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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flow from operating activities      
Net income (loss) $ 52,830 $ (122,858) $ (84,710)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation expense 54,528 21,825 8,981
Depreciation and amortization 3,843 3,149 3,578
Noncash lease expense 3,214 1,042  
Share of loss from equity method investee, net   613 1,202
Amortization of premiums on investments 4,772 (46) (2,638)
Effective interest on liability for sale of future royalties 260    
Changes in operating assets and liabilities:      
Receivable from collaboration partners (($17,092), ($943) and $0 from a related party) (17,046) (917) (132)
Amounts owed by PACT Pharma     83
Prepaid expenses and other current assets (5,944) (838) (1,982)
Other long-term assets 3,322 (5,374) (588)
Accounts payable (4,773) 9,272 1,726
Accrued research and development 8,355 13,735 1,756
Other accrued liabilities 10,138 4,593 1,743
Other current liabilities     57
Deferred revenue (($360,884), $195,082 and $0 to a related party) (367,884) 188,082 (2,000)
Operating lease liabilities (1,288) (993)  
Deferred rent     (538)
Other long-term liabilities (498) 498  
Net cash provided by (used in) operating activities (256,171) 111,170 (73,462)
Cash flow from investing activities      
Purchases of short-term and long-term investments (718,865) (739,658) (247,755)
Proceeds from maturities of short-term and long-term investments 690,074 307,343 308,892
Sales of short-term and long-term investments 51,001 1,003  
Purchases of property and equipment (26,078) (3,055) (1,925)
Net cash provided by (used in) investing activities (3,868) (434,367) 59,212
Cash flow from financing activities      
Proceeds from issuance of common stock and rights to purchase additional shares ($220,235, $164,207 and $0 from a related party) 220,235 433,776  
Proceeds from sale of future royalties 5,000    
Proceeds from issuance of common stock pursuant to equity award plans 12,111 4,953 1,217
Repurchase of unvested shares of stock (6) (54) (94)
Net cash provided by financing activities 237,340 438,675 1,123
Net increase (decrease) in cash, cash equivalents and restricted cash (22,699) 115,478 (13,127)
Cash, cash equivalents and restricted cash at beginning of period 173,618 58,140 71,267
Cash, cash equivalents and restricted cash at end of period 150,919 173,618 58,140
Non-cash investing and financing activities:      
Unpaid portion of property and equipment purchases included in accounts payable and accrued liabilities 996 1,583 12
Unpaid portion of other assets included in accrued research and development 1,425    
Vesting of early exercised stock options and restricted stock $ 686 848 $ 1,029
Unpaid Portion of Financing Costs Included in Accounts Payable   $ 61