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STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net loss $ (43,099) $ (58,900) $ (35,374)
Adjustments to reconcile net loss to net cash (used) provided by operating activities:      
Loss/(gain) on disposal of property and equipment 17 (47) 25
Depreciation and amortization 1,645 1,733 1,206
Amortization of debt discount     80
Accretion of discount on short-term investments 371 1,662 1,186
Stock-based compensation expense 11,287 10,095 3,986
Issuance of common stock in connection with services   159  
Non-cash acquisition of in-process research and development asset charged to expense 10,700    
Deferred income taxes (513) 6 8
Changes in operating assets and liabilities      
Accounts receivable (7,980) (1,787) 1,131
Related party accounts receivable 154 218  
Prepaid expenses and other current assets (456) (1,597) (1,491)
Other assets 1,618 (2,609) 128
Accounts payable (2,441) 1,765 2,944
Deferred revenue 189,913 43,317 (6,130)
Accrued liabilities and other liabilities 9,157 3,953 3,170
Net cash provided by/(used in) operating activities 170,373 (2,032) (27,415)
Cash flows from investing activities:      
Purchases of property and equipment (1,559) (2,176) (1,594)
Proceeds from sales of assets   52  
Purchases of investments (218,707) (121,517) (250,901)
Maturities of investments 99,000 169,500 122,750
Increase in restricted cash     (817)
Net cash (used in)/provided by investing activities (121,266) 45,859 (130,562)
Cash flows from financing activities:      
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs     74,430
Proceeds from issuance of common stock, net of issuance costs 19,957    
Proceeds from initial public offering, net of issuance costs     81,777
Repayment of notes payable     (3,067)
Payment of deferred offering costs   (12)  
Net cash provided by financing activities 23,796 996 153,403
Proceeds from employee stock purchases and exercise of stock options 3,839 930 263
Proceeds from stockholder notes   78  
Net increase/(decrease) in cash and cash equivalents 72,903 44,823 (4,574)
Cash and cash equivalents, beginning of year 104,645 59,822 64,396
Cash and cash equivalents, end of year 177,548 104,645 59,822
Supplemental disclosures of noncash investing and financing items:      
Purchases of property and equipment in accounts payable and accrued liabilities $ 361 $ 473 100
Accretion to redemption value and cumulative dividends on preferred stock     6,705
Convertible preferred stock liability recorded in connection with redeemable convertible preferred stock     1,509
Stock issuance costs in accounts payable and accrued liabilities     13
Convertible Preferred Stock Liability      
Adjustments to reconcile net loss to net cash (used) provided by operating activities:      
Change in fair value of liability     1,114
Convertible Preferred Stock Warrant Liability      
Adjustments to reconcile net loss to net cash (used) provided by operating activities:      
Change in fair value of liability     $ 602