Annual report pursuant to Section 13 and 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities      
Net loss $ (62,279) $ (54,010) $ (47,743)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 1,604 1,527 1,273
Loss on disposal of fixed assets     4
Stock-based compensation expense 6,610 4,419 4,234
Net amortization of premiums and discounts on marketable securities (642) (102) 6
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (500) 131 (508)
Accounts receivable   867 (317)
Other long-term assets (34) (365) (482)
Accounts payable 888 141 (404)
Accrued expenses 4,191 3,533 3,685
Deferred revenue 10,202 (550)  
Deferred rent and lease incentive (355) (320) (284)
Net cash used in operating activities (40,315) (44,729) (40,536)
Investing activities      
Purchases of property and equipment (1,384) (821) (2,322)
Proceeds from the disposition of property and equipment 9    
Purchases of marketable securities (96,768) (41,770) (25,020)
Maturities of marketable securities 87,500 27,000  
Net cash used in investing activities (10,643) (15,591) (27,342)
Financing activities      
Payments on capital lease obligations (50) (168) (135)
Proceeds from issuance of common stock through employee benefit plans 626 1,799 395
Proceeds from issuance of convertible preferred stock, net of issuance costs     39,813
Proceeds from issuance of common stock in public offerings and private placements, net of issuance costs 68,508 32,306 50,484
Net cash provided by financing activities 69,084 33,937 90,557
Increase (decrease) in cash, cash equivalents and restricted cash 18,126 (26,383) 22,679
Cash and cash equivalents, Beginning of period 32,688 59,071 36,392
Cash and cash equivalents, End of period 50,814 32,688 59,071
Supplemental disclosure of cash flow information:      
Cash paid for interest 2 9 19
Non-cash investing and financing activities      
Conversion of convertible preferred stock into common stock     82,013
Property and equipment received but unpaid as of period end 268 143 349
Assets acquired under capital lease $ 28   $ 17
Offering costs incurred but unpaid as of period end   $ 13