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Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net loss $ (59,262) $ (45,347)
Adjustments to reconcile net loss to net cash used in operating activities    
Net amortization of premiums and accretion of discounts on available-for-sale securities 79  
Depreciation 347 201
Stock-based compensation 6,358 3,017
Changes in operating assets and liabilities    
Prepaid expenses and other current assets 1,571 (6,862)
Accrued interest on investments (13)  
Other long-term assets (2,927)  
Operating lease right-of-use asset 978 1,326
Accounts payable (2,565) 3,711
Accrued expenses and other current liabilities 3,180 3,612
Operating lease liabilities (981) (613)
Net cash used in operating activities (53,235) (40,955)
Cash flows from investing activities    
Purchases of property and equipment (544) (2,050)
Purchases of investments (32,678)  
Net cash used in investing activities (33,222) (2,050)
Cash flows from financing activities    
Proceeds from issuance of common stock in initial public offering   116,251
Payment of issuance costs for common stock in initial public offering   (3,037)
Proceeds from exercise of stock options 138 17
Net cash provided by financing activities 138 163,065
Net (decrease) increase in cash, cash equivalents and restricted cash (86,319) 120,060
Cash, cash equivalents, and restricted cash at beginning of period 168,142 63,105
Cash, cash equivalents, and restricted cash at end of period 81,823 183,165
Supplemental disclosure of non-cash investing and financing activities    
Conversion of preferred stock to common stock upon the initial public offering   129,543
Issuance costs associated with public offering included in accrued expenses and other current liabilities $ 141  
Right-of-use asset obtained in exchange for operating lease obligation   3,104
Series B Preferred Stock    
Cash flows from financing activities    
Proceeds from issuance of Series B preferred stock   50,000
Payment of issuance costs for Series B preferred stock   $ (166)