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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 loss $ (250,157) $ (65,578) $ (89,127)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Stock-based compensation expense 25,482 20,222 8,824
Depreciation and amortization expense 6,629 5,947 6,578
Non-cash operating lease cost 5,224 3,275 2,315
Accretion (amortization) of discount (premium) on issued debt securities 688 498 446
Amortization of debt issuance costs 705 2,526 551
Collaboration (profit) loss sharing - related party 1,004 (1,732) 0
Changes in operating assets and liabilities:      
Prepaid expenses and other current and non-current assets (12,599) (12,337) (2,186)
Accounts receivable 0 9,387 (7,602)
Deferred revenue - related party (7,128) (4,357) (11,565)
Accounts payable 2,203 9,362 (1,159)
Operating lease liabilities (4,203) (3,550) (4,456)
Accrued expenses and other current and long-term liabilities [1] 3,336 43,025 3,771
Net cash (used in) provided by operating activities (228,816) 6,688 (93,610)
Cash flows from investing activities:      
Purchases of property and equipment (9,821) (9,566) (591)
Purchases of investments (48,221) (95,971) (218,284)
Sales and maturities of investments 140,470 169,625 59,984
Net cash provided by (used in) investing activities 82,428 64,088 (158,891)
Cash flows from financing activities:      
Proceeds from issuance of common stock 96,721 0 243,748
Proceeds from Securities Purchase Agreement, net of issuance costs - related party 0 0 19,900
Proceeds from issuance of note payable 27,606 0 0
Proceeds from at the market equity offering, net of commissions 4,447 0 24,773
Proceeds from exercise of stock options 966 1,299 14,421
Proceeds from issuance of common stock and restricted common stock 0 0 120
Issuance of common stock under ESPP 1,769 827 462
Repayment of notes payable (1,907) (948) 0
Net cash provided by financing activities 129,602 1,178 303,424
Net increase (decrease) in cash, cash equivalents and restricted cash (16,786) 71,954 50,923
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1) (1) 0
Cash, cash equivalents and restricted cash at beginning of year 188,002 116,049 65,126
Cash, cash equivalents and restricted cash at end of year 171,215 188,002 116,049
Supplemental disclosure of cash flow information:      
Cash paid for interest 4,926 2,446 2,453
Supplemental disclosure of non-cash investing and financing activities:      
Property and equipment purchases included in accounts payable and accrued expenses 2,276 874 451
Lease liability arising from obtaining right-of-use assets 91,412 12,442 0
Prepaid rent reclassified to right-of-use assets $ 6,822 $ 0 $ 0
[1] Includes related party amounts of $3,087 and $31,683 at December 31, 2022 and 2021 respectively (see Note 11)