| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Operating Activities: | ||||||
Net loss | ||||||
-77,270 | -74,518 | -19,578 | -42,854 | -67,982 | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Accretion of discount on convertible notes | ||||||
3,602 | 3,059 | 0 | - | - | ||
Amount of reduction in lease liability. | ||||||
0 | 161 | 0 | - | - | ||
Series A preferred shares issued for services | ||||||
- | - | 0 | - | - | ||
Depreciation expense | ||||||
426 | 330 | 204 | 169 | 45 | ||
Change in fair value of warrant liabilities | ||||||
- | - | - | - | -267 | ||
Change in fair value of Convertible Bridge Notes redemption rights derivative | ||||||
- | - | - | - | -480 | ||
Change in fair value of 2020 Convertible Notes derivative liability | ||||||
- | - | - | - | -42,793 | ||
Stock-based compensation | ||||||
13,371 | 13,601 | 1,320 | 2,909 | 2,380 | ||
Loss on extinguishment of debt | ||||||
- | - | - | - | -4,239 | ||
Amortization of premium on short term investments | ||||||
- | - | - | 225 | 75 | ||
Noncash interest expense | ||||||
- | - | - | 222 | 1,132 | ||
Amount of rent expense or loss included in net income that result in non cash flow. | ||||||
- | - | 0 | 60 | 20 | ||
Loss on disposal of property and equipment | ||||||
0 | -317 | 0 | - | - | ||
The sum of the periodic adjustments of the differences between securities' face values and purchase prices that are charged against earnings. This is called accretion if the security was purchased at a discount and amortization if it was purchased at premium. As a noncash item, this element is an adjustment to net income when calculating cash provided by or used in operations using the indirect method. | ||||||
1,066 | 801 | - | - | - | ||
Accretion of discount on investments | ||||||
- | - | 0 | - | - | ||
Changes in operating assets and liabilities: | ||||||
Prepaid expenses and other assets | ||||||
917 | 1,505 | 720 | 948 | 1,256 | ||
Accounts payable and accrued expenses | ||||||
-2,722 | 5,890 | 2,812 | - | - | ||
Amount of increase (decrease) in present value of lessee's discounted obligation for lease payments from operating lease. | ||||||
-87 | 0 | - | - | - | ||
Accounts payable | ||||||
- | - | - | -41 | 487 | ||
Accrued expenses and other liabilities | ||||||
- | - | - | 3,112 | 1,438 | ||
Net cash used in operating activities | ||||||
-64,663 | -53,788 | -15,962 | -37,266 | -17,416 | ||
Investing activities: | ||||||
Cash acquired in connection with the Reverse Merger | ||||||
0 | 76,348 | 0 | - | - | ||
Purchases of investments | ||||||
184,298 | 141,087 | 0 | - | - | ||
Purchases of short-term investments | ||||||
- | - | - | 122,277 | 33,693 | ||
Proceeds from maturities of investments | ||||||
168,556 | 61,276 | 0 | 56,705 | 2,430 | ||
Proceeds from sale of property and equipment | ||||||
0 | 20 | 0 | - | - | ||
Purchases of property and equipment | ||||||
23,269 | 1,453 | 760 | - | - | ||
The cash outflow associated with the purchase of security deposits. | ||||||
0 | 376 | 0 | - | - | ||
Net cash provided by investing activities | ||||||
-39,011 | -5,272 | -760 | -66,059 | -31,675 | ||
Financing activities: | ||||||
Proceeds from sale of treasury stock | ||||||
344 | 0 | - | - | - | ||
Payments from related party payable | ||||||
- | - | 0 | - | - | ||
Common stock repurchase | ||||||
0 | 668 | 0 | - | - | ||
Net proceeds from issuance of common stock in initial public offering | ||||||
- | - | - | - | 38,085 | ||
Proceeds from issuance of 2020 Convertible Notes in initial public offering | ||||||
- | - | - | - | 21,000 | ||
Net proceeds from issuance of common stock | ||||||
- | - | - | 3,997 | 73,965 | ||
Gross proceeds, offering amount | ||||||
177,760 | 154,022 | 0 | - | - | ||
Issuance of common stock, pursuant to exercise of stock options | ||||||
31 | 148 | 0 | - | - | ||
Purchase of property and equipment | ||||||
- | - | - | 487 | 412 | ||
Payment of witholding tax on option exercise | ||||||
344 | 0 | - | - | - | ||
Principal payments on notes payable | ||||||
- | - | - | - | 5,800 | ||
Net cash used in financing activities | ||||||
177,791 | 153,502 | 25,406 | 53,081 | 125,515 | ||
Net change in cash, cash equivalents and restricted cash | ||||||
74,117 | 94,442 | 8,684 | -50,244 | 76,424 | ||
Supplemental disclosure of non-cash financing and investing activities: | ||||||
Accrued purchases of property and equipment | ||||||
4,424 | 0 | - | - | - | ||
Accrued purchases of internal use software | ||||||
226 | 0 | - | - | - | ||
The value of treasury stock purchases paid in prior year classified as noncash financing activities. | ||||||
726 | 0 | - | - | - | ||
The fair value of retired treasury stock in noncash investing and financing activities. | ||||||
1,393 | 0 | - | - | - | ||
Amount of withholding tax payable on shares withheld in treasury stock classified as noncash financing activities. | ||||||
53 | 0 | - | - | - | ||
Acquisition of leasehold improvements | ||||||
- | - | - | - | 445 | ||
Conversion of convertible preferred stock into common stock | ||||||
0 | 41,466 | 0 | - | - | ||
Unrealized (loss) gain on investments | ||||||
147 | -127 | 0 | -43 | -11 | ||
Supplemental cash flow information: | ||||||
Cash paid for interest | ||||||
2,990 | 4,485 | 0 | - | 89 | ||
Cash paid for income taxes | ||||||
26 | 2 | 0 | - | - | ||
Conversion of Notes into common stock | ||||||
- | - | - | - | 66,376 | ||
Stock Option Plans [Member] | ||||||
Proceeds from the issuance of common stock | ||||||
- | - | - | 191 | - | ||
Employee Stock Purchase Plan [Member] | ||||||
Proceeds from the issuance of common stock | ||||||
- | - | - | 155 | - | ||
Series A preferred stock that may be exchanged into common shares or other types of securities at the owner's option. | ||||||
Proceeds from issuance of convertible preferred stock, net | ||||||
- | - | 0 | - | - | ||
Series B preferred stock that may be exchanged into common shares or other types of securities at the owner's option. | ||||||
Proceeds from issuance of convertible preferred stock, net | ||||||
- | - | 25,406 | - | - | ||
2021 Convertible Notes [Member] | ||||||
Proceeds from issuance of 2021 Convertible Notes | ||||||
- | - | - | 52,000 | - | ||
Payments of 2021 Convertible Notes issuance costs | ||||||
- | - | - | 3,262 | - | ||