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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (202,611) $ (164,446)
Adjustments to reconcile net loss to net cash used in operating activities:    
Change in fair value of contingent consideration (3,108) 296
Depreciation and amortization 4,880 3,783
Stock-based compensation expense 36,293 32,341
Unrealized loss on equity securities 4,520 3,085
Other non-cash items (1,387) (3,456)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (10,984) (12,793)
Operating lease right-of-use assets 5,842 5,374
Accounts payable (9,519) 10,590
Accrued expenses and other liabilities (20,557) (21,514)
Operating lease liabilities (5,070) 3,224
Deferred revenue (2,118) (8,672)
Collaboration research advancement (2,302) (1,966)
Net cash used in operating activities (206,121) (154,154)
Cash flows from investing activities:    
Purchase of property, plant and equipment (10,676) (19,321)
Purchases of marketable securities (101,421) (381,735)
Proceeds from maturities of marketable securities 336,675 364,143
Net cash provided by (used in) investing activities 224,578 (36,913)
Cash flows from financing activities:    
Proceeds from exercise of stock options and ESPP contributions 963 10,223
Net cash provided by financing activities 963 10,223
Increase (decrease) in cash, cash equivalents and restricted cash 19,420 (180,844)
Cash, cash equivalents and restricted cash at beginning of period 381,709 417,099
Cash, cash equivalents and restricted cash at end of period 401,129 236,255
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 346,629 221,738
Restricted cash included in receivables and other current assets 0 100
Restricted cash included in restricted cash and other non-current assets 54,500 14,417
Cash, cash equivalents and restricted cash at end of period 401,129 236,255
Supplemental cash flow disclosures from investing and financing activities:    
Purchases of property, plant and equipment included in accounts payable and accrued expenses 1,125 9,302
Right-of-use assets obtained in exchange for operating lease liabilities 14,425 5,500
Tenant improvements included in receivables and other current assets $ 1,516 $ 8,009