The following tables summarize the effects of adopting ASC topic 606 on our financial statements.


	As Reported December 31,		Effect of Adoption of		As Revised December 31,
	2017		ASC 606		2017

Assets
Current assets
Cash and cash equivalents	$	16,528	$	—	$	16,528
Marketable securities		207,603		—		207,603
Accounts receivable		1,142		—		1,142
Prepaid expenses and other current assets		5,606		—		5,606
Total current assets		230,879		—		230,879
Property and equipment, net		7,088		—		7,088
Patents, licenses, and other intangible assets, net		11,148		—		11,148
Marketable securities - long term		139,198		—		139,198
Income tax receivable		1,524		—		1,524
Loan receivable		—		86		86
Interest receivable		—		14		14
Other assets		265		—		265
Total assets	$	390,102	$	100	$	390,202
Liabilities and stockholders’ equity
Current liabilities
Accounts payable	$	6,869	$	—	$	6,869
Accrued expenses		5,480		—		5,480
Current portion of deferred rent		26		—		26
Current portion of deferred revenue		88,813		(28,695)		60,118
Income taxes		157		—		157
Total current liabilities		101,345		(28,695)		72,650
Deferred rent, less current portion		1,088		—		1,088
Deferred revenue, less current portion		5,623		(5,623)		—
Total liabilities		108,056		(34,318)		73,738
Commitments and contingencies
Stockholders’ equity
Preferred stock, $0.01 par value: 10,000,000 authorized shares; -0- issued and outstanding shares at December 31, 2017		—		—		—
Common stock, $0.01 par value: 200,000,000 authorized shares at December 31, 2017; 47,002,488 issued and outstanding at December 31, 2017		470		—		470
Additional paid-in capital		570,670		—		570,670
Accumulated other comprehensive income loss		(1,808)		—		(1,808)
Accumulated deficit		(287,286)		34,418		(252,868)
Stockholders’ equity		282,046		34,418		316,464
Total liabilities and stockholders’ equity	$	390,102	$	100	$	390,202


	As Reported				As Revised
	Three Months Ended		Effect of		Three Months Ended
	September 30,		Adoption of		September 30,
	2017		ASC 606		2017

Revenue
Collaborations, licenses and milestones	$	7,090	$	(7,090)	$	—
Operating expenses
Research and development		19,408		—		19,408
General and administrative		4,172		—		4,172
Total operating expenses		23,580		—		23,580
Loss from operations		(16,490)		(7,090)		(23,580)
Other income (expenses)
Interest income		1,048		—		1,048
Interest expense		(3)		—		(3)
Other income		56		—		56
Total other income, net		1,101		—		1,101

Loss before income tax expense		(15,389)		(7,090)		(22,479)
Income tax expense		173		—		173
Net loss		(15,562)		(7,090)		(22,652)

Other comprehensive income (loss)
Net unrealized loss on marketable securities		143		—		143
Comprehensive loss	$	(15,419)	$	(7,090)	$	(22,509)

Basic and diluted net loss per common share	$	(0.33)	$	(0.15)	$	(0.48)


	As Reported				As Revised
	Nine Months Ended		Effect of		Nine Months Ended
	September 30,		Adoption of		September 30,
	2017		ASC 606		2017

Revenue
Collaborations, licenses and milestones	$	24,771	$	(8,771)	$	16,000
Operating expenses
Research and development		51,376		—		51,376
General and administrative		13,074		—		13,074
Total operating expenses		64,450		—		64,450
Loss from operations		(39,679)		(8,771)		(48,450)
Other income (expenses)
Interest income		3,142		—		3,142
Interest expense		(8)		—		(8)
Other income		86		—		86
Total other income, net		3,220		—		3,220

Loss before income tax expense		(36,459)		(8,771)		(45,230)
Income tax expense		623		—		623
Net loss		(37,082)		(8,771)		(45,853)

Other comprehensive income (loss)
Net unrealized gain on marketable securities		344		—		344
Comprehensive loss	$	(36,738)	$	(8,771)	$	(45,509)

Basic and diluted net loss per common share	$	(0.79)	$	(0.19)	$	(0.98)


						Accumulated
				Additional		Other				Total
	Common Stock			Paid		Comprehensive		Accumulated		Stockholders’
Stockholders’ Equity	Shares	Amount		in-Capital		Loss		Deficit		Equity
Balance, December 31, 2016 as originally reported	46,567,978	$	466	$	552,889	$	(1,441)	$	(237,960)	$	313,954
Adoption of ASU 2016-09	—		—		401		—		(401)		—
Adoption of ASC 606	—		—		—		—		23,979		23,979
Balance, December 31, 2016 as revised	46,567,978		466		553,290		(1,441)		(214,382)		337,933
Issuance of common stock upon exercise of stock awards	363,603		4		2,793		—		—		2,797
Issuance of common stock under the Employee Stock Purchase Plan	70,907		—		936		—		—		936
Comprehensive loss	—		—		—		(367)		(48,925)		(49,292)
Stock-based compensation	—		—		13,651		—		—		13,651
Balance, December 31, 2017	47,002,488	$	470	$	570,670	$	(1,808)	$	(263,307)	$	306,025
Adoption of ASC topic 606	—		—		—		—		10,439		10,439
Balance, December 31, 2017 as revised	47,002,488	$	470	$	570,670	$	(1,808)	$	(252,868)	$	316,464


	As Reported				As Revised
	Nine Months Ended		Effect of		Nine Months Ended
	September 30,		Adoption of		September 30,
	2017		ASC 606		2017
Cash flows from operating activities
Net loss	$	(37,082)	$	(8,771)	$	(45,853)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization		1,420		—		1,420
Amortization of premium on marketable securities		2,148		—		2,148
Stock-based compensation		10,211		—		10,211
Abandonment of capitalized intangible assets		273		—		273
Gain on disposal of assets		(2)		—		(2)
Gain on sale of marketable securities available for sale		—		—		—
Changes in operating assets and liabilities:
Accounts receivable		7,785		—		7,785
Interest receivable		(588)		(14)		(602)
Prepaid expenses and other assets		(3,971)		—		(3,971)
Accounts payable		2,722		—		2,722
Accrued expenses		(2,056)		—		(2,056)
Income taxes		(65)		—		(65)
Deferred rent		359		—		359
Deferred revenue		(8,171)		8,871		700
Net cash used in operating activities		(27,017)		86		(26,931)
Cash flows from investing activities
Purchase of marketable securities		(49,203)		—		(49,203)
Purchase of intangible assets		(1,520)		—		(1,520)
Purchase of property and equipment		(3,834)		—		(3,834)
Proceeds from sale of property and equipment		2		—		2
Proceeds from sale and maturities of marketable securities		77,566		—		77,566
Issuance of loan		—		(86)		(86)
Net cash provided by investing activities		23,011		(86)		22,925
Cash flows from financing activities
Proceeds from issuance of common stock upon exercise of stock awards		2,669		—		2,669
Proceeds from issuance of common stock under the Employee Stock Purchase Plan		443		—		443
Net cash provided by financing activities		3,112		—		3,112
Net increase in cash and cash equivalents		(894)		—		(894)
Cash and cash equivalents, beginning of period		14,528		—		14,528
Cash and cash equivalents, end of period	$	13,634	$	—	$	13,634