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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended 82 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2018
Cash flows from operating activities:        
Net income (loss) $ 681,313 $ (96,692) $ (153,524)  
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 (33,308) (30,531) (30,158) $ (170,839)
Non-cash interest expense on liability related to sale of future royalties 21,196 18,869 19,712 141,649
Stock-based compensation 88,101 36,615 25,850  
Depreciation and amortization 10,870 14,741 15,351  
Impairment of equipment from terminated program 0 15,081 0  
Accretion of discounts, net, and other non-cash transactions (10,952) (881) (2,185)  
Changes in operating assets and liabilities:        
Accounts receivable (25,505) 10,664 4,269  
Inventory (655) 383 237  
Other assets (31,652) (4,800) (312)  
Accounts payable 971 2,074 518  
Accrued compensation 1,674 (10,017) 12,282  
Other accrued expenses 27,947 7,277 (71)  
Deferred revenue (15,331) (28,269) (17,615)  
Other liabilities 3,545 (14,928) 8,622  
Net cash provided by (used in) operating activities 718,214 (80,414) (117,024)  
Cash flows from investing activities:        
Purchases of investments (2,271,250) (404,425) (334,659)  
Maturities of investments 890,957 347,743 253,682  
Sales of investments 11,963 37,549 4,969  
Purchases of property, plant and equipment (14,239) (9,676) (6,392)  
Sales of property and plant 2,633 0 0  
Net cash used in investing activities (1,379,936) (28,809) (82,400)  
Cash flows from financing activities:        
Payment of capital lease obligations 0 (5,131) (5,945)  
Proceeds from shares issued under equity compensation plans 61,735 59,522 20,287  
Issuance of common stock, net of issuance costs 790,231 0 189,276  
Net cash provided by financing activities 851,966 54,391 203,618  
Effect of exchange rates on cash and cash equivalents (101) (46) (124)  
Net increase (decrease) in cash and cash equivalents 190,143 (54,878) 4,070  
Cash and cash equivalents at beginning of year 4,762 59,640 55,570  
Cash and cash equivalents at end of year 194,905 4,762 59,640 $ 194,905
Supplemental disclosure of cash flow information:        
Cash paid for interest 19,471 20,116 20,589  
Cash paid for income taxes $ 618 $ 556 $ 757