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CONDENSED 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 $ (65,984) $ (38,389) $ (48,555)
Adjustments to reconcile net loss to net cash used in operating activities:      
Loss from disposition of assets   4  
Non-employee stock option expense     143
Stock-based compensation 10,720 6,847 5,442
Issuance of common stock for services rendered 150 172 122
Accretion of discounts and premiums on investments 94 566 599
Depreciation and amortization expense 746 656 488
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (1,962) 1,064 (1,889)
Accounts payable, accrued expenses, and other liabilities 1,674 1,988 (1,709)
Deferred revenue (697) (1,111) 2,373
Net cash used in operating activities (55,259) (28,203) (42,986)
Cash Flows from Investing Activities:      
Purchases of available-for-sale securities   (2,946) (63,106)
Proceeds from maturity of available-for-sale securities 28,270 32,746 29,420
Proceeds from sale of available-for-sale securities   1,974 999
Purchases of property and equipment (206) (408) (727)
Net cash provided by (used in) investing activities 28,064 31,366 (33,414)
Cash Flows from Financing Activities:      
Proceeds from equity financings, net of issuance costs 53,763 49,014 80,599
Proceeds from exercise of common stock warrants and options and employee stock purchases 5,697 2,172 2,546
Payments on note payable (292) (261) (120)
Payments on capital lease (11) (7) (10)
Net cash provided by financing activities 59,157 50,918 83,015
Net increase in cash and cash equivalents 31,962 54,081 6,615
Cash and cash equivalents, beginning of period 80,667 26,586 19,971
Cash and cash equivalents, end of period $ 112,629 $ 80,667 $ 26,586