v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net loss $ (162,128) $ (150,965)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 26,075 26,592
Depreciation and amortization expense 4,540 4,002
Amortization of investment premiums 851 170
Non-cash operating lease expense 755 734
Loss on disposals of property and equipment 0 93
Asset retirement obligation accretion expense 43 38
Changes in operating assets and liabilities:    
Accounts receivable 1,250 0
Prepaid expenses and other current assets 2,419 1,423
Other assets 18 (288)
Accounts payable 4,356 (2,933)
Accrued compensation (5,135) (2,049)
Accrued research and development expenses (2,942) (97)
Other current liabilities 1,522 (406)
Deferred revenue 2,188 0
Operating lease liabilities (837) (535)
Other long-term liabilities (250) 541
Net cash used in operating activities (127,275) (123,680)
Investing activities    
Purchases of short-term investments (158,869) (228,224)
Proceeds from maturities and sales of short-term investments 208,515 140,235
Purchases of property and equipment (4,258) (3,409)
Net cash provided by (used in) investing activities 45,388 (91,398)
Financing activities    
Proceeds from sale of common stock in underwritten offerings, net 0 189,623
Proceeds from issuance of common stock through ATM facilities, net 2,382 24,172
Proceeds from employee stock awards 4,348 3,234
Taxes paid related to net share settlement of restricted stock units (1,244) (1,395)
Principal payments on finance lease obligations (130) (197)
Other financing activities, net (17) (165)
Net cash provided by financing activities 5,339 215,272
(Decrease) increase in cash, cash equivalents and restricted cash (76,548) 194
Cash, cash equivalents and restricted cash at beginning of period 201,798 75,711
Cash, cash equivalents and restricted cash at end of period 125,250 75,905
Non-cash investing and financing activities    
Property and equipment purchases included in accounts payable and other accrued liabilities 1,000 253
Accrued costs related to underwritten public offering 0 322
Finance lease assets obtained in exchange for lease obligations 0 281
Supplemental cash flow disclosure    
Cash paid for interest 18 37
Cash paid for income taxes $ 7 $ 1

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