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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended 106 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2020
Cash flows from operating activities:        
Net income (loss) $ (444,440,000) $ (440,667,000) $ 681,313,000  
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:        
Non-cash royalty revenue related to sale of future royalties (48,563,000) (36,303,000) (33,308,000) $ (255,705,000)
Non-cash interest expense on liability related to sale of future royalties 30,267,000 25,044,000 21,196,000 196,960,000
Stock-based compensation 94,261,000 99,795,000 88,101,000  
Depreciation and amortization 14,182,000 13,156,000 10,870,000  
Impairment of advance payments to contract manufacturers and equipment for terminated program 20,351,000 0 0  
Accretion of premiums (discounts), net and other non-cash transactions 3,943,000 (11,394,000) (10,952,000)  
Changes in operating assets and liabilities        
Accounts receivable 1,913,000 6,411,000 (25,505,000)  
Inventory (2,627,000) (1,284,000) (655,000)  
Operating leases, net 2,743,000 13,090,000 0  
Other assets 4,476,000 1,190,000 (31,652,000)  
Accounts payable 2,382,000 12,967,000 971,000  
Accrued compensation 4,697,000 1,530,000 1,674,000  
Other accrued expenses 8,644,000 4,349,000 31,492,000  
Deferred revenue (5,516,000) (16,565,000) (15,331,000)  
Net cash provided by (used in) operating activities (313,287,000) (328,681,000) 718,214,000  
Cash flows from investing activities:        
Purchases of investments (987,533,000) (1,380,865,000) (2,271,250,000)  
Maturities of investments 1,449,304,000 1,614,036,000 890,957,000  
Sales of investments 41,700,000 0 11,963,000  
Purchases of property, plant and equipment (7,258,000) (26,285,000) (14,239,000)  
Sales of property and plant 0 0 2,633,000  
Net cash provided by (used in) investing activities 496,213,000 206,886,000 (1,379,936,000)  
Cash flows from financing activities:        
Issuance of common stock to Bristol-Myers Squibb (Note 10) 0 0 790,231,000  
Proceeds from sale of future royalties, net of $3.8 million of transaction costs 146,250,000 0 0  
Repayment of senior notes (250,000,000) 0 0  
Proceeds from shares issued under equity compensation plans 23,396,000 23,355,000 61,735,000  
Net cash provided by (used in) financing activities (80,354,000) 23,355,000 851,966,000  
Effect of exchange rates on cash and cash equivalents 20,000 (102,000) (101,000)  
Net increase (decrease) in cash and cash equivalents 102,592,000 (98,542,000) 190,143,000  
Cash and cash equivalents at beginning of year 96,363,000 194,905,000 4,762,000  
Cash and cash equivalents at end of year 198,955,000 96,363,000 194,905,000 $ 198,955,000
Supplemental disclosure of cash flow information:        
Cash paid for interest 9,742,000 19,199,000 19,471,000  
Cash paid for income taxes 539,000 555,000 618,000  
Operating lease right-of-use assets recognized in exchange for lease liabilities $ 2,133,000 $ 57,691,000 $ 0