Balance Sheet Components

6 Months Ended

Jun. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Components

5. Balance Sheet Components

Cash and Cash Equivalents

Cash and cash equivalents consist of the following:

	June 30, 2020		December 31, 2019
	(in thousands)
Cash	$	2,256	$	1,288
Cash equivalents:
Money market accounts		120,977		146,240
Total cash and cash equivalents	$	123,233	$	147,528

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the condensed consolidated balance sheets to the amounts shown in the condensed consolidated statements of cash flows.

	June 30, 2020		June 30, 2019
	(in thousands)
Cash and cash equivalents	$	123,233	$	78,831
Restricted cash included in other assets		300		300
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statement of cash flows	$	123,533	$	79,131

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:

	June 30, 2020		December 31, 2019
	(in thousands)
Prepaid research and development project costs	$	420	$	853
Prepaid insurance		233		918
Other receivables		228		190
Other		511		408
Total prepaid expenses and other current assets	$	1,392	$	2,369

Property and Equipment, net

Property and equipment, net consists of the following:

	June 30, 2020			December 31, 2019
	(in thousands)
Software	$	364		$	352
Leasehold improvements		112			112
Computer equipment		89			89
Furniture and fixtures		3			3
Property and equipment, gross		568			556
Less: accumulated depreciation		(471	)		(443	)
Total property and equipment, net	$	97		$	113

Depreciation related to the Company’s property and equipment was $15,000 and $28,000 for the three and six months ended June 30, 2020 and $21,000 and $42,000 for the three and six months ended June 30, 2019.

Accrued and Other Liabilities

Accrued and other liabilities consist of the following:

	June 30, 2020		December 31, 2019
	(in thousands)
Accrued research and development costs	$	3,150	$	2,668
Accrued employee related costs		2,442		3,420
Accrued professional fees		854		817
Operating lease liability		185		187
Other		67		78
Total accrued and other liabilities	$	6,698	$	7,170