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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
OPERATING ACTIVITIES:    
Net loss $ (180,617) $ (32,875)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 2,247 1,265
Stock-based compensation expense 4,158 755
Change in fair value of contingent consideration 11,393 362
Change in fair value of success payment liabilities 115,657 552
Non-cash expense in connection with license agreement   373
Non-cash expense for operating lease right-of-use assets 1,398 784
Other non-cash items, net (1,013) 350
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (1,614) (501)
Accounts payable 1,599 2,370
Accrued expenses and other liabilities (3,121) (2,982)
Net cash used in operating activities (49,913) (29,547)
INVESTING ACTIVITIES:    
Purchases of marketable securities (44,811)  
Proceeds from sales and maturities of marketable securities 100,342 44,781
Purchases of property and equipment (6,440) (5,600)
Net cash provided by investing activities 49,091 39,181
FINANCING ACTIVITIES:    
Proceeds from initial public offering of common stock, net of offering costs 626,405  
Proceeds from exercise of stock options 298 2
Net cash provided by financing activities 626,703 2
Net increase in cash, cash equivalents, and restricted cash 625,881 9,636
Cash, cash equivalents, and restricted cash at beginning of period 126,949 81,807
Cash, cash equivalents, and restricted cash at end of period 752,830 91,443
SUPPLEMENTAL CASH FLOW DISCLOSURES:    
Tenant improvement allowance included in operating lease liabilities 8,515 3,837
Purchases of property and equipment included in accounts payable and accrued liabilities $ 3,157 644
Right-of-use assets obtained in exchange for operating lease liabilities   $ 14,271