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Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net income (loss) $ (8,074) $ 80,045
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,373 996
Accretion of discount on marketable securities (573) (601)
Stock-based compensation 6,512 5,856
Abandonment of capitalized intangible assets 28 58
Equity received in connection with license agreement (4,589)  
Change in fair value of equity security 2,336  
Changes in operating assets and liabilities:    
Accounts receivable 14,749 (127,489)
Interest receivable 215 31
Prepaid expenses and other assets 71 942
Accounts payable 124 1,689
Accrued expenses (1,703) (3,957)
Income taxes   900
Lease liabilities and ROU assets (54) (259)
Deferred revenue (955) 23,061
Net cash provided by (used in) operating activities 9,460 (18,728)
Cash flows from investing activities    
Purchase of marketable securities (142,477) (49,856)
Purchase of intangible assets (538) (1,051)
Purchase of property and equipment (2,073) (415)
Proceeds maturities of marketable securities 157,653 64,995
Net cash provided by investing activities 12,565 13,673
Cash flows from financing activities    
Proceeds from issuance of common stock upon exercise of stock awards 1,471 667
Net cash provided by financing activities 1,471 667
Net increase in cash and cash equivalents 23,496 (4,388)
Cash and cash equivalents, beginning of period 50,312 26,246
Cash and cash equivalents, end of period 73,808 21,858
Cash paid for:    
Interest 6 4
Supplemental disclosures of non-cash investing activities    
Net unrealized gain (loss) on marketable securities, net of tax $ (105) $ 1,316