XML 20 R9.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities      
Net loss $ (200,042) $ (132,118) $ (68,926)
Adjustments to reconcile net loss to net cash used in operating activities:      
Non-cash interest expense 2,689 492 277
Depreciation 3,242 1,833 1,547
Stock-based compensation 17,504 9,972 6,008
Restructuring charges 69 15 (63)
Change in fair value of warrant liability 265    
Non-cash changes in the fair value of contingent consideration payable 6,760 4,377 100
Charges to research expense for stock issued in asset acquisition 4,607    
Loss on extinguishment of debt 13,302 952  
Foreign currency remeasurement loss 3,660    
Non-cash income tax benefit (1,293)    
Non-cash deferred taxes (2,449)    
Loss on disposal of assets 17    
Changes in operating assets and liabilities:      
Accounts receivable (1,419)    
Inventories (3,651)    
Receivable due from collaboration agreements     1,083
Prepaid expenses and other current assets (394) 308 2,293
Other non-current assets (1,357) (666) 26
Accounts payable and accrued expenses 7,131 15,467 6,169
Non-current liabilities 825 93 (126)
Deferred reimbursements   (864) (57)
Net cash used in operating activities (150,534) (100,139) (51,669)
Investing activities      
Sale and redemption of marketable securities 221,374 290,129 55,914
Purchases of marketable securities (219,932) (289,595) (162,752)
Acquisitions, net of cash acquired   (141,060)  
Purchases of property and equipment (5,951) (4,817) (238)
Net cash used in investing activities (4,509) (145,343) (107,076)
Financing activities      
Proceeds from issuance of common stock and warrants, net of issuance costs 97,068 243,042 135,805
Payments of secured loan agreement (80,000) (15,291) (299)
Payment of capital leases (193)    
Purchase of vested restricted stock units (1,282) (2,044)  
Proceeds from exercise of stock options 3,036 11,186 3,673
Proceeds from exercise of warrants   4,000  
Payment of contingent consideration (5,000)    
Proceeds from issuance of convertible senior notes, net of issuance costs 242,536    
Premiums paid for Capped Call Confirmations (13,450)    
Proceeds from secured loan agreement 30,000 50,000  
Net cash provided by financing activities 272,715 290,893 139,179
Effect of exchange rate changes on cash and cash equivalents (131)    
Net increase/(decrease) in cash and cash equivalents 117,541 45,411 (19,566)
Cash and cash equivalents at beginning of year/ period 69,485 24,074 43,640
Cash and cash equivalents at end of year/period 187,026 69,485 24,074
Supplemental disclosures of cash flow information      
Cash paid during the period for interest 2,990 $ 605 $ 1,186
Contingent consideration paid in shares 6,115    
Capital expenditures funded by capital lease borrowings $ 944