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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net loss $ (64,616) $ (62,873)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 6,093 6,150
Depreciation expense 1,493 1,264
Net accretion of discount marketable securities 0 (164)
Non-cash interest expense 250 263
Non-cash lease expense 1,541  
Gain on sale of fixed assets, net (5) (2)
Changes in assets and liabilities:    
Prepaid expenses and other assets 267 (633)
Accounts payable 2,105 90
Accrued expenses and other current liabilities 263 2,907
Operating lease liabilities (1,771) 0
Other liabilities 270 12
Net cash used in operating activities (54,110) (52,986)
Investing activities    
Proceeds from sales and maturities of investments 0 55,000
Purchases of property and equipment (912) (2,569)
Proceeds from sale of fixed assets 6 2
Net cash (used in)/provided by investing activities (906) 52,433
Financing activities    
Net proceeds from the issuance of long-term debt 10,000 19,481
Repayment of long-term debt 0 (15,000)
Proceeds from issuance of common stock, net of issuance cost 48,424 0
Proceeds from issuance of common stock under employee stock purchase plan and exercise of stock options 339 282
Net cash provided by financing activities 58,763 4,763
Net increase in cash, cash equivalents and restricted cash 3,747 4,210
Cash, cash equivalents and restricted cash – beginning of period 79,333 94,351
Cash, cash equivalents and restricted cash – end of period 83,080 98,561
Supplemental disclosure of cash flow information    
Cash paid for interest 1,509 728
Cash paid for taxes 20 0
Noncash investing and financing activities    
Deferred financing and public offering costs in accounts payable and accrued expenses 19 0
Property and equipment additions in accounts payable and accrued expenses $ 33 $ 290