v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net loss $ (246,792) $ (225,313)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 39,837 39,847
Depreciation and amortization expense 6,857 6,175
Amortization of investment premiums 1,251 458
Non-cash operating lease expense 1,275 1,100
Loss on disposals of property and equipment 0 93
Asset retirement obligation accretion expense 64 58
Changes in operating assets and liabilities:    
Accounts receivable 1,250 0
Prepaid expenses and other current assets 10,841 717
Operating lease assets 0 886
Other assets 27 (209)
Accounts payable 8,710 (2,718)
Accrued compensation (1,318) 2,004
Accrued research and development expenses (5,839) 542
Other current liabilities 1,859 (459)
Deferred revenue (3,182) 0
Operating lease liabilities (1,294) (924)
Other long-term liabilities 201 1,104
Net cash used in operating activities (186,253) (176,639)
Investing activities    
Purchases of short-term investments (224,754) (279,192)
Proceeds from maturities and sales of short-term investments 279,450 199,268
Purchases of property and equipment (8,114) (3,912)
Net cash provided by (used in) investing activities 46,582 (83,836)
Financing activities    
Proceeds from sale of common stock in underwritten offerings, net 0 189,301
Proceeds from issuance of common stock through ATM facilities, net 48,739 58,045
Proceeds from employee stock awards 5,190 3,407
Taxes paid related to net share settlement of restricted stock units (1,244) (1,521)
Principal payments on finance lease obligations (192) (289)
Other financing activities, net (17) (165)
Net cash provided by financing activities 52,476 248,778
Decrease in cash, cash equivalents and restricted cash (87,195) (11,697)
Cash, cash equivalents and restricted cash at beginning of period 201,798 75,711
Cash, cash equivalents and restricted cash at end of period 114,603 64,014
Non-cash investing and financing activities    
Property and equipment purchases included in accounts payable and other accrued liabilities 1,858 230
Proceeds from issuance of common stock through ATM facilities not yet received 2,344 254
Operating lease assets obtained in exchange for lease obligations 13,427 0
Finance lease assets obtained in exchange for lease obligations 0 281
Receivable for options exercised 0 12
Supplemental cash flow disclosure    
Cash paid for interest 25 50
Cash paid for income taxes $ 16 $ 7

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