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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities      
Net loss $ (158,987) $ (94,495) $ (33,811)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation expense 23,020 15,240 2,512
Non-cash licensing and consulting fees   1,211 127
Premium on marketable securities (756)    
Amortization of premium on marketable securities 286    
Depreciation 281 115 51
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (3,362) (681) (715)
Accounts payable 7,796 2,590 441
Accrued expenses and other liabilities 13,044 5,339 4,353
Net cash used in operating activities (118,678) (70,681) (27,042)
Cash flows from investing activities      
Proceeds from sales and maturities of marketable securities 30,499    
Purchases of marketable securities (259,093)    
Purchases of property and equipment (1,421) (198) (128)
Increase in restricted cash (525)    
Net cash used in investing activities (230,540) (198) (128)
Cash flows from financing activities      
Proceeds from stock option exercises and employee stock purchase plan issuances 1,406 730 40
Payments of offering costs (599) (584) (2,285)
Proceeds from public offerings of common stock, net of commissions and underwriting discounts 330,175 129,720 96,255
Net cash provided by financing activities 330,982 129,866 146,870
Net increase (decrease) in cash and cash equivalents (18,236) 58,987 119,700
Cash and cash equivalents at beginning of period 186,753 127,766 8,066
Cash and cash equivalents at end of period 168,517 186,753 127,766
Supplemental disclosure of non-cash financing activities      
Accretion of redeemable convertible preferred stock to redemption value     2,294
Conversion of preferred stock to common stock     92,863
Purchases of property and equipment included in accounts payable $ 8    
Public offering costs included in accounts payable or accrued expenses   $ 165  
Series A Preferred Stock [Member]      
Cash flows from financing activities      
Proceeds from the issuance of preferred stock, net of issuance costs     14,970
Series B Preferred Stock [Member]      
Cash flows from financing activities      
Proceeds from the issuance of preferred stock, net of issuance costs     $ 37,890