| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|---|---|
Operating activities | ||||||||
Net loss | ||||||||
-411,472 | -346,028 | -314,670 | -198,471 | -117,732 | -53,504 | -39,407 | -20,102 | -23,706 |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
Depreciation and amortization | ||||||||
8,087 | 7,172 | 6,432 | 5,700 | 3,342 | 1,367 | 1,440 | 1,179 | 801 |
Stock-based compensation expense | ||||||||
72,373 | 73,357 | 47,809 | 42,086 | 31,963 | 11,506 | 3,030 | 742 | 371 |
Deferred taxes | ||||||||
- | - | - | - | - | - | 3,842 | 6,707 | -10,660 |
Net accretion of premium and discounts on investments | ||||||||
3,195 | 3,837 | 11 | -773 | -539 | -538 | -284 | -287 | -391 |
Loss on disposal of property and equipment | ||||||||
-1,052 | -20 | -40 | 0 | -33 | - | - | -10 | - |
Non-cash operating lease expense | ||||||||
8,532 | - | - | - | - | - | - | - | - |
Changes in operating assets and liabilities: | ||||||||
Accounts receivable, net | ||||||||
3,876 | 5,076 | 0 | 0 | - | - | - | - | - |
Collaboration receivable – related party | ||||||||
-923 | 14 | -2,438 | -3,339 | 1,733 | 6,016 | 476 | - | - |
Collaboration receivable – other | ||||||||
1,258 | 670 | 0 | 0 | - | - | - | - | - |
Royalty receivable – related party | ||||||||
666 | 1,012 | 1,222 | 0 | 0 | - | - | - | - |
Inventory | ||||||||
6,462 | 869 | 0 | 0 | - | - | - | - | - |
Tenant improvement and other receivables | ||||||||
- | - | - | - | 1,040 | 2,334 | - | - | - |
Prepaid expenses and other current and non-current assets | ||||||||
7,742 | -1,148 | 3,600 | 2,420 | 3,768 | 2,878 | 1,562 | 94 | 63 |
Accounts payable | ||||||||
3,716 | -5,488 | 5,329 | 3,501 | 4,215 | 7,577 | 30 | -322 | 809 |
Accrued expenses | ||||||||
7,233 | 8,623 | 1,522 | 16,854 | 1,633 | 5,231 | 4,878 | 156 | 525 |
Deferred revenue – related party | ||||||||
-31,006 | -31,665 | -26,570 | 165,846 | -14,047 | -19,228 | -25,072 | -25,072 | -1,797 |
Operating lease liabilities | ||||||||
-6,861 | - | - | - | - | - | - | - | - |
Deferred rent | ||||||||
0 | 82 | 2,729 | -1,346 | -15,805 | -3,691 | 85 | 46 | -243 |
Refundable income taxes and income taxes payable | ||||||||
- | - | - | - | 3,841 | -5,303 | -3,302 | -12,993 | 17,867 |
Net cash used in operating activities | ||||||||
-370,622 | -304,421 | -285,232 | 38,562 | -76,949 | -59,353 | -56,400 | -49,548 | -15,219 |
Investing activities | ||||||||
Proceeds from maturities and sales of marketable securities | ||||||||
592,177 | 666,481 | 635,421 | 396,632 | 501,650 | 505,528 | 60,126 | 113,041 | 85,482 |
Investing activities | ||||||||
Purchases of marketable securities | ||||||||
488,566 | 933,320 | 688,702 | 506,067 | 353,177 | 837,219 | 146,049 | 88,524 | 105,936 |
Purchases of property and equipment | ||||||||
12,171 | 6,986 | 4,627 | 9,915 | 20,164 | 2,216 | 1,294 | 1,475 | 1,906 |
Net cash provided by investing activities | ||||||||
91,440 | -273,825 | -57,908 | -119,350 | 128,309 | -333,336 | -87,217 | 23,042 | -22,360 |
Financing activities | ||||||||
Proceeds from public offering of common stock, net of reimbursements | ||||||||
277,201 | 516,206 | 270,250 | 162,150 | 0 | 333,577 | 113,367 | - | - |
Release of restricted cash | ||||||||
- | - | - | - | - | 571 | - | - | - |
Payments on financing lease obligations | ||||||||
113 | - | - | - | - | - | - | - | - |
Proceeds from private placement | ||||||||
- | - | - | - | - | - | 12,750 | - | - |
Reimbursement (payment) of public offering costs | ||||||||
0 | 391 | 638 | 230 | 207 | 720 | 2,387 | - | - |
Net proceeds from stock option exercises and employee stock purchase plan | ||||||||
12,523 | 30,209 | 14,222 | 7,858 | 6,580 | 2,303 | 150 | 142 | 57 |
Net proceeds from issuance of Series C convertible preferred stock | ||||||||
- | - | - | - | - | - | - | - | 77,301 |
Net cash provided by financing activities | ||||||||
289,611 | 546,024 | 285,110 | 169,778 | 6,373 | 335,160 | 123,880 | 142 | 77,358 |
Net change in cash and cash equivalents | ||||||||
10,429 | -32,222 | -58,030 | 88,990 | 57,733 | -57,529 | -19,737 | -26,364 | 39,779 |
Supplemental cash flow information | ||||||||
Cash paid for income taxes | ||||||||
- | - | - | - | - | 5,980 | - | 3,549 | - |
Supplemental disclosure of non-cash investing and financing transactions | ||||||||
Conversion of convertible preferred stock upon initial public offering | ||||||||
- | - | - | - | - | - | 115,923 | - | - |
Vesting of restricted stock | ||||||||
- | - | - | - | 6 | 9 | 64 | - | - |
Additions to property and equipment in accounts payable and accrued expenses | ||||||||
5,168 | 1,106 | 1,011 | 73 | 2,163 | 2,118 | 339 | 57 | 275 |
Proceeds from stock option exercises in other current assets | ||||||||
0 | 7 | 0 | 32 | 186 | 20 | - | - | - |
Operating lease liabilities arising from obtaining operating lease assets | ||||||||
42,322 | - | - | - | - | - | - | - | - |
Financing lease liabilities arising from obtaining financing lease assets | ||||||||
1,052 | - | - | - | - | - | - | - | - |
Public offering costs in other current assets, net of amounts in accounts payable and accrued expenses | ||||||||
- | - | - | 230 | 0 | 236 | - | - | - |