Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

Schedule of Impact of New Accounting Pronouncements

The following table compares the reported condensed consolidated balance sheet and statement of operations, as of and for the three months ended March 31, 2018, to the pro-forma amounts had the previous guidance been in effect:

	As of March 31, 2018
Consolidated Balance Sheet	As reported			Pro forma as if the previous accounting was in effect
Assets
Cash, cash equivalents, and restricted cash	$	58,304		$	58,304
Short-term deposits and investments	24,839			24,839
Accounts receivable	52			52
Prepaid expenses and other current assets	1,789			1,558
Total current assets	84,984			84,753
Property and equipment, net	2,257			2,257
Restricted cash and other assets	2,696			329
Total assets	$	89,937		$	87,339
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	1,789		1,789
Accrued expenses	9,062			9,062
Deferred revenue, current portion	959			959
Total current liabilities	11,810			11,810
Non‑current liabilities:
Deferred rent and lease incentive	129			129
Loans payable, net of current portion	21,127			21,127
Deferred revenue, net of current portion	13,917			15,747
Other long‑term liabilities	1,372			1,372
Total liabilities	48,355			50,185
Stockholders’ equity:
Common stock	3			3
Additional paid-in capital	274,334			274,334
Accumulated deficit	(228,357		)	(232,785		)
Accumulated other comprehensive loss	(4,398		)	(4,398		)
Total stockholders’ equity	41,582			37,154
Total liabilities and stockholders’ equity	$	89,937		$	87,339

As a result of applying the modified retrospective method to adopt the new revenue guidance, the following adjustments were made to the Company's accounts on the condensed consolidated balance sheet as of January 1, 2018:

				Adjustments
	As Reported at			Due to			Balance at
Consolidated Balance Sheet	December 31, 2017			ASU 2014-09			January 1, 2018
Assets
Cash, cash equivalents, and restricted cash	$	70,698		$	—		$	70,698
Short-term deposits and investments	25,940			—			25,940
Accounts receivable	63			—			63
Prepaid expenses and other current assets	1,979			231			2,210
Total current assets	98,680			231			98,911
Property and equipment, net	2,091			—			2,091
Restricted cash and other assets	329			2,367			2,696
Total assets	$	101,100		$	2,598		$	103,698
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	1,606			—			1,606
Accrued expenses	8,580			—			8,580
Deferred revenue, current portion	787			—			787
Total current liabilities	10,973			—			10,973
Non‑current liabilities:
Deferred rent and lease incentive	151			—			151
Loans payable, net of current portion	21,042			—			21,042
Deferred revenue, net of current portion	15,919			(1,830		)	14,089
Other long‑term liabilities	1,201			—			1,201
Total liabilities	49,286			(1,830		)	47,456
Stockholders’ equity:
Common stock	3			—			3
Additional paid-in capital	273,128			—			273,128
Accumulated deficit	(216,897		)	4,428			(212,469		)
Accumulated other comprehensive loss	(4,420		)	—			(4,420		)
Total stockholders’ equity	51,814			4,428			56,242
Total liabilities and stockholders’ equity	$	101,100		$	2,598		$	103,698

Schedule of Changes in Contract Liabilities

The following table presents changes in the Company’s contract liabilities during the three months ended March 31, 2018 (in thousands):

	Balance at						Balance at
	Beginning of Period		Additions		Deductions		End of Period
Three Months Ended March 31, 2018
Contract liabilities:
Deferred revenue	$	14,876	$	—	$	—	$	14,876
Other liabilities (i)	2,231		—		—		2,231
Total contract liabilities	$	17,107	$	—	$	—	$	17,107

(i) The current portion of other liabilities in the amount of $0.8 million is presented in the accrued expenses line of the consolidated balance sheet. The noncurrent portion of other liabilities in the amount of $1.4 million is presented in the other long-term liabilities line of the consolidated balance sheet.