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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 $ (204,212) $ (170,060) $ (88,045)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 927 855 1,010
Net amortization of premiums and discounts on marketable securities (1,462) 0 (86)
Stock-based compensation 21,522 18,409 7,172
Other non-cash items 763 723 148
Changes in operating assets and liabilities:      
Accounts receivable (30,000) 0 0
Prepaid expenses and other current assets 3,863 (2,734) (1,950)
Other assets 0 (718) (700)
Accounts payable 947 483 942
Accrued expenses 13,594 12,570 7,280
Operating lease right-of-use assets 2,777 1,829 1,642
Operating lease liabilities (2,539) (1,827) (1,281)
Deferred revenue 143,709 (43) (828)
Other liabilities 748 525 0
Net cash used in operating activities (49,363) (139,988) (74,696)
Cash flows from investing activities      
Maturities of marketable securities 97,000 0 37,500
Purchase of marketable securities (247,519) 0 0
Purchase of property and equipment (2,197) (648) (473)
Net cash used in investing activities (152,716) (648) 37,027
Cash flows from financing activities      
Proceeds from exercise of stock options 1,331 1,837 3,138
Proceeds from purchases of common stock under ESPP 1,065 640 561
Payment of employee tax obligations related to vesting of restricted stock units 0 (259) 0
Proceeds from issuance of debt, net of issuance costs 0 24,042 (197)
Repayment of debt 0 (5,486) 0
Payments under finance lease obligations (272) (215) (116)
Net cash provided by financing activities 153,017 63,646 230,412
Increase (decrease) in cash, cash equivalents and restricted cash (49,062) (76,990) 192,743
Cash, cash equivalents and restricted cash, beginning of period 178,425 255,415 62,672
Cash, cash equivalents and restricted cash, end of period 129,363 178,425 255,415
Supplemental disclosures of non-cash activities:      
Purchases of property and equipment in accounts payable and accrued expenses 753 0 102
Debt financing costs in accrued expenses 150 0 0
Common stock issuance costs in accounts payable and accrued expenses 131 0 0
Cash paid for interest 2,463 429 234
Right-of-use assets obtained in exchange for operating lease liabilities 298 3,783 9,980
Right-of-use assets obtained in exchange for financing lease liabilities 0 609 0
Public Stock Offering      
Cash flows from financing activities      
Net proceeds from issuance of common stock 0 0 163,990
At Market Equity Offering Program      
Cash flows from financing activities      
Net proceeds from issuance of common stock $ 150,893 $ 43,087 $ 63,036