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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income (loss) $ 75,208 $ (39,993)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 375 276
Stock-based compensation 9,953 5,811
Change in operating lease right-of-use assets 4 8
Changes in operating assets and liabilities:    
Grants receivable (333) (4,185)
Research and development tax credits receivable (41) 73
Refundable Income Taxes 7,544 0
Prepaid expenses and other current assets 4,360 81
Accounts payable 6,447 8,265
Accrued expenses and other liabilities (2,286) 50
Income tax payable 12,965 0
Deferred income 189 (3,431)
Deferred revenue (194,238) 0
Unrecognized tax benefits 25,529 0
Net cash used in operating activities (54,324) (33,045)
Cash flows from investing activities    
Purchase of property and equipment (738) (489)
Purchase of other assets (99) (60)
Net cash used in investing activities (837) (549)
Cash flows from financing activities    
Proceeds from issuance of common stock upon exercise of options 611 862
Net cash provided by financing activities 611 862
Effects of exchange rate changes on cash, cash equivalents and restricted cash (2,134) (650)
Net decrease in cash, cash equivalents and restricted cash (56,684) (33,382)
Cash, cash equivalents and restricted cash at beginning of period 848,835 336,454
Cash, cash equivalents and restricted cash at end of period 792,151 303,072
Non-cash investing and financing activities    
Capital expenditure included in accounts payable (57) 459
Operating lease liabilities arising from obtaining right-of-use assets 177 3,316
Supplemental disclosure of cash flows    
Cash paid for taxes $ 6,740 $ 0