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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities    
Net loss $ (189,217) $ (51,844)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,472 2,199
Remeasurement of fair-value contingent consideration (2,790) 3,745
Non-cash accretion of discount on marketable securities (150)  
Non-cash interest expense from amortization of debt discount 1,002 723
Provision for other receivables   (1,300)
Stock-based compensation expense 25,065 19,736
Loss on disposal of property and equipment 47  
Impairment of property and equipment 464 8
Changes in operating assets and liabilities:    
Receivables from collaboration and license agreement 1,859 1,141
Prepaid assets 10,534 18,111
Other assets 2,593 3,579
Other assets, non-current   88
Accounts payable (9,198) (1,642)
Accounts payable - related parties (872) (688)
Accrued and other liabilities (9,873) (75)
Deferred revenue (1,562) (93,013)
Advance payments under license agreements (1,070) (180)
Contingent liability to collaborator   (66,255)
Other liabilities, non-current 332 14
Net cash used in operating activities (170,364) (165,653)
Investing activities    
Purchases of property and equipment (4,464) (2,949)
Purchase of investments in marketable securities (74,344)  
Proceeds from sales and maturities of investments in marketable securities 60,000  
Net cash used in investing activities (18,808) (2,949)
Financing activities    
Proceeds from issuance of convertible notes   75,000
Proceeds from issuance of convertible notes - related parties   25,000
Proceeds from common stock offering, net of underwriters discounts and commissions 199,866 69,472
Payments of convertible notes issuance costs   (739)
Payments of common stock offering issuance costs (415) (510)
Proceeds from issuance of common stock upon exercise of stock options 444 1,957
Net cash provided by financing activities 199,895 170,180
Effect of exchange rate changes in cash and cash equivalents (113) (127)
Net increase in cash and cash equivalents 10,610 1,451
Cash and cash equivalents at beginning of period 124,947 [1] 158,226
Cash and cash equivalents at end of period $ 135,557 $ 159,677
[1] The consolidated balance sheet as of December 31, 2016 has been derived from the audited consolidated balance sheet included in the Company’s 2016 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14, 2017.