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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (130,849) $ (104,467)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 28,105 44,438
Impairment of other investments 12,923 0
Depreciation and amortization expense 10,089 8,358
Net amortization and accretion on marketable securities (3,925) 706
Non-cash lease income (816) (655)
Change in fair value of success payment liabilities (603) (264)
Loss on property and equipment disposals 430 84
Change in fair value of equity warrant 0 (14)
Changes in operating assets and liabilities:    
Prepaid expenses, other current assets and other assets 641 9
Accounts payable 2,449 1,170
Accrued liabilities and other current liabilities (3,592) (7,159)
Deferred revenue 0 (36,300)
Operating lease liabilities, non-current 0 2,135
Other non-current liabilities (225) (226)
Net cash used in operating activities (85,373) (92,185)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (2,466) (16,903)
Purchases of marketable securities (141,815) (185,855)
Sales and maturities of marketable securities 329,347 201,655
Net cash provided by (used in) investing activities 185,066 (1,103)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of stock options 83 4,125
Proceeds from employee stock purchase plan 1,163 887
Taxes paid related to net share settlement of equity awards (119) 0
Net cash provided by financing activities 1,127 5,012
Net increase (decrease) in cash, cash equivalents and restricted cash 100,820 (88,276)
Cash, cash equivalents and restricted cash at beginning of period 123,834 294,294
Cash, cash equivalents and restricted cash at end of period 224,654 206,018
Represented by:    
Cash and cash equivalents 224,372 205,739
Restricted cash 282 279
Total 224,654 206,018
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for amounts included in the measurement of lease liabilities 5,215 5,399
Cash received for amounts related to tenant improvement allowances 0 2,042
Non-cash investing and financing activities:    
Purchases of property and equipment included in accounts payable and accrued liabilities $ 33 $ 3,553