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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Operating Activities    
Net loss $ (55,178) $ (30,055)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 3,204 2,606
Depreciation and amortization 146 149
Loss on disposal of property and equipment   116
Changes in operating assets and liabilities:    
Accounts receivable (15,000)  
Prepaid and other assets (490) (2,895)
Accounts payable 3,031 500
Accrued compensation and other accrued liabilities 5,599 850
Operating lease liability and right-of-use asset 75  
Deferred revenue 15,000 (6)
Deferred rent   182
Net cash flows used in operating activities (43,613) (28,553)
Investing Activities    
Proceeds from maturities of short-term investments 157,433 127,967
Purchase of short-term investments (129,977) (198,912)
Purchases of property and equipment (64) (376)
Net cash flows provided by (used in) investing activities 27,392 (71,321)
Financing Activities    
Payments for the redemption of redeemable convertible notes   (5,082)
Issuance of common stock for secondary public offering, net of issuance costs   106,762
Issuance of common stock from stock grants and option exercises 327 107
Proceeds from exercise of warrants   9,545
Net cash flows provided by financing activities 327 111,332
Net (decrease) increase in cash, cash equivalents and restricted cash (15,894) 11,458
Cash, cash equivalents and restricted cash at beginning of the period 31,263 [1] 19,805
Cash, cash equivalents and restricted cash at end of the period [1] 15,369 31,263
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Adoption of ASC 606   207
Conversion of redeemable convertible notes to common stock   $ 3
Right-of-use asset and operating lease liability recorded upon the adoption of ASC 842 $ 2,052  
[1] (a) The following table provides a reconciliation of cash and restricted cash to amounts reported within the consolidated balance sheets: