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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:        
Net loss   $ (406,476) $ (261,436)  
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation expense   62,204 34,883  
Depreciation and amortization expense   733 385  
Amortization of debt issuance costs and discount   1,607 1,661  
Amortization and interest accretion related to operating leases   (458) 0  
Changes in operating assets and liabilities:        
Trade receivables, net   (30,463) 0  
Prepaid expenses and other current assets   (17,711) (523)  
Inventory   (8,715) 0  
Accounts payable   17,925 (7,289)  
Accrued liabilities   41,023 (8,851)  
Accrued interest, net of interest received on maturity of investments   (10,755) (3,127)  
Net cash used in operating activities   (351,086) (244,297)  
Cash flows from investing activities:        
Purchases of marketable securities   (781,021) (359,549)  
Sales and maturities of marketable securities   560,852 219,595  
Acquisition of intangible asset   (5,000) 0  
Purchases of property and equipment, net of disposals   (1,267) (443)  
Net cash used in investing activities   (226,436) (140,397)  
Cash flows from financing activities:        
Proceeds from issuance of loan payable   0 65,000  
Payment of debt issuance costs   0 (363)  
Net cash provided by financing activities   715,291 115,200  
Net increase (decrease) in cash, cash equivalents, and restricted cash   137,769 (269,494)  
Cash, cash equivalents, and restricted cash at beginning of period   99,915 331,549 $ 331,549
Cash, cash equivalents, and restricted cash at end of period $ 237,684 237,684 62,055 99,915
Supplemental disclosure of cash flow information:        
Obtaining a right-of-use asset in exchange for a lease liability $ 1,200 1,168 1,628 $ 1,600
Nonrelated Party        
Cash flows from financing activities:        
Proceeds from issuance or sale of equity   397,510 24,484  
Related Party        
Cash flows from financing activities:        
Proceeds from issuance or sale of equity   $ 317,781 $ 26,079