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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities    
Net loss $ (36,466) $ (25,205)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation expense 5,074 3,202
Net amortization of premiums and accretion of discounts on marketable debt securities 945 987
Depreciation and amortization 1,257 104
Realized gains on sales of marketable securities (480)  
Other non-cash adjustments 40  
Changes in operating assets and liabilities    
Accounts receivable 982 1,353
Prepaid expenses (657) (460)
Other current assets (242) (586)
Other assets (86) (98)
Accounts payable 2,723 930
Accrued expenses and other current liabilities (31) 2,982
Advance payments   (127)
Deferred rent (89) 601
Net cash used in operating activities (27,030) (16,317)
Cash flows from investing activities    
Purchases of marketable securities (46,593) (32,261)
Maturities of marketable securities 28,010 26,131
Sales of marketable securities 780  
Purchases of property and equipment (4,609) (1,491)
Restricted cash   (225)
Net cash used in investing activities (22,412) (7,846)
Cash flows from financing activities    
Proceeds from exercise of stock options 329 130
Proceeds from issuance of common stock under employee stock purchase plan 147  
Proceeds from public offering of common stock, net of underwriting discounts and commissions 81,994  
Issuance costs for public offering of common stock (219)  
Net cash provided by financing activities 82,251 130
Net increase (decrease) in cash and cash equivalents 32,809 (24,033)
Cash and cash equivalents    
Beginning of period 24,840 54,116
End of period 57,649 30,083
Supplemental disclosures of non-cash investing and financing activities    
Purchases of property and equipment in accounts payable and accrued expenses   $ 939
Issuance costs for public offering of common stock in accounts payable and accrued expenses $ 193