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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (299,512) $ (162,696)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 44,306 22,223
Depreciation and amortization expense 435 250
Amortization of debt issuance costs and discount 1,127 987
Changes in operating assets and liabilities:    
Trade receivables, net (6,899) 0
Prepaid expenses and other current assets (11,813) (582)
Inventory (7,072) 0
Accounts payable (19,047) (6,297)
Accrued expense 25,631 (9,700)
Accrued interest, net of interest received on maturity of investments (11,258) (3,562)
Net cash used in operating activities (284,102) (159,377)
Cash flows from investing activities:    
Purchases of marketable securities (364,988) (290,696)
Sales and maturities of marketable securities 346,431 100,204
Acquisition of intangible asset (5,000) 0
Purchases of property and equipment, net of disposals (488) (104)
Net cash used in investing activities (24,045) (190,596)
Cash flows from financing activities:    
Proceeds from issuance of loan payable 0 50,000
Payment of debt issuance costs 0 (288)
Net cash provided by financing activities 707,829 95,620
Net increase (decrease) in cash, cash equivalents, and restricted cash 399,682 (254,353)
Cash, cash equivalents, and restricted cash at beginning of period 99,915 331,549
Cash, cash equivalents, and restricted cash at end of period 499,597 77,196
Nonrelated Party    
Cash flows from financing activities:    
Proceeds from issuance or sale of equity 397,510 21,754
Related Party    
Cash flows from financing activities:    
Proceeds from issuance or sale of equity $ 310,319 $ 24,154