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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ 92,105 $ (1,073)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 348 2,080
Noncash lease expense 197 279
Loss on equity method investment 591
Stock-based compensation expense 4,051 3,883
Amortization of premium on short-term investments 38 162
Loss on disposal of property and equipment 6
Gain on sale of business (131,249)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 507 (870)
Accounts payable 7,701 (100)
Accrued expenses and other liabilities (4,988) (4,540)
Accrued income taxes 967
Deferred revenue (802) (29,029)
Operating lease liabilities (150) (621)
Net cash used in operating activities (30,684) (29,823)
Cash flows from investing activities:    
Purchases of short-term investments (84,418)
Maturities of short-term investments 39,461
Proceeds from sale of business 130,000
Purchases of property and equipment (1,149) (817)
Net cash (used in) provided by investing activities 168,312 (85,235)
Cash flows from financing activities:    
Proceeds from issuance of common stock pursuant to ATM, net of discounts and issuance costs 1,454
Proceeds from issuance of common stock pursuant to employee stock purchase plan 439 446
Proceeds from issuance of common stock from option exercises 1 143
Net cash provided by financing activities 440 2,043
Net change in cash, cash equivalents and restricted cash 138,068 (113,015)
Cash, cash equivalents and restricted cash, beginning of period 110,335 218,705
Cash, cash equivalents and restricted cash, end of period 248,403 105,690
Supplemental disclosures of noncash investing and financing activities:    
Reclassification of liability for common stock vested 4
Property and equipment additions included in accounts payable 59 367
Property and equipment additions included in accrued expenses and other liabilities 5 164
Unrealized gain (loss) on available for sale securities, net $ 7 $ (23)