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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net Income (Loss) $ (192,744) $ (138,834)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock compensation expense 44,929 28,602
Depreciation expense 2,531 1,931
Net amortization of premiums and discounts on investments (4,218) 1,227
Change in fair value of contingent consideration liability (3,155) (4,395)
Changes in assets and liabilities:    
Accounts receivable 228 115
Contract asset 4,913 (227)
Prepaid expenses and other current assets 2,671 478
Operating lease assets and liabilities, net 809 73
Accounts payable 4,202 (4,611)
Accrued expenses and other liabilities 4,088 9,540
Deferred revenue 15 (165)
Net cash used in operating activities (135,731) (106,266)
Cash flows from investing activities:    
Purchases of property and equipment (3,418) (4,651)
Purchases of investments (163,975) (151,945)
Proceeds from maturities of investments 293,984 87,600
Net cash provided by (used in) investing activities 126,591 (68,996)
Cash flows from financing activities:    
Proceeds from issuance of common stock upon exercise of stock options 1,750 1,742
Proceeds from issuance of common stock under ESPP 1,627 1,137
Net cash provided by financing activities 3,377 2,879
Net decrease in cash, cash equivalents, and restricted cash (5,763) (172,383)
Cash, cash equivalents, and restricted cash at beginning of period 154,372 282,697
Cash, cash equivalents and restricted cash at end of period 148,609 110,314
Supplemental disclosure of non-cash activities:    
Periodic change to additions of property and equipment in accounts payable and accrued expenses $ (772) $ 669