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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net loss $ (51,198) $ (56,813)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 871 565
Amortization of operating lease right-of-use assets 569 272
Finance lease right-of-use asset expensed 1,262  
Amortization of premiums and discounts on marketable securities (4,689) 38
Share-based compensation 20,560 10,425
Changes in operating assets and liabilities:    
Receivable from collaboration partner (29,431)  
Prepaid expenses and other current and non-current assets (16,817) (17,170)
Accounts payable and other current liabilities (3,797) 5,667
Accrued liabilities (1,596) 1,737
Operating lease liabilities 10,281 145
Contract liability 233,412  
Net cash provided by (used in) operating activities 159,427 (55,134)
Cash flows from investing activities    
Purchases of property and equipment (8,208) (616)
Purchases of marketable securities (162,144) (119,374)
Proceeds from maturities of marketable securities 154,850 50,114
Net cash used in investing activities (15,502) (69,876)
Cash flows from financing activities    
Proceeds from issuance of common stock in accordance with Gilead Stock Purchase Agreement 100,000  
Proceeds from issuance of common stock (initial public offering), net of transactions costs   129,156
Proceeds from issuance of common stock (private placement), net of transactions costs   9,958
Proceeds from issuance of common stock (follow-on offering), net of transactions costs   121,535
Proceeds from exercise of stock options 3,340 429
Proceeds from stock issued pursuant to employee stock purchase plan 528  
Payments under finance leases (8,307) (59)
Net cash provided by financing activities 95,561 261,019
Net increase in cash and cash equivalents and restricted cash 239,486 136,009
Cash and cash equivalents and restricted cash, beginning of the year 66,680 31,032
Cash and cash equivalents and restricted cash, end of the period 306,166 167,041
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 212  
Supplemental disclosures of noncash investing and financing activities:    
Purchase of property and equipment included in accounts payable and accrued liabilities $ 3,323 35
Deferred offering costs included in accounts payable and accrued liabilities   $ 816