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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flow from operating activities      
Net income (loss) $ (267) $ 53 $ (123)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation expense 65 55 22
Depreciation and amortization 6 4 3
Noncash lease expense 8 3 1
Amortization of premiums on marketable securities   5  
Other items, net 3    
Changes in operating assets and liabilities:      
Receivable from collaboration partners ($706, ($17) and ($1) from a related party) 704 (17) (1)
Other assets (($2), $ - and $ - from a related party) 2 (3) (6)
Accounts payable 8 (5) 9
Deferred revenue (($107), ($361) and $195 to a related party) (112) (368) 188
Other liabilities 21 17 18
Net cash provided by (used in) operating activities 438 (256) 111
Cash flow from investing activities      
Purchases of marketable securities (1,241) (719) (740)
Proceeds from maturities of marketable securities 694 690 308
Proceeds from sales of marketable securities 143 51 1
Purchases of property and equipment (6) (26) (3)
Purchases of in-process research and development (6)    
Collaboration reimbursements of in-process research and development from a related party 3    
Net cash used in investing activities (413) (4) (434)
Cash flow from financing activities      
Proceeds from issuance of common stock and rights to purchase additional shares ($ -, $220 and $164 from a related party)   220 434
Proceeds from sale of future royalties 10 5  
Proceeds from issuance of common stock pursuant to equity award plans 23 12 5
Net cash provided by financing activities 33 237 439
Net increase (decrease) in cash, cash equivalents and restricted cash 58 (23) 116
Cash, cash equivalents and restricted cash at beginning of period 151 174 58
Cash, cash equivalents and restricted cash at end of period 209 151 174
Supplemental disclosure of cash flow information      
Income taxes paid 3    
Non-cash investing and financing activities:      
Unpaid portion of property and equipment purchases included in accounts payable and accrued liabilities $ 3 1 2
Unpaid portion of other assets included in accrued research and development   1  
Vesting of early exercised stock options and restricted stock   $ 1 $ 1