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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 $ (36,329) $ (190,228) $ (105,385)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 6,329 5,870 3,775
Stock-based compensation 40,785 30,522 16,281
Amortization of premiums and accretion of discounts on marketable securities 2,099 584 (4,701)
Amortization of right-of-use assets 1,986 1,395 1,799
Impairment loss on right-of-use assets 0 238 1,158
Loss from disposal of property and equipment, net 0 107 (39)
Changes in operating assets and liabilities:      
Receivable from collaboration partner (7,391) 0 0
Prepaid expenses and other current assets 1,132 (3,839) (1,596)
Other assets (2,957) (2,498) (42)
Accounts payable 1,917 2,409 152
Accrued liabilities and accrued clinical supply costs 2,391 12,232 9,210
Deferred revenue 292,915 (21,098) (21,219)
Lease liabilities (4,012) (2,407) 868
Other long-term liabilities (314) (21) 353
Net cash provided by (used in) operating activities 298,551 (166,734) (99,308)
Cash flows from investing activities:      
Purchase of property and equipment (3,247) (5,032) (15,265)
Purchase of marketable securities (343,402) (506,809) (529,609)
Sale of marketable securities 10,696 0 0
Maturities of marketable securities 286,290 406,790 496,000
Net cash used in investing activities (49,663) (105,051) (48,874)
Cash flows from financing activities:      
Proceeds from issuance of common stock upon initial public offering, net of issuance costs 0 224,603 170,036
Proceeds from the exercise of options to purchase common stock 28,530 6,331 1,519
Proceeds from issuance of stock from employee stock purchase plan 1,765 1,179 798
Net cash provided by financing activities 30,295 232,113 172,353
Net increase (decrease) in cash, cash equivalents, and restricted cash 279,183 (39,672) 24,171
Cash, cash equivalents, and restricted cash at beginning of period 51,441 91,113 66,942
Cash, cash equivalents, and restricted cash at end of period 330,624 51,441 91,113
Non-cash investing and financing activities:      
Property and equipment purchases included in accounts payable and accrued liabilities 705 428 3,471
Deferred offering costs in accrued liabilities 0 0 465
Tenant improvements paid by landlord $ 0 $ 0 $ 8,286