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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net loss $ (96,792) $ (81,478)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 37,271 35,073
Depreciation and amortization expense 312 156
Accretion of premium and discounts on marketable securities (11,101) (2,465)
Changes in operating assets and liabilities:    
Accounts receivable   (4,514)
Prepaid expenses and other current assets 6,023 (4,484)
Other assets 98  
Accounts payable (2,156) (3,416)
Accrued expenses and other liabilities 2,904 (39,109)
Operating lease liabilities (120) 800
Net cash used in operating activities (63,561) (99,437)
Cash flows from investing activities    
Additions to property and equipment   (1,943)
Purchases of marketable securities (515,132) (486,955)
Sales and maturities of marketable securities 527,664 0
Net cash provided by (used in) investing activities 12,532 (488,898)
Cash flows from financing activities    
Proceeds from issuance of common stock for exercise of stock options   230
Proceeds from issuance of common stock under ESPP 257 140
Net cash provided by financing activities 257 370
Net decrease in cash, cash equivalents and restricted cash (50,772) (587,965)
Cash, cash equivalents and restricted cash at the beginning of period 188,658 764,680
Cash, cash equivalents and restricted cash at the end of period 137,886 176,715
Cash, cash equivalents and restricted cash at the end of period:    
Cash and cash equivalents 137,886 176,410
Restricted cash   305
Total cash, cash equivalents and restricted cash $ 137,886 176,715
Supplemental cash flow information:    
Right of use assets obtained in exchange for operating lease liabilities   $ 2,938