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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows Used in Operating Activities      
Net loss $ (115,088) $ (90,137) $ (89,860)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 280 364 479
Accretion (amortization) of premiums and discounts on investments 2 (142) (897)
Stock-based compensation 10,264 8,060 6,466
Gain on remeasurement of the lease liability (362)    
Non-cash lease expense 1,134 1,506 1,366
Series A convertible preferred stock issued for research and development related to asset acquisition 40,875    
Changes in operating assets and liabilities:      
Receivables from collaborations 1,541 (1,059) 1,515
Prepaid expenses and other current assets 96 (58) (26)
Other assets   280 289
Accounts payable 1,656 (58) 816
Accrued liabilities (5,523) (1,590) 2,576
Lease liability (1,175) (1,478) (1,469)
Net cash used in operating activities (66,300) (84,312) (78,745)
Cash Flows Provided by (Used in) Investing Activities      
Purchases of investments   (57,059) (153,227)
Proceeds from the sale and maturity of investments 8,000 146,080 142,450
Purchase of property and equipment (147) (61) (7)
Net cash provided by (used in) investing activities 7,853 88,960 (10,784)
Cash Flows Provided by Financing Activities      
Proceeds from issuance of common stock upon public offering, net   33,464 53,760
Proceeds from issuance of common stock through at-the-market offerings, net 10,664 7,397 43,926
Issuance costs related to the issuance of convertible preferred stock (173)    
Proceeds from stock option exercises and employee stock plan purchases 177 1,200 1,222
Net cash provided by financing activities 10,668 42,061 98,908
Net (decrease) increase in cash, cash equivalents, and restricted cash (47,779) 46,709 9,379
Cash, cash equivalents, and restricted cash at beginning of period 107,586 60,877 51,498
Cash, cash equivalents, and restricted cash at end of period $ 59,807 $ 107,586 $ 60,877