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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities    
Net loss $ (300,923) $ (268,750)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 41,748 37,715
Depreciation and amortization 5,727 2,497
Amortization of premiums and discounts on available-for-sale securities (1,269) 1,079
Amortization of debt issuance costs 2,070 1,536
Legal settlement loss 22,747  
Acquired in-process research and development 9,440  
Gain on extinguishment of debt (18,480)  
Loss on sale of property and equipment 783  
Allowance for obsolete inventories 521  
Lease liabilities (716)  
Changes in operating assets and liabilities:    
Accounts receivable (3,952) (4,978)
Inventory (23,473) (25,540)
Prepaid and accrued research and development expenses 13,293 1,390
Deposit on inventory   (24,173)
Other operating assets (5,263) (7,507)
Accounts payable 2,384 4,765
Other accrued expenses 1,895 (1,304)
Net cash used in operating activities (253,468) (283,270)
Investing activities    
Purchases of property and equipment (2,887) (7,763)
Proceeds from sale of property and equipment 275  
Purchases of available-for-sale securities (335,104) (320,000)
Sales of available-for-sale securities 480,097 105,000
Acquired in-process research and development - milestone payment (15,750) (55,000)
Net cash provided by (used in) investing activities 126,631 (277,763)
Financing activities    
Proceeds from the sale of common stock, net of issuance costs   93,890
Proceeds from the issuance of convertible senior notes, net of issuance costs 254,965 290,887
Proceeds from borrowings under financing agreement, net of issuance costs 19,044  
Proceeds from the exercise of stock options and employee stock purchases 2,526 3,197
Extinguishment of convertible senior notes (169,853)  
Net cash provided by financing activities 106,682 387,974
Effect of exchange rate changes on cash and cash equivalents (240) (286)
Decrease in cash and cash equivalents (20,395) (173,345)
Cash and cash equivalents at beginning of period 221,876 464,198
Cash and cash equivalents at end of period 201,481 290,853
Supplemental disclosure of cash flow information:    
Cash paid for interest 8,640 9,188
Non-cash investing and financing activities:    
Vesting of restricted stock units $ 4,735 $ 10,130