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Statement of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flow from operating activities      
Net loss $ (40,193) $ (29,672) $ (16,317)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation expense 6,310 4,027 425
Depreciation 612 600 184
Amortization of premiums and discounts on marketable securities 696 452  
Change in fair value of preferred stock tranche liability   9,750 1,949
Non-cash interest on convertible promissory notes payable     2
Expense related to shares issued in connection with services performed     250
In-kind research and development expenses 1,182 2,316  
Other non-cash items 709 (277) 342
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (847) (234) (1,185)
Other non-current assets 7 14 (7)
Deferred revenue (14,582) 52,666  
Accounts payable (62) (942) 604
Accrued expenses 2,636 2,788 537
Other non-current liabilities   (189) 186
Lease incentive benefit 1,050   1,112
Net cash provided by (used in) operating activities (42,482) 41,299 (11,918)
Cash flow from investing activities      
Purchases of property and equipment (5,029) (1,030) (2,988)
Change in restricted cash (421)   (314)
Purchases of marketable securities (112,350) (220,399)  
Proceeds from maturities of marketable securities 165,100 26,660  
Net cash used in investing activities 47,300 (194,769) (3,302)
Cash flow from financing activities      
Proceeds from issuance of Series A redeemable convertible preferred stock and tranche rights, net of issuance costs   104,779 22,040
Proceeds from issuance of common stock and restricted stock   72,955  
Proceeds from the exercise of stock options 514 10 80
Net cash provided by financing activities 514 177,744 22,120
Net increase in cash and cash equivalents 5,332 24,274 6,900
Cash and cash equivalents, beginning of period 31,309 7,035 135
Cash and cash equivalents, end of period 36,641 31,309 7,035
Supplemental Disclosure of Cash and non-cash Activities      
Capital expenditures incurred but not yet paid $ 242    
Accretion of redeemable convertible preferred stock to redemption value   7,373 1,366
Exchange of promissory notes payable and accrued interest into Series A redeemable convertible preferred stock and tranche rights     $ 2,929
Conversion of redeemable convertible preferred stock to common stock   $ 150,187