Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities    
Net loss $ (11,515) $ (10,588)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 365 304
Stock-based compensation expense 884 662
Net amortization of premiums and discounts on marketable securities 7  
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (412) (552)
Accounts receivable 316  
Other long-term assets 18  
Accounts payable 220 (914)
Accrued expenses (2,074) 540
Deferred revenue (550)  
Deferred rent and lease incentive (79) (70)
Net cash used in operating activities (12,820) (10,618)
Investing activities    
Purchases of property and equipment (396) (1,525)
Maturities of marketable securities 2,499  
Net cash provided by (used in) investing activities 2,103 (1,525)
Financing activities    
Payments on capital lease obligations (41) (17)
Proceeds from issuance of common stock 169  
Proceeds from issuance of convertible preferred stock, net of issuance costs   39,811
Payments of offering costs   (1,427)
Net cash provided by financing activities 128 38,367
Increase (decrease) in cash and cash equivalents (10,589) 26,224
Cash and cash equivalents, Beginning of period 58,588 35,909
Cash and cash equivalents, End of period 47,999 62,133
Supplemental disclosure of cash flow information:    
Cash paid for interest 3 5
Non-cash investing and financing activities    
Property and equipment received but unpaid as of period end 14 196
Offering costs incurred but unpaid as of period end $ 25 $ 235