XML 31 R8.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 44 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
OPERATING ACTIVITIES:          
Net loss     $ (189,033) $ (245,197)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation $ 4,000 $ 2,800 11,430 7,735  
Stock-based compensation expense     27,746 15,049  
Change in the estimated fair value of contingent consideration     (12,613) 10,080 $ 89,900
Change in the estimated fair value of success payment liabilities     (66,815) 57,698 33,300
Non-cash expense for operating lease right-of-use assets     8,859 4,597  
Other non-cash items, net     (6,687) (2,255)  
Changes in operating assets and liabilities:          
Prepaid expenses and other assets     569 (2,985)  
Operating lease right-of-use assets and liabilities     1,584 5,028  
Accounts payable     2,144 1,397  
Accrued expenses and other liabilities     8,833 7,898  
Net cash used in operating activities     (213,983) (140,955)  
INVESTING ACTIVITIES:          
Purchases of marketable securities     (63,583) (414,437)  
Proceeds from maturities of marketable securities     201,991 266,960  
Purchases of property and equipment     (16,274) (24,660)  
Net cash provided by (used in) investing activities     122,134 (172,137)  
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     3,128 2,227  
Proceeds from at the market offering of common stock, net of issuance costs     724    
Net cash provided by financing activities     3,852 628,632  
Net (decrease) increase in cash, cash equivalents, and restricted cash     (87,997) 315,540  
Cash, cash equivalents, and restricted cash at beginning of period     261,848 126,949  
Cash, cash equivalents, and restricted cash at end of period $ 173,851 $ 442,489 173,851 442,489 $ 173,851
SUPPLEMENTAL CASH FLOW INFORMATION:          
Operating lease right-of-use assets obtained in exchange for lease obligations     21,073 26,257  
Purchases of property and equipment included in accounts payable and accrued liabilities     2,409 3,231  
Cash received for amounts related to tenant improvement allowances     2,014 $ 5,160  
Remeasurement of operating lease right-of-use asset for lease modification     $ (12,801)