XML 15 R5.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net loss $ (385,638) $ (333,180)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 46,358 83,981
Premium on marketable securities (1,464) (19,792)
Amortization of premium on marketable securities 7,182 8,722
Depreciation expense 832 3,849
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (13,176) (11,522)
Collaboration receivable - related party 58 (24,185)
Other long-term assets (658) (534)
Right-of-use operating asset 4,139 3,898
Operating lease liabilities, current 135 152
Operating lease liabilities, non-current (4,800) (4,427)
Accounts payable (3,357) 1,042
Accrued expenses and other liabilities 17,285 11,315
Net cash used in operating activities (333,104) (280,681)
Cash flows from investing activities    
Proceeds from sales and maturities of marketable securities 918,816 699,212
Purchases of marketable securities (682,505) (1,671,399)
Purchases of property and equipment (655)  
Net cash provided by (used in) investing activities 235,656 (972,187)
Cash flows from financing activities    
Proceeds from stock option exercises and employee stock purchase plan issuances 3,080 14,300
Payment of employee tax obligations related to vesting of restricted stock units (39) (796)
Net cash provided by financing activities 3,041 13,504
Net decrease in cash, cash equivalents and restricted cash (94,407) (1,239,364)
Cash, cash equivalents and restricted cash at beginning of period 295,502 1,662,798
Cash, cash equivalents and restricted cash at end of period 201,095 423,434
Supplemental disclosure of non-cash operating and investing activities    
Purchases of property and equipment included in accounts payable $ 54  
Lease asset de-recognized upon lease cancellation   $ 3,733