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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (335,731) $ 442,128
Adjustments to reconcile net (loss) income to net cash (used in) provided for operating activities:    
Change in estimated constraint on profit-sharing amount (26,285) 397,433
Depreciation and amortization 10,120 2,882
Amortization of intangible assets 266 266
(Accretion of discounts) amortization of premiums on investments, net (12,366) 1,732
Payment of contingent consideration in excess of acquisition date fair value 0 (93,803)
Noncash lease expense 4,401 4,283
Change in fair value of equity investments 18,189 106,428
Change in estimated fair value of contingent consideration (10) 5,633
Stock-based compensation 56,100 52,403
In-process research and development impairment 6,899 0
Long-lived assets impairment 5,366 0
Other 172 292
Changes in operating assets and liabilities:    
Receivable from collaboration 3,041 433,689
Prepaid expenses and other current assets 27,298 (5,472)
Other assets (2,283) (41)
Accounts payable 5,630 2,444
Accrued liabilities and other long-term liabilities (269,765) 145,381
Operating lease liabilities (6,235) (1,012)
Deferred revenue 164 15,559
Net cash (used in) provided by operating activities (515,029) 1,510,225
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sale of an equipment 0 11
Purchases of property and equipment (16,324) (36,439)
Purchases of investments (694,289) (341,293)
Maturities of investments 1,039,007 0
Net cash provided by (used in) investing activities 328,394 (377,721)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock in connection with a grant agreement 0 28,462
Payment of principal on financing lease obligation (134) (124)
Proceeds from exercise of stock options 3,052 1,558
Issuance of common stock under ESPP 2,605 2,066
Contributions from noncontrolling interest owners 100 0
Increase in ownership interest in a subsidiary (100) 0
Payment of contingent consideration 0 (1,197)
Net cash provided by financing activities 5,523 30,765
Net (decrease) increase in cash, cash equivalents and restricted cash and cash equivalents (181,112) 1,163,269
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period 867,968 363,415
Cash, cash equivalents and restricted cash and cash equivalents at end of period 686,856 1,526,684
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS TO THE CONDENSED CONSOLIDATED BALANCE SHEETS:    
Cash and cash equivalents 666,949 1,505,183
Restricted cash and cash equivalents, current 13,163 13,147
Restricted cash and cash equivalents, noncurrent 6,744 8,354
Total cash, cash equivalents and restricted cash and cash equivalents $ 686,856 $ 1,526,684