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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (103,126) $ (146,872)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 2,050 1,754  
Equity-based compensation 27,255 18,491  
Amortization of investment premiums (4,571) 2,426  
Loss from equity method investment 3,048 2,745  
Deferral of equity method investment intra-entity profit on sales 2,812 2,812  
Change in fair value of contingent consideration 100 421  
In-process research and development charge 0 55,990  
Changes in operating assets and liabilities:      
Accounts receivable (1,138) 230  
Prepaid expenses and other current assets (4,815) 422  
Operating lease right-of-use assets 4,658 2,671  
Other assets (393) (918)  
Accounts payable 1,170 (57)  
Accrued expenses (17,392) (3,717)  
Deferred revenue (14,566) (13,995)  
Operating lease liabilities (4,420) (2,204)  
Net cash used in operating activities (109,328) (79,801)  
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment (3,832) (1,429)  
Purchases of marketable securities (382,033) 0  
Maturities of marketable securities 263,617 93,734  
Acquired in-process research and development, net of cash acquired of $287 0 (44,832)  
Net cash (used in) provided by investing activities (122,248) 47,473  
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from options exercised 755 8,435  
Net cash provided by financing activities 2,221 47,320  
Net (decrease) increase in cash and cash equivalents and restricted cash equivalents (229,355) 14,992  
Cash and cash equivalents and restricted cash equivalents, beginning of period 535,463 125,486 $ 125,486
Cash and cash equivalents and restricted cash equivalents, end of period 306,108 140,478 535,463
Reconciliation of cash and cash equivalents and restricted cash equivalents to condensed consolidated balance sheet:      
Cash and cash equivalents 294,150 133,382 523,506
Restricted cash equivalents, included in investments and other assets 11,958 7,096  
Total cash and cash equivalents and restricted cash equivalents 306,108 140,478 $ 535,463
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Purchases of property and equipment unpaid at period end 3,525 3,721  
Shares issued for Rewrite research milestone liability 24,126 0  
Contingent consideration liability assumed in asset acquisition 0 10,541  
At The Market Offerings [Member]      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock $ 1,466 $ 38,885