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Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (101,733) $ (76,453)
Adjustments to reconcile net loss to net cash used in operating activities:    
Net amortization of premiums and discounts on investments in marketable securities (3,422) (479)
Depreciation and amortization 2,265 1,670
Non-cash lease expense 3,860 4,454
Stock-based compensation expense 8,269 9,912
Loss on disposal of assets 71 0
Impairment of assets 43,276 0
Changes in assets and liabilities:    
Assets held for sale (20) 0
Prepaid expenses and other current assets and other assets 4,884 (2,437)
Accounts payable 1,145 1,275
Accrued compensation (1,900) 657
Accrued research costs (690) (280)
Accrued expenses and other current liabilities and other liabilities 2,479 399
Operating lease liabilities (2,614) (4,269)
Net cash used in operating activities (44,130) (65,551)
Cash flows from investing activities:    
Purchases of property and equipment (10,806) (5,573)
Proceeds from sales of property and equipment 1,225 0
Purchases of investments in marketable securities (28,130) (339,814)
Proceeds from maturities of marketable securities 216,975 90,000
Net cash provided by (used in) investing activities 179,264 (255,387)
Cash flows from financing activities:    
Proceeds from issuance of common stock upon exercise of vested stock options 34 18
Proceeds from employee stock purchase plan 157 414
Repurchase of unvested early exercised shares and founders' shares (67) (79)
Net cash provided by financing activities 124 353
Net increase (decrease) in cash, cash equivalents and restricted cash 135,258 (320,585)
Cash, cash equivalents and restricted cash, at beginning of period 49,446 378,692
Cash, cash equivalents and restricted cash, at end of period 184,704 58,107
Reconciliation of cash, cash equivalents and restricted cash to statement of financial position:    
Cash and cash equivalents 182,988 56,391
Restricted cash 1,716 1,716
Cash, cash equivalents and restricted cash in statement of financial position 184,704 58,107
Supplemental disclosures of non-cash investing and financing information:    
Property and equipment purchases in accounts payable and accrued expenses 0 (319)
Lessor funded lease incentive additions included in property and equipment 7,193 2,616
Proceeds from sale of property and equipment in accounts receivable 449 0
Additions to ROU assets from new operating lease liabilities 31,974 0
Vesting of early exercised stock options $ 48 $ 108