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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating Activities:    
Net loss $ (100,864) $ (135,414)
Reconciliation of net loss to net cash used in operating activities:    
Depreciation and amortization 4,744 6,177
Loss (Gain) on disposal of property and equipment 88 (55)
Gain on Catalent transaction (9,016) 0
Non-cash impact of lease termination 0 (4,381)
Amortization of debt issuance costs 1,068 1,068
Non-cash stock-based compensation 12,803 13,928
Other 1,269 (1,820)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 1,326 1,692
Accounts payable and accrued expenses (16,882) (10,498)
Deferred revenue (7,416) (10,256)
Net cash used in operating activities (112,880) (139,559)
Investing Activities:    
Capital expenditures (1,641) (855)
Proceeds from Catalent transaction 18,333 0
Proceeds from maturities of marketable securities 39,500 98,305
Purchases of marketable securities (17,484) (117,172)
Net cash provided by (used in) investing activities 38,708 (19,722)
Financing Activities:    
Net proceeds from sales of common stock 67,220 96,486
Proceeds from the exercise of stock options and employee stock purchases 992 2,462
Net cash provided by financing activities 68,212 98,948
Effect of exchange rate on cash, cash equivalents and restricted cash (69) (62)
Net decrease in cash, cash equivalents and restricted cash (6,029) (60,395)
Cash, cash equivalents and restricted cash at beginning of period 81,959 135,431
Cash, cash equivalents and restricted cash at end of period 75,930 75,036
Supplemental disclosure of non-cash activities:    
Sale of common stock under the Sales Agreement not settled at quarter-end 610 0
Property and equipment purchases included in accounts payable and accrued expenses 183 126
Supplemental disclosure of cash flow information:    
Cash payments of interest $ 12,188 $ 12,188