| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss | ||||||
-85,550 | -59,925 | -35,377 | -34,533 | |||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Depreciation and amortization expense | ||||||
758 | 562 | 474 | 203 | |||
Stock-based compensation expense | ||||||
6,910 | 3,952 | 1,151 | 848 | |||
Non-cash interest expense | ||||||
507 | 45 | 326 | 631 | |||
Amortization and accretion on marketable securities | ||||||
-698 | - | - | - | |||
Change in fair value of preferred stock warrant liability | ||||||
- | 110 | 28 | -94 | |||
Change in fair value of preferred stock tranche liability | ||||||
- | - | 4,443 | 417 | |||
Gain on disposal of equipment | ||||||
- | - | - | 4 | |||
Changes in operating assets and liabilities: | ||||||
Prepaid expenses and other current assets | ||||||
232 | 1,393 | 803 | 274 | |||
Operating lease, right-of-use assets | ||||||
3,308 | - | - | - | |||
Accounts payable | ||||||
1,733 | 2,751 | 67 | 423 | |||
Accrued expenses and other current liabilities | ||||||
4,177 | 5,184 | 915 | 274 | |||
Operating lease liabilities | ||||||
3,161 | - | - | - | |||
Deferred rent | ||||||
- | -127 | 94 | 163 | |||
Other assets | ||||||
- | -18 | 18 | -5 | |||
Net cash used in operating activities | ||||||
-72,248 | -48,823 | -37,586 | -32,775 | |||
Cash flows from investing activities: | ||||||
Purchase of marketable securities | ||||||
114,685 | - | - | - | |||
Purchases of property and equipment | ||||||
699 | 476 | 582 | 948 | |||
Proceeds from maturities and sales of marketable securities | ||||||
65,775 | - | - | - | |||
Proceeds from sale of property and equipment | ||||||
- | - | - | 3 | |||
Net cash used in investing activities | ||||||
-49,609 | -476 | -582 | -945 | |||
Cash flows from financing activities: | ||||||
Proceeds from modification of long-term debt | ||||||
- | - | - | 48 | |||
Proceeds from common stock offerings, net of underwriting discounts and commissions | ||||||
307,027 | 55,801 | - | - | |||
Proceeds from issuance of convertible preferred stock, net of issuance costs | ||||||
- | 99,606 | 24,231 | 24,213 | |||
Proceeds from issuance of long-term debt | ||||||
29,650 | - | - | - | |||
Tax indemnification payment to stockholders | ||||||
- | - | - | 982 | |||
Payment of debt issuance costs | ||||||
125 | - | - | 30 | |||
Payments on long-term debt, including final payment | ||||||
- | 4,698 | 6,634 | 2,961 | |||
Payments on Genentech letter agreement | ||||||
- | - | - | 1,243 | |||
Proceeds from repayment of promissory notes issued upon early exercise of stock options | ||||||
- | 290 | - | - | |||
Payments of initial public offering costs | ||||||
- | 3,638 | - | - | |||
Proceeds from issuance of common stock upon stock option exercises | ||||||
5,045 | 230 | 55 | 60 | |||
Proceeds from exercises of common stock warrants | ||||||
- | 79 | - | - | |||
Net cash provided by financing activities | ||||||
341,597 | 147,670 | 17,652 | 19,105 | |||
Net decrease in cash, cash equivalents and restricted cash | ||||||
219,740 | 98,371 | -20,516 | -14,615 | |||
Supplemental disclosure of cash flow information: | ||||||
Interest paid | ||||||
1,387 | 105 | 546 | 809 | |||
Income taxes paid | ||||||
1 | - | - | - | |||
Supplemental disclosure of noncash investing and financing information: | ||||||
Purchases of property and equipment included in accounts payable and accrued expenses | ||||||
- | 180 | 5 | 19 | |||
Vesting of common stock subject to repurchase | ||||||
- | 4 | 9 | 23 | |||
Refinancing of final payment on 2013 Loan Agreement as long-term debt | ||||||
- | - | - | 884 | |||
Series A Preferred Stock [Member] | ||||||
Cashless exercise of Series A preferred stock warrants | ||||||
- | - | - | 86 | |||