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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net loss $ (43,693) $ (41,240)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 4,048 4,088
Depreciation expense 1,031 803
Net (accretion of discount)/amortization of premium on marketable securities 0 (161)
Non-cash interest expense 132 51
Non-cash lease expense 1,117  
Gain on sale of fixed assets, net (5) 0
Changes in assets and liabilities:    
Prepaid expenses and other current assets 632 (144)
Accounts payable 2,812 1,324
Accrued expenses and other current liabilities (1,001) 1,920
Operating lease liabilities (1,111)  
Other liabilities 147 10
Net cash used in operating activities (35,891) (33,349)
Investing activities    
Proceeds from sales and maturities of investments 0 51,000
Purchases of property and equipment (651) (1,480)
Proceeds from sale of fixed assets 6 0
Net cash (used in)/provided by investing activities (645) 49,520
Financing activities    
Payment of deferred offering costs 0 (56)
Proceeds from issuance of common stock, net of issuance cost 48,641 0
Proceeds from the exercise of stock options 235 259
Net cash provided by financing activities 48,876 203
Net (decrease) increase in cash, cash equivalents and restricted cash 12,340 16,374
Cash, cash equivalents and restricted cash – beginning of period 79,333 94,351
Cash, cash equivalents and restricted cash – end of period 91,673 110,725
Supplemental disclosure of cash flow information    
Cash paid for interest 875 436
Cash paid for taxes 20 0
Noncash investing and financing activities    
Deferred financing and public offering costs in accounts payable and accrued expenses 234 46
Property and equipment additions in accounts payable and accrued expenses $ 248 $ 211