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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net (loss) income $ (539,600) $ 518,909
Reconciliation of net (loss) income to net cash used in operating activities:    
Depreciation and amortization 18,326 11,692
Equity-based compensation 75,142 76,622
Other non-cash items, net 12,251 9,420
Changes in:    
Accounts receivable 256 (8)
Prepaid expenses and other assets 7,062 (18,775)
Accounts payable and accrued expenses 36,261 14,733
Deferred revenue (762) (779)
Operating lease assets and liabilities 10,826 19,679
Other liabilities, net (2,175) (6,483)
Net cash (used in) provided by operating activities (382,413) 625,010
Investing activities:    
Purchase of property, plant and equipment (30,997) (72,522)
Purchases of marketable securities (923,404) (1,386,785)
Maturities of marketable securities 871,278 432,593
Net cash used in investing activities (83,123) (1,026,714)
Financing activities:    
Proceeds from issuance of common shares, net of issuance costs 970 213,267
Proceeds from exercise of options and ESPP contributions, net of issuance costs 35,144 31,379
Net cash provided by financing activities 36,114 244,646
Effect of exchange rate changes on cash (195) (14)
Decrease in cash (429,617) (157,072)
Cash, cash equivalents and restricted cash, beginning of period 939,944 1,185,468
Cash, cash equivalents and restricted cash, end of period 510,327 1,028,396
Supplemental disclosure of non-cash investing and financing activities    
Property and equipment purchases in accounts payable and accrued expenses 4,919 6,264
Equity issuance costs in accounts payable and accrued expenses 299 $ 391
Leasehold improvements paid directly by landlord $ 19,252