XML 21 R7.htm IDEA: XBRL DOCUMENT v3.22.4
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (198,335) $ (348,101) $ (279,381)
Adjustments to reconcile net loss to net cash used in operating activities:      
Total compensation expense associated with restricted stock grants 19,185 61,274 80,289
Depreciation and amortization 303 282 158
Amortization of premium on investment securities   517  
Amortization of premium (discounts) on investment securities (331)   (30)
Amortization of debt issuance costs 1,844 1,080 925
Amortization of leasehold interest 212 212 216
Noncash change in lease liability and right of use asset 2,715 1,896 2,325
Change in fair value of notes payable (116) (578) 748
Changes in assets and liabilities:      
Decrease (increase) in other current assets 8,181 (8,508) 2,257
Decrease (increase) in accounts receivable 1,389 (1,389)  
(Decrease) increase in accounts payable and accrued expenses (11,010) 15,991 11,631
Decrease in lease liabilities (2,332) (2,012) (1,988)
Increase (decrease) in other current liabilities 2,277 (16,146) (31,505)
Decrease in deferred revenue (152) (152) (152)
Net cash used in operating activities (176,170) (295,634) (214,507)
CASH FLOWS FROM INVESTING ACTIVITIES      
Proceeds from maturity of short-term securities 87,275 55,600 43,250
Investment in held-to-maturity securities (107,274) (55,531) (67,403)
Purchases of PPE (14) (401) (357)
Net cash used in investing activities (20,013) (332) (24,510)
CASH FLOWS FROM FINANCING ACTIVITIES      
Payment of loan payable (975) (30,000)  
Proceeds from sale of common stock, net   2,219 679,680
Proceeds from exercise of options 584 216 147
Offering costs paid   (1,016)  
Proceeds from debt financings   70,000  
Net cash used in financing activities (391) 41,419 679,827
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (196,574) (254,547) 440,810
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 300,151 554,698 113,888
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 103,577 $ 300,151 $ 554,698