XML 25 R7.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities:      
Net loss $ (740,867) $ (581,784) $ (357,937)
Non-cash adjustments reconciling net loss to operating cash flows      
Non-cash consideration earned from license agreement 0 0 (11,424)
Change in fair value of long-term investment 4,753 7,411 (4,205)
Depreciation and amortization expense 2,929 1,781 641
Amortization of premium and accretion of discounts on investments (4,200) 4,702 (674)
Share-based compensation expense 186,188 113,502 85,847
Loss on disposal of fixed assets 294 0 0
Foreign currency adjustments (9,563) 0 0
Changes in operating assets and liabilities:      
Accounts receivable, net (865) 0 0
Inventory (3,020) 0 0
Other current assets (4,596) (3,107) (4,180)
Other long-term assets (2,596) (9,892) (3,424)
Right-of-use asset 1,558 2,210 582
Lease liability 4,285 5,315 (652)
Accounts payable, accrued liabilities and other liabilities (4,870) 71,062 23,895
Cash flows used in operating activities (570,570) (388,800) (271,531)
Investing activities:      
Purchases of short-term investments (956,704) (1,422,729) (662,824)
Sales and maturities of short-term investments 1,187,358 843,623 527,334
Purchases of property and equipment (4,851) (9,795) (4,367)
Cash flows provided by (used in) investing activities 225,803 (588,901) (139,857)
Financing activities:      
Proceeds from issuance of common stock, net of issuance costs 155,011 474,697 1,203,617
Proceeds from issuance of common stock under equity incentive plans 9,925 27,958 45,891
Proceeds from issuances under employee stock purchase plan 2,008 2,567 1,206
Cash flows provided by financing activities 166,944 505,222 1,250,714
(Decrease) increase in cash, cash equivalents and restricted cash (177,823) (472,479) 839,326
Cash, cash equivalents and restricted cash, beginning of year 413,703 886,182 46,856
Cash, cash equivalents and restricted cash, end of year 235,880 413,703 886,182
Reconciliation of cash, cash equivalents and restricted cash, end of year:      
Cash and cash equivalents 235,260 413,083 885,562
Restricted cash included in other long-term assets 620 620 620
Total cash, cash equivalents and restricted cash 235,880 413,703 886,182
Supplemental disclosures of non-cash investing activities:      
Accrued capital expenditures 0 583 292
Capitalized intangible asset included in accrued liabilities 15,000 0 0
Allowance utilized for tenant improvements 0 0 2,015
Initial recognition of operating right-of-use asset 0 0 39,890
Initial recognition of operating lease liability $ 0 $ 0 $ 41,905