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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities      
Net (loss) income $ (55,489) $ (37,966) $ 17,859
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Stock-based compensation 11,638 10,833 8,748
Depreciation of property and equipment 550 512 418
Amortization of right-of-use assets 1,092 0 0
Noncash interest (income) expense, net (1,499) (1,071) 143
Changes in assets and liabilities:      
Accounts receivable, other (176) 0 0
Accounts receivable from related party 2,058 49,032 (20,885)
Prepaids and other current assets 719 (668) (727)
Other assets 61 (31) (80)
Accounts payable 188 (434) 729
Other liabilities 4,459 4,158 80
Deferred revenue from related party (33,724) (7,929) (1,407)
Net cash (used in) provided by operating activities (70,123) 16,436 4,878
Investing activities      
Purchases of property and equipment, net (790) (838) (723)
Purchases of investments (211,973) (192,480) (133,845)
Sales of investments 4,967 0 0
Maturities of investments 195,270 140,250 150,170
Net cash (used in) provided by investing activities (12,526) (53,068) 15,602
Financing activities      
Proceeds from issuance of common stock 73,276 0 0
Proceeds from exercise of stock options and employee stock purchase plan 22,857 10,467 3,269
Employees' tax withheld and paid for restricted stock units (1,313) (678) (429)
Borrowings under credit facility agreement, net of issuance costs 0 14,911 4,676
Net cash provided by financing activities 94,820 24,700 7,516
Net increase (decrease) in cash, cash equivalents and restricted cash 12,171 (11,932) 27,996
Cash, cash equivalents and restricted cash at beginning of period 28,088 40,020 12,024
Cash, cash equivalents and restricted cash at end of period 40,259 28,088 40,020
Supplemental disclosures of cash flow information      
Cash paid for interest 1,735 748 0
Right-of-use assets obtained in exchange for lease obligations [1] 2,796 0 0
Purchases of property and equipment, net recorded in accounts payable $ 378 $ 0 $ 0
[1] Amounts for the year ended December 31, 2019 include the transition adjustment of $1,301 for the adoption of Topic 842.