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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income (loss) $ 69,582 $ (13,534)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 180 126
Stock-based compensation 4,193 2,584
Change in operating lease right-of-use assets 2 6
Changes in operating assets and liabilities:    
Grants receivable (684) (1,149)
Research and development tax credits receivable 889 191
Refundable Income Taxes 7,544  
Prepaid expenses and other current assets 1,810 493
Accounts payable 5,465 2,348
Accrued expenses and other liabilities (3,062) (2,115)
Income tax payable 20,107  
Deferred income 194 (3,740)
Deferred revenue (152,522)  
Uncertain tax benefit 22,300  
Net cash used in operating activities (24,002) (14,790)
Cash flows from investing activities    
Purchase of property and equipment (227) (88)
Purchase of other assets (96) (3)
Net cash used in investing activities (323) (91)
Cash flows from financing activities    
Proceeds from issuance of common stock upon exercise of options 333 667
Net cash provided by financing activities 333 667
Effects of exchange rate changes on cash, cash equivalents and restricted cash (563) (717)
Net decrease in cash, cash equivalents and restricted cash (24,555) (14,931)
Cash, cash equivalents and restricted cash at beginning of period 848,835 336,454
Cash, cash equivalents and restricted cash at end of period 824,280 321,523
Non-cash investing and financing activities    
Capital expenditure included in accounts payable 184 0
Operating lease liabilities arising from obtaining right-of-use assets 199 3,206
Supplemental disclosure of cash flows    
Cash paid for taxes $ 0 $ 0