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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities:      
Net loss $ (302,139) $ (245,874) $ (145,618)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation 68,014 48,309 24,884
Amortization of premium on investment securities, net 1,706 4,842 5,637
Depreciation and amortization 5,825 3,424 1,384
Foreign currency remeasurement (gain) loss (7,018) 1,322  
Non-cash license fee from collaboration arrangement   700  
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (3,338) (7,147) (7,131)
Other assets 522 (1,242) 179
Accounts payable 3,459 2,502 (1,982)
Accrued liabilities and other liabilities (4,628) 32,189 16,670
Deferred tax liabilities (16,246)    
Net cash used in operating activities (253,843) (160,975) (105,977)
Investing activities:      
Acquisition, net of cash acquired (142,804)    
Purchase of property and equipment (2,793) (10,188) (4,955)
Purchase of investments (230,487) (442,490) (624,226)
Proceeds from sale of investments 157,934 140,556 89,321
Proceeds from maturities of investments 273,632 403,239 249,050
Decrease (increase) in restricted cash 934 (1,202) (1,541)
Net cash provided by (used in) investing activities 56,416 89,915 (292,351)
Financing activities:      
Proceeds from the issuance of common stock in connection with underwritten public offerings, net     461,136
Proceeds from the issuance of common stock in connection with at-the-market offering, net 131,960 79,486  
Proceeds from the issuance of common stock in connection with collaboration agreement, net   51,356  
Proceeds from the issuance of common stock under equity plan awards, net of tax 9,251 7,834 6,437
Repayment of note payable (4,944)    
Net cash provided by financing activities 136,267 138,676 467,573
Effect of exchange rate changes on cash 528 (65)  
Net increase (decrease) in cash and cash equivalents (60,632) 67,551 69,245
Cash and cash equivalents at beginning of year 161,120 93,569 24,324
Cash and cash equivalents at end of year 100,488 161,120 93,569
Supplemental disclosures of non-cash investing and financing information:      
Fair value of vested stock options assumed in acquisition 8,979    
Costs of property and equipment included in accounts payable and accrued liabilities $ 400 147 $ 769
Tenant improvement allowance   $ 3,467