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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating activities:    
Net loss $ (87,747) $ (1,616)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 7,650 6,138
Amortization of patents 1,356 1,216
Amortization of premium on investments, net 791 5,227
Amortization of debt issuance costs 1,343 1,202
Amortization of convertible senior notes discount 24,781 22,963
Amortization of long-term financing liability for leased facility 0 3,659
Stock-based compensation expense 97,210 63,642
Gain on investment in Regulus Therapeutics, Inc. 0 (374)
Loss on extinguishment of financing liability for leased facility 0 7,689
Non-cash losses related to patents, licensing and property, plant and equipment 482 (403)
Changes in operating assets and liabilities:    
Contracts receivable 48,223 65,119
Inventories 1,604 (962)
Other current and long-term assets (26,573) (34,866)
Accounts payable (13,606) (1,707)
Accrued compensation (892) (8,999)
Accrued liabilities and deferred rent (14,392) (5,251)
Deferred contract revenue 447,168 31,071
Net cash provided by operating activities 487,398 153,748
Investing activities:    
Purchases of short-term investments (1,156,335) (589,655)
Proceeds from the sale of short-term investments 568,517 313,860
Purchases of property, plant and equipment (12,221) (26,502)
Acquisition of licenses and other assets, net (3,317) (4,289)
Proceeds from the sale of Regulus Therapeutics stock 0 2,507
Net cash used in investing activities (603,356) (304,079)
Financing activities:    
Proceeds from equity awards 18,254 17,672
Proceeds from the issuance of common stock from Akcea Therapeutics, Inc.'s initial public offering, net of underwriters' discount 0 110,438
Proceeds from building mortgage debt, net of issuance costs 0 59,750
Offering costs paid 0 (1,057)
Proceeds from the sale of Akcea Therapeutics, Inc. common stock to Novartis in a private placement 0 50,000
Payment to settle financing liability for leased facility 0 (80,133)
Principal payments on debt and capital lease obligations 0 (3,577)
Net cash provided by financing activities 466,219 224,830
Net increase in cash and cash equivalents 350,261 74,499
Cash and cash equivalents at beginning of period 129,630 84,685
Cash and cash equivalents at end of period 479,891 159,184
Supplemental disclosures of cash flow information:    
Interest paid 5,434 4,020
Supplemental disclosures of non-cash investing and financing activities:    
Amounts accrued for capital and patent expenditures 2,296 3,475
Purchases of property, plant and equipment included in long-term obligations 3,596 0
Unpaid deferred offering costs 0 638
Novartis [Member]    
Financing activities:    
Proceeds from issuance of common stock 0 71,737
Biogen [Member]    
Financing activities:    
Proceeds from issuance of common stock $ 447,965 $ 0