XML 21 R8.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net loss $ (447,510) $ (224,076)
Adjustments to reconcile net loss to net cash used in operating activities:    
Change in fair value of contingent consideration 416 (4,763)
Depreciation and amortization 11,353 9,430
Stock-based compensation expense 73,687 84,822
(Gain) loss on equity securities (28,286) 3,343
Excess inventory reserve 15,084 0
Other non-cash items 6,228 (1,841)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 13,923 (9,347)
Inventory (17,404) (4,466)
Operating lease right-of-use assets 15,074 11,085
Accounts payable 7,475 (14,042)
Accrued expenses and other liabilities 20,276 (14,025)
Operating lease liabilities (16,468) (10,131)
Deferred revenue 367 11,412
Collaboration research advancement (3,190) (3,779)
Net cash used in operating activities (348,975) (166,378)
Cash flows from investing activities:    
Purchase of property, plant and equipment (9,204) (15,478)
Purchases of marketable securities (196,145) (101,421)
Proceeds from maturities of marketable securities 557,751 580,875
Proceeds from sales of marketable securities 31,318 29,878
Purchase of intangible assets (2,000) 0
Net cash provided by investing activities 381,720 493,854
Cash flows from financing activities:    
Proceeds from public offering of common stock, net of issuance costs 0 541,536
Proceeds from exercise of stock options and ESPP contributions 4,192 2,549
Net cash provided by financing activities 4,192 544,085
Increase in cash, cash equivalents and restricted cash 36,937 871,561
Cash, cash equivalents and restricted cash at beginning of period 373,728 381,709
Cash, cash equivalents and restricted cash at end of period 410,665 1,253,270
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 353,468 1,198,768
Restricted cash included in receivables and other current assets 2,687 0
Restricted cash included in restricted cash and other non-current assets 54,510 54,502
Total cash, cash equivalents and restricted cash 410,665 1,253,270
Supplemental cash flow disclosures from investing and financing activities:    
Purchases of property, plant and equipment included in accounts payable and accrued expenses 1,508 1,257
Right-of-use assets obtained in exchange for operating lease liabilities 22,049 14,663
Issuance of unrestricted stock awards to settle accrued employee compensation $ 12,013 $ 0