XML 48 R5.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net loss $ (31,228) $ (10,858)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation expense 2,996 444
Non-cash interest expense 33 19
Depreciation expense 14 6
Unrealized foreign currency transaction losses (gains) 38 (64)
Premium on purchases of marketable securities (675)  
Amortization of premium on marketable securities 377  
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 202 (1,143)
Tax incentive receivable (687) 459
Accounts payable 2,014 97
Accrued expenses 1,442 791
Net cash used in operating activities (25,474) (10,249)
Cash flows from investing activities:    
Proceeds from maturities of marketable securities 79,717  
Purchases of marketable securities (158,632)  
Purchases of property and equipment (150) (11)
Deposits for leased property   (57)
Net cash used in investing activities (79,065) (68)
Cash flows from financing activities:    
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs   442
Proceeds from issuance of notes payable, net of issuance costs   7,386
Payments of debt offering costs   (49)
Proceeds from public offerings, net of commissions and underwriting discounts 130,044 102,672
Payments of public offering costs (473) (1,418)
Proceeds from exercise of common stock options and issuance of common stock pursuant to employee stock purchase plan 438  
Net cash provided by financing activities 130,009 109,033
Net increase in cash and cash equivalents 25,470 98,716
Cash and cash equivalents at beginning of period 58,103 35,517
Cash and cash equivalents at end of period 83,573 134,233
Supplemental disclosure of non-cash investing and financing activities:    
Accretion of redeemable convertible preferred stock to redemption values   92
Deferred offering costs included in accounts payable and accrued expenses   894
Conversion of redeemable preferred stock to common stock   104,331
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 304 $ 103