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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net loss $ (173,825) $ (86,513)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 722 317
Stock-based compensation 33,389 21,213
Amortization (accretion) of premium (discount) on marketable securities 25 (145)
Amortization of operating lease right-of-use asset 5,811 1,793
Amortization of issuance costs 39 36
Changes in assets and liabilities:    
Prepaid expenses and other current assets (3,228) 1,518
Other assets (936) (3,654)
Accounts payable 3,255 1,616
Accrued and other current liabilities 10,547 7,566
Operating lease liability 966 (156)
Net cash used in operating activities (123,235) (56,409)
Cash flows from investing activities    
Purchase of property and equipment (8,598) (1,855)
Deposits on property and equipment (43,841) 0
Purchase of marketable securities 0 (86,317)
Maturities of marketable securities 24,500 134,148
Net cash provided by (used in) investing activities (27,939) 45,976
Cash flows from financing activities    
Proceeds from issuance of common stock upon options exercise 5,753 1,692
Payments for restricted stock units, net of taxes withheld 0 (206)
Proceeds from issuance of common stock pursuant to employee stock purchase plans 305 0
Proceeds from sale of future royalties, net of issuance costs 0 99,643
Principal payments of capital lease 0 (5)
Principal payments of tenant improvement allowance payable (33) (28)
Net cash provided by financing activities 6,025 101,096
Net increase (decrease) in cash, cash equivalents and restricted cash (145,149) 90,663
Cash, cash equivalents and restricted cash, at beginning of period 950,720 211,937
Cash, cash equivalents and restricted cash, at end of period 805,571 302,600
Reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets    
Cash and cash equivalents 799,247 291,585
Restricted cash 6,324 11,015
Cash, cash equivalents and restricted cash, at end of period 805,571 302,600
Supplemental disclosures of non-cash investing and financing information:    
Operating lease right-of-use asset obtained in exchange for operating lease liability 583 75,545
Purchase of property and equipment under accounts payable and accruals $ 10,730 $ 1,034