Annual report pursuant to Section 13 and 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net loss $ (113,871,000) $ (165,456,000) $ (158,090,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 9,453,000 5,266,000 5,630,000
Amortization 387,000 809,000 937,000
Gain on bargain purchase (22,049,000)    
Share-based compensation expense 11,773,000 18,240,000 20,629,000
Unrealized foreign exchange losses/(gains) 198,000 (2,438,000) 540,000
(Accretion)/amortization on available-for-sale debt securities (1,986,000) 2,525,000 5,276,000
Other 167,000 816,000 1,173,000
Changes in operating assets and liabilities:      
Increase in receivables and other operating assets (1,291,000) (9,813,000) (19,358,000)
(Decrease)/increase in payables and other current liabilities (9,087,000) 4,408,000 4,207,000
Decrease in deferred revenue (14,574,000) 3,874,000 149,785,000
Net cash used in operating activities (140,880,000) (141,769,000) 10,729,000
Cash flows from investing activities      
Acquisition of property, plant and equipment (4,681,000) (29,496,000) (8,574,000)
Acquisition of intangible assets (199,000) (244,000) (207,000)
Cash from acquisition of TCR2 Therapeutics Inc. 45,264,000    
Maturity or redemption of marketable securities 210,983,000 166,994,000 224,343,000
Investment in marketable securities (75,953,000) (48,117,000) (139,762,000)
Other 1,124,000    
Net cash provided by investing activities 176,538,000 89,137,000 75,800,000
Cash flows from financing activities      
Proceeds from issuance of common stock from offerings, net of commissions and issuance costs 624,000 12,817,000 2,529,000
Proceeds from exercise of stock options 256,000 50,000 759,000
Net cash provided by financing activities 880,000 12,867,000 3,288,000
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash 877,000 (2,299,000) 365,000
Net increase/(decrease) in cash, cash equivalents and restricted cash 37,415,000 (42,064,000) 90,182,000
Cash, cash equivalents and restricted cash at start of period 109,602,000 151,666,000 61,484,000
Cash, cash equivalents and restricted cash at end of period 147,017,000 109,602,000 151,666,000
Supplemental cash flow information      
Interest received 4,748,000 5,149,000 7,765,000
Accretion/(amortization) on available-for-sale debt securities (1,986,000) 2,525,000 5,276,000
Income taxes paid $ (4,000,000) $ (630,000) $ (535,000)