Unaudited Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 140,917	$ 133,930
Available for sale securities	55,525	155,348
Due from Novartis Pharma AG	674	3,531
Prepaid expenses and other current assets	2,738	3,078
Total current assets	199,854	295,887
Property and equipment, net	1,888	3,281
Other assets	46	462
Total assets	201,788	299,630
Current liabilities
Accrued research and development expenses	12,687	47,240
Accounts payable and accrued expenses	6,268	12,032
Deferred revenue	6,646	6,646
Total current liabilities	25,601	65,918
Deferred revenue, long-term	200,007	203,330
Royalty purchase liability	125,000	125,000
Total liabilities	350,608	394,248
Stockholders’ deficit
Preferred stock - $0.001 par value, 5,000,000 shares authorized, no shares issued or outstanding	0	0
Common stock - $0.001 par value, 200,000,000 shares authorized, 35,932,179 and 35,733,276 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively	36	36
Additional paid-in capital	515,615	504,517
Accumulated deficit	(664,285)	(598,959)
Accumulated other comprehensive loss	(186)	(212)
Total stockholders’ deficit	(148,820)	(94,618)
Total liabilities and stockholders’ deficit	$ 201,788	$ 299,630