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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net loss $ (14,120) $ (13,588)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 31 38
Loss on retirement of property and equipment   5
Accretion and amortization on investments, net (111) 144
Change in fair value of equity investment, including foreign currency translation 513  
Stock-based compensation for services by non-employees 120 115
Stock-based compensation for employees and directors 3,159 4,058
Amortization related to 401(k) contributions 10 32
Changes in assets and liabilities:    
Current assets 146 (5,954)
Current liabilities (1,611) 3,405
Net cash used in operating activities (11,863) (11,745)
Cash flows from investing activities:    
Purchases of marketable securities (107,067) (60,436)
Proceeds from maturities of marketable securities 37,850 65,940
Net cash (used in) provided by investing activities (69,217) 5,504
Cash flows from financing activities:    
Proceeds from issuances of common stock, net of issuance costs 83,873 37
Net cash provided by financing activities 83,873 37
Net increase (decrease) in cash, cash equivalents and restricted cash 2,793 (6,204)
Cash, cash equivalents and restricted cash at the beginning of the period 16,603 13,078
Cash, cash equivalents and restricted cash at the end of the period $ 19,396 $ 6,874