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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 94,181,000 $ 75,410,000 $ 129,122,000
Adjustments to reconcile net income to net cash provided by operations:      
Stock-based compensation 29,313,000 23,747,000 13,361,000
Accretion of interest (income) expense (1,738,000) (1,721,000) 456,000
Depreciation and amortization of property and equipment 0 0 14,000
Amortization of debt financing costs 16,877,000 14,067,000 (76,703,000)
Deferred income taxes 0 0 293,000
Excess tax benefits from stock option activity 703,000 236,000 106,000
Amortization of right-of-use asset 1,468,000    
Changes in operating assets and liabilities:      
Trade receivables (2,340,000) (2,288,000) (5,440,000)
Other receivable 0 12,896,000 (12,896,000)
Inventory (1,044,000) (7,779,000) (2,262,000)
Prepaid expenses and other current assets 1,696,000 (5,071,000) (705,000)
Other assets (3,398,000) 0 (26,000)
Accounts payable (735,000) (389,000) 6,289,000
Accrued clinical expenses 2,956,000 1,274,000 780,000
Accrued and other liabilities (517,000) 5,044,000 8,546,000
Long-term accrued income taxes 147,000 239,000 0
Operating lease liability (1,452,000) 0 0
Net cash provided by operating activities 136,117,000 115,665,000 60,935,000
Cash flows from investing activities:      
Purchases of property and equipment (1,088,000) (298,000) (419,000)
Proceeds from maturities of marketable securities 182,295,000 142,655,000 29,950,000
Purchases of marketable securities (299,035,000) (233,124,000) (102,987,000)
Net cash used in investing activities (117,828,000) (90,767,000) (73,456,000)
Cash flows from financing activities:      
Proceeds from exercise of stock options, net of issuance costs 8,419,000 9,322,000 7,181,000
Repurchase of common stock (30,975,000) (23,657,000) 0
Payments related to debt obligation 0 0 (15,134,000)
Cash paid to satisfy statutory withholding requirement for the net settlement of cashless option exercise (6,089,000)    
Net cash used in financing activities (28,645,000) (14,335,000) (7,953,000)
Net increase (decrease) in cash and cash equivalents (10,356,000) 10,563,000 (20,474,000)
Cash and cash equivalents, at beginning of period 41,625,000 31,062,000 51,536,000
Cash and cash equivalents, at end of period 31,269,000 41,625,000 31,062,000
Supplemental disclosure:      
Income taxes paid 6,744,000 1,351,000 377,000
Cost of shares repurchased for net settlement of cashless option exercise 1,983,000 $ 0 $ 0
Recognition of right-of-use asset and lease liability $ 4,913,000