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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (145,341) $ (254,763)
Adjustments to reconcile net loss to net cash used in operating activities:    
Noncash stock compensation expense 8,134 46,918
Depreciation and amortization 230 202
Amortization of premium (discount) on investment securities (172) 421
Amortization of debt issuance costs 1,383 694
Amortization of leasehold interest 159 159
Noncash change in lease liability and right of use asset 2,205 1,422
Change in fair value of notes payable (241) (315)
Changes in assets and liabilities:    
Decrease (increase) in other current assets 7,842 (7,255)
Decrease (increase) in accounts receivable 1,389 (1,384)
(Decrease) increase in accounts payable and accrued expenses (27,436) 12,090
Decrease in lease liabilities (1,741) (1,507)
Increase (decrease) in other current liabilities 1,403 (5,293)
Decrease in deferred revenue (114) (114)
Net cash used in operating activities (152,300) (208,725)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturity of short-term securities 67,005 40,000
Investment in held-to-maturity securities (103,276) (43,299)
Purchases of PPE (11) (321)
Net cash used in investing activities (36,282) (3,620)
CASH FLOWS FROM FINANCING ACTIVITIES    
Payment of loan payable (975) (14,590)
Proceeds from exercise of options 535 216
Offering costs paid   (204)
Net cash used in financing activities (440) (14,578)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (189,022) (226,923)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 300,151 554,698
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 111,129 $ 327,775