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BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 308,805 $ 33,660
Investments in marketable securities 208,199 145,246
Prepaid expenses and other current assets 3,071 2,703
Total current assets 520,075 181,609
Property and equipment, net 8,427 8,848
Operating lease right-of-use assets 5,843 0
Other long-term assets 802 802
Total assets 535,147 191,259
Current liabilities:    
Accounts payable 3,823 2,092
Accrued expenses and other current liabilities 8,675 3,164
Total current liabilities 12,498 5,256
Other long-term liabilities 8,223 2,009
Total liabilities 20,721 7,265
Commitments and contingencies (Note 6)
Stockholders' equity:    
Preferred stock, $0.001 par value per share; 20,000 shares authorized as of September 30, 2019 and December 31, 2018; no shares issued and outstanding as of September 30, 2019 and December 31, 2018 0 0
Common stock, $0.001 par value per share; 200,000 shares authorized as of September 30, 2019 and December 31, 2018; 48,664 and 42,117 shares issued and outstanding as of September 30, 2019 and December 31, 2018, respectively 48 42
Additional paid-in capital 679,145 288,079
Accumulated other comprehensive gain (loss) 102 (15)
Accumulated deficit (164,869) (104,112)
Total stockholders’ equity 514,426 183,994
Total liabilities and stockholders’ equity $ 535,147 $ 191,259