| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss | ||||||
-52,807 | -33,285 | -21,994 | - | - | ||
Net loss | ||||||
- | - | - | -22,975 | -13,218 | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Stock-based compensation expense | ||||||
2,050 | 759 | 492 | 644 | 126 | ||
Depreciation and amortization expense | ||||||
103 | 103 | 71 | 285 | 389 | ||
Loss on transfer of nonfinancial assets | ||||||
-3,900 | 0 | 0 | - | - | ||
Non-cash lease expense | ||||||
569 | 0 | 0 | - | - | ||
Accretion of debt discount | ||||||
695 | 152 | 157 | 2,307 | 394 | ||
Non-cash rent expense | ||||||
- | - | - | 9 | 47 | ||
Loss on extinguishment of debt | ||||||
-566 | -229 | 0 | -35 | - | ||
Loss on preferred stock repurchase liability | ||||||
0 | 0 | -587 | - | - | ||
Change in fair value of preferred stock warrant liability | ||||||
105 | 3,487 | -1,266 | - | - | ||
Change in fair value of warrant liability | ||||||
- | - | - | -39 | -1 | ||
Change in fair value of derivative liability | ||||||
- | - | - | 1,388 | - | ||
Changes in operating assets and liabilities: | ||||||
Grant and incentive receivables | ||||||
- | - | - | 152 | -56 | ||
Prepaid expenses, other current assets and research and development incentive receivable | ||||||
-109 | -279 | -402 | 2,219 | 31 | ||
Accounts payable | ||||||
-2,752 | 1,307 | -1,169 | 1,264 | 77 | ||
Accrued expenses | ||||||
160 | 1,549 | 1,409 | 521 | 758 | ||
Lease liabilities | ||||||
-753 | 0 | 0 | - | - | ||
Unearned income | ||||||
- | - | - | -235 | 699 | ||
Net cash used in operating activities | ||||||
-48,055 | -25,420 | -21,311 | -21,639 | -10,816 | ||
Cash flows from investing activities: | ||||||
Cash, cash equivalents and restricted cash acquired in connection with the Merger | ||||||
26,406 | 0 | 0 | - | - | ||
Proceeds from transfer of non-financial assets | ||||||
1,000 | 0 | 0 | - | - | ||
Acquisition of property, equipment and intangible assets | ||||||
174 | 0 | 378 | 73 | 170 | ||
Changes in restricted cash | ||||||
- | - | - | - | 77 | ||
Net cash provided by investing activities | ||||||
27,232 | 0 | -378 | -73 | -247 | ||
Cash flows from financing activities: | ||||||
Proceeds from exercise of stock options and warrants | ||||||
792 | 7 | 9 | - | - | ||
Proceeds from borrowings under loan and security agreements, net of issuance costs | ||||||
9,849 | 9,908 | 6,000 | - | - | ||
Proceeds from issuance of redeemable convertible preferred stock | ||||||
- | - | - | 5,500 | 7,000 | ||
Proceeds from issuance of loans payable | ||||||
- | - | - | 7,000 | - | ||
Proceeds from issuance of Series B convertible preferred stock, net of issuance costs | ||||||
0 | 4,461 | 27,413 | 5,500 | 4,000 | ||
Proceeds from issuance of loans under funding agreements | ||||||
- | - | - | 514 | 1,527 | ||
Proceeds from exercise of stock options | ||||||
- | - | - | - | 16 | ||
Repurchase of Series Seed convertible preferred stock | ||||||
0 | 1,126 | 0 | - | - | ||
Repayments of borrowings under loan and security agreement | ||||||
9,368 | 6,380 | 0 | 250 | 1,000 | ||
Proceeds from sale of common stock and warrants, net of issuance costs | ||||||
139,400 | 0 | 0 | - | - | ||
Payments of issuance costs of convertible promissory notes | ||||||
- | - | - | - | 26 | ||
Payments of issuance costs of convertible preferred stock | ||||||
- | - | - | 87 | 12 | ||
Payments of issuance costs of loans payable | ||||||
- | - | - | 30 | - | ||
Net cash provided by financing activities | ||||||
140,661 | 6,870 | 33,422 | 18,147 | 11,505 | ||
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||
-250 | 0 | 0 | -103 | - | ||
Net (decrease) increase in cash, cash equivalents and restricted cash | ||||||
119,588 | -18,550 | 11,733 | -3,668 | - | ||
Effect of exchange rate changes on cash | ||||||
- | - | - | - | -122 | ||
Net increase (decrease) in cash and cash equivalents | ||||||
- | - | - | - | 320 | ||
Supplemental disclosure of cash flow information | ||||||
Cash paid for interest | ||||||
1,284 | 540 | 282 | - | 81 | ||
Cash paid for taxes | ||||||
- | - | - | - | 29 | ||
Supplemental disclosure of non-cash investing and financing activities: | ||||||
Purchase of property, equipment and intangible assets included in accounts payable | ||||||
40 | 0 | 0 | - | - | ||
Issuance costs related to sale of common stock and warrants, not yet paid | ||||||
775 | - | - | - | - | ||
Conversion of convertible preferred stock into common stock | ||||||
64,675 | 0 | 0 | - | - | ||
Conversion of redeemable common stock into common stock | ||||||
734 | 0 | 0 | - | - | ||
Conversion of convertible preferred stock warrants into common stock warrants | ||||||
5,235 | 0 | 0 | - | - | ||
Purchases of property and equipment included in accounts payable and accrued expenses | ||||||
- | - | - | 2 | 23 | ||
Issuance of redeemable convertible preferred stock upon extinguishment of convertible promissory notes | ||||||
- | - | - | 4,452 | - | ||
Derivative liability in connection with issuance of convertible promissory notes | ||||||
- | - | - | 3,929 | 1,793 | ||
Extinguishment of convertible promissory notes | ||||||
- | - | - | 2,677 | - | ||
Extinguishment of derivative liability in connection with extinguishment of convertible promissory notes | ||||||
- | - | - | 1,741 | - | ||
Issuance of warrants in connection with issuance of loans payable | ||||||
- | - | - | 60 | - | ||
Fair value of net assets acquired in the Merger | ||||||
19,952 | 0 | 0 | - | - | ||
Initial fair value of derivative liability in connection with loan and security agreement | ||||||
0 | 18 | 0 | - | - | ||
Issuance of warrants in connection with Series B convertible preferred stock financing | ||||||
0 | 172 | 817 | - | - | ||
Issuance of warrants in connection with loan and security agreement | ||||||
0 | 132 | 0 | - | - | ||
Accretion of redeemable convertible preferred stock to redemption value | ||||||
- | - | - | 25 | 19 | ||