| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net loss | ||||||
-85,372 | -43,538 | -23,552 | -17,100 | |||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Amortization of beneficial conversion feature related to convertible promissory notes payable to related parties | ||||||
0 | 0 | 853 | - | |||
Benefit from deferred income taxes | ||||||
0 | 0 | -291 | - | |||
Depreciation and amortization | ||||||
1,500 | 200 | 200 | 148 | |||
Stock-based compensation | ||||||
15,764 | 4,570 | 402 | 182 | |||
Net amortization of premiums and discounts on marketable securities | ||||||
2,664 | 1,310 | 0 | - | |||
Noncash lease expense | ||||||
275 | 0 | 0 | - | |||
Noncash interest related to convertible promissory notes payable to related parties | ||||||
0 | 0 | 228 | - | |||
Loss on extinguishment of debt facility | ||||||
0 | 0 | -159 | - | |||
Noncash interest related to debt facility | ||||||
0 | 0 | 101 | 29 | |||
Accretion of tenant improvement allowance | ||||||
0 | 82 | 0 | - | |||
Changes in operating assets and liabilities: | ||||||
Prepaid expenses and other current assets | ||||||
-463 | 1,489 | 637 | -275 | |||
Other long-term assets | ||||||
564 | -313 | 150 | 250 | |||
Accounts payable | ||||||
3,571 | 76 | 510 | -1,141 | |||
Accrued expenses and other current liabilities | ||||||
4,077 | 2,063 | -432 | 279 | |||
Other long-term liabilities | ||||||
-70 | 705 | 0 | - | |||
Net cash used in operating activities | ||||||
-63,000 | -38,450 | -22,568 | -17,578 | |||
Cash flows from investing activities | ||||||
Purchases of marketable securities | ||||||
541,701 | 236,601 | 0 | - | |||
Proceeds from maturities of marketable securities | ||||||
230,500 | 92,500 | 0 | - | |||
Purchases of property and equipment | ||||||
770 | 6,946 | 264 | 234 | |||
Net cash provided by investing activities | ||||||
-311,971 | -151,047 | -264 | -234 | |||
Cash flows from financing activities | ||||||
Proceeds from issuance of common stock, net of issuance costs | ||||||
377,525 | 138,357 | 0 | - | |||
Proceeds from issuance of convertible preferred stock, net of issuance costs | ||||||
0 | 0 | 92,331 | 18,991 | |||
Proceeds from issuance of convertible promissory notes, net of issuance costs | ||||||
0 | 0 | 7,414 | - | |||
Repayment of debt facility | ||||||
0 | 0 | 5,250 | - | |||
Proceeds from debt facility, net of issuance costs | ||||||
- | - | - | 4,985 | |||
Proceeds from exercise of stock options | ||||||
2,448 | 345 | 228 | 36 | |||
Proceeds from issuance of common stock under the 2018 ESPP | ||||||
1,190 | 0 | 0 | - | |||
Payments for deferred financing costs | ||||||
0 | 0 | 100 | - | |||
Proceeds from repayment of recourse promissory note | ||||||
0 | 50 | 0 | - | |||
Net cash provided by financing activities | ||||||
381,163 | 138,752 | 94,623 | 24,012 | |||
Net increase (decrease) in cash, cash equivalents and restricted cash | ||||||
6,180 | -50,745 | 71,791 | 6,200 | |||
Supplemental disclosures | ||||||
Cash paid for interest | ||||||
0 | 0 | 228 | 39 | |||
Noncash investing and financing items: | ||||||
Right-of-use assets obtained in exchange for lease obligations | ||||||
6,050 | 0 | 0 | - | |||
Conversion of convertible promissory notes payable to related parties | ||||||
0 | 0 | 7,642 | - | |||
Recognition of beneficial conversion feature related to convertible promissory notes to related parties, net of benefit for income taxes | ||||||
0 | 0 | 1,867 | - | |||
Reclassification of preferred stock tranche liability upon settlement | ||||||
- | - | - | 1,795 | |||
Lessor funded lease incentives included in property and equipment | ||||||
0 | 1,386 | 0 | - | |||
Reclassification of beneficial conversion feature related to convertible promissory notes payable to related parties, net of tax expense | ||||||
0 | 0 | 1,305 | - | |||
Property and equipment purchased in accounts payable | ||||||
0 | 313 | 89 | - | |||
Deferred initial public offering costs in accounts payable | ||||||
0 | 0 | 63 | - | |||
Vesting of restricted common stock subject to repurchase | ||||||
20 | 24 | 28 | 20 | |||
Issuance of common stock warrants in connection with debt facility | ||||||
- | - | - | 24 | |||