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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities      
Net loss $ (84,979) $ (95,817) $ (82,177)
Adjustments to reconcile net loss to net cash used in operating activities      
Depreciation and amortization 311 215 194
Stock-based compensation expense 13,349 10,923 10,699
Changes in assets and liabilities      
Prepaid expenses and other assets 3,940 (1,626) 317
Accounts payable 142 (315) 413
Accrued and other liabilities (8,805) 5,742 1,490
Income taxes payable (247) 247  
Upfront payment from collaboration partner (40,000) 40,000  
Net cash used in operating activities (116,289) (40,631) (69,064)
Cash flows from investing activities      
Purchase of property and equipment (745) (90)  
Leasehold improvements for build-to-suit asset (3,558)    
Security deposit for facility lease     (42)
Change in restricted cash (2,383)    
Net cash used in investing activities (6,686) (90) (42)
Cash flows from financing activities      
Proceeds from issuance of common stock in follow-on offering, net of issuance costs   59,136 80,209
Proceeds from issuance of common stock in connection with employee benefit plans 2,968 669 400
Net cash provided by financing activities 2,968 59,805 80,609
Net (decrease) increase in cash and cash equivalents (120,007) 19,084 11,503
Cash and cash equivalents at beginning of period 201,153 182,069 170,566
Cash and cash equivalents at end of period 81,146 $ 201,153 $ 182,069
Supplemental disclosure of noncash items      
Build-to-suit lease transaction $ 5,428