Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities    
Net loss $ (92,326) $ (53,082)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 15,013 11,003
Amortization of investment premiums and discounts (756) 459
Depreciation and amortization expense 1,064 428
Non-cash interest expense 125 0
Asset retirement obligation accretion expense 16 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,961) (725)
Other assets (102) (74)
Accounts payable (207) 253
Accrued compensation (388) (483)
Accrued research and development expenses 2,655 (337)
Other current liabilities 2,545 160
Long-term liabilities 66 63
Net cash used in operating activities (74,256) (42,335)
Investing activities    
Purchases of short-term investments (357,647) (112,395)
Maturities of short-term investments 51,984 115,349
Sales of short-term investments 79,126 51,711
Purchases of property and equipment (27,257) (4,341)
Net cash (used in) provided by investing activities (253,794) 50,324
Financing activities    
Proceeds from sale of common stock in underwritten offerings, net 293,290 0
Proceeds from issuance of common stock from "at-the-market" facility, net 47,586 9,326
Proceeds from employee stock awards 14,857 495
Taxes paid related to net share settlement of restricted stock units (3,431) (341)
Principal payments on capital lease obligations (272) 0
Net cash provided by financing activities 352,030 9,480
Increase in cash, cash equivalents and restricted cash 23,980 17,469
Cash, cash equivalents and restricted cash at beginning of period 80,617 48,162
Cash, cash equivalents and restricted cash at end of period 104,597 65,631
Non-cash investing and financing activities    
Property and equipment purchases included in accounts payable and other accrued liabilities 5,078 2,502
Facility lease financing obligations 441 10,870
Property & equipment acquired under capital leases 191 0
Asset retirement cost 88 0
Interest capitalized during construction period for build-to-suit lease transaction 77 95
Supplemental cash flow disclosure    
Cash paid for interest $ 67 $ 0