Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net loss $ (225,313) $ (212,480)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 39,847 39,622
Depreciation and amortization expense 6,175 5,174
Amortization (accretion) of investment premiums (discounts) 458 (1,177)
Non-cash operating lease expense 1,100 768
Loss on disposals of property and equipment 93 927
Asset retirement obligation accretion expense 58 53
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 717 1,204
Operating lease assets 886 238
Other assets (209) 308
Accounts payable (2,718) 1,527
Accrued compensation 2,004 2,261
Accrued research and development expenses 542 (13,038)
Other current liabilities (459) (1,836)
Operating lease liabilities (924) (487)
Other long-term liabilities 1,104 0
Net cash used in operating activities (176,639) (176,936)
Investing activities    
Purchases of short-term investments (279,192) (147,187)
Proceeds from maturities and sales of short-term investments 199,268 209,379
Purchases of property and equipment (3,912) (3,021)
Proceeds from sale of property and equipment 0 161
Net cash (used in) provided by investing activities (83,836) 59,332
Financing activities    
Proceeds from sale of common stock in underwritten offerings, net 189,301 140,888
Proceeds from issuance of common stock through ATM facilities, net 58,045 12,630
Proceeds from employee stock awards 3,407 4,859
Taxes paid related to net share settlement of restricted stock units (1,521) (6,695)
Principal payments on finance lease obligations (289) (345)
Other financing activities, net (165) 0
Net cash provided by financing activities 248,778 151,337
(Decrease) increase in cash, cash equivalents and restricted cash (11,697) 33,733
Cash, cash equivalents and restricted cash at beginning of period 75,711 62,092
Cash, cash equivalents and restricted cash at end of period 64,014 95,825
Non-cash investing and financing activities    
Property and equipment purchases included in accounts payable and other accrued liabilities 230 699
Finance lease assets obtained in exchange for lease obligations 281 0
Proceeds from issuance of common stock through ATM facilities not yet received 254 0
Receivable for options exercised 12 0
Supplemental cash flow disclosure    
Cash paid for interest 50 43
Cash paid for income taxes $ 7 $ 0