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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flow from operating activities    
Net loss $ (4) $ (80)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 20 19
Depreciation and amortization 3 2
Noncash lease expense 2 2
Impairment of long-lived assets 20 0
Amortization of discounts on marketable securities (6) (4)
Other items, net 0 1
Changes in operating assets and liabilities:    
Receivable from collaboration partners (($1) and $6 from a related party) 13 6
Other assets ($6 and ($1) from a related party) 5 (8)
Accounts payable (1) 10
Deferred revenue (($54) and ($25) to a related party) (42) (25)
Other liabilities (12) (21)
Net cash used in operating activities (2) (98)
Cash flow from investing activities    
Purchases of marketable securities (387) (154)
Proceeds from maturities of marketable securities 222 284
Proceeds from sales of marketable securities 0 2
Purchases of property and equipment (4) (3)
Net cash provided by (used in) investing activities (169) 129
Cash flow from financing activities    
Proceeds from issuance of common stock ($228 and $— from a related party) 228 0
Proceeds from issuance of common stock pursuant to equity award plans 1 1
Net cash provided by financing activities 229 1
Net increase in cash, cash equivalents and restricted cash 58 32
Cash, cash equivalents and restricted cash at beginning of period 130 209
Cash, cash equivalents and restricted cash at end of period 188 241
Non-cash investing and financing activities:    
Unpaid portion of property and equipment purchases included in Accounts payable and Other current liabilities $ 1 $ 4