XML 33 R5.htm IDEA: XBRL DOCUMENT v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 30,065 $ 18,274
Adjustments to reconcile net income to net cash generated from operations:    
Stock-based compensation 7,918 6,696
Deferred income taxes 5,095 926
Accretion of interest income (177) (634)
Depreciation and amortization of property and equipment 238 96
Non-cash amortization of right-of-use asset 364 413
Changes in operating assets and liabilities:    
Trade receivables (6,756) (1,630)
Inventory 1,328 910
Prepaid expenses and other current assets 351 1,999
Other assets 7 (25)
Accounts payable (2,600) 953
Accrued clinical expenses 1,461 1,016
Accrued and other liabilities (3,676) (4,956)
Operating lease liabilities (349) (357)
Net cash provided by operating activities 33,269 23,681
Cash flows from investing activities:    
Purchases of property and equipment (42) (257)
Proceeds from maturities of marketable securities 68,245 70,825
Purchases of marketable securities (48,469) (70,935)
Net cash provided by (used in) investing activities 19,734 (367)
Cash flows from financing activities:    
Proceeds from issuance of common stock upon exercise of options, net of issuance costs 480 2,435
Repurchase of common stock (275) (13,555)
Cash paid to satisfy statutory withholding requirement for net settlement of cashless option exercise 0 (4,169)
Net cash provided by (used in) financing activities 205 (15,289)
Net increase in cash and cash equivalents 53,208 8,025
Cash and cash equivalents, at beginning of period 31,269 41,625
Cash and cash equivalents, at end of period 84,477 49,650
Supplemental disclosure:    
Exercise price of shares tendered in net settlement of cashless option exercise 0 931
Recognition of right-of-use asset and lease liability $ 0 $ 1,878