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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 40,518 $ 84,098
Marketable securities 202,585 192,898
Accounts receivable 2,093 2,764
Prepaid expenses 5,018 3,483
Other current assets 793 704
Total current assets 251,007 283,947
Property and equipment, net 17,376 17,961
Marketable securities, non-current 4,978 7,986
Other assets 1,360 1,369
Total assets 274,721 311,263
Current liabilities:    
Accounts payable 1,515 3,995
Accrued expenses 17,957 16,134
Deferred revenue 4,261 4,261
Deferred rent 1,308 1,319
Lease exit liability 1,511 1,593
Total current liabilities 26,552 27,302
Deferred revenue, net of current portion 8,979 10,045
Deferred rent, net of current portion 4,552 4,867
Lease exit liability, net of current portion 0 298
Total liabilities 40,083 42,512
Stockholders' equity:    
Common stock, $0.01 par value – 125,000,000 shares authorized, 34,980,433 and 34,870,607 shares outstanding at March 31, 2017 and December 31, 2016, respectively 350 349
Additional paid-in capital 564,766 561,198
Accumulated deficit (330,370) (292,714)
Accumulated other comprehensive loss (108) (82)
Total stockholders' equity 234,638 268,751
Total liabilities and stockholders' equity $ 274,721 $ 311,263