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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net income (loss) $ (532,784) $ (457,892) $ 606,073
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Stock-based compensation expense 61,602 104,629 95,994
Premium on marketable securities (1,500) (23,641) (1,736)
Amortization of premium (discount) on marketable securities 5,853 13,046 1,048
Depreciation expense 1,122 4,182 2,630
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (10,985) (17,020) 3,879
Collaboration receivable - related party 4,846 (18,506)  
Other long-term assets (519) (910) 452
Right-of-use operating asset 5,577 5,221 6,397
Operating lease liabilities, current 175 206 36
Operating lease liabilities, non-current (6,473) (5,944) (6,825)
Accounts payable 8,433 6,689 (11,511)
Accrued expenses and other liabilities 4,617 11,758 (32,157)
Net cash provided by (used in) operating activities (460,036) (378,182) 664,280
Cash flows from investing activities      
Proceeds from sales and maturities of marketable securities 1,207,407 988,075 901,749
Purchases of marketable securities (881,037) (1,990,151) (458,720)
Purchases of property and equipment (937) (372) (345)
Net cash provided by (used in) investing activities 325,433 (1,002,448) 442,684
Cash flows from financing activities      
Proceeds from stock option exercises and employee stock purchase plan issuances 3,113 14,719 9,262
Payment of employee tax obligations related to vesting of restricted stock units (43) (1,385)  
Proceeds from the sale of common stock under the Stock Purchase Agreement - related party     417,500
Net cash provided by financing activities 3,070 13,334 426,762
Net increase (decrease) in cash, cash equivalents and restricted cash (131,533) (1,367,296) 1,533,726
Cash, cash equivalents and restricted cash at beginning of period 295,502 1,662,798 129,072
Cash, cash equivalents and restricted cash at end of period 163,969 295,502 1,662,798
Supplemental disclosure of non-cash operating and investing activities      
Purchases of property and equipment included in accounts payable $ 137 70  
Lease asset de-recognized upon lease cancellation   $ 3,733 $ 2,310