| Dec'19 | Dec'18 | |||||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net Loss | ||||||
-36,980 | -12,476 | |||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Non-cash interest expense related to convertible promissory notes | ||||||
- | 263 | |||||
Non-cash rent expense | ||||||
367 | 153 | |||||
Stock based compensation | ||||||
2,056 | 155 | |||||
Depreciation and amortization | ||||||
188 | 51 | |||||
Accretion of discount on convertible promissory notes payable | ||||||
- | 694 | |||||
Amortization of discount on available for sale investments | ||||||
812 | 351 | |||||
Change in fair value of derivative liability | ||||||
- | -206 | |||||
Changes in operating assets and liabilities: | ||||||
Prepaid expenses and other current assets | ||||||
5,324 | 690 | |||||
Other assets | ||||||
207 | -50 | |||||
Accounts payable | ||||||
2,580 | -23 | |||||
Accrued expenses and other current liabilities | ||||||
4,855 | 273 | |||||
Net cash used in operating activities | ||||||
-33,277 | -11,695 | |||||
Cash flow from investing activities: | ||||||
Purchase of investments | ||||||
135,415 | 55,242 | |||||
Proceeds from maturities of investments | ||||||
117,723 | 8,700 | |||||
Purchase of property and equipment | ||||||
55 | 212 | |||||
Net cash (used in) provided by investing activities | ||||||
-17,747 | -46,754 | |||||
Cash flows from financing activities: | ||||||
Payments of finance leases | ||||||
559 | - | |||||
Proceeds from issuance of convertible promissory note payable | ||||||
- | 250 | |||||
Proceeds from issuance of common stock upon exercise of stock options | ||||||
97 | 24 | |||||
Proceeds from Series B redeemable convertible preferred stock, net of issuance costs | ||||||
- | 75,688 | |||||
Proceeds from stock warrant exercise | ||||||
1 | - | |||||
Deferred initial public offering costs | ||||||
- | 34 | |||||
Proceeds from initial public offering, net of stock offering costs | ||||||
77,827 | - | |||||
Net cash provided by financing activities | ||||||
77,366 | 75,928 | |||||
Net change in cash and cash equivalents | ||||||
26,342 | 17,479 | |||||
Supplemental disclosures of non-cash information: | ||||||
Right-of-use assets obtained in exchange for new operating lease liabilities | ||||||
878 | - | |||||
Series A Redeemable Convertible Preferred Stock | ||||||
Conversion of redeemable convertible preferred stock to common stock on initial public offering | ||||||
17,178 | - | |||||
Series B Redeemable Convertible Preferred Stock | ||||||
Conversion of redeemable convertible preferred stock to common stock on initial public offering | ||||||
87,816 | - | |||||
Acceleration of vesting of stock on initial public offering | ||||||
856 | - | |||||
Issuance of stock in connection with conversion of convertible promissory notes and accrued interest | ||||||
- | 11,027 | |||||
Issuance of stock for facility lease | ||||||
- | 1,100 | |||||