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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (417,371) $ (499,144)
Adjustments to reconcile net loss to net cash used in operating activities:    
Change in estimated constraint on profit-sharing amount 685 (28,101)
Depreciation and amortization 11,673 14,972
Amortization of premiums (accretion of discounts) on investments, net 3,229 (10,057)
Noncash lease expense 4,149 6,218
Change in fair value of equity investments 4,356 20,895
Change in estimated fair value of contingent consideration 7,209 (637)
Stock-based compensation 62,616 83,044
In-process research and development impairment 3,512 6,899
Long-lived assets impairment and disposal loss 28,557 7,474
Change in deferred income taxes (306) 0
Other non-cash items, net (20) (578)
Changes in operating assets and liabilities:    
Receivable from collaboration 2,234 3,041
Prepaid expenses and other current assets 6,077 54,194
Other assets 854 (150)
Accounts payable 948 (1,895)
Accrued liabilities and other long-term liabilities (15,505) (316,918)
Operating lease liabilities (10,432) (9,910)
Deferred revenue (51,182) (205)
Net cash used in operating activities (358,717) (670,858)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sale of equipment 917 0
Purchases of property and equipment (4,894) (20,038)
Purchases of investments (1,074,480) (1,197,199)
Maturities and sales of investments 1,437,499 1,486,677
Other (412) 0
Net cash provided by investing activities 358,630 269,440
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of principal on financing lease obligation (178) (200)
Proceeds from exercise of stock options 701 3,395
Issuance of common stock under ESPP 2,602 2,605
Contributions from noncontrolling interest owners 0 100
Increase in ownership interest in a subsidiary 0 (100)
Net cash provided by financing activities 3,125 5,800
Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents 3,038 (395,618)
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period 261,292 867,968
Cash, cash equivalents and restricted cash and cash equivalents at end of period 264,330 472,350
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS TO THE CONDENSED CONSOLIDATED BALANCE SHEETS:    
Cash and cash equivalents 168,350 452,100
Restricted cash and cash equivalents, current 89,598 13,193
Restricted cash and cash equivalents, noncurrent 6,382 7,057
Total cash, cash equivalents and restricted cash and cash equivalents $ 264,330 $ 472,350