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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (96,725) $ (34,999)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,838 5,320
Amortization of acquired intangible asset 841 1,065
Loss on disposal of property and equipment 135  
Share-based compensation expense 16,419 14,903
Change in fair value of note hedge warrants 36,221 11,510
Change in fair value of convertible note hedges (39,359) (13,012)
Write-down of excess non-cancelable ZURAMPIC finished goods inventory and sample purchase commitments 1,353  
Write-down of lesinurad commercial supply to net realizable value and loss on non-cancellable purchase commitments 96  
(Gain) loss on facility subleases (1,579) 3,480
Accretion of discount/premium on investment securities 111 457
Non-cash interest expense 7,849 7,221
Non-cash change in fair value of contingent consideration 8,547  
Loss on extinguishment of debt 2,009  
Changes in assets and liabilities:    
Accounts receivable and related party accounts receivable 4,497 1,371
Restricted cash 1,190 500
Prepaid expenses and other current assets 703 (1,265)
Inventory 1,081  
Other assets 246 810
Accounts payable, related party accounts payable and accrued expenses (5,345) (2,314)
Accrued research and development costs 517 2,408
Deferred revenue 225 (470)
Deferred rent (2,977) (3,087)
Net cash (used in) provided by operating activities (59,107) (6,102)
Cash flows from investing activities:    
Purchases of available-for-sale securities (90,706) (52,629)
Sales and maturities of available-for-sale securities 251,027 182,363
Purchases of property and equipment (1,746) (1,623)
Payment for acquisition of lesinurad license   (100,000)
Proceeds from sale of property and equipment 79  
Net cash used in by investing activities 158,654 28,111
Cash flows from financing activities:    
Proceeds from issuance of 2026 Notes, net of discount to lender 146,250  
Costs associated with issuance of 2026 Notes (235)  
Proceeds from exercise of stock options and employee stock purchase plan 18,473 6,163
Payments on capital leases (1,593) (828)
Principal payments on PhaRMA notes (134,258) (11,299)
Payments on contingent purchase price consideration (56)  
Net cash provided by (used in) financing activities 28,581 (5,964)
Net increase in cash and cash equivalents 128,128 16,045
Cash and cash equivalents, beginning of period 54,004 261,287
Cash and cash equivalents, end of period $ 182,132 277,332
Non-cash investing activities    
Contingent consideration   $ 87,649