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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (16,746) $ (5,200)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 283 166
Premium amortization and discount accretion on marketable securities 139 (516)
Equity‑based compensation 2,544 499
Change in operating assets and liabilities:    
Accounts receivable (218) (378)
Prepaid expenses and other current assets 279 (58)
Other assets 33 9
Accounts payable (307) 1,142
Accrued expenses (1,024) 224
Deferred revenue (3,905) 4,309
Deferred rent (21) (9)
Net cash (used in) provided by operating activities (18,943) 188
Cash flows from investing activities:    
Purchases of marketable securities (9,089) (143,111)
Proceeds from maturities of marketable securities 33,000  
Purchase of property and equipment (295) (559)
Net cash provided by (used in) investing activities 23,616 (143,670)
Cash flows from financing activities:    
Proceeds from issuance of Common Stock pursuant to stock options exercise 122  
Proceeds from issuance of Common Stock under Employee Stock Purchase Plan 681  
Net cash provided by financing activities 803  
Net (decrease) increase in cash and cash equivalents and restricted cash 5,476 (143,482)
Cash and cash equivalents and restricted cash, beginning of period 101,834 186,176
Cash and cash equivalents and restricted cash, end of period 107,310 $ 42,694
Non-cash investing and financing activities:    
Purchases of property and equipment in accounts payable and accrued expenses 30  
Amounts from exercise of stock options included in prepaid expenses and other current assets 45  
Supplemental cash flow information:    
Cash paid for taxes $ 480