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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net loss $ (12,253) $ (4,187)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 218 189
Change in fair value of derivative liability 132 84
Change in fair value of convertible preferred stock warrant liability 641  
Change in fair value of grant liability 464 51
Accretion of discounts on convertible notes 289 175
Non-cash interest expense 76 61
Gain on extinguishment of convertible notes (199)  
Amortization of available-for-sale securities 86  
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (5,919) 16
Accounts payable and accrued expenses 3,004 927
Operating lease liability 13  
Net cash (used in) operating activities (13,448) (2,684)
Investing activities    
Purchases of available-for-sale securities (94,281) (995)
Maturities of available-for-sale securities   1,745
Purchases of property and equipment (65)  
Principal payments received on stockholder note receivable 36 5
Net cash (used in) provided by investing activities (94,310) 755
Financing activities    
Proceeds from exercise of common stock options and common stock warrants 613 13
Proceeds from initial public offering, net of issuance costs 187,224  
Proceeds from sales of convertible preferred stock and stock warrants, net of issuance costs 81,926  
Proceeds from issuance of convertible notes, including derivative 1,666 884
Issuance costs of convertible notes (2) (5)
Proceeds from Paycheck Protection Program loan 215  
Repayment of Paycheck Protection Program loan (215)  
Net cash provided by financing activities 271,427 892
Net increase (decrease) in cash and cash equivalents 163,669 (1,037)
Cash and cash equivalents, beginning of period 2,056 3,317
Cash and cash equivalents, end of period 165,725 2,280
Supplemental disclosures of cash flow information:    
Purchases of property and equipment included in accounts payable and accrued liabilities 940  
Deferred offering costs included in accounts payable and accrued liabilities 779  
Issuance of common stock warrants in connection with Series B convertible preferred stock financing 10,591  
Issuance of Series B preferred stock upon conversion of promissory notes 4,515  
Recognition of warrant liability in connection with Series B convertible preferred stock financing 364  
Derivative liability recorded upon issuance of convertible notes 774 $ 390
Conversion of convertible preferred stock upon closing of initial public offering 92,537  
Right-of-use asset obtained in exchange for new operating lease liability $ 975