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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net loss $ (161,381) $ (161,867) $ (103,227)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation expense 2,405 2,068 286
Share-based compensation expense 20,875 15,080 5,701
Class A common shares issued or to be issued as consideration for Primatope, including milestone payments   8,800  
Loss on disposal of property and equipment   21 66
Other     235
Non-cash lease expense 1,400 1,211  
Accretion of discounts on short-term investments 123 (3,501) (1,423)
Deferred income taxes 4,361 (3,156) (978)
Changes in operating assets and liabilities:      
Prepaid expenses and other assets (1,334) (1,020) (4,791)
Other long-term assets (5,588)    
Accounts payable (4,969) (4,705) 8,823
Accrued expenses and other liabilities 8,797 4,638 9,296
Accrued milestones   (15,000) 5,000
Operating lease liabilities (1,699) (1,264)  
Other long-term liabilities 478 326  
Net cash used in operating activities (136,532) (158,369) (81,012)
Cash flows from investing activities:      
Purchases of property and equipment (283) (3,203) (5,290)
Purchases of short-term investments (430,211) (488,773) (402,008)
Proceeds from the maturities of short-term investments 407,050 541,190 168,100
Net cash provided by investing activities (23,444) 49,214 (239,198)
Cash flows from financing activities:      
Payments of offering costs (1,136) (118) (3,657)
Proceeds from issuance of common stock under incentive award plans and employee share purchase plan 6,553 1,119 377
Net cash provided by financing activities 227,086 84,107 346,736
Net increase in cash, cash equivalents and restricted cash 67,110 (25,048) 26,526
Cash, cash equivalents and restricted cash at beginning of period 47,138 72,186 45,660
Cash, cash equivalents and restricted cash at end of period 114,248 47,138 72,186
Supplemental information:      
Cash paid for income taxes 482 1,724 383
Supplemental disclosure of non-cash investing and financing activities:      
Right-of-use asset obtained in exchange for operating lease obligation 6,039    
Deferred offering costs included in accrued expenses and accounts payable     404
Property and equipment included in accrued expenses and accounts payable   222 1,292
Series C convertible preferred shares      
Cash flows from financing activities:      
Proceeds from issuance of convertible preferred shares, net of issuance costs     190,822
Initial Public Offering | Class A common shares      
Cash flows from financing activities:      
Proceeds from issuance of common shares, net of underwriting discounts and commissions inclusive of the over-allotment option exercise     $ 159,194
Follow-On Offering | Class A common shares      
Cash flows from financing activities:      
Proceeds from issuance of common shares, net of underwriting discounts and commissions inclusive of the over-allotment option exercise 165,725 48,595  
Private Placement | Class A1 common shares      
Cash flows from financing activities:      
Proceeds from issuance of common shares from private placement, net of placement agent fees $ 55,944 $ 34,511