| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net loss | ||||||
-94,433 | -64,775 | -41,377 | -18,750 | |||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Depreciation and amortization | ||||||
4,745 | 3,961 | 1,970 | 823 | |||
Net amortization of premiums and discounts on marketable securities | ||||||
1,349 | 552 | 158 | -43 | |||
Stock-based compensation | ||||||
5,299 | 2,995 | 1,126 | 597 | |||
Non-cash operating lease expense | ||||||
6,382 | 0 | 0 | - | |||
Warrant issuance in conjunction with license agreement | ||||||
- | - | - | 91 | |||
Changes in operating assets and liabilities: | ||||||
Prepaid expenses and other current assets | ||||||
-37 | 1,781 | 416 | 459 | |||
Operating lease right-of-use assets | ||||||
3,328 | 0 | 0 | - | |||
Deposits and other long-term assets | ||||||
351 | 818 | 78 | 487 | |||
Accounts payable | ||||||
45 | 3,249 | 2,273 | -760 | |||
Accrued compensation | ||||||
650 | 1,724 | 1,190 | 1,018 | |||
Accrued and other non-current liabilities | ||||||
9 | -582 | 810 | 532 | |||
Accrued research and development expenses | ||||||
1,526 | 0 | 0 | - | |||
Deferred rent | ||||||
0 | -396 | -311 | 2,060 | |||
Lease liability | ||||||
54 | 0 | 0 | - | |||
Deferred revenue | ||||||
-4,297 | 18,813 | 0 | - | |||
Net cash used in operating activities | ||||||
-85,011 | -38,162 | -34,971 | -15,292 | |||
Investing activities | ||||||
Purchase of marketable securities | ||||||
80,979 | 102,160 | 63,228 | 47,993 | |||
Maturities of marketable securities | ||||||
112,993 | 48,720 | 41,467 | 22,850 | |||
Purchase of property and equipment | ||||||
16,173 | 5,663 | 11,522 | 6,984 | |||
Disposition of property and equipment | ||||||
0 | 0 | 31 | - | |||
Net cash provided by investing activities | ||||||
15,841 | -59,103 | -33,252 | -32,127 | |||
Financing activities | ||||||
Proceeds from issuance of common stock, net of issuance costs | ||||||
75,202 | 92,586 | 14 | 232 | |||
Payments of deferred financing costs | ||||||
807 | 3,080 | 0 | - | |||
Proceeds from issuance of convertible preferred stock, net of issuance costs | ||||||
0 | 20,935 | 95,798 | 35,714 | |||
Net cash provided by financing activities | ||||||
74,395 | 110,441 | 95,812 | 35,946 | |||
Net decrease in cash, cash equivalents and restricted cash | ||||||
5,225 | 13,176 | 27,589 | - | |||
Net decrease in cash, cash equivalents and restricted cash | ||||||
- | - | - | -11,473 | |||
Supplemental disclosures of non-cash investing and financing information | ||||||
Property and equipment purchases accrued but not yet paid | ||||||
1,232 | 1,482 | 900 | 61 | |||
Remeasurement of operating lease right-of-use asset for lease modification | ||||||
1,878 | 0 | 0 | - | |||
Assets acquired under leasing obligations | ||||||
0 | 0 | 9,300 | - | |||
Receivable from lessor funded financing | ||||||
0 | 0 | 1,226 | - | |||