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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 $ (474,186) $ (267,892) $ (134,231)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 7,572 6,891 6,311
(Gain) loss on disposal of property and equipment (162) 0 35
Equity-based compensation 91,400 47,009 19,903
Amortization of investment premiums 4,003 7,604 538
Loss from equity method investment 11,079 1,325 0
Deferral of equity method investment intra-entity profit on sales 11,405 2,937 0
Change in fair value of contingent consideration 13,485 0 0
In-process research and development charge 55,990 0 0
Changes in operating assets and liabilities:      
Accounts receivable (1,737) 99 2,490
Prepaid expenses and other current assets (2,160) (9,798) (9,206)
Operating lease right-of-use assets 13,121 9,349 6,457
Other assets (1,091) 117 83
Accounts payable (4,584) 529 5,060
Accrued expenses 15,924 17,260 13,031
Deferred revenue (63,464) (31,355) 45,121
Operating lease liabilities (9,882) (9,105) (5,504)
Net cash used in operating activities (333,287) (225,030) (49,912)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment (13,558) (12,756) (3,585)
Purchases of marketable securities (429,032) (1,020,620) (473,702)
Maturities of marketable securities 647,581 485,598 262,800
Proceeds from sale of property and equipment 150 0 0
Acquired in-process research and development, net of cash acquired of $287 (44,832) 0 0
Investment in Kyverna Therapeutics, Inc. 0 (3,000) 0
Net cash provided by (used in) investing activities 160,309 (550,778) (214,487)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from options exercised 14,517 41,094 11,574
Issuance of shares through employee stock purchase plan 2,649 2,024 1,557
Net cash provided by financing activities 582,955 736,688 371,779
Net increase (decrease) in cash and cash equivalents and restricted cash equivalents 409,977 (39,120) 107,380
Cash and cash equivalents and restricted cash equivalents, beginning of period 125,486 164,606 57,226
Cash and cash equivalents and restricted cash equivalents, end of period 535,463 125,486 164,606
Reconciliation of cash, cash equivalents and restricted cash equivalents to consolidated balance sheet:      
Cash and cash equivalents 523,506 123,406 160,020
Restricted cash equivalents, included in investments and other assets 11,957 2,080 4,586
Total cash and cash equivalents and restricted cash equivalents 535,463 125,486 164,606
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Purchases of property and equipment unpaid at period end 1,623 667 1,508
Right-of-use assets acquired under operating leases 67,053 49,378 26,432
Contingent consideration liability assumed in asset acquisition 10,541 0 0
Non-cash Trade-in Of Property and Equipment 200 0 0
Regeneron Pharmaceuticals Inc. [Member]      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock 0 0 12,580
AvenCell Therapeutics, Inc [Member]      
Adjustments to reconcile net loss to net cash used in operating activities:      
Loss from equity method investment (11,400) (2,900)  
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Non-cash contribution of intellectual property 0 62,900 0
Sparing Vision SAS [Member]      
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Non-cash contribution of intellectual property 0 14,759 0
Kyverna Therapeutics, Inc. [Member]      
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Non-cash contribution of intellectual property 0 7,000 0
Follow On Public Offering      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock 337,892 648,315 296,607
At The Market Offerings      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock $ 227,897 $ 45,255 $ 49,461