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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (56,759) $ (29,450)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 312 221
Purchase net discount on marketable securities 498 539
Net accretion of discount on marketable securities (749) (311)
Stock-based compensation 3,692 2,903
Research and development services settled with stock   107
Non-cash operating lease expense 337  
Other, net   (30)
Changes in operating assets and liabilities:    
Accounts receivable - grant   656
Prepaid expenses and other assets (1,700) (1,520)
Accounts payable 1,834 727
Deferred revenue   (20)
Operating lease liabilities (165)  
Accrued and other liabilities 3,302 1,185
Net cash used in operating activities (49,398) (24,993)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (318) (219)
Purchases of marketable securities (87,676) (35,500)
Proceeds from maturities of marketable securities 75,929 22,620
Net cash used in investing activities (12,065) (13,099)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock and pre-funded warrants in public offering, net of offering costs 64,239 37,654
Proceeds from employee stock plan purchases and stock option exercises 826 2,153
Principal payments on finance lease obligation (18)  
Net cash provided by financing activities 65,047 39,807
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 3,584 1,715
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH    
Beginning of period 22,461 12,817
End of period 26,045 14,532
Supplemental Disclosure of Non-Cash Investing and Financing Information:    
Leased assets obtained in exchange for lease obligations 5,294  
Unpaid amounts related to purchase of property and equipment $ 26 $ 51