XML 53 R6.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net loss $ (715,075) $ (361,918) $ (50,688)
Adjustments to reconcile net loss to cash flows in operating activities:      
Acquired in-process research and development 173,240    
Non-cash up-front payment to StrideBio 29,415    
Gain from sale of Priority Review Voucher     (125,000)
Depreciation and amortization 30,547 12,245 8,092
Amortization of investment discount (8,445) (7,672) (888)
Loss from debt extinguishment   2,322  
Non-cash interest expense 21,444 20,190 2,679
Stock-based compensation 78,602 50,127 30,465
Other 690 3,938 805
Changes in operating assets and liabilities, net:      
Net increase in accounts receivable (41,835) (19,576) (24,240)
Net increase in inventory (45,934) (41,840) (70,792)
Net increase in other assets (102,091) (136,638) (15,354)
Net increase in accounts payable, accrued expenses, lease liabilities and other liabilities 122,979 90,162 12,925
Net cash used in operations (456,463) (388,660) (231,996)
Cash flows from investing activities:      
Purchase of property and equipment (59,631) (61,157) (12,000)
Purchase of intangible assets (3,082) (3,188) (9,215)
Purchase of available-for-sale securities (1,193,632) (1,171,603) (589,520)
Maturity and sales of available-for-sale securities 1,715,626 865,813 296,225
Proceeds from sale of Priority Review Voucher     125,000
Purchase of restricted investment   (353)  
Maturity of restricted investment     10,695
Acquisition of Myonexus Therapeutics, Inc., net of cash acquired (172,556)    
Net cash provided (used) in investing activities 286,725 (370,488) (178,815)
Cash flows from financing activities:      
Proceeds from exercise of options and employee stock purchase program 36,601 50,222 15,224
Taxes paid related to net share settlement of equity awards (4,337)    
Proceeds from sales of common stock, net of offering costs 365,354 513,409 353,959
Repayment of June 2015 and July 2017 Term Loan   (30,000) (15,000)
Proceeds from revolving line of credit   235,872 39,708
Repayment of revolving line of credit   (235,954) (39,645)
Payment for debt extinguishment   (2,134)  
Repayment of mortgage loans and notes payable   (1,265) (109)
Purchase of capped call options     (50,901)
Proceeds from convertible debt offering     570,000
Debt issuance costs (689)   (15,154)
Net cash provided by financing activities 642,554 530,150 888,082
Increase (decrease) in cash and cash equivalents 472,816 (228,998) 477,271
Cash, cash equivalents and restricted cash:      
Beginning of period 370,829 599,827 122,556
End of period 843,645 370,829 599,827
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 835,080 $ 370,829 599,691
Restricted cash in other assets 8,565   $ 136
Restricted Cash, Noncurrent, Asset, Statement of Financial Position [Extensible List]   us-gaap:OtherAssetsNoncurrent us-gaap:OtherAssetsNoncurrent
Total cash, cash equivalents and restricted cash 843,645 $ 370,829 $ 599,827
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest 8,550 11,308 1,912
Cash paid during the period for income taxes 933 1,548 5,336
Supplemental schedule of non-cash investing activities and financing activities:      
Shares withheld for tax included in accrued expenses 4,798    
Accrued debt discount and issuance costs 5,000   625
Property and equipment included in accrued expenses 1,181 5,421 2,525
Reclassification of long term investments to short term investments   $ 9,980  
December 2019 Term Loan [Member]      
Cash flows from financing activities:      
Proceeds from Term Loan $ 245,625    
July 2017 Term Loan [Member]      
Cash flows from financing activities:      
Proceeds from Term Loan     $ 30,000