| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
Operating activities: | ||||||
Net loss | ||||||
-288,585 | -169,451 | -43,832 | ||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Stock-based compensation | ||||||
21,374 | 6,067 | 1,841 | ||||
Gain on deconsolidation of PellePharm | ||||||
- | 19,327 | - | ||||
Share in net loss of equity method investments | ||||||
-20,869 | -275 | - | ||||
Fair value of equity method investment | ||||||
-3,819 | - | - | ||||
Accretion of 2027 Notes and term loans | ||||||
1,509 | 783 | - | ||||
Acquired in-process research and development assets | ||||||
3,560 | 17,922 | - | ||||
LEO call option expense | ||||||
1,069 | 3,009 | - | ||||
Change in fair value of Eidos financial instruments | ||||||
- | 1,146 | - | ||||
Other noncash adjustments | ||||||
-1,351 | -442 | -260 | ||||
Changes in operating assets and liabilities: | ||||||
Prepaid expenses and other current assets | ||||||
13,492 | 6,100 | 4,301 | ||||
Other assets | ||||||
16,929 | 843 | 92 | ||||
Accounts payable | ||||||
-4,657 | 16,700 | 1,577 | ||||
Accrued compensation and benefits | ||||||
9,270 | 3,396 | 1,131 | ||||
Accrued research and development liabilities | ||||||
11,981 | 5,785 | 2,650 | ||||
Accrued professional services | ||||||
1,450 | 454 | -346 | ||||
Other accrued and other liabilities | ||||||
1,527 | 2,917 | 356 | ||||
Other liabilities | ||||||
-65 | 182 | 268 | ||||
Net cash used in operating activities | ||||||
-253,587 | -136,643 | -40,488 | ||||
Investing activities | ||||||
Purchases of marketable securities | ||||||
212,899 | - | - | ||||
Decrease in cash and cash equivalents resulting from deconsolidation of PellePharm | ||||||
- | 2,858 | - | ||||
Cash paid for in-process research and development assets acquired | ||||||
2,500 | 16,000 | - | ||||
Cash and cash equivalents acquired in ML Bio asset acquisition | ||||||
784 | - | - | ||||
Purchases of property and equipment | ||||||
2,638 | 2,178 | 464 | ||||
Net cash provided by (used in) investing activities | ||||||
-217,253 | -21,036 | -464 | ||||
Financing activities | ||||||
Proceeds from issuance of common stock in connection with the initial public offering of the Corporation in 2019 and Eidos in 2018, net of underwriting discounts and commissions | ||||||
366,237 | 95,536 | - | ||||
Proceeds from issuance of noncontrolling interest to Alexion (Note 13) | ||||||
23,309 | - | - | ||||
Proceeds from issuance of promissory notes | ||||||
- | 1,000 | 4,000 | ||||
Proceeds from repayment of nonrecourse notes | ||||||
179 | - | 132 | ||||
Proceeds from term loans, net of issuance costs | ||||||
36,939 | 56,438 | - | ||||
Proceeds from at-the-market issuance of noncontrolling interest by Eidos, net | ||||||
23,927 | - | - | ||||
Proceeds from the issuance of redeemable convertible preferred units, net of issuance costs | ||||||
- | 334,998 | 107,019 | ||||
Proceeds from third-party investors in redeemable convertible noncontrolling interests | ||||||
1,500 | 58,430 | 2,839 | ||||
Proceeds from repayment of the loans received by noncontrolling interest shareholder | ||||||
- | 37 | - | ||||
MyoKardia distributions | ||||||
997 | - | 1,151 | ||||
Repurchase of noncontrolling interest | ||||||
55,011 | 44,234 | - | ||||
Repayment of term loans | ||||||
- | 1,097 | - | ||||
Proceeds from BridgeBio common stock issuances under ESPP | ||||||
921 | - | - | ||||
Proceeds from stock option exercises, net of repurchases | ||||||
1,788 | 440 | 144 | ||||
Net cash provided by (used in) financing activities | ||||||
398,792 | 501,548 | 112,983 | ||||
Net increase (decrease) in cash, cash equivalents and restricted cash | ||||||
-72,048 | 343,869 | 72,031 | ||||
Supplemental Disclosures of Cash Flow Information: | ||||||
Cash paid for interest | ||||||
6,092 | 1,574 | - | ||||
Supplemental Disclosures of Non-Cash Investing and Financing Information: | ||||||
Build-to-suit funding liability accrual (Note 14) | ||||||
8,000 | - | - | ||||
Fair value of success fee derivative at issuance of Eidos Term Loan | ||||||
1,148 | - | - | ||||
Tenant improvement paid by landlord | ||||||
2,097 | - | - | ||||
Conversion of promissory note upon issuance of Series C redeemable convertible preferred units | ||||||
- | - | 4,000 | ||||
Transfers from (to) noncontrolling interest (Note 6) | ||||||
-28,635 | 21,596 | -8,200 | ||||
Conversion of redeemable noncontrolling interest into noncontrolling interest | ||||||
- | 12,252 | - | ||||
Conversion of promissory note into redeemable convertible noncontrolling interest | ||||||
- | 1,005 | - | ||||
Capital transaction upon Merger | ||||||
- | - | 4,532 | ||||
Fair value of redeemable convertible noncontrolling interest issued for acquired in-process research and development assets | ||||||
- | 1,922 | - | ||||