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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net loss $ (31,264) $ (37,513)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 2,908 1,160
Amortization of deferred financing cost 56 76
Non-cash operating lease expense (738) 188
Stock based compensation 3,797 2,380
Change in operating assets and liabilities:    
Escrow deposit 220 125
Prepaid expenses and other assets (160) 1,033
Operating lease liability 3,842 (152)
Deferred revenue (1,720) 122,129
Accounts payable (2,954) (1,503)
Accrued expenses and other liabilities (3,206) (1,170)
Net cash (used in) provided by operating activities (29,219) 86,753
Cash flows from investing activities    
Acquisition of property and equipment (4,991) (4,067)
Acquisition of fixed maturity securities, available for sale (42,829) (103,060)
Sale of fixed maturity securities, available for sale 79,158 63,090
Net cash provided by (used in) investing activities 31,338 (44,037)
Cash flows from financing activities    
Proceeds from issuance of common stock 448 65
Proceeds from issuance of shares to collaboration partner   26,813
Net cash provided by financing activities 448 26,878
Net increase in cash, cash equivalents, and restricted cash 2,567 69,594
Cash, cash equivalents and restricted cash, beginning of period 86,244 58,162
Cash, cash equivalents and restricted cash, end of period 88,811 127,756
Supplemental disclosure of cash and non-cash operating activities:    
Cash paid for interest 345 238
Supplemental disclosure of non-cash investing and financing activities:    
Purchase of property and equipment, accrued and unpaid $ 975 $ 3,796