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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
OPERATING ACTIVITIES:      
Net loss $ (283,255) $ (269,476) $ (355,928)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and impairment of long-lived assets 24,557 15,625 11,070
Stock-based compensation expense 35,533 38,337 22,362
Change in the estimated fair value of contingent consideration (40,773) (3,364) 31,842
Change in the estimated fair value of success payment liabilities (8,208) (81,518) 26,031
Non-cash expense for operating lease right-of-use assets 13,265 12,106 6,844
Other non-cash items, net (13,312) (9,302) (3,076)
Changes in operating assets and liabilities:      
Prepaid expenses and other assets 8,143 (5,988) (861)
Operating lease right-of-use assets and liabilities 10,959 1,562 5,088
Accounts payable 1,027 1,058 (266)
Accrued expenses and other liabilities (1,518) 10,910 5,840
Net cash used in operating activities (253,582) (290,050) (251,054)
INVESTING ACTIVITIES:      
Purchases of marketable securities (157,744) (78,688) (491,387)
Proceeds from maturities of marketable securities 349,788 310,126 280,025
Purchases of property and equipment (20,032) (20,876) (29,862)
Other investing activities     (4,574)
Net cash provided by (used in) investing activities 172,012 210,562 (245,798)
FINANCING ACTIVITIES:      
Proceeds from initial public offering, net of issuance costs     626,405
Proceeds from issuance of common stock, net 4,626 4,312 5,346
Net cash provided by financing activities 31,646 4,913 631,751
Net increase (decrease) in cash, cash equivalents, and restricted cash (49,924) (74,575) 134,899
Cash, cash equivalents, and restricted cash at beginning of period 187,273 261,848 126,949
Cash, cash equivalents, and restricted cash at end of period 137,349 187,273 261,848
RECONCILITION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH:      
Cash and cash equivalents 133,517 176,765 253,029
Restricted cash 3,832 6,100  
Long-term restricted cash   4,408 8,819
Total cash, cash equivalents, and restricted cash 137,349 187,273 261,848
SUPPLEMENTAL CASH FLOW INFORMATION:      
Operating lease right-of-use assets obtained in exchange for lease obligations 8,984 21,073 39,996
Purchases of property and equipment included in accounts payable and accrued liabilities 9,471 1,234 3,015
Cash received for tenant improvement allowances 12,547 2,014 $ 5,445
Remeasurement of operating lease right-of-use asset for lease modification   (12,801)  
Derecognition of operating lease right-of-use asset for lease termination (14,204)    
At The Market Offering      
FINANCING ACTIVITIES:      
Proceeds from issuance of common stock, net $ 27,020 $ 601