CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating activities:
Net income (loss)	$ (129,538)	$ 136,283
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Equity-based compensation expense	22,919	20,444
Amortization (accretion) on marketable securities	(6,533)	1,894
Impairment of long-lived assets	440	0
Depreciation and amortization	233	34
Realized (gain) loss on marketable securities	(20)	109
Non-cash contributions from noncontrolling interests	4	139
Gain on sale of Cullinan Pearl	0	(276,785)
Loss on disposal of fixed assets	0	14
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(2,650)	(507)
Accounts payable	(1,709)	(1,654)
Accrued expenses and other current liabilities	4,992	6,950
Income tax payable	(4,282)	11,398
Net cash used in operating activities	(116,144)	(101,681)
Investing activities:
Purchase of marketable securities	(307,371)	(217,497)
Proceeds from sales and maturities of marketable securities	291,915	220,333
Purchase of property and equipment	(208)	(251)
Proceeds from sale of Cullinan Pearl, net of cash transferred with sale of $2,898	0	275,000
Net cash provided by (used in) investing activities	(15,664)	277,585
Financing activities:
Proceeds from issuance of common stock	38,388	0
Proceeds from issuance of convertible notes	1,825	2,200
Proceeds from net issuance of common stock under equity-based compensation plans	290	5,826
Repayment of convertible note	0	(2,200)
Contributions From Noncontrolling Interests	0	1,153
Net cash provided by financing activities	40,503	6,979
Net increase (decrease) in cash and cash equivalents	(91,305)	182,883
Cash and cash equivalents at beginning of period	156,152	59,774
Cash and cash equivalents at end of period	64,847	242,657
Non-cash financing activities and supplemental cash flow information
Purchases of property and equipment included in accounts payable and accrued expenses and other liabilities	0	513
Conversion Of Convertible Note Into Noncontrolling Interest	175	0
Cash paid for income taxes	$ 4,708	$ 32,582