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Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities      
Net loss $ (143,551) $ (97,165) $ (201,810)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation expense 547 319 265
Accretion of premiums and discounts on investments (97) (200) (217)
Amortization of discount and issuance costs on convertible notes 1,741 0 0
Acquired in-process research and development (Note 3) 12,500 0 0
Non-cash interest expense related to the revenue interest liability 19,560 8,120 0
Stock-based compensation expense 28,385 25,884 23,968
Changes in assets and liabilities:      
Prepaids and other assets (14,793) (3,396) (2,884)
Deferred revenue (490) 2,152 0
Inventories (16,136) 0 0
Other long-term liabilities 1,290 0 0
Accounts payable 23,106 (16,055) 24,446
Other accrued liabilities 2,761 10,000 7,594
Net cash used in operating activities (85,177) (70,341) (148,638)
Investing activities      
Purchases of investments (4,420) (34,326) (25,481)
Purchases of in-process research and development (12,500) 0 0
Proceeds from sales/maturities of investments 39,145 99,510 166,081
Purchase of property and equipment (869) (953) (151)
Net cash provided by investing activities 21,356 64,231 140,449
Financing activities      
Proceeds from issuance of convertible notes 280,000 0 0
Payment for debt issuance costs (8,405) 0 0
Prepayment of forward stock repurchase transaction (55,000) 0 0
Purchase of capped call options associated with convertible notes (46,004) 0 0
Proceeds from revenue interest liability, net of issuance costs 25,000 124,424 0
Payments on revenue interest liability (500) 0 0
Proceeds from exercise of common stock options 6,634 11,771 11,743
Payments on long-term debt 0 0 (1,049)
Net cash provided by financing activities 201,725 136,195 10,694
Net increase in cash, cash equivalents and restricted cash 137,904 130,085 2,505
Cash and cash equivalents at beginning of period 167,058 36,973 34,468
Cash, cash equivalents and restricted cash at end of period 304,962 167,058 36,973
Supplemental disclosure of cash flow information:      
Purchase of property and equipment not yet paid 0 190 199
Non cash right of use asset 20 31 0
Offering costs not yet paid $ 495 $ 0 $ 0