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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net loss $ (20,895,000) $ (18,033,000)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 28,000 17,000
Stock-based compensation 2,984,000 1,660,000
Net unrealized (gain) loss on foreign currency transactions (85,000) 19,000
Non-cash consulting expense 81,000  
Amortization of term loan discount and issuance costs 195,000  
Realized gain on investments (13,000) 0
Amortization/accretion of investments, net 30,000 (327,000)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 862,000 495,000
Accounts payable (229,000) 1,559,000
Accrued expenses 671,000 694,000
Net cash used in operating activities (16,371,000) (13,916,000)
Investing activities:    
Purchases of property and equipment (172,000) (56,000)
Purchases of short-term investments (30,314,000) (36,095,000)
Maturities of short-term investments 28,930,000 39,315,000
Net cash (used in) provided by investing activities (1,556,000) 3,164,000
Financing activities:    
Proceeds from issuance of common stock, net of issuance costs 35,758,000  
Proceeds from issuance of notes payable, net of issuance costs   9,941,000
Proceeds from ESPP purchase 96,000  
Net cash provided by financing activities 53,934,000 9,941,000
Effect of exchange rate changes on cash and cash equivalents 23,000 (40,000)
Net increase (decrease) in cash and cash equivalents 36,030,000 (851,000)
Cash and cash equivalents at beginning of period 13,219,000 28,508,000
Cash and cash equivalents at end of period 49,249,000 27,657,000
Supplemental disclosures of non-cash activities:    
Equity issuance costs in accounts payable 50,000  
Fair value of common stock warrants in connection with issuance of notes payable   266,000
Notes payable issuance costs in accounts payable   $ 58,000
ATM Facility    
Financing activities:    
Proceeds from issuance of common stock, net of issuance costs 18,080,000  
Lincoln Park Capital Fund, LLC    
Supplemental disclosures of non-cash activities:    
Issuance of commitment shares to Lincoln Park pursuant to agreement $ 171,000