CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities:
Net income (loss)	$ 161,173	$ (15,020)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Gain on sale of Cullinan Pearl	(276,785)	0
Depreciation and amortization	25	28
Equity-based compensation expense	15,173	7,673
Amortization or accretion on marketable securities	1,737	1,047
Realized loss on marketable securities	109	0
License expense in exchange for subsidiary common stock	139	67
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(1,050)	(5,199)
Accounts payable	(70)	(6,495)
Accrued expenses and other current liabilities	5,719	188
Income tax payable	46,502	0
Net cash used in operating activities	(47,328)	(17,711)
Investing activities:
Purchase of marketable securities	(93,370)	(363,252)
Proceeds from sales and maturities of marketable securities	158,933	70,932
Proceeds from sale of Cullinan Pearl, net of escrow of $5,000 and cash transferred with sale of $2,898	270,000	0
Net cash provided by (used in) investing activities	335,563	(292,320)
Financing activities:
Proceeds from initial public offering	0	267,268
Payment of deferred offering costs	0	(2,688)
Proceeds from issuance of noncontrolling interests	1,153	923
Proceeds from issuance of convertible note	2,200	0
Repayment of convertible note	(2,200)	0
Proceeds from net issuance of common stock under equity-based compensation plans	4,401	0
Net cash provided by financing activities	5,554	265,503
Net increase (decrease) in cash and cash equivalents	293,789	(44,528)
Cash and cash equivalents at beginning of period	59,774	168,198
Cash and cash equivalents at end of period	353,563	123,670
Noncash financing activities
Deferred offering costs paid in the prior year	$ 0	$ 65