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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES:      
Net loss $ (269,476) $ (355,928) $ (285,305)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 15,625 11,070 5,921
Stock-based compensation expense 38,337 22,362 5,828
Change in the estimated fair value of contingent consideration (3,364) 31,842 52,793
Change in the estimated fair value of success payment liabilities (81,518) 26,031 72,142
Non-cash expense for operating lease right-of-use assets 12,106 6,844 4,250
Other non-cash items, net (9,302) (3,076) 233
Changes in operating assets and liabilities:      
Prepaid expenses and other assets (5,988) (861) (1,436)
Operating lease right-of-use assets and liabilities 1,562 5,088 91
Accounts payable 1,058 (266) 1,982
Accrued expenses and other liabilities 10,910 5,840 5,519
Net cash used in operating activities (290,050) (251,054) (137,982)
INVESTING ACTIVITIES:      
Purchases of marketable securities (78,688) (491,387) (387,432)
Proceeds from maturities of marketable securities 310,126 280,025 158,741
Purchases of property and equipment (20,876) (29,862) (23,872)
Other investing activities   (4,574)  
Net cash provided by (used in) investing activities 210,562 (245,798) (252,563)
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
Proceeds from employee stock purchase plan and exercise of stock options, net 4,312 5,346 149
Proceeds from at the market offering of common stock, net of issuance costs 601    
Net cash provided by financing activities 4,913 631,751 435,687
Net (decrease) increase in cash, cash equivalents, and restricted cash (74,575) 134,899 45,142
Cash, cash equivalents, and restricted cash at beginning of period 261,848 126,949 81,807
Cash, cash equivalents, and restricted cash at end of period 187,273 261,848 126,949
RECONCILITION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH:      
Cash and cash equivalents 176,765 253,029 124,806
Restricted cash 6,100    
Long-term restricted cash 4,408 8,819 2,143
Total cash, cash equivalents, and restricted cash 187,273 261,848 126,949
SUPPLEMENTAL CASH FLOW INFORMATION:      
Operating lease right-of-use assets obtained in exchange for lease obligations 21,073 39,996 26,521
Purchases of property and equipment included in accounts payable and accrued liabilities 1,234 3,015 3,140
Cash received for amounts related to tenant improvement allowances 2,014 $ 5,445 $ 91
Remeasurement of operating lease right-of-use asset for lease modification $ (12,801)