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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities:    
Net loss $ (42,982) $ (40,179)
Adjustments to reconcile net loss to net cash used in operating activities:    
Accretion of discount on convertible notes 0 589
Depreciation and amortization of property and equipment 767 674
Amortization of right of use asset 535 0
Write down of property and equipment, net 40 0
Stock-based compensation 6,270 7,900
Accretion of discount on investments, net 577 620
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (3,936) (842)
Accounts payable and accrued expenses (491) 7,047
Operating lease liabilities (33) (15)
Finance lease liability 45 (63)
Other long term liabilities (15) (14)
Net cash used in operating activities (39,223) (24,283)
Investing activities:    
Purchases of investments (143,023) (103,815)
Proceeds from maturities of investments 81,983 74,969
Purchases of property and equipment (1,955) (328)
Net cash used in investing activities (62,995) (29,174)
Financing activities:    
Issuance of common stock, pursuant to exercise of stock options 76 8,792
Net cash provided by financing activities 76 8,792
Net change in cash, cash equivalents and restricted cash (102,142) (44,665)
Cash, cash equivalents and restricted cash at beginning of period 234,037 298,666
Cash, cash equivalents and restricted cash at end of period 131,895 254,001
Supplemental disclosure of non-cash financing and investing activities:    
Accrued purchases of property and equipment 1,635 648
Unrealized loss on investments (468) (33)
Reclassification of construction in process to finance right of use asset 0 325
Supplemental cash flow information:    
Cash paid for interest $ 0 $ 1,347