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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating activities    
Net loss $ (17,019) $ (28,008)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 674 594
Amortization of deferred financing costs 14 72
Amortization of deferred compensation for services 50 46
Amortization of premium on investment securities (75) (48)
Stock-based compensation 2,425 2,109
Changes in operating assets and liabilities:    
Accounts receivable 10,796  
Prepaid expenses and other assets 2,005 (2,228)
Accounts payable (2,117) 858
Accrued compensation and benefits (1,612) (1,305)
Accrued and other liabilities (1,945) 1,149
Net cash used in operating activities (6,804) (26,761)
Investing activities    
Proceeds from maturities of investments 37,085 31,872
Sales and redemptions of investments 850 10,482
Purchases of investments (39,015) (18,268)
Purchases of property and equipment (55) (1,118)
Net cash (used in) provided by investing activities (1,135) 22,968
Financing activities    
Proceeds from issuance of common stock under stock plans 301 408
Net cash provided by financing activities 301 408
Net decrease in cash and cash equivalents (7,638) (3,385)
Cash and cash equivalents at beginning of period 75,383 [1] 74,598
Cash and cash equivalents at end of period $ 67,745 $ 71,213
[1] Derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10K for the year ended December 31, 2017.