XML 17 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net loss $ (23,417,798) $ (11,557,547)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 457,799 293,667
Stock-based compensation expense 949,192 58,258
Accretion on short-term investments 110,794  
Change in fair value associated with convertible preferred stock tranche liability   876,000
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (4,129,517) (490,997)
Accounts payable 2,566,699 148,586
Accrued expenses and other liabilities 355,175 409,415
Deferred revenue (163,475)  
Deferred rent 2,479,807 142,505
Net cash used in operating activities (20,791,324) (10,120,113)
Cash flows from investing activities:    
Purchases of short-term investments (143,770,078)  
Maturities of short-term investments 61,220,000  
Purchases of property and equipment (4,184,136) (1,321,727)
Changes in restricted cash (17,375)  
Net cash used in investing activities (86,751,589) (1,321,727)
Cash flows from financing activities:    
Proceeds from issuance of common stock in initial public offering, net of discounts and issuance costs 150,843,215  
Proceeds from issuance of common stock from option exercises 85,301  
Net cash provided by financing activities 150,928,516 20,479,488
Increase in cash and cash equivalents 43,385,603 9,037,648
Cash and cash equivalents, beginning of period 51,574,932 11,392,207
Cash and cash equivalents, end of period 94,960,535 20,429,855
Supplemental disclosures of noncash investing and financing activities:    
Reclassification of liability for common stock vested 5,750 20,605
Property and equipment additions included in accounts payable 229,509 146,735
Reclassification of tranche liability upon issuance of convertible preferred stock   5,123,000
Series A Convertible Preferred Stock    
Cash flows from financing activities:    
Proceeds from issuance of convertible preferred stock, net of issuance costs   $ 20,479,488
Series A Convertible Preferred Stock | Initial Public Offering    
Supplemental disclosures of noncash investing and financing activities:    
Conversion of convertible preferred stock into common stock upon initial public offering 42,994,550  
Series B Convertible Preferred Stock | Initial Public Offering    
Supplemental disclosures of noncash investing and financing activities:    
Conversion of convertible preferred stock into common stock upon initial public offering $ 94,767,610