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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net (loss) income $ (365,051) $ 646,062
Reconciliation of net (loss) income to net cash used in operating activities:    
Depreciation and amortization 13,308 6,368
Equity-based compensation 50,597 50,423
Other non-cash items, net 9,671 4,417
Changes in:    
Accounts receivable 239 (6)
Prepaid expenses and other assets 2,032 (9,470)
Accounts payable and accrued expenses 8,303 13,427
Deferred revenue (1,011) (271)
Operating lease assets and liabilities 5,865 1,259
Other liabilities, net (1,148) (5,870)
Net cash used in operating activities (277,195) 706,339
Investing activities:    
Purchase of property, plant and equipment (24,980) (35,473)
Purchases of marketable securities (597,136) (715,982)
Maturities of marketable securities 451,529 289,921
Net cash used in investing activities (170,587) (461,534)
Financing activities:    
Proceeds from issuance of common shares, net of issuance costs 0 213,267
Proceeds from exercise of options and ESPP contributions, net of issuance costs 21,002 21,167
Net cash provided by financing activities 21,002 234,434
Effect of exchange rate changes on cash (95) 10
(Decrease) increase in cash (426,875) 479,249
Cash, cash equivalents and restricted cash, beginning of period 939,944 1,185,468
Cash, cash equivalents and restricted cash, end of period 513,069 1,664,717
Supplemental disclosure of non-cash investing and financing activities    
Property and equipment purchases in accounts payable and accrued expenses 5,016 7,533
Equity issuance costs in accounts payable and accrued expenses 241 $ 402
Leasehold improvements paid directly by landlord $ 19,252