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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities      
Net loss $ (292,876) $ (350,544) $ (285,620)
Adjustments to reconcile net loss to cash used in operating activities:      
Depreciation and amortization 3,000 3,102 2,410
Amortization of operating lease right-of-use assets 3,224    
Accretion of discount on investment securities (1,225) (1,864) (235)
Non-cash interest expense 25,371 18,740 11,603
Stock-based compensation expense, net of capitalized labor 52,075 55,360 43,284
Charge associated with our Gen 1 manufacturing process transition 0 10,311 0
Remeasurement (gain) loss on embedded derivatives liabilities (2,931) (6,357) 4,562
Provision for excess and obsolete inventories 4,152 2,246 0
Loss on impairment and provision for excess and obsolete inventories of Bevyxxa asset group 27,451 0 0
Loss on impairment of SRX intangible asset 3,151 0 0
Others 195 15 52
Changes in operating assets and liabilities:      
Inventories (58,830) (12,612) (1,099)
Trade and other receivables, net (7,698) 607 (3,750)
Unbilled - collaboration and license revenue 6,097 (3,186) 0
Prepaid and other current assets 3,812 (7,496) 235
Prepaid and other long-term assets (3,813) (10,968) (4,395)
Accounts payable (2,652) 1,881 (5,242)
Accrued research and development (582) (25,142) 21,155
Accrued and other liabilities 17,668 3,514 8,576
Deferred revenue (360) (1,288) (15,796)
Notes payable and long term royalty-based debt (13,152) (1,412) 0
Other long-term liabilities 0 (965) (865)
Net cash used in operating activities (237,923) (326,058) (225,125)
Investing activities      
Capital expenditures, net (1,544) (2,559) (1,236)
Purchase of intangible assets 0 0 (5,000)
Purchases of investments (368,747) (259,083) (575,624)
Proceeds from maturities of investments 297,289 435,723 353,088
Net cash (used in) provided by investing activities (73,002) 174,081 (228,772)
Financing activities      
Proceeds from debt issuance, net 121,703 95,000 47,444
Proceeds from issuance of common stock from public offering, net 243,941 0 379,894
Proceeds from issuance of common stock pursuant to equity award plans 24,896 15,389 19,642
Payments of long-term obligation to collaborator (976) 0 0
Other 0 (140) 0
Net cash provided by financing activities 389,564 110,249 446,980
Effect of exchange rate changes on cash, cash equivalents and restricted cash (2) 0 0
Net increase (decrease) in cash, cash equivalents and restricted cash 78,637 (41,728) (6,917)
Cash, cash equivalents and restricted cash at beginning of period 140,013 181,741 188,658
Cash, cash equivalents and restricted cash at end of period $ 218,650 $ 140,013 $ 181,741