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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Operating activities        
Net loss     $ (50,012) $ (14,786)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation expense $ 500 $ 200 1,018 377
Stock-based compensation expense 950 462 1,771 891
In-process research and development expenses     25,591  
Changes in operating assets and liabilities:        
Prepaid expenses and other current assets     (828) (30)
Other assets     (586) 38
Accounts payable     451 503
Accrued expenses and other liabilities     399 16
Deferred rent and deferred lease incentive     225 952
Net cash used in operating activities     (21,971) (12,039)
Investing activities        
Purchases of property and equipment     (531) (4,589)
Transaction costs associated with asset acquisition     (91)  
Net cash used in investing activities     (622) (4,589)
Financing activities        
Proceeds from issuance of Series A convertible preferred stock, net of issuance costs       25,322
Issuance costs associated with issuance of Series B convertible preferred stock     (34)  
Payment of initial public offering costs     (739)  
Principal payments on capital lease obligations     (21) (49)
Proceeds from issuance of common stock     218 17
Net cash (used in) provided by financing activities     (576) 25,290
Net (decrease) increase in cash, cash equivalents and restricted cash     (23,169) 8,662
Cash, cash equivalents, and restricted cash, beginning of period     73,889 407
Cash, cash equivalents, and restricted cash, end of period 50,720 9,069 50,720 9,069
Supplemental cash flow information        
Cash paid for interest     4 5
Non-cash investing and financing activities:        
Acquisition of in process research and development through issuance of stock     25,500  
Property and equipment purchases unpaid at end of period     120 3,626
Deferred offering costs unpaid at end of period     1,325  
Cash and cash equivalents 49,628 7,977 49,628 7,977
Restricted cash $ 1,092 $ 1,092 $ 1,092 $ 1,092