v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net loss $ (150,965) $ (140,585)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 26,592 27,470
Depreciation and amortization expense 4,002 3,385
Amortization (accretion) of investment premiums (discounts) 170 (817)
Non-cash operating lease expense 734 576
Loss on disposals of property and equipment 93 127
Asset retirement obligation accretion expense 38 35
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,423 720
Operating lease assets 0 238
Other assets (288) 255
Accounts payable (2,933) 2,649
Accrued compensation (2,049) (2,814)
Accrued research and development expenses (97) (14,071)
Other current liabilities (406) (1,658)
Operating lease liabilities (535) (299)
Other long-term liabilities 541 0
Net cash used in operating activities (123,680) (124,789)
Investing activities    
Purchases of short-term investments (228,224) (17,589)
Proceeds from maturities and sales of short-term investments 140,235 136,876
Purchases of property and equipment (3,409) (1,534)
Proceeds from sale of property and equipment 0 96
Net cash (used in) provided by investing activities (91,398) 117,849
Financing activities    
Proceeds from sale of common stock in underwritten offerings, net 189,623 0
Proceeds from issuance of common stock through ATM facilities, net 24,172 7,630
Proceeds from employee stock awards 3,234 4,676
Taxes paid related to net share settlement of restricted stock units (1,395) (6,670)
Principal payments on finance lease obligations (197) (235)
Other financing activities, net (165) 0
Net cash provided by financing activities 215,272 5,401
Increase (decrease) in cash, cash equivalents and restricted cash 194 (1,539)
Cash, cash equivalents and restricted cash at beginning of period 75,711 62,092
Cash, cash equivalents and restricted cash at end of period 75,905 60,553
Non-cash investing and financing activities    
Property and equipment purchases included in accounts payable and other accrued liabilities 253 473
Finance lease assets obtained in exchange for lease obligations 281 0
Accrued costs related to underwritten public offering 322 0
Receivable for options exercised 0 24
Supplemental cash flow disclosure    
Cash paid for interest 37 31
Cash paid for income taxes $ 1 $ 0

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