XML 25 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities      
Net loss $ (348,995) $ (284,002) $ (200,042)
Adjustments to reconcile net loss to net cash used in operating activities:      
Amortization of debt discount and deferred financing 10,976 9,703 2,689
Depreciation 4,216 3,593 3,242
Stock-based compensation 29,260 23,101 17,504
Restructuring charges 0 0 69
Change in fair value of derivatives 2,739 (265) 265
Non-cash changes in the fair value of contingent consideration payable 3,300 (234,322) 6,760
Charges to research expense for stock issued in asset acquisition 0 0 4,607
Loss on extinguishment of debt 0 0 13,302
Foreign currency remeasurement (gain) loss 3,217 (5,620) 3,660
Non-cash deferred taxes 0 (167,305) (3,742)
(Gain) loss on disposal of assets 59 (8) 17
Loss on impairment 0 465,427 0
Changes in operating assets and liabilities:      
Accounts receivable (13,294) (7,725) (1,419)
Inventories (4,205) (897) (3,651)
Prepaid expenses and other current assets 2,488 (15,329) (394)
Other non-current assets (1,039) (729) (970)
Account payable and accrued expenses 17,115 12,563 7,131
Non-current liabilities 458 720 825
Deferred reimbursements (6,250) (12,600) 0
Net cash used in operating activities (299,955) (213,695) (150,147)
Investing activities      
Sale and redemption of marketable securities 463,502 323,753 221,374
Purchases of marketable securities (578,394) (490,468) (219,932)
Capital expenditures (6,308) (4,526) (5,951)
Net cash used in investing activities (121,200) (171,241) (4,509)
Financing activities      
Proceeds from issuance of common stock and warrants, net of issuance costs 294,584 243,037 97,068
Payments of secured loan agreement 0 0 (80,000)
Payment of capital leases (334) (308) (193)
Purchase of vested restricted stock units (2,832) (1,596) (1,282)
Proceeds from exercise of stock options 9,144 16,301 3,036
Proceeds from exercise of warrants 3,617 0 0
Payment of contingent consideration in cash 0 (10,000) (5,000)
Proceeds from issuance of convertible notes, net of issuance costs 0 0 242,536
Premiums paid for Capped Call Confirmations 0 0 (13,450)
Proceeds from loan agreements, net of issuance costs 146,596 0 30,000
Net cash provided by financing activities 450,775 247,434 272,715
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1,518 1,326 (131)
Net increase (decrease) in cash and cash equivalents and restricted cash 31,138 (136,176) 117,928
Cash and cash equivalents and restricted cash at beginning of year/period 51,237 187,413 69,485
Cash and cash equivalents and restricted cash at end of year/period 82,375 51,237 187,413
Supplemental disclosures of cash flow information      
Cash paid during the period for interest 7,500 7,424 2,990
Contingent consideration paid in shares 0 0 6,115
Capital expenditures unpaid at the end of period 106 0 0
Capital expenditures funded by capital lease borrowings $ 208 $ 0 $ 944