XML 102 R7.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities:          
Net loss $ (7,038) $ (11,069) $ (82,739) $ (37,614) $ (33,778)
Adjustments to reconcile net loss to net cash used in operating activities:          
Accretion on marketable securities 71 (247) (1,020) (673)  
Depreciation and amortization expense 34 27 125 80 5
Loss on disposal of property and equipment     53    
Stock-based compensation expense 975 663 3,694 2,793 470
Change in fair value of tranche liability         14,896
Expense related to acquisition of intellectual property         3,157
Changes in operating assets and liabilities:          
Prepaid expenses and other current assets 542 (81) (274) (630) (876)
Accounts payable (5,506) 144 3,727 1,597 1,392
Accrued liabilities (4,128) (1,482) 2,756 (1,022) 3,749
Other liabilities 9 (4) (4) 19  
Net cash used in operating activities (15,041) (12,049) (73,682) (35,450) (10,985)
Investing activities:          
Purchases of property and equipment   (24) (271) (362) (44)
Maturities of marketable securities 42,500 42,500 141,500 7,500  
Purchases of marketable securities   (77,104) (97,103) (107,854)  
Net cash provided by (used in) investing activities 42,500 (34,628) 44,126 (100,716) (44)
Financing activities:          
Proceeds from public offering, net of issuance costs   46,816 49,747 90,908  
Proceeds from at-the-market offering, net of issuance costs     6,716    
Deferred offering costs       (970) (568)
Taxes paid related to net share settlement of restricted stock units (1)   (20)    
Proceeds from exercise of stock options     6 5  
Net cash (used in) provided by financing activities (1) 46,816 56,449 89,943 64,378
Net increase (decrease) in cash, cash equivalents and restricted cash 27,458 139 26,893 (46,223) 53,349
Cash, cash equivalents and restricted cash at beginning of period 34,019 7,126 7,126 53,349  
Cash, cash equivalents and restricted cash at end of period $ 61,477 7,181 34,019 7,126 53,349
Supplemental disclosure of non-cash investing and financing activities:          
Cash paid for income taxes     $ 62    
Conversion of redeemable convertible preferred stock into common stock       $ 81,620  
Issuance costs associated with public offering included in accounts payable   $ 231      
Series A Redeemable Convertible Preferred Stock          
Financing activities:          
Proceeds from issuance of redeemable convertible preferred stock         25,000
Series B Redeemable Convertible Preferred Stock          
Financing activities:          
Proceeds from issuance of redeemable convertible preferred stock         $ 39,946