| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 | Sep'17 | Jun'17 | Mar'17 | Dec'16 | Sep'16 | Jun'16 | Mar'16 | Dec'15 | Sep'15 | Jun'15 | Mar'15 | Dec'14 | Sep'14 | Jun'14 | Mar'14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||||||||||||||||||||
Net loss | ||||||||||||||||||||||||
-126,740 | -168,653 | -179,958 | -168,221 | -163,406 | -158,388 | -122,918 | -16,978 | -74,598 | -69,422 | -73,719 | -70,201 | -56,778 | -55,901 | -37,796 | -34,747 | -30,543 | -28,562 | -24,035 | -25,027 | -16,871 | -12,361 | -9,468 | -6,192 | -5,790 |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||||||||||||||||||
Stock-based compensation expense | ||||||||||||||||||||||||
31,110 | 30,679 | 43,669 | 34,767 | 44,116 | 31,640 | 25,478 | 29,028 | 15,817 | 10,245 | 9,731 | 9,350 | 6,208 | 10,093 | 4,748 | 4,465 | 3,714 | 4,086 | 4,407 | 5,398 | 1,349 | 1,326 | 691 | 335 | 160 |
Non-cash licensing and consulting fees | ||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 787 | 424 | 0 | 0 | 0 | 127 |
Premium on marketable securities | ||||||||||||||||||||||||
240 | 1,022 | 765 | 1,148 | 739 | 50 | 90 | 71 | 4 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Amortization of discount on marketable securities | ||||||||||||||||||||||||
18 | 537 | 1,456 | 2,651 | 2,322 | 2,991 | 2,747 | 2,806 | 1,348 | 236 | 62 | 28 | -33 | - | - | - | - | - | - | - | - | - | - | - | - |
Depreciation | ||||||||||||||||||||||||
700 | 700 | 680 | 520 | 400 | 300 | 307 | 246 | 247 | 104 | 136 | 130 | 130 | 82 | 83 | 75 | 41 | 32 | 29 | 32 | 22 | 16 | 13 | 11 | 11 |
Changes in operating assets and liabilities: | ||||||||||||||||||||||||
Prepaid expenses and other current assets | ||||||||||||||||||||||||
-1,221 | -3,713 | 3,392 | 6,739 | -1,637 | 3,191 | -12,820 | 19,743 | 5,348 | 1,335 | -301 | -1,287 | 1,380 | 1,682 | 1,606 | -1,115 | 1,189 | -867 | -671 | 2,085 | 134 | -7 | 287 | 383 | 52 |
Other long-term assets | ||||||||||||||||||||||||
-99 | -25 | -205 | 2,645 | 1,378 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Right-of-use operating asset | ||||||||||||||||||||||||
-1,778 | -1,744 | -1,711 | -1,771 | -2,942 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating lease liabilities, current | ||||||||||||||||||||||||
25 | - | - | - | -156 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating lease liabilities, non-current | ||||||||||||||||||||||||
-1,897 | - | - | - | -2,344 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Accounts payable | ||||||||||||||||||||||||
-7,307 | 10,172 | -7,149 | -1,299 | -20,507 | 27,914 | -2,467 | -26 | -877 | -3,914 | 6,989 | -2,125 | -4,643 | 7,680 | -825 | 1,740 | -799 | 1,782 | -1,952 | 2,417 | 343 | 447 | 379 | 86 | -471 |
Accrued expenses and other liabilities | ||||||||||||||||||||||||
-35,391 | 8,312 | 19,522 | 14,162 | -8,192 | 2,925 | 9,450 | 10,215 | -12,460 | 5,684 | 10,581 | 2,511 | 1,220 | 5,846 | 4,920 | 937 | 1,341 | 3,678 | 1,365 | 35 | 261 | 1,898 | 1,186 | 870 | 399 |
Net cash used in operating activities | ||||||||||||||||||||||||
-136,691 | -116,726 | -128,702 | -133,344 | -149,934 | -101,778 | -80,187 | -135 | -78,571 | -58,899 | -46,092 | -59,076 | -55,210 | -33,776 | -30,796 | -26,671 | -27,435 | -18,117 | -19,515 | -18,443 | -14,606 | -8,667 | -7,486 | -5,273 | -5,616 |
Proceeds from sales and maturities of marketable securities | ||||||||||||||||||||||||
275,197 | 213,430 | 369,188 | 281,389 | 307,263 | 250,625 | 460,672 | 181,500 | 81,960 | 46,789 | 104,000 | 59,683 | 50,753 | - | - | - | - | - | - | - | - | - | - | - | - |
Purchases of marketable securities | ||||||||||||||||||||||||
68,651 | 230,973 | 159,469 | 337,317 | 580,916 | 211,399 | 459,622 | 419,228 | 394,109 | 150,587 | 59,894 | 15,014 | 18,908 | - | - | - | - | - | - | - | - | - | - | - | - |
Purchases of property and equipment | ||||||||||||||||||||||||
276 | 373 | 1,940 | 2,181 | 1,257 | 808 | 998 | 402 | 652 | 804 | 235 | 76 | 245 | 520 | 66 | 494 | 341 | 38 | -21 | 71 | 110 | 45 | 78 | 2 | 3 |
Net cash provided by (used in) investing activities | ||||||||||||||||||||||||
206,270 | -17,916 | 207,779 | -58,109 | -274,910 | 38,418 | 52 | -238,130 | -312,801 | -104,602 | 43,871 | 44,593 | 31,600 | -117,938 | -27,720 | -84,016 | -341 | -38 | 21 | -71 | -110 | -45 | -78 | -2 | -3 |
Cash flows from financing activities | ||||||||||||||||||||||||
Proceeds from stock option exercises and employee stock purchase plan issuances | ||||||||||||||||||||||||
3,160 | 2,166 | 15,402 | 15,601 | 15,681 | 1,628 | 8,078 | 6,645 | 12,757 | 8,974 | 3,687 | 2,758 | 553 | 678 | 416 | 10 | 302 | 67 | 227 | 289 | 147 | - | - | - | - |
Payment of employee tax obligations related to vesting of restricted stock units | ||||||||||||||||||||||||
- | 0 | 1,483 | 0 | 692 | 0 | 0 | 0 | 904 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Payments of offering costs | ||||||||||||||||||||||||
- | 0 | 0 | 258 | 70 | 0 | 0 | 105 | 235 | - | - | - | - | 0 | 0 | 0 | 599 | 36 | 90 | 423 | 35 | - | - | - | - |
Proceeds from public offerings of common stock, net of commissions and underwriting discounts | ||||||||||||||||||||||||
- | 0 | 0 | 0 | 561,277 | 0 | 0 | 0 | 631,494 | - | - | - | - | 0 | 189,175 | 0 | 141,000 | - | - | - | - | 0 | 96,253 | 0 | 2 |
Net cash provided by financing activities | ||||||||||||||||||||||||
3,160 | 2,166 | 13,919 | 15,343 | 576,196 | 1,628 | 8,078 | 6,540 | 643,112 | 334,820 | 3,687 | 2,758 | 553 | 678 | 189,591 | 10 | 140,703 | 31 | 137 | 129,586 | 112 | -249 | 95,164 | -1,023 | 52,978 |
Net increase in cash, cash equivalents and restricted cash | ||||||||||||||||||||||||
72,739 | -132,476 | 92,996 | -176,110 | 151,352 | -61,732 | -72,057 | -231,725 | 251,740 | 171,319 | 1,466 | -11,725 | -23,057 | -151,036 | 131,075 | -110,677 | 112,927 | -18,124 | -19,357 | 111,072 | -14,604 | -8,961 | 87,600 | -6,298 | 47,359 |
Supplemental disclosure of non-cash operating and investing activities | ||||||||||||||||||||||||
Accretion of redeemable convertible preferred stock to redemption value | ||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 391 | 1,577 | 326 |
Purchases of property and equipment included in accounts payable | ||||||||||||||||||||||||
15 | 54 | -241 | 174 | 78 | 32 | 9 | -5 | 15 | - | - | - | 64 | - | - | - | 279 | - | - | - | - | - | - | - | - |
Public offering costs included in accounts payable | ||||||||||||||||||||||||
- | - | - | - | 259 | - | - | - | 105 | - | - | - | - | - | - | - | - | 161 | -133 | -14 | 151 | - | - | - | - |
Deferred public offering costs included in accounts payable or accrued expenses | ||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 842 |