| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||
Net loss | ||||||
-99,533 | -85,343 | -67,543 | -31,634 | -12,397 | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Depreciation and amortization | ||||||
5,600 | 4,500 | 3,000 | 1,104 | 328 | ||
Loss on disposal of property and equipment | ||||||
-1 | -75 | -166 | -13 | -9 | ||
Equity-based compensation | ||||||
15,091 | 17,046 | 15,322 | 6,715 | 1,308 | ||
Accretion of investment discounts | ||||||
3,725 | 676 | - | - | - | ||
Changes in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
-2,927 | -2,924 | 4,017 | 5,454 | 1,012 | ||
Prepaid expenses and other current assets | ||||||
1,763 | -310 | 1,893 | 979 | 525 | ||
Operating right-of-use assets | ||||||
-5,728 | - | - | - | - | ||
Other assets | ||||||
-153 | -1,022 | -902 | 6,435 | 76 | ||
Accounts payable | ||||||
1,880 | 232 | -488 | 1,784 | 335 | ||
Accrued expenses | ||||||
2,310 | 2,780 | 2,394 | 3,050 | 805 | ||
Deferred revenue | ||||||
-27,122 | -3,936 | -12,988 | 67,975 | 9,312 | ||
Operating lease liabilities | ||||||
-4,774 | - | - | - | - | ||
Other long-term liabilities | ||||||
- | -155 | -125 | -30 | 150 | ||
Net cash used in operating activities | ||||||
-103,240 | -61,257 | -65,276 | 36,109 | -1,763 | ||
Purchases of property and equipment | ||||||
6,794 | 6,358 | 10,091 | 6,165 | 2,554 | ||
Proceeds from sale of property and equipment | ||||||
- | 131 | - | - | - | ||
Purchases of marketable securities | ||||||
297,030 | 254,555 | - | - | - | ||
Maturities of marketable securities | ||||||
329,000 | - | - | - | - | ||
Net cash provided by investing activities | ||||||
25,176 | -260,782 | -10,091 | -6,165 | -2,554 | ||
Proceeds from sale of Class A-1 and A-2 preferred units and Series B preferred stock | ||||||
- | - | - | - | 74,661 | ||
Payments to acquire in-process research and development | ||||||
- | - | - | 600 | 1,100 | ||
Payment of preferred unit and preferred stock issuance costs | ||||||
- | - | - | 100 | 2,671 | ||
Proceeds from common stock offerings, net of offering costs | ||||||
72,256 | 28,547 | 141,000 | 170,507 | - | ||
Proceeds from options exercised | ||||||
3,086 | 10,652 | 1,156 | 2 | - | ||
Issuance of shares through employee stock purchase plan | ||||||
1,092 | 1,018 | 825 | 259 | - | ||
Payment of common stock offering costs | ||||||
- | - | - | 2,764 | 602 | ||
Net cash provided by financing activities | ||||||
76,434 | 40,217 | 142,981 | 167,304 | 70,288 | ||
Net increase (decrease) in cash and cash equivalents | ||||||
-1,630 | -281,822 | 67,614 | 197,248 | 65,971 | ||
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||||||
Purchases of property and equipment unpaid at period end | ||||||
800 | 1,071 | 805 | 3,090 | 219 | ||
Right-of-use assets acquired under operating leases | ||||||
2,554 | - | - | - | - | ||
Acquisition of in-process research and development unpaid at period end | ||||||
- | - | - | - | 600 | ||
Financing costs incurred but unpaid at period end | ||||||
- | - | - | - | 970 | ||
Conversion of convertible preferred stock to common stock | ||||||
- | - | - | 88,557 | - | ||