| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net loss | ||||||
-140,729 | -74,064 | -33,709 | -25,872 | -11,073 | ||
Adjustments to reconcile net loss to cash used in operating activities: | ||||||
Non-cash research and development license expense | ||||||
- | 4,448 | - | - | - | ||
Stock-based compensation expense | ||||||
11,875 | 6,390 | 2,278 | 1,168 | 298 | ||
Depreciation and amortization | ||||||
834 | 442 | 223 | 144 | - | ||
Non-cash rent expense | ||||||
203 | 61 | -76 | 11 | - | ||
Modification of warrant in connection with license agreement | ||||||
- | - | - | - | 923 | ||
Mark to market revaluation of series A investor instrument | ||||||
- | - | 1,863 | - | 500 | ||
Changes in operating assets and liabilities: | ||||||
Prepaid expenses and other current assets | ||||||
6,378 | 6,286 | 1,889 | -41 | 581 | ||
Deferred issuance costs | ||||||
- | - | -9 | -1,472 | 1,481 | ||
Tenant improvement allowance | ||||||
-938 | - | - | -376 | - | ||
Deferred grant income | ||||||
- | - | - | -249 | 249 | ||
Due to related party | ||||||
- | - | -105 | -470 | 575 | ||
Accounts payable, accrued expenses and other current liabilities | ||||||
10,507 | 6,953 | 1,946 | 160 | 3,838 | ||
Net cash used in operating activities | ||||||
-122,750 | -62,056 | -29,460 | -23,219 | -6,752 | ||
Investing activities | ||||||
Purchases of short-term investments | ||||||
295,825 | 248,592 | 126,917 | 15,222 | - | ||
Maturities of short-term investments | ||||||
271,240 | 162,166 | 17,006 | 11,169 | - | ||
Purchases of property and equipment | ||||||
3,385 | 722 | 133 | 1,057 | 17 | ||
Net cash used in investing activities | ||||||
-27,970 | -87,148 | -110,044 | -5,110 | -17 | ||
Financing activities | ||||||
Net proceeds from issuance of common stock | ||||||
161,352 | 162,878 | 125,658 | - | - | ||
Equity contribution | ||||||
- | - | - | - | 2,094 | ||
Proceeds from the exercise of stock options | ||||||
1,564 | 1,808 | 700 | - | - | ||
Proceeds from issuance of common stock from ESPP | ||||||
558 | - | - | - | 39,617 | ||
Net proceeds from issuance of Series A Convertible Preferred Stock | ||||||
- | - | 40,842 | - | - | ||
Net cash provided by financing activities | ||||||
163,474 | 164,686 | 167,200 | - | 41,711 | ||
Net increase in cash, cash equivalents and restricted cash | ||||||
12,754 | 15,482 | 27,696 | -28,329 | 34,942 | ||