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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net loss $ (83,053) $ (72,580)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,424 1,316
Amortization and accretion income, net (536) (629)
Share-based compensation 15,276 12,220
Amortization of right-of-use assets 457 986
Amounts due from TRC, LLC 2,295 (6,229)
Loss on extinguishment of debt 15,464  
Other 9 16
Changes in operating assets and liabilities:    
Accounts receivable   507
Receivables from collaborative and licensing arrangements 6,582 2,229
Other prepaid and current assets 1,592 (2,135)
Other assets (99)  
Accounts payable 1,154 (3,440)
Accrued personnel-related expenses, accrued clinical and development expenses, and other accrued liabilities (10,549) (2,703)
Accrued interest payable 664 (4,581)
Deferred revenue (6,632) (5,333)
Operating lease liabilities (293) (910)
Other long-term liabilities 144 73
Net cash used in operating activities (55,101) (81,193)
Investing activities    
Purchases of property and equipment (954) (1,220)
Purchases of marketable securities (64,778) (148,138)
Maturities of marketable securities 119,203 77,198
Proceeds from the sale of marketable securities 14,932  
Net cash provided by (used in) investing activities 68,403 (72,160)
Financing activities    
Proceeds from the sale of ordinary shares, net 139,915  
Proceeds from issuance of 2035 notes, net 380,000  
Payment of issuance costs on 2035 notes (5,065)  
Payment of redemption premium on 2033 notes (11,470)  
Principal payment on 2033 notes (235,347)  
Proceeds from option exercises 203 254
Repurchase of shares to satisfy tax withholding (6,804) (1,687)
Net cash provided by (used in) financing activities 261,432 (1,433)
Net increase (decrease) in cash, cash equivalents, and restricted cash 274,734 (154,786)
Cash, cash equivalents, and restricted cash at beginning of period 58,897  
Cash, cash equivalents, and restricted cash at end of period 333,631 224,068
Supplemental disclosure of cash flow information    
Cash paid for interest 7,891  
Cash paid (received) for income taxes, net $ (9)  
Right-of-use assets obtained in exchange for lease obligations (1)   $ 49,847