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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net loss $ (40,157) $ (29,781)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of premium on marketable securities 268 0
Depreciation and amortization 858 1,011
Stock-based compensation expense 6,128 1,155
Loss on disposal of capital equipment 0 9
Gain (loss) on foreign currency translation (65) 17
Noncash interest income, net 0 20
Changes in operating assets and liabilities:    
Prepaid expenses and other long-term assets 401 (4,404)
Accounts payable and accrued liabilities 5,207 2,187
Deferred revenue 2,260 0
Deferred rent (25) 0
Net cash used in operating activities (25,125) (29,786)
Investing activities    
Purchase of marketable securities (122,706) 0
Proceeds from maturities of marketable securities 20,000 0
Purchase of property and equipment (224) (863)
Net cash used in investing activities (102,930) (863)
Financing activities    
Proceeds from public offering, net of issuance costs 69,842 0
Proceeds from the sale of convertible preferred stock, net of issuance costs 0 14,379
Proceeds from issuance of common stock under the employee stock purchase plan 411 0
Proceeds from issuance of common stock, net of repurchases 648 782
Net cash provided by financing activities 70,901 15,161
Net decrease in cash and cash equivalents (57,154) (15,488)
Cash and cash equivalents at beginning of period 77,383 63,798
Cash and cash equivalents at end of period 20,229 48,310
Supplemental disclosures of non-cash investing and financing information    
Deferred offering costs included in accounts payable and accrued expenses 0 454
Forgiveness of promissory notes from related party for purchase of common stock $ 0 $ 382