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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities    
Net loss $ (60,133) $ (45,098)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 884 562
Stock-based compensation 9,911 7,782
Non-cash interest expense 2,406 0
Change in fair value of embedded derivative liability (531) 0
Net accretion of discounts and amortization of premiums of available-for-sale securities 216 (332)
Changes in assets and liabilities    
Accrued interest of available-for-sale securities (261) (119)
Inventory (75) 0
Prepaid expenses and other assets 356 (2,325)
Accounts receivable 791 515
Accounts payable 924 3,007
Accrued liabilities and other liabilities 3,509 (2,431)
Net cash used in operating activities (42,003) (38,439)
Cash flows from investing activities    
Purchases of property and equipment (936) (1,222)
Purchases of available-for-sale securities (56,524) (95,528)
Maturities of available-for-sale securities 60,250 46,795
Net cash provided by (used in) investing activities 2,790 (49,955)
Cash flows from financing activities    
Proceeds from issuance of long-term debt 34,600 0
Proceeds from public offerings, net of offering costs 0 61,822
Payment of debt issuance costs (623) 0
Proceeds from issuance of common stock upon exercise of stock options 3,192 2,918
Proceeds from employee stock purchase plan 430 326
Net cash provided by financing activities 37,599 65,066
Net decrease in cash and cash equivalents (1,614) (23,328)
Cash and cash equivalents at beginning of period 23,735 33,104
Cash and cash equivalents at end of period 22,121 9,776
Supplemental disclosure of noncash investing and financing activities    
Purchases of inventory in accounts payable and accrued expenses 337 0
Debt issuance costs in accounts payable and accrued expense 10 0
Purchases of property and equipment in accounts payable and accrued expense 51 227
Stock-based compensation capitalized in inventory $ 13 $ 0