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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net loss $ (145,940) $ (112,418)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,034 2,867
Amortization and accretion income, net (854) (1,696)
Share-based compensation 31,861 23,519
Amortization of right-of-use assets 1,420 2,016
Amounts due from TRC, LLC (6,934) (14,595)
Interest shortfall on 2035 notes, net 1,093  
Loss on extinguishment of debt 15,464  
Other (4) 53
Changes in operating assets and liabilities:    
Accounts receivable   389
Receivables from collaborative and licensing arrangements 10,583 9,074
Other prepaid and current assets (6,039) (2,407)
Tax receivable (300) (3,700)
Other assets (73) 2
Accounts payable 6,012 (5,491)
Accrued personnel-related expenses, accrued clinical and development expenses, and other accrued liabilities (5,753) (15,580)
Accrued interest payable (1,957) 2,672
Deferred revenue (12,120) (12,826)
Operating lease liabilities 885 (1,371)
Other long-term liabilities 175 269
Net cash used in operating activities (108,447) (129,223)
Investing activities    
Purchases of property and equipment (3,322) (1,796)
Purchases of marketable securities (280,495) (208,028)
Maturities of marketable securities 155,703 131,368
Proceeds from the sale of marketable securities 19,927  
Proceeds from the sale of property and equipment 1  
Proceeds from the sale of VIBATIV business, net   5,000
Net cash used in investing activities (108,186) (73,456)
Financing activities    
Proceeds from the sale of ordinary shares, net 139,915  
Proceeds from issuance of 2035 notes, net 380,000  
Payment of issuance costs on 2035 notes (5,326)  
Payment of redemption premium on 2033 notes (11,470)  
Principal payment on 2033 notes (235,347)  
Proceeds from ESPP purchases 2,545 2,605
Proceeds from option exercises 936 2,545
Repurchase of shares to satisfy tax withholding (7,948) (2,181)
Net cash provided by financing activities 263,305 2,969
Net increase (decrease) in cash, cash equivalents, and restricted cash 46,671 (199,710)
Cash, cash equivalents, and restricted cash at beginning of period 58,897  
Cash, cash equivalents, and restricted cash at end of period 105,568 179,144
Supplemental disclosure of cash flow information    
Cash paid for interest 20,287 11,753
Cash paid for income taxes, net $ 14 21
Right-of-use assets obtained in exchange for lease obligations (1)   $ 49,847