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CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 91,009 $ 181,133
Short-term investments 94,488 66,379
Unbilled revenue 750 750
Prepaid expenses and other current assets 7,546 3,800
Total current assets 193,793 252,062
Property and equipment, net 2,111 3,436
Right-of-use assets 2,402 3,970
Other assets 249 314
Total assets 198,555 259,782
Current liabilities:    
Accounts payable 2,490 2,187
Accrued compensation and benefits 3,722 4,453
Current portion of operating lease liability 2,770 2,608
Loan payable, current portion   1,183
Deferred revenue 885 4,541
Accrued expenses and other current liabilities 6,667 7,248
Total current liabilities 16,534 22,220
Operating lease liability, net of current portion   2,076
Loan payable, net of current portion 50,681 48,831
Total liabilities 67,215 73,127
Commitments and contingencies (Note 11)
Stockholders' equity:    
Preferred stock, $0.0001 par value; 5,000,000 shares authorized; no shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively.
Common stock, $0.0001 par value; 300,000,000 shares authorized; 90,243,409 and 88,817,741 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively. 9 9
Additional paid-in capital 657,130 647,078
Accumulated deficit (525,889) (460,452)
Accumulated other comprehensive income 90 20
Total stockholders' equity 131,340 186,655
Total liabilities and stockholders' equity $ 198,555 $ 259,782