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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities    
Net loss $ (290,574) $ (242,922)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 64,513 50,661
Amortization of right of use asset 8,932 7,750
Depreciation and amortization 6,496 1,766
Accretion (amortization) of discounts and premiums on investments 1,128 5,177
Loss on write-off of fixed assets 314 0
Changes in assets and liabilities:    
Prepaid expenses, other assets and long-term assets (4,976) 517
Operating lease liabilities, net of tenant improvement allowance received 366 (5,389)
Accounts payable 4,327 (740)
Accrued expenses and other liabilities (5,612) 9,088
Net cash used in operating activities (215,086) (174,092)
Cash Flows from Investing Activities    
Maturities of investments 423,586 544,454
Purchase of investments (150,189) (583,654)
Purchase of property and equipment (17,403) (30,006)
Net cash provided by / (used in) investing activities 255,994 (69,206)
Cash Flows from Financing Activities    
Tax payments related to shares withheld for vested restricted stock units (2,649) 0
Proceeds from the issuance of common stock under employee stock purchase plan 582 970
Proceeds from the issuance of common stock upon exercise of options 1,642 29,992
Proceeds from the issuance of common stock, net 0 203,156
Proceeds from the issuance of debt 0 1,000
Net cash (used in) / provided by financing activities (425) 235,118
Net increase in cash, cash equivalents and restricted cash 40,483 (8,180)
Cash, Cash Equivalents and Restricted Cash Beginning of Period 84,313 72,854
Cash, Cash Equivalents and Restricted Cash End of Period 124,796 64,674
Supplemental disclosure of non-cash investing and financing activities:    
Net unrealized (loss) on investments (1,437) (24)
Acquisition of property and equipment included in accounts payable and accrued expenses 1,626 5,729
Conversion of convertible preferred stock to common stock 0 (1)
Lease liabilities arising from obtaining right-of-use asset from new leases 553 17,275
Lease liabilities arising from obtaining right-of-use asset from lease modifications $ 7,664 $ 7,800