XML 45 R8.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net income (loss) $ 377,661 $ (348,865) $ 66,858
Reconciliation of net income (loss) to net cash used in operating activities:      
Depreciation and amortization 17,953 9,184 4,725
Equity-based compensation 102,390 66,018 44,057
Loss from equity method investment in Casebia     5,467
Gain from consolidation of Casebia     (16,000)
Net amortization of premiums and discounts on marketable securities 14,109 1,857  
Changes in:      
Accounts receivable (161) (45) (11)
Prepaid expenses and other assets (13,912) 17,338 (32,618)
Accounts payable and accrued expenses 37,514 25,747 5,025
Deferred revenue (783) 1,381 (45,146)
Operating lease assets and liabilities 9,506 (473) (663)
Other liabilities, net (5,305) (10,508) 24,983
Net cash provided by (used in) operating activities 538,972 (238,366) 56,677
Investing activities      
Purchase of property, plant and equipment (81,705) (18,358) (6,684)
Net cash and restricted cash received in connection with the acquisition of Casebia     8,009
Purchases of marketable securities (1,509,327) (593,998)  
Maturities of marketable securities 555,602 71,186  
Net cash (used in) provided by investing activities (1,035,430) (541,170) 1,325
Financing activities      
Proceeds from issuance of common shares, net of issuance costs 213,267 982,289 415,019
Proceeds from exercise of options and ESPP contributions, net of issuance costs 37,678 33,863 15,964
Net cash provided by financing activities 250,945 1,016,152 430,983
Effect of exchange rate changes on cash (11) 40 15
(Decrease) increase in cash (245,524) 236,656 489,000
Cash, cash equivalents and restricted cash, beginning of period 1,185,468 948,812 459,812
Cash, cash equivalents and restricted cash, end of period 939,944 1,185,468 948,812
Supplemental disclosure of non-cash investing and financing activities      
Property and equipment purchases in accounts payable and accrued expenses 8,348 3,412 1,811
Equity issuance costs in accounts payable and accrued expenses $ 334 $ 9,590 $ 295