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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
OPERATING ACTIVITIES:    
Net loss $ (107,475) $ (82,123)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and impairment of long-lived assets 3,746 4,346
Stock-based compensation expense 9,092 8,751
Change in the estimated fair value of contingent consideration 5,384 5,460
Change in the estimated fair value of success payment liabilities 32,623 (5,340)
Non-cash expense for operating lease right-of-use assets 3,338 3,354
Other non-cash items, net (4,879) (2,913)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (2,380) (106)
Operating lease right-of-use assets and liabilities 5,804 (8)
Accounts payable (1,064) (354)
Accrued expenses and other liabilities (9,821) (10,339)
Net cash used in operating activities (65,632) (79,272)
INVESTING ACTIVITIES:    
Purchases of marketable securities (114,393) (20,431)
Proceeds from maturities of marketable securities 53,010 85,334
Purchases of property and equipment (15,845) (2,176)
Net cash provided by (used in) investing activities (77,228) 62,727
FINANCING ACTIVITIES:    
Proceeds from employee stock purchase plan and exercise of stock options 4,929 236
Proceeds from issuance of common stock from equity financings, net 181,468  
Net cash provided by financing activities 186,397 236
Net increase (decrease) in cash, cash equivalents, and restricted cash 43,537 (16,309)
Cash, cash equivalents, and restricted cash at beginning of period 137,349 187,273
Cash, cash equivalents, and restricted cash at end of period 180,886 170,964
SUPPLEMENTAL CASH FLOW INFORMATION:    
Operating lease right-of-use assets obtained in exchange for lease obligations   8,984
Purchases of property and equipment included in accounts payable and accrued liabilities 8,375 $ 968
Cash received for tenant improvement allowances $ 6,121