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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) $ 518,621 $ (168,911)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 1,419 1,269
Amortization of intangible assets 133 133
Amortization of premiums (accretion of discounts) on investments, net 1,073 409
Payment of contingent consideration in excess of acquisition date fair value (93,803)
Noncash lease expense 2,111 1,484
Change in fair value of equity investments 95,039 0
Change in estimated fair value of contingent consideration (3,931) 44,462
Stock-based compensation 25,304 15,471
Other 209 19
Changes in operating assets and liabilities:    
Receivable from collaboration (450,082) 0
Prepaid expenses and other current assets (247) 943
Other assets (227) (63)
Accounts payable 3,829 (1,317)
Accrued liabilities and other long-term liabilities 433,556 (18,827)
Operating lease liabilities (493) 4
Deferred revenue 17,578 35,395
Net cash provided by (used in) operating activities 550,089 (89,529)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sale of an equipment 12  
Purchases of property and equipment (15,841) (667)
Purchases of investments (89,563) (5,000)
Maturities of investments 93,201
Net cash provided by (used in) investing activities (105,392) 87,534
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock in connection with a grant agreement 28,462
Proceeds from issuance of common stock in connection with a collaboration agreement 85,213
Payment of contingent consideration (1,197)
Payment of principal on financing lease obligation (64) (62)
Proceeds from exercise of stock options 484 2,352
Net cash provided by financing activities 27,685 87,503
Net increase in cash, cash equivalents and restricted cash and cash equivalents 472,382 85,508
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period 363,415 451,487
Cash, cash equivalents and restricted cash and cash equivalents at end of period 835,797 536,995
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Property and equipment purchases included in accounts payable and accrued liabilities 8,338 378
Operating lease liabilities obtained in exchange of right-of-use asset 3,222
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONDENSED CONSOLIDATED BALANCE SHEETS:    
Cash and cash equivalents 812,355 521,396
Restricted cash and cash equivalents, current 14,402 8,601
Restricted cash and cash equivalents, noncurrent 9,040 6,998
Total cash, cash equivalents and restricted cash $ 835,797 $ 536,995