XML 21 R8.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net loss $ (153,524) $ (81,177) $ (53,916)
Adjustments to reconcile net loss to net cash used in operating activities:      
Non-cash royalty revenue related to sale of future royalties (30,158) (22,058) (21,937)
Non-cash interest expense on liability related to sale of future royalties 19,712 20,619 20,888
Stock-based compensation 25,850 19,669 17,017
Depreciation and amortization 15,351 12,855 12,927
Loss from redemption premium and incremental interest on 12% senior secured notes 0 12,500 0
Write-off of deferred financing costs on 12% senior secured notes 0 1,579 0
Other non-cash transactions (2,185) (2,365) (560)
Changes in assets and liabilities:      
Accounts receivable, net 4,269 (16,340) (1,378)
Inventory 237 1,606 500
Other assets (312) (825) (3,294)
Accounts payable 518 (412) (6,359)
Accrued compensation 12,282 249 (8,505)
Accrued clinical trial expenses (262) 512 (9,197)
Other accrued expenses 191 (2,278) 273
Interest payable 0 (2,719) 0
Liability related to refundable upfront payment 12,500 0 0
Deferred revenue (17,615) (17,530) (4,664)
Liability related to receipt of refundable milestone payment 0 0 (70,000)
Other liabilities (3,878) 3,032 (13,801)
Net cash used in operating activities (117,024) (73,083) (142,006)
Cash flows from investing activities:      
Purchases of investments (334,659) (297,608) (297,251)
Maturities of investments 253,682 226,923 247,995
Sales of investments 4,969 42,544 21,661
Release of restricted cash 0 25,000 0
Purchases of property, plant and equipment (6,392) (11,195) (9,976)
Net cash used in investing activities (82,400) (14,336) (37,571)
Cash flows from financing activities:      
Payment of capital lease obligations (5,945) (5,187) (3,536)
Issuance of common stock, net of issuance costs 189,276 0 116,536
Proceeds from shares issued under equity compensation plans 20,287 32,208 46,984
Proceeds from issuance of 7.75% senior secured notes, net of issuance costs 0 241,262 0
Repayment of 12% senior secured notes 0 (125,000) 0
Payment of redemption premium and incremental interest on 12% senior secured notes 0 (12,500) 0
Repayment of proceeds from sale of future royalties 0 0 (7,000)
Net cash provided by financing activities 203,618 130,783 152,984
Effect of exchange rates on cash and cash equivalents (124) (159) (109)
Net increase (decrease) in cash and cash equivalents 4,070 43,205 (26,702)
Cash and cash equivalents at beginning of year 55,570 12,365 39,067
Cash and cash equivalents at end of year 59,640 55,570 12,365
Supplemental disclosure of cash flow information:      
Cash paid for interest 20,589 20,225 17,445
Cash paid for income taxes 757 860 964
Supplemental schedule of non-cash investing and financing activities:      
Property and equipment acquired through capital leases and other financing $ 1,568 $ 93 $ 5,231