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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 USED IN OPERATING ACTIVITIES:      
Net loss $ (132,993) $ (221,337) $ (254,237)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 2,308 2,867 1,951
Amortization of premium (accretion of discount) on marketable securities, net (394) (390) (264)
Impairment loss on operating lease right of use assets 339    
Stock-based compensation expense 23,615 28,701 35,003
Amortization of debt discount and issuance costs 15,785 13,800 4,816
Loss on disposals of property and equipment 201 0 0
Changes in operating assets and liabilities:      
Inventory 887 (1,844) (4,366)
Accounts receivables, net (6,531) (12,317) (4,441)
Prepaid expenses 1,711 (8,667) (3,689)
Other current assets 356 989 (1,362)
Operating lease right of use assets 2,034    
Other long-term assets 30 255 (248)
Accounts payable 1,804 311 (2,213)
Accrued expenses and other current liabilities 10,827 (7,000) 22,563
Lease liability, operating leases (2,298)    
Other non-current liabilities (95) (94) (190)
Net cash used in operating activities (82,414) (204,726) (206,677)
CASH FLOWS (USED IN) PROVIDED BY INVESTING ACTIVITIES:      
Purchases of property and equipment 0 (185) (2,341)
Payment of milestone related to intangible asset 0 0 (8,712)
Purchases of marketable securities (119,502) (499) (429,296)
Sales and maturities of marketable securities 206,779 135,000 191,363
Net cash (used in) provided by investing activities 87,277 134,316 (248,986)
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES:      
Proceeds from exercise of stock options and warrants 3,869 9,106 17,478
Proceeds from issuance of convertible notes 0 0 305,000
Deferred financing costs 0 0 (9,360)
Proceeds from employee stock purchase plan 1,840 2,566 2,550
Net cash provided by financing activities 5,709 11,672 315,668
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 10,572 (58,738) (139,995)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF YEAR 59,881 118,619 258,614
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF YEAR 70,453 59,881 118,619
SUPPLEMENTAL DISCLOSURES:      
Cash paid for interest 9,150 9,582 0
Property and equipment purchases in accrued expense 0 $ 309 $ 352
Right of use assets obtained in exchange for operating lease liability $ 9,077