| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss | ||||||
-60,925 | -41,662 | -39,886 | -32,641 | -13,153 | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Non-cash research and development expense | ||||||
- | - | - | 4,595 | 3,517 | ||
Depreciation and amortization | ||||||
750 | 409 | 363 | 279 | 11 | ||
Non-cash lease cost | ||||||
408 | - | - | - | - | ||
Loss on disposal of fixed assets | ||||||
-184 | -248 | - | - | - | ||
Gain on settlement of derivative liability | ||||||
223 | - | - | - | - | ||
Change in fair value of derivative liabilities | ||||||
- | - | 1,541 | 580 | -174 | ||
Share-based compensation | ||||||
3,776 | 2,749 | 1,427 | 180 | 21 | ||
Realized (gain) loss on investments | ||||||
1 | - | - | - | - | ||
Unrealized foreign currency transaction (gain) loss | ||||||
18 | -373 | -83 | - | - | ||
Accretion of discount on marketable securities | ||||||
750 | 671 | - | - | - | ||
Changes in operating assets and liabilities: | ||||||
Other receivables | ||||||
7,384 | -635 | 707 | 294 | 10 | ||
Prepaid expenses and other current assets | ||||||
-2,654 | 5,497 | 575 | 966 | 280 | ||
Tax incentive receivables | ||||||
-299 | -770 | 1,811 | 144 | - | ||
Other assets | ||||||
2,912 | 1,192 | - | - | - | ||
Deposits | ||||||
- | - | - | -53 | -150 | ||
Accounts payable | ||||||
564 | 84 | 2,349 | -644 | 671 | ||
Accrued expenses and other current liabilities | ||||||
13,610 | 3,575 | 1,315 | 2,322 | 409 | ||
Deferred rent | ||||||
- | 554 | -128 | -84 | - | ||
Other long-term liabilities | ||||||
-52 | - | - | - | - | ||
Advance payments from collaborator | ||||||
- | - | - | -929 | -470 | ||
Net cash used in operating activities | ||||||
-50,020 | -39,625 | -39,111 | -28,959 | - | ||
Cash flows from investing activities: | ||||||
Net cash used in operating activities | ||||||
- | - | - | - | -9,608 | ||
Purchases of marketable securities | ||||||
88,993 | 130,175 | - | - | - | ||
Proceeds from maturities of marketable securities | ||||||
118,837 | 49,455 | - | - | - | ||
Purchases of property and equipment | ||||||
314 | 2,436 | 27 | 830 | 232 | ||
Net cash provided by (used in) investing activities | ||||||
29,530 | -83,156 | -27 | -830 | - | ||
Cash flows from financing activities: | ||||||
Proceeds from equity offering | ||||||
15,790 | - | - | - | - | ||
Payment of offering costs | ||||||
- | - | 3,574 | - | - | ||
Proceeds from stock option exercises | ||||||
508 | 335 | - | - | - | ||
Proceeds from initial public offering of common stock, net of commissions and underwriting discounts | ||||||
- | - | 77,749 | - | - | ||
Net cash used in investing activities | ||||||
- | - | - | - | -232 | ||
Changes in restricted cash | ||||||
- | - | - | - | 30 | ||
Cash payment for non-controlling interests | ||||||
- | - | 1,175 | - | - | ||
Net cash provided by financing activities | ||||||
16,140 | 69,523 | 116,111 | 34,413 | - | ||
Net increase (decrease) in cash and cash equivalents | ||||||
-4,350 | -53,258 | 76,973 | 4,624 | - | ||
Net cash provided by financing activities | ||||||
- | - | - | - | 15,275 | ||
Net increase in cash and cash equivalents | ||||||
- | - | - | - | 5,435 | ||
Supplemental disclosure of non-cash investing and financing activities: | ||||||
Purchases of property and equipment included in accounts payable and accrued expenses | ||||||
- | 54 | - | - | 728 | ||
Deferred offering costs included in accounts payable and accrued expenses | ||||||
- | - | - | - | 11 | ||
Conversion of bridge units into preferred units | ||||||
- | - | 8,500 | - | 8,000 | ||
Conversion of preferred stock to common stock | ||||||
- | - | 107,018 | - | - | ||
Settlement of derivative liabilities upon issuance of preferred units | ||||||
- | - | 944 | - | 888 | ||
Issuance of tranche rights with preferred units | ||||||
- | - | - | 909 | 2,401 | ||
Deemed contribution of capital | ||||||
- | - | - | 2,408 | 1,419 | ||
Settlement of derivative liability upon issuance of bridge units | ||||||
- | - | - | 305 | - | ||
Issuance of contingent prepayment option with bridge units | ||||||
- | - | - | 908 | - | ||
Cumulative dividends on redeemable convertible preferred shares | ||||||
- | - | 6,146 | 3,441 | 932 | ||
Accretion of redeemable convertible preferred units and stock to redemption value | ||||||
- | - | 632 | 969 | 34 | ||
Accretion of bridge units to redemption value | ||||||
- | - | 576 | 27 | 2,307 | ||
Issuance of additional shares of common stock to minority investors under anti-dilution rights | ||||||
- | - | - | 980 | 1,459 | ||
2018 Equity Offering [Member] | ||||||
Proceeds from equity offering | ||||||
- | 70,500 | - | - | - | ||
Payment of offering costs | ||||||
- | 996 | - | - | - | ||
Series C Preferred Stock [Member] | ||||||
Payment of offering costs | ||||||
- | - | 176 | - | - | ||
Proceeds from issuance of preferred units, net of issuance costs | ||||||
- | - | 43,111 | - | - | ||
2018 Registration Statement and At-the-Market Facility [Member] | ||||||
Payment of offering costs | ||||||
158 | 316 | - | - | - | ||
Bridge Units [Member] | ||||||
Proceeds from issuance of bridge units | ||||||
- | - | - | 8,500 | - | ||
Series B Preferred Stock [Member] | ||||||
Proceeds from issuance of preferred units, net of issuance costs | ||||||
- | - | - | 25,913 | - | ||