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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flow from operating activities    
Net loss $ (134,345) $ (159,694)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 14,453 23,930
Depreciation 4,598 4,760
Loss on disposal of fixed assets 1,583 0
Net amortization of premiums and discounts on marketable securities (2,720) (226)
Changes in operating assets and liabilities:    
Accounts receivable 2,723 147
Prepaid expenses and other current assets 771 307
Right-of-use assets 11,712 3,641
Other non-current assets (502) (719)
Accounts payable 1,102 1,674
Accrued expenses 22 (485)
Deferred revenue 0 (3,333)
Operating lease liabilities (9,335) (5,078)
Net cash used in operating activities (109,938) (135,076)
Cash flow from investing activities    
Purchases of property and equipment (3,412) (3,494)
Proceeds from the sale of equipment 0 18
Purchases of marketable securities (219,764) (209,782)
Proceeds from maturities of marketable securities 156,605 354,854
Net cash (used in) provided by investing activities (66,571) 141,596
Cash flow from financing activities    
Proceeds from offering of common stock, net of issuance costs 117,079 0
Proceeds from exercise of stock options 11 298
Proceeds from issuance of common stock under employee stock purchase plan 435 367
Net cash provided by financing activities 117,525 665
Net (decrease) increase in cash, cash equivalents, and restricted cash (58,984) 7,185
Cash, cash equivalents, and restricted cash, beginning of period 145,399 207,396
Cash, cash equivalents, and restricted cash, end of period 86,415 214,581
Supplemental disclosure of cash and non-cash activities:    
Fixed asset additions included in accounts payable and accrued expenses 199 413
Cash paid in connection with operating lease liabilities 9,103 11,894
Right-of-use assets obtained in exchange of operating lease obligations $ 1,069 $ 4,708