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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Activities:      
Net loss $ (132,694) $ (184,748) $ (183,769)
Reconciliation of net loss to net cash used in operating activities:      
Depreciation and amortization 5,676 8,159 9,817
Loss (Gain) on disposal of property and equipment 88 (55) 269
Gain on Catalent transaction (9,016)    
Non-cash impact of lease termination   (4,381)  
Amortization of debt issuance costs 1,424 1,424 1,424
Lease incentives received     1,933
Non-cash stock-based compensation 17,048 18,314 19,809
Other 4,869 (2,396) 2,715
Changes in operating assets and liabilities:      
Prepaid expenses and other assets (4,202) 1,212 2,590
Accounts payable and accrued expenses (11,485) (6,744) 5,192
Deferred revenue (8,331) (15,610) (4,456)
Net cash used in operating activities (136,623) (184,825) (144,476)
Investing Activities:      
Capital expenditures (1,857) (1,372) (4,189)
Proceeds from Catalent transaction 18,333    
Purchases of marketable securities (17,484) (120,150) (218,045)
Proceeds from maturities of marketable securities 39,500 150,118 258,202
Net cash provided by investing activities 38,492 28,596 35,968
Financing Activities:      
Principal payments of capital leases     (37)
Net proceeds from sales of common stock 97,392 100,060 63,425
Proceeds from the exercise of stock options and employee stock purchases 992 2,745 1,152
Net cash provided by financing activities 98,384 102,805 64,540
Effect of exchange rate on cash, cash equivalents and restricted cash (32) (48) 142
Net increase (decrease) in cash, cash equivalents and restricted cash 221 (53,472) (43,826)
Cash, cash equivalents and restricted cash at beginning of year 81,959 135,431  
Cash, cash equivalents and restricted cash at end of year 82,180 81,959 135,431
Supplemental disclosure of non-cash activities:      
Sale of common stock under the Sales Agreement not settled at year-end 497    
Capital expenditures included in accounts payable and accrued expenses 49 519 15
Supplemental disclosure of cash flow information:      
Cash interest payments $ 12,188 $ 12,188 $ 12,188