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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities    
Net loss $ (111,178) $ (122,313)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 1,002 926
Amortization of premium on investment securities 250 759
Non-cash interest expense 5,095  
Stock-based compensation expense 22,291 14,691
Remeasurement loss on embedded derivatives liabilities 666  
Loss on assets disposal 26  
Changes in operating assets and liabilities:    
Prepaid research and development 3,812 (5,502)
Prepaid expenses and other current assets (9,650) (2,204)
Prepaid and other long-term assets (1,063) (4,025)
Accounts payable (2,765) (5,443)
Accrued compensation and employee benefits 754 (824)
Accrued research and development (1,768) (3,688)
Accrued and other liabilities 1,342 777
Deferred revenue (8,915) 22,011
Other long-term liabilities (432) (371)
Net cash used in operating activities (100,533) (105,206)
Investing activities    
Purchases of property and equipment (304) (1,803)
Decrease in restricted cash (SRX Cardio) 6 196
Purchase of intangible assets (5,000)  
Purchases of investments (186,407) (155,436)
Proceeds from maturities of investments 170,529 214,378
Net cash (used in) provided by investing activities (21,176) 57,335
Financing activities    
Proceeds from debt issuance, net 48,000  
Payment of public offering cost   (242)
Debt issuance costs paid (557)  
Proceeds from issuance of common stock pursuant to equity award plans 9,623 972
Net cash provided by financing activities 57,066 730
Net decrease in cash and cash equivalents (64,643) (47,141)
Cash and cash equivalents at beginning of period 188,480 186,488
Cash and cash equivalents at end of period $ 123,837 $ 139,347