus Biopharma Inc \| Clinical and regulatory milestones \| Probability of achievement of milestones \| ATB200 Pompe Program \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, measurement input	75.00%
Callidus Biopharma Inc \| Clinical and regulatory milestones \| Probability of achievement of milestones \| ATB200 Pompe Program \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, measurement input	88.00%
Callidus Biopharma Inc \| Clinical and regulatory milestones \| Discount rate \| Discount rate \| ATB200 Pompe Program \| Probability weighted discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, measurement input	7.50%

Assets and Liabilities Measured at Fair Value - Contingent Consideration Roll Forward (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of the period	$ 20,339	$ 25,825
Changes in fair value during the period, included in the Consolidated Statements of Operations	(1,188)	471
Balance, end of the period	$ 19,151	$ 26,296

Basic and Diluted Net Loss per Common Share (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($) shares	Mar. 31, 2021 USD ($) shares	Mar. 31, 2022 $ / shares
Numerator:
Net loss attributable to common stockholders \| $	$ (85,260)	$ (65,664)
Denominator:
Weighted average common shares outstanding - basic (in shares)	288,481,741	264,369,317
Weighted average number of shares outstanding - diluted (in shares)	288,481,741	264,369,317
Antidilutive securities excluded from computation of diluted earnings per share (in shares)	29,655,000	23,008,000
Private Placement
Denominator:
Warrants exercise price (in dollars per share) \| $ / shares			$ 0.01
Options to purchase common stock
Denominator:
Antidilutive securities excluded from computation of diluted earnings per share (in shares)	19,304,000	15,084,000
Unvested restricted stock units
Denominator:
Antidilutive securities excluded from computation of diluted earnings per share (in shares)	10,351,000	7,466,000
Convertible notes
Denominator:
Antidilutive securities excluded from computation of diluted earnings per share (in shares)	0	458,000