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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating Activities    
Net loss $ (41,568) $ (19,218)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 2,533 1,866
Depreciation and amortization 112 106
Loss on disposal of property and equipment   116
Changes in operating assets and liabilities:    
Prepaid and other current assets (477) (2,429)
Accounts payable 875 (378)
Accrued compensation and other accrued liabilities 2,944 234
Operating lease liability and right-of-use assets 57  
Deferred rent   167
Deferred revenue   (6)
Net cash flows used in operating activities (35,524) (19,542)
Investing Activities    
Proceeds from maturities of short-term investments 133,967 60,337
Purchase of short-term investments (106,950) (135,612)
Purchases of property and equipment (65) (201)
Net cash flows provided by (used in) investing activities 26,952 (75,476)
Financing Activities    
Payments for the redemption of redeemable convertible notes   (5,082)
Issuance of common stock for secondary public offering, net of issuance costs   106,762
Issuance of common stock from stock grants and option exercises 327 36
Proceeds from exercise of warrants   9,545
Net cash flow provided by financing activities 327 111,261
Net (decrease) increase in cash, cash equivalents and restricted cash (8,245) 16,243
Cash, cash equivalents and restricted cash at beginning of the period 31,263 19,805
Cash, cash equivalents and restricted cash at end of the period [1] 23,018 36,048
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Adoption of ASC 606   207
Conversion of redeemable convertible notes to common stock   3
Unrealized gain on investments 35 $ (24)
Right-of-use asset and operating lease liability recorded upon the adoption of ASC 842, net $ 2,052  
[1] The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the condensed consolidated balance sheets: