| Dec'19 | Dec'18 | |||||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss | ||||||
-184,594 | -211,505 | |||||
Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||||||
Acquired in-process research and development | ||||||
0 | 109,436 | |||||
Stock-based compensation | ||||||
46,063 | 18,566 | |||||
Amortization of other intangible assets acquired | ||||||
603 | 452 | |||||
Depreciation and amortization | ||||||
4,424 | 1,048 | |||||
Net amortization/accretion on investment securities | ||||||
3,596 | 1,036 | |||||
Non-cash rent expense | ||||||
6,777 | 1,832 | |||||
Change in fair value of convertible notes payable | ||||||
0 | 21,211 | |||||
Debt issuance costs on convertible notes payable | ||||||
0 | 3,358 | |||||
Income tax benefit | ||||||
-331 | -117 | |||||
Share of losses from equity method investments | ||||||
-182 | 0 | |||||
Other | ||||||
0 | 6 | |||||
Changes in operating assets and liabilities: | ||||||
Prepaid expenses and other current assets | ||||||
5,445 | 8,598 | |||||
Other long-term assets | ||||||
4,374 | 244 | |||||
Accounts payable | ||||||
-985 | 8,800 | |||||
Accrued and other current liabilities | ||||||
6,351 | 12,138 | |||||
Other long-term liabilities | ||||||
-2,425 | 0 | |||||
Net cash used in operating activities | ||||||
-137,350 | -44,653 | |||||
Cash flows from investing activities: | ||||||
Purchases of property and equipment | ||||||
50,791 | 3,234 | |||||
Purchase of stock in equity method investment | ||||||
5,075 | 0 | |||||
Proceeds from sales of investments | ||||||
0 | 2,606 | |||||
Proceeds from maturities of investments | ||||||
472,578 | 19,235 | |||||
Purchase of investments | ||||||
252,628 | 649,307 | |||||
Cash paid for acquisition of assets | ||||||
0 | 2,098 | |||||
Net cash (used in) provided by investing activities | ||||||
164,084 | -632,798 | |||||
Cash flows from financing activities: | ||||||
Proceeds from issuance of convertible preferred stock, net of issuance costs | ||||||
0 | 299,281 | |||||
Proceeds from issuance of convertible notes, net of issuance costs | ||||||
0 | 116,842 | |||||
Proceeds from early exercise of stock options | ||||||
0 | 11,370 | |||||
Proceeds from issuance of common stock, net of commissions and issuance costs | ||||||
54,219 | 343,689 | |||||
Proceeds from issuance of common stock and upon exercise of stock options | ||||||
2,958 | 0 | |||||
Proceeds from issuance of common stock under the employee stock purchase plan | ||||||
1,783 | 0 | |||||
Net cash provided by financing activities | ||||||
58,960 | 771,182 | |||||
Net change in cash, cash equivalents and restricted cash | ||||||
85,694 | 93,731 | |||||
Non-cash investing activities: | ||||||
Common stock issued on conversion of convertible preferred stock | ||||||
0 | 411,052 | |||||
Common stock issued on conversion of convertible notes payable | ||||||
0 | 141,410 | |||||
Series A-1 convertible preferred stock issued in asset acquisition | ||||||
0 | 111,770 | |||||
PP&E and other assets acquired in asset acquisition | ||||||
0 | 111,770 | |||||
Right-of-use asset obtained in exchange for lease liability | ||||||
13,827 | 33,015 | |||||
Property and equipment purchases in accounts payable and accrued liabilities | ||||||
4,668 | 3,182 | |||||
Deferred offering costs included in accounts payable and accrued and other current liabilities | ||||||
135 | 356 | |||||
Supplemental disclosure: | ||||||
Cash paid for amounts included in the measurement of lease liabilities | ||||||
3,563 | 31 | |||||
Cash received for amounts related to tenant improvement allowances from lessors | ||||||
-4,473 | 0 | |||||