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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Operating activities:    
Net loss $ (27,379) $ (16,443)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 9,407 4,775
Depreciation expense 3,831 4,422
Net amortization of premiums and discounts on investments (1,107) 1,172
Loss on disposal of property and equipment 0 75
Changes in operating assets and liabilities:    
Taxes receivable 16,737 0
Prepaid expenses and other current assets 873 (17,416)
Other non-current assets 0 (266)
Accounts payable 562 373
Accrued expenses and other current liabilities (1,443) 4,120
Deferred revenue—related party (65,201) (71,644)
Deferred rent 107 (156)
Net cash used in operating activities (63,613) (90,988)
Investing activities:    
Purchases of investments (252,918) (179,874)
Proceeds from maturities of investments 336,694 141,322
Proceeds from sales of investments 3,997 15,638
Purchases of property and equipment (1,359) (15,107)
Net cash provided by (used in) investing activities 86,414 (38,021)
Financing activities:    
Proceeds from initial public offering of common stock, net of issuance costs 0 107,008
Proceeds from exercise of stock options 1,546 462
Net cash provided by financing activities 1,546 107,470
Net increase (decrease) in cash, cash equivalents and restricted cash 24,347 (21,539)
Cash, cash equivalents and restricted cash, beginning of period 24,829 46,368
Cash, cash equivalents and restricted cash, end of period 49,176 24,829
Non-cash investing and financing activities:    
Purchases of property and equipment in accounts payable and accrued expenses 31 170
Supplemental cash flow information:    
Cash paid for income taxes $ 0 $ 16,750