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Condensed Consolidated Statements of Cash Flows
$ in Thousands
9 Months Ended
Sep. 30, 2020
USD ($)
Sep. 30, 2019
USD ($)
Cash flows from operating activities:    
Net loss $ (364,811) $ (479,372)
Adjustments to reconcile net loss to cash flows from operating activities:    
Loss on contingent consideration 45,000 [1]  
Gain from sale of Priority Review Voucher, net of commission (108,069)  
Acquired in-process research and development   173,240
Depreciation and amortization 19,623 17,853
Reduction in the carrying amounts of the right of use assets 8,749 4,488
Amortization of investment discount (2,106) (7,449)
Non-cash interest expense 18,532 15,887
Stock-based compensation 78,543 56,538
Other 75 892
Changes in operating assets and liabilities, net:    
Net increase in accounts receivable (30,948) (18,988)
Net increase in inventory (48,739) (40,915)
Net increase in other assets (114,127) (94,710)
Net increase in deferred revenue 771,923  
Net increase in accounts payable, accrued expenses and other liabilities 8,356 79,868
Net cash provided by (used in) operating activities 282,001 (292,668)
Cash flows from investing activities:    
Purchase of property and equipment (53,592) (42,374)
Proceeds from sale of Priority Review Voucher, net of commission 108,069  
Purchase of available-for-sale securities (897,691) (984,225)
Maturity and sale of available-for-sale securities 847,980 1,470,848
Acquisition of Myonexus Therapeutics, Inc., net of cash acquired   (172,556)
Other (2,596) (2,048)
Net cash provided by investing activities 2,170 269,645
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 48,131 24,572
Taxes paid related to net share settlement of equity awards (4,798) (4,337)
Net cash provided by financing activities 355,386 385,588
Increase in cash, cash equivalents and restricted cash 639,557 362,565
Cash, cash equivalents and restricted cash:    
Beginning of period 843,645 370,829
End of period 1,483,202 733,394
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 1,474,637 724,829
Restricted cash in other assets $ 8,565 $ 8,565
Restricted Cash, Noncurrent, Asset, Statement of Financial Position [Extensible List] us-gaap:OtherAssetsNoncurrent us-gaap:OtherAssetsNoncurrent
Total cash, cash equivalents and restricted cash $ 1,483,202 $ 733,394
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 20,462 4,275
Supplemental schedule of non-cash investing activities and financing activities:    
Intangible assets and property and equipment included in accrued expenses 8,292 $ 2,327
Lease liabilities arising from obtaining right of use assets 37,647  
Roche    
Cash flows from financing activities:    
Proceeds from issuance of common stock to Roche, net of offering costs $ 312,053  
[1] The loss on contingent consideration 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.