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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (168,911) $ (77,240)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,269 1,000
Amortization of intangible assets 133 306
Amortization of premiums on investments, net 409 562
Noncash lease expense 1,484 816
Change in estimated fair value of contingent consideration 44,462 7,165
Change in estimated fair value of derivative liability   16,796
Stock-based compensation 15,471 2,967
Other 19 5
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 943 549
Other assets (63) (125)
Accounts payable (1,317) 12,944
Accrued liabilities and other long-term liabilities (18,827) (10,204)
Operating lease liabilities 4 (761)
Deferred revenue 35,395 (3,189)
Net cash used in operating activities (89,529) (48,409)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (667) (1,302)
Purchases of investments (5,000) (40,472)
Maturities of investments 93,201 145,813
Proceeds from disposal of an asset held for sale   180
Net cash provided by investing activities 87,534 104,219
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of principal on financing lease obligation (62) (58)
Proceeds from exercise of stock options 2,352 143
Net cash provided by financing activities 87,503 85
Net increase in cash, cash equivalents and restricted cash and cash equivalents 85,508 55,895
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period 451,487 122,816
Cash, cash equivalents and restricted cash and cash equivalents at end of period 536,995 178,711
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Property and equipment purchases included in accounts payable and accrued liabilities 378 521
Reclassification of derivative liability to additional paid-in capital   29,245
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONDENSED CONSOLIDATED BALANCE SHEETS:    
Cash and cash equivalents 521,396 168,418
Restricted cash and cash equivalents, current 8,601 9,101
Restricted cash and cash equivalents, noncurrent 6,998 1,192
Cash, cash equivalents and restricted cash and cash equivalents at end of period 536,995 $ 178,711
Collaboration Agreement    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock $ 85,213