| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net loss | ||||||
-41,975 | -34,346 | -11,862 | ||||
Adjustments to reconcile net loss to net cash used in operating activities | ||||||
Depreciation and amortization | ||||||
1,245 | 886 | 391 | ||||
Net amortization of premiums and discounts on marketable securities | ||||||
473 | 808 | 27 | ||||
Stock-based compensation | ||||||
2,168 | 950 | 136 | ||||
Issuance of Series B redeemable convertible preferred stock pursuant to license agreement | ||||||
- | 3,812 | - | ||||
Change in fair value of redeemable convertible preferred stock liability | ||||||
- | 70 | 2,426 | ||||
Landlord contributions for leasehold improvements | ||||||
- | 367 | - | ||||
Loss on sale of property and equipment | ||||||
-14 | 54 | - | ||||
Gain on sales of marketable securities | ||||||
8 | 11 | - | ||||
Changes in assets and liabilities | ||||||
Prepaid expenses and other assets | ||||||
1,963 | 243 | -331 | ||||
Right-of-use assets | ||||||
-1,093 | - | - | ||||
Accounts payable | ||||||
-195 | 322 | 254 | ||||
Accrued and other liabilities | ||||||
2,030 | 1,672 | 1,015 | ||||
Deferred rent | ||||||
- | -97 | -36 | ||||
Lease liabilities | ||||||
-1,249 | - | - | ||||
Net cash used in operating activities | ||||||
-39,313 | -27,620 | -12,224 | ||||
Cash flows from investing activities | ||||||
Purchases of property and equipment, net | ||||||
1,353 | 1,708 | 1,757 | ||||
Purchases of marketable securities | ||||||
88,004 | 133,301 | 13,470 | ||||
Maturities of marketable securities | ||||||
73,528 | 65,830 | 6,300 | ||||
Sales of marketable securities | ||||||
18,094 | 6,000 | - | ||||
Net cash provided by investing activities | ||||||
2,265 | -63,179 | -8,927 | ||||
Cash flows from financing activities | ||||||
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs | ||||||
- | 105,358 | 17,264 | ||||
Proceeds from issuance of common stock in initial public offering, net of issuance costs | ||||||
50,321 | - | - | ||||
Proceeds from exercise of common stock options | ||||||
289 | 91 | 226 | ||||
Payments of deferred offering costs | ||||||
- | 71 | - | ||||
Net cash provided by (used in) financing activities | ||||||
50,610 | 105,378 | 17,490 | ||||
Net increase in cash, cash equivalents and restricted cash | ||||||
13,562 | 14,579 | -3,661 | ||||
Supplemental disclosure of cash flow information: | ||||||
Cash paid for income taxes | ||||||
1 | 1 | - | ||||
Cash paid for interest | ||||||
91 | 99 | 19 | ||||
Supplemental non-cash investing and financing activities: | ||||||
Leasehold improvements acquired through tenant improvement allowance | ||||||
- | - | 1,637 | ||||
Unpaid deferred offering costs | ||||||
- | 499 | - | ||||
Vesting of early exercised options and restricted stock | ||||||
114 | 189 | 120 | ||||
Purchases of property and equipment in accounts payable and accrued liabilities | ||||||
- | 604 | 70 | ||||
Extinguishment of redeemable convertible preferred stock liability | ||||||
- | 3,137 | 135 | ||||
Conversion of redeemable convertible preferred stock into common stock | ||||||
138,391 | - | - | ||||
Series B Redeemable Convertible Preferred Stock | ||||||
Issuance of Series B redeemable convertible preferred stock pursuant to license agreement | ||||||
- | 3,812 | - | ||||