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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities        
Net loss     $ (31,603) $ (9,379)
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation expense     4,636 450
Depreciation and amortization expense $ 5 $ 4 13 13
Changes in operating assets and liabilities:        
Prepaid expenses and other current assets     (2,781) (41)
Accounts payable     3,689 (290)
Accrued expenses and other liabilities     4,259 361
Net cash used in operating activities     (21,787) (8,886)
Cash flows from investing activities        
Additions to property and equipment     (21) (2)
Net cash used in investing activities     (21) (2)
Cash flows from financing activities        
Proceeds from issuance of convertible preferred stock, net of issuance costs     106,631  
Proceeds from issuance of common stock for exercise of stock options     27  
Payments of deferred offering costs     (1,128)  
Net cash provided by financing activities     105,530  
Net increase (decrease) in cash, cash equivalents and restricted cash     83,722 (8,888)
Cash, cash equivalents and restricted cash at the beginning of period     21,768 34,599
Cash, cash equivalents and restricted cash at the end of period 105,490 25,711 105,490 25,711
Cash, cash equivalents and restricted cash at the end of period        
Cash and cash equivalents 105,383 25,604 105,383 25,604
Restricted cash 107 107 107 107
Cash, cash equivalents and restricted cash at the end of period $ 105,490 $ 25,711 105,490 $ 25,711
Supplemental disclosure of noncash financing activities        
Equity issuance costs included in accounts payable and accrued expenses     $ 394