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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities:      
Net loss $ (101,252) $ (65,782) $ (55,144)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 770 704 483
Loss (gain) on disposal of property and equipment 7 (12) 17
Stock-based compensation expense 9,396 12,621 8,487
Amortization of debt issuance costs 885 876 558
Amortization of premium/discount on investments 110 157 523
Change in fair value of foreign currency derivative 1,049 966 (811)
Changes in operating assets and liabilities:      
Receivables 1,824 2,651 (2,525)
Inventory (1,649) 500 1,112
Prepaid expenses and other assets (1,009) 877 3,702
Deferred collaboration expense 143 74 71
Accounts payable and accrued expenses 4,487 3,842 (10,524)
Interest payable (247) 3,105 2,244
Deferred revenue (7,079) (1,722) (1,631)
Net cash used in operating activities: (92,565) (41,143) (53,438)
Investing activities:      
Acquisition of property and equipment (366) (328) (5,277)
Proceeds from sale of property and equipment 12 4
Purchases of investments (62,614) (107,787) (14,106)
Sales and maturities of investments 67,748 43,461 42,652
Net cash provided by (used in) investing activities: 4,768 (64,642) 23,273
Financing activities:      
Sale of common stock, net 53,400 134,000
Net proceeds from common stock issued under stock-based compensation plans 2,852 1,581 317
Proceeds from senior credit facility 10,353 22,658
Payment of senior credit facility (4,025)
(Decrease) increase in lease financing obligation (76) 122 329
Net cash provided by financing activities: 62,504 135,703 23,304
(Decrease) increase in cash, cash equivalents and restricted cash (25,293) 29,918 (6,861)
Cash, cash equivalents and restricted cash at beginning of year 53,568 23,650 30,511
Cash, cash equivalents and restricted cash at end of year $ 28,275 $ 53,568 $ 23,650