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v3.21.1

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2021 | Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES |  |
Net loss | $ (15,090) | $ (11,886)
Adjustments to reconcile net loss to net cash used in operating activities: |  |
Stock-based compensation expense | 2,364 | 1,237
Depreciation | 11 |
Non-cash lease expense | 50 | 54
Net amortization of premiums and discounts on short-term investments | 121 | (103)
Changes in operating assets and liabilities: |  |
Prepaid expenses and other assets | (2,787) | 724
Accounts payable | 1,177 | 588
Accrued expenses and other current liabilities | (4,143) | (1,877)
Operating lease liability | (49) | (54)
Net cash used in operating activities | (18,346) | (11,317)
CASH FLOWS FROM INVESTING ACTIVITIES |  |
Purchase of short-term marketable securities |  | (24,781)
Proceeds from maturities of short-term marketable securities | 19,000 | 18,500
Net cash provided by (used in) investing activities | 19,000 | (6,281)
CASH FLOWS FROM FINANCING ACTIVITIES |  |
Proceeds from the exercise of stock options | 24 | 112
Proceeds from the disgorgement of stockholders' short-swing profits, net |  | 52
Net cash provided by financing activities | 24 | 164
Net increase (decrease) in cash, cash equivalents and restricted cash | 678 | (17,434)
Cash, cash equivalents and restricted cash at the beginning of the period | 187,390 | 64,848
Cash, cash equivalents and restricted cash at the end of the period | 188,068 | 47,414
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION: |  |
Net unrealizable gain (loss) on marketable securities | $ 1 | $ 51

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