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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net loss $ (248,486) $ (218,651)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash royalty revenue related to sale of future royalties (39,254) (17,579)
Non-cash interest expense on liability related to sale of future royalties 26,385 13,659
Change in fair value of development derivative liability 4,312 0
Non-cash research and development expense 5,795 0
Stock-based compensation 47,612 48,607
Depreciation and amortization 7,090 7,692
Impairment of advance payments to contract manufacturers and equipment for terminated program 0 20,351
Amortization of premiums (discounts), net and other non-cash transactions 4,090 (782)
Changes in operating assets and liabilities:    
Accounts receivable 10,018 (10,443)
Inventory 676 81
Operating leases, net 2,260 4,245
Other assets 11,585 (27,214)
Accounts payable (2,101) 425
Accrued compensation 14,133 12,469
Other accrued expenses (3,496) 8,952
Deferred revenue (605) (3,790)
Net cash used in operating activities (159,986) (161,978)
Cash flows from investing activities:    
Purchases of investments (527,887) (543,631)
Maturities of investments 612,419 860,330
Sales of investments 5,035 41,700
Purchases of property, plant and equipment (6,157) (3,594)
Net cash provided by investing activities 83,410 354,805
Cash flows from financing activities:    
Proceeds from shares issued under equity compensation plans 28,523 19,120
Cash receipts from development derivative liability 1,500 0
Repayment of senior notes 0 (250,000)
Net cash provided by (used in) financing activities 30,023 (230,880)
Effect of foreign exchange rates on cash and cash equivalents (57) (104)
Net decrease in cash and cash equivalents (46,610) (38,157)
Cash and cash equivalents at beginning of period 198,955 96,363
Cash and cash equivalents at end of period 152,345 58,206
Supplemental disclosures of cash flow information:    
Cash paid for interest 0 9,742
Operating lease right-of-use asset recognized in exchange for lease liabilities $ 1,057 $ 2,133