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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net loss $ (789,608) $ (555,625) $ (335,643)
Adjustments to reconcile net loss to net cash used in operating    activities:      
Change in fair value of contingent consideration 2,747 2,999 (2,189)
Depreciation and amortization 17,434 17,158 13,538
Stock-based compensation expense 160,629 110,836 53,282
Unrealized loss (gain) on equity securities (9,297) 2,154 0
Other non-cash items (11,000) (5,880) 3,153
Changes in operating assets and liabilities:      
Prepaid expenses and other assets (13,913) (24,288) (20,092)
Operating lease right-of-use assets 22,496    
Accounts payable 23,600 3,614 526
Accrued expenses and other liabilities 46,291 37,832 5,848
Operating lease liabilities (9,944)    
Deferred revenue (16,674) (41,872) 1,024
Collaboration research advancement (5,739) 43,954 0
Net cash used in operating activities (564,384) (413,426) (280,553)
Cash flows from investing activities:      
Purchase of property, plant and equipment (71,028) (55,737) (62,242)
Purchases of marketable securities (756,570) (1,517,982) (686,204)
Proceeds from maturities of marketable securities 1,340,629 894,284 431,816
Purchase of intangible assets (5,224) 0 0
Net cash provided by (used in) investing activities 507,807 (679,435) (316,630)
Cash flows from financing activities:      
Cash paid for contingent purchase price consideration 0 0 (1,074)
Reimbursement of assets under financing lease obligation 0 3,098 38,021
Payments on financing lease obligation   (1,017) (574)
Proceeds from issuance of common stock 0 649,368 1,006,570
Proceeds from exercise of stock options and ESPP contributions 21,187 31,759 33,231
Net cash provided by financing activities 21,187 737,692 1,076,174
(Decrease) increase in cash, cash equivalents and restricted cash (35,390) (355,169) 478,991
Cash, cash equivalents and restricted cash at beginning of year 417,099 772,268 293,277
Cash, cash equivalents and restricted cash at end of year 381,709 417,099 772,268
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 327,214 402,579 758,505
Restricted cash included in receivables and other current assets 0 364 0
Restricted cash included in restricted cash and other non-current assets 54,495 14,156 13,763
Supplemental cash flow disclosures:      
Assets acquired under financing lease obligation 0 0 3,271
Purchases of property, plant and equipment included in accounts    payable and accrued expenses 5,286 7,449 2,566
Right-of-use assets obtained in exchange for operating lease liabilities 23,939    
Cash paid during the period for interest 0 15,494 11,411
Cash paid during the period for income taxes 637 358 91
Regeneron Collaboration Agreement      
Cash flows from financing activities:      
Proceeds from issuance of common stock $ 0 $ 54,484 $ 0