XML 21 R8.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended 118 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2021
Cash flows from operating activities:        
Net loss $ (523,837,000) $ (444,440,000) $ (440,667,000)  
Adjustments to reconcile net loss to net cash used in operating activities:        
Non-cash royalty revenue related to the sales of future royalties (77,746,000) (48,563,000) (36,303,000) $ (333,451,000)
Non-cash interest expense on liabilities related to sales of future royalties 47,313,000 30,267,000 25,044,000 244,273,000
Loss on revaluation of liability related to the sale of future royalties 24,410,000 0 0  
Change in fair value of development derivative liability 8,023,000 0 0  
Non-cash research and development expense 16,703,000 0 0  
Stock-based compensation 94,674,000 94,261,000 99,795,000  
Depreciation and amortization 14,146,000 14,182,000 13,156,000  
Impairment of advance payments to contract manufacturers and equipment for terminated program 0 20,351,000 0  
Amortization of premiums (discounts), net and other non-cash transactions (6,730,000) (3,943,000) 11,394,000  
Changes in operating assets and liabilities        
Accounts receivable 12,397,000 1,913,000 6,411,000  
Inventory (509,000) (2,627,000) (1,284,000)  
Operating leases, net 2,340,000 2,743,000 13,090,000  
Other assets (2,688,000) 4,476,000 1,190,000  
Accounts payable (11,690,000) 2,382,000 12,967,000  
Accrued compensation 1,203,000 4,697,000 1,530,000  
Other accrued expenses (23,524,000) 8,644,000 4,349,000  
Deferred revenue (605,000) (5,516,000) (16,565,000)  
Net cash used in operating activities (412,660,000) (313,287,000) (328,681,000)  
Cash flows from investing activities:        
Purchases of investments (960,689,000) (987,533,000) (1,380,865,000)  
Maturities of investments 1,166,951,000 1,449,304,000 1,614,036,000  
Sales of investments 11,504,000 41,700,000 0  
Purchases of property, plant and equipment (14,989,000) (7,258,000) (26,285,000)  
Net cash provided by investing activities 202,777,000 496,213,000 206,886,000  
Cash flows from financing activities:        
Proceeds from sale of future royalties, net of $3.8 million of transaction costs 0 146,250,000 0  
Repayment of senior notes 0 (250,000,000) 0  
Cash receipts from development derivative liability 3,000,000 0 0  
Proceeds from shares issued under equity compensation plans 33,238,000 23,396,000 23,355,000  
Net cash provided by (used in) financing activities 36,238,000 (80,354,000) 23,355,000  
Effect of foreign exchange rates on cash and cash equivalents (92,000) 20,000 (102,000)  
Net increase (decrease) in cash and cash equivalents (173,737,000) 102,592,000 (98,542,000)  
Cash and cash equivalents at beginning of year 198,955,000 96,363,000 194,905,000  
Cash and cash equivalents at end of year 25,218,000 198,955,000 96,363,000 $ 25,218,000
Supplemental disclosure of cash flow information:        
Cash paid for interest 0 9,742,000 19,199,000  
Cash paid for income taxes 325,000 539,000 555,000  
Operating lease right-of-use assets recognized in exchange for lease liabilities 1,057,000 2,133,000 57,691,000  
Accounts receivable recognized in exchange for long-term liabilities $ 0 $ 4,000,000 $ 0