CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands |
3 Months Ended |
Mar. 31, 2020 |
Mar. 31, 2019 |
| Cash flows from operating activities: |
|
|
| Net loss |
$ 48,486
|
$ 32,581
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Stock-based compensation expense |
8,488
|
9,478
|
| Depreciation and amortization expense |
1,789
|
661
|
| Accretion of discount on investments |
(29)
|
(489)
|
| Non-cash interest expense |
87
|
21
|
| Changes in operating assets and liabilities: |
|
|
| Prepaid expenses and other current assets |
914
|
2,695
|
| Operating lease, right-of-use-asset |
1,579
|
509
|
| Accounts payable |
905
|
(966)
|
| Accrued expenses and other current liabilities |
(3,954)
|
(2,487)
|
| Operating lease liabilities |
(1,308)
|
287
|
| Net cash used in operating activities |
(40,015)
|
(22,872)
|
| Cash flows from investing activities: |
|
|
| Purchases of property, plant and equipment |
(2,851)
|
(4,164)
|
| Purchases of investments |
(10,001)
|
(117,983)
|
| Sales and maturities of investments |
105,000
|
29,155
|
| Net cash provided by (used in) investing activities |
92,148
|
(92,992)
|
| Cash flows from financing activities: |
|
|
| Proceeds from issuance of common stock upon exercise of stock options |
486
|
799
|
| Net cash provided by financing activities |
486
|
799
|
| Net increase (decrease) in cash, cash equivalents and restricted cash |
52,619
|
(115,065)
|
| Cash, cash equivalents and restricted cash at beginning of period |
93,633
|
309,421
|
| Cash, cash equivalents and restricted cash at end of period |
146,252
|
194,356
|
| Supplemental cash flow information: |
|
|
| Cash paid for interest, net of interest capitalized |
895
|
336
|
| Cash paid for leases |
2,147
|
177
|
| Supplemental disclosure of non-cash investing and financing information: |
|
|
| Lease assets obtained in exchange for new operating lease liabilities |
|
27,944
|
| Lease asset derecognized upon lease cancellation |
982
|
|
| Purchases of property, plant and equipment included in accounts payable or accrued expenses |
$ 923
|
$ 4,630
|