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
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating activities:    
Net loss $ (8,714) $ (7,994)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation 134 100
Stock-based compensation 1,004 752
Other 8 0
Changes in operating assets and liabilities 38,907 32,912
Net cash provided by operating activities 31,339 25,771
Investing activities:    
Purchases of property and equipment (414) (179)
Proceeds from maturity of investments 3,600 0
Purchases of investments (11,479) 0
Net cash used in investing activities (8,293) (179)
Financing activities:    
Proceeds from exercise of options 826 0
Proceeds from exercise of warrants 126 0
Issuance of common stock, net of issuance costs 47,207 0
Net cash provided by financing activities 48,159 0
Effect of exchange rate change on cash and cash equivalents 438 295
Net increase in cash and cash equivalents 71,643 25,886
Cash and cash equivalents at beginning of year 37,878 29,356
Cash and cash equivalents at end of year 109,521 55,242
Supplemental cash flow disclosures:    
Net unrealized loss on investments (697) 0
Property and equipment included in accounts payable $ 65 $ 613