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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flow from operating activities    
Net loss $ (112) $ (4)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 16 20
Depreciation and amortization 3 3
Noncash lease expense 2 2
Impairment of long-lived assets 0 20
Amortization of discounts on marketable securities (4) (6)
Changes in operating assets and liabilities:    
Receivable from collaboration partners ($2 and ($1) from a related party) 5 13
Other assets ($— and $6 from a related party) 0 5
Accounts payable 3 (1)
Deferred revenue (($28) and ($54) to a related party) (28) (42)
Other liabilities (17) (12)
Net cash used in operating activities (132) (2)
Cash flow from investing activities    
Purchases of marketable securities (353) (387)
Proceeds from maturities of marketable securities 360 222
Proceeds from sales of marketable securities 26 0
Purchases of property and equipment (1) (4)
Net cash provided by (used in) investing activities 32 (169)
Cash flow from financing activities    
Proceeds from issuance of common stock ($14 and $228 from a related party) 142 228
Proceeds from issuance of common stock pursuant to equity award plans 0 1
Net cash provided by financing activities 142 229
Net increase in cash, cash equivalents and restricted cash 42 58
Cash, cash equivalents and restricted cash at beginning of period 153 130
Cash, cash equivalents and restricted cash at end of period 195 188
Non-cash investing and financing activities:    
Unpaid portion of property and equipment purchases included in Accounts payable and Other current liabilities $ 0 $ 1