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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (60,667) $ (66,959)
Adjustments to reconcile net loss to net cash used in operating activities:    
Impairment of other investments 13,001 10,000
Stock-based compensation expense 9,155 13,882
Depreciation and amortization expense 5,024 5,027
Net amortization and accretion on marketable securities (4,367) (1,850)
Gain on marketable equity securities (1,535) 0
Change in fair value of success payment liabilities 968 (1,708)
Non-cash lease income (373) (293)
Loss on property and equipment disposals, net 15 0
Changes in operating assets and liabilities:    
Prepaid expenses, other current assets and other assets 595 (408)
Accounts payable (113) 2,069
Accrued liabilities and other current liabilities (3,606) (5,860)
Other non-current liabilities (113) (112)
Net cash used in operating activities (42,016) (46,212)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (30) (1,533)
Purchases of marketable securities (108,011) (108,560)
Maturities of marketable securities 130,035 142,247
Net cash provided by investing activities 21,994 32,154
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of stock options 103 0
Taxes paid related to net share settlement of equity awards (76) (69)
Net cash provided by (used in) financing activities 27 (69)
Net decrease in cash, cash equivalents and restricted cash (19,995) (14,127)
Cash, cash equivalents and restricted cash at beginning of period 145,931 123,834
Cash, cash equivalents and restricted cash at end of period 125,936 109,707
Represented by:    
Cash and cash equivalents 125,650 109,426
Restricted cash 286 281
Total 125,936 109,707
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for amounts included in the measurement of lease liabilities 2,659 2,406
Non-cash investing and financing activities:    
Purchases of property and equipment included in accounts payable and accrued liabilities $ 220 $ 395