XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities:    
Net loss $ (155,140) $ (124,822)
Adjustments to reconcile net loss to net cash used in operating activities:    
Accretion of discount on convertible notes 0 752
Depreciation and amortization of property and equipment 2,883 2,188
Write down of property and equipment, net 177 0
Right of use asset 1,605 0
Stock-based compensation 21,316 22,200
Accretion of discount on investments, net 1,132 2,089
Expense in connection with warrant issuance 0 7,578
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (1,278) 1,016
Accounts payable and accrued expenses 7,189 (2,842)
Operating lease liabilities (96) 17
Finance lease liability 134 1,644
Other liabilities (43) (42)
Net cash used in operating activities (122,121) (90,222)
Investing activities:    
Purchases of investments (177,460) (226,484)
Proceeds from maturities of investments 222,074 234,146
Payments made to acquire right of use asset 0 (18)
Purchases of property and equipment (5,355) (5,655)
Net cash provided by investing activities 39,259 1,989
Financing activities:    
Issuance of common stock, pursuant to exercise of stock options 308 10,191
Issuance of common stock, net of issuance costs 0 26,354
Issuance of common stock pursuant to the at-the-market offering program, net of issuance costs 46,540 0
Net cash provided by financing activities 46,848 36,545
Net change in cash, cash equivalents and restricted cash (36,014) (51,688)
Cash, cash equivalents and restricted cash at beginning of period 234,037 298,666
Cash, cash equivalents and restricted cash at end of period 198,023 246,978
Supplemental disclosure of non-cash financing and investing activities:    
Accrued purchases of property and equipment 1,747 1,132
Unrealized loss on investments (435) (55)
Conversion of convertible notes into common stock 0 (40,693)
Reclassification of construction in process from finance right of use asset 0 39
Supplemental cash flow information:    
Cash paid for interest $ 0 $ 148