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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Cash flows from operating activities:      
Net loss $ (618,695) $ (789,608) $ (555,625)
Adjustments to reconcile net loss to net cash used in operating    activities:      
Change in fair value of contingent consideration (6,468) 2,747 2,999
Depreciation and amortization 19,356 17,434 17,158
Stock-based compensation expense 156,631 160,629 110,836
Unrealized loss (gain) on equity securities 7,217 9,297 (2,154)
Other non-cash items 458 (11,000) (5,880)
Changes in operating assets and liabilities:      
Prepaid expenses and other assets (10,089) (13,913) (24,288)
Operating lease right-of-use assets 21,281 22,496 0
Accounts payable (20,100) 23,600 3,614
Accrued expenses and other liabilities (4,982) 46,291 37,832
Operating lease liabilities (17,380) (9,944) 0
Deferred revenue 9,817 (16,674) (41,872)
Collaboration research advancement (7,397) (5,739) 43,954
Net cash used in operating activities (470,351) (564,384) (413,426)
Cash flows from investing activities:      
Purchase of property, plant and equipment (28,986) (71,028) (55,737)
Purchases of marketable securities (1,003,525) (756,570) (1,517,982)
Sales of marketable securities 29,878 0 0
Proceeds from maturities of marketable securities 918,288 1,340,629 894,284
Purchase of intangible assets 0 (5,224) 0
Net cash provided by (used in) investing activities (84,345) 507,807 (679,435)
Cash flows from financing activities:      
Reimbursement of assets under financing lease obligation 0 0 3,098
Payments on financing lease obligation 0 0 (1,017)
Proceeds from exercise of stock options and ESPP contributions 5,179 21,187 31,759
Net cash provided by financing activities 546,715 21,187 737,692
Decrease in cash, cash equivalents and restricted cash (7,981) (35,390) (355,169)
Cash, cash equivalents and restricted cash at beginning of year 381,709 417,099 772,268
Cash, cash equivalents and restricted cash at end of year 373,728 381,709 417,099
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 317,705 327,214 402,579
Restricted cash included in receivables and other current assets 1,500 0 364
Restricted cash included in restricted cash and other non-current assets 54,523 54,495 14,156
Supplemental cash flow disclosures:      
Purchases of property, plant and equipment included in accounts    payable and accrued expenses 2,854 5,286 7,449
Right-of-use assets obtained in exchange for operating lease liabilities 19,414 23,939 0
Cash paid during the period for interest 0 0 15,494
Cash paid during the period for income taxes 361 637 358
Public Offering      
Cash flows from financing activities:      
Proceeds from issuance of common stock 541,536 0 649,368
Regeneron Collaborative Arrangement      
Cash flows from financing activities:      
Proceeds from issuance of common stock $ 0 $ 0 $ 54,484