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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net earnings (loss) $ (162,857) $ (146,398) $ 158,519
Cash flows from operating activities:      
Depreciation of property and equipment 12,537 12,758 8,953
Amortization and impairment of intangible assets 78,312 11,637 18,890
Amortization of operating lease right-of-use assets 6,149 6,499 5,259
Stock-based compensation 67,581 64,183 49,481
Fair value (gain) loss on contingent consideration and investments (64,727) (8,018) 3,091
Other (19,708) 2,237 3,342
Changes in operating assets and liabilities:      
Research fee and grant receivable (75,119) (45,933) (22,715)
Accrued royalties receivable 0 9,273 129,171
Income taxes (payable) receivable 6,651 30,464 (88,609)
Accounts payable and accrued liabilities 10,635 (15,104) (2,094)
Deferred revenue (7,931) (13,976) 6,183
Deferred grant income 33,967 39,521 9,264
Other assets 5,954 8,980 (1,375)
Net cash provided by (used in) operating activities (108,556) (43,877) 277,360
Cash flows from investing activities:      
Purchases of property and equipment (78,396) (76,947) (70,660)
Purchase of intangible assets 0 (560) (2,000)
Purchase of marketable securities (765,086) (1,021,510) (763,982)
Proceeds from marketable securities 937,882 910,937 510,631
Receipt of grant funding 35,708 25,311 16,434
Long-term investments and other assets 10,927 (44,649) (17,369)
Investment in and loans to equity accounted investees (19,626) (13,690) (25,679)
Net cash provided by (used in) investing activities 121,409 (221,108) (352,625)
Cash flows from financing activities:      
Payment of liability for in-licensing agreement and other (729) (1,234) (4,383)
Proceeds from long-term liabilities and exercise of stock options 13,498 11,590 2,755
Net cash provided by (used in) financing activities 12,769 10,356 (1,628)
Effect of exchange rate changes on cash and cash equivalents (2,617) 589 (9,599)
Increase (decrease) in cash and cash equivalents 23,005 (254,040) (86,492)
Cash and cash equivalents and restricted cash, beginning of period 160,610 414,650 501,142
Cash and cash equivalents and restricted cash, end of period 183,615 160,610 414,650
Restricted cash included in other assets 2,290 2,290 3,115
Total cash, cash equivalents, and restricted cash shown on the balance sheet 181,325 158,320 411,535
Supplemental disclosure of non-cash investing and financing activities      
Property and equipment in accounts payable 12,767 13,625 5,868
Right-of-use assets obtained in exchange for operating lease obligation $ 1,898 $ 1,199 $ 50,694