Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities      
Net loss $ (130,092,000) $ (137,165,000) $ (95,514,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 6,627,000 7,172,000 7,188,000
Amortization 967,000 838,000 622,000
Share-based compensation expense 10,414,000 11,053,000 16,202,000
Unrealized foreign exchange (gains) losses (1,333,000) 1,076,000 9,747,000
Amortization (accretion) on available-for-sale debt securities (3,836,000) 185,000 (237,000)
Other (55,000) (13,000) 2,473,000
Changes in operating assets and liabilities:      
Decrease (increase) in receivables and other operating assets 1,747,000 (1,436,000) (5,162,000)
Decrease (increase) in non-current operating assets 2,458,000 (1,450,000) 742,000
Increase (decrease) in payables and other current liabilities 3,867,000 5,508,000 (2,702,000)
Increase (decrease) in deferred revenue 47,973,000 2,095,000 (38,221,000)
Net cash used in operating activities (53,591,000) (112,507,000) (104,388,000)
Cash flows from investing activities      
Acquisition of property, plant and equipment (2,341,000) (1,592,000) (3,910,000)
Acquisition of intangibles (565,000) (1,482,000) (798,000)
Maturity or redemption of marketable securities 105,022,000 125,303,000 138,038,000
Investment in marketable securities (381,040,000) (27,284,000) (150,787,000)
Net cash (used in) provided by investing activities (278,924,000) 94,945,000 (17,457,000)
Cash flows from financing activities      
Proceeds from issuance of common stock, net of issuance costs     99,653,000
Proceeds from exercise of stock options 5,663,000 366,000 3,037,000
Net cash provided by financing activities 340,051,000 366,000 102,690,000
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash (960,000) (372,000) 3,335,000
Net increase (decrease) in cash, cash equivalents and restricted cash 6,576,000 (17,568,000) (15,820,000)
Cash, cash equivalents and restricted cash at start of period 54,908,000 72,476,000 88,296,000
Cash, cash equivalents and restricted cash at end of period 61,484,000 54,908,000 72,476,000
Supplemental cash flow information      
Interest received 6,216,000 3,426,000 3,114,000
Income taxes paid 75,000 $ 201,000 $ 258,000
January Offering      
Cash flows from financing activities      
Proceeds from issuance of common stock, net of issuance costs 78,616,000    
June Offering      
Cash flows from financing activities      
Proceeds from issuance of common stock, net of issuance costs 209,986,000    
Over Allotment January      
Cash flows from financing activities      
Proceeds from issuance of common stock, net of issuance costs 11,938,000    
Over Allotment June      
Cash flows from financing activities      
Proceeds from issuance of common stock, net of issuance costs $ 33,848,000