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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Net loss $ (680,238) $ (372,882) $ (270,120)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation expense 153,231 101,963 35,534
Premium on marketable securities (3,674) (215) (105)
Amortization of discount on marketable securities (6,966) (9,892) (293)
Depreciation 2,283 1,143 531
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (4,781) (15,462) (1,127)
Other long-term assets (3,793)    
Right-of-use operating asset 8,168    
Operating lease liabilities, current 2,804    
Operating lease liabilities, non-current (10,761)    
Accounts payable (18,783) 24,544 (3,693)
Accrued expenses and other liabilities 33,804 10,130 19,996
Net cash used in operating activities (528,706) (260,671) (219,277)
Cash flows from investing activities      
Proceeds from sales and maturities of marketable securities 1,171,270 974,757 261,225
Purchases of marketable securities (1,308,675) (1,484,358) (244,403)
Purchases of property and equipment (5,751) (2,860) (1,360)
Net cash provided by (used in) investing activities (143,156) (512,461) 15,462
Cash flows from financing activities      
Proceeds from stock option exercises and employee stock purchase plan issuances 48,850 29,108 15,972
Payment of employee tax obligations related to vesting of restricted stock units (2,175) (904)  
Payments of offering costs (328) (340) (179)
Proceeds from public offerings of common stock, net of commissions and underwriting discounts 561,277 631,494 326,025
Net cash provided by financing activities 607,624 659,358 341,818
Net increase (decrease) in cash, cash equivalents and restricted cash (64,238) (113,774) 138,003
Cash, cash equivalents and restricted cash at beginning of period 193,310 307,084 169,081
Cash, cash equivalents and restricted cash at end of period 129,072 193,310 307,084
Supplemental disclosure of non-cash operating and investing activities      
Purchases of property and equipment included in accounts payable 65 51 138
Right-of-use assets obtained in exchange for new operating lease liabilities $ 872    
Landlord tenant incentive included in other current assets   $ 229  
Purchases of property and equipment financed with landlord tenant incentive     1,665
Public offering costs included in accounts payable     $ 95