Balance Sheet Components

3 Months Ended

Mar. 31, 2019

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:

	March 31, 2019		December 31, 2018
	(in thousands)
Cash	$	670	$	822
Cash equivalents:
Money market accounts		90,238		105,224
Total cash and cash equivalents	$	90,908	$	106,046

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

	March 31, 2019		March 31, 2018
	(in thousands)
Cash and cash equivalents	$	90,908	$	133,829
Restricted cash included in other assets		300		175
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statement of cash flows	$	91,208	$	134,004

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:

	March 31, 2019		December 31, 2018
	(in thousands)
Other receivables	$	1,487	$	751
Prepaid research and development project costs		1,050		762
Prepaid insurance		371		555
Income taxes receivable		138		163
Other		653		475
Total prepaid expenses and other current assets	$	3,699	$	2,706

Property and Equipment, net

Property and equipment, net consists of the following:

	March 31, 2019			December 31, 2018
	(in thousands)
Software	$	327		$	325
Leasehold improvements		112			112
Computer equipment		89			89
Furniture and fixtures		3			3
Property and equipment, gross		531			529
Less: accumulated depreciation		(381	)		(361	)
Total property and equipment, net	$	150		$	168

Depreciation related to the Company’s property and equipment was $21,000 and $29,000 for the three months ended March 31, 2019 and 2018, respectively.

Accrued and Other Liabilities

Accrued and other liabilities consist of the following:

	March 31, 2019		December 31, 2018
	(in thousands)
Accrued research and development costs	$	3,995	$	4,485
Accrued employee-related costs		1,233		3,223
Accrued professional fees		704		357
Operating lease liabilities		171		—
Current portion of term loan		168		—
Accrued restructuring costs		30		33
Other		318		714
Total accrued and other liabilities	$	6,619	$	8,812