Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities    
Net loss $ (34,536) $ (14,280)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 25 18
Stock-based compensation expense 3,547 3,118
Net accretion and amortization of investments in marketable securities (777) 4
Non-cash interest associated with debt discount accretion 148 232
Loss on extinguishment of debt 407  
Change in fair value of warrant liability 4,741 3,198
Accretion of tenant improvement allowance (61)  
Changes in assets and liabilities:    
Receivable from collaboration 5,000  
Interest receivable and other current assets (279) 4
Prepaid expenses (923) 243
Other assets (729) (50)
Accounts payable 25 202
Accrued liabilities 4,191 (772)
Accrued interest payable (43) (11)
Net cash used in operating activities (19,264) (8,094)
Investing activities    
Purchases of property and equipment (46)  
Purchases of marketable securities (185,925) (9,822)
Proceeds from maturities of marketable securities 93,482 9,100
Net cash used in investing activities (92,489) (722)
Financing activities    
Proceeds from issuance of common stock, net of issuance costs 135,520 9,364
Proceeds from issuance of common stock pursuant to equity award plans 3,521  
Proceeds from issuance of common stock upon exercise of warrants 1,037  
Repayment of facility loan principal (6,527) (1,534)
Payment of fees to extinguish facility loan (126)  
Net cash provided by financing activities 133,425 7,830
Net increase (decrease) in cash and cash equivalents 21,672 (986)
Cash and cash equivalents at beginning of period 23,054 10,495
Cash and cash equivalents at end of period 44,726 9,509
Supplemental disclosure    
Cash paid for interest 231 $ 367
Supplemental non-cash investing and financing activities    
Lessor funded lease incentives included in other current assets 2,100  
Issuance of common stock upon warrant exercises $ 5,200