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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities    
Net loss $ (214,494) $ (200,698)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 70,323 25,289
Premium on marketable securities (165) (49)
Amortization of discount on marketable securities (6,901) (57)
Depreciation 780 396
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (12,271) 208
Accounts payable (3,370) 221
Accrued expenses and other liabilities 7,205 14,312
Net cash used in operating activities (158,893) (160,378)
Cash flows from investing activities    
Proceeds from sales and maturities of marketable securities 724,132 214,436
Purchases of marketable securities (1,272,959) (93,816)
Purchases of property and equipment (2,052) (556)
Net cash provided by (used in) investing activities (550,879) 120,064
Cash flows from financing activities    
Proceeds from stock option exercises and employee stock purchase plan issuances 27,480 6,998
Payment of employee tax obligations related to vesting of restricted stock units (904)  
Payments of offering costs (340)  
Proceeds from public offerings of common stock, net of commissions and underwriting discounts 631,494  
Net cash provided by financing activities 657,730 6,998
Net decrease in cash, cash equivalents and restricted cash (52,042) (33,316)
Cash, cash equivalents and restricted cash at beginning of period 307,084 169,081
Cash, cash equivalents and restricted cash at end of period 255,042 135,765
Supplemental disclosure of non-cash investing activities    
Purchases of property and equipment financed with landlord tenant incentive   $ 353
Purchases of property and equipment included in accounts payable $ 19