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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net loss $ (59,203) $ (11,962)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 750 963
Net amortization of premiums and discounts on investments (86) (87)
Stock-based compensation 5,183 3,610
Other non-cash items 110 65
Changes in operating assets and liabilities:    
Accounts receivable 0 161
Prepaid expenses and other current assets (2,460) 1,318
Other assets (700) 0
Accounts payable (2,766) (3,102)
Accrued expenses 2,367 (4,518)
Operating lease assets 1,235 1,290
Operating lease liabilities (990) (1,356)
Deferred revenue (817) (41,550)
Net cash used in operating activities (57,377) (55,168)
Cash flows from investing activities    
Maturities of marketable securities 37,500 10,500
Purchase of marketable securities 0 (53,688)
Purchase of property and equipment (285) (605)
Net cash provided by (used in) investing activities 37,215 (43,793)
Cash flows from financing activities    
Proceeds from exercise of stock options 1,732 121
Proceeds from purchases of common stock under ESPP 333 283
Proceeds from issuance of debt, net of issuance costs (197) 4,965
Payments under capital lease obligations (87) (58)
Net cash provided by financing activities 228,747 97,473
Increase (decrease) in cash, cash equivalents and restricted cash 208,585 (1,488)
Cash, cash equivalents and restricted cash, beginning of period 62,672 60,005
Cash, cash equivalents and restricted cash, end of period 271,257 58,517
Supplemental disclosures of non-cash activities:    
Debt financing costs in accrued expenses 0 180
Cash paid for interest 173 64
Right-of-use assets obtained in exchange for operating lease liabilities 9,980 4,778
Right-of-use assets obtained in exchange for financing lease liabilities 0 429
Public Stock Offering    
Cash flows from financing activities    
Net proceeds from public offering of common stock 163,990 92,162
ATM    
Cash flows from financing activities    
Net proceeds from public offering of common stock $ 62,976 $ 0