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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net loss $ (57,398) $ (32,179)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 101 60
Accretion and amortization on investments, net 778 (34)
Amortization of debt issuance costs/debt discount 374  
Gain on sale of marketable securities   (19)
Gain on sales of equity investment (1,233)  
Change in fair value of equity investment, including foreign currency translation   (279)
Stock-based compensation for services by non-employees 48 32
Stock-based compensation for employees and directors 3,767 3,275
Amortization of right-of-use assets 266 580
Changes in assets and liabilities:    
Current and noncurrent assets (3,042) 389
Amount due to Janssen Biotech, Inc.   (14,269)
Current and noncurrent liabilities 5,791 3,855
Net cash used in operating activities (50,548) (38,589)
Cash flows from investing activities:    
Purchases of property and equipment (10) (386)
Purchases of marketable securities (82,430) (182,355)
Proceeds from sales of marketable securities   7,681
Proceeds from maturities of marketable securities 149,834 78,012
Proceeds from sales of equity investment 1,594  
Net cash provided by (used in) investing activities 68,988 (97,048)
Cash flows from financing activities:    
Proceeds from issuances of common stock from equity plans 204 82
Proceeds from issuance of common stock and warrants in public offering, net of paid issuance costs   140,794
Proceeds from issuances of common stock from at market offerings, net of paid issuance costs 16,234 4,075
Proceeds from exercise of warrants 2,479  
Proceeds from debt financing 10,000  
Net cash provided by financing activities 28,917 144,951
Net increase in cash, cash equivalents and restricted cash 47,357 9,314
Cash, cash equivalents and restricted cash at the beginning of the period 10,288 13,914
Cash, cash equivalents and restricted cash at the end of the period $ 57,645 $ 23,228