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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
OPERATING ACTIVITIES:    
Net loss $ (217,690) $ (195,138)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 11,698 13,293
Stock-based compensation expense 31,242 27,602
Change in the estimated fair value of contingent consideration 2,250 (47,223)
Change in the estimated fair value of success payment liabilities 2,316 (8,593)
Non-cash expense for operating lease right-of-use assets 7,501 10,031
Other non-cash items, net (7,853) (9,962)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (6,781) 5,560
Operating lease right-of-use assets and liabilities 7,591 2,129
Accounts payable (904) 2,363
Accrued expenses and other liabilities (5,362) (1,685)
Net cash used in operating activities (175,992) (201,623)
INVESTING ACTIVITIES:    
Purchases of marketable securities (212,988) (131,617)
Proceeds from maturities of marketable securities 216,347 294,305
Purchases of property and equipment (32,994) (5,986)
Net cash provided by (used in) investing activities (29,635) 156,702
FINANCING ACTIVITIES:    
Proceeds from employee stock purchase plan and exercise of stock options 10,306 2,919
Proceeds from issuance of common stock from equity financings, net 181,000 27,009
Proceeds from tenant improvement loan, net 7,800  
Net cash provided by financing activities 199,106 29,928
Net decrease in cash, cash equivalents, and restricted cash (6,521) (14,993)
Cash, cash equivalents, and restricted cash at beginning of period 137,349 187,273
Cash, cash equivalents, and restricted cash at end of period 130,828 172,280
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 258 9,933
Cash received for tenant improvement allowances 7,344 2,298
Derecognition of operating lease right-of-use asset for lease termination   $ (14,204)
Derecognition of operating lease right-of-use asset for lease modification $ (6,362)