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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities    
Net loss $ (125,353) $ (23,745)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 5,886 5,634
Stock-based compensation 11,064 9,126
Changes in operating assets and liabilities:    
Accounts receivable 570 (1,784)
Prepaid expenses 222 495
Other assets 168 (599)
Accounts payable and other liabilities (2,138) (133)
Accrued expenses 9,501 3,895
Lease exit liability (1,176) (2,473)
Deferred revenue (2,666) (4,920)
Deferred rent 6,482 (846)
Net cash used in operating activities (97,440) (15,350)
Cash flows from investing activities    
Purchases of marketable securities (89,124) (269,697)
Proceeds from sale and maturities of marketable securities 177,006 207,733
Purchases of property and equipment (18,645) (10,319)
Net cash provided by (used in) investing activities 69,237 (72,283)
Cash flows from financing activities    
Proceeds from issuance of common stock, net of offering costs 34,294 0
Proceeds from stock option exercises and ESPP purchases 695 1,362
Net cash provided by financing activities 34,989 1,362
Net change in cash and cash equivalents 6,786 (86,271)
Cash and cash equivalents at beginning of period 84,098 196,172
Cash and cash equivalents at end of period $ 90,884 $ 109,901