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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net loss $ (52,807) $ (33,285) $ (21,994)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation expense 2,050 759 492
Depreciation and amortization expense 103 103 71
Loss on transfer of nonfinancial assets 3,900 0 0
Non-cash lease expense 569 0 0
Accretion of debt discount 695 152 157
Loss on extinguishment of debt 566 229 0
Loss on preferred stock repurchase liability 0 0 587
Change in fair value of preferred stock warrant and derivative liability 105 3,487 (1,266)
Changes in operating assets and liabilities:      
Prepaid expenses, other current assets and research & development incentive receivable 109 279 402
Accounts payable (2,752) 1,307 (1,169)
Accrued expenses 160 1,549 1,409
Lease liabilities (753) 0 0
Net cash used in operating activities (48,055) (25,420) (21,311)
Cash flows from investing activities:      
Cash, cash equivalents and restricted cash acquired in connection with the Merger 26,406 0 0
Proceeds from transfer of non-financial assets 1,000 0 0
Purchase of property, equipment and intangible assets (174) 0 (378)
Net cash provided by (used in) investing activities 27,232 0 (378)
Cash flows from financing activities:      
Proceeds from exercise of stock options and warrants 792 7 9
Proceeds from borrowings under loan and security agreements, net of issuance costs 9,849 9,908 6,000
Proceeds from issuance of Series B convertible preferred stock, net of issuance costs 0 4,461 27,413
Repurchase of Series Seed convertible preferred stock 0 (1,126) 0
Repayments of borrowings under loan and security agreement (9,368) (6,380) 0
Proceeds from sale of common stock and warrants, net of issuance costs 139,388 0 0
Net cash provided by financing activities 140,661 6,870 33,422
Effect of exchange rate changes on cash, cash equivalents and restricted cash (250) 0 0
Net increase (decrease) in cash, cash equivalents and restricted cash 119,588 (18,550) 11,733
Cash, cash equivalents and restricted cash at beginning of period 8,498 27,048 15,315
Cash, cash equivalents and restricted cash at end of period 128,086 8,498 27,048
Supplemental disclosure of cash flow information      
Cash paid for interest 1,284 540 282
Supplemental disclosure of non-cash investing and financing activities:      
Purchase of property, equipment and intangible assets included in accounts payable 40 0 0
Issuance costs related to sale of common stock and warrants, not yet paid 775
Conversion of convertible preferred stock into common stock 64,675 0 0
Conversion of redeemable common stock into common stock 734 0 0
Conversion of convertible preferred stock warrants into common stock warrants 5,235 0 0
Fair value of net assets acquired in the Merger in exchange for common shares, excluding cash acquired 19,952 0 0
Initial fair value of derivative liability in connection with loan and security agreement 0 18 0
Issuance of warrants in connection with Series B convertible preferred stock financing 0 172 817
Issuance of warrants in connection with loan and security agreement $ 0 $ 132 $ 0