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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities      
Net loss $ (89,490) $ (60,058) $ (51,802)
Adjustments to reconcile net loss to net cash used in operating activities      
Depreciation 1,194 808 435
Stock-based compensation 13,367 10,571 9,956
Non-cash interest expense 4,645 0 0
Change in fair value of embedded derivative liability (294) 0 0
Net accretion of discounts and amortization of premiums of available-for-sale securities 456 (301) 875
Changes in assets and liabilities      
Accrued interest of available-for-sale securities (161) (2) 110
Inventory (1,646) 0 0
Prepaid expenses and other assets (2,036) 2,643 (4,416)
Accounts receivable, net 427 490 (760)
Accounts payable 333 502 (788)
Accrued liabilities and other liabilities 6,378 (2,721) (820)
Net cash used in operating activities (66,827) (48,068) (47,210)
Cash flows from investing activities      
Purchases of property and equipment (1,258) (1,624) (1,399)
Purchases of available-for-sale securities (62,510) (103,528) (59,828)
Maturities of available-for-sale securities 89,333 78,443 69,285
Net cash provided by (used in) investing activities 25,565 (26,709) 8,058
Cash flows from financing activities      
Proceeds from issuance of long-term debt 99,600 0 0
Proceeds from public offerings, net of offering costs 0 61,822 9,657
Payment of debt issuance costs (633) 0 0
Proceeds from issuance of common stock upon exercise of stock options 9,110 2,966 746
Proceeds from employee stock purchase plan 766 620 407
Net cash provided by financing activities 108,843 65,408 10,810
Net increase (decrease) in cash and cash equivalents 67,581 (9,369) (28,342)
Cash and cash equivalents at beginning of period 23,735 33,104 61,446
Cash and cash equivalents at end of period 91,316 23,735 33,104
Supplemental disclosure      
Cash paid for income taxes 0 0 4,691
Supplemental disclosure of noncash investing and financing activities      
Purchases of property and equipment in accounts payable and accrued expense 61 148 161
Stock-based compensation capitalized in inventory 39 0 0
Stock option exercise settled after period end $ 0 $ 76 $ 0