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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (78,254) $ (44,348) $ (27,236)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 418 293 249
Purchase net discount on marketable securities 504 907 9
Net (accretion of discount) amortization of premium on marketable securities (818) (593) 75
Stock-based compensation 4,876 4,280 2,492
Research and development services settled with stock   107 15
Non-cash operating lease expense 483    
Other, net (5) (40) (21)
Changes in operating assets and liabilities:      
Accounts receivable - grant   3,078 (1,863)
Prepaid expenses and other assets (346) (261) (114)
Accounts payable 2,583 239 164
Deferred revenue   (20) (51)
Operating lease liabilities (258)    
Accrued and other liabilities 5,125 4,165 1,666
Net cash used in operating activities (65,692) (32,193) (24,615)
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchases of property and equipment (1,492) (422) (619)
Purchases of marketable securities (91,926) (62,179) (64,115)
Proceeds from maturities and sales of marketable securities 91,679 47,370 42,205
Net cash used in investing activities (1,739) (15,231) (22,529)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from issuance of common stock and pre-funded warrants in public and at-the-market offerings, net of offering costs 64,298 54,048 11,380
Proceeds from employee stock plan purchases and stock option exercises 1,450 3,020 833
Principal payments on finance lease obligation (25)    
Net cash provided by financing activities 65,723 57,068 12,213
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (1,708) 9,644 (34,931)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH      
Beginning of period 22,461 12,817 47,748
End of period 20,753 22,461 12,817
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 $ 356 $ 92 $ 57