XML 17 R7.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net loss $ (122,967) $ (138,651)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash royalty revenue related to sale of future royalties (18,798) (9,895)
Change in fair value of development derivative liability 13,296 6,968
Change in fair value of development derivative liability 1,599 0
Non-cash research and development expense 2,248 0
Stock-based compensation 23,898 25,236
Depreciation and amortization 3,543 4,502
Impairment of advance payments to contract manufacturers and equipment for terminated program 0 20,351
Amortization of premiums (discounts), net and other non-cash transactions 2,345 (1,289)
Changes in operating assets and liabilities:    
Accounts receivable 9,733 (5,229)
Inventory (1,516) (1,655)
Operating leases, net 1,541 2,940
Other assets 6,183 1,067
Accounts payable 779 2,687
Accrued compensation 8,981 9,920
Other accrued expenses (7,345) 7,483
Deferred revenue (605) (2,510)
Net cash used in operating activities (77,085) (78,075)
Cash flows from investing activities:    
Purchases of investments (295,314) (241,068)
Maturities of investments 303,612 439,735
Sales of investments 5,036 0
Purchases of property, plant and equipment (2,876) (900)
Net cash provided by investing activities 10,458 197,767
Cash flows from financing activities:    
Proceeds from shares issued under equity compensation plans 17,106 11,077
Cash receipts from development derivative liability 750 0
Net cash provided by financing activities 17,856 11,077
Effect of foreign exchange rates on cash and cash equivalents (20) (97)
Net increase (decrease) in cash and cash equivalents (48,791) 130,672
Cash and cash equivalents at beginning of period 198,955 96,363
Cash and cash equivalents at end of period 150,164 227,035
Supplemental disclosures of cash flow information:    
Cash paid for interest 0 4,951
Operating lease right-of-use asset recognized in exchange for lease liabilities $ 1,057 $ 2,133