| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss | ||||||
-103,916 | -55,577 | -29,991 | ||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Depreciation | ||||||
6,318 | 1,289 | 684 | ||||
Stock-based compensation expense | ||||||
7,635 | 2,623 | 277 | ||||
Amortization of premium on short-term investments | ||||||
1,871 | 1,589 | 85 | ||||
Loss on disposal of property and equipment | ||||||
-13 | -127 | - | ||||
Change in fair value associated with convertible preferred stock tranche liability | ||||||
- | - | 876 | ||||
Changes in operating assets and liabilities: | ||||||
Prepaid expenses and other current assets | ||||||
-2,759 | 5,003 | 1,463 | ||||
Accounts payable | ||||||
-4,452 | 4,383 | 1,720 | ||||
Accrued expenses and other liabilities | ||||||
2,315 | 3,042 | 864 | ||||
Deferred revenue | ||||||
-569 | -1,890 | 33,411 | ||||
Deferred rent | ||||||
-410 | -10,033 | -186 | ||||
Net cash used in operating activities | ||||||
-91,358 | -42,562 | 6,479 | ||||
Purchases of short-term investments | ||||||
286,391 | 245,328 | 78,071 | ||||
Maturities of short-term investments | ||||||
256,425 | 148,480 | - | ||||
Purchases of property and equipment | ||||||
21,833 | 24,939 | 1,958 | ||||
Changes in restricted cash | ||||||
- | - | 1,497 | ||||
Net cash provided by investing activities | ||||||
-51,799 | -121,787 | -81,526 | ||||
Cash flows from financing activities: | ||||||
Proceeds from issuance of common stock pursuant to employee stock purchase plan | ||||||
829 | - | - | ||||
Proceeds from issuance of common stock in initial public offering, net of discounts and issuance costs | ||||||
134,524 | 150,843 | - | ||||
Repurchase of unvested common stock | ||||||
- | - | 17 | ||||
Proceeds from issuance of common stock from option exercises | ||||||
351 | 87 | - | ||||
Proceeds from issuance of restricted common stock | ||||||
- | 64 | - | ||||
Net cash provided by financing activities | ||||||
158,213 | 150,994 | 115,230 | ||||
Net change in cash, cash equivalents and restricted cash | ||||||
15,056 | -13,355 | 40,183 | ||||
Reclassification of liability for common stock vested | ||||||
60 | 75 | 225 | ||||
Property and equipment additions included in accounts payable | ||||||
455 | 9,127 | 167 | ||||
Property and equipment additions included in accrued expenses and other liabilities | ||||||
249 | - | - | ||||
Unrealized gain on available for sale securities, net | ||||||
260 | -4 | - | ||||
Offering costs included in accrued expenses and other liabilities | ||||||
100 | - | - | ||||
Deferred offering costs included in accrued expenses | ||||||
- | - | 1,000 | ||||
Reclassification of tranche liability upon issuance of convertible preferred stock | ||||||
- | - | 5,123 | ||||
ATM | ||||||
Proceeds from issuance of common stock in follow-on public offering, net of discounts and issuance costs | ||||||
22,509 | - | - | ||||
Series A Convertible Preferred Stock | ||||||
Proceeds from issuance of convertible preferred stock, net of issuance costs | ||||||
- | - | 20,479 | ||||
Series B Convertible Preferred Stock | ||||||
Proceeds from issuance of convertible preferred stock, net of issuance costs | ||||||
- | - | 94,768 | ||||