XML 23 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities      
Net loss $ (284,002) $ (200,042) $ (132,118)
Adjustments to reconcile net loss to net cash used in operating activities:      
Non-cash interest expense 9,703 2,689 492
Depreciation 3,593 3,242 1,833
Stock-based compensation 23,101 17,504 9,972
Restructuring charges   69 15
Change in fair value of derivative liability (265) 265  
Non-cash changes in the fair value of contingent consideration payable (234,322) 6,760 4,377
Charges to research expense for stock issued in asset acquisition   4,607  
Loss on extinguishment of debt   13,302 952
Foreign currency remeasurement (gain) loss (5,620) 3,660  
Non-cash deferred taxes and other tax benefits (167,305) (3,742)  
(Gain) Loss on disposal of assets (8) 17  
Impairment of IPR&D 465,427    
Changes in operating assets and liabilities:      
Accounts receivable (7,725) (1,419)  
Inventories (897) (3,651)  
Prepaid expenses and other current assets (15,329) (394) 308
Other non-current assets (2,519) (1,357) (666)
Account payable and accrued expenses 12,563 7,131 15,467
Non-current liabilities 720 825 93
Deferred reimbursements (12,600)   (864)
Net cash used in operating activities (215,485) (150,534) (100,139)
Investing activities      
Sale and redemption of marketable securities 323,753 221,374 290,129
Purchases of marketable securities (490,468) (219,932) (289,595)
Acquisitions, net of cash acquired     (141,060)
Purchases of property and equipment (4,526) (5,951) (4,817)
Net cash used in investing activities (171,241) (4,509) (145,343)
Financing activities      
Proceeds from issuance of common stock and warrants, net of issuance costs 243,037 97,068 243,042
Payments of secured loan agreement   (80,000) (15,291)
Payment of capital leases (308) (193)  
Purchase of vested restricted stock units (1,596) (1,282) (2,044)
Proceeds from exercise of stock options 16,301 3,036 11,186
Proceeds from exercise of warrants     4,000
Payment of contingent consideration (10,000) (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 247,434 272,715 290,893
Effect of exchange rate changes on cash and cash equivalents 1,326 (131)  
Net (decrease)/increase in cash and cash equivalents (137,966) 117,541 45,411
Cash and cash equivalents at beginning of year/ period 187,026 69,485 24,074
Cash and cash equivalents at end of year/period 49,060 187,026 69,485
Supplemental disclosures of cash flow information      
Cash paid during the period for interest $ 7,424 2,990 $ 605
Contingent consideration paid in shares   6,115  
Capital expenditures funded by capital lease borrowings   $ 944