| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net loss | ||||||
-197,614 | -36,240 | -88,185 | -86,652 | |||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Depreciation and amortization | ||||||
8,000 | 7,400 | 3,100 | 1,500 | |||
Stock–based compensation expense | ||||||
38,378 | 18,791 | 4,409 | 2,951 | |||
Net amortization of discounts on marketable securities | ||||||
5,019 | 2,705 | -753 | -304 | |||
Non-cash operating lease expense | ||||||
0 | 3,438 | 0 | 0 | |||
Non-cash operating lease expense | ||||||
864 | 0 | 0 | - | |||
Gain on disposal of property and equipment | ||||||
- | - | - | -3 | |||
Other non-cash items | ||||||
351 | 36 | -1 | - | |||
Fair value of common stock issued in connection with asset acquisition | ||||||
- | - | - | 5,280 | |||
Changes in operating assets and liabilities: | ||||||
Prepaid expenses and other assets | ||||||
-6,675 | 18,290 | -73 | 533 | |||
Accounts payable | ||||||
1,033 | -526 | 207 | 161 | |||
Accruals and other current liabilities | ||||||
1,500 | 9,113 | 3,578 | 5,357 | |||
Contract liabilities | ||||||
-6,286 | 68,777 | 0 | 0 | |||
Operating lease liability | ||||||
1,253 | 0 | 0 | - | |||
Other non-current liabilities | ||||||
0 | 379 | -553 | -248 | |||
Net cash used in operating activities | ||||||
-151,576 | 50,116 | -76,635 | -71,908 | |||
Investing activities | ||||||
Purchases of marketable securities | ||||||
369,696 | 557,930 | 179,789 | 226,370 | |||
Purchases of property and equipment | ||||||
17,919 | 3,393 | 2,875 | 6,134 | |||
Purchase of other investments | ||||||
- | - | - | 500 | |||
Maturities and sales of marketable securities | ||||||
535,327 | 273,901 | 141,498 | 14,000 | |||
Net cash used in investing activities | ||||||
147,712 | -287,422 | -41,166 | -219,004 | |||
Financing activities | ||||||
Issuance of common stock in connection with the Takeda Collaboration Agreement | ||||||
0 | 94,406 | 0 | 0 | |||
Proceeds from public offering of common stock, net of issuance costs | ||||||
0 | 0 | 265,619 | 0 | |||
Proceeds from issuance of convertible preferred stock, net of issuance costs | ||||||
0 | 0 | 29,971 | 300,365 | |||
Proceeds from exercise of awards under equity incentive plans | ||||||
6,190 | 3,999 | 733 | 111 | |||
Net cash provided by financing activities | ||||||
6,190 | 97,019 | 296,323 | 300,476 | |||
Net increase (decrease) in cash, cash equivalents and restricted cash | ||||||
2,326 | -140,287 | 178,522 | 9,564 | |||
Supplemental disclosures of cash flow information | ||||||
Tenant improvements provided by the landlord | ||||||
11,343 | 14,561 | 0 | 0 | |||
Property and equipment purchases accrued but not yet paid | ||||||
0 | 335 | 103 | 233 | |||
Deferred IPO costs incurred but not yet paid | ||||||
0 | 0 | 1,358 | 0 | |||
Convertible preferred stock issuance costs incurred but not yet paid | ||||||
0 | 0 | 44 | 0 | |||
Common Stock | ||||||
Payments of issuance costs related to issuance of stock | ||||||
0 | 1,342 | 0 | 0 | |||
Preferred Stock | ||||||
Payments of issuance costs related to issuance of stock | ||||||
0 | 44 | 0 | - | |||
Convertible Preferred Stock | ||||||
Payments of issuance costs related to issuance of stock | ||||||
- | - | - | 0 | |||