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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flow from operating activities:    
Net loss $ (139,213) $ (363,443)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 21,838 15,016
Depreciation and amortization 3,106 910
Deferred income taxes (17,425) 0
Noncash lease expense 883 0
Net accretion and amortization of investments in marketable securities (519) (4,495)
Realized gain on sale of available-for-sale marketable securities (6) (322)
Change in fair value of warrant liabilities (189) (241)
Acquired in-process research and development expense 4,500 249,437
Change in fair value of contingent consideration 6,100 2,700
Changes in operating assets and liabilities:    
Accounts receivable (1,309) 0
Inventory (1,010) 0
Prepaid expenses and other current assets (3,321) (18,056)
Other assets (1,761) (5,225)
Accounts payable, accrued and other liabilities 541 20,863
Operating lease liability (975) 12,172
Deferred revenue (621) 13,801
Net cash used in operating activities (129,381) (76,883)
Cash flow from investing activities:    
Cash paid for in-process research and development assets (4,500) (175,732)
Purchases of marketable securities (283,208) (308,202)
Proceeds from maturities of marketable securities 232,142 364,345
Proceeds from sales of marketable securities 12,987 172,960
Purchases of property and equipment (657) (9,584)
Net cash (used in) provided by investing activities (43,236) 43,787
Cash flow from financing activities:    
Payment of contingent consideration (15,000) (10,000)
Proceeds from issuance of common stock under equity incentive plans 4,589 8,399
Taxes paid related to net share settlement of equity awards (2,157) (658)
Net proceeds from issuance of convertible senior notes 194,000 0
Proceeds from issuance of common stock, net of issuance costs 226,575 0
Net cash provided by (used in) financing activities 408,007 (2,259)
Net increase (decrease) in cash and cash equivalents 235,390 (35,355)
Cash and cash equivalents, beginning of the period 62,070 68,454
Cash and cash equivalents, end of the period $ 297,460 $ 33,099