XML 34 R6.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Net loss $ (168,822) $ (50,574)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 9,294 4,559
Loss on early extinguishment of debt   1,208
Loss from remeasurement of development derivative liability 68,406 736
Amortization of right-of-use assets 57 73
Depreciation expense 85 41
Amortization of debt discounts   19
Amortization of term loan facility discounts   104
Amortization of discounts for convertible notes, net of financing costs 1,994  
Changes in operating assets and liabilities:    
Prepaid assets (3,004) 3,824
Other current assets (671) (250)
Other assets (460) (46)
Accounts payable (5,237) 1,906
Accrued expenses (9,991) 2,764
Other liabilities   76
Net cash used in operating activities (108,349) (35,560)
Investing Activities    
Purchase of property and equipment (435) (875)
Purchase of available-for-sale securities (227,419)  
Net cash used in investing activities (227,854) (875)
Financing Activities    
Proceeds from issuance of common stock, net of issuance costs 381,593 109,927
Proceeds from development derivative liability 20,000 60,000
Proceeds from exercise of stock options 1,674 192
Repayment of term loan facility   (21,701)
Net cash provided by financing activities 403,267 148,418
Effect of exchange rate changes on cash, cash equivalents and restricted cash (152) (4)
Net increase in cash, cash equivalents and restricted cash 66,912 111,979
Cash, cash equivalents and restricted cash at beginning of period 351,985 176,268
Cash, cash equivalents and restricted cash at end of period 418,897 288,247
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:    
Cash and cash equivalents 417,881 288,247
Restricted cash 1,016  
Cash, cash equivalents and restricted cash at end of period 418,897 288,247
Supplemental Disclosure of Financing Activities    
Cash paid for Interest $ 3,829 $ 588