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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (248,315) $ (203,009)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 33,189 49,639
Premium on marketable securities (1,454) (16,873)
Amortization of premium on marketable securities 6,114 4,688
Depreciation expense 554 3,475
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,614) (6,025)
Collaboration receivable - related party (5,216) (48,438)
Other long-term assets (656) (258)
Right-of-use operating asset 2,730 2,602
Operating lease liabilities, current 95 97
Operating lease liabilities, non-current (3,164) (2,945)
Accounts payable (5,225) (774)
Accrued expenses and other liabilities 8,723 5,966
Net cash used in operating activities (214,239) (211,855)
Cash flows from investing activities    
Proceeds from sales and maturities of marketable securities 556,100 360,939
Purchases of marketable securities (431,105) (1,308,143)
Purchases of property and equipment (291)  
Net cash provided by (used in) investing activities 124,704 (947,204)
Cash flows from financing activities    
Proceeds from stock option exercises and employee stock purchase plan issuances 1,836 12,484
Payment of employee tax obligations related to vesting of restricted stock units (24) (796)
Net cash provided by financing activities 1,812 11,688
Net decrease in cash, cash equivalents and restricted cash (87,723) (1,147,371)
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 207,779 515,427
Supplemental disclosure of non-cash operating and investing activities    
Purchases of property and equipment included in accounts payable $ 256  
Lease asset de-recognized upon lease cancellation   $ 3,733