v3.23.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net loss $ (65,954) $ (136,206)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 6,647 4,009
Amortization 322 629
Gain on bargain purchase (22,049)  
Share-based compensation expense 8,692 14,294
Unrealized foreign exchange losses/(gains) 709 (2,501)
(Accretion)/amortization on available-for-sale debt securities (1,595) 2,165
Other 253 765
Changes in operating assets and liabilities:    
Increase in receivables and other operating assets (709) (29,778)
(Decrease)/increase in payables and other current liabilities (7,792) 15,200
Decrease in deferred revenue (44,728) (12,388)
Net cash used in operating activities (126,204) (143,811)
Cash flows from investing activities    
Acquisition of property, plant and equipment (3,854) (26,081)
Acquisition of intangible assets (199) (231)
Cash from acquisition of TCR2 Therapeutics Inc. 45,264  
Maturity or redemption of marketable securities 139,243 136,694
Investment in marketable securities (73,026) (42,197)
Other 913  
Net cash provided by investing activities 108,341 68,185
Cash flows from financing activities    
Proceeds from issuance of common stock from offerings, net of commissions and issuance costs 623 11,422
Proceeds from exercise of stock options 183 42
Net cash provided by financing activities 806 11,464
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash 527 (6,791)
Net decrease in cash, cash equivalents and restricted cash (16,530) (70,953)
Cash, cash equivalents and restricted cash at start of period 109,602 151,666
Cash, cash equivalents and restricted cash at end of period $ 93,072 $ 80,713

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