Financials

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Current Assets    
Cash and cash equivalents $ 107,099 $ 106,717
Short-term investments 40,098 59,753
Prepaid expenses and other current assets 5,396 3,042
Total Current Assets 152,593 169,512
Property and equipment, net 2,796 2,374
Total Assets 155,389 171,886
Current Liabilities    
Accounts payable 2,174 863
Accrued expenses 3,329 4,105
Total Current Liabilities 5,503 4,968
Commitments and contingencies (Note 9)
Stockholders' Equity    
Common stock, $0.000041666 par value; 150,000,000 shares authorized, 62,350,149 and 62,248,074 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively 3 3
Additional paid-in capital 327,673 323,994
Accumulated other comprehensive income 2 29
Accumulated deficit (177,800) (157,116)
Total Stockholders’ Equity 149,886 166,918
Total Liabilities and Stockholders’ Equity 155,389 171,886
Series B Preferred Stock [Member]    
Stockholders' Equity    
Preferred stock,Value 8 8
Series A Preferred Stock [Member]    
Stockholders' Equity    
Preferred stock,Value $ 0 $ 0

Source

v3.7.0.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenues $ 0 $ 0
Costs and expenses    
Research and development 16,623 4,192
General and administrative 4,259 2,818
Total costs and expenses 20,882 7,010
Loss from operations (20,882) (7,010)
Other income    
Interest income 198 126
Net Loss $ (20,684) $ (6,884)
Net Loss Per Common Share, Basic and Diluted $ (0.33) $ (0.14)
Weighted-Average Common Shares Outstanding, Basic and Diluted 62,286 48,548

Source

v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows From Operating Activities    
Net loss $ (20,684) $ (6,884)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 221 269
Amortization of premium on investments 28 0
Stock-based compensation expense 3,296 1,779
Changes in assets and liabilities:    
Prepaid expenses and other current assets (2,354) 84
Accounts payable 1,466 96
Accrued expenses (776) 104
Net cash used in operating activities (18,803) (4,552)
Cash Flows From Investing Activities    
Purchase of short- term investments 0 (29,273)
Maturities of short- term investments 19,600 39,155
Purchase of property and equipment (798) (2)
Net cash provided by investing activities 18,802 9,880
Cash Flows From Financing Activities    
Tax payments related to shares witheld for vested restricted stock awards (4) 0
Proceeds from the issuance of common stock upon exercise of warrants 156 0
Proceeds from the issuance of common stock upon exercise of options 231 0
Net cash provided by financing activities 383 0
Net increase in cash and cash equivalents 382 5,328
Cash and Cash Equivalents, Beginning of Period 106,717 33,587
Cash and Cash Equivalents, End of Period 107,099 38,915
Supplemental Disclosures of Cash Flow Information:    
Cash paid for income taxes 0 0
Interest paid 0 0
Supplemental disclosure of non-cash investing and financing activities:    
Unrealized (loss) gain on short-term investments (27) 20
Acquisitions of property and equipment under accounts payable $ (155) $ 0

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