CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities:
Net income (loss)	$ 136,283	$ (33,279)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Gain on sale of Cullinan Pearl	(276,785)	0
Depreciation and amortization	34	41
Equity-based compensation expense	20,444	12,230
Amortization or accretion on marketable securities	1,894	1,973
Realized loss on marketable securities	109	0
License expense in exchange for subsidiary common stock	139	67
Loss on disposal of fixed assets	14	0
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(507)	(5,104)
Accounts payable	(1,654)	(5,980)
Accrued expenses and other current liabilities	6,950	1,790
Income tax payable	11,398	0
Net cash used in operating activities	(101,681)	(28,262)
Investing activities:
Purchase of marketable securities	(217,497)	(448,551)
Proceeds from sales and maturities of marketable securities	220,333	130,638
Proceeds from sale of Cullinan Pearl, net cash transferred with sale of $2,898	275,000	0
Purchase of property and equipment	(251)	0
Net cash provided by (used in) investing activities	277,585	(317,913)
Financing activities:
Proceeds from initial public offering	0	267,268
Payment of deferred offering costs	0	(2,688)
Proceeds from issuance of noncontrolling interests	1,153	923
Proceeds from issuance of convertible note	2,200	0
Repayment of convertible note	(2,200)	0
Proceeds from net issuance of common stock under equity-based compensation plans	5,826	579
Net cash provided by financing activities	6,979	266,082
Net increase (decrease) in cash and cash equivalents	182,883	(80,093)
Cash and cash equivalents at beginning of period	59,774	168,198
Cash and cash equivalents at end of period	242,657	88,105
Non-cash financing activities and supplemental cash flow information
Purchases of property and equipment included in accounts payable and accrued expenses and other liabilities	513	0
Cash paid for income taxes	32,582	0
Deferred offering costs paid in the prior year	$ 0	$ 65