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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating Activities:    
Net loss $ (82,821) $ (90,844)
Reconciliation of net loss to net cash used in operating activities:    
Depreciation and amortization 3,864 4,136
Loss (Gain) on disposal of property and equipment 88 (45)
Non-cash impact of lease termination   (4,381)
Amortization of debt issuance costs 712 712
Non-cash stock-based compensation 10,179 9,497
Other 1,269 (1,067)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 2,617 389
Accounts payable and accrued expenses (10,952) (6,505)
Deferred revenue (5,577) (17,938)
Net cash used in operating activities (80,621) (106,046)
Investing Activities:    
Capital expenditures (1,281) (459)
Proceeds from maturities of marketable securities 24,500 51,115
Purchases of marketable securities (2,484) (78,374)
Net cash provided by (used in) investing activities 20,735 (27,718)
Financing Activities:    
Net proceeds from sales of common stock 55,242 96,486
Proceeds from the exercise of stock options and employee stock purchases 942 1,442
Net cash provided by financing activities 56,184 97,928
Effect of exchange rate on cash, cash equivalents and restricted cash (22) (36)
Net decrease in cash, cash equivalents and restricted cash (3,724) (35,872)
Cash, cash equivalents and restricted cash at beginning of period 81,959 135,431
Cash, cash equivalents and restricted cash at end of period 78,235 99,559
Supplemental disclosure of non-cash activities:    
Property and equipment purchases included in accounts payable and accrued expenses 146 161
Supplemental disclosure of cash flow information:    
Cash payments of interest $ 6,094 $ 6,094