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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 $ (137,481) $ (71,894) $ (46,315)
Adjustments to reconcile net loss to cash used in operating activities:      
Depreciation 2,008 1,151 238
Stock-based compensation expense 11,542 6,770 4,583
Other non-cash charges   37 40
Amortization of premium (discount) on marketable 333 729 871
Loss on disposal of fixed assets   2,283 150
Amortization of convertible debt discount and debt issuance costs 4,826    
Premium paid on securities purchased (857) (543)  
Changes in operating assets and liabilities:      
Accounts receivable (410) 95  
Inventory (1,799)    
Prepaid expenses, other current and long-term assets 387 (2,873) (526)
Accounts payable 4,188 (993) 1,581
Accrued expenses and other current and long-term liabilities 9,432 2,766 429
Net cash used in operating activities (107,831) (62,472) (38,949)
Cash flows from investing activities      
Purchases of property and equipment (2,146) (8,440) (5,197)
Change in restricted cash (120) (400) 48
Purchases of marketable securities (356,754) (196,061) (145,798)
Sale and redemption of marketable securities 240,228 72,147 137,702
Net cash used in investing activities (118,792) (132,754) (13,245)
Cash flows from financing activities      
Proceeds from the issuance of 2024 convertible notes 201,250    
Payment of debt issuance costs (6,470) (42) (108)
Proceeds from the offering of common stock 132,666 147,889  
Payments on notes payable (8,333)   (3,500)
Proceeds from issuance of notes payable   15,000 15,004
Payments of public offering costs (490) (293) (225)
Proceeds from the exercise of stock options 3,858 167 593
Proceeds from Employee Stock Purchase Plan 1,016 476 276
Net cash provided by financing activities 323,497 163,197 12,040
Net increase (decrease) in cash and cash equivalents 96,874 (32,029) (40,154)
Cash and cash equivalents at beginning of period 30,915 62,944 103,098
Cash and cash equivalents at end of period 127,789 30,915 62,944
Supplemental disclosures of cash flow information:      
Cash paid for interest 5,080 1,297 572
Supplemental disclosures of non-cash financing activities:      
Public offering costs included in accounts payable or accrued   95  
Portion of debt proceeds allocated to equity component 62,466    
Purchases of property and equipment in accounts payable and accrued expenses $ 9 $ 622 $ 1,576