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CONDENSED COMBINED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ (369,172) $ (161,910)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 77,927 52,671
Acquisition of IPR&D asset 93,747 0
Depreciation and amortization 1,042 708
Issuance of Former Parent common shares as payment for license and consulting agreements 1,779 7,929
Gain from equity method investment 0 (5,261)
Other non-cash items 0 (1,950)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (11,367) (10,888)
Other non-current assets (4,299) (139)
Accounts payable (44) 3,505
Accrued expenses and other current liabilities (13,456) 845
Other non-current liabilities 1,561 1,706
Net cash used in operating activities (222,282) (112,784)
Cash flows from investing activities:    
Purchases of property and equipment (5,774) (737)
Payment for IPR&D asset acquisition (35,000) 0
Cash acquired in business acquisition 0 1,882
Net cash (used in) provided by investing activities (40,774) 1,145
Cash flows from financing activities:    
Net transfers from Former Parent 237,417 390,437
Other 0 395
Net cash provided by financing activities 237,417 390,832
Net (decrease) increase in cash and restricted cash (25,639) 279,193
Cash and restricted cash at beginning of period 77,057 83,506
Cash and restricted cash at end of period $ 51,418 $ 362,699