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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating activities    
Net loss $ (56,274) $ (24,787)
Adjustments to reconcile net loss to net cash used in operating activities:    
Change in fair value of contingent consideration 1,013 215
Depreciation and amortization 2,283 1,710
Stock-based compensation expense 10,143 5,432
Other non-cash items 868 130
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (2,271) (2)
Accounts payable (2,195) (331)
Accrued expenses and other liabilities 211 88
Deferred revenue 9,222 (6,344)
Deferred rent 234 (270)
Net cash used in operating activities (36,766) (24,159)
Investing activities    
Purchase of property and equipment (3,894) (1,156)
Purchases of marketable securities (28,175) (223,020)
Proceeds from maturities of marketable securities 96,515 31,200
Net cash provided by (used in) investing activities 64,446 (192,976)
Financing activities    
Proceeds from issuance of common stock 639 2,464
Net cash provided by financing activities 639 2,464
Increase (decrease) in cash and cash equivalents 28,319 (214,671)
Cash and cash equivalents at beginning of period 164,269 347,845
Cash and cash equivalents at end of period 192,588 133,174
Non-cash investing and financing activities:    
Construction financing lease obligation 12,513  
Purchases of property and equipment included in accounts payable and accrued expenses $ 1,086 $ 1,125