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Balance Sheet Components (Tables)
6 Months Ended
Jun. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]  
Schedule of Cash and Cash Equivalents

Cash and cash equivalents consisted of the following (in thousands):

 

 

 

June 30, 2019

 

 

December 31, 2018

 

Cash

 

$

40,783

 

 

$

38,783

 

US treasury notes and bills

 

 

 

 

 

49,934

 

Money market funds

 

 

33,804

 

 

 

541

 

Total cash and cash equivalents

 

$

74,587

 

 

$

89,258

 

 

Summary of Amortized Cost, Gross Unrealized Holding Gains or Losses, and Fair Value of Available-for-Sale Investments

The Company’s investments consist of available-for-sale debt investments, marketable equity investments, a term deposit and a certificate of deposit. The amortized cost, gross unrealized holding gains or losses, and fair value of the Company’s available-for-sale investments by major investments type are summarized in the tables below (in thousands):

 

 

 

June 30, 2019

 

 

 

Amortized Cost

 

 

Gross Unrealized

Holding Gains

 

 

Gross Unrealized

Holding Losses

 

 

Fair Value

 

US treasury notes and bills

 

$

475,126

 

 

$

1,028

 

 

$

 

 

$

476,154

 

Term deposit

 

 

80,000

 

 

 

 

 

 

 

 

 

80,000

 

Certificates of deposit

 

 

30,000

 

 

 

21

 

 

 

 

 

 

30,021

 

Bond and mutual funds

 

 

10,602

 

 

 

75

 

 

 

 

 

 

10,677

 

Equity investments

 

 

125

 

 

 

112

 

 

 

 

 

 

237

 

Total investments

 

$

595,853

 

 

$

1,236

 

 

$

 

 

$

597,089

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018

 

 

 

Amortized Cost

 

 

Gross Unrealized

Holding Gains

 

 

Gross Unrealized

Holding Losses

 

 

Fair Value

 

US treasury notes and bills

 

$

467,296

 

 

$

109

 

 

$

(69

)

 

$

467,336

 

Term deposit

 

 

80,000

 

 

 

 

 

 

 

 

 

80,000

 

Certificates of deposit

 

 

30,000

 

 

 

 

 

 

(90

)

 

 

29,910

 

Bond and mutual funds

 

 

10,464

 

 

 

20

 

 

 

 

 

 

10,484

 

Equity investments

 

 

125

 

 

 

109

 

 

 

 

 

 

234

 

Total investments

 

$

587,885

 

 

$

238

 

 

$

(159

)

 

$

587,964

 

Schedule of Inventory

Inventories consisted of the following (in thousands):

 

 

 

June 30, 2019

 

Raw materials

 

$

797

 

Work-in-progress

 

 

1,035

 

Finished goods

 

 

149

 

Total inventories

 

$

1,981

 

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):

 

 

 

June 30, 2019

 

 

December 31, 2018

 

Unbilled contract assets

 

$

180,000

 

 

$

 

Deferred revenues from associated contracts

 

 

(52,019

)

 

 

 

Net unbilled contract assets

 

 

127,981

 

 

 

 

Prepaid assets

 

 

4,716

 

 

 

2,705

 

Other current assets

 

 

3,899

 

 

 

2,224

 

Total prepaid expenses and other current assets

 

$

136,596

 

 

$

4,929

 

Schedule of Property and Equipment

Property and equipment consisted of the following (in thousands):

 

 

 

June 30, 2019

 

 

December 31, 2018

 

Leasehold improvements

 

$

101,250

 

 

$

101,200

 

Building shell

 

 

 

 

 

53,880

 

Laboratory equipment

 

 

16,754

 

 

 

16,405

 

Machinery

 

 

8,461

 

 

 

8,382

 

Computer equipment

 

 

6,655

 

 

 

6,473

 

Furniture and fixtures

 

 

5,778

 

 

 

5,690

 

Construction in progress

 

 

1,888

 

 

 

367

 

Total property and equipment

 

$

140,786

 

 

$

192,397

 

Less: accumulated depreciation

 

 

(95,921

)

 

 

(65,199

)

Property and equipment, net

 

$

44,865

 

 

$

127,198

 

Schedule of Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):

 

 

 

June 30, 2019

 

 

December 31, 2018

 

Preclinical and clinical trial accruals

 

$

41,104

 

 

$

35,413

 

Payroll and related accruals

 

 

14,001

 

 

 

21,430

 

Property taxes and other

 

 

1,778

 

 

 

1,095

 

Professional services

 

 

3,588

 

 

 

2,648

 

Other

 

 

6,074

 

 

 

5,537

 

Total accrued liabilities

 

$

66,545

 

 

$

66,123