| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss | ||||||
-117,223 | -74,798 | -53,178 | -23,773 | |||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Amortization of (discount)/premium on available-for-sale securities | ||||||
279 | 90 | -206 | -505 | |||
Equity-based compensation expense | ||||||
14,207 | 5,955 | 5,330 | 1,470 | |||
Depreciation expense | ||||||
2,824 | 1,566 | 448 | 56 | |||
Loss on sale of property and equipment | ||||||
-2 | -4 | - | - | |||
(Gain) from revaluation of preferred unit tranche right | ||||||
- | - | -459 | -1,163 | |||
Changes in operating assets and liabilities: | ||||||
Proceeds from landlord lease incentive for tenant improvements | ||||||
- | -823 | - | - | |||
Prepaid expenses and other current and non-current assets | ||||||
-4,486 | 4,930 | -815 | 2,005 | |||
Accounts payable | ||||||
3,779 | -1,610 | 1,579 | 2,213 | |||
Accrued expenses and other current and non-current liabilities | ||||||
-510 | 2,883 | 2,035 | 2,577 | |||
Net cash used in operating activities | ||||||
-92,714 | -70,197 | -43,224 | -20,120 | |||
Cash flows from investing activities: | ||||||
Purchases of property and equipment | ||||||
4,387 | 7,776 | 2,276 | 392 | |||
Proceeds from sale and maturities of available-for-sale securities | ||||||
-60,399 | -25,335 | -31,621 | -22,035 | |||
Purchases of available-for-sale securities | ||||||
31,496 | 44,321 | 18,897 | 25,695 | |||
Net cash provided by (used in) investing activities | ||||||
24,516 | -26,762 | 10,448 | -4,052 | |||
Cash flows from financing activities: | ||||||
Payment of offering costs | ||||||
2,102 | 2,168 | 2,424 | - | |||
Proceeds from issuance of common stock | ||||||
49,325 | - | - | - | |||
Proceeds from issuance of pre-funded warrants | ||||||
10,652 | - | - | - | |||
Proceeds from issuance of redeemable preferred units | ||||||
- | - | - | 3,420 | |||
Proceeds from initial public offering of common stock, net of commissions and underwriting discounts | ||||||
- | 133,688 | - | - | |||
Principal payments under capital lease obligation | ||||||
- | 13 | - | - | |||
Net cash provided by financing activities | ||||||
57,875 | 131,507 | 77,078 | 3,420 | |||
Net decrease in cash, cash equivalents and restricted cash | ||||||
-10,323 | 34,548 | 44,302 | -20,752 | |||
Supplemental disclosure of non-cash investing and financing activities: | ||||||
Reclassification of preferred unit tranche liability to preferred units upon settlement | ||||||
- | - | - | 10,841 | |||
Accretion of preferred units to redemption value | ||||||
- | - | 959 | -4,309 | |||
Redemption of preferred units | ||||||
- | - | 15,685 | - | |||
Redemption of redeemable interest from non-controlling interest in Solid GT | ||||||
- | - | 1,925 | - | |||
Deferred offering costs included in accounts payable and accrued expenses | ||||||
- | - | 682 | 47 | |||
Property and equipment included in accounts payable and accruals | ||||||
490 | 952 | 265 | 116 | |||
Property and equipment acquired through a capital lease | ||||||
- | 1,023 | - | - | |||
Series D Common Units in Exchange for Series A Common Units [Member] | ||||||
Equity-based compensation expense | ||||||
13 | 54 | 48 | - | |||
Issuance of units | ||||||
- | - | 638 | - | |||
Series 1 Senior Preferred Units [Member] | ||||||
Proceeds from issuance of preferred units | ||||||
- | - | 24,500 | - | |||
Conversion of units into shares of common stock | ||||||
- | 25,000 | - | - | |||
Series 2 Senior Preferred Units [Member] | ||||||
Proceeds from issuance of preferred units | ||||||
- | - | 55,002 | - | |||
Conversion of units into shares of common stock | ||||||
- | 55,002 | - | - | |||
Junior Preferred Units [Member] | ||||||
Conversion of units into shares of common stock | ||||||
- | 44,177 | - | - | |||
Series A, B, C and D Common Units [Member] | ||||||
Conversion of units into shares of common stock | ||||||
- | 65,180 | - | - | |||
Junior Preferred Units Upon Redemption of Class D Non-controlling Interest in Solid GT [Member] | ||||||
Issuance of units | ||||||
- | - | 44,177 | - | |||
Series A Common Units in Exchange for Redeemable Preferred Units [Member] | ||||||
Issuance of units | ||||||
- | - | 55,964 | - | |||
Series C Common Units in Exchange for Class B Non-controlling Interest in Solid GT [Member] | ||||||
Issuance of units | ||||||
- | - | 2,053 | - | |||
Series D Common Units in Exchange for Class C Non-controlling Interest in Solid GT [Member] | ||||||
Issuance of units | ||||||
- | - | 1,409 | - | |||