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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net loss $ (41,873) $ (32,703)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 3,970 3,679
Non-cash interest expense 340 376
Depreciation and amortization 288 281
Amortization of premiums and discounts on available-for-sale securities (432) (416)
Changes in operating assets and liabilities:    
Accounts receivable (84) 1,432
Prepaid expenses and other assets 126 51
Accounts payable 525 (335)
Accrued and other liabilities 1,084 791
Net cash used in operating activities (36,056) (26,844)
Cash flows from investing activities:    
Purchases of short-term investments (32,690) (62,462)
Maturities of short-term investments 61,000 33,000
Purchases of property and equipment (84) (445)
Net cash provided by (used in) investing activities 28,226 (29,907)
Cash flows from financing activities:    
Payments of principal on note payable (2,333) 0
Proceeds from the sale of common stock 2,283 44,529
Payment of issuance costs associated with the sale of common stock (77) (3,037)
Proceeds from stock purchases under employee stock purchase plan 110 242
Proceeds from the exercise of stock options 87 182
Net cash provided by financing activities 70 41,916
Net decrease in cash and cash equivalents (7,760) (14,835)
Cash and cash equivalents at beginning of period 32,606 47,441
Cash and cash equivalents at end of period 24,846 32,606
Supplemental disclosure of cash flow information    
Cash paid for interest 511 489
Change in unrealized gain (loss) on investments 3 (3)
Supplemental disclosure of non-cash investing and financing activities    
Change in unrealized gain (loss) on investments 3 (3)
Amortization of public offering costs $ 3 $ 55