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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities    
Net Income (Loss) $ (70,690) $ (188,679)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,040 1,321
Loss on disposal of property and equipment 174 3
Noncash operating lease expense 1,010 903
Right of use asset expensed 18,871 63,278
Amortization of premiums and discounts on marketable securities (11,048) (2,125)
Share-based compensation 41,789 21,544
Changes in operating assets and liabilities:    
Prepaid expenses and other current and non-current assets (8,359) (5,695)
Accounts payable and other current liabilities (6,474) 7,419
Accrued liabilities 5,593 (395)
Operating lease liabilities 13,461 3,123
Contract liability to related party 221,206  
Net cash provided by (used in) operating activities 207,573 (99,303)
Cash flows from investing activities    
Purchases of property and equipment (21,428) (2,277)
Purchases of marketable securities (442,429) (273,737)
Proceeds from maturities of marketable securities 309,345 158,340
Net cash used in investing activities (154,512) (117,674)
Cash flows from financing activities    
Proceeds from issuance of common stock (initial public offering), net of transactions costs   129,156
Proceeds from issuance of common stock in private placement, net of transactions costs 299,706 9,958
Proceeds from issuance of common stock (follow-on offering), net of transactions costs   120,719
Proceeds from exercise of stock options and early exercise of restricted stock 7,758 2,467
Proceeds from issuance of common stock under the employee stock purchase plan 1,091  
Payments under finance leases (29,392) (9,675)
Net cash provided by financing activities 279,163 252,625
Net increase in cash and cash equivalents and restricted cash 332,224 35,648
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 398,904 66,680
Supplemental disclosures 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 $ 1,841 $ 770