| Dec'19 | Dec'18 | |||||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss | ||||||
-43,328 | -23,831 | |||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Depreciation and amortization | ||||||
821 | 539 | |||||
Premium amortization and discount accretion on marketable securities | ||||||
1,560 | - | |||||
Equity‑based compensation | ||||||
3,532 | 997 | |||||
Non-cash interest expense | ||||||
- | 43 | |||||
Loss on early debt extinguishment | ||||||
- | -28 | |||||
Change in fair value of warrants | ||||||
93 | - | |||||
Other non-cash items | ||||||
22 | -1 | |||||
Change in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
3,467 | - | |||||
Prepaid expenses and other current assets | ||||||
1,868 | 743 | |||||
Other assets | ||||||
77 | 51 | |||||
Accounts payable | ||||||
3,164 | 862 | |||||
Accrued expenses | ||||||
3,389 | 1,888 | |||||
Deferred revenue | ||||||
-2,239 | 96,643 | |||||
Deferred rent | ||||||
-56 | -27 | |||||
Other long-term liabilities | ||||||
-33 | -12 | |||||
Net cash (used in) provided by operating activities | ||||||
-41,651 | 76,337 | |||||
Cash flows from investing activities: | ||||||
Purchases of marketable securities | ||||||
296,328 | - | |||||
Proceeds from maturities of marketable securities | ||||||
162,500 | - | |||||
Purchase of property and equipment | ||||||
2,158 | 659 | |||||
Proceeds from disposal of lab equipment | ||||||
- | 3 | |||||
Net cash provided by (used in) investing activities | ||||||
-135,986 | -656 | |||||
Cash flows from financing activities: | ||||||
Repayment of debt | ||||||
- | -652 | |||||
Proceeds from issuance of Common Stock pursuant to stock options exercise | ||||||
27 | - | |||||
Proceeds from issuance of Common Stock under Employee Stock Purchase Plan | ||||||
93,268 | - | |||||
Proceeds from issuance of Preferred Stock, net | ||||||
- | 90,122 | |||||
Net cash provided by financing activities | ||||||
93,295 | 89,470 | |||||
Net (decrease) increase in cash and cash equivalents and restricted cash | ||||||
-84,342 | 165,151 | |||||
Non-cash investing and financing activities: | ||||||
Purchases of property and equipment in accounts payable and accrued expenses | ||||||
269 | - | |||||
Reclassification of warrants to additional paid-in capital | ||||||
118 | - | |||||
Conversion of preferred shares to common stock | ||||||
139,809 | - | |||||
Supplemental cash flow information: | ||||||
Cash paid for taxes | ||||||
550 | - | |||||
Cash paid for interest | ||||||
- | 68 | |||||