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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (90,628) $ (51,116)
Adjustments to reconcile net loss to net cash used in operating activities:    
Noncash stock compensation expense 16,618 11,068
Depreciation and amortization 59 30
Amortization of premium on investment securities 127  
Amortization of premium on investment securities   (44)
Amortization of debt issuance costs 231 231
Amortization of leasehold interest 53 54
Noncash change in lease liability and right of use asset 479 2,001
Change in fair value of notes payable (58) (20)
Changes in assets and liabilities:    
Increase in other current assets (4,107) (1,017)
Increase in accounts receivable (771)  
Increase (decrease) in accounts payable and accrued expenses 904 (1,567)
Decrease in lease liabilities (507) (1,967)
Decrease in other liabilities (3,717) (19,730)
Decrease in deferred revenue (38) (38)
Net cash used in operating activities (81,355) (62,115)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturity of short-term securities 17,000 9,000
Investment in held-to-maturity securities (17,447) (7,482)
Purchases of equipment (67) (68)
Net cash (used in) provided by investing activities (514) 1,450
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of options 128 81
Offering costs paid (183)  
Net cash (used in) provided by financing activities (55) 81
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (81,924) (60,584)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 554,698 113,887
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 472,774 $ 53,303