Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating activities    
Net loss $ (14,463) $ (11,515)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 388 365
Stock-based compensation expense 1,696 884
Net amortization of premiums and discounts on marketable securities (69) 7
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (519) (412)
Accounts receivable   316
Other long-term assets 3 18
Accounts payable (562) 220
Accrued expenses (669) (2,074)
Deferred revenue 11,882 (550)
Deferred rent and lease incentive (87) (79)
Net cash used in operating activities (2,400) (12,820)
Investing activities    
Purchases of property and equipment (152) (396)
Purchases of marketable securities (2,486)  
Sales or maturities of marketable securities 15,000 2,499
Net cash provided by investing activities 12,362 2,103
Financing activities    
Payments on capital lease obligations (44) (41)
Proceeds from issuance of common stock through employee benefit plans 242 169
Proceeds from issuance of common stock in public offerings and private placements, net of issuance costs 51,969  
Net cash provided by financing activities 52,167 128
Increase (decrease) in cash, cash equivalents and restricted cash 62,129 (10,589)
Beginning of period 32,688 59,071
End of period 94,817 48,482
Supplemental disclosure of cash flow information:    
Cash paid for interest 1 3
Non-cash investing and financing activities    
Property and equipment received but unpaid as of period end 6 14
Offering costs incurred but unpaid as of period end $ 67 $ 25