v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net loss $ (73,509) $ (66,257)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 12,644 12,269
Depreciation and amortization expense 1,949 1,648
Amortization (accretion) of investment premiums (discounts) 42 (458)
Non-cash operating lease expense 364 331
Asset retirement obligation accretion expense 19 17
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,888) (1,434)
Other assets (209) 38
Accounts payable (590) 2,672
Accrued compensation (5,030) (3,177)
Accrued research and development expenses (514) (13,016)
Other current liabilities (169) (2,572)
Operating lease liabilities (153) (261)
Net cash used in operating activities (67,044) (70,200)
Investing activities    
Purchases of short-term investments (56,851) (7,427)
Proceeds from maturities and sales of short-term investments 97,157 75,819
Purchases of property and equipment (1,333) (796)
Net cash provided by investing activities 38,973 67,596
Financing activities    
Proceeds from issuance of common stock through ATM facilities, net 24,277 0
Proceeds from employee stock awards 1,330 2,747
Taxes paid related to net share settlement of restricted stock units (1,395) (4,575)
Principal payments on finance lease obligations (90) (98)
Other financing activities, net (165) 0
Net cash provided by (used in) financing activities 23,957 (1,926)
Decrease in cash, cash equivalents and restricted cash (4,114) (4,530)
Cash, cash equivalents and restricted cash at beginning of period 75,711 62,092
Cash, cash equivalents and restricted cash at end of period 71,597 57,562
Non-cash investing and financing activities    
Property and equipment purchases included in accounts payable and other accrued liabilities 1,098 666
Finance lease assets obtained in exchange for lease obligations 281 0
Accrued costs related to ATM facilities 112 0
Receivable for options exercised 0 151
Supplemental cash flow disclosure    
Cash paid for interest 17 0
Cash paid for income taxes $ 0 $ 0

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