Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
CURRENT ASSETS
Cash and cash equivalents	$ 158,059	$ 207,136
Other current assets	5,261	4,819
Total current assets	163,320	211,955
Property and equipment, net	1,894	2,052
Operating lease right-of-use assets	1,758	1,989
Other assets	357	370
TOTAL ASSETS	167,329	216,366
LIABILITIES
Accounts payable	9,825	8,520
Accrued liabilities	5,313	4,550
Operating lease liabilities, current portion	569	516
Total current liabilities	15,707	13,586
Accrued milestone and royalty payments	2,486	1,921
Operating lease liabilities, long-term portion	1,399	1,714
Other liabilities	1,729	242
TOTAL LIABILITIES	21,321	17,463
Commitments and contingencies (Note 6)
STOCKHOLDERS' EQUITY
Preferred stock, $0.0001 par value, 5,500,000 shares authorized at June 30, 2020 and December 31, 2019; none issued at June 30, 2020 and December 31, 2019
Common stock, $0.0001 par value, 100,000,000 shares authorized at June 30, 2020 and December 31, 2019; 40,014,519 and 39,728,416 shares issued at June 30, 2020 and December 31, 2019, respectively	4	4
Additional paid in capital	378,455	364,712
Accumulated other comprehensive (loss) income	(16)	50
Accumulated deficit	(232,435)	(165,863)
TOTAL STOCKHOLDERS' EQUITY	146,008	198,903
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 167,329	$ 216,366

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).