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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net loss $ (168,312) $ (353,046)
Adjustments to reconcile net loss to cash flows from operating activities:    
Gain from sale of Priority Review Voucher, net of commission (108,069)  
Acquired in-process research and development   173,240
Depreciation and amortization 13,004 11,113
Reduction in the carrying amounts of the right of use assets 5,389 2,951
Amortization of investment discount (1,928) (5,800)
Non-cash interest expense 12,217 10,513
Stock-based compensation 51,640 35,901
Other (800) 892
Changes in operating assets and liabilities, net:    
Net increase in accounts receivable (13,149) (7,937)
Net increase in inventory (8,271) (31,124)
Net increase in other assets (44,309) (87,708)
Net increase in deferred revenue 794,484  
Net (decrease) increase in accounts payable, accrued expenses and other liabilities (11,709) 25,768
Net cash provided by (used in) operating activities 520,187 (225,237)
Cash flows from investing activities:    
Purchase of property and equipment (28,289) (32,945)
Proceeds from sale of Priority Review Voucher, net of commission 108,069  
Purchase of available-for-sale securities (756,738) (731,288)
Maturity and sale of available-for-sale securities 626,980 1,225,847
Acquisition of Myonexus Therapeutics, Inc., net of cash acquired   (172,556)
Other (1,927) (1,454)
Net cash (used in) provided by investing activities (51,905) 287,604
Cash flows from financing activities:    
Proceeds from issuance of common stock to Roche, net of offering costs   365,353
Proceeds from exercise of stock options and purchase of stock under the Employee Stock Purchase Program 29,342 19,391
Taxes paid related to net share settlement of equity awards (4,798) (889)
Net cash provided by financing activities 336,597 383,855
Increase in cash, cash equivalents and restricted cash 804,879 446,222
Cash, cash equivalents and restricted cash:    
Beginning of period 843,645 370,829
End of period 1,648,524 817,051
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 1,639,959 808,591
Restricted cash in other assets $ 8,565 $ 8,460
Restricted Cash, Noncurrent, Asset, Statement of Financial Position [Extensible List] us-gaap:OtherAssetsNoncurrent us-gaap:OtherAssetsNoncurrent
Total cash, cash equivalents and restricted cash $ 1,648,524 $ 817,051
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 15,032 4,275
Supplemental schedule of non-cash investing activities and financing activities:    
Right of use asset and lease liability additions 37,586  
Sale of available-for-sale securities included in investment receivable   20,000
Intangible assets and property and equipment included in accrued expenses 9,032 $ 3,128
Roche    
Cash flows from financing activities:    
Proceeds from issuance of common stock to Roche, net of offering costs $ 312,053