Annual report pursuant to Section 13 and 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities      
Net loss $ (47,743) $ (29,818) $ (13,431)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 1,273 602 258
Loss on disposal of assets 4 17  
Stock-based compensation expense 4,234 3,233 937
Net amortization of premiums and discounts on marketable securities 6    
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (508) (390) (38)
Accounts receivables (317)    
Other long term assets (482)    
Restricted cash   (413)  
Accounts payable (404) 2,022 334
Accrued expenses 3,685 1,663 7
Deferred rent and lease incentive (284) 54 (36)
Net cash used in operating activities (40,536) (23,030) (11,969)
Investing activities      
Purchases of property and equipment (2,322) (1,176) (201)
Purchases of marketable securities (25,020)    
Net cash used in investing activities (27,342) (1,176) (201)
Financing activities      
Payments on capital lease obligations (135) (50)  
Proceeds from issuance of convertible preferred stock, net of issuance costs 39,813   68,747
Proceeds from issuance of common stock 395 392 15
Proceeds from initial public offering of common stock, net of commissions and underwriting discounts 53,480    
Payments of offering costs (2,996) (620)  
Net cash provided by (used in) financing activities 90,557 (278) 68,762
Increase (decrease) in cash and cash equivalents 22,679 (24,484) 56,592
Cash and cash equivalents, Beginning of period 35,909 60,393 3,801
Cash and cash equivalents, End of period 58,588 35,909 $ 60,393
Supplemental disclosure of cash flow information:      
Cash paid for interest 19 18  
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 349 1,359  
Assets acquired under capital lease $ 17 389  
Assets acquired through lease incentive   1,612  
Offering costs incurred but unpaid as of period end   $ 1,280