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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities    
Net loss $ (28,510) $ (24,883)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 764 746
Stock-based compensation expense 3,440 2,040
Net amortization of premiums and discounts on marketable securities (115) 13
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,668) (621)
Accounts receivable   867
Other long-term assets (16) (368)
Accounts payable (1,010) (787)
Accrued expenses (697) (930)
Deferred revenue 11,508 (550)
Deferred rent and lease incentive (174) (157)
Net cash used in operating activities (16,478) (24,630)
Investing activities    
Purchases of property and equipment (168) (708)
Purchases of marketable securities (2,486) (1,995)
Maturities of marketable securities 32,500 15,000
Net cash provided by investing activities 29,846 12,297
Financing activities    
Payments on capital lease obligations (46) (83)
Proceeds from issuance of common stock through employee benefit plans 487 718
Proceeds from issuance of common stock in public offerings and private placements, net of issuance costs 68,179 32,641
Net cash provided by financing activities 68,620 33,276
Increase in cash, cash equivalents and restricted cash 81,988 20,943
Beginning of period 32,688 59,071
End of period 114,676 80,014
Supplemental disclosure of cash flow information:    
Cash paid for interest 1 6
Non-cash investing and financing activities    
Property and equipment received but unpaid as of period end 47 46
Assets acquired under capital lease 28  
Offering costs incurred but unpaid as of period end $ 2 $ 40

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