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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities    
Net loss $ (196,200) $ (261,658)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 2,337 2,303
Amortization of right-of-use asset 2,056  
Accretion of discount on investment securities (946) (1,519)
Non-cash interest expense 21,216 12,642
Stock-based compensation expense, net of capitalized labor 41,193 35,587
Remeasurement gain on embedded derivatives liabilities (3,447) (3,668)
Provision for excess and obsolete inventories 4,131 2,246
Loss on impairment of intangibles 3,151 0
Others 67 14
Changes in operating assets and liabilities:    
Inventories 2,312 (15,597)
Trade and other receivables, net (12,387) (694)
Unbilled - collaboration and license revenue 6,092 (3,178)
Prepaid expenses and other current assets 1,656 (3,253)
Inventories, noncurrent portion (23,651) (8,327)
Prepaid and other long-term assets 1,636 5,475
Accounts payable (2,967) 4,749
Accrued research and development (4,202) (28,298)
Accrued and other liabilities 3,114 1,715
Deferred revenue (875) (180)
Notes payable, long term royalty-based debt and long-term obligation to collaborator (8,871) (316)
Other long-term liabilities 0 (720)
Net cash used in operating activities (164,585) (262,677)
Investing activities    
Capital expenditures, net (1,085) (1,577)
Purchases of investments (214,534) (218,330)
Proceeds from maturities of investments 221,231 338,320
Net cash provided by investing activities 5,612 118,413
Financing activities    
Proceeds from debt issuance, net 59,203 95,000
Proceeds from issuance of common stock from public offering, net 244,065 0
Proceeds from issuance of common stock pursuant to equity award plans 23,082 14,635
Other 0 (140)
Net cash provided by financing activities 326,350 109,495
Effect of exchange rate changes on cash, cash equivalents and restricted cash 76 0
Net increase (decrease) in cash, cash equivalents and restricted cash 167,453 (34,769)
Cash, cash equivalents and restricted cash at beginning of period 140,013 181,741
Cash, cash equivalents and restricted cash at end of period $ 307,466 $ 146,972