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v3.19.1

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended
--- | ---
Mar. 31, 2019 | Mar. 31, 2018
Operating activities: |  |
Net loss | $ (11,069,000) | $ (9,859,000)
Adjustments to reconcile net loss to net cash used in operating activities: |  |
Accretion on marketable securities | (247,000) |
Depreciation and amortization expense | 27,000 | 9,000
Stock-based compensation expense | 663,000 | 1,181,000
Changes in operating assets and liabilities: |  |
Restricted cash |  | (84,000)
Prepaid expenses and other current assets | (81,000) | (264,000)
Accounts payable | 144,000 | 80,000
Accrued liabilities | (1,482,000) | 1,105,000
Funding advance |  | 500,000
Other liabilities | (4,000) | 28,000
Net cash used in operating activities | (12,049,000) | (7,304,000)
Investing activities: |  |
Purchases of property and equipment | (24,000) | (278,000)
Maturities of marketable securities | 42,500,000 |
Purchases of marketable securities | (77,104,000) |
Net cash used in investing activities | (34,628,000) | (278,000)
Financing activities: |  |
Proceeds from public offering, net of issuance costs | 46,816,000 | 89,938,000
Net cash provided by financing activities | 46,816,000 | 89,938,000
Net increase in cash and cash equivalents | 139,000 | 82,356,000
Cash and cash equivalents at beginning of period | 7,042,000 | 53,349,000
Cash and cash equivalents at end of period | 7,181,000 | 135,705,000
Supplemental disclosure of non-cash investing and financing activities: |  |
Purchases of property and equipment included in accounts payable |  | 8,000
Conversion of redeemable convertible preferred stock into common stock |  | $ 81,620,000
Issuance costs associated with public offering included in accounts payable | $ 231,000 |

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- Definition The sum of the periodic adjustments of the differences between securities' face values and purchase prices that are charged against earnings. This is called accretion if the security was purchased at a discount and amortization if it was purchased at premium. As a noncash item, this element is an adjustment to net income when calculating cash provided by or used in operations using the indirect method. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=109223946&loc=d3e3602-108585 + Details
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