| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|---|---|
Operating activities | ||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ||||||||
-292,876 | -350,544 | -285,620 | -268,113 | -226,505 | -137,125 | -83,352 | 11,366 | 19,984 |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
Depreciation and amortization | ||||||||
3,000 | 3,102 | 2,410 | 1,924 | 1,311 | 1,542 | 1,359 | 1,389 | 1,382 |
Operating Lease, Cost | ||||||||
3,224 | - | - | - | - | - | - | - | - |
Accretion of discount on investment securities | ||||||||
1,225 | 1,864 | 235 | -1,113 | -3,174 | 3,703 | 2,333 | 1,469 | 751 |
Non-cash interest expense | ||||||||
25,371 | 18,740 | 11,603 | 61 | - | - | - | - | 7 |
Stock-based compensation expense, net of capitalized labor | ||||||||
52,075 | 55,360 | 43,284 | 30,362 | 22,858 | 9,333 | 4,974 | 2,809 | 2,353 |
Charge associated with our Gen 1 manufacturing process transition | ||||||||
0 | 10,311 | 0 | - | - | - | - | - | - |
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net | ||||||||
2,931 | 6,357 | -4,562 | - | - | - | - | - | - |
Provision for excess and obsolete inventories | ||||||||
4,152 | 2,246 | 0 | - | - | - | - | - | - |
Loss on impairment and provision for excess and obsolete inventories of Bevyxxa asset group | ||||||||
27,451 | 0 | 0 | - | - | - | - | - | - |
Loss on impairment of SRX intangible asset | ||||||||
3,151 | 0 | 0 | - | - | - | - | - | - |
Others | ||||||||
-195 | -15 | -52 | - | - | - | - | - | - |
Change in reserve for uncertain tax position | ||||||||
- | - | - | - | -365 | - | - | - | - |
Revaluation of convertible preferred stock warrant liability | ||||||||
- | - | - | - | - | - | -24 | -83 | -23 |
Unrealized loss on foreign currency forward contracts | ||||||||
- | - | - | - | - | -114 | 261 | 51 | - |
Changes in operating assets and liabilities: | ||||||||
Inventories | ||||||||
58,830 | 12,612 | 1,099 | - | - | - | - | - | - |
Trade and other receivables, net | ||||||||
7,698 | -607 | 3,750 | -1,000 | - | - | - | - | - |
Unbilled - collaboration and license revenue | ||||||||
-6,097 | 3,186 | 0 | - | - | - | - | - | - |
Receivables from collaborations | ||||||||
- | - | - | - | 943 | -252 | -353 | -293 | 955 |
Prepaid research and development | ||||||||
- | - | - | - | 15,290 | 745 | -718 | - | - |
Prepaid and other current assets | ||||||||
-3,812 | 7,496 | -235 | -10,055 | -1,001 | 1,383 | 1,187 | 2,481 | - |
Prepaid and other long-term assets | ||||||||
3,813 | 10,968 | 4,395 | -6,779 | -3,619 | 15,559 | -396 | 2,091 | -1,615 |
Accounts payable | ||||||||
-2,652 | 1,881 | -5,242 | 4,308 | -4,061 | 10,763 | -1,773 | 2,017 | 1,437 |
Accrued compensation and employee benefits | ||||||||
- | - | - | -653 | 2,054 | 893 | 650 | -980 | 117 |
Accrued research and development | ||||||||
-582 | -25,142 | 21,155 | -377 | 11,650 | -3,565 | 12,742 | - | - |
Accrued and other liabilities | ||||||||
17,668 | 3,514 | 8,576 | -892 | 1,531 | -261 | -834 | 3,375 | -171 |
Deferred revenue | ||||||||
-360 | -1,288 | -15,796 | 18,747 | -9,569 | 31,374 | 1,169 | -65,426 | -35,387 |
Notes payable and long term royalty-based debt | ||||||||
-13,152 | -1,412 | 0 | - | - | - | - | - | - |
Other long-term liabilities | ||||||||
0 | -965 | -865 | -769 | 2,281 | -42 | -878 | -831 | 45 |
Accrued income taxes | ||||||||
- | - | - | - | - | - | - | - | -2,476 |
Net cash used in operating activities | ||||||||
-237,923 | -326,058 | -225,125 | -196,455 | -207,252 | -100,706 | -63,615 | -49,225 | -11,321 |
Investing activities | ||||||||
Capital expenditures, net | ||||||||
1,544 | 2,559 | 1,236 | 1,864 | 4,746 | 1,629 | 933 | 362 | 1,477 |
Decrease (increase) in restricted cash (SRX Cardio) | ||||||||
- | - | - | - | 341 | - | - | - | -6,000 |
Purchase of intangible assets | ||||||||
0 | 0 | 5,000 | - | - | - | - | - | - |
Purchases of investments | ||||||||
368,747 | 259,083 | 575,624 | 252,323 | 266,068 | 332,171 | 219,813 | 144,644 | 33,805 |
Proceeds from sales of investments | ||||||||
- | - | - | - | - | 2,603 | 8,009 | 36,517 | 2,163 |
Proceeds from maturities of investments | ||||||||
297,289 | 435,723 | 353,088 | 394,730 | 324,100 | 192,045 | 92,001 | 40,687 | 59,829 |
Net cash provided by investing activities | ||||||||
-73,002 | 174,081 | -228,772 | 140,543 | 52,945 | -139,152 | -120,736 | -67,802 | 32,710 |
Proceeds from debt issuance, net | ||||||||
121,703 | 95,000 | 47,444 | - | - | - | - | - | - |
Proceeds from issuance of common stock from public offering, net | ||||||||
243,941 | 0 | 379,894 | - | 272,216 | - | - | 317 | 167 |
Proceeds from issuance of common stock pursuant to equity award plans | ||||||||
24,896 | 15,389 | 19,642 | 1,441 | 11,948 | 4,978 | 2,529 | - | - |
Payments of long-term obligation to collaborator | ||||||||
976 | 0 | 0 | - | - | - | - | - | - |
Other | ||||||||
0 | -140 | 0 | - | - | - | - | - | - |
Proceeds from public offering of common stock, net of underwriters discount | ||||||||
- | - | - | - | - | 175,185 | 251,865 | - | - |
Payment of public offering cost | ||||||||
- | - | - | - | 882 | 564 | 5,883 | - | - |
Dividends to Noncontrolling interest (SRX Cardio)'s shareholders | ||||||||
- | - | - | 1,700 | - | - | - | - | - |
Proceeds from long-term notes payable | ||||||||
- | - | - | 50,000 | - | - | - | - | - |
Proceeds from long-term obligation to Collaborator | ||||||||
- | - | - | 8,000 | - | - | - | - | - |
Repurchase of unvested common stock | ||||||||
- | - | - | - | - | - | - | - | 51 |
Proceeds from issuance of convertible preferred stock, net of issuance costs | ||||||||
- | - | - | - | - | - | - | - | 96,700 |
Repayment of debt | ||||||||
- | - | - | - | - | - | - | - | 2,598 |
Net cash provided by financing activities | ||||||||
389,564 | 110,249 | 446,980 | 57,741 | 283,282 | 179,599 | 248,511 | 317 | 94,218 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||||
-2 | 0 | 0 | - | - | - | - | - | - |
Net (decrease) increase in cash, cash equivalents and restricted cash | ||||||||
78,637 | -41,728 | -6,917 | 1,829 | 128,974 | -60,259 | 64,160 | -116,710 | 115,607 |
Supplemental disclosure of cash flow information | ||||||||
Interest paid | ||||||||
- | - | - | - | - | - | - | - | 14 |
Income taxes paid | ||||||||
- | - | - | - | - | - | - | 57 | 2,476 |
Noncash investing and financing activities: | ||||||||
Net change in accrued offering cost | ||||||||
- | - | - | -238 | 238 | - | - | - | - |
Net change in accounts payable related to purchase of property and equipment | ||||||||
- | - | - | - | 5 | 89 | 165 | - | -362 |