| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
Net loss | ||||||||
-170,295 | -123,630 | -134,309 | -110,212 | -132,376 | -55,005 | -3,483 | -702 | -20,957 |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
Acquired in-process research and development | ||||||||
- | - | - | - | 40,000 | - | - | - | - |
Depreciation and amortization | ||||||||
800 | 1,100 | 1,639 | 1,589 | 1,419 | 742 | 703 | 847 | 479 |
Stock-based compensation | ||||||||
18,016 | 12,004 | 11,431 | 10,568 | 9,849 | 6,864 | 2,819 | 689 | 305 |
Amortization of discount on investments | ||||||||
3,175 | 1,556 | -265 | 51 | - | - | - | - | - |
Amortization of debt discount | ||||||||
37 | - | - | - | - | - | - | - | - |
Non-cash interest expense associated with the sale of future royalties | ||||||||
192 | - | - | - | - | - | - | - | - |
Loss on disposal of property and equipment | ||||||||
- | - | - | - | -27 | -2 | - | -35 | -24 |
Deferred income taxes | ||||||||
92 | 184 | -368 | - | - | - | - | - | - |
Changes in operating assets and liabilities: | ||||||||
Accounts receivable | ||||||||
-17,500 | 19,686 | 359 | -239 | -1,813 | -31,592 | 31,838 | -44 | 1,872 |
Prepaid expenses and other current assets | ||||||||
3,359 | 3,181 | 2,525 | 1,542 | 1,638 | 419 | 1,495 | 607 | -191 |
Accounts payable | ||||||||
3,389 | -2,404 | 1,967 | 341 | -3,647 | 3,611 | 1,641 | 469 | 1,284 |
Accrued expenses | ||||||||
2,897 | 2,066 | 1,523 | 4,673 | 4,292 | 411 | 2,304 | 2,667 | 769 |
Deferred revenue | ||||||||
-13,300 | 13,300 | - | -1,900 | 7,558 | -23,721 | -22,573 | 39,628 | 29,817 |
Operating lease assets | ||||||||
9,921 | - | - | - | - | - | - | - | - |
Operating lease liabilities | ||||||||
10,043 | - | - | - | - | - | - | - | - |
Other assets and liabilities | ||||||||
124 | -251 | - | - | - | - | - | - | - |
Other assets | ||||||||
- | - | 17 | -106 | 178 | -606 | 433 | 415 | 282 |
Other liabilities | ||||||||
- | - | 320 | -182 | -44 | -46 | -1,379 | 1,499 | 242 |
Acquisition of in-process research and development | ||||||||
- | - | - | - | 40,000 | - | - | - | - |
Net cash used in operating activities | ||||||||
-147,168 | -121,600 | -120,433 | -96,371 | -72,925 | -35,363 | -53,734 | 44,154 | 10,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
Purchases of marketable securities | ||||||||
504,981 | 298,670 | 126,356 | 229,887 | - | - | - | - | - |
Proceeds from sales/maturities of marketable securities | ||||||||
420,255 | 196,363 | 240,670 | 65,097 | - | - | - | - | - |
Purchases of property and equipment | ||||||||
594 | 299 | 984 | 624 | 183 | 2,216 | 630 | 1,482 | 918 |
Proceeds from sale of redeemable convertible preferred stock | ||||||||
- | - | - | - | - | - | - | 21,961 | 19,000 |
Net cash provided by (used in) investing activities | ||||||||
-85,320 | -102,606 | 113,330 | -165,414 | -40,183 | -2,216 | -630 | -1,445 | -918 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
Proceeds from issuance of common stock, net of commissions | ||||||||
122,991 | 81,938 | 152,922 | 130,438 | 130,712 | 101,283 | 82,491 | 0 | - |
Proceeds from issuance of preferred stock, net of commissions | ||||||||
37,432 | - | - | - | - | - | - | - | - |
Proceeds from property insurance claim | ||||||||
- | - | - | - | - | - | - | 37 | - |
Payment of redeemable convertible preferred stock issuance costs | ||||||||
- | - | - | - | - | - | - | 38 | 21 |
Payment of offering costs | ||||||||
284 | 260 | 388 | 483 | 367 | 649 | 2,849 | 0 | - |
Proceeds from the issuance of debt | ||||||||
25,000 | - | - | - | - | - | - | - | - |
Payment of debt issuance costs | ||||||||
1,650 | - | - | - | - | - | - | - | - |
Proceeds from the issuance of common stock, warrants, and sale of future royalties to RPI, net of offering costs | ||||||||
99,774 | - | - | - | - | - | - | - | - |
Proceeds from reimbursement of common stock offering costs | ||||||||
- | - | - | - | - | 269 | - | 0 | - |
Payment under capital lease obligation | ||||||||
16 | 129 | 620 | 561 | 441 | - | - | - | - |
Proceeds from stock options exercised | ||||||||
2,358 | 1,885 | 3,281 | 1,589 | 996 | 2,736 | 277 | 8 | 104 |
Issuance of shares under employee stock purchase plan | ||||||||
741 | 779 | 677 | 374 | 436 | 454 | - | 0 | - |
Net cash provided by financing activities | ||||||||
286,346 | 84,213 | 155,872 | 131,357 | 131,336 | 104,110 | 79,947 | 21,931 | 19,083 |
Excess tax benefit from stock option plan | ||||||||
- | - | - | - | - | 17 | 28 | 0 | - |
Net increase in cash, cash equivalents and restricted cash | ||||||||
53,858 | -139,993 | 148,769 | -130,428 | 18,228 | 66,531 | 25,583 | 64,640 | 28,165 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||||||||
Equipment acquired under capital lease | ||||||||
- | - | - | - | 1,732 | - | - | - | - |
Unpaid offering costs | ||||||||
78 | 75 | - | - | - | - | - | - | - |
Unpaid debt issuance costs | ||||||||
78 | - | - | - | - | - | - | - | - |
Property and equipment included in accounts payable or accruals | ||||||||
454 | 194 | 58 | - | - | - | - | - | - |
Conversion of redeemable convertible preferred stock to common stock | ||||||||
- | - | - | - | - | - | 76,420 | 0 | - |
Accretion of redeemable convertible preferred stock to redemption value | ||||||||
- | - | - | - | - | - | 264 | 486 | -45 |
Vesting of restricted stock liability | ||||||||
- | - | - | - | - | - | - | 9 | 13 |
Cash paid for income taxes | ||||||||
45 | 48 | 33 | - | - | 963 | 8 | 92 | - |
Purchases of property and equipment unpaid at period end | ||||||||
- | - | - | - | - | - | - | 0 | - |