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
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities    
Net loss $ (24,883) $ (22,609)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 746 620
Loss on disposal of assets   3
Stock-based compensation expense 2,040 1,810
Net amortization of premiums and discounts on marketable securities 13  
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (621) (1,497)
Accounts receivable 867  
Other long-term assets (368)  
Accounts payable (787) (1,423)
Accrued expenses (930) 1,467
Deferred revenue (550)  
Deferred rent and lease incentive (157) (140)
Net cash provided used in operating activities (24,630) (21,769)
Investing activities    
Purchases of property and equipment (708) (1,827)
Purchases of marketable securities (1,995)  
Maturities of marketable securities 15,000  
Net cash provided by (used in) investing activities 12,297 (1,827)
Financing activities    
Payments on capital lease obligations (83) (55)
Proceeds from issuance of common stock through employee benefit plans 718 357
Proceeds from issuance of convertible preferred stock, net of issuance costs   39,813
Proceeds from issuance of common stock through private placement, net of placement agent fees 32,865  
Payments of offering costs (224) (2,312)
Net cash used in financing activities 33,276 37,803
Increase (decrease) in cash and cash equivalents 20,943 14,207
Cash and cash equivalents, Beginning of period 58,588 35,909
Cash and cash equivalents, End of period 79,531 50,116
Supplemental disclosure of cash flow information:    
Cash paid for interest 6 10
Non-cash investing and financing activities    
Property and equipment received but unpaid as of period end 46 112
Assets acquired under capital lease   17
Offering costs incurred but unpaid as of period end $ 40 $ 625