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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income (loss) $ 46,162 $ (8,649)
Adjustments to reconcile net income ( loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 34,375 380
Amortization of premium/discount on purchased securities 658 1,256
Write-down of inventory to net realizable value 280 868
Non-cash equity-based compensation expense 6,684 4,207
Amortization of debt discount and debt issuance costs 5,501 2,652
Other income (2) (116)
Change in fair value of contingent consideration 1,639 1,178
Deferred income taxes 23,643  
Changes in operating assets and liabilities:    
Accounts receivable, net (17,849) (3,739)
Inventories (1,027) (2,567)
Receivable from collaboration (1,097) 48
Prepaid and other current assets 3,331 (1,425)
Other long-term assets 4,549 1,137
Accounts payable and accrued expenses 10,231 (515)
Deferred revenues (44,376) (5,178)
Other long-term liabilities (700) 227
Repayment of Term Loan attributable to original issue discount (314)  
Total adjustments 25,526 (1,587)
Net cash provided by (used in) operating activities 71,688 (10,236)
Cash flows from investing activities:    
Acquisition of Lumara Health, net of acquired cash 562  
Proceeds from sales or maturities of investments 6,464 48,706
Purchase of investments (291,085) (47,329)
Proceeds from sale of assets   102
Capital expenditures (677) (135)
Change in restricted cash   2,883
Net cash (used in) provided by investing activities (284,736) 4,227
Cash flows from financing activities:    
Proceeds from the issuance of common stock, net of underwriting discounts and other expenses 188,864  
Long-term debt principal payment (16,686)  
Proceeds from issuance of convertible 2.5% senior notes   200,000
Payment of debt issuance costs   (6,711)
Proceeds from issuance of warrants   25,620
Purchase of convertible bond hedges   (39,760)
Payment of contingent consideration (190) (90)
Proceeds from the exercise of stock options 11,648 2,021
Net cash provided by financing activities 183,636 181,080
Net (decrease) increase in cash and cash equivalents (29,412) 175,071
Cash and cash equivalents at beginning of the period 119,296 26,986
Cash and cash equivalents at end of the period 89,884 $ 202,057
Supplemental data of cash flow information:    
Interest paid on long-term debt 12,405  
Interest paid on convertible 2.5% senior notes $ 2,500