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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net loss $ (86,483) $ (51,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,491 1,303
Amortization of debt discount and debt issuance costs 58  
Gain or loss on sale of property and equipment 28 (8)
Equity-based compensation 11,175 7,972
Amortization/accretion of investment securities (162) (1,390)
Non-cash operating lease expense 2,380 997
Deferred payroll tax credit   176
Change in operating assets and liabilities:    
Accounts receivable 25,000 (25,000)
Prepaid expenses and other current assets (3,361) (739)
Other assets (923) (98)
Accounts payable 2,101 (1,342)
Accrued expenses 5,089 2,453
Operating lease liabilities (1,261) (888)
Deferred revenue (15,403) 4,508
Other liabilities   (59)
Net cash used in operating activities (60,271) (63,115)
Cash flows from investing activities:    
Purchases of property and equipment (4,088) (3,115)
Purchases of marketable securities (200,110) (235,417)
Sales and maturities of marketable securities 140,700 176,288
Proceeds from sale of property and equipment   8
Net cash used in investing activities (63,498) (62,236)
Cash flows from financing activities:    
Principal payments on debt   (365)
Proceeds from debt 24,622  
Proceeds from sale of common shares and pre-funded warrants, net of issuance costs 215,922 48,348
Proceeds from stock option exercises 7,294 913
Other (19) (13)
Net cash provided by financing activities 247,819 48,883
Net increase (decrease) in cash and cash equivalents and restricted cash 124,050 (76,468)
Cash and cash equivalents and restricted cash, beginning of period 38,806 115,274
Cash and cash equivalents and restricted cash, end of period 162,856 38,806
Supplemental disclosure of non-cash items:    
Property and equipment purchases in accounts payable and accrued expenses 1,368  
Operating lease right-of-use asset obtained in exchange for operating lease obligation 31,286 $ 5,444
Supplemental cash flow information:    
Cash paid for interest $ 251