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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net loss $ (221,138) $ (185,190)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 19,533 10,506
Amortization of right-of-use assets and non-cash lease expense 3,875 3,698
Amortization of premiums and accretion of discounts on marketable securities (5,512) 3,713
Stock-based compensation expense 87,982 59,407
Other 501 608
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 133 5,238
Accounts payable, accrued liabilities and accrued compensation (4,017) 701
Other long-term liabilities (100) 2,100
Operating lease liability (1,251) 486
Net cash used in operating activities (119,994) (98,733)
Investing activities    
Purchases of property and equipment (52,732) (66,925)
Proceeds from maturities of marketable securities 452,483 419,240
Proceeds from sales of marketable securities 1,477 15,105
Purchases of marketable securities (290,780) (250,787)
Net cash provided by investing activities 110,448 116,633
Financing activities    
Proceeds from exercise of stock options and employee stock purchase plan 7,633 4,967
Principal payment for finance lease (640) (199)
Net cash provided by financing activities 6,993 4,768
Net increase (decrease) in cash, cash equivalents and restricted cash (2,553) 22,668
Cash, cash equivalents and restricted cash at beginning of period 252,916 338,223
Cash, cash equivalents and restricted cash at end of period 250,363 360,891
Supplemental disclosure of cash flow information    
Cash paid for interest 602 607
Purchases of property and equipment, not yet paid $ 9,416 $ 17,871