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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities:    
Net loss $ (105,855) $ (89,188)
Items not involving cash:    
Depreciation 1,258 956
Deferred income tax expense 70 64
Stock-based compensation 24,116 14,447
Unrealized foreign exchange (gain) loss 118 (452)
Unrealized fair value gain on trading securities   (2,914)
Changes in operating assets and liabilities:    
Accounts receivable 16 269
Prepaid expenses and other current assets 285 4,199
Accounts payable and accrued expenses 4,135 4,987
Net cash used in operating activities (75,857) (67,632)
Investing activities:    
Purchases of property, plant and equipment (1,702) (4,339)
Purchases of marketable securities (301,826) (270,554)
Proceeds from marketable securities 368,045 349,417
Net cash provided by investing activities 64,517 74,524
Effect of exchange rate changes on cash and cash equivalents (569) 418
Increase (decrease) in cash and cash equivalents (11,909) 7,310
Cash and cash equivalents, beginning of period 148,643 57,242
Cash and cash equivalents, end of period 136,734 64,552
Supplemental disclosure:    
Cash paid for operating lease 819 709
Supplemental disclosures of non-cash transactions:    
Fair value of stock options exercised on a cashless basis $ 4,084 3,114
Fair value of pre-funded warrants exercised   14,758
Increase in operating lease liability and accounts receivable related to lease incentives claimed in the period   $ 1,380