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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (499,144) $ 617,440
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Change in estimated constraint on profit-sharing amount (28,101) 353,526
Depreciation and amortization 14,573 4,431
Amortization of intangible assets 399 399
Accretion of discounts on investments, net (10,057) (1,315)
Payment of contingent consideration in excess of acquisition date fair value 0 (93,803)
Noncash lease expense 6,218 6,473
Change in fair value of equity investments 20,895 120,019
Change in estimated fair value of contingent consideration (637) 7,890
Stock-based compensation 83,044 77,217
In-process research and development impairment 6,899 0
Long-lived assets impairment 7,474 0
Other (578) 301
Changes in operating assets and liabilities:    
Receivable from collaboration 3,041 491,872
Prepaid expenses and other current assets 54,194 11,023
Other assets (150) (3,434)
Accounts payable (1,895) (2,003)
Accrued liabilities and other long-term liabilities (316,918) 65,144
Operating lease liabilities (9,910) (2,547)
Deferred revenue (205) (24,506)
Net cash (used in) provided by operating activities (670,858) 1,628,127
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sale of an equipment 0 22
Purchases of property and equipment (20,038) (55,432)
Purchases of investments (1,197,199) (1,069,752)
Maturities of investments 1,486,677 84,836
Net cash provided by (used in) investing activities 269,440 (1,040,326)
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 (200) (183)
Proceeds from exercise of stock options 3,395 3,602
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 5,800 32,750
Net (decrease) increase in cash, cash equivalents and restricted cash and cash equivalents (395,618) 620,551
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 472,350 983,966
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS TO THE CONDENSED CONSOLIDATED BALANCE SHEETS:    
Cash and cash equivalents 452,100 963,735
Restricted cash and cash equivalents, current 13,193 12,955
Restricted cash and cash equivalents, noncurrent 7,057 7,276
Total cash, cash equivalents and restricted cash and cash equivalents $ 472,350 $ 983,966