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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net income (loss) $ (28,597) $ (479,743) $ 287,259
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation 15,487 13,365 12,540
Amortization of right-of-use operating lease assets 1,721 1,731 1,542
Amortization of patents 2,352 2,064 1,912
Amortization of premium (discount) on investments, net 17,776 11,521 (7,485)
Amortization of debt issuance costs 4,958 3,255 2,945
Stock-based compensation expense 120,678 230,117 146,574
Loss on early retirement of debt 8,627 0 66,196
Gain on investments (1,092) (16,540) (192)
Deferred income taxes, including changes in valuation allowance 0 341,729 911
Non-cash losses related to patents 2,707 1,948 2,226
Changes in operating assets and liabilities:      
Contracts receivable 14,308 (13,170) (47,674)
Inventories (2,841) (1,261) (5,411)
Other current and long-term assets (877) (9,975) (44,659)
Long-term income taxes receivable (payable) 1,008 (89) 8,418
Accounts payable (6,000) (2,755) (16,343)
Income taxes (1,288) (31,190) 31,656
Accrued compensation (26,918) 28,371 8,089
Accrued liabilities and other current liabilities (8,381) 32,424 16,406
Deferred contract revenue (82,829) (75,910) (119,283)
Net cash used in operating activities 30,799 35,892 345,627
Investing activities:      
Purchases of short-term investments (1,124,193) (1,570,410) (1,946,726)
Proceeds from sale of short-term investments 1,344,185 1,885,935 1,951,734
Purchases of property, plant and equipment (11,955) (35,120) (30,905)
Acquisition of licenses and other assets, net (5,946) (5,928) (5,377)
Purchases of strategic investments (7,185) 0 (10,000)
Net cash provided by (used in) investing activities 194,906 274,477 (41,274)
Financing activities:      
Proceeds from equity, net 11,565 52,036 119,657
Payments of tax withholdings related to vesting of employee stock awards and exercise of employee stock options (16,725) (13,411) (19,242)
Repurchase of $247.9 million principal amount of 1 percent convertible senior notes (256,963) 0 0
Repayment of remaining principal amount of 1 percent convertible senior notes at maturity (61,967) 0 0
Proceeds from issuance of warrants 89,752 0 56,110
Purchase of note hedges (136,620) 0 (108,684)
Repurchases and retirements of common stock 0 (90,548) (34,392)
Purchase of noncontrolling interest of Akcea Therapeutics, Inc., including cash payments for cancellation of Akcea Therapeutics, Inc. equity awards 0 (544,686) 0
Principal payments on line of credit 0 0 (12,500)
Net cash provided by (used in) financing activities 245,933 (596,609) 100,021
Effects of exchange rates on cash (111) 617 93
Net increase (decrease) in cash and cash equivalents 471,527 (285,623) 404,467
Cash and cash equivalents at beginning of year 397,664 683,287 278,820
Cash and cash equivalents at end of year 869,191 397,664 683,287
Supplemental disclosures of cash flow information:      
Interest paid 4,778 6,247 9,870
Income taxes paid 38 25,855 9,041
Supplemental disclosures of non-cash investing and financing activities:      
Right-of-use assets obtained in exchange for lease liabilities 6,641 2,149 14,178
Amounts accrued for capital and patent expenditures 705 4,059 3,126
0.125 percent convertible senior notes principal issued related to our December 2019 debt exchange/issuance 0 0 439,326
1 percent convertible senior notes principal extinguished related to our December 2019 debt exchange 0 0 375,590
0 Percent Convertible Senior Notes [Member]      
Financing activities:      
Proceeds from the issuance of convertible senior notes 632,500 0 0
Convertible senior notes issuance costs (15,609) 0 0
0.125 Percent Convertible Senior Notes [Member]      
Financing activities:      
Proceeds from the issuance of convertible senior notes 0 0 109,500
Convertible senior notes issuance costs $ 0 $ 0 $ (10,428)