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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating Activities:    
Net loss $ (90,844) $ (88,319)
Reconciliation of net loss to net cash used in operating activities:    
Depreciation and amortization 4,136 4,167
(Gain) Loss on disposal of property and equipment (45) 296
Non-cash impact of lease termination (4,381) 0
Amortization of debt issuance costs 712 712
Lease incentives received 0 1,485
Non-cash stock-based compensation 9,496 8,726
Other (1,067) 1,347
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 389 1,869
Accounts payable and accrued expenses (6,504) (105)
Deferred revenue (17,938) 12,922
Net cash used in operating activities (106,046) (56,900)
Investing Activities:    
Capital expenditures (459) (2,318)
Proceeds from maturities of marketable securities 51,115 130,609
Purchases of marketable securities (78,374) (151,044)
Net cash used in investing activities (27,718) (22,753)
Financing Activities:    
Principal payments on capital lease 0 (37)
Net proceeds from sales of common stock 96,486 22,735
Proceeds from the exercise of stock options and employee stock purchases 1,442 797
Net cash provided by financing activities 97,928 23,495
Effect of exchange rate on cash, cash equivalents and restricted cash (36) 61
Net decrease in cash, cash equivalents and restricted cash (35,872) (56,097)
Cash, cash equivalents and restricted cash at beginning of period 135,431 179,257
Cash, cash equivalents and restricted cash at end of period 99,559 123,160
Supplemental disclosure of non-cash activities:    
Sale of common stock under the Sales Agreement not settled at quarter-end 0 334
Property and equipment purchases included in accounts payable and accrued expenses 161 686
Supplemental disclosure of cash flow information:    
Cash payments of interest $ 6,094 $ 6,094