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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net loss $ (538,392) $ (382,164)
Non-cash adjustments reconciling net loss to operating cash flows    
Change in fair value on long-term investment 6,336 4,376
Depreciation of property and equipment 2,038 1,219
Amortization of premium and accretion of discounts on investments (151) 3,503
Share-based compensation expense 124,581 79,624
Loss on disposal of fixed assets 294 0
Foreign currency adjustments (9,485) 0
Changes in operating assets and liabilities:    
Other current assets (8,149) (3,939)
Other long-term assets (2,009) (9,218)
Right-of-use asset 1,220 1,718
Lease liability 4,039 3,927
Accounts payable, accrued liabilities and other liabilities (22,092) 50,139
Cash flows used in operating activities (441,770) (250,815)
Investing activities:    
Purchases of short-term investments (719,371) (1,059,140)
Sales and maturities of short-term investments 889,918 648,223
Purchases of property and equipment (4,041) (7,146)
Cash flows provided by (used in) investing activities 166,506 (418,063)
Financing activities:    
Proceeds from Issuance of Common Stock 155,011 0
Proceeds from issuance of common stock under equity incentive plans 5,018 24,726
Proceeds from issuances under employee stock purchase plan 995 1,214
Cash flows provided by financing activities 161,024 25,940
Decrease in cash, cash equivalents and restricted cash (114,240) (642,938)
Cash, cash equivalents and restricted cash, beginning of period 413,703 886,182
Cash, cash equivalents and restricted cash, end of period 299,463 243,244
Reconciliation of cash, cash equivalents and restricted cash, end of period:    
Cash and cash equivalents 298,843 242,624
Restricted cash included in other long-term assets 620 620
Total cash, cash equivalents and restricted cash 299,463 243,244
Supplemental disclosures of non-cash investing activities:    
Accrued capital expenditures $ 367 $ 279