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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (107,436) $ (103,126)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,512 2,050
Stock-based compensation 34,176 27,255
Accretion of investment discounts and premiums (5,285) (4,571)
(Recognition) deferral of equity method investment intra-entity profit on sales (20,967) 2,812
Change in fair value of investments 6,065 0
Loss from equity method investment 0 3,048
Change in fair value of contingent consideration 0 100
Changes in operating assets and liabilities:    
Accounts receivable 29 (1,138)
Prepaid expenses and other current assets (8,746) (4,815)
Operating lease right-of-use assets 4,951 4,658
Other assets 724 (393)
Accounts payable 5,569 1,170
Accrued expenses (22,403) (17,392)
Deferred revenue (5,368) (14,566)
Operating lease liabilities (4,483) (4,420)
Net cash used in operating activities (120,662) (109,328)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (2,506) (3,832)
Purchases of marketable securities (259,558) (382,033)
Maturities of marketable securities 267,965 263,617
Net cash provided by (used in) investing activities 5,901 (122,248)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from options exercised 1,958 755
Net cash provided by financing activities 59,992 2,221
Net decrease in cash, cash equivalents and restricted cash equivalents (54,769) (229,355)
Cash, cash equivalents and restricted cash equivalents, beginning of period 240,353 535,463
Cash, cash equivalents and restricted cash equivalents, end of period 185,584 306,108
Reconciliation of cash, cash equivalents and restricted cash equivalents to condensed consolidated balance sheet:    
Cash and cash equivalents 171,979 294,150
Restricted cash equivalents, included in investments and other assets 13,605 11,958
Total cash, cash equivalents and restricted cash equivalents 185,584 306,108
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Purchases of property and equipment unpaid at period end 847 3,525
Shares issued for Rewrite contingent consideration 0 24,126
At The Market Offerings [Member]    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from issuance of common stock through at-the-market offerings $ 58,034 $ 1,466