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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net loss $ (1,420) $ (27,099)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 9,953 5,600
Depreciation of property and equipment 275 276
Amortization of right-of-use assets 695 523
Non-cash interest expense (income), net 424 (1,061)
Changes in assets and liabilities:    
Accounts receivable, other 20 0
Accounts receivable due from related party (72) 2,058
Prepaids and other current assets (388) (340)
Other assets 254 117
Accounts payable 370 8
Other liabilities (809) 29
Deferred revenue from related party (55,066) (13,272)
Net cash used in operating activities (45,764) (33,161)
Investing activities    
Purchases of property and equipment, net (2,130) (236)
Purchases of investments (100,708) (154,889)
Sales of investments 0 4,967
Maturities of investments 91,830 116,270
Net cash used in investing activities (11,008) (33,888)
Financing activities    
Proceeds from issuance of common stock 325,654 73,276
Proceeds from exercise of stock options and employee stock purchase plan 24,495 5,604
Employees' tax withheld and paid for restricted stock units (3,709) (1,174)
Borrowings under credit facility agreement, net of issuance costs 4,358 0
Net cash provided by financing activities 350,798 77,706
Net increase in cash, cash equivalents and restricted cash 294,026 10,657
Cash, cash equivalents and restricted cash at beginning of period 40,259 28,088
Cash, cash equivalents and restricted cash at end of period 334,285 38,745
Supplemental disclosures of cash flow information    
Cash paid for interest 913 871
Right-of-use assets obtained in exchange for lease obligations [1] 27,078 2,796
Purchases of property and equipment, net recorded in accounts payable and accrued liabilities $ 1,560 $ 0
[1]

Amount for the six months ended June 30, 2019 includes the transition adjustment of $1,301 for the adoption of Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842).