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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities:    
Net loss $ (523,403) $ (538,392)
Non-cash adjustments reconciling net loss to operating cash flows    
Change in fair value on long-term investment (94) 6,336
Depreciation and amortization expense 3,297 2,038
Amortization of premium and accretion of discounts on investments (16,480) (151)
Share-based compensation expense 130,913 124,581
Loss on disposal of property and equipment 0 (294)
Foreign currency adjustments 0 (9,485)
Changes in operating assets and liabilities:    
Accounts receivable, net (13,786) 0
Inventory (17,136) 0
Other current assets (3,600) (8,149)
Other long-term assets (3,174) (2,009)
Right-of-use asset 1,056 1,220
Lease liability (1,282) 4,039
Accounts payable, accrued liabilities and other liabilities (21,606) (22,092)
Cash flows used in operating activities (465,295) (441,770)
Investing activities:    
Purchases of short-term investments (705,418) (719,371)
Sales and maturities of short-term investments 854,934 889,918
Purchases of property and equipment (1,027) (4,041)
Cash flows provided by investing activities 148,489 166,506
Financing activities:    
Proceeds from issuance of common stock and warrants, net of issuance costs 332,515 155,011
Proceeds from issuance of common stock under equity incentive plans 4,427 5,018
Proceeds from issuance of common stock from employee stock purchase plan 3,328 995
Cash flows provided by financing activities 340,270 161,024
Effect of exchange rate changes on cash, cash equivalents and restricted cash (6) 0
Increase (decrease) in cash, cash equivalents and restricted cash 23,458 (114,240)
Cash, cash equivalents and restricted cash, beginning of period 235,880 413,703
Cash, cash equivalents and restricted cash, end of period 259,338 299,463
Reconciliation of cash, cash equivalents and restricted cash, end of period:    
Cash and cash equivalents 258,718 298,843
Restricted cash included in other long-term assets 620 620
Total cash, cash equivalents and restricted cash 259,338 299,463
Supplemental disclosures of non-cash investing activities:    
Accrued capital expenditures $ 0 $ 367