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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 515,837 $ 528,584 $ (298,665)
Adjustments to reconcile net loss to net cash used in operating activities:      
Changes in estimated constraint on profit-sharing amount 369,535 0 0
Depreciation and amortization 6,251 5,278 4,400
Amortization of intangible assets 532 533 1,042
Impairment of intangible assets 0 0 832
(Accretion of discounts) amortization of premiums on investments, net (8,943) (244) 1,548
Noncash lease expense 8,709 6,172 3,371
Change in fair value of equity investments 111,140 (138,049) 0
Change in estimated fair value of contingent consideration 2,115 91,848 38,394
Payment of contingent consideration in excess of acquisition date fair value (93,803) (8,140) (15,752)
Change in estimated fair value of derivative liability 0 0 16,796
Stock-based compensation 102,082 83,784 27,600
Change in deferred income taxes (15,186) 15,186 (52)
Gain from a sublease termination 0 (4,844) 0
Other (383) 697 23
Changes in operating assets and liabilities:      
Receivable from collaboration 770,038 (773,079) 0
Prepaid expenses and other current assets (39,358) (3,665) (4,475)
Other assets (11,795) (1,483) (1,100)
Accounts payable 797 (171) (790)
Accrued liabilities and other long-term liabilities (15,513) 58,498 46,614
Operating lease liabilities (5,502) (535) (3,684)
Deferred revenue (33,300) 92,041 (7,043)
Net cash used in operating activities 1,663,253 (47,589) (190,941)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from sale of an equipment 22 0 0
Purchases of property and equipment (68,028) (21,817) (6,549)
Purchases of investments (1,476,965) (420,240) (403,841)
Maturities of investments 351,510 301,243 400,348
Proceeds from disposal of an asset held for sale 0 0 180
Net cash used in investing activities (1,193,461) (140,814) (9,862)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock, net of issuance costs 0 0 323,214
Proceeds from issuance of common stock in connection with a collaboration agreement 0 85,213 206,699
Proceeds from issuance of common stock in connection with a grant agreement 28,462 0 0
Payment of contingent consideration (1,197) 0 (4,248)
Payment of principal on financing lease obligations (260) (259) (250)
Proceeds from exercise of stock options 4,534 13,077 4,059
Proceeds from issuance of common stock under the employee stock purchase plan 3,222 2,300 0
Net cash provided by financing activities 34,761 100,331 529,474
Net (decrease) increase in cash, cash equivalents and restricted cash and cash equivalents 504,553 (88,072) 328,671
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period 363,415 451,487 122,816
Cash, cash equivalents and restricted cash and cash equivalents at end of period 867,968 363,415 451,487
NONCASH INVESTING AND FINANCING ACTIVITIES:      
Property and equipment purchases included in accounts payable and accrued liabilities 1,020 8,731 382
Common stock issued for payment of contingent consideration 0 1,860 0
Operating lease liabilities obtained in exchange of right-of-use asset 4,046 77,187 48,495
Reclassification of derivative liability to additional paid-in capital 0 0 29,245
SUPPLEMENTAL DISCLOSURE OF CASHFLOW INFORMATION:      
Cash paid during the period for income tax 252,030 0 0
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED BALANCE SHEETS:      
Cash and cash equivalents 848,631 347,815 436,575
Restricted cash and cash equivalents, current 12,681 8,594 7,993
Restricted cash and cash equivalents, noncurrent 6,656 7,006 6,919
Total cash, cash equivalents and restricted cash $ 867,968 $ 363,415 $ 451,487