XML 25 R7.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities      
Net loss $ (13,152,000) $ (22,946,000) $ (16,829,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Stock-based compensation expense 2,813,000 516,000 92,000
Depreciation 1,111,000 965,000 712,000
Gain on disposal of equipment   (4,000)  
Redeemable convertible preferred stock call option liability, net issued in connection with license and collaboration agreement     686,000
Change in fair value of redeemable convertible preferred stock call option liability, net   (314,000) (387,000)
Changes in operating assets and liabilities:      
Receivable from collaboration partner (45,000,000)    
Prepaid expenses and other current assets (112,000) (852,000) (198,000)
Other long term assets (24,000) 39,000  
Accounts payable (434,000) 1,301,000 (340,000)
Accrued liabilities 3,250,000 2,940,000 1,540,000
Other long term liabilities (109,000) 454,000 (16,000)
Deferred revenue 30,801,000 (14,199,000) 28,398,000
Net cash (used in) provided by operating activities (20,856,000) (32,100,000) 13,658,000
Cash flow from investing activities      
Purchases of investments (16,060,000)    
Purchases of property and equipment (1,083,000) (1,446,000) (716,000)
Proceeds from sale of equipment   134,000  
Decrease (increase) in restricted cash 30,000 60,000 (260,000)
Net cash used in investing activities (17,113,000) (1,252,000) (976,000)
Cash flow from financing activities      
Proceeds from issuance of common stock during IPO, net of issuance costs (153,000) 55,780,000  
Proceeds from exercise of stock options and employee stock purchase plan 506,000 352,000 165,000
Net cash provided by financing activities 61,501,000 101,969,000 29,055,000
Net increase in cash and cash equivalents 23,532,000 68,617,000 41,737,000
Cash and cash equivalents at beginning of period 112,265,000 43,648,000 1,911,000
Cash and cash equivalents at end of period 135,797,000 112,265,000 43,648,000
Non-cash investing and financing activities:      
Unpaid financing-related costs included in period-end accounts payable 38,000    
Unpaid financing-related costs included in period-end accrued liabilities   153,000  
Vesting of early exercised options and restricted stock 272,000 177,000 104,000
Unpaid portion of property and equipment purchases included in period-end accounts payable 97,000 47,000 91,000
Unpaid portion of property and equipment purchases included in period-end accrued liabilities 6,000 14,000  
Accretion of redeemable convertible preferred stock to redemption value   98,000 158,000
Accretion of dividends on redeemable convertible preferred stock   5,151,000 2,864,000
Follow-on Offering      
Cash flow from financing activities      
Issuance of common stock in connection with the 2016 follow-on offering, net of issuance costs $ 61,148,000    
Series A Redeemable Convertible Preferred Stock      
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Change in fair value of redeemable convertible preferred stock call option liability, net     (15,000)
Cash flow from financing activities      
Proceeds from issuance of preferred stock, net of issuance costs     18,994,000
Series A-1 Redeemable Convertible Preferred Stock      
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Change in fair value of redeemable convertible preferred stock call option liability, net   (300,000) (400,000)
Cash flow from financing activities      
Proceeds from issuance of preferred stock, net of issuance costs     $ 9,896,000
Series B Redeemable Convertible Preferred Stock      
Cash flow from financing activities      
Proceeds from issuance of preferred stock, net of issuance costs   $ 45,837,000