Delaware
|
84-1460811
|
(State or Other Jurisdiction of Incorporation or Organization)
|
(I.R.S. Employer Identification No.)
|
|
|
3200 Walnut Street, Boulder, CO
|
80301
|
(Address of Principal Executive Offices)
|
(Zip Code)
|
|
|
(303) 381-6600
|
|
(Registrant’s Telephone Number, Including Area Code)
|
Large Accelerated Filer
x
|
Accelerated Filer
¨
|
Non-Accelerated Filer
¨
|
Smaller Reporting Company
¨
|
|
Emerging Growth Company
¨
|
|
|
|
|
|
Page No.
|
|
||
Condensed Consolidated
Financial Statements
|
|
|
|
Condensed Consolidated
Balance Sheets as of
December 31, 2018 and
June 30, 2018 (unaudited)
|
|
|
Condensed Consolidated Statements of Operations and Comprehensive Loss for the
three and six months ended December 31, 2018 and 2017 (unaudited)
|
|
|
Condensed Consolidated Statement of Stockholders' Equity for the three and six
months ended December 31, 2018 and 2017 (unaudited)
|
|
|
Condensed Consolidated
Statements of Cash Flows for the
six months ended
December 31, 2018 and 2017 (unaudited)
|
|
|
Notes to the Unaudited Condensed
Consolidated
Financial Statements
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
||
|
|
|
December 31,
|
|
June 30,
|
||||
|
2018
|
|
2018
|
||||
Assets
|
|
|
|
||||
Current assets
|
|
|
|
||||
Cash and cash equivalents
|
$
|
147,094
|
|
|
$
|
114,748
|
|
Marketable securities
|
329,964
|
|
|
297,739
|
|
||
Accounts receivable
|
22,245
|
|
|
32,084
|
|
||
Prepaid expenses and other current assets
|
31,537
|
|
|
6,972
|
|
||
Total current assets
|
530,840
|
|
|
451,543
|
|
||
|
|
|
|
||||
Non-current assets
|
|
|
|
||||
Marketable securities
|
1,095
|
|
|
919
|
|
||
Property and equipment, net
|
6,902
|
|
|
7,128
|
|
||
Other non-current assets
|
10,125
|
|
|
774
|
|
||
Total non-current assets
|
18,122
|
|
|
8,821
|
|
||
Total assets
|
$
|
548,962
|
|
|
$
|
460,364
|
|
|
|
|
|
||||
Liabilities and Stockholders' Equity
|
|
|
|
||||
Current liabilities
|
|
|
|
||||
Accounts payable
|
$
|
10,420
|
|
|
$
|
14,059
|
|
Accrued outsourcing costs
|
41,535
|
|
|
31,853
|
|
||
Accrued compensation and benefits
|
14,105
|
|
|
16,695
|
|
||
Other accrued expenses
|
4,639
|
|
|
1,868
|
|
||
Deferred rent
|
725
|
|
|
707
|
|
||
Notes payable at fair value
|
—
|
|
|
15,899
|
|
||
Deferred revenue
|
12,761
|
|
|
12,350
|
|
||
Current portion of long-term debt
|
—
|
|
|
2,500
|
|
||
Total current liabilities
|
84,185
|
|
|
95,931
|
|
||
|
|
|
|
||||
Non-current liabilities
|
|
|
|
||||
Deferred rent
|
5,252
|
|
|
5,598
|
|
||
Deferred revenue
|
40,231
|
|
|
44,470
|
|
||
Long-term debt, net
|
132,654
|
|
|
93,376
|
|
||
Other non-current liabilities
|
1,289
|
|
|
1,246
|
|
||
Total non-current liabilities
|
179,426
|
|
|
144,690
|
|
||
Total liabilities
|
263,611
|
|
|
240,621
|
|
||
|
|
|
|
||||
Commitments and contingencies
|
|
|
|
||||
|
|
|
|
||||
Stockholders' equity
|
|
|
|
||||
Preferred stock, $0.001 par value; 10,000,000 shares authorized, no shares issued and outstanding
|
—
|
|
|
—
|
|
||
Common stock, $0.001 par value; 340,000,000 and 280,000,000 shares authorized as of December 31, 2018 and June 30, 2018, respectively, 217,860,411 and 211,289,922 shares issued and outstanding as of December 31, 2018 and June 30, 2018, respectively
|
218
|
|
|
211
|
|
||
Additional paid-in capital
|
1,387,422
|
|
|
1,286,000
|
|
||
Accumulated other comprehensive loss
|
(109
|
)
|
|
(461
|
)
|
||
Accumulated deficit
|
(1,102,180
|
)
|
|
(1,066,007
|
)
|
||
Total stockholders' equity
|
285,351
|
|
|
219,743
|
|
||
Total liabilities and stockholders' equity
|
$
|
548,962
|
|
|
$
|
460,364
|
|
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
December 31,
|
|
December 31,
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Revenue
|
|
|
|
|
|
|
|
||||||||
Product sales, net
|
$
|
22,713
|
|
|
$
|
—
|
|
|
$
|
36,706
|
|
|
$
|
—
|
|
Collaboration and license revenue
|
50,924
|
|
|
19,823
|
|
|
81,952
|
|
|
31,377
|
|
||||
Reimbursement revenue
|
8,912
|
|
|
22,395
|
|
|
20,801
|
|
|
40,587
|
|
||||
Total revenue
|
82,549
|
|
|
42,218
|
|
|
139,459
|
|
|
71,964
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Operating expenses
|
|
|
|
|
|
|
|
||||||||
Cost of goods sold
|
786
|
|
|
—
|
|
|
981
|
|
|
—
|
|
||||
Research and development
|
62,120
|
|
|
56,329
|
|
|
117,670
|
|
|
109,533
|
|
||||
Selling, general and administrative
|
30,473
|
|
|
11,607
|
|
|
55,363
|
|
|
23,655
|
|
||||
Total operating expenses
|
93,379
|
|
|
67,936
|
|
|
174,014
|
|
|
133,188
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Loss from operations
|
(10,830
|
)
|
|
(25,718
|
)
|
|
(34,555
|
)
|
|
(61,224
|
)
|
||||
|
|
|
|
|
|
|
|
||||||||
Other income (expense)
|
|
|
|
|
|
|
|
||||||||
Loss on extinguishment and conversion of Notes
|
—
|
|
|
(6,457
|
)
|
|
—
|
|
|
(6,457
|
)
|
||||
Realized gain on investments
|
—
|
|
|
—
|
|
|
35
|
|
|
—
|
|
||||
Change in fair value of notes payable
|
—
|
|
|
(300
|
)
|
|
(65
|
)
|
|
(100
|
)
|
||||
Interest income
|
2,286
|
|
|
1,255
|
|
|
3,810
|
|
|
1,780
|
|
||||
Interest expense
|
(2,818
|
)
|
|
(2,833
|
)
|
|
(5,398
|
)
|
|
(6,046
|
)
|
||||
Total other income (expense), net
|
(532
|
)
|
|
(8,335
|
)
|
|
(1,618
|
)
|
|
(10,823
|
)
|
||||
|
|
|
|
|
|
|
|
||||||||
Net loss
|
$
|
(11,362
|
)
|
|
$
|
(34,053
|
)
|
|
$
|
(36,173
|
)
|
|
$
|
(72,047
|
)
|
|
|
|
|
|
|
|
|
||||||||
Change in unrealized gain (loss) on marketable securities
|
203
|
|
|
(634
|
)
|
|
352
|
|
|
(600
|
)
|
||||
|
|
|
|
|
|
|
|
||||||||
Comprehensive loss
|
$
|
(11,159
|
)
|
|
$
|
(34,687
|
)
|
|
$
|
(35,821
|
)
|
|
$
|
(72,647
|
)
|
|
|
|
|
|
|
|
|
||||||||
Weighted average shares outstanding – basic
|
215,872
|
|
|
199,852
|
|
|
214,032
|
|
|
187,312
|
|
||||
Weighted average shares outstanding – diluted
|
215,872
|
|
|
199,852
|
|
|
214,032
|
|
|
187,312
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Net loss per share – basic
|
$
|
(0.05
|
)
|
|
$
|
(0.17
|
)
|
|
$
|
(0.17
|
)
|
|
$
|
(0.38
|
)
|
Net loss per share – diluted
|
$
|
(0.05
|
)
|
|
$
|
(0.17
|
)
|
|
$
|
(0.17
|
)
|
|
$
|
(0.38
|
)
|
|
|
|
|
|
|
|
|
||||||||
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
|
Three months ended December 31, 2018
|
|||||||||||||||||||||||
|
|
|
|
|
|
Additional Paid-in Capital
|
|
Accumulated Other Comprehensive Loss
|
|
Accumulated Deficit
|
|
Total
|
|||||||||||
|
|
Common Stock
|
|
|
|
|
|||||||||||||||||
|
|
Shares
|
|
Amounts
|
|
|
|
|
|||||||||||||||
Balance as of September 30, 2018
|
|
213,027
|
|
|
$
|
213
|
|
|
$
|
1,309,985
|
|
|
$
|
(312
|
)
|
|
$
|
(1,090,818
|
)
|
|
$
|
219,068
|
|
Shares issued for cash under employee share plans
|
|
414
|
|
|
1
|
|
|
63
|
|
|
—
|
|
|
—
|
|
|
64
|
|
|||||
Share-based compensation expense
|
|
—
|
|
|
—
|
|
|
5,530
|
|
|
—
|
|
|
—
|
|
|
5,530
|
|
|||||
Issuance of common stock, net of offering costs / At-the-market offering
|
|
4,419
|
|
|
4
|
|
|
71,844
|
|
|
—
|
|
|
—
|
|
|
71,848
|
|
|||||
Change in unrealized loss on marketable securities
|
|
—
|
|
|
—
|
|
|
—
|
|
|
203
|
|
|
—
|
|
|
203
|
|
|||||
Net loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(11,362
|
)
|
|
(11,362
|
)
|
|||||
Balance as of December 31, 2018
|
|
217,860
|
|
|
$
|
218
|
|
|
$
|
1,387,422
|
|
|
$
|
(109
|
)
|
|
$
|
(1,102,180
|
)
|
|
$
|
285,351
|
|
|
|||||||||||||||||||||||
Six months ended December 31, 2018
|
|||||||||||||||||||||||
|
|
|
|
|
|
Additional Paid-in Capital
|
|
Accumulated Other Comprehensive Loss
|
|
Accumulated Deficit
|
|
Total
|
|||||||||||
|
|
Common Stock
|
|
|
|
|
|||||||||||||||||
|
|
Shares
|
|
Amounts
|
|
|
|
|
|||||||||||||||
Balance as of June 30, 2018
|
|
211,290
|
|
|
$
|
211
|
|
|
$
|
1,286,000
|
|
|
$
|
(461
|
)
|
|
$
|
(1,066,007
|
)
|
|
$
|
219,743
|
|
Shares issued for cash under employee share plans
|
|
917
|
|
|
2
|
|
|
2,318
|
|
|
—
|
|
|
—
|
|
|
2,320
|
|
|||||
Share-based compensation expense
|
|
—
|
|
|
—
|
|
|
10,342
|
|
|
—
|
|
|
—
|
|
|
10,342
|
|
|||||
Issuance of common stock, net of offering costs / At-the-market offering
|
|
5,653
|
|
|
5
|
|
|
88,762
|
|
|
—
|
|
|
—
|
|
|
88,767
|
|
|||||
Change in unrealized loss on marketable securities
|
|
—
|
|
|
—
|
|
|
—
|
|
|
352
|
|
|
—
|
|
|
352
|
|
|||||
Net loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(36,173
|
)
|
|
(36,173
|
)
|
|||||
Balance as of December 31, 2018
|
|
217,860
|
|
|
$
|
218
|
|
|
$
|
1,387,422
|
|
|
$
|
(109
|
)
|
|
$
|
(1,102,180
|
)
|
|
$
|
285,351
|
|
|
|||||||||||||||||||||||
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
|
Three Months Ended December 31, 2017
|
|||||||||||||||||||||||
|
|
|
|
|
|
Additional Paid-in Capital
|
|
Accumulated Other Comprehensive Loss
|
|
Accumulated Deficit
|
|
Total
|
|||||||||||
|
|
Common Stock
|
|
|
|
|
|||||||||||||||||
|
|
Shares
|
|
Amounts
|
|
|
|
|
|||||||||||||||
Balance as of September 30, 2017
|
|
196,126
|
|
|
$
|
196
|
|
|
$
|
1,183,122
|
|
|
$
|
(42
|
)
|
|
$
|
(956,655
|
)
|
|
$
|
226,621
|
|
Shares issued for cash under employee share plans
|
|
2,463
|
|
|
2
|
|
|
13,178
|
|
|
—
|
|
|
—
|
|
|
13,180
|
|
|||||
Share-based compensation expense
|
|
—
|
|
|
—
|
|
|
3,236
|
|
|
—
|
|
|
—
|
|
|
3,236
|
|
|||||
Extinguishment of 2020 Notes
|
|
7,956
|
|
|
8
|
|
|
(15,705
|
)
|
|
—
|
|
|
—
|
|
|
(15,697
|
)
|
|||||
Conversion of 2020 Notes
|
|
913
|
|
|
1
|
|
|
5,418
|
|
|
—
|
|
|
—
|
|
|
5,419
|
|
|||||
Issuance of 2024 Notes
|
|
—
|
|
|
—
|
|
|
44,110
|
|
|
—
|
|
|
—
|
|
|
44,110
|
|
|||||
Change in unrealized loss on marketable securities
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(634
|
)
|
|
—
|
|
|
(634
|
)
|
|||||
Net loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(34,053
|
)
|
|
(34,053
|
)
|
|||||
Balance as of December 31, 2017
|
|
207,458
|
|
|
$
|
207
|
|
|
$
|
1,233,359
|
|
|
$
|
(676
|
)
|
|
$
|
(990,708
|
)
|
|
$
|
242,182
|
|
|
|||||||||||||||||||||||
Six Months Ended December 31, 2017
|
|||||||||||||||||||||||
|
|
|
|
|
|
Additional Paid-in Capital
|
|
Accumulated Other Comprehensive Loss
|
|
Accumulated Deficit
|
|
Total
|
|||||||||||
|
|
Common Stock
|
|
|
|
|
|||||||||||||||||
|
|
Shares
|
|
Amounts
|
|
|
|
|
|||||||||||||||
Balance as of June 30, 2017
|
|
171,308
|
|
|
$
|
171
|
|
|
$
|
930,293
|
|
|
$
|
(76
|
)
|
|
$
|
(918,661
|
)
|
|
$
|
11,727
|
|
Shares issued for cash under employee share plans
|
|
2,887
|
|
|
2
|
|
|
14,601
|
|
|
—
|
|
|
—
|
|
|
14,603
|
|
|||||
Share-based compensation expense
|
|
—
|
|
|
—
|
|
|
8,819
|
|
|
—
|
|
|
—
|
|
|
8,819
|
|
|||||
Issuance of common stock, net of offering costs / At-the-market offering
|
|
324
|
|
|
1
|
|
|
2,829
|
|
|
—
|
|
|
—
|
|
|
2,830
|
|
|||||
Issuance of common stock, net of offering costs / Public offering
|
|
24,070
|
|
|
24
|
|
|
242,994
|
|
|
—
|
|
|
—
|
|
|
243,018
|
|
|||||
Extinguishment of 2020 Notes
|
|
7,956
|
|
|
8
|
|
|
(15,705
|
)
|
|
—
|
|
|
—
|
|
|
(15,697
|
)
|
|||||
Conversion of 2020 Notes
|
|
913
|
|
|
1
|
|
|
5,418
|
|
|
—
|
|
|
—
|
|
|
5,419
|
|
|||||
Issuance of 2024 Notes
|
|
—
|
|
|
—
|
|
|
44,110
|
|
|
—
|
|
|
—
|
|
|
44,110
|
|
|||||
Change in unrealized loss on marketable securities
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(600
|
)
|
|
—
|
|
|
(600
|
)
|
|||||
Net loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(72,047
|
)
|
|
(72,047
|
)
|
|||||
Balance as of December 31, 2017
|
|
207,458
|
|
|
$
|
207
|
|
|
$
|
1,233,359
|
|
|
$
|
(676
|
)
|
|
$
|
(990,708
|
)
|
|
$
|
242,182
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
|
|
Six Months Ended
|
||||||
|
December 31,
|
||||||
|
2018
|
|
2017
|
||||
Cash flows from operating activities
|
|
|
|
||||
Net loss
|
$
|
(36,173
|
)
|
|
$
|
(72,047
|
)
|
Adjustments to reconcile net loss to net cash used in operating activities:
|
|
|
|
||||
Depreciation and amortization expense
|
1,069
|
|
|
1,138
|
|
||
Non-cash interest expense
|
3,002
|
|
|
3,640
|
|
||
Share-based compensation expense
|
10,342
|
|
|
8,819
|
|
||
Loss on extinguishment and conversion of Notes
|
—
|
|
|
6,457
|
|
||
Realized gain from investments, net
|
(35
|
)
|
|
—
|
|
||
Change in fair value of notes payable
|
65
|
|
|
100
|
|
||
Changes in operating assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
9,839
|
|
|
1,309
|
|
||
Prepaid expenses and other assets
|
(33,916
|
)
|
|
(673
|
)
|
||
Accounts payable and other accrued expenses
|
(1,832
|
)
|
|
2,539
|
|
||
Accrued outsourcing costs
|
9,682
|
|
|
(4,087
|
)
|
||
Accrued compensation and benefits
|
(1,457
|
)
|
|
(3,400
|
)
|
||
Deferred rent
|
(328
|
)
|
|
99
|
|
||
Deferred revenue
|
(3,828
|
)
|
|
(14,241
|
)
|
||
Other non-current liabilities
|
132
|
|
|
171
|
|
||
Net cash used in operating activities
|
(43,438
|
)
|
|
(70,176
|
)
|
||
|
|
|
|
||||
Cash flows from investing activities
|
|
|
|
||||
Purchases of property and equipment
|
(843
|
)
|
|
(212
|
)
|
||
Proceeds from investment
|
35
|
|
|
—
|
|
||
Purchases of marketable securities
|
(234,099
|
)
|
|
(338,060
|
)
|
||
Proceeds from sales and maturities of marketable securities
|
201,961
|
|
|
91,421
|
|
||
Net cash used in investing activities
|
(32,946
|
)
|
|
(246,851
|
)
|
||
|
|
|
|
||||
Cash flows from financing activities
|
|
|
|
||||
Proceeds from issuance of common stock / Public offering
|
—
|
|
|
258,750
|
|
||
Offering costs for issuance of common stock / Public offering
|
—
|
|
|
(15,732
|
)
|
||
Proceeds from issuance of common stock / At-the-market offering
|
90,629
|
|
|
2,917
|
|
||
Offering costs for the issuance of common stock / At-the-market offering
|
(1,862
|
)
|
|
(87
|
)
|
||
Net proceeds from employee stock purchases and options exercised
|
1,187
|
|
|
14,603
|
|
||
Payment of note payable
|
(15,000
|
)
|
|
—
|
|
||
Proceeds from the modification of long-term debt, net
|
33,776
|
|
|
—
|
|
||
Payment for debt issuance costs
|
—
|
|
|
(4,306
|
)
|
||
Net cash provided by financing activities
|
108,730
|
|
|
256,145
|
|
||
|
|
|
|
||||
Net increase in cash and cash equivalents
|
32,346
|
|
|
(60,882
|
)
|
||
Cash and cash equivalents at beginning of period
|
114,748
|
|
|
125,933
|
|
||
Cash and cash equivalents at end of period
|
$
|
147,094
|
|
|
$
|
65,051
|
|
|
|
|
|
||||
Supplemental disclosure of cash flow information
|
|
|
|
||||
Cash paid for interest
|
$
|
3,213
|
|
|
$
|
2,161
|
|
Change in unrealized loss on marketable securities
|
$
|
352
|
|
|
$
|
(600
|
)
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||
|
December 31,
|
|
December 31,
|
||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||
Loxo Oncology
|
48.5
|
%
|
|
5.7
|
%
|
|
33.3
|
%
|
|
8.0
|
%
|
Pierre Fabre
|
7.9
|
%
|
|
10.5
|
%
|
|
20.3
|
%
|
|
11.8
|
%
|
Novartis Pharmaceutical
|
10.8
|
%
|
|
53.1
|
%
|
|
14.9
|
%
|
|
56.4
|
%
|
Asahi Kasei
|
—
|
%
|
|
23.0
|
%
|
|
—
|
%
|
|
14.9
|
%
|
Total
|
67.2
|
%
|
|
92.3
|
%
|
|
68.5
|
%
|
|
91.1
|
%
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
December 31,
|
|
December 31,
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
North America
|
$
|
65,945
|
|
|
$
|
4,662
|
|
|
$
|
88,225
|
|
|
$
|
10,163
|
|
Europe
|
15,446
|
|
|
26,852
|
|
|
49,135
|
|
|
49,148
|
|
||||
Asia Pacific
|
1,158
|
|
|
10,704
|
|
|
2,099
|
|
|
12,653
|
|
||||
Total
|
$
|
82,549
|
|
|
$
|
42,218
|
|
|
$
|
139,459
|
|
|
$
|
71,964
|
|
|
December 31, 2018
|
||||||||||||||
|
|
|
Gross
|
|
Gross
|
|
|
||||||||
|
Amortized
|
|
Unrealized
|
|
Unrealized
|
|
Fair
|
||||||||
|
Cost
|
|
Gains
|
|
Losses
|
|
Value
|
||||||||
Short-term available-for-sale securities:
|
|
|
|
|
|
|
|
||||||||
U.S. treasury securities
|
$
|
198,762
|
|
|
$
|
—
|
|
|
$
|
(98
|
)
|
|
$
|
198,664
|
|
Commercial paper
|
101,533
|
|
|
—
|
|
|
—
|
|
|
101,533
|
|
||||
Corporate bonds
|
19,913
|
|
|
—
|
|
|
(16
|
)
|
|
19,897
|
|
||||
Asset-backed securities
|
9,648
|
|
|
5
|
|
|
—
|
|
|
9,653
|
|
||||
Mutual fund securities
|
217
|
|
|
—
|
|
|
—
|
|
|
217
|
|
||||
|
330,073
|
|
|
5
|
|
|
(114
|
)
|
|
329,964
|
|
||||
Long-term available-for-sale securities:
|
|
|
|
|
|
|
|
||||||||
Mutual fund securities
|
1,095
|
|
|
—
|
|
|
—
|
|
|
1,095
|
|
||||
|
1,095
|
|
|
—
|
|
|
—
|
|
|
1,095
|
|
||||
Total
|
$
|
331,168
|
|
|
$
|
5
|
|
|
$
|
(114
|
)
|
|
$
|
331,059
|
|
|
June 30, 2018
|
||||||||||||||
|
|
|
Gross
|
|
Gross
|
|
|
||||||||
|
Amortized
|
|
Unrealized
|
|
Unrealized
|
|
Fair
|
||||||||
|
Cost
|
|
Gains
|
|
Losses
|
|
Value
|
||||||||
Short-term available-for-sale securities:
|
|
|
|
|
|
|
|
||||||||
U.S. treasury securities
|
$
|
297,965
|
|
|
$
|
—
|
|
|
$
|
(461
|
)
|
|
$
|
297,504
|
|
Mutual fund securities
|
235
|
|
|
—
|
|
|
—
|
|
|
235
|
|
||||
|
298,200
|
|
|
—
|
|
|
(461
|
)
|
|
297,739
|
|
||||
Long-term available-for-sale securities:
|
|
|
|
|
|
|
|
||||||||
Mutual fund securities
|
919
|
|
|
—
|
|
|
—
|
|
|
919
|
|
||||
|
919
|
|
|
—
|
|
|
—
|
|
|
919
|
|
||||
Total
|
$
|
299,119
|
|
|
$
|
—
|
|
|
$
|
(461
|
)
|
|
$
|
298,658
|
|
|
Amortized
|
|
Fair
|
||||
|
Cost
|
|
Value
|
||||
Due in one year or less
|
$
|
329,856
|
|
|
$
|
329,747
|
|
|
|
Three Months Ended December 31, 2018
|
|
Six Months Ended December 31, 2018
|
||||
BRAFTOVI
|
|
$
|
11,371
|
|
|
$
|
18,386
|
|
MEKTOVI
|
|
11,342
|
|
|
18,320
|
|
||
Total net product sales
|
|
$
|
22,713
|
|
|
$
|
36,706
|
|
|
|
Returns
|
Other
|
Total
|
||||||
Balance as of June 30, 2018
|
|
$
|
—
|
|
$
|
—
|
|
$
|
—
|
|
Allowances for sales during prior periods
|
|
—
|
|
—
|
|
—
|
|
|||
Allowances for sales during the current period
|
|
67
|
|
7,950
|
|
8,017
|
|
|||
Credits/deductions issued for prior year sales
|
|
—
|
|
—
|
|
—
|
|
|||
Credits/deductions issued for sales during the current period
|
|
(26
|
)
|
(5,155
|
)
|
(5,181
|
)
|
|||
Balance as of December 31, 2018
|
|
$
|
41
|
|
$
|
2,795
|
|
$
|
2,836
|
|
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
|
December 31,
|
|
December 31,
|
||||||||||||
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Collaboration and other revenue
|
|
|
|
|
|
|
|
|||||||||
Pierre Fabre
|
|
$
|
5,427
|
|
|
$
|
3,674
|
|
|
$
|
11,456
|
|
|
$
|
7,023
|
|
Loxo
|
|
—
|
|
|
2,395
|
|
|
2,403
|
|
|
4,653
|
|
||||
Mirati
|
|
1,216
|
|
|
1,422
|
|
|
2,210
|
|
|
2,811
|
|
||||
Other partners
|
|
1,806
|
|
|
1,017
|
|
|
2,490
|
|
|
2,029
|
|
||||
Total collaboration and other revenue
|
|
8,449
|
|
|
8,508
|
|
|
18,559
|
|
|
16,516
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
License and milestone revenue
|
|
|
|
|
|
|
|
|
||||||||
Loxo
|
|
40,000
|
|
|
—
|
|
|
44,000
|
|
|
1,107
|
|
||||
Pierre Fabre
|
|
1,074
|
|
|
750
|
|
|
16,824
|
|
|
1,500
|
|
||||
Ono
|
|
918
|
|
|
919
|
|
|
1,836
|
|
|
1,837
|
|
||||
Asahi Kasei
|
|
—
|
|
|
9,437
|
|
|
—
|
|
|
10,000
|
|
||||
Other partners
|
|
482
|
|
|
209
|
|
|
732
|
|
|
417
|
|
||||
Total license and milestone revenue
|
|
42,474
|
|
|
11,315
|
|
|
63,392
|
|
|
14,861
|
|
||||
Total collaboration and license revenue
|
|
$
|
50,924
|
|
|
$
|
19,823
|
|
|
$
|
81,952
|
|
|
$
|
31,377
|
|
|
|
|
|
|
|
|
|
|
||||||||
Reimbursement revenue
|
|
|
|
|
|
|
|
|
||||||||
Novartis
|
|
$
|
8,912
|
|
|
$
|
22,395
|
|
|
$
|
20,801
|
|
|
$
|
40,587
|
|
|
December 31,
|
|
June 30,
|
||||
|
2018
|
|
2018
|
||||
Ono
|
$
|
25,718
|
|
|
$
|
27,555
|
|
Pierre Fabre (1)
|
25,982
|
|
|
22,394
|
|
||
Mirati
|
1,292
|
|
|
2,468
|
|
||
Loxo
|
—
|
|
|
2,403
|
|
||
Other
|
—
|
|
|
2,000
|
|
||
Total deferred revenue
|
52,992
|
|
|
56,820
|
|
||
Less: Current portion
|
(12,761
|
)
|
|
(12,350
|
)
|
||
Deferred revenue, long-term portion
|
$
|
40,231
|
|
|
$
|
44,470
|
|
|
December 31,
|
|
June 30,
|
||||
|
2018
|
|
2018
|
||||
Notes payable at fair value
|
$
|
—
|
|
|
$
|
15,899
|
|
|
|
|
|
||||
2024 convertible senior notes
|
$
|
126,060
|
|
|
$
|
126,060
|
|
Silicon Valley Bank term loan (1)
|
53,500
|
|
|
16,200
|
|
||
Long-term debt, gross
|
179,560
|
|
|
142,260
|
|
||
Less: Unamortized debt discount and fees
|
(46,906
|
)
|
|
(46,384
|
)
|
||
Long-term debt, net
|
132,654
|
|
|
95,876
|
|
||
Less: Current portion
|
—
|
|
|
(2,500
|
)
|
||
Long-term debt, non-current portion
|
$
|
132,654
|
|
|
$
|
93,376
|
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
December 31,
|
|
December 31,
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Silicon Valley Bank Term Loan
|
|
|
|
|
|
|
|
||||||||
Simple interest
|
402
|
|
|
87
|
|
|
$
|
685
|
|
|
$
|
180
|
|
||
Amortization of prepaid fees for line of credit
|
260
|
|
|
44
|
|
|
430
|
|
|
85
|
|
||||
Amortization of debt discount
|
14
|
|
|
81
|
|
|
29
|
|
|
162
|
|
||||
Total interest expense on the Silicon Valley Bank term loan
|
676
|
|
|
212
|
|
|
1,144
|
|
|
427
|
|
||||
Convertible Senior Notes (1)
|
|
|
|
|
|
|
|
||||||||
Contractual interest
|
835
|
|
|
896
|
|
|
1,670
|
|
|
1,889
|
|
||||
Amortization of debt discount
|
1,227
|
|
|
1,512
|
|
|
2,425
|
|
|
3,291
|
|
||||
Amortization of debt issuance costs
|
74
|
|
|
87
|
|
|
147
|
|
|
187
|
|
||||
Total interest expense on convertible senior notes
|
2,136
|
|
|
2,495
|
|
|
4,242
|
|
|
5,367
|
|
||||
Other Debt
|
|
|
|
|
|
|
|
||||||||
Simple interest
|
$
|
6
|
|
|
$
|
126
|
|
|
12
|
|
|
252
|
|
||
Total interest expense on other debt
|
6
|
|
|
126
|
|
|
12
|
|
|
252
|
|
||||
Total interest expense
|
$
|
2,818
|
|
|
$
|
2,833
|
|
|
$
|
5,398
|
|
|
$
|
6,046
|
|
•
|
Level 1: Observable inputs such as unadjusted quoted prices in active markets for identical instruments.
|
•
|
Level 2: Quoted prices for similar instruments that are directly or indirectly observable in the marketplace.
|
•
|
Level 3: Significant unobservable inputs which are supported by little or no market activity and that are financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.
|
|
|
Fair Value Measurement as of December 31, 2018
|
||||||||||||||
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Assets
|
|
|
|
|
|
|
|
|
||||||||
Current Assets
|
|
|
|
|
|
|
|
|
||||||||
U.S. treasury securities
|
|
$
|
—
|
|
|
$
|
198,664
|
|
|
$
|
—
|
|
|
$
|
198,664
|
|
Commercial paper
|
|
—
|
|
|
101,533
|
|
|
—
|
|
|
101,533
|
|
||||
Corporate bonds
|
|
—
|
|
|
19,897
|
|
|
—
|
|
|
19,897
|
|
||||
Asset-backed securities
|
|
—
|
|
|
9,653
|
|
|
—
|
|
|
9,653
|
|
||||
Mutual fund securities
|
|
217
|
|
|
—
|
|
|
—
|
|
|
217
|
|
||||
Long-term Assets
|
|
|
|
|
|
|
|
|
||||||||
Mutual fund securities
|
|
1,095
|
|
|
—
|
|
|
—
|
|
|
1,095
|
|
||||
Total assets
|
|
$
|
1,312
|
|
|
$
|
329,747
|
|
|
$
|
—
|
|
|
$
|
331,059
|
|
|
|
Fair Value Measurement as of June 30, 2018
|
||||||||||||||
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Assets
|
|
|
|
|
|
|
|
|
||||||||
Current Assets
|
|
|
|
|
|
|
|
|
||||||||
U.S. treasury securities
|
|
$
|
297,504
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
297,504
|
|
Mutual fund securities
|
|
235
|
|
|
|
|
|
—
|
|
|
235
|
|
||||
Long-term Assets
|
|
|
|
|
|
|
|
|
||||||||
Mutual fund securities
|
|
919
|
|
|
—
|
|
|
—
|
|
|
919
|
|
||||
Total assets
|
|
$
|
298,658
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
298,658
|
|
|
|
|
|
|
|
|
|
|
||||||||
Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Notes payable, at fair value
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
15,899
|
|
|
$
|
15,899
|
|
|
|
Three Months Ended
December 31, |
|
Six Months Ended
December 31, |
||||||||||||
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Beginning balance
|
|
$
|
—
|
|
|
$
|
12,400
|
|
|
$
|
15,899
|
|
|
$
|
12,600
|
|
Change in fair value
|
|
—
|
|
|
300
|
|
|
65
|
|
|
100
|
|
||||
Settlement upon maturity
|
|
—
|
|
|
|
|
(15,964
|
)
|
|
—
|
|
|||||
Ending balance
|
|
$
|
—
|
|
|
$
|
12,700
|
|
|
$
|
—
|
|
|
$
|
12,700
|
|
•
|
Risk-free interest rate - We determine the risk-free interest rate by using a weighted average assumption equivalent to the expected term based on the U.S. Treasury constant maturity rate.
|
•
|
Expected term - We estimate the expected term of our options based upon historical exercises and post-vesting termination behavior.
|
•
|
Expected volatility - We estimate expected volatility using daily historical trading data of our common stock.
|
•
|
Dividend yield - We have never paid dividends and currently have no plans to do so; therefore, no dividend yield is applied.
|
|
Six Months Ended December 31, 2018
|
||
|
2018
|
|
2017
|
Risk-free interest rate
|
2.7% - 3.0%
|
|
1.6% - 2.0%
|
Expected option term in years
|
3.8 - 5.1
|
|
3.9 - 4.1
|
Expected volatility
|
63.5% - 67.0%
|
|
66.1% - 67.0%
|
Dividend yield
|
0%
|
|
0%
|
Weighted average grant date fair value
|
$8.95
|
|
$5.37
|
|
Number of
Options |
|
Weighted
Average Exercise Price |
|
Weighted Average Remaining Contractual Term (in years)
|
|
Aggregate Intrinsic Value (in thousands)
|
|||||
Outstanding balance at June 30, 2018
|
15,326,350
|
|
|
$
|
7.68
|
|
|
|
|
|
||
Granted
|
4,358,163
|
|
|
$
|
15.91
|
|
|
|
|
|
||
Exercised
|
(702,102
|
)
|
|
$
|
5.14
|
|
|
|
|
|
||
Forfeited
|
(309,347
|
)
|
|
$
|
9.77
|
|
|
|
|
|
||
Expired
|
(6,000
|
)
|
|
$
|
6.22
|
|
|
|
|
|
||
Outstanding balance at December 31, 2018
|
18,667,064
|
|
|
$
|
9.66
|
|
|
7.9
|
|
$
|
94,649
|
|
Vested and expected to vest at December 31, 2018
|
18,644,842
|
|
|
$
|
9.66
|
|
|
7.9
|
|
$
|
94,477
|
|
Exercisable at December 31, 2018
|
7,153,673
|
|
|
$
|
6.08
|
|
|
6.2
|
|
$
|
58,480
|
|
|
Number of RSUs
|
|
Weighted
Average Grant Date Fair Value |
|||
Unvested at June 30, 2018
|
959,730
|
|
|
$
|
9.28
|
|
Granted
|
617,518
|
|
|
15.87
|
|
|
Vested
|
(224,294
|
)
|
|
9.98
|
|
|
Forfeited
|
(21,084
|
)
|
|
9.51
|
|
|
Unvested at December 31, 2018
|
1,331,870
|
|
|
$
|
12.21
|
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
December 31,
|
|
December 31,
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Net loss - basic and diluted
|
$
|
(11,362
|
)
|
|
$
|
(34,053
|
)
|
|
$
|
(36,173
|
)
|
|
$
|
(72,047
|
)
|
|
|
|
|
|
|
|
|
||||||||
Weighted average shares outstanding - basic and diluted
|
215,872
|
|
|
199,852
|
|
|
214,032
|
|
|
187,312
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Per share data:
|
|
|
|
|
|
|
|
||||||||
Basic and diluted
|
$
|
(0.05
|
)
|
|
$
|
(0.17
|
)
|
|
$
|
(0.17
|
)
|
|
$
|
(0.38
|
)
|
|
December 31,
|
||||
|
2018
|
|
2017
|
||
2.625% convertible senior notes
|
8,156
|
|
|
8,156
|
|
Stock options
|
18,667
|
|
|
14,910
|
|
Unvested RSUs
|
1,332
|
|
|
1,245
|
|
Total anti-dilutive common stock equivalents excluded from diluted loss per share calculation
|
28,155
|
|
|
24,311
|
|
|
Drug Candidate
|
|
Target/Disease State
|
|
Partner
|
|
Clinical Status
|
|
BRAFTOVI + MEKTOVI
|
|
BRAF and MEK inhibitors for advanced
BRAF
-mutant melanoma
|
|
Pierre Fabre Medicament SAS and Ono Pharmaceutical Co., Ltd.
|
|
Approved
|
|
Encorafenib
|
|
BRAF inhibitor for
BRAF
-mutant CRC
|
|
Pierre Fabre Medicament SAS and Ono Pharmaceutical Co., Ltd.
|
|
Phase 3
|
|
Binimetinib
|
|
MEK inhibitor for
BRAF
-mutant CRC and other cancers
|
|
Pierre Fabre Medicament SAS and Ono Pharmaceutical Co., Ltd.
|
|
Phase 3
|
|
Vitrakvi / Larotrectinib (1)(2)
|
|
PanTrk inhibitor for cancer
|
|
Loxo Oncology, Inc.
|
|
Approved
|
|
Ganovo / Danoprevir (1)
|
|
Protease inhibitor for Hepatitis C virus
|
|
Roche Holding AG
|
|
Approved (3)
|
|
Selumetinib (1)
|
|
MEK inhibitor for NF1 (4)
|
|
AstraZeneca, PLC
|
|
Phase 2 / Registration Trial
|
|
Tucatinib / ONT-380 (1)
|
|
HER2 inhibitor for breast cancer
|
|
Seattle Genetics, Inc.
|
|
Phase 2 / Registration Trial
|
|
|
|
|
|
|
|
|
|
Ipatasertib / GDC-0068 (1)
|
|
AKT inhibitor for cancer
|
|
Genentech, Inc.
|
|
Phase 3
|
|
Varlitinib / ASLAN001 (1)
|
|
Pan-HER2 inhibitor for cancer
|
|
ASLAN Pharmaceuticals Pte Ltd.
|
|
Phase 2 / 3
|
|
ARRY-797
|
|
p38 inhibitor for Lamin A/C-related dilated cardiomyopathy
|
|
Wholly-owned by Array
|
|
Phase 3
|
|
|
|
|
|
|
|
|
|
LOXO-292 (1)
|
|
Ret inhibitor for cancer
|
|
Loxo Oncology, Inc.
|
|
Phase 2 / Registration Trial
|
|
ARRY-382
|
|
CSF1R inhibitor for cancer
|
|
Wholly-owned by Array
|
|
Phase 2
|
|
Motolimod / VTX-2337 (1)
|
|
Toll-like receptor for cancer
|
|
Celgene Corp. / VentiRx Pharmaceuticals, Inc.
|
|
Phase 2
|
|
Prexasertib / LY2606368 (1)
|
|
CHK-1 inhibitor for cancer
|
|
Eli Lilly and Company
|
|
Phase 2
|
|
LOXO-195 (1)
|
|
Trk inhibitor for cancer
|
|
Loxo Oncology, Inc.
|
|
Phase 1 / 2
|
|
AK-1830 (1)
|
|
TrkA selective inhibitor for inflammation and pain
|
|
Asahi Kasei Pharma Corporation
|
|
Phase 1
|
|
MRTX849 (1)
|
|
KRAS G12C inhibitor for cancer
|
|
Mirati Therapeutics, Inc.
|
|
Phase 1 / 2
|
|
Three Months Ended
|
|
Change
|
|
Six Months Ended
|
|
Change
|
||||||||||||||||||||||
|
December 31,
|
|
2018 vs. 2017
|
|
December 31,
|
|
2018 vs. 2017
|
||||||||||||||||||||||
|
2018
|
|
2017
|
|
$
|
|
%
|
|
2018
|
|
2017
|
|
$
|
|
%
|
||||||||||||||
Product sales, net
|
$
|
22,713
|
|
|
$
|
—
|
|
|
$
|
22,713
|
|
|
(a)
|
|
|
$
|
36,706
|
|
|
$
|
—
|
|
|
$
|
36,706
|
|
|
(a)
|
|
Collaboration and license revenue
|
50,924
|
|
|
19,823
|
|
|
31,101
|
|
|
157
|
%
|
|
81,952
|
|
|
31,377
|
|
|
50,575
|
|
|
161
|
%
|
||||||
Reimbursement revenue
|
8,912
|
|
|
22,395
|
|
|
(13,483
|
)
|
|
(60
|
)%
|
|
20,801
|
|
|
40,587
|
|
|
(19,786
|
)
|
|
(49
|
)%
|
||||||
Total revenue
|
$
|
82,549
|
|
|
$
|
42,218
|
|
|
$
|
40,331
|
|
|
96
|
%
|
|
$
|
139,459
|
|
|
$
|
71,964
|
|
|
$
|
67,495
|
|
|
94
|
%
|
|
Three Months Ended
|
|
Change
|
|
Six Months Ended
|
|
Change
|
||||||||||||||||||||||
|
December 31,
|
|
2018 vs. 2017
|
|
December 31,
|
|
2018 vs. 2017
|
||||||||||||||||||||||
|
2018
|
|
2017
|
|
$
|
|
%
|
|
2018
|
|
2017
|
|
$
|
|
%
|
||||||||||||||
Cost of goods sold
|
$
|
786
|
|
|
$
|
—
|
|
|
$
|
786
|
|
|
(a)
|
|
|
$
|
981
|
|
|
$
|
—
|
|
|
$
|
981
|
|
|
(a)
|
|
Research and development
|
62,120
|
|
|
56,329
|
|
|
5,791
|
|
|
10
|
%
|
|
117,670
|
|
|
109,533
|
|
|
8,137
|
|
|
7
|
%
|
||||||
Selling, general and administrative
|
30,473
|
|
|
11,607
|
|
|
18,866
|
|
|
163
|
%
|
|
55,363
|
|
|
23,655
|
|
|
31,708
|
|
|
134
|
%
|
||||||
Total operating expenses
|
$
|
93,379
|
|
|
$
|
67,936
|
|
|
$
|
25,443
|
|
|
37
|
%
|
|
$
|
174,014
|
|
|
$
|
133,188
|
|
|
$
|
40,826
|
|
|
31
|
%
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
December 31,
|
|
December 31,
|
||||||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Cost of goods sold to Customers
|
$
|
587
|
|
|
$
|
—
|
|
|
$
|
716
|
|
|
$
|
—
|
|
Cost of goods sold to international partners under product supply agreements
|
75
|
|
|
—
|
|
|
77
|
|
|
—
|
|
||||
Royalty expense
|
124
|
|
|
—
|
|
|
188
|
|
|
—
|
|
||||
Total cost of goods sold
|
$
|
786
|
|
|
$
|
—
|
|
|
$
|
981
|
|
|
$
|
—
|
|
|
Three Months Ended
|
|
Change
|
|
Six Months Ended
|
|
Change
|
||||||||||||||||||||||
|
December 31,
|
|
2018 vs. 2017
|
|
December 31,
|
|
2018 vs. 2017
|
||||||||||||||||||||||
|
2018
|
|
2017
|
|
$
|
|
%
|
|
2018
|
|
2017
|
|
$
|
|
%
|
||||||||||||||
Loss on extinguishment and conversion of Notes
|
$
|
—
|
|
|
$
|
(6,457
|
)
|
|
$
|
6,457
|
|
|
(100
|
)%
|
|
$
|
—
|
|
|
$
|
(6,457
|
)
|
|
$
|
6,457
|
|
|
(100
|
)%
|
Realized gain on investments
|
—
|
|
|
—
|
|
|
—
|
|
|
(a)
|
|
|
35
|
|
|
—
|
|
|
35
|
|
|
(a)
|
|
||||||
Change in fair value of notes payable
|
—
|
|
|
(300
|
)
|
|
300
|
|
|
(100
|
)%
|
|
(65
|
)
|
|
(100
|
)
|
|
35
|
|
|
(35
|
)%
|
||||||
Interest income
|
2,286
|
|
|
1,255
|
|
|
1,031
|
|
|
82
|
%
|
|
3,810
|
|
|
1,780
|
|
|
2,030
|
|
|
114
|
%
|
||||||
Interest expense
|
(2,818
|
)
|
|
(2,833
|
)
|
|
15
|
|
|
(1
|
)%
|
|
(5,398
|
)
|
|
(6,046
|
)
|
|
648
|
|
|
(11
|
)%
|
||||||
Total other income (expense), net
|
$
|
(532
|
)
|
|
$
|
(8,335
|
)
|
|
$
|
7,803
|
|
|
(94
|
)%
|
|
$
|
(1,618
|
)
|
|
$
|
(10,823
|
)
|
|
$
|
9,205
|
|
|
(85
|
)%
|
|
December 31, 2018
|
|
June 30, 2018
|
|
$ Change
|
||||||
Cash and cash equivalents
|
$
|
147,094
|
|
|
$
|
114,748
|
|
|
$
|
32,346
|
|
Marketable securities – current
|
329,964
|
|
|
297,739
|
|
|
32,225
|
|
|||
Marketable securities – non-current
|
1,095
|
|
|
919
|
|
|
176
|
|
|||
Total
|
$
|
478,153
|
|
|
$
|
413,406
|
|
|
$
|
64,747
|
|
|
Six Months Ended
December 31, |
|
|
||||||||
|
2018
|
|
2017
|
|
$ Change
|
||||||
Cash flows provided by (used in):
|
|
|
|
|
|
||||||
Operating activities
|
$
|
(43,438
|
)
|
|
$
|
(70,176
|
)
|
|
$
|
26,738
|
|
Investing activities
|
(32,946
|
)
|
|
(246,851
|
)
|
|
213,905
|
|
|||
Financing activities
|
108,730
|
|
|
256,145
|
|
|
(147,415
|
)
|
|||
Total
|
$
|
32,346
|
|
|
$
|
(60,882
|
)
|
|
$
|
93,228
|
|
|
|
|
|
Incorporated by Reference
|
||||
Exhibit Number
|
|
Description of Exhibit
|
|
Form
|
|
File No.
|
|
Date Filed
|
3.1
|
|
|
10-Q
|
|
001-16633
|
|
10/30/18
|
|
3.2
|
|
|
10-Q
|
|
001-16633
|
|
2/6/2018
|
|
4.1
|
|
|
S-1/A
|
|
333-45922
|
|
10/27/2000
|
|
4.2
|
|
|
8-K
|
|
001-16633
|
|
12/4/2017
|
|
4.3
|
|
|
8-K
|
|
001-16633
|
|
12/4/2017
|
|
31.1
|
|
|
Filed herewith
|
|||||
31.2
|
|
|
Filed herewith
|
|||||
32.1
|
|
|
Furnished
|
|||||
101.INS
|
|
XBRL Instance Document
|
|
Filed herewith
|
||||
101.SCH
|
|
XBRL Taxonomy Extension Schema Document
|
|
Filed herewith
|
||||
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
Filed herewith
|
||||
101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
Filed herewith
|
||||
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
|
Filed herewith
|
||||
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
Filed herewith
|
By:
|
/s/ RON SQUARER
|
|
Ron Squarer
|
|
Chief Executive Officer
|
|
|
|
|
By:
|
/s/ JASON HADDOCK
|
|
Jason Haddock
|
|
Chief Financial Officer
|
|
(Principal Financial and Accounting Officer)
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Array BioPharma Inc.;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant is made known to us by others within this entity, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
Date:
|
February 5, 2019
|
By:
|
/s/ RON SQUARER
|
|
|
|
Ron Squarer
|
|
|
|
Chief Executive Officer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Array BioPharma Inc.;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant is made known to us by others within this entity, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
Date:
|
February 5, 2019
|
By:
|
/s/ JASON HADDOCK
|
|
|
|
Jason Haddock
|
|
|
|
Principal Accounting Officer
|
(a)
|
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
|
(b)
|
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.
|
Date:
|
February 5, 2019
|
/s/ RON SQUARER
|
|
|
Ron Squarer
|
|
|
Chief Executive Officer
|
|
|
|
|
|
|
|
|
/s/ JASON HADDOCK
|
|
|
Jason Haddock
|
|
|
Principal Accounting Officer
|
|
|
|