Statements of Cash Flows - USD ($)
|
12 Months Ended |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
| Cash flows from operating activities: |
|
|
|
| Net loss |
$ (16,516,000)
|
$ (54,664,000)
|
$ (24,455,000)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
| Loss (gain) on extinguishment of debt |
4,740,000
|
|
(1,900,000)
|
| Write-off of deferred offering costs |
445,000
|
|
|
| Stock-based compensation expense |
6,600,000
|
2,369,000
|
214,000
|
| Non-cash interest expense |
2,222,000
|
2,671,000
|
1,602,000
|
| Amortization of debt issuance costs and debt discount |
1,616,000
|
1,909,000
|
1,114,000
|
| Depreciation and amortization expense |
175,000
|
84,000
|
75,000
|
| Fair value adjustment |
(32,465,000)
|
27,276,000
|
7,223,000
|
| Loss on disposal of fixed assets |
91,000
|
|
|
| Change in assets and liabilities: |
|
|
|
| Prepaid expenses and other assets |
2,018,000
|
(1,228,000)
|
523,000
|
| Accounts payable and accrued expenses |
1,118,000
|
1,315,000
|
933,000
|
| Other long-term liabilities |
184,000
|
|
|
| Net cash used in operating activities |
(29,772,000)
|
(20,268,000)
|
(14,671,000)
|
| Cash flows from investing activities: |
|
|
|
| Purchases of property and equipment |
(643,000)
|
(135,000)
|
(47,000)
|
| Restricted cash for collateral |
(1,100,000)
|
|
|
| Purchases of marketable securities and long-term investments |
(89,849,000)
|
(19,002,000)
|
|
| Maturities of marketable securities and long-term investments |
44,645,000
|
|
|
| Net cash used in investing activities |
(46,947,000)
|
(19,137,000)
|
(47,000)
|
| Cash flows from financing activities: |
|
|
|
| Proceeds from issuance of debt, net of discounts and commissions |
82,800,000
|
|
25,000,000
|
| Repayment of term notes and related accrued interest |
(18,621,000)
|
|
|
| Payment of principal on convertible notes arising from capitalized interest |
(1,931,000)
|
|
|
| Payment of deferred offering costs |
(164,000)
|
(315,000)
|
(1,767,000)
|
| Payment of debt and stock issuance costs |
(983,000)
|
(2,533,000)
|
(163,000)
|
| Repayment of obligations under capital lease |
(79,000)
|
(32,000)
|
(31,000)
|
| Proceeds from exercise of warrants |
141,000
|
413,000
|
|
| Proceeds from initial public offering, net of discounts and commissions |
|
59,892,000
|
|
| Repayment of line of credit |
|
|
(35,000)
|
| Net cash provided by financing activities |
61,163,000
|
61,468,000
|
23,004,000
|
| Net (decrease) increase in cash and cash equivalents |
(15,556,000)
|
22,063,000
|
8,286,000
|
| Cash and cash equivalents, beginning of year |
32,318,000
|
10,255,000
|
1,969,000
|
| Cash and cash equivalents, end of year |
16,762,000
|
32,318,000
|
10,255,000
|
| Supplemental cash flow information: |
|
|
|
| Cash paid for interest |
3,289,000
|
|
3,000
|
| Transfer of warrants to equity upon exercise |
755,000
|
4,293,000
|
|
| Fixed assets included in accounts payable and accrued expenses |
281,000
|
|
|
| Deferred offering costs included in accounts payable and accrued expenses |
85,000
|
428,000
|
315,000
|
| Fixed assets financed under a capital lease agreement |
867,000
|
|
|
| Trade date receivables |
5,003,000
|
|
|
| Unpaid offering costs charged to equity |
|
3,276,000
|
|
| Conversion of preferred stock into common stock upon initial public offering |
|
28,207,000
|
|
| Reclassification of 2013 warrants to equity |
|
1,110,000
|
|
| Embedded put option on Deerfield warrant |
|
|
220,000
|
| Issuance of Series D preferred stock as transaction fee |
|
|
1,500,000
|
| Conversion of 2013 convertible notes and interest into Series D preferred stock |
|
|
4,159,000
|
| Issuance of 2013 warrants and Deerfield warrant |
|
|
7,610,000
|
| Series D-1 Redeemable Convertible Preferred Stock [Member] |
|
|
|
| Cash flows from financing activities: |
|
|
|
| Proceeds from issuance of Series D-1 redeemable convertible preferred stock |
|
4,000,000
|
|
| Series D Redeemable Convertible Preferred Stock [Member] |
|
|
|
| Cash flows from financing activities: |
|
|
|
| Proceeds from exercise of warrants |
|
$ 43,000
|
|