| Dec'18 | Dec'17 | |||||
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net loss | ||||||
-72,282 | -29,955 | |||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Research and development-licenses acquired, expensed | ||||||
0 | 1,000 | |||||
Non-cash research and development expenses | ||||||
0 | 10,481 | |||||
Depreciation | ||||||
32 | 0 | |||||
Loss on disposal of furniture and equipment | ||||||
-35 | 0 | |||||
Amortization of debt discount and debt issuance costs | ||||||
646 | 0 | |||||
Stock-based compensation | ||||||
12,490 | 5,633 | |||||
Changes in operating assets and liabilities: | ||||||
Accounts receivable, net | ||||||
612 | 0 | |||||
Inventory | ||||||
4,390 | 0 | |||||
Prepaid expenses | ||||||
768 | 1,434 | |||||
Accounts payable | ||||||
-482 | 1,106 | |||||
Accrued expenses | ||||||
10,280 | 1,404 | |||||
Accrued interest | ||||||
-926 | 854 | |||||
Due to related party | ||||||
-62 | 12 | |||||
Deferred revenue | ||||||
2,373 | 0 | |||||
Net cash used in operating activities | ||||||
-53,666 | -10,899 | |||||
Cash flows from investing activities | ||||||
Purchases of furniture and equipment | ||||||
367 | 62 | |||||
Purchase of research and development licenses | ||||||
0 | 1,000 | |||||
Net cash used in investing activities | ||||||
-367 | -1,062 | |||||
Cash flows from financing activities | ||||||
Payment of note payable | ||||||
31,077 | 0 | |||||
Debt issuance costs | ||||||
38 | 0 | |||||
Proceeds from the issuance of debt | ||||||
20,000 | 0 | |||||
Payment of offering cost in connection with issuance of Series A preferred stock | ||||||
0 | 711 | |||||
Proceeds from exercise of stock options | ||||||
139 | 100 | |||||
Proceeds from the issuance of common stock | ||||||
80,000 | 86,313 | |||||
Payment of offering cost in connection with issuance of common stock | ||||||
5,271 | 7,604 | |||||
Net cash provided by financing activities | ||||||
63,753 | 78,098 | |||||
Net increase in cash and equivalents | ||||||
9,720 | 66,137 | |||||
Supplemental disclosure of cash flow information: | ||||||
Cash paid for interest | ||||||
2,156 | 377 | |||||
Supplemental disclosure of noncash investing and financing activities: | ||||||
Shares issued from the early exercise of options | ||||||
100 | 0 | |||||
Change in note payable | ||||||
0 | 16,572 | |||||