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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net loss $ (115,454) $ (72,829)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 30,985 19,354
Amortization of other intangible assets acquired 151 301
Depreciation and amortization 3,781 1,543
Net amortization/accretion on investment securities 20 (2,285)
Non-cash rent expense 1,060 1,548
Benefit from income taxes 0 (209)
Share of losses from equity method investments 215 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 4,116 (521)
Other long-term assets 2,458 (1,993)
Accounts payable (503) 1,332
Accrued and other current liabilities 6,829 (107)
Other long-term liabilities (1,188) (1,282)
Net cash used in operating activities (67,530) (55,148)
Cash flows from investing activities:    
Purchases of property and equipment (28,307) (18,279)
Proceeds from sales of investments 4,877 0
Proceeds from maturities of investments 221,633 197,415
Purchase of investments (642,181) (101,756)
Net cash (used in) provided by investing activities (443,978) 77,380
Cash flows from financing activities:    
Proceeds from issuance of common stock upon exercise of stock options 4,780 236
Proceeds from issuance of common stock under the employee stock purchase plan 1,438 684
Net cash provided by financing activities 616,761 920
Net change in cash, cash equivalents and restricted cash 105,253 23,152
Cash, cash equivalents and restricted cash — beginning of period 179,425 93,731
Cash, cash equivalents and restricted cash — end of period 284,678 116,883
Non-cash investing activities:    
Property and equipment purchases in accounts payable and accrued liabilities 8,298 13,667
Supplemental disclosure:    
Cash paid for amounts included in the measurement of lease liabilities 2,816 1,156
Cash received for amounts related to tenant improvement allowances 1,617 0
ATM offering    
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of commissions and issuance costs 14,845 0
Public offering    
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of commissions and issuance costs $ 595,698 $ 0