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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
 [1]
Current assets:    
Cash and cash equivalents $ 71,213 $ 74,598
Short-term investments 102,210 126,225
Prepaid expenses and other current assets 4,585 3,169
Total current assets 178,008 203,992
Property and equipment, net 8,915 8,991
Other assets 842 148
Total assets 187,765 213,131
Current liabilities:    
Accounts payable 5,893 5,635
Accrued compensation and benefits 1,856 3,161
Accrued and other liabilities 11,565 10,405
Total current liabilities 19,314 19,201
Other long-term liabilities 767 779
Total liabilities 20,081 19,980
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.0001 par value; 5,000,000 shares authorized as of March 31, 2017 and December 31, 2016, respectively; no shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively.
Common stock, $0.0001 par value; 300,000,000 shares authorized as of March 31, 2017 and December 31, 2016, respectively; 47,386,756 and 47,309,422 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively. 5 5
Additional paid-in capital 409,610 407,092
Accumulated deficit (241,883) (213,875)
Accumulated other comprehensive loss (48) (71)
Total stockholders' equity 167,684 193,151
Total liabilities and stockholders' equity $ 187,765 $ 213,131
[1] Derived from the audited financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2016.