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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net loss $ (16,999) $ (18,452)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 603 539
Stock-based compensation expense 2,073 1,693
Net amortization of premiums and discounts on marketable securities 74 (45)
Changes in operating assets and liabilities:    
Accounts receivable 2,000  
Unbilled accounts receivable (1) (325)
Prepaid expenses and other current assets 1,466 579
Other assets 15 (20)
Accounts payable 920 1,429
Accrued expenses and other liabilities (2,016) (91)
Deferred revenue (4,258) (425)
Deferred rent and deferred lease incentive (103) (86)
Net cash used in operating activities (16,226) (15,204)
Investing activities    
Purchases of marketable securities (2,997) (55,837)
Maturities of marketable securities 15,674  
Purchases of property and equipment (262) (567)
Net cash provided by (used in) investing activities 12,415 (56,404)
Financing activities    
Proceeds from issuance of common stock in connection with follow-on offering, net of issuance costs 47,424  
Principal payments on capital lease obligations (13) (12)
Proceeds from issuance of common stock under benefit plans, net 93 286
Net cash provided by financing activities 47,504 274
Net increase (decrease) in cash, cash equivalents and restricted cash 43,693 (71,334)
Cash, cash equivalents, and restricted cash, beginning of period 58,144 97,805
Cash, cash equivalents, and restricted cash, end of period 101,837 26,471
Supplemental cash flow information    
Cash paid for interest   1
Non-cash investing and financing activities:    
Property and equipment purchases unpaid at end of period 40 163
Public offering costs unpaid at end of period 18 301
Cash and cash equivalents 100,745 25,379
Restricted cash $ 1,092 $ 1,092