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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
OPERATING ACTIVITIES:      
Net loss $ (355,928) $ (285,305) $ (130,778)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 11,070 5,921 1,826
Deferred income tax     (7,547)
Stock-based compensation expense 22,362 5,828 1,497
Change in the estimated fair value of contingent consideration 31,842 52,793 17,860
Change in the estimated fair value of success payment liabilities 26,031 72,142 1,924
Non-cash expense in connection with license agreement and asset acquisition   1,530 17,685
Non-cash expense for operating lease right-of-use assets 6,844 4,250 2,095
Other non-cash items, net (3,076) (1,297) (592)
Changes in operating assets and liabilities:      
Prepaid expenses and other assets (861) (1,436) (4,300)
Operating lease right-of-use assets and liabilities 5,088 91 5,697
Accounts payable (266) 1,982 (421)
Accrued expenses and other liabilities 5,840 5,519 9,536
Net cash used in operating activities (251,054) (137,982) (85,518)
INVESTING ACTIVITIES:      
Purchases of marketable securities (491,387) (387,432) (141,519)
Proceeds from sales and maturities of marketable securities 280,025 158,741 82,977
Purchases of property and equipment (29,862) (23,872) (26,124)
Acquisitions, net of cash acquired     (3,195)
Other investing activities (4,574)    
Net cash used in investing activities (245,798) (252,563) (87,861)
FINANCING ACTIVITIES:      
Proceeds from initial public offering, net of issuance costs 626,405    
Proceeds from issuance of convertible preferred stock, net of issuance costs   435,538 223,739
Proceeds from employee stock purchase plan and exercise of stock options, net 5,346 149 1
Net cash provided by financing activities 631,751 435,687 223,740
Net increase in cash, cash equivalents, and restricted cash 134,899 45,142 50,361
Cash, cash equivalents, and restricted cash at beginning of period 126,949 81,807 31,446
Cash, cash equivalents, and restricted cash at end of period 261,848 126,949 81,807
SUPPLEMENTAL CASH FLOW INFORMATION:      
Operating lease right-of-use assets obtained in exchange for lease obligations 39,996 26,521 48,863
Cash received for amounts related to tenant improvement allowances 5,445 91 5,697
Purchases of property and equipment included in accounts payable and accrued liabilities $ 3,015 $ 3,140 2,495
Issuance of convertible preferred stock for acquisition     $ 135,971