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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net loss $ (379,541) $ (186,172)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash share-based compensation expense 34,855 12,438
Non-cash interest expense on mandatorily redeemable preferred shares 8,333 0
Non-cash interest expense on liability related to sale of future royalties 19,272 6,134
Non-cash expense related to license agreement 5,646 4,080
Change in fair value of derivative liability 2,980 0
Change in fair value of warrant liability 0 1,182
Loss from equity method investment 4,308 2,066
Other non-cash items 437 91
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,494 (9,598)
Other assets (340) (32)
Accounts payable 810 (63)
Accrued expenses 26,862 5,521
Other long-term liabilities (2,000) 628
Net cash used in operating activities (276,884) (163,725)
Cash flows from investing activities:    
Purchases of property and equipment (1,637) (2,634)
Purchase of equity method investment 0 (1,375)
Net cash used in investing activities (1,637) (4,009)
Cash flows from financing activities:    
Proceeds from issuance of common shares 303,221 55,000
Proceeds from sale of future royalties 0 106,047
Proceeds from issuance of common stock related to sale of future royalties 0 43,953
Proceeds from issuance of mandatorily redeemable preferred shares 125,000 0
Proceeds from exercise of warrants 1,998 0
Payments of issuance costs (1,150) (2,987)
Proceeds from exercise of stock options 2,777 2,438
Net cash provided by financing activities 431,846 204,451
Net increase in cash and restricted cash 153,325 36,717
Cash and restricted cash at beginning of period 264,249 131,468
Cash and restricted cash at end of period 417,574 168,185
Supplemental disclosure of cash flow information:    
Cash paid for interest 0 0
Cash paid for income taxes 835 273
Supplemental disclosure of non-cash investing and financing activities:    
Offering costs included in accounts payable and accrued expenses $ 0 $ 377