Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities    
Net loss $ (66,257) $ (41,443)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 12,269 7,014
Accretion of investment discounts (458) (217)
Depreciation and amortization expense 1,648 333
Non-cash interest expense 0 64
Asset retirement obligation accretion expense 17 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,434) (189)
Operating lease assets 331 0
Other assets 38 160
Accounts payable 2,672 (2,119)
Accrued compensation (3,177) (1,352)
Accrued research and development expenses (13,016) 2,330
Other current liabilities (2,572) 544
Operating lease liabilities (261) 0
Other long-term liabilities 0 53
Net cash used in operating activities (70,200) (34,822)
Investing activities    
Purchases of short-term investments (7,427) (292,467)
Sales of short-term investments 12,512 35,890
Maturities of short-term investments 63,307 26,468
Purchases of property and equipment (796) (19,808)
Net cash provided by (used in) investing activities 67,596 (249,917)
Financing activities    
Proceeds from sale of common stock in underwritten offerings, net 0 293,290
Taxes paid related to net share settlement of restricted stock units (4,575) (3,364)
Proceeds from employee stock awards 2,747 6,186
Principal payments on capital lease obligations (98) (101)
Net cash (used in) provided by financing activities (1,926) 296,011
(Decrease) increase in cash, cash equivalents and restricted cash (4,530) 11,272
Cash, cash equivalents and restricted cash at beginning of period 62,092 80,617
Cash, cash equivalents and restricted cash at end of period 57,562 91,889
Non-cash investing and financing activities    
Property and equipment purchases included in accounts payable and other accrued liabilities 666 4,105
Capitalized lease obligations 0 441
Interest capitalized during construction period for build-to-suit lease transaction 0 77
Asset retirement cost 0 88
Receivable for options exercised $ 151 $ 10