Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Revenue Initial Application Period Cumulative Effect Transition [Line Items]

Summary of Cash Reported in Consolidated Statements of Cash Flows

Cash as reported in the consolidated statements of cash flows consists of (in thousands):

	As of December 31,
	2018		2017		2016
Cash and cash equivalents	$	246,122	$	224,571	$	135,797
Restricted cash - noncurrent		2,143		286		260
Cash balance in consolidated statements of cash flows	$	248,265	$	224,857	$	136,057

 

Accounting Standards Update 2014-09

Revenue Initial Application Period Cumulative Effect Transition [Line Items]

Summary of Financial Statement Line Items Affected due to Implementation of Topic 606

The following tables summarize the financial statement line items that were affected due to the Company’s implementation of ASC 606 (in thousands, except for share and per share amounts):

Consolidated Balance Sheets

	December 31, 2017
	As Originally Reported			Effect of Change			As Revised
Deferred revenue - current	$	22,500		$	11,058		$	33,558
Accumulated deficit	$	(123,797	)	$	(11,058	)	$	(134,855	)

Consolidated Statements of Operations and Comprehensive Losses

	Year Ended December 31, 2017
	As Originally Reported			Effect of Change			As Revised
Collaboration and license revenue	$	22,500		$	(11,058	)	$	11,442
Operating expenses:
Research and development		48,136			—			48,136
General and administrative		21,973			—			21,973
Total operating expenses		70,109			—			70,109
Loss from operations		(47,609	)		(11,058	)		(58,667	)
Interest and other income, net		1,657			—			1,657
Net loss		(45,952	)		(11,058	)		(57,010	)
Other comprehensive loss		(200	)		—			(200	)
Comprehensive loss		(46,152	)		(11,058	)		(57,210	)
Net loss per share, basic and diluted	$	(1.40	)	$	(0.34	)	$	(1.74	)
Weighted average number of shares used to compute    net loss per share, basic and diluted		32,832,514			—			32,832,514

	Year Ended December 31, 2016
	As Originally Reported			Effect of Change		As Revised
Collaboration and license revenue	$	39,199		$	2,772	$	41,971
Operating expenses:
Research and development		36,215			—		36,215
General and administrative		16,289			—		16,289
Total operating expenses		52,504			—		52,504
Loss from operations		(13,305	)		2,772		(10,533	)
Interest and other income, net		153			—		153
Net loss		(13,152	)		2,772		(10,380	)
Other comprehensive gain		8			—		8
Comprehensive loss		(13,144	)		2,772		(10,372	)
Net loss per share, basic and diluted	$	(0.48	)	$	0.10	$	(0.38	)
Weighted average number of shares used to compute    net loss per share, basic and diluted		27,475,792			—		27,475,792

Consolidated Statements of Cash Flows

	Year Ended December 31, 2017
	As Originally Reported			Effect of Change			As Revised
Net loss	$	(45,952	)	$	(11,058	)	$	(57,010	)
Adjustments to reconcile net loss to net cash used in operating activities:
Deferred revenue	$	(22,500	)	$	11,058		$	(11,442	)
Cash, cash equivalents and restricted cash, beginning of period	$	135,797		$	260		$	136,057
Cash, cash equivalents and restricted cash, end of period	$	224,571		$	286		$	224,857

	Year Ended December 31, 2016
	As Originally Reported			Effect of Change			As Revised
Net loss	$	(13,152	)	$	2,772		$	(10,380	)
Adjustments to reconcile net loss to net cash used in operating activities:
Deferred revenue	$	30,801		$	(2,772	)	$	28,029
Cash, cash equivalents and restricted cash, beginning of period	$	112,265		$	290		$	112,555
Cash, cash equivalents and restricted cash, end of period	$	135,797		$	260		$	136,057