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Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenue:      
Collaboration revenue - related party [1] $ 32,100 $ 21,766  
Total revenue 32,100 21,766  
Operating expenses:      
Research and development expenses 89,455 81,989 $ 38,095
General and administrative expenses 34,040 32,616 16,761
Total operating expenses 123,495 114,605 54,856
Loss from operations (91,395) (92,839) (54,856)
Other income (expense):      
Interest income (expense), net 1,590 1,260 83
Other income 425    
Revaluation of preferred stock warrant liability     (7)
Total other income (expense), net 2,015 1,260 76
Net loss $ (89,380) $ (91,579) $ (54,780)
Net loss per share attributable to common stockholders, basic and diluted $ (2.21) $ (2.30) $ (2.33)
Weighted average common shares outstanding, basic and diluted 40,449,410 39,846,928 23,532,400
Other comprehensive income (loss):      
Unrealized gain (loss) on investments, net of tax of $0 $ 3 $ (179) $ 30
Total other comprehensive income (loss) 3 (179) 30
Comprehensive loss $ (89,377) $ (91,758) $ (54,750)
[1] In January 2016, the Company entered into a Collaboration and License Agreement with NHS for the development and commercialization of certain of its product candidates. In exchange for the license, NHS paid the Company an upfront cash payment of $120,000, which the Company received in February 2016 and is being recognized as revenue over the ten year performance period. During the quarter ended September 30, 2016, the Company received $10,000 from NHS related to achievement of a milestone within this agreement, which was recognized in full as related party collaboration revenue during 2016. During the quarter ended September 30, 2017, the Company received $20,000 from NHS related to achievement of a milestone within this agreement, which was recognized in full as related party collaboration revenue during 2017.