XML 36 R7.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities    
Net loss $ (66,554) $ (23,729)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 1,534 836
Stock-based compensation expense 2,950 1,397
In-process research and development expenses 25,591  
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (2,714) (29)
Other assets (20) 20
Accounts payable 2,849 132
Accrued expenses and other liabilities 1,237 1,062
Deferred rent and deferred lease incentive 139 4,152
Net cash used in operating activities (34,988) (16,159)
Investing activities    
Purchases of property and equipment (745) (5,515)
Transaction costs associated with asset acquisition (91)  
Net cash used in investing activities (836) (5,515)
Financing activities    
Proceeds from initial public offering of common stock, net of underwriting discounts and commissions 64,443  
Principal payments on capital lease obligations (34) (59)
Proceeds from issuance of common stock under benefit plans 249 18
Net cash provided by financing activities 64,624 105,115
Net increase in cash, cash equivalents and restricted cash 28,800 83,441
Cash, cash equivalents, and restricted cash, beginning of period 73,889 407
Cash, cash equivalents, and restricted cash, end of period 102,689 83,848
Supplemental cash flow information    
Cash paid for interest 6 8
Non-cash investing and financing activities:    
Acquisition of in process research and development through issuance of stock 25,500  
Conversion of convertible preferred stock into common stock 165,136  
Property and equipment purchases unpaid at end of period   2,976
Public offering costs unpaid at end of period 442 73
Cash and cash equivalents 101,597 82,756
Restricted cash 1,092 1,092
Series A Convertible Preferred Stock    
Financing activities    
Proceeds from issuance of stock, net of issuance costs   25,322
Series B Convertible Preferred Stock    
Financing activities    
Proceeds from issuance of stock, net of issuance costs $ (34) $ 79,834