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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities      
Net loss $ (278,017) $ (236,455) $ (215,524)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 6,798 6,441 4,481
Amortization and accretion income, net (1,079) (3,451) (1,315)
Share-based compensation 62,976 60,450 51,313
Net gain from the sale of VIBATIV business     (6,056)
Amortization of right-of-use assets 3,344 3,224  
Undistributed earnings from TRC, LLC (37,975) (23,152) (5,152)
Interest shortfall on 2035 notes, net 17,643    
Loss on extinguishment of debt 15,464    
Other (95) 146 (43)
Changes in operating assets and liabilities:      
Accounts receivable   620 1,633
Receivables from collaborative and licensing arrangements 6,128 (11,943) (2,944)
Prepaid clinical and development services (17,638) (561) (2,175)
Other prepaid and current assets (2,327) (73) (225)
Inventory     (1,629)
Tax receivable (258) (3,700) 8,191
Other assets (852) (358) 45
Accounts payable 3,658 (4,274) 3,575
Accrued personnel-related expenses, accrued clinical and development expenses, and other accrued liabilities 5,983 10,626 (12,357)
Accrued interest payable (1,685) 2,573 1,841
Deferred rent     4,308
Deferred revenue (26,465) (31,245) 69,224
Operating lease liabilities 1,600 (2,317)  
Other long-term liabilities (7,606) (4,748) (10,058)
Net cash used in operating activities (250,403) (238,197) (112,867)
Investing activities      
Purchases of property and equipment (6,616) (3,176) (7,240)
Purchases of marketable securities (401,987) (423,898) (183,261)
Maturities of marketable securities 399,318 339,018 347,192
Proceeds from the sale of marketable securities 19,942    
Proceeds from the sale of property and equipment 64 5 17
Proceeds from the sale of VIBATIV business, net   5,000 20,000
Net cash provided by (used in) investing activities 10,721 (83,051) 176,708
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 (5,326)    
Proceeds from issuance of 2033 notes, net     229,441
Payment of redemption premium on 2033 notes (11,470)    
Principal payment on 2033 notes (235,347) (2,152)  
Proceeds from ESPP purchases 3,701 3,474 4,173
Proceeds from option exercises 1,361 3,142 1,393
Repurchase of shares to satisfy tax withholding (9,749) (3,173) (9,807)
Net cash provided by financing activities 263,085 1,291 225,200
Net increase (decrease) in cash, cash equivalents, and restricted cash 23,403 (319,957) 289,041
Cash, cash equivalents, and restricted cash at beginning of period 58,897 378,854 89,813
Cash, cash equivalents, and restricted cash at end of period 82,300 58,897 378,854
Supplemental disclosure of cash flow information      
Cash paid for interest 24,024 26,178 7,475
Cash paid (received) for income taxes, net $ 14 22 $ (7,316)
Right-of-use assets obtained in exchange for lease obligations (1)   $ 49,847