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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (44,617) $ (52,171)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 1,589 1,541
Stock-based compensation 11,939 8,800
Amortization of premiums and accretion of discounts on marketable securities 570 594
Amortization of right-of-use assets 670 461
Changes in operating assets and liabilities:    
Receivable from collaboration partner (5,428) 0
Prepaid expenses and other current assets (2,465) (3,790)
Other assets (358) 25
Accounts payable 2,043 2,592
Accrued liabilities and accrued clinical supply costs (3,383) (5,500)
Deferred revenue 175,526 (4,110)
Lease liabilities (995) (821)
Other long-term liabilities 0 (314)
Net cash provided by (used in) operating activities 135,091 (52,693)
Cash flows from investing activities:    
Purchase of property and equipment (692) (947)
Purchase of marketable securities (30,114) 0
Maturities of marketable securities 18,700 110,500
Net cash provided by (used in) investing activities (12,106) 109,553
Cash flows from financing activities:    
Proceeds from the exercise of options to purchase common stock 2,483 3,874
Net cash provided by financing activities 2,483 3,874
Net increase in cash, cash equivalents, and restricted cash 125,468 60,734
Cash, cash equivalents, and restricted cash at beginning of period 330,624 51,441
Cash, cash equivalents, and restricted cash at end of period 456,092 112,175
Non-cash investing and financing activities:    
Property and equipment purchases included in accounts payable and accrued liabilities $ 499 $ 628