| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 | Sep'17 | Jun'17 | Mar'17 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net loss | ||||||||||||
-217,672 | -192,256 | -157,299 | -125,578 | -125,808 | -99,854 | -87,467 | -75,070 | -64,005 | -50,284 | 0 | 0 | 0 |
Adjustments to reconcile net loss to net cash flows used in operating activities: | ||||||||||||
Stock-based compensation expense | ||||||||||||
21,175 | 20,410 | 17,870 | 15,755 | 13,880 | 9,688 | 9,727 | 8,125 | 6,487 | 4,866 | 0 | 0 | 0 |
Depreciation expense | ||||||||||||
1,156 | 800 | 467 | 386 | 348 | 300 | 317 | 268 | 225 | 200 | 0 | 0 | 0 |
Loss on disposal of property and equipment | ||||||||||||
- | - | - | - | - | - | - | - | - | -10 | 0 | 0 | 0 |
Net accretion of discounts on marketable securities | ||||||||||||
5,045 | 3,999 | 0 | 0 | 0 | - | - | - | - | - | - | - | - |
Changes in operating assets and liabilities: | ||||||||||||
Prepaid expenses and other current assets | ||||||||||||
11,638 | 10,321 | 2,966 | 3,714 | 2,787 | 5,770 | 4,063 | 1,641 | 579 | 637 | 0 | 0 | 0 |
Operating lease assets | ||||||||||||
-1,343 | -958 | 0 | 0 | 0 | - | - | - | - | - | - | - | - |
Accounts payable | ||||||||||||
-278 | 10,862 | 8,719 | 7,358 | 5,478 | 3,991 | 3,199 | 4,683 | 5,043 | 2,904 | 0 | 0 | 0 |
Accrued expenses and other current liabilities | ||||||||||||
14,752 | 24,189 | 14,678 | 9,444 | 5,795 | 4,477 | 0 | 0 | 0 | - | - | - | 0 |
Operating lease liabilities | ||||||||||||
-726 | -319 | 0 | 0 | 0 | - | - | - | - | - | - | - | - |
Other long-term liabilities | ||||||||||||
250 | 350 | 506 | 569 | 473 | 368 | 194 | 31 | -3 | 13 | 0 | 0 | 0 |
Net cash flows used in operating activities | ||||||||||||
-196,660 | -149,296 | -120,331 | -122,072 | -103,095 | -86,783 | -72,668 | -56,602 | -45,979 | -36,702 | 0 | 0 | 0 |
Cash flows from investing activities: | ||||||||||||
Purchases of marketable securities | ||||||||||||
841,062 | 817,142 | 0 | 0 | 0 | - | - | - | - | - | - | - | - |
Maturities of marketable securities | ||||||||||||
464,336 | 261,216 | 0 | 0 | 0 | - | - | - | - | - | - | - | - |
Purchases of property and equipment | ||||||||||||
5,563 | 4,935 | 3,513 | 763 | 1,015 | 1,125 | 952 | 938 | 523 | 406 | 0 | 0 | 0 |
Increase in restricted investments | ||||||||||||
1,055 | 441 | 0 | 0 | 0 | - | - | - | - | - | - | - | - |
Net cash flows used in investing activities | ||||||||||||
-282,564 | -460,522 | -462,505 | -167,911 | -181,691 | -2,194 | -2,021 | -2,007 | -523 | -406 | 0 | 0 | 0 |
Cash flows from financing activities: | ||||||||||||
Proceeds from public offerings, net of underwriting discounts and commissions | ||||||||||||
0 | - | - | - | 0 | - | - | - | - | - | - | - | - |
Repayment of notes payable to related party | ||||||||||||
1,263 | 1,294 | 187 | 187 | 172 | 187 | 187 | 187 | 187 | 187 | 0 | 0 | 0 |
Payments of public offering costs | ||||||||||||
0 | - | - | - | 0 | - | - | - | - | 4,395 | 0 | 0 | 0 |
Proceeds from exercise of stock options | ||||||||||||
7,308 | 5,888 | 3,813 | 1,428 | 2,054 | 915 | 0 | 0 | 0 | - | - | - | - |
Net cash flows provided by financing activities | ||||||||||||
626,648 | 436,374 | 435,673 | 693 | 187,141 | 185,987 | 313,415 | 311,144 | 176,416 | 176,401 | 0 | 0 | 0 |
Net increase (decrease) in cash and cash equivalents | ||||||||||||
147,424 | -173,444 | -147,163 | -289,290 | -97,645 | 97,010 | 238,726 | 252,535 | 129,914 | 139,293 | 0 | 0 | 0 |
Supplemental disclosure of cash flow information: | ||||||||||||
Cash paid for interest | ||||||||||||
54 | 67 | 75 | 79 | 75 | 84 | 87 | 89 | 92 | 95 | 0 | 0 | 0 |
Supplemental disclosure of non-cash investing and financing activities: | ||||||||||||
Property and equipment purchases included in accounts payable and accrued expenses and other current liabilities | ||||||||||||
0 | - | - | - | 0 | - | - | - | 0 | - | - | - | - |
Offering costs included in accounts payable and accrued expenses and other current liabilities | ||||||||||||
0 | - | - | - | 0 | - | - | - | - | 0 | 0 | 0 | 0 |