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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flow from operating activities    
Net loss $ (72,593) $ (27,753)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 12,761 3,462
Depreciation and amortization 800 842
Amortization of right-of-use assets 538 144
Amortization of premiums on investments 506 (248)
Changes in operating assets and liabilities:    
Receivable from collaboration partners (($3,981) and $0 from a related party) (4,186) (212)
Prepaid expenses and other current assets (4,568) (3,704)
Other long-term assets 63 (91)
Accounts payable 7,722 (2,342)
Accrued research and development expenses 4,716 2,226
Other accrued liabilities (2,007) (1,578)
Deferred revenue (($7,711) and $0 to a related party) (9,461) (1,750)
Operating lease liabilities (605) (273)
Other long-term liabilities (2)  
Net cash used in operating activities (66,316) (31,277)
Cash flow from investing activities    
Purchases of short-term and long-term investments (192,398) (8,885)
Proceeds from maturities of short-term and long-term investments 251,365 49,150
Sales of short-term and long-term investments 7,500  
Purchases of property and equipment (3,641) (209)
Net cash provided by investing activities 62,826 40,056
Cash flow from financing activities    
Proceeds from issuance of common stock to related party 220,235  
Proceeds from issuance of common stock pursuant to equity award plans 1,885 643
Repurchase of unvested shares of stock   (33)
Net cash provided by financing activities 222,120 610
Net increase in cash and cash equivalents 218,630 9,389
Cash, cash equivalents and restricted cash at beginning of period 173,618 58,140
Cash, cash equivalents and restricted cash at end of period 392,248 67,529
Supplemental disclosures:    
Cash paid for amounts included in measurement of lease liabilities 927 519
Non-cash investing and financing activities:    
Unpaid portion of property and equipment purchases included in accounts payable and accrued liabilities 2,784 76
Vesting of early exercised stock options $ 183 $ 220