XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (109,523) $ (169,125)
Adjustments to reconcile net loss to net cash used in operating activities:    
Noncash stock compensation expense 1,146 32,922
Depreciation and amortization 154 126
Amortization of premium on investment securities (17) 282
Amortization of debt issuance costs 922 463
Amortization of leasehold interest 106 106
Noncash change in lease liability and right of use asset 1,014 949
Change in fair value of notes payable (276) (221)
Changes in assets and liabilities:    
Decrease (increase) in other current assets 8,054 (4,421)
Decrease (increase) in accounts receivable 1,301 (931)
(Decrease) increase in accounts payable and accrued expenses (21,355) 3,271
Decrease in lease liabilities (995) (1,006)
Increase (decrease) in other current liabilities 1,740 (3,863)
Decrease in deferred revenue (76) (76)
Net cash used in operating activities (117,805) (141,524)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturity of short-term securities 38,525 28,750
Investment in held-to-maturity securities (71,810) (31,497)
Purchases of PPE (7) (242)
Net cash used in investing activities (33,292) (2,989)
CASH FLOWS FROM FINANCING ACTIVITIES    
Payment of loan payable (975) (7,200)
Proceeds from exercise of options 260 166
Offering costs paid   (183)
Net cash used in financing activities (715) (7,217)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (151,812) (151,730)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 300,151 554,698
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 148,339 $ 402,968