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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 USED IN OPERATING ACTIVITIES:      
Net loss $ (254,237) $ (182,804) $ (101,526)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 1,951 586 176
Amortization of premium (accretion of discount) marketable securities, net (264) 791 1,714
Stock-based compensation expense 35,003 26,058 14,734
Amortization of debt discount and issuance costs 4,816 0 183
Loss on retirement of note payable 0 0 1,572
Changes in operating assets and liabilities:      
Inventory (4,366) 0 0
Trade receivables, net (4,441) 0 0
Prepaid expenses (3,689) (342) (1,157)
Other current assets (1,362) 4,949 (3,757)
Other long-term assets (256) (291) (108)
Accounts payable (2,213) (100) 3,936
Accrued expenses and other current liabilities 22,563 11,349 (2,870)
Other non-current liabilities (190) 0 0
Net cash used in operating activities (206,685) (139,804) (87,103)
CASH FLOWS (USED IN) PROVIDED BY INVESTING ACTIVITIES:      
Purchases of property and equipment (2,341) (2,936) (1,231)
Payment of milestone related to intangible asset (8,712) 0 0
Purchases of marketable securities (429,296) (260,547) (579,088)
Sales and maturities of marketable securities 191,363 499,603 340,497
Net cash (used in) provided by investing activities (248,986) 236,120 (239,822)
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES:      
Proceeds from exercise of stock options 17,478 2,573 2,337
Proceeds from issuance of convertible notes 305,000 0 0
Proceeds from issuance of common stock, net 0 0 482,250
Deferred financing costs (9,360) 0 0
Payments on note payable 0 0 (25,000)
Fee for early prepayment of note payable 0 0 (1,502)
Proceeds from employee stock purchase plan 2,550 0 0
Net cash provided by financing activities 315,668 2,573 458,085
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (140,003) 98,889 131,160
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 258,567 159,678 28,518
CASH AND CASH EQUIVALENTS AT END OF YEAR 118,564 258,567 159,678
SUPPLEMENTAL DISCLOSURES:      
Cash paid for interest 0 0 1,490
Property and equipment purchases in accrued expense $ 352 $ 675 $ 0