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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net loss $ (256,850) $ (140,880)
Non-cash adjustments reconciling net loss to operating cash flows:    
Non-cash consideration earned from license agreement (11,424) 0
Change in fair value of long-term investment 24 0
Depreciation of property and equipment 435 156
Accretion of discount on investments (877) (2,818)
Share-based compensation expense 64,104 38,826
Changes in operating assets and liabilities:    
Other current assets (6,985) (6,566)
Other long-term assets (843) (3,873)
Accounts payable, accrued liabilities, deferred revenue and other liabilities 17,306 9,331
Cash flows used in operating activities (195,110) (105,824)
Investing activities:    
Purchases of short-term investments (456,608) (458,115)
Sales and maturities of short-term investments 378,952 289,134
Purchases of property, plant, and equipment (2,861) (220)
Cash flows used in investing activities (80,517) (169,201)
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 36,283 5,372
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 360,825 334,555
Increase in cash, cash equivalents and restricted cash 85,198 59,530
Cash, cash equivalents and restricted cash, beginning of period 46,856 32,694
Cash, cash equivalents and restricted cash, end of period 132,054 92,224
Reconciliation of cash, cash equivalents and restricted cash, end of period:    
Total cash, cash equivalents and restricted cash 132,054 92,224
Supplemental disclosures of non-cash investing activities:    
Allowance utilized for tenant improvements 1,662 0
Fair value of long-term investment earned from license agreement $ 11,400 $ 0