5.	Balance Sheet Components

Cash and Cash Equivalents

Cash and cash equivalents consist of the following:


	December 31,
	2018		2017
	(in thousands)
Cash	$	822	$	556
Cash equivalents:
Money market accounts		105,224		99,792

Total cash and cash equivalents	$	106,046	$	100,348

In November 2016, the FASB issued new guidance ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, which requires the beginning-of-period and end-of-period totals on the statement of cash flows to include restricted cash and restricted cash equivalents, as well as disclosure of how the statement of cash flows reconciles to the balance sheet if restricted cash is shown separately from cash and cash equivalents on the balance sheet. The company adopted the guidance effective January 1, 2018 retrospectively to all periods presented. As a result, the consolidated statement of cash flows no longer presents transfers to or from restricted cash.

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows.


	December 31, 2018		December 31, 2017
	(in thousands)
Cash and cash equivalents	$	106,046	$	100,348
Restricted cash included in other assets		300		188

Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows	$	106,346	$	100,536

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:


	December 31,
	2018		2017
	(in thousands)
Prepaid research and development project costs	$	762	$	549
Other receivables		751		103
Prepaid insurance		555		478
Income taxes receivable		163		—
Other		475		247

Total prepaid expenses and other current assets	$	2,706	$	1,377

Property and Equipment, net

Property and equipment, net consists of the following:


	December 31,
	2018			2017
	(in thousands)
Software	$	325		$	254
Leasehold improvements		112			79
Computer equipment		89			93
Furniture and fixtures		3			3

Property and equipment, gross		529			429
Less: accumulated depreciation		(361	)		(275	)

Total property and equipment, net	$	168		$	154

Depreciation related to the Company’s property and equipment for the years ended December 31, 2018, 2017 and 2016 was $0.1 million, $0.3 million and $0.2 million, respectively.

Accrued Liabilities

Accrued liabilities consist of the following:


	December 31,
	2018		2017
	(in thousands)
Accrued research and development costs	$	4,485	$	2,763
Accrued employee related costs		3,223		2,699
Accrued professional fees		357		317
Accrued restructuring costs (Note 11)		33		137
Other		714		217

Total accrued liabilities	$	8,812	$	6,133