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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating Activities    
Net loss $ (423,139) $ (191,489)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 32,882 14,037
Loss on early extinguishment of debt   1,501
Loss from remeasurement of development derivative liability 62,939 10,103
Amortization of right-of-use assets 209 227
Depreciation expense 370 153
Amortization of debt discounts   51
Amortization of term loan facility discounts   104
Amortization of discounts for convertible notes, net of financing costs 10,476 234
Changes in operating assets and liabilities:    
Prepaid assets 8,503 9,591
Other current assets (627) (884)
Other assets (519) (120)
Accounts payable 2,392 1,792
Accrued expenses 4,047 25,545
Other liabilities   91
Net cash used in operating activities (302,467) (129,064)
Investing Activities    
Purchase of property and equipment (4,711) (1,538)
Purchase of available-for-sale securities (567,187)  
Proceeds from maturity of available-for-sale securities 255,000  
Net cash used in investing activities (316,898) (1,538)
Financing Activities    
Proceeds from issuance of common stock, net of issuance costs 381,423 109,629
Proceeds from development derivative liability 20,000 120,000
Payments for capped call transactions and associated costs (43,112) (28,380)
Proceeds from issuance of convertible notes, net of issuance costs 322,874 213,400
Proceeds from exercise of stock options 4,155 2,384
Proceeds from issuance of common stock under employee share purchase plan 521  
Repayment of promissory note   (7,000)
Repayment of term loan facility   (21,701)
Net cash provided by financing activities 685,861 388,332
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,666) (3)
Net increase in cash, cash equivalents and restricted cash 64,830 257,727
Cash, cash equivalents and restricted cash at beginning of period 351,985 176,268
Cash, cash equivalents and restricted cash at end of period 416,815 433,995
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:    
Cash and cash equivalents 415,560 433,995
Restricted cash 1,255  
Cash, cash equivalents and restricted cash at end of period 416,815 433,995
Supplemental Disclosure of Financing Activities    
Cash paid for Interest $ 12,929 $ 959