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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities:    
Net loss $ (40,912) $ (14,709)
Non-cash adjustments reconciling net loss to operating cash flows:    
Depreciation of property and equipment 44 41
Accretion of discount on investments (917) (162)
Share-based compensation expense 11,131 3,660
Changes in operating assets and liabilities:    
Other current assets (1,528) 502
Other long-term assets 1,229 25
Accounts payable, accrued liabilities, deferred revenue and other liabilities (1,071) 2,745
Cash flows used in operating activities (34,482) (7,948)
Investing activities:    
Purchases of short-term investments 127,458 102,820
Sales and maturities of short-term investments 92,250 17,742
Cash flows used in investing activities (35,208) (85,078)
Financing activities:    
Proceeds from issuance of common stock, net of issuance costs 107,883 0
Proceeds from exercise of common stock options 2,668 5,890
Proceeds from disgorgement of stockholders' short-swing profits 1,050 0
Cash flows provided by financing activities 111,601 5,890
Increase (decrease) in cash and cash equivalents 41,911 (87,136)
Cash and cash equivalents, beginning of period 32,694 107,703
Cash and cash equivalents, end of period $ 74,605 $ 20,567