| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 | Sep'17 | Jun'17 | Mar'17 | Dec'16 | Sep'16 | Jun'16 | Mar'16 | Dec'15 | Sep'15 | Jun'15 | Mar'15 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||||||||||||
Net loss | ||||||||||||||||||||
-86,432 | -66,898 | -64,455 | -62,878 | -54,266 | -56,998 | -51,702 | -52,552 | -49,500 | -41,166 | -31,792 | -32,497 | -25,870 | -25,076 | -22,086 | -18,139 | -15,523 | -16,008 | -8,991 | -7,376 | -3,441 |
Adjustments to reconcile net loss to net cash used in operating activities | ||||||||||||||||||||
Depreciation and amortization expense | ||||||||||||||||||||
1,298 | - | - | - | 666 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Depreciation expense | ||||||||||||||||||||
- | - | - | - | - | 479 | 383 | 382 | 356 | 297 | 316 | 243 | 144 | 141 | 136 | 132 | 125 | 55 | 30 | 19 | 11 |
Stock-based compensation expense | ||||||||||||||||||||
10,303 | 8,343 | 8,081 | 8,740 | 7,765 | 8,069 | 8,382 | 8,674 | 7,607 | 4,848 | 4,079 | 4,199 | 3,593 | 3,548 | 3,488 | 3,074 | 2,531 | 3,406 | 1,762 | 963 | 26 |
Non-cash interest expense | ||||||||||||||||||||
2,223 | 1,177 | 1,190 | 1,194 | 1,065 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Amortization of premium on investment securities | ||||||||||||||||||||
6 | 132 | 405 | 552 | 542 | 357 | 304 | 200 | 25 | -34 | -77 | -160 | -240 | -171 | -222 | -235 | -291 | - | - | - | - |
Research and development expenses recognized from issuance of common stock | ||||||||||||||||||||
5,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Changes in operating assets and liabilities: | ||||||||||||||||||||
Trade receivables, net | ||||||||||||||||||||
772 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Inventories | ||||||||||||||||||||
4,012 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Prepaid expenses and other assets | ||||||||||||||||||||
-2,429 | -34 | -1,258 | -1,163 | -1,433 | 2,407 | -603 | 155 | 36 | 600 | 812 | 58 | -35 | - | - | - | - | - | - | - | - |
Prepaid expenses | ||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -611 | - | 509 | 360 | 203 |
Other assets | ||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 32 | - | 200 | 1 | 84 |
Accounts payable | ||||||||||||||||||||
191 | 1,879 | -1,145 | 3,521 | 1,945 | -5,445 | 5,574 | 2,990 | -431 | -559 | 1,991 | 634 | 249 | -601 | 252 | -567 | -78 | 536 | 705 | -668 | 499 |
Accrued liabilities | ||||||||||||||||||||
-2,159 | 1,749 | 3,177 | 668 | -3,555 | 5,345 | -4,299 | 3,918 | 2,448 | 4,630 | 1,513 | 6,895 | -1,481 | -328 | 5,817 | 1,037 | 277 | 1,269 | -947 | 2,338 | -801 |
Other liabilities | ||||||||||||||||||||
125 | 107 | 292 | 893 | -340 | -234 | 102 | 390 | -183 | 623 | 302 | 176 | -14 | -12 | 35 | 102 | 215 | - | - | - | - |
Net cash used in operating activities | ||||||||||||||||||||
-71,800 | -52,600 | -50,800 | -46,171 | -45,829 | -51,550 | -41,261 | -36,553 | -39,764 | -31,927 | -24,326 | -20,248 | -23,104 | -22,612 | -10,682 | -11,737 | -11,583 | -18,592 | -8,304 | -4,801 | -3,993 |
Purchase of property and equipment | ||||||||||||||||||||
319 | 953 | 2,234 | 3,488 | 1,372 | 1,120 | 2,057 | 3,860 | 2,383 | 1,173 | 2,401 | 1,951 | 900 | 940 | 2,181 | 3,428 | 1,116 | 617 | 495 | 552 | 44 |
Purchase of investments | ||||||||||||||||||||
32,457 | 26,923 | 32,418 | 21,416 | 85,564 | 69,008 | 59,077 | 68,934 | 64,274 | 20,143 | 34,532 | 19,440 | 55,419 | 93,641 | 22,247 | 18,226 | 63,064 | - | - | - | - |
Maturities of investments | ||||||||||||||||||||
37,640 | 72,367 | 86,754 | 59,738 | 67,408 | 49,805 | 36,280 | 37,816 | 50,802 | 49,341 | 49,180 | 46,991 | 33,009 | 17,250 | 37,006 | 42,605 | 64,086 | - | - | - | - |
Net cash provided by (used in) investing activities | ||||||||||||||||||||
4,864 | 44,491 | 52,102 | 34,834 | -19,528 | -20,323 | -24,854 | -34,978 | -15,855 | 28,025 | 12,247 | 25,600 | -23,310 | -77,331 | 12,578 | 20,951 | -94 | -17,288 | -107,285 | -612 | -44 |
Cash flows from financing activities: | ||||||||||||||||||||
Borrowings under debt agreement | ||||||||||||||||||||
85,000 | 0 | 0 | 0 | 40,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Debt issuance costs | ||||||||||||||||||||
- | 0 | 0 | 0 | 3,856 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Net proceeds from issuance of preferred and common stock | ||||||||||||||||||||
199,907 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Proceeds from underwritten public offering, net of offering costs | ||||||||||||||||||||
- | - | - | - | - | 98,000 | 0 | 972 | 189,463 | - | - | - | - | - | - | - | - | - | - | - | - |
Net cash proceeds from exercise of stock options | ||||||||||||||||||||
1,996 | 11,108 | 3,028 | 3,020 | 3,250 | 2,964 | 2,378 | 3,392 | 1,993 | - | 1,449 | 385 | 1,118 | 2,042 | 585 | 171 | 45 | -106 | 195 | 16 | 198 |
Tax withholdings related to net share settlements of restricted stock units | ||||||||||||||||||||
1,427 | 0 | 0 | 182 | 490 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Net cash provided by financing activities | ||||||||||||||||||||
285,476 | 11,108 | 3,028 | 2,838 | 38,904 | 100,964 | 2,378 | 4,364 | 191,456 | 3,568 | 1,449 | 385 | 1,118 | 147,042 | 585 | 171 | 45 | -104 | 169,748 | -1,398 | 67,081 |
Effects of changes in foreign exchange rates | ||||||||||||||||||||
10 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Net increase (decrease) in cash and cash equivalents | ||||||||||||||||||||
218,538 | 3,036 | 4,280 | -8,494 | -26,453 | 29,091 | -63,737 | -67,167 | 135,837 | -334 | -10,630 | 5,737 | -45,296 | 47,099 | 2,481 | 9,385 | -11,632 | -35,984 | 54,159 | -6,811 | 63,044 |
Supplemental disclosure of non-cash investing and financing activities: | ||||||||||||||||||||
Property and equipment purchases included in accounts payable and accrued liabilities | ||||||||||||||||||||
120 | -117 | -751 | 865 | 1,051 | 641 | 104 | -1,232 | 1,788 | - | - | - | - | - | - | - | - | - | - | - | - |
Receivable for underwritten public offering | ||||||||||||||||||||
- | - | - | - | - | - | - | - | 990 | - | - | - | - | - | - | - | - | - | - | - | - |
Receivable for stock option exercises | ||||||||||||||||||||
- | - | - | - | 383 | - | - | - | 752 | - | - | - | - | - | - | - | - | - | - | - | - |