XML 22 R7.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss $ (162,696) $ (128,248)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 22,223 15,421
Depreciation and amortization expense 250 217
Amortization of debt issuance costs and discount 987 178
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (582) (1,442)
Accounts payable (6,297) (10,086)
Accrued expense (9,700) 16,788
Accrued interest, net of interest received on maturity of investments (3,562) (101)
Net cash used in operating activities (159,377) (107,273)
Cash flows from investing activities:    
Purchases of marketable securities (290,696) (116,496)
Sales and maturities of marketable securities 100,204 191,813
Purchases of property and equipment, net of disposals (104) (155)
Net cash provided by (used in) investing activities (190,596) 75,162
Cash flows from financing activities:    
Proceeds from issuances of stock, excluding related parties, net of transaction costs 21,754 0
Proceeds from the sale of related party stock and exercise of common stock options, net of transaction costs 24,154 0
Proceeds from issuance of loan payable 50,000 50,000
Payment of debt issuance costs (288) (886)
Net cash provided by financing activities 95,620 49,114
Net increase (decrease) in cash and cash equivalents (254,353) 17,003
Cash and cash equivalents at beginning of period 331,549 36,269
Cash and cash equivalents at end of period 77,196 53,272
Supplemental disclosure of cash flow information:    
Obtaining a right-of-use asset in exchange for a lease liability $ 0 $ 583