XML 18 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (40,146) $ (35,186)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 376 207
Purchase net discount on marketable securities 19 480
Net accretion of discount on marketable securities (58) (543)
Stock-based compensation 2,948 2,326
Non-cash operating lease expense 306 191
Other (15)  
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (1,637) (2,223)
Accounts payable 1,318 2,141
Operating lease liabilities (277) (178)
Accrued and other liabilities (3,941) 595
Net cash used in operating activities (41,107) (32,190)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (2,714) (175)
Purchases of marketable securities (75,500) (77,956)
Proceeds from maturities of marketable securities 36,206 50,054
Net cash used in investing activities (42,008) (28,077)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock and pre-funded warrants in public offering, net of offering costs 129,250 64,298
Proceeds from employee stock plan purchases and stock option exercises 333 450
Principal payments on finance lease obligation (8) (12)
Net cash provided by financing activities 129,575 64,736
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 46,460 4,469
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH    
Beginning of period 20,753 22,461
End of period 67,213 26,930
Supplemental Disclosure of Non-Cash Investing and Financing Information:    
Leased assets obtained in exchange for lease obligations 176 $ 5,294
Unpaid amounts related to purchase of property and equipment $ 440