Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities    
Net loss $ (140,585) $ (92,326)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 27,470 15,013
Accretion of investment discounts (817) (756)
Depreciation and amortization expense 3,385 1,064
Loss on disposals of property and equipment 127 0
Non-cash interest expense 0 125
Asset retirement obligation accretion expense 35 16
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 720 (1,961)
Operating lease assets 814 0
Other assets 255 (102)
Accounts payable 2,649 (207)
Accrued compensation (2,814) (388)
Accrued research and development expenses (14,071) 2,655
Other current liabilities (1,658) 2,545
Operating lease liabilities (299) 0
Other long-term liabilities 0 66
Net cash used in operating activities (124,789) (74,256)
Investing activities    
Purchases of short-term investments (17,589) (357,647)
Proceeds from maturities and sales of short-term investments 136,876 131,110
Purchases of property and equipment (1,534) (27,257)
Proceeds from sale of property and equipment 96 0
Net cash provided by (used in) investing activities 117,849 (253,794)
Financing activities    
Proceeds from sale of common stock in underwritten offerings, net 0 293,290
Proceeds from issuance of common stock through ATM facility, net 7,630 47,586
Proceeds from employee stock awards 4,676 14,857
Taxes paid related to net share settlement of restricted stock units (6,670) (3,431)
Principal payments on finance and capital lease obligations (235) (272)
Net cash provided by financing activities 5,401 352,030
(Decrease) increase in cash, cash equivalents and restricted cash (1,539) 23,980
Cash, cash equivalents and restricted cash at beginning of period 62,092 80,617
Cash, cash equivalents and restricted cash at end of period 60,553 104,597
Non-cash investing and financing activities    
Property and equipment purchases included in accounts payable and other accrued liabilities 473 5,078
Capitalized lease obligations 0 441
Property & equipment acquired under capital leases 0 191
Asset retirement cost 0 88
Interest capitalized during construction period for build-to-suit lease transaction 0 77
Receivable for options exercised 24 0
Supplemental cash flow disclosure    
Cash paid for interest $ 31 $ 67