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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Net loss $ (149,773) $ (169,659) $ (137,481)
Adjustments to reconcile net loss to cash used in operating activities:      
Depreciation 1,059 1,714 2,008
Amortization of right-of-use assets 1,337 0 0
Stock-based compensation expense 15,901 15,459 11,542
Non-cash interest expense 564 0 0
(Accretion) Amortization of (discount) premium on marketable securities (1,337) (1,320) 333
Loss from debt extinguishment 352    
Amortization of debt discount and debt issuance costs 8,714 7,805 4,826
Premium paid on securities purchased (34) (214) (857)
Changes in operating assets and liabilities:      
Accounts receivable (23,994) (12,711) (410)
Inventory (7,674) (5,244) (1,799)
Prepaid expenses and other current assets 126 (2,097) 387
Accounts payable 1,702 5,141 4,188
Accrued expenses and other current liabilities 5,326 707 9,432
Lease liabilities (1,027) 0 0
Net cash used in operating activities (148,758) (160,419) (107,831)
Cash flows from investing activities      
Purchases of property and equipment (3,894) (852) (2,146)
Purchases of marketable securities (115,466) (222,482) (356,754)
Sale and redemption of marketable securities 234,124 348,918 240,228
Net cash provided by (used in) investing activities 114,764 125,584 (118,672)
Cash flows from financing activities      
Proceeds from the issuance of 2024 convertible notes     201,250
Proceeds from borrowings under term loan 40,000    
Payment of debt issuance costs (161)   (6,470)
Proceeds from the offering of common stock     132,666
Payments on notes payable (14,367) (10,000) (8,333)
Payments of public offering costs     (490)
Proceeds from the exercise of stock options 1,726 1,653 3,858
Proceeds from employee stock purchase plan 1,820 2,022 1,016
Net cash provided by (used in) financing activities 29,018 (6,325) 323,497
Net (decrease) increase in cash, cash equivalents, and restricted cash (4,976) (41,160) 96,994
Cash, cash equivalents, and restricted cash at beginning of period 87,229 128,389 31,395
Cash, cash equivalents, and restricted cash at end of period 82,253 87,229 128,389
Supplemental disclosures of cash flow information      
Cash paid for interest 8,049 7,874 5,080
Non-cash investing and financing activities      
Right-of-use asset obtained in exchange for operating lease obligation 9,560    
Portion of debt proceeds allocated to equity component     62,466
Purchases of property and equipment in accounts payable and accrued expenses $ 2,202 $ 986 $ 9