Balance Sheet Components

12 Months Ended

Dec. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Components

5. Balance Sheet Components

Cash and Cash Equivalents

Cash and cash equivalents consist of the following:

	December 31,
	2015		2014
	(in thousands)
Cash	$	1,576	$	1,307
Cash equivalents:
Money market accounts		148,604		27,847
Total cash and cash equivalents	$	150,180	$	29,154

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:

	December 31,
	2015		2014
	(in thousands)
Prepaid research and development project costs	$	878	$	515
Prepaid insurance		480		23
Other		315		23
Total prepaid expenses and other current assets	$	1,673	$	561

Property and Equipment, net

Property and equipment, net consists of the following:

	December 31,
	2015			2014
	(in thousands)
Computer equipment	$	242		$	56
Software		126			9
Lab equipment		236			163
Leasehold improvements		84			—
Property and equipment, gross		688			228
Less: accumulated depreciation		(122	)		(14	)
Total property and equipment, net	$	566		$	214

Depreciation and amortization related to the Company’s property and equipment for the years ended December 31, 2015, 2014 and 2013 was $111,000, $12,000 and $1,000, respectively.

Accrued Liabilities

Accrued liabilities consist of the following:

	December 31,
	2015		2014
	(in thousands)
Accrued research and development costs	$	4,318	$	526
Accrued employee related costs		1,529		759
Accrued professional fees		933		140
Other		236		48
Total accrued liabilities	$	7,016	$	1,473