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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net loss $ (29,808) $ (24,873)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 110 125
Stock-based compensation expense 1,748 806
Amortization and accretion of investments (596)  
Changes in operating assets and liabilities:    
Accounts receivable (7,000)  
Grants receivable 386 (2,208)
Prepaid expenses and other assets (3,731) (1,896)
Accounts payable (385) 536
Accrued expenses and other current liabilities 2,750 (386)
Deferred rent (175) 109
Net cash used in operating activities (36,701) (27,787)
Cash flows from investing activities:    
Purchase of property and equipment (98) (322)
Proceeds from maturities of short-term investments 37,820  
Purchases of short-term investments (34,970)  
Net cash provided by (used in) investing activities 2,752 (322)
Cash flows from financing activities:    
Proceeds from exercise of stock options 40 3
Proceeds from initial public offering, net of issuance costs paid in the period   67,026
Payments of initial public offering costs (150) (9,376)
Net cash (used in) provided by financing activities (110) 67,029
Net (decrease) increase in cash and cash equivalents (34,059) 38,920
Cash and cash equivalents at beginning of the period 49,360 55,101
Cash and cash equivalents at end of the period $ 15,301 94,021
Supplemental disclosure of non-cash investing and financing activities:    
Deferred offering costs included in accounts payable and accrued expenses   1,105
Conversion of preferred stock to common stock upon initial public offering   $ 104,713