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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 38 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2022
OPERATING ACTIVITIES:      
Net loss $ (31,448) $ (180,617)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 3,614 2,247  
Stock-based compensation expense 7,755 4,158  
Change in the estimated fair value of contingent consideration (528) 11,393 $ 102,000
Change in the estimated fair value of success payment liabilities (54,910) 115,657 45,200
Non-cash expense for operating lease right-of-use assets 2,606 1,398  
Other non-cash items, net (1,437) (1,013)  
Changes in operating assets and liabilities:      
Prepaid expenses and other assets (3,191) (1,614)  
Operating lease right-of-use assets and liabilities 372    
Accounts payable 1,917 1,599  
Accrued expenses and other liabilities (2,459) (3,121)  
Net cash used in operating activities (77,709) (49,913)  
INVESTING ACTIVITIES:      
Purchases of marketable securities (25,675) (44,811)  
Proceeds from maturities of marketable securities 45,753 100,342  
Purchases of property and equipment (7,533) (6,440)  
Net cash provided by investing activities 12,545 49,091  
FINANCING ACTIVITIES:      
Proceeds from initial public offering, net of issuance costs   626,405  
Proceeds from employee stock purchase plan and exercise of stock options, net 652 298  
Net cash provided by financing activities 652 626,703  
Net increase (decrease) in cash, cash equivalents, and restricted cash (64,512) 625,881  
Cash, cash equivalents, and restricted cash at beginning of period 261,848 126,949  
Cash, cash equivalents, and restricted cash at end of period 197,336 752,830 $ 197,336
SUPPLEMENTAL CASH FLOW INFORMATION:      
Operating lease right-of-use assets obtained in exchange for lease obligations 3,431    
Purchases of property and equipment included in accounts payable and accrued liabilities 3,425 $ 3,157  
Cash received for amounts related to tenant improvement allowances $ 541