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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net loss $ (418,780) $ (554,128) $ (715,075)
Adjustments to reconcile net loss to cash flows in operating activities:      
(Gain) loss on contingent consideration, net (7,200) [1] 45,000 [1]
Gain from sale of Priority Review Voucher, net of commission (102,000) (108,069)
Depreciation and amortization 38,017 26,911 24,500
Reduction in the carry amounts of the right of use assets 11,325 12,828 6,047
Non-cash interest expense 7,581 25,454 21,444
Stock-based compensation 113,943 108,070 78,602
Impairment of equity investment 4,488
Acquired in-process research and development 173,240
Non-cash up-front payment to StrideBio 29,415
Other 7,620 (2,656) (7,755)
Changes in operating assets and liabilities, net:      
Net increase in accounts receivable (51,650) (10,461) (41,835)
Net increase in inventory (83,772) (60,582) (45,934)
Net decrease (increase) in other assets 103,203 (166,328) (102,091)
Net (decrease) increase in deferred revenue (89,244) 749,429
Net increase in accounts payable, accrued expenses, lease liabilities and other liabilities 23,297 41,998 122,979
Net cash (used in) provided by operating activities (443,172) 107,466 (456,463)
Cash flows from investing activities:      
Purchase of property and equipment (38,490) (82,202) (59,631)
Proceeds from sale of Priority Review Voucher 102,000 108,069
Purchase of available-for-sale securities (29,988) (1,333,568) (1,193,632)
Maturity and sales of available-for-sale securities 466,000 1,189,480 1,715,626
Acquisition of Myonexus Therapeutics, Inc., net of cash acquired (172,556)
Other (4,109) (3,500) (3,082)
Net cash provided by (used in) investing activities 495,413 (121,721) 286,725
Cash flows from financing activities:      
Proceeds from sales of common stock, net of offering costs 548,532 365,354
Proceeds from exercise of stock options and purchase of stock under the Employee Stock Purchase Program 20,802 83,957 36,601
Taxes paid related to net share settlement of equity awards (7,765) (4,798) (4,337)
Proceeds from issuance of common stock to Roche, net of offering costs 312,053
Proceeds from term loans 291,150 245,625
Debt issuance costs (39) (689)
Net cash provided by financing activities 561,569 682,323 642,554
Increase in cash and cash equivalents 613,810 668,068 472,816
Cash, cash equivalents and restricted cash:      
Beginning of year 1,511,713 843,645 370,829
End of year 2,125,523 1,511,713 843,645
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 2,115,869 1,502,648 835,080
Restricted cash in other assets $ 9,654 $ 9,065 $ 8,565
Restricted Cash, Noncurrent, Asset, Statement of Financial Position [Extensible List] Other non-current assets Other non-current assets Other non-current assets
Total cash, cash equivalents and restricted cash $ 2,125,523 $ 1,511,713 $ 843,645
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest 55,949 34,418 8,550
Cash paid during the period for income taxes 583 2,510 933
Lease liabilities arising from obtaining right of use assets 13,225 59,327
Lease liabilities terminated 40,133
Intangible assets and property and equipment included in accounts payable and accrued expenses 4,162 5,151 1,309
Shares withheld for tax included in accrued expenses 0 6,333 4,798
Accrued debt issuance costs $ 0 $ 11,000 $ 5,000
[1] The gain (loss) on contingent consideration, net is related to the fair value adjustment of the regulatory-related contingent payments that are accounted for as derivatives. Please see Note 5. Fair Value Measurements for further details.