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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended 74 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (115,011) $ (64,199)  
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Depreciation and amortization 3,225 3,107  
Equity-based compensation 17,038 8,921  
Amortization/(accretion) of investment premiums/(discounts) 2,868 (268)  
Changes in operating assets and liabilities:      
Accounts receivable 137 756  
Prepaid expenses and other current assets (8,703) (564)  
Operating right-of-use assets 4,018 3,195  
Other assets (229) 239  
Accounts payable (2,606) (3,899)  
Accrued expenses 10,135 2,434  
Deferred revenue (11,179) 71,869  
Operating lease liabilities (5,050) (2,719)  
Net cash (used in) provided by operating activities (105,357) 18,872  
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment (5,350) (1,881)  
Purchases of marketable securities (185,431) (31,208)  
Maturities of marketable securities 198,499 183,500  
Net cash provided by investing activities 7,718 150,411  
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock     $ 1,166,100
Proceeds from options exercised 19,503 1,370  
Issuance of shares through employee stock purchase plan 970 685  
Net cash provided by financing activities 65,728 137,089  
Net (decrease) increase in cash and cash equivalents and restricted cash and cash equivalents (31,911) 306,372  
Cash and cash equivalents and restricted cash and cash equivalents, beginning of period 164,606 57,226  
Cash and cash equivalents and restricted cash and cash equivalents, end of period 132,695 363,598 132,695
Reconciliation of cash and cash equivalents and restricted cash and cash equivalents to condensed consolidated balance sheet:      
Cash and cash equivalents 129,879 361,687 129,879
Restricted cash and cash equivalents, included in prepaids and other current assets and other assets 2,816 1,911 2,816
Cash and cash equivalents and restricted cash and cash equivalents, end of period 132,695 363,598 132,695
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Purchases of property and equipment unpaid at period end 1,969 432  
Right-of-use assets acquired under operating leases 41,974 7,527  
Offering costs unpaid at period end 208    
Follow-on Offering [Member]      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock   107,732 438,300
At The Market Offerings [Member]      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock $ 45,255 14,722 $ 196,500
Regeneron Pharmaceuticals Inc. [Member]      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock   $ 12,580