XML 14 R8.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
OPERATING ACTIVITIES:    
Net loss $ (143,189) $ (157,766)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 6,506 7,641
Stock-based compensation expense 13,651 20,472
Change in the estimated fair value of contingent consideration 8,164 2,015
Change in the estimated fair value of success payment liabilities 4,055 8,048
Non-cash expense for operating lease right-of-use assets 4,463 5,387
Impairment of long-lived assets 44,611 0
Other non-cash items, net (5,794) (4,858)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 740 (7,459)
Operating lease right-of-use assets and liabilities (81) 7,426
Accounts payable (2,999) (397)
Accrued expenses and other liabilities (11,885) (4,682)
Net cash used in operating activities (81,758) (124,173)
INVESTING ACTIVITIES:    
Purchases of marketable securities (1,682) (177,018)
Proceeds from maturities of marketable securities 25,354 134,509
Purchases of property and equipment (24) (28,901)
Proceeds from disposal of assets 635 0
Net cash provided by (used in) investing activities 24,283 (71,410)
FINANCING ACTIVITIES:    
Proceeds from employee stock purchase plan and exercise of stock options 1,460 8,367
Proceeds related to common stock financings, net 254 181,029
Proceeds (principal payments), net for tenant improvement loan (171) 7,628
Net cash provided by financing activities 1,543 197,024
Net increase (decrease) in cash, cash equivalents, and restricted cash (55,932) 1,441
Cash, cash equivalents, and restricted cash at beginning of period 131,398 137,349
Cash, cash equivalents, and restricted cash at end of period 75,466 138,790
SUPPLEMENTAL CASH FLOW INFORMATION:    
Purchases of property and equipment included in accounts payable and accrued liabilities 0 3,376
Cash received for tenant improvement allowances 891 7,344
Derecognition of operating lease right-of-use asset for lease modification $ (2,724) $ (6,362)