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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flow from operating activities    
Net loss $ (21,649) $ (24,263)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 3,601 4,040
Depreciation 1,274 842
Amortization of premiums and discounts on marketable securities 102 (188)
Other non-cash items (3,882) 808
Changes in operating assets and liabilities:    
Related party collaboration receivable 3,759 2,213
Prepaid expenses and other current assets 323 (55)
Operating lease, right-of-use assets 951 734
Non-current assets 69 69
Accounts payable 2,543 745
Accrued expenses (3,757) (4,626)
Operating lease liabilities (868) (774)
Deferred revenue (3,760) (8,343)
Net cash used in operating activities (21,294) (28,798)
Cash flow from investing activities    
Purchases of property and equipment (375) (1,507)
Proceeds from maturities of marketable securities 35,000 110,500
Net cash provided by investing activities 34,625 108,993
Cash flow from financing activities    
Proceeds from the exercise of stock options 28 34
Net cash provided by financing activities 28 34
Net increase in cash and cash equivalents 13,359 80,229
Cash, cash equivalents, and restricted cash beginning of period 106,219 86,777
Cash, cash equivalents, and restricted cash end of period 119,578 167,006
Supplemental disclosure of cash and non-cash activities    
Capital expenditures incurred but not yet paid $ 17 $ 65