16 unchanged sentences
Purchases of Equity Securities by the Issuer or Affiliated Purchasers
−Removed: Neither we nor any affiliated purchaser or anyone acting on behalf of us or an affiliated purchaser made any repurchases of shares of our common stock during the fourth quarter of 2020.
−Removed: Selected Consolidated Financial Data
−Removed: You should read the following selected historical consolidated financial data along with Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, and the consolidated financial statements and related notes thereto contained in this Annual Report on Form 10-K.
−Removed: The following selected financial information included in the tables below are derived from our consolidated financial statements.
−Removed: Our historical results for any prior period are not necessarily indicative of results to be expected in any future period.
−Removed: Selected Consolidated Financial Data
−Removed: Years Ended December 31,
−Removed: (in thousands, except shares and per share amounts)
−Removed: 2020 2019 2018 (1)
−Removed: Results of Operations
−Removed: Total revenue $ 203,196 $ 117,912 $ 94,387 $ 43,011 $ 69,892
−Removed: Total cost and expenses (3)
−Removed: 519,345 544,245 456,866 363,805 270,877
−Removed: Loss from operations (316,149) (426,333) (362,479) (320,794) (200,985)
−Removed: Net loss $ (327,370) $ (411,472) $ (346,028) $ (314,670) $ (198,471)
−Removed: Net loss per share – basic and diluted $ (4.74) $ (6.86) $ (6.03) $ (6.75) $ (5.07)
−Removed: Weighted-average number of common shares used in computing net loss per share – basic and diluted 68,997,879 59,994,539 57,418,300 46,587,631 39,126,400
−Removed: Financial Position at Year End:
−Removed: Cash, cash equivalents and marketable securities $ 670,537 $ 717,806 $ 805,421 $ 567,750 $ 573,564
−Removed: Operating lease assets (2)
−Removed: 84,661 93,643 — — —
−Removed: Total assets (2)
−Removed: 852,952 890,741 858,457 614,397 619,094
−Removed: Deferred revenue — 61,513 92,519 163,640 190,210
−Removed: Operating lease liabilities (2)
−Removed: 104,551 112,716 — — —
−Removed: Total liabilities (2)
+Added: On March 25, 2021, we announced that our board of directors authorized a share repurchase program to purchase up to $1.2 billion of our outstanding shares of common stock, or the Repurchase Program.
+Added: Under the Repurchase Program, we are authorized to repurchase shares through open market purchases, privately negotiated block sales and through Rule 10b5-1 repurchase plans.
+Added: The Repurchase Program has no expiration date.
+Added: On March 31, 2021, in connection with the Repurchase Program, we entered into a definitive share repurchase agreement with BMS to repurchase 7.1 million shares of our common stock held by certain subsidiaries of BMS for an aggregate purchase price of $344.5 million, or $48.38 per share.
+Added: This repurchase was completed on April 5, 2021.
+Added: On April 2, 2021, in connection with the Repurchase Program, we entered into a Rule 10b5-1 repurchase plan to repurchase up to $600 million of shares of our common stock of the $1.2 billion shares authorized.
+Added: As of December 31, 2021, we have repurchased approximately 9.1 million shares of common stock for $458.0 million, or $50.35 per share, under the Rule 10b5-1 repurchase plan.
+Added: In total, as of December 31, 2021, we have repurchased 16.2 million shares of common stock for $802.5 million, or $49.49 per share, under the Repurchase Program.
+Added: On October 5, 2021, we terminated our Rule 10b5-1 share repurchase plan and on October 13, 2021 we entered into a Rule 10b-18 repurchase plan that allows us to conduct open market repurchases over time up to our remaining authorization under the Repurchase Program.
+Added: As of December 31, 2021, we have not repurchased any shares under the Rule 10b-18 repurchase plan.
+Added: The amount and timing of share repurchases are subject to capital availability, our cash balances and future capital requirements and our determination that share repurchases are in the best interest of our stockholders and are in compliance with all respective laws and our applicable agreements.
+Added: We have paused our share repurchases and for the foreseeable future, we expect that our capital allocation will be prioritized towards opportunities to accelerate programs in our development pipeline and/or pursue potential complementary business development opportunities.
+Added: The table below summarizes the repurchases made under our Repurchase Program during the three months ended December 31, 2021:
+Added: Issuer Purchases of Equity Securities
+Added: Part of Publicly
+Added: Announced Plans
+Added: or Programs (1)
+Added: Dollar Value of
+Added: Shares that May
+Added: Yet Be Purchased
+Added: Under the Plans
+Added: (in millions)
+Added: October 1, 2021 through October 31, 2021
416,259 $ 45.76 416,259 $ 397.5
−Removed: Total stockholders’ equity (2)
+Added: November 1, 2021 through November 30, 2021
+Added: December 1, 2021 through December 31, 2021 — $ — — $ —
416,259 $ 45.76 416,259
−Removed: (1) Amounts prior to 2018 do not reflect the impact of the adoption of Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), in the first quarter of 2018 under the modified retrospective method.
−Removed: Summary of Significant Accounting Policies to the consolidated financial statements in this Annual Report on 10-K for additional information.
−Removed: (2) Amounts prior to 2019 do not reflect the impact of the adoption of Accounting Standards Update (ASU) 2016-02, Leases (Topic 842), in the first quarter of 2019 under the optional transition method.
−Removed: Summary of Significant Accounting Policies to the consolidated financial statements in this Annual Report on 10-K for additional information.
−Removed: (3) Expense is net of $7,811 and $19,714 of cost reimbursement from related party for the years ended December 31, 2017 and 2016, respectively.
+Added: (1) All shares repurchased by us during the three months ended December 31, 2021, were repurchased pursuant to the Repurchase Program, as described above.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.