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Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities    
Net loss $ (57,968) $ (53,671)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 868 858
Non-cash stock-based compensation 4,861 7,496
Premium on purchases of marketable securities (378) (59)
Amortization of (discount) premium on marketable securities (1,875) (166)
Loss on disposal of fixed assets 381  
Impairment of fixed assets 128  
Changes in operating assets and liabilities:    
Accounts and other receivables 114 (22)
Prepaid expenses and other assets 464 (477)
Accounts payable 815 (3,630)
Operating lease right-of-use asset 790  
Operating lease liability (783)  
Accrued expenses 4,327 (590)
Other liabilities (17) (49)
Net cash used in operating activities (48,273) (50,310)
Cash flows from investing activities    
Purchases of fixed assets (177) (468)
Purchases of marketable securities (188,727) (173,029)
Proceeds from sale of fixed assets 2  
Maturities of marketable securities 227,155 214,749
Net cash provided by investing activities 38,253 41,252
Cash flows from financing activities    
Proceeds from exercise of stock options 3,810 1,883
Proceeds from sale of common stock under Employee Stock Purchase Plan 79 102
Repayments of debt (131) (132)
Net cash provided by financing activities 3,758 1,853
Net decrease in cash and cash equivalents (6,262) (7,205)
Cash, cash equivalents and restricted cash, beginning of period 49,981 43,648
Cash, cash equivalents and restricted cash, end of period 43,719 36,443
Supplemental disclosure of cash flow information    
Cash paid for interest 18 26
Supplemental disclosure of non-cash activities    
Purchases of fixed assets in accounts payable and accrued expenses 11 $ 11
Operating lease right-of-use asset and liability (non-cash adoption balances) 1,889  
Noncash change in right of use asset and liability from remeasurement of existing leases and addition of new lease $ 1,166