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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flow from operating activities    
Net loss $ (27,753) $ (17,670)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 3,462 1,674
Depreciation and amortization 842 953
Share of loss from equity method investee 482 431
Gain on deemed sale from equity method investee (482) 0
Amortization of premiums on investments (248) (747)
Changes in operating assets and liabilities:    
Receivable from collaboration partners (212) 0
Amounts owed by a related party 0 83
Prepaid expenses and other current assets (3,704) (759)
Other long-term assets (91) (30)
Accounts payable (2,342) (517)
Accrued liabilities 648 1,606
Other current liabilities 0 14
Deferred revenue (1,750) (1,750)
Deferred rent (129) (127)
Net cash used in operating activities (31,277) (16,839)
Cash flow from investing activities    
Purchases of short-term and long-term investments (8,885) (72,407)
Proceeds from maturities of short-term and long-term investments 49,150 87,314
Purchases of property and equipment (209) (628)
Net cash provided by investing activities 40,056 14,279
Cash flow from financing activities    
Proceeds from issuance of common stock 643 0
Repurchase of unvested shares of stock (33) (5)
Net cash provided by (used in) financing activities 610 (5)
Net increase (decrease) in cash and cash equivalents 9,389 (2,565)
Cash, cash equivalents and restricted cash at beginning of period 58,140 71,267
Cash, cash equivalents and restricted cash at end of period 67,529 68,702
Non-cash investing and financing activities:    
Unpaid portion of property and equipment purchases included in accounts payable and accrued liabilities 76 380
Vesting of early exercised stock options and restricted stock $ 220 $ 273