| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net loss | ||||||
-102,808 | -72,548 | -27,557 | -26,671 | -15,529 | -31,917 | -10,073 |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Depreciation and amortization | ||||||
572 | 105 | 35 | 29 | 22 | 18 | 55 |
Amortization of notes payable conversion option | ||||||
- | - | - | - | - | - | 10 |
Non-employee stock-based compensation expense | ||||||
- | - | - | - | - | 8 | 17 |
Stock-based compensation expense | ||||||
9,558 | 7,013 | 4,920 | 2,473 | 2,487 | 1,284 | 875 |
Accelerated vesting of stock-based compensation expense due to restructuring | ||||||
910 | - | - | - | - | - | - |
Amortization of premium on marketable securities | ||||||
- | - | - | - | 511 | 453 | 48 |
Net accretion and amortization of investments in marketable securities | ||||||
2,237 | 1,945 | 199 | -125 | -228 | -198 | -47 |
Non-cash interest associated with debt discount accretion | ||||||
- | 148 | 437 | 476 | - | - | - |
Loss on extinguishment of debt | ||||||
- | -407 | - | - | - | - | - |
Change in fair value of warrant liability | ||||||
- | 3,700 | 5,773 | -75 | -11,121 | 7,236 | 494 |
Gain on extinguishment of warrant liability | ||||||
- | 422 | - | - | - | - | - |
Accretion of tenant improvement allowance | ||||||
- | 263 | - | - | - | - | - |
Loss on sale of property and equipment | ||||||
- | - | - | - | - | -2 | 632 |
Changes in assets and liabilities: | ||||||
Receivable from collaboration | ||||||
- | -5,000 | 5,000 | - | - | - | - |
Prepaid research and development expenses and other prepaid assets | ||||||
-8,697 | -1,386 | - | - | - | - | - |
Interest receivable and other current assets | ||||||
383 | 178 | - | - | - | - | - |
Other current assets | ||||||
- | - | 98 | -165 | -161 | - | - |
Contract receivables | ||||||
- | - | - | - | - | 101 | 2 |
Accrued interest receivable | ||||||
- | - | - | - | - | 68 | 59 |
Prepaid expenses | ||||||
- | - | -161 | 761 | -1,383 | 1,627 | 217 |
Other assets | ||||||
-2,120 | 1,646 | -120 | 13 | 486 | -3 | 216 |
Accounts payable | ||||||
530 | 662 | 412 | -109 | -1,077 | 1,388 | 40 |
Accrued restructuring charges | ||||||
3,193 | - | - | - | - | - | - |
Accrued liabilities | ||||||
-669 | 6,450 | 1,387 | 1,015 | -46 | 1,889 | 499 |
Accrued interest payable | ||||||
- | -43 | -23 | -7 | 143 | 107 | 692 |
Other liabilities | ||||||
- | - | - | - | - | 13 | -36 |
Net cash used in operating activities | ||||||
-97,900 | -54,936 | -19,632 | -23,353 | -23,324 | -21,114 | -8,458 |
Investing activities | ||||||
Purchases of property and equipment | ||||||
315 | 529 | 27 | 42 | - | 103 | - |
Proceeds from sale of property and equipment | ||||||
- | - | - | - | - | - | 658 |
Purchases of marketable securities | ||||||
290,893 | 276,382 | 98,385 | 22,906 | 42,788 | 27,334 | 6,933 |
Proceeds from maturities of marketable securities | ||||||
252,881 | 222,800 | 30,884 | 50,076 | 31,705 | 10,499 | 44 |
Proceeds from sale of marketable securities | ||||||
3,980 | - | - | - | - | - | - |
Net cash provided by (used in) investing activities | ||||||
-34,347 | -54,111 | -67,528 | 27,128 | -11,083 | -16,938 | -6,231 |
Financing activities | ||||||
Proceeds from issuance of common stock, net of issuance costs | ||||||
107,746 | 135,520 | 100,436 | - | 25,375 | 25,430 | 26,514 |
Proceeds from issuance of common stock pursuant to equity award plans | ||||||
386 | 3,571 | 2,189 | - | - | 5 | - |
Repurchase of preferred stock | ||||||
- | - | - | - | - | - | 3 |
Proceeds from issuance of common stock upon exercise of warrants | ||||||
- | 2,600 | 231 | - | 426 | 46 | - |
Proceeds from facility loan | ||||||
- | - | - | - | 9,482 | - | 4,853 |
Repayment of facility loan principal | ||||||
- | 6,527 | 3,137 | 986 | 4,756 | 244 | - |
Payment of fees to extinguish facility loan | ||||||
- | 126 | - | - | - | - | - |
Cash provided by financing activities | ||||||
108,132 | 134,988 | 99,719 | -986 | 30,527 | 25,237 | 31,364 |
Net increase in cash and cash equivalents | ||||||
-24,126 | 25,941 | 12,559 | 2,789 | -3,880 | -12,815 | 16,675 |
Supplemental disclosure | ||||||
Cash paid for amounts included in the measurement of lease liabilities | ||||||
628 | - | - | - | - | - | - |
Cash paid for interest | ||||||
- | 231 | 666 | 866 | 535 | 435 | 74 |
Supplemental non-cash investing and financing activities | ||||||
Financing costs in accrued expenses | ||||||
- | - | - | - | - | - | 309 |
Issuance of common stock warrants to lenders | ||||||
- | - | - | - | - | - | 479 |
Fair value of forward contract | ||||||
- | - | - | - | - | - | 453 |
Issuance of common stock warrants to lenders | ||||||
- | - | - | - | 258 | 443 | 5,493 |
Conversion of preferred shares into common stock | ||||||
- | - | - | - | - | - | 323,155 |
Issuance of common stock for debt extinguishment | ||||||
- | - | - | - | - | - | 16,945 |
Issuance of common stock upon warrant exercises | ||||||
- | 9,379 | 827 | - | 1,513 | 549 | - |
Operating lease right-of-use assets obtained in exchange for lease liabilities | ||||||
152 | - | - | - | - | - | - |
Lessor funded lease incentives included in property and equipment | ||||||
- | 2,256 | - | - | - | - | - |
Accrued property and equipment | ||||||
- | 156 | - | - | - | - | - |
Net change in accrued financing costs | ||||||
- | - | -144 | 144 | - | - | - |
Noncash issuance costs incurred in common stock financing | ||||||
- | - | - | - | - | 453 | - |
Reclassification of incentive awards to equity | ||||||
- | - | - | - | - | 121 | - |