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Summary of Basis of Presentation and Recent Accounting Standards (Tables)
 3 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
Effect of Adoption of 842 on Condensed Financial Statements
The following tables summarize the effects of adopting ASC 842 on our condensed consolidated financial statements for the three months ended March 31, 2019 (in thousands, except per share data):
 
 
Three Months Ended March 31, 2019
 
 
 
 
ASC 842
 
 
 
 
Previously reported
 
Adjustments
 
As adjusted
Operating expenses:
 
 
 
 
 
 
Research and development
 
$
130,575

 
$
(162
)
 
$
130,413

General and administrative
 
27,283

 
(30
)
 
27,253

Total operating expenses
 
157,858

 
(192
)
 
157,666

Loss from operations
 
(141,833
)
 
192

 
(141,641
)
Other expense, net
 
(1,820
)
 
(111
)
 
(1,931
)
Loss before benefit from income taxes
 
(132,681
)
 
81

 
(132,600
)
Net loss
 
(132,657
)
 
81

 
(132,576
)
Net loss per share attributable to common stockholders, basic and diluted
 
(0.40
)
 
—

 
(0.40
)



 
 
Three Months Ended March 31, 2019
 
 
Previously reported
 
ASC 842 Adjustment during the period
 
As adjusted
Operating activities
 
 
 
 
 
 
Net loss
 
$
(132,657
)
 
$
81

 
$
(132,576
)
Depreciation and amortization
 
7,328

 
(12
)
 
7,316

Prepaid expenses and other assets
 
3,313

 
41

 
3,354

Right-of-use assets, operating leases
 
—

 
1,620

 
1,620

Deferred lease obligation
 
550

 
(550
)
 
—

Operating lease liabilities
 
—

 
(1,848
)
 
(1,848
)
Other liabilities
 
484

 
327

 
811

Net cash used in operating activities
 
(143,927
)
 
(341
)
 
(144,268
)
Financing activities
 
 
 
 
 

Charges to financing lease obligation
 
—

 
236

 
236

Payments on financing lease obligation
 
(105
)
 
105

 
—

Net cash (used in) provided by financing activities
 
(48
)
 
341

 
293



The following table summarizes our total consolidated net revenue from our strategic collaborators for the periods presented (in thousands):
 
 
Three Months Ended
March 31,
Collaboration Revenue by Strategic Collaborator:
 
2020
 
2019
Merck
 
$
976

 
$
10,687

AstraZeneca
 
1,270

 
814

Vertex
 
2,056

 
2,614

Other
 
155

 
—

Total collaboration revenue
 
$
4,457

 
$
14,115
Components of Accumulated Other Comprehensive Income
The components of accumulated other comprehensive loss for the three months ended March 31, 2020 are as follows (in thousands): 
 
Unrealized Gain on Available-for-Sale Debt Securities
 
March 31, 2020
Accumulated other comprehensive income, balance at December 31, 2019
$
1,804

Other comprehensive loss
(7,931
)
Accumulated other comprehensive loss, balance at March 31, 2020
$
(6,127
)
Reconciliation of Cash and Cash Equivalents
The following table provides a reconciliation of cash, cash equivalents and restricted cash in the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows (in thousands):
 
 
 
As of March 31,
 
 
2020
 
2019
Cash and cash equivalents
 
$
391,720

 
$
502,934

Restricted cash
 
1,032

 
—

Restricted cash, non-current
 
10,791

 
11,823

Total cash, cash equivalents and restricted cash shown in the condensed consolidated
    statements of cash flows
 
$
403,543

 
$
514,757
Reconciliation of Restricted Cash
The following table provides a reconciliation of cash, cash equivalents and restricted cash in the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows (in thousands):
 
 
 
As of March 31,
 
 
2020
 
2019
Cash and cash equivalents
 
$
391,720

 
$
502,934

Restricted cash
 
1,032

 
—

Restricted cash, non-current
 
10,791

 
11,823

Total cash, cash equivalents and restricted cash shown in the condensed consolidated
    statements of cash flows
 
$
403,543

 
$
514,757