CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 18,356	$ 14,811
Short-term investments	93,934	66,706
Tax incentive receivable		870
Prepaid expenses and other current assets	5,280	1,465
Total current assets	117,570	83,852
Property and equipment, net	934	568
Acquired intangible asset	2,258	2,258
Goodwill	881	881
Right-of-use lease asset	815
Other assets	918	497
Total assets	123,376	88,056
Current liabilities:
Accounts payable	3,945	3,867
Accrued expenses	5,452	2,577
Lease liability	297
Total current liabilities	9,694	6,444
Royalty purchase liability	43,251	20,220
Deferred rent		12
Lease liability, net of current portion	534
Deferred tax liability	289	298
Total liabilities	53,768	26,974
Commitments (Note 8)
Redeemable convertible preferred stock, $0.001 par value: 96,385,795 shares authorized, issued and outstanding at December 31, 2018.		165,902
Stockholders’ equity (deficit):
Preferred stock, $0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding.
Common stock, $0.001 par value: 200,000,000 shares authorized; 24,811,567 and 300,597 shares issued and outstanding at December 31, 2019 and 2018, respectively.	25
Additional paid-in capital	230,895
Accumulated other comprehensive income	38	3
Accumulated deficit	(161,350)	(104,823)
Total stockholders’ equity (deficit)	69,608	(104,820)
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit)	$ 123,376	88,056
Redeemable Convertible Preferred Stock
Current liabilities:
Redeemable convertible preferred stock, $0.001 par value: 96,385,795 shares authorized, issued and outstanding at December 31, 2018.		$ 165,902