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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities    
Net loss $ (218,415) $ (192,143)
Adjustments to reconcile net loss to net cash used in operating activities:    
Change in fair value of contingent consideration (1,460) 2,099
Depreciation and amortization 9,899 7,132
Stock-based compensation expense 38,953 30,831
Other non-cash items 2,545 2,166
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (12,865) (3,857)
Accounts payable (447) 1,210
Accrued expenses and other liabilities (6,943) 24,099
Deferred revenue 3,084 6,117
Deferred rent 475 1,805
Net cash used in operating activities (185,174) (120,541)
Investing activities    
Purchase of property and equipment (43,408) (15,005)
Purchases of marketable securities (621,004) (145,135)
Proceeds from maturities of marketable securities 320,190 356,684
Proceeds from sales of marketable securities   7,500
Release of restricted cash 628  
Increase in restricted cash   (4,379)
Net cash (used in) provided by investing activities (343,594) 199,665
Financing activities    
Proceeds from public offering of common stock, net of issuance costs 436,805  
Cash paid for contingent purchase price consideration (1,074) (2,025)
Reimbursement of tenant improvements for financing lease obligation 38,021  
Payments on financing lease obligation (315)  
Proceeds from issuance of common stock 14,406 3,786
Net cash provided by financing activities 487,843 1,761
Increase (decrease) in cash and cash equivalents (40,925) 80,885
Cash and cash equivalents at beginning of period 278,887 164,269
Cash and cash equivalents at end of period 237,962 245,154
Non-cash investing and financing activities:    
Assets acquired under financing lease obligation 2,467  
Tenant improvements under financing lease included in tenant improvements receivable 2,013  
Purchases of property and equipment included in accounts payable and accrued expenses 1,740 2,479
Construction financing lease obligation   38,090
Stock option exercise proceeds receivable $ 845 $ 374