| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net loss | ||||||
-680,238 | -372,882 | -270,120 | -158,987 | -94,495 | -33,811 | -18,281 |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Stock-based compensation expense | ||||||
153,231 | 101,963 | 35,534 | 23,020 | 15,240 | 2,512 | 61 |
Non-cash licensing and consulting fees | ||||||
- | - | - | - | 1,211 | 127 | 64 |
Premium on marketable securities | ||||||
3,674 | 215 | 105 | 756 | - | - | - |
Amortization of discount on marketable securities | ||||||
6,966 | 9,892 | 293 | -286 | - | - | - |
Depreciation | ||||||
2,300 | 1,100 | 500 | 281 | 115 | 51 | 47 |
Changes in operating assets and liabilities: | ||||||
Prepaid expenses and other current assets | ||||||
4,781 | 15,462 | 1,127 | 3,362 | 681 | 715 | 317 |
Other long-term assets | ||||||
3,793 | - | - | - | - | - | - |
Right-of-use operating asset | ||||||
-8,168 | - | - | - | - | - | - |
Operating lease liabilities, current | ||||||
2,804 | - | - | - | - | - | - |
Operating lease liabilities, non-current | ||||||
-10,761 | - | - | - | - | - | - |
Accounts payable | ||||||
-18,783 | 24,544 | -3,693 | 7,796 | 2,590 | 441 | 674 |
Accrued expenses and other liabilities | ||||||
33,804 | 10,130 | 19,996 | 13,044 | 5,339 | 4,353 | 236 |
Net cash used in operating activities | ||||||
-528,706 | -260,671 | -219,277 | -118,678 | -70,681 | -27,042 | -17,516 |
Proceeds from sales and maturities of marketable securities | ||||||
1,171,270 | 974,757 | 261,225 | 30,499 | - | - | - |
Purchases of marketable securities | ||||||
1,308,675 | 1,484,358 | 244,403 | 259,093 | - | - | - |
Purchases of property and equipment | ||||||
5,751 | 2,860 | 1,360 | 1,421 | 198 | 128 | 3 |
Net cash provided by (used in) investing activities | ||||||
-143,156 | -512,461 | 15,462 | -230,015 | -198 | -128 | -3 |
Cash flows from financing activities | ||||||
Proceeds from stock option exercises and employee stock purchase plan issuances | ||||||
48,850 | 29,108 | 15,972 | 1,406 | 730 | 40 | 51 |
Payment of employee tax obligations related to vesting of restricted stock units | ||||||
2,175 | 904 | - | - | - | - | - |
Payments of offering costs | ||||||
328 | 340 | 179 | 599 | 584 | 2,285 | - |
Proceeds from public offerings of common stock, net of commissions and underwriting discounts | ||||||
561,277 | 631,494 | 326,025 | 330,175 | 129,720 | 96,255 | - |
Net cash provided by financing activities | ||||||
607,624 | 659,358 | 341,818 | 330,982 | 129,866 | 146,870 | 22,783 |
Net increase in cash, cash equivalents and restricted cash | ||||||
-64,238 | -113,774 | 138,003 | -17,711 | 58,987 | 119,700 | 5,264 |
Supplemental disclosure of non-cash operating and investing activities | ||||||
Accretion of redeemable convertible preferred stock to redemption value | ||||||
- | - | - | - | - | 2,294 | 7 |
Conversion of preferred stock to common stock | ||||||
- | - | - | - | - | 92,863 | - |
Purchases of property and equipment included in accounts payable | ||||||
65 | 51 | 138 | 8 | - | - | - |
Right-of-use assets obtained in exchange for new operating lease liabilities | ||||||
872 | - | - | - | - | - | - |
Landlord tenant incentive included in other current assets | ||||||
- | 229 | - | - | - | - | - |
Purchases of property and equipment financed with landlord tenant incentive | ||||||
- | - | 1,665 | - | - | - | - |
Public offering costs included in accounts payable | ||||||
- | - | 95 | - | 165 | - | - |