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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net loss $ (191,579) $ (206,850)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 26,274 27,769
Depreciation and amortization 4,128 3,632
Amortization of premiums and discounts on available-for-sale securities (174) (884)
Amortization of debt issuance costs 1,423 1,324
Write-off of debt issuance costs related to convertible senior notes transactions 4,344  
Loss on convertible senior notes conversion 7,791  
Loss on extinguishment of debt 3,277  
Legal settlement loss   21,000
Changes in operating assets and liabilities:    
Accounts receivable 2,359 (2,491)
Inventory 4,357 (35,351)
Prepaid and accrued research and development expenses (5,328) 5,041
Other operating assets and liabilities 5,895 (5,587)
Accounts payable (7,804) (1,393)
Other accrued expenses 2,686 (2,698)
Net cash used in operating activities (142,351) (196,488)
Investing activities    
Purchases of property and equipment (75) (1,484)
Purchases of available-for-sale securities (9,962) (205,779)
Sales of available-for-sale securities 144,644 296,845
Acquired in-process research and development - milestone payment (8,000) (15,750)
Net cash provided by investing activities 126,607 73,832
Financing activities    
Proceeds from the sale of common stock, net of issuance costs 246,727  
Payment of convertible senior notes (164,443)  
Proceeds from borrowings under financing agreement 33,322 6,862
Proceeds from the exercise of stock options and employee stock purchases 868 2,482
Payments on finance leases (720) (505)
Payments on other long-term liabilities (103)  
Net cash provided by financing activities 115,651 9,344
Effect of exchange rate changes on cash and cash equivalents (304) 43
Increase (decrease) in cash and cash equivalents 99,603 (113,269)
Cash and cash equivalents at beginning of period 161,833 221,876
Cash and cash equivalents at end of period 261,436 108,607
Supplemental disclosure of cash flow information:    
Cash paid for interest 6,006 5,469
Non-cash investing and financing activities:    
Vesting of restricted stock units $ 6,255 $ 4,283