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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net loss $ (31,573) $ (70,671)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 4,181 3,899
Noncash lease expense 569 450
Stock-based compensation expense 8,356 6,336
Accretion of discount (amortization of premium) on short-term investments 414 (193)
Loss on disposal of property and equipment 6  
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (2,511) 1,025
Accounts payable 991 4,920
Accrued expenses and other liabilities (2,106) 1,888
Deferred revenue (31,008) (397)
Operating lease liabilities (1,253) (1,090)
Net cash used in operating activities (53,934) (53,833)
Cash flows from investing activities:    
Purchases of short-term investments (97,392) (19,992)
Maturities of short-term investments   189,620
Purchases of property and equipment (1,581) (2,621)
Net cash (used in) provided by investing activities (98,973) 167,007
Cash flows from financing activities:    
Proceeds from issuance of common stock in follow-on public offering, net of discounts and issuance costs 49,744  
Proceeds from issuance of common stock pursuant to employee stock purchase plan 446 537
Proceeds from issuance of common stock from option exercises 145 151
Net cash provided by financing activities 51,789 688
Net change in cash, cash equivalents and restricted cash (101,118) 113,862
Cash, cash equivalents and restricted cash, beginning of period 218,705 55,048
Cash, cash equivalents and restricted cash, end of period 117,587 168,910
Supplemental disclosures of noncash investing and financing activities:    
Reclassification of liability for common stock vested 8 16
Property and equipment additions included in accounts payable 94 30
Property and equipment additions included in accrued expenses and other liabilities   7
Unrealized gain (loss) on available for sale securities, net 2 $ (172)
A T M    
Cash flows from financing activities:    
Proceeds from issuance of common stock in follow-on public offering, net of discounts and issuance costs $ 1,454