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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (267,892) $ (134,231) $ (99,533)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 6,891 6,311 5,587
Equity-based compensation 47,009 19,903 15,091
Amortization/(accretion) of investment premiums/(discounts) 7,604 538 3,725
Loss from equity method investments 1,325 0 0
Deferral of equity method investment intra-entity profit on sales 2,937 0 0
Loss on disposal of property and equipment 0 35 1
Changes in operating assets and liabilities:      
Accounts receivable 99 2,490 2,927
Prepaid expenses and other current assets (9,798) (9,206) (1,763)
Operating lease right-of-use assets 9,349 6,457 5,728
Other assets 117 83 153
Accounts payable 529 5,060 1,880
Accrued expenses 17,260 13,031 2,310
Deferred revenue (31,355) 45,121 (27,122)
Operating lease liabilities (9,105) (5,504) (4,774)
Net cash used in operating activities (225,030) (49,912) (103,240)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment (12,756) (3,585) (6,794)
Purchases of marketable securities (1,020,620) (473,702) (297,030)
Maturities of marketable securities 485,598 262,800 329,000
Investment in Kyverna Therapeutics, Inc. (3,000) 0 0
Net cash (used in) provided by investing activities (550,778) (214,487) 25,176
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock 1,817,900    
Proceeds from options exercised 41,094 11,574 3,086
Issuance of shares through employee stock purchase plan 2,024 1,557 1,092
Net cash provided by financing activities 736,688 371,779 76,434
Net (decrease) increase in cash and cash equivalents and restricted cash equivalents (39,120) 107,380 (1,630)
Cash and cash equivalents and restricted cash equivalents, beginning of period 164,606 57,226 58,856
Cash and cash equivalents and restricted cash equivalents, end of period 125,486 164,606 57,226
Reconciliation of cash, cash equivalents and restricted cash equivalents to consolidated balance sheet:      
Cash and cash equivalents 123,406 160,020 57,226
Restricted cash equivalents, included in investments and other assets 2,080 4,586 0
Cash and cash equivalents and restricted cash equivalents, end of period 125,486 164,606 57,226
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Purchases of property and equipment unpaid at period end 667 1,508 800
Right-of-use assets acquired under operating leases 49,378 26,432 2,554
Regeneron Pharmaceuticals Inc. [Member]      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock 0 12,580 0
AvenCell Therapeutics, Inc [Member]      
Adjustments to reconcile net loss to net cash used in operating activities:      
Loss from equity method investments 2,900    
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Non-cash contribution of intellectual property 62,900 0 0
Sparing Vision SAS [Member]      
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Non-cash contribution of intellectual property 14,759 0 0
Kyverna Therapeutics, Inc. [Member]      
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Non-cash contribution of intellectual property 7,000 0 0
Follow On Public Offering      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock 648,315 296,607 0
At The Market Offerings      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock $ 45,255 $ 49,461 $ 72,256