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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities:    
Net loss $ (7,739) $ (119,772)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation 3,990 3,715
Amortization of patents 802 775
Amortization of premium on investments, net 3,558 3,793
Amortization of debt issuance costs 797 601
Amortization of convertible senior notes discount 15,163 11,709
Amortization of long-term financing liability for leased facility 3,352 3,345
Stock-based compensation expense 42,170 39,364
Gain on investment in Regulus Therapeutics, Inc. (374) 0
Non-cash losses related to patents, licensing and property, plant and equipment 129 464
Changes in operating assets and liabilities:    
Contracts receivable 57,428 10,610
Inventories 985 (769)
Other current and long-term assets (39,371) (2,576)
Accounts payable (10,030) (12,436)
Accrued compensation (13,888) (8,624)
Accrued liabilities and deferred rent (1,149) (9,032)
Deferred contract revenue 69,205 (30,719)
Net cash (used in) provided by operating activities 125,028 (109,552)
Investing activities:    
Purchases of short-term investments (347,916) (81,814)
Proceeds from the sale of short-term investments 202,475 180,158
Purchases of property, plant and equipment (9,453) (3,263)
Acquisition of licenses and other assets, net (1,593) (2,195)
Proceeds from the sale of Regulus Therapeutics stock 2,507 0
Net cash (used in) provided by investing activities (153,980) 92,886
Financing activities:    
Proceeds from equity awards 9,927 4,120
Proceeds from sale of stock to Novartis 71,640 0
Offering costs paid (1,031) 0
Principal payments on debt and capital lease obligations (3,278) (3,717)
Net cash provided by financing activities 77,258 403
Net increase (decrease) in cash and cash equivalents 48,306 (16,263)
Cash and cash equivalents at beginning of period 84,685 128,797
Cash and cash equivalents at end of period 132,991 112,534
Supplemental disclosures of cash flow information:    
Interest paid 3,607 3,414
Supplemental disclosures of non-cash investing and financing activities:    
Amounts accrued for capital and patent expenditures 1,705 1,662
Unpaid deferred offering costs $ 473 $ 379