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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (98,123) $ (85,838)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,249 2,223
Amortization and premium of marketable securities, net (4,043) 1,366
Loss on sale or disposal of assets   1
Gain on fair value remeasurement of contingent consideration 0 (6,862)
Stock-based compensation expense 16,678 11,103
Changes in operating assets and liabilities:    
Accounts and other receivables 95 (17)
Prepaid and other current assets 1,757 (7,928)
Other assets (3)  
Accounts payable and accrued expenses 5,507 720
Other liabilities 1,125 3,262
Net cash used in operating activities (74,758) (81,970)
Cash flows from investing activities:    
Sales and maturities of marketable securities 249,703 192,866
Purchases of marketable securities (183,172) (132,613)
Acquisition of property and equipment (1,152) (1,593)
Proceeds from sale or disposal of assets   69
Net cash provided by investing activities 65,379 58,729
Cash flows from financing activities:    
Proceeds from issuance of stock from employee benefit plans 1,084 2,681
Net cash provided by financing activities 1,084 2,681
Net decrease in cash and cash equivalents (8,295) (20,560)
Cash and cash equivalents at beginning of period 29,429 39,143
Cash and cash equivalents at end of period 21,134 18,583
Non-cash investing activities    
Accrued construction in progress $ 488 $ 38