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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net loss     $ (226,807) $ (247,550)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization     4,220 3,591  
Loss on disposal of property and equipment     15 0  
Equity-based compensation     63,655 41,559  
(Accretion)/amortization of investment discounts and premiums     (11,667) 4,428  
Loss from equity method investment $ 4,000 $ 3,252 7,048 5,997  
Deferral of equity method investment intra-entity profit on sales     5,656 5,656  
Change in fair value of contingent consideration 0 (172) 100 249  
In-process research and development charge     0 55,990  
Changes in operating assets and liabilities:          
Accounts receivable     (1,289) (824)  
Prepaid expenses and other current assets     (6,078) 434  
Operating lease right-of-use assets     9,373 5,368  
Other assets     (503) (802)  
Accounts payable     6,287 (3,710)  
Accrued expenses     (12,525) (721)  
Deferred revenue     (28,919) (30,099)  
Operating lease liabilities     (8,217) (4,458)  
Net cash used in operating activities     (199,651) (164,892)  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Purchases of property and equipment     (8,133) (5,409)  
Purchases of marketable securities     (625,319) (31,524)  
Maturities of marketable securities     476,666 224,583  
Acquired in-process research and development, net of cash acquired of $287     0 (44,832)  
Net cash (used in) provided by investing activities     (156,786) 142,818  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from options exercised     1,220 13,262  
Issuance of shares through employee stock purchase plan     2,051 1,068  
Net cash provided by financing activities     4,737 53,215  
Net (decrease) increase in cash and cash equivalents and restricted cash equivalents     (351,700) 31,141  
Cash, cash equivalents and restricted cash equivalents, beginning of period     535,463 125,486 $ 125,486
Cash, cash equivalents and restricted cash equivalents, end of period 183,763 156,627 183,763 156,627 535,463
Reconciliation of cash, cash equivalents and restricted cash equivalents to condensed consolidated balance sheet:          
Cash and cash equivalents 171,806 147,781 171,806 147,781 523,506
Restricted cash equivalents, included in investments and other assets 11,957 8,846 11,957 8,846  
Total cash, cash equivalents and restricted cash equivalents 183,763 156,627 183,763 156,627 $ 535,463
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:          
Purchases of property and equipment unpaid at period end     2,998 3,750  
Shares issued for Rewrite research milestone liability 24,126 0 24,126 0  
Contingent consideration liability assumed in asset acquisition $ 0 $ 10,541 0 10,541  
At The Market Offerings [Member]          
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from issuance of common stock     $ 1,466 $ 38,885