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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 41 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
OPERATING ACTIVITIES:          
Net loss     $ (103,913) $ (161,934)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation $ 3,800 $ 2,600 7,414 4,853  
Stock-based compensation expense     17,666 9,099  
Change in the estimated fair value of contingent consideration     (4,358) 18,556 $ 98,100
Change in the estimated fair value of success payment liabilities     (69,008) 32,469 31,100
Non-cash expense for operating lease right-of-use assets     5,682 2,838  
Other non-cash items, net     (3,726) (2,022)  
Changes in operating assets and liabilities:          
Prepaid expenses and other assets     (657) (1,719)  
Operating lease right-of-use assets and liabilities     111 3,386  
Accounts payable     663 (373)  
Accrued expenses and other liabilities     939 4,378  
Net cash used in operating activities     (149,187) (90,469)  
INVESTING ACTIVITIES:          
Purchases of marketable securities     (45,961) (165,551)  
Proceeds from maturities of marketable securities     148,160 195,914  
Purchases of property and equipment     (11,924) (16,596)  
Net cash provided by investing activities     90,275 13,767  
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     2,231 631  
Net cash provided by financing activities     2,231 627,036  
Net increase (decrease) in cash, cash equivalents, and restricted cash     (56,681) 550,334  
Cash, cash equivalents, and restricted cash at beginning of period     261,848 126,949  
Cash, cash equivalents, and restricted cash at end of period $ 205,167 $ 677,283 205,167 677,283 $ 205,167
SUPPLEMENTAL CASH FLOW INFORMATION:          
Operating lease right-of-use assets obtained in exchange for lease obligations     21,073    
Purchases of property and equipment included in accounts payable and accrued liabilities     3,346 3,414  
Cash received for amounts related to tenant improvement allowances     541 $ 3,386  
Remeasurement of operating lease right-of-use asset for lease modification     $ (12,801)