Condensed Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 26,958	$ 89,713
Short-term marketable securities	39,300	0
Prepaid expenses and other current assets	818	829
Total current assets	67,076	90,542
Property and equipment, net	1,834	375
Long-term marketable securities	400	0
Restricted cash	2,431	0
Total assets	71,741	90,917
Current Liabilities:
Accounts payable	1,153	3,687
Accrued expenses	1,943	2,214
Total liabilities	3,096	5,901
Stockholders’ Equity (Deficit):
Preferred stock, $0.001 par value, 5,000,000 shares authorized at September 30, 2016 and December 31, 2015; 0 shares outstanding at September 30, 2016 and December 31, 2015	0	0
Common stock, $0.001 par value; 250,000,000 shares authorized at September 30, 2016 and December 31, 2015; 20,835,868 and 20,830,555 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively	21	21
Additional paid in capital	162,729	161,518
Accumulated other comprehensive loss	(8)	0
Accumulated deficit	(94,097)	(76,523)
Total stockholders’ equity	68,645	85,016
Total liabilities and stockholders’ equity	$ 71,741	$ 90,917

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Also includes the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Includes taxes payable related to state franchise taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

No definition available.