| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss | ||||||
-79,776 | -76,934 | -47,536 | -27,433 | |||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Depreciation and amortization expense | ||||||
1,644 | 1,500 | 920 | 411 | |||
Non-cash lease expense | ||||||
1,186 | 0 | - | - | |||
Net amortization of premiums and discounts on marketable securities | ||||||
-5 | 4 | -190 | 0 | |||
Stock-based compensation expense | ||||||
7,340 | 6,229 | 3,042 | 1,370 | |||
Loss on disposal of property and equipment | ||||||
-39 | -25 | -19 | -38 | |||
Changes in operating assets and liabilities: | ||||||
Prepaid expenses and other current assets | ||||||
-268 | 340 | 543 | -15 | |||
Other long-term assets | ||||||
22 | -125 | -717 | 793 | |||
Accounts payable | ||||||
-2,311 | 1,951 | -942 | 1,029 | |||
Accrued expenses and other liabilities | ||||||
-716 | 4,062 | 2,852 | 1,206 | |||
Lease liabilities | ||||||
-1,069 | 0 | - | - | |||
Net cash used in operating activities | ||||||
-73,412 | -63,428 | -41,281 | -24,157 | |||
Cash flows from investing activities: | ||||||
Purchases of marketable securities | ||||||
0 | 72,939 | 33,979 | 0 | |||
Sales and maturities of marketable securities | ||||||
50,681 | 43,550 | 12,300 | 0 | |||
Purchases of property and equipment | ||||||
1,084 | 3,222 | 3,242 | 2,396 | |||
Cash proceeds from sales of property and equipment | ||||||
- | - | 0 | 39 | |||
Net cash (used in) provided by investing activities | ||||||
49,597 | -32,611 | -24,921 | -2,357 | |||
Cash flows from financing activities: | ||||||
Proceeds from Issuance Initial Public Offering | ||||||
0 | 93,000 | 0 | 0 | |||
Proceeds from equity offerings, net of issuance costs | ||||||
334 | 0 | - | - | |||
Proceeds from exercise of stock options | ||||||
115 | 404 | 55 | 0 | |||
Proceeds from the issuance of common stock under ESPP | ||||||
63 | 0 | - | - | |||
Repurchase of unvested restricted common stock | ||||||
2 | 1 | 4 | 0 | |||
Payment of initial public offering costs | ||||||
0 | 3,065 | 23 | 0 | |||
Net cash (used in) provided by financing activities | ||||||
510 | 90,338 | 35,909 | 111,120 | |||
Net decrease in cash, cash equivalents and restricted cash | ||||||
-23,305 | -5,701 | -30,293 | 84,606 | |||
Supplemental disclosure of non-cash items: | ||||||
Accretion of redeemable convertible preferred stock to redemption value | ||||||
0 | 6,371 | 10,396 | 2,989 | |||
Deferred offering costs included in accounts payable and accrued expenses | ||||||
- | - | 1,544 | 0 | |||
Stock Issued During Period, Value, Conversion of Convertible Securities | ||||||
0 | 181,831 | 0 | 0 | |||
Purchases of property and equipment included in accounts payable and accrued expenses | ||||||
0 | 497 | 919 | 363 | |||
Series A preferred stock | ||||||
Proceeds from Issuance of Redeemable Convertible Preferred Stock | ||||||
- | - | 0 | 41,381 | |||
Series B preferred stock | ||||||
Proceeds from Issuance of Redeemable Convertible Preferred Stock | ||||||
- | - | 35,881 | 69,739 | |||