| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss | ||||||
-528,805 | -240,922 | -127,190 | -63,534 | |||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Non-cash share-based compensation expense | ||||||
54,972 | 16,925 | 13,239 | 4,603 | |||
Non-cash interest expense on mandatorily redeemable preferred shares | ||||||
12,711 | 0 | 0 | - | |||
Non-cash interest expense on liability related to sale of future royalties | ||||||
26,580 | 11,726 | 0 | 0 | |||
Non-cash interest expense | ||||||
0 | 0 | 784 | 374 | |||
Non-cash issuance of common shares as payment for license agreement | ||||||
5,646 | 4,080 | 0 | 0 | |||
Change in fair value of derivative liability | ||||||
3,875 | 0 | -512 | 65 | |||
Fair value of contingent equity liability under license agreements | ||||||
- | - | - | 21,675 | |||
Fair value of warrants issued as consideration for license agreement | ||||||
- | - | - | 2,127 | |||
Change in fair value of warrant liability | ||||||
0 | 1,182 | 3,241 | -154 | |||
Change in fair value of contingent equity liability | ||||||
0 | 0 | 13,082 | 2,263 | |||
Loss from equity method investment | ||||||
-6,076 | -2,808 | -1,885 | -247 | |||
Deferred tax assets | ||||||
0 | 0 | -9 | 0 | |||
Other non-cash items | ||||||
-646 | -269 | -64 | 4 | |||
Changes in operating assets and liabilities: | ||||||
Prepaid expenses and other current assets | ||||||
3,464 | 2,893 | 4,730 | -24 | |||
Other assets | ||||||
232 | -21 | 32 | 0 | |||
Accounts payable | ||||||
3,319 | 5,390 | 3,975 | 678 | |||
Accrued expenses and other current liabilities | ||||||
43,320 | 3,697 | 1,341 | 2,148 | |||
Other long-term liabilities | ||||||
-1,975 | 576 | 29 | -16 | |||
Net cash used in operating activities | ||||||
-377,331 | -197,141 | -94,815 | -29,504 | |||
Purchases of property and equipment | ||||||
2,534 | 4,165 | 541 | 26 | |||
Purchase of equity method investment | ||||||
0 | 6,375 | 6,627 | 3,000 | |||
Payments for leasehold improvements | ||||||
1,250 | 0 | 0 | - | |||
Net cash used in investing activities | ||||||
-3,784 | -10,540 | -7,168 | -3,026 | |||
Proceeds from issuance of common shares | ||||||
303,221 | 190,125 | 179,996 | 11,399 | |||
Proceeds from sale of future royalties | ||||||
0 | 106,047 | 0 | 0 | |||
Proceeds from issuance of common stock related to sale of future royalties | ||||||
0 | 43,953 | 0 | 0 | |||
Proceeds from issuance of mandatorily redeemable preferred shares | ||||||
125,000 | 0 | 40,000 | - | |||
Proceeds from exercise of warrants | ||||||
1,998 | 0 | 0 | - | |||
Payments of related party notes payable | ||||||
0 | 0 | 595 | 0 | |||
Repayment of notes payable | ||||||
0 | 0 | 5,000 | 0 | |||
Payments of issuance costs | ||||||
1,150 | 2,987 | 5,068 | 1,507 | |||
Proceeds from issuance of Series A preferred shares | ||||||
- | - | - | 40,000 | |||
Proceeds from borrowings | ||||||
- | - | - | 5,000 | |||
Proceeds from exercise of stock options | ||||||
5,524 | 3,324 | 426 | 0 | |||
Payments of debt issuance costs | ||||||
- | - | - | 197 | |||
Advanced payment for the second closing of Series A preferred stock | ||||||
- | - | - | 67 | |||
Net cash provided by financing activities | ||||||
434,593 | 340,462 | 209,759 | 54,762 | |||
Net increase in cash and restricted cash | ||||||
53,478 | 132,781 | 107,776 | 22,232 | |||
Supplemental disclosure of cash flow information: | ||||||
Cash paid for interest | ||||||
0 | 0 | 122 | 11 | |||
Cash paid for income taxes | ||||||
823 | 333 | 1,049 | 0 | |||
Supplemental disclosure of non-cash investing and financing activities: | ||||||
Deferred offering costs included in accounts payable and accrued expenses | ||||||
0 | 1,018 | 0 | 134 | |||
Series A convertible preferred share offering costs included in accrued expenses | ||||||
- | - | - | 343 | |||
Issuance of warrants to guarantor and co-guarantor of notes payable | ||||||
- | - | - | 934 | |||
Beneficial conversion feature on Series A preferred shares | ||||||
0 | 0 | -12,006 | 0 | |||
Accretion of beneficial conversion feature on Series A preferred shares | ||||||
0 | 0 | 12,006 | 0 | |||
Issuance of Series A preferred shares as payment of offering costs | ||||||
0 | 0 | 1,242 | 975 | |||
Issuance of Series A preferred shares in settlement of contingent equity liability | ||||||
- | - | - | 5,000 | |||
Issuance of common shares as payment of equity investment | ||||||
0 | 0 | 352 | 0 | |||
Issuance of notes payable to related parties in connection with acquisition of BPI | ||||||
- | - | - | 595 | |||
Purchases of property and equipment under financing lease | ||||||
0 | 0 | 1,787 | 0 | |||