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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net loss $ (167,392) $ (219,583)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,551 5,394
Amortization and accretion income, net 9 (1,023)
Share-based compensation 45,143 47,425
Amortization of right-of-use assets 2,758 2,213
Gain from lease modification (1,863)  
Undistributed earnings from TRC, LLC (22,310) (20,337)
Interest shortfall on 2035 notes, net 5,713 10,144
Loss on extinguishment of debt   15,464
Other 35 (42)
Changes in operating assets and liabilities:    
Receivables from collaborative and licensing arrangements 1,867 9,597
Prepaid clinical and development services 7,132 (18,025)
Other prepaid and current assets (99) (2,274)
Other assets (1,006) 578
Accounts payable 2,206 2,133
Accrued personnel-related expenses, accrued clinical and development expenses, and other accrued liabilities (36,573) (178)
Accrued interest payable 1,834 132
Deferred revenue (8,648) (19,382)
Operating lease liabilities 443 2,021
Other long-term liabilities 776 265
Net cash used in operating activities (165,424) (185,478)
Investing activities    
Purchases of property and equipment (2,962) (5,372)
Purchases of marketable securities (104,774) (337,556)
Maturities of marketable securities 221,400 281,318
Proceeds from the sale of marketable securities   19,928
Proceeds from the sale of property and equipment 6 35
Net cash provided by (used in) investing activities 113,670 (41,647)
Financing activities    
Proceeds from the sale of ordinary shares, net 108,180 139,915
Proceeds from issuance of 2035 notes, net   380,000
Payment of issuance costs on 2035 notes   (5,326)
Principal payment on notes (10,730) (235,347)
Payment of redemption premium on 2033 notes   (11,470)
Proceeds from ESPP purchases 2,862 2,545
Proceeds from option exercises 5 960
Repurchase of shares to satisfy tax withholding (8,606) (8,935)
Net cash provided by financing activities 91,711 262,342
Net increase in cash, cash equivalents, and restricted cash 39,957 35,218
Cash, cash equivalents, and restricted cash at beginning of period 82,300 58,897
Cash, cash equivalents, and restricted cash at end of period 122,257 94,115
Supplemental disclosure of cash flow information    
Cash paid for interest 25,967 20,287
Cash (received) paid for income taxes, net $ (3,814) $ 14