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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (122,523) $ (72,694)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash in-process research and development 11,184 0
Stock-based compensation 13,897 8,579
Amortization of debt discount and issuance costs 4,504 0
Depreciation and amortization 2,152 1,418
Amortization of discount on investments (1,111) (1,481)
Other non-cash operating activities 240 338
Changes in operating assets and liabilities:    
Accounts receivable (49) 27,000
Inventories (778) 0
Prepaid expenses and other current assets (1,179) (2,903)
Operating lease right of use assets 1,165 (2,938)
Other non-current assets 30 853
Accounts payable (1,099) (321)
Accruals and other liabilities 4,052 (914)
Deferred revenue 30,692 (278)
Operating lease liabilities (1,679) 2,637
Net cash used in operating activities (60,502) (40,704)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of investments (159,412) (164,970)
Purchases of property and equipment (1,113) (1,459)
Purchase of intangible assets (118) 0
Proceeds from maturities of investments 132,000 117,000
Proceeds from sale of investments 16,969 0
Net cash used in investing activities (11,674) (49,429)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of convertible senior notes 287,500 0
Proceeds from issuance of common stock in connection with offerings, net of commissions and discount 15,581 108,100
Proceeds from the exercise of stock options, common stock warrants and employee stock purchase plan 1,670 480
Payment of capped call transactions (28,865) 0
Payment of convertible senior notes transaction costs (9,190) 0
Net settlement of restricted stock awards for employee taxes (1,512) (1,148)
Payment of offering costs (337) (521)
Net cash provided by financing activities 264,847 106,911
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 192,671 16,778
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — Beginning of period 171,890 73,986
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — End of period 364,561 90,764
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:    
Issuance of common stock in connection with the Teoxane Agreement 43,400 0
Property and equipment purchases included in accounts payable and accruals $ 159 $ 1,408