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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:    
Net loss $ (169,514) $ (86,607)
Non-cash adjustments reconciling net loss to operating cash flows:    
Depreciation of property and equipment 253 99
Accretion of discount on investments (863) (1,964)
Share-based compensation expense 42,354 23,720
Changes in operating assets and liabilities:    
Other current assets 1,029 (6,313)
Other long-term assets (409) (3,982)
Accounts payable, accrued liabilities, deferred revenue and other liabilities 8,803 2,097
Cash flows used in operating activities (118,347) (72,950)
Investing activities:    
Purchases of short-term investments (384,127) (212,666)
Sales and maturities of short-term investments 240,878 171,600
Purchases of property, plant, and equipment (1,425) (69)
Cash flows used in investing activities (144,674) (41,135)
Financing activities:    
Proceeds from issuance of common stock, net of issuance costs 323,977 327,810
Proceeds from issuance of common stock under equity incentive plans 23,932 4,300
Proceeds from disgorgement of shareholders' short-swing profits 41 1,050
Proceeds from stock issuances under employee stock purchase plan 524 323
Cash flows provided by financing activities 348,474 333,483
Increase in cash, cash equivalents and restricted cash 85,453 219,398
Cash, cash equivalents and restricted cash, beginning of period 46,856 32,694
Cash, cash equivalents and restricted cash, end of period 132,309 252,092
Reconciliation of cash, cash equivalents and restricted cash, end of period:    
Total cash, cash equivalents and restricted cash 132,309 252,092
Supplemental disclosures of non-cash investing activities:    
Purchases of property, plant, and equipment included within accounts payable and accrued liabilities $ 239 $ 0