Summary of significant accounting policies (Tables)

9 Months Ended

Sep. 30, 2018

Summary of Significant Accounting Policies

Schedule of cash, cash equivalents, and restricted cash

The following table presents cash, cash equivalents and restricted cash as reported on the condensed consolidated balance sheets that equal the total amounts on the condensed consolidated statements of cash flows (in thousands):



	September 30,
	2018		2017
Cash and cash equivalents	$	111,701	$	86,542
Restricted cash included in "Restricted cash and other non-current assets"		1,619		1,619
Total	$	113,320	$	88,161

Schedule of contract assets and liabilities

The following table presents changes in the Company’s deferred revenue balance as of January 1, 2018 resulting from adoption of ASC 606 (in thousands):


	Balance at December 31, 2017		Adjustments		Balance at January 1, 2018
Contract liabilities:
Deferred revenue	$	(107,963)	$	(474)	$	(108,437)

Schedule of accounts receivable and contract liabilities

The following table presents changes in the Company’s accounts receivable and contract liabilities for the nine months ended September 30, 2018 (in thousands):


For the nine months ended September 30, 2018	Balance at December 31, 2017		Additions		Deductions		Balance at September 30, 2018
Accounts receivable	$	679	$	1,189	$	(1,825)	$	43
Contract liabilities:
Deferred revenue	$	(107,963)	$	(9,986)	$	5,124	$	(112,825)

Schedule of change in contract assets and contract liabilities

During the three and nine months ended September 30, 2018, the Company recognized revenue as a result of the following (in thousands):


		Three Months Ended		Nine Months Ended
Revenue recognized in the period from:	September 30, 2018
Amounts included in deferred revenue at the beginning of the period	$	687	$	4,457
Performance obligations satisfied in previous periods	$	(1,255)	$	1,311

Schedule of financial statement line items for comparability purposes

The Company has included the following financial statement line items for comparability purposes as of and for the three and nine months ended September 30, 2018 (in thousands):


		Three Months Ended September 30, 2018
	As reported under Topic 606		Balances without adoption of ASC 606		Effect of Change
Collaboration and other research and development revenues	$	14,519	$	18,974	$	(4,455)
Operating loss	$	(16,258)	$	(11,803)	$	(4,455)
Net loss attributable to common stockholders	$	(15,238)	$	(10,783)	$	(4,455)
Net loss per share attributable to common stockholders, basic and diluted	$	(0.32)	$	(0.23)	$	(0.09)


		Nine Months Ended September 30, 2018
	As reported under Topic 606		Balances without adoption of ASC 606		Effect of Change
Collaboration and other research and development revenues	$	25,818	$	28,933	$	(3,115)
Operating loss	$	(87,474)	$	(84,359)	$	(3,115)
Net loss attributable to common stockholders	$	(84,899)	$	(81,784)	$	(3,115)
Net loss per share attributable to common stockholders, basic and diluted	$	(1.81)	$	(1.75)	$	(0.07)


		As of September 30, 2018
	As reported under Topic 606		Balances without adoption of ASC 606		Effect of Change
Deferred revenue, current	$	8,725	$	13,374	$	(4,649)
Deferred revenue, net of current portion	$	104,100	$	86,085	$	18,015
Accumulated deficit	$	(391,223)	$	(388,108)	$	(3,115)