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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
OPERATING ACTIVITIES:      
Net loss $ (266,759) $ (283,255) $ (269,476)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and impairment of long-lived assets 17,391 24,557 15,625
Stock-based compensation expense 37,678 35,533 38,337
Change in the estimated fair value of contingent consideration (638) (40,773) (3,364)
Change in the estimated fair value of success payment liabilities (8,243) (8,208) (81,518)
Non-cash expense for operating lease right-of-use assets 9,681 13,265 12,106
Other non-cash items, net (11,078) (13,312) (9,302)
Changes in operating assets and liabilities:      
Prepaid expenses and other assets (3,513) 8,143 (5,988)
Operating lease right-of-use assets and liabilities 9,341 10,959 1,562
Accounts payable 1,377 1,027 1,058
Accrued expenses and other liabilities (8,390) (1,518) 10,910
Net cash used in operating activities (223,153) (253,582) (290,050)
INVESTING ACTIVITIES:      
Purchases of marketable securities (226,064) (157,744) (78,688)
Proceeds from maturities of marketable securities 276,947 349,788 310,126
Purchases of property and equipment (33,430) (20,032) (20,876)
Net cash provided by investing activities 17,453 172,012 210,562
FINANCING ACTIVITIES:      
Proceeds from employee stock purchase plan and exercise of stock options 11,005 4,626 4,312
Proceeds from issuance of common stock from equity financings, net 181,000 27,020 601
Proceeds from tenant improvement loan, net 7,744    
Net cash provided by financing activities 199,749 31,646 4,913
Net decrease in cash, cash equivalents, and restricted cash (5,951) (49,924) (74,575)
Cash, cash equivalents, and restricted cash at beginning of period 137,349 187,273 261,848
Cash, cash equivalents, and restricted cash at end of period 131,398 137,349 187,273
RECONCILITION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH:      
Cash and cash equivalents 127,566 133,517 176,765
Restricted cash 3,832 3,832 6,100
Long-term restricted cash     4,408
Total cash, cash equivalents, and restricted cash 131,398 137,349 187,273
SUPPLEMENTAL CASH FLOW INFORMATION:      
Operating lease right-of-use assets obtained in exchange for lease obligations   8,984 21,073
Purchases of property and equipment included in accounts payable and accrued liabilities   9,471 1,234
Cash received for tenant improvement allowances 7,509 12,547 2,014
Derecognition of operating lease right-of-use asset for lease termination   $ (14,204)  
Derecognition of operating lease right-of-use asset for lease modification $ (7,261)   $ (12,801)