Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
| CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
| Net loss |
$ (32,024)
|
$ (22,793)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation |
1,614
|
726
|
| Deferred rent and lease incentive |
(322)
|
541
|
| Impairment of intangible asset |
310
|
60
|
| Stock-based compensation |
1,228
|
547
|
| Warrant expense |
11
|
|
| Non-cash up front fee for note payable to Intrexon, including interest |
|
10,100
|
| Change in fair value of liabilities |
|
(10,007)
|
| Amortization of deferred financing costs |
|
38
|
| Changes in operating assets and liabilities: |
|
|
| Prepaid expenses and other current assets |
475
|
(226)
|
| Other non-current assets |
|
402
|
| Accounts payable |
(2,633)
|
2,026
|
| Accrued expenses |
(232)
|
648
|
| Accrued expenses due to Intrexon |
1,539
|
|
| Net cash used in operating activities |
(30,034)
|
(17,938)
|
| CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
| Purchases of property and equipment |
(1,949)
|
(3,321)
|
| Net cash used in investing activities |
(1,949)
|
(3,321)
|
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
| Proceeds from IPO, net of underwriters' fee of $4,550 |
|
60,450
|
| Proceeds from overallotment, net of issuance costs |
4,738
|
|
| Proceeds from bridge financing |
|
1,000
|
| Borrowings under equipment term loan |
|
1,750
|
| Payment on equipment term loan |
(406)
|
|
| Issuance of Series A-1 preferred stock, net of issuance costs of $73 |
|
10,314
|
| Costs associated with Initial Public Offering |
|
(2,488)
|
| Proceeds from the exercise of common stock options |
39
|
26
|
| Net cash provided by financing activities |
4,371
|
71,052
|
| Net (decrease) increase in cash and cash equivalents |
(27,612)
|
49,793
|
| Cash and cash equivalents-Beginning of period |
58,527
|
8,734
|
| Cash and cash equivalents-End of period |
30,915
|
58,527
|
| Supplemental disclosure of Cash Flow Information: |
|
|
| Cash paid for taxes |
79
|
2
|
| Cash paid for interest |
$ 94
|
18
|
| Supplemental disclosure of noncash investing and financing activities: |
|
|
| Warrant issued in connection with an equipment term loan (Note 10) |
|
51
|
| Issuance of a note payable to Intrexon as consideration for license rights |
|
10,000
|
| Extinguishment of Net Sales Distribution Payment Liability redemption feature |
|
15,803
|
| Adjustment to fair value of Series A-1 Preferred Stock related to the third closing (Note 11) |
|
3,520
|
| IPO [Member] |
|
|
| Supplemental disclosure of noncash investing and financing activities: |
|
|
| Conversion of preferred stock into common stock upon closing of IPO |
|
70,905
|
| Conversion of convertible notes payable and accrued interest into common stock upon closing of IPO |
|
11,100
|
| Conversion of warrants, net settled, into common stock upon closing of IPO |
|
490
|
| Settlement of Other Liability into common stock upon closing of IPO |
|
612
|
| IPO closing costs included in accounts payable and accrued expenses |
|
$ 1,014
|