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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating activities    
Net loss $ (44,247) $ (38,708)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,172 1,137
Stock-based compensation expense 4,977 3,148
Net amortization of premiums and discounts on marketable securities (334) (27)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (758) 22
Accounts receivable   867
Other long-term assets (45) (370)
Accounts payable 369 (295)
Accrued expenses 1,529 849
Deferred revenue 11,095 (550)
Deferred rent and lease incentive (261) (235)
Net cash used in operating activities (26,503) (34,162)
Investing activities    
Purchases of property and equipment (1,189) (754)
Proceeds from the disposition of property and equipment 9  
Purchases of marketable securities (72,000) (41,768)
Maturities of marketable securities 42,500 27,000
Net cash used in investing activities (30,680) (15,522)
Financing activities    
Payments on capital lease obligations (48) (125)
Proceeds from issuance of common stock through employee benefit plans 487 918
Proceeds from issuance of common stock in public offerings and private placements, net of issuance costs 68,508 32,452
Net cash provided by financing activities 68,947 33,245
Increase (decrease) in cash, cash equivalents and restricted cash 11,764 (16,439)
Beginning of period 32,688 59,071
End of period 44,452 42,632
Supplemental disclosure of cash flow information:    
Cash paid for interest 1 8
Non-cash investing and financing activities    
Property and equipment received but unpaid as of period end 77 9
Assets acquired under capital lease $ 28  
Offering costs incurred but unpaid as of period end   $ 60

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