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Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net (loss) income $ (67,413) $ 27,416
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation and amortization 3,529 3,125
Amortization of premium on marketable securities 1,982 293
Stock-based compensation 16,354 8,830
Noncash lease expenses 3,841  
Unrealized loss (gain) on equity securities 1,881 (78,638)
Remeasurement of liability awards 73 3,165
Other 406 558
Changes in operating assets and liabilities:    
Accounts receivable (6,771) (1,185)
Prepaid expenses and other assets (4,534) 823
Accounts payable 4,484 (716)
Accrued compensation (336) (127)
Other liabilities 629 (747)
Deferred rent   (129)
Deferred revenue (12,754) (11,591)
Change in operating lease liability (1,470)  
Net cash used in operating activities (60,099) (48,923)
Investing activities    
Purchases of marketable securities (226,109) (113,999)
Maturities of marketable securities 106,750 82,300
Sales of marketable securities 14,049 22,000
Purchases of equipment and leasehold improvements (12,786) (5,504)
Net cash used in investing activities (118,096) (15,203)
Financing activities    
Proceeds from public offering   115,438
Payment of issuance costs   (7,188)
Proceeds from debt refinancing   25,000
Payment of debt   (10,000)
Proceeds from exercise of common stock options 1,972 172
Taxes paid related to net shares settlement of restricted stock units (987) (314)
Proceeds from employee stock purchase plan 1,765 1,285
Net cash provided by financing activities 2,750 124,393
Net (decrease) increase in cash, cash equivalents and restricted cash (175,445) 60,267
Cash, cash equivalents and restricted cash at beginning of period 207,024 4,975
Cash, cash equivalents and restricted cash at end of period 31,579 65,242
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,536 1,165
Supplemental disclosure of non-cash investing and financing information:    
Purchases of equipment included in accounts payable 2,165 11
Embedded interest associated with program fees 561 1,544
Warrants issued to lenders   $ 619
Remeasurement of operating lease right-of-use assets for lease modification $ 4,227