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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net loss $ (490,874) $ (410,108) $ (290,073)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 13,367 15,130 19,050
Stock-based compensation 92,819 75,528 45,783
Charge for 401(k) company stock match 2,302 1,507 984
Realized loss (gain) on sale of marketable equity securities 1,894 (6,977)  
Other 608    
Changes in operating assets and liabilities:      
Proceeds from landlord tenant improvements   2,145 374
Billed and unbilled collaboration receivables (10,668) (15,036) 31,639
Prepaid expenses and other assets (20,711) (5,276) (6,820)
Accounts payable (4,939) 10,098 1,676
Accrued expenses and other 31,568 10,673 6,343
Deferred revenue 1,848 14,615 1,904
Net cash used in operating activities (382,786) (307,701) (189,140)
Cash flows from investing activities:      
Purchases of property, plant and equipment (104,209) (64,557) (12,950)
Purchases of restricted investments and increase in restricted cash   (150,000) (1,471)
Purchases of marketable securities (903,457) (759,310) (1,033,843)
Sales and maturities of marketable securities 597,305 1,116,458 726,943
Sale of restricted investments 120,000    
Net cash (used in) provided by investing activities (290,361) 142,591 (321,321)
Cash flows from financing activities:      
Proceeds from exercise of stock options and other types of equity 84,142 14,127 31,137
Proceeds from issuance of common stock, net of offering costs 1,139,625   496,400
Proceeds from issuance of common stock to Sanofi Genzyme 21,381 14,301 89,018
Proceeds from issuance of long-term debt   150,000  
Repayment of long-term debt (120,000)    
Payments for repurchase of common stock for employee tax withholding (257) (596) (378)
Net cash provided by financing activities 1,124,891 177,832 616,177
Net increase in cash and cash equivalents 451,744 12,722 105,716
Cash and cash equivalents, beginning of period 193,617 180,895 75,179
Cash and cash equivalents, end of period 645,361 193,617 180,895
Supplemental disclosure of cash flows:      
Cash paid for interest 2,430 1,096  
Cash paid for income taxes 114 111 66
Supplemental disclosure of noncash investing and financing activities:      
Fixed asset expenditures included in accounts payable and accrued expenses 8,176 33,153 1,333
Fair value of common stock received for collaboration agreement in other assets 2,700    
Receipt of common stock for exercises of stock options 653 $ 1,260 $ 686
Repurchase of common stock for employee tax withholding in accrued expenses $ 450