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Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities    
Net loss $ (55,361) $ (23,200)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 1,552 864
Amortization of premium on marketable securities 406 1,356
Stock-based compensation 9,353 6,607
Abandonment of capitalized intangible assets 50 225
Changes in operating assets and liabilities:    
Accounts receivable (140) (6,260)
Interest receivable (595) (158)
Prepaid expenses and other assets (6,468) (4,727)
Accounts payable (1,953) 3,500
Accrued expenses 443 (2,708)
Income taxes (157) 390
Deferred rent 206 (12)
Deferred revenue   701
Net cash used in operating activities (52,664) (23,422)
Cash flows from investing activities    
Purchase of marketable securities (285,809) (33,440)
Purchase of intangible assets (882) (1,092)
Purchase of property and equipment (3,416) (1,256)
Proceeds from sale and maturities of marketable securities 112,526 53,866
Loan receivable 86 (86)
Net cash provided by (used in) investing activities (177,495) 17,992
Cash flows from financing activities    
Proceeds from issuance of common stock upon exercise of stock awards 2,915 1,680
Proceeds from issuance of common stock under the Employee Stock Purchase Plan 504 442
Proceeds from issuance of common stock 260,245  
Common stock issuance cost (14,741)  
Net cash provided by financing activities 248,923 2,122
Net increase (decrease) in cash and cash equivalents 18,764 (3,308)
Cash and cash equivalents, beginning of period 16,528 14,528
Cash and cash equivalents, end of period 35,292 11,220
Cash paid during the period for:    
Interest 6 5
Taxes 170 60
Supplemental disclosures of non-cash investing activities    
Unrealized gain on marketable securities, net of tax $ 200 $ 201