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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities    
Net loss $ (49,099) $ (49,405)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,359 1,394
Stock-based compensation 7,008 5,966
Non-cash interest expense 282 820
Deferred income taxes 19 18
Non-cash tax expense from other unrealized loss on available-for-sale securities 3,825 1,246
Gain on sale of investment in marketable equity securities (3,466)  
Changes in operating assets and liabilities:    
Accounts receivable (3,608) (1,647)
Inventories (1,800) (1,432)
Other assets (379) 354
Accounts payable 4,022 1,562
Accrued liabilities and other non-current liabilities (1,477) 258
Manufacturing and development obligations 600 (3,258)
Deferred product revenue 514 306
Net cash used in operating activities (42,200) (43,818)
Investing activities    
Capital expenditures (354) (359)
Purchases of investments (50,183) (71,760)
Proceeds from maturities and sale of investments 55,566 33,500
Net cash provided by (used in) investing activities 5,029 (38,619)
Financing activities    
Net proceeds from equity incentives 2,421 2,710
Net proceeds from public offering 18,840 22,146
Proceeds from loans 30,000  
Repayment of debt (19,593) (591)
Net cash provided by financing activities 31,668 24,265
Net decrease in cash, cash equivalents and restricted cash (5,503) (58,172)
Cash, cash equivalents and restricted cash, beginning of period 22,744 71,630
Cash, cash equivalents and restricted cash, end of period $ 17,241 $ 13,458