XML 29 R7.htm IDEA: XBRL DOCUMENT v3.20.4
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 $ (66,150) $ (77,187) $ (38,924)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation 7,899 8,353 6,919
Operating lease right-of-use asset amortization 1,775 1,792  
Depreciation and amortization 789 703 527
Loss on early repayment of debt 585    
Net amortization of premium (accretion of discount) on marketable securities 37 (594) 206
Amortization of debt issuance costs and accretion of debt discount 159 29  
Gain on disposal of property and equipment   8  
Change in deferred tax asset 1,438 (775) (658)
Changes in operating assets and liabilities:      
Research and development tax incentive receivable (990) 1,411 (236)
Receivable from collaboration partner - related party 4,329 (2,168) (2,771)
Prepaid expenses and other assets (1,102) (2,820) 1,117
Accounts payable 309 (3,000) 4,430
Payable to collaboration partner - related party 1,471 201 1,061
Accrued expenses and other payables 5,840 1,098 1,911
Deferred revenue - related party (27,053) 33,307 (23,529)
Operating lease liability (1,941) (1,885)  
Other liability 121    
Net cash used in operating activities (72,484) (41,527) (49,947)
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchase of marketable securities (280,027) (166,936) (71,060)
Proceeds from maturities of marketable securities 189,533 114,193 73,759
Purchases of property and equipment (471) (967) (486)
Net cash (used in) provided by investing activities (90,965) (53,710) 2,213
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from public offering of common stock, net of issuance costs 213,303    
Proceeds from issuance of common stock and warrants in private placement, net of issuance costs     21,673
Proceeds from at-the-market offering, net of issuance costs 42,062 34,492 1,508
Proceeds from issuance of common stock upon exercise of stock options and purchases under employee stock purchase plan 2,799 1,779 934
Proceeds from issuance of long-term debt, net of issuance costs   9,765  
Issuance costs related to long-term debt (14)    
Early repayment of long-term debt (10,524)    
Net cash provided by financing activities 247,626 46,036 24,115
Effect of exchange rate changes on cash, cash equivalents and restricted cash 175 (26) (177)
Net increase (decrease) in cash, cash equivalents and restricted cash 84,352 (49,227) (23,796)
Cash, cash equivalents and restricted cash, beginning of period 33,466 82,693 106,489
Cash, cash equivalents and restricted cash, end of period 117,818 33,466 82,693
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING AND INVESTING INFORMATION:      
Cash paid for interest 438 70  
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING AND INVESTING INFORMATION:      
Purchases of property and equipment in accounts payable and accrued liabilities 85 100 24
Fair value of common stock retired in exchange for issuance of common stock warrant     $ 6,670
Public Offering | Accrued liabilities and other payables      
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING AND INVESTING INFORMATION:      
Issuance costs related to common stock 205 $ 80  
Public Offering | Prepaid expenses and other assets      
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING AND INVESTING INFORMATION:      
Issuance costs related to common stock 124    
At-the-market offering | Prepaid expenses and other assets      
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING AND INVESTING INFORMATION:      
Issuance costs related to common stock $ 191