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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income (loss) $ 9,733 $ (6,155)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 751 563
Stock-based compensation 1,008 383
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 606 (897)
Accounts payable 402 455
Accrued liabilities (812) (565)
Deferred rent 96 (7)
Deferred revenue (22,378) (857)
Net cash used in operating activities (10,594) (7,080)
Cash flows from investing activities:    
Maturities of marketable securities 30,349  
Purchase of marketable securities (23,531)  
Purchase of property and equipment (1,445) (935)
Net cash provided by (used in) investing activities 5,373 (935)
Cash flows from financing activities:    
Proceeds from issuances of common stock 37 4
Proceeds from the term loan   4,649
Deferred financing costs   (1,574)
Payments of the term loan (277) (109)
Net cash used in (provided by) financing activities (240) 2,970
Net decrease in cash, cash equivalents and restricted cash (5,461) (5,045)
Cash, cash equivalents and restricted cash—beginning of period 39,130 135,633
Cash, cash equivalents and restricted cash—end of period 33,669 130,588
Supplemental disclosures of cash flow information:    
Cash paid for interest 35 23
Supplemental disclosures of noncash investing and financing activities:    
Purchase of property and equipment included in accrued liabilities $ 156 75
Deferred financing costs included in accrued liabilities   $ 290