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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 $ (133,310) $ (36,329) $ (190,228)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 5,714 6,329 5,870
Stock-based compensation 46,146 40,785 30,522
Amortization of premiums and accretion of discounts on marketable securities (1,163) 2,099 584
Amortization of right-of-use assets 2,758 1,986 1,395
Impairment loss on right-of-use assets 0 0 238
Loss from disposal of property and equipment, net 0 0 107
Changes in operating assets and liabilities:      
Receivable from collaboration partner 4,804 (7,391) 0
Prepaid expenses and other current assets (3,926) 1,132 (3,839)
Other assets (835) (2,957) (2,498)
Accounts payable (572) 1,917 2,409
Accrued liabilities and accrued clinical supply costs (2,655) 2,391 12,232
Deferred revenue 66,383 292,915 (21,098)
Lease liabilities (4,274) (4,012) (2,407)
Other long-term liabilities 601 (314) (21)
Net cash provided by (used in) operating activities (20,329) 298,551 (166,734)
Cash flows from investing activities:      
Purchase of property and equipment (4,117) (3,247) (5,032)
Purchase of marketable securities (556,898) (343,402) (506,809)
Sale of marketable securities 0 10,696 0
Maturities of marketable securities 402,001 286,290 406,790
Net cash used in investing activities (159,014) (49,663) (105,051)
Cash flows from financing activities:      
Proceeds from issuance of common stock upon public offerings, net of issuance costs 0 0 224,603
Proceeds from the exercise of options to purchase common stock 3,059 28,530 6,331
Proceeds from issuance of stock from employee stock purchase plan 1,455 1,765 1,179
Net cash provided by financing activities 4,514 30,295 232,113
Net increase (decrease) in cash, cash equivalents, and restricted cash (174,829) 279,183 (39,672)
Cash, cash equivalents, and restricted cash at beginning of period 330,624 51,441 91,113
Cash, cash equivalents, and restricted cash at end of period 155,795 330,624 51,441
Non-cash investing and financing activities:      
Property and equipment purchases included in accounts payable and accrued liabilities $ 493 $ 705 $ 428