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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS USED IN OPERATING ACTIVITIES:    
Net loss $ (183,220) $ (130,084)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,385 371
Amortization of premium (discount) on marketable securities, net (100) 797
Amortization of debt discount and debt issuance costs 1,568 0
Stock-based compensation 28,785 18,702
Changes in operating assets and liabilities:    
Inventory (3,074) 0
Accounts receivable, net (11,682) 0
Prepaid expenses and other current assets (5,493) 3,308
Other long-term assets (7) (291)
Accounts payable (2,414) (3,563)
Accrued expenses and other current liabilities 7,327 7,284
Other non-current liabilities (166) 402
Net cash used in operating activities (167,091) (103,074)
CASH FLOWS (USED IN) PROVIDED BY INVESTING ACTIVITIES:    
Purchases of property and equipment (2,950) (2,125)
Payments for capitalized milestones (8,712) 0
Purchases of marketable securities (117,441) (225,497)
Sales and maturities of marketable securities 170,208 367,141
Net cash provided by investing activities 41,105 139,519
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES:    
Proceeds from exercise of stock options 16,167 2,442
Proceeds from issuance of convertible debt 305,000 0
Payment of debt issuance costs (9,360) 0
Proceeds from issuance of shares under employee stock purchase plan 2,550 0
Net cash provided by financing activities 314,357 2,442
NET INCREASE IN CASH AND CASH EQUIVALENTS 188,371 38,887
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 258,567 159,678
CASH AND CASH EQUIVALENTS AT END OF PERIOD 446,938 198,565
SUPPLEMENTAL DISCLOSURES:    
Cash paid for income taxes 26 0
Property and equipment purchases in accrued expenses at period end $ 487 $ 406