| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income (loss) | ||||||
-54,789 | -6,597 | -45,377 | -17,453 | |||
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||||||
Depreciation and amortization expense | ||||||
1,785 | 1,347 | 964 | 331 | |||
Stock-based compensation expense | ||||||
5,991 | 5,217 | 4,709 | 1,345 | |||
Non-cash interest expense related to note payable | ||||||
74 | - | - | - | |||
Premiums paid on marketable securities | ||||||
- | - | - | 1,841 | |||
Net amortization of premiums and discounts on marketable securities | ||||||
764 | 377 | -516 | -477 | |||
Realized losses on marketable securities | ||||||
- | - | -2 | 13 | |||
Loss on disposal of property and equipment | ||||||
-1 | -14 | -35 | 0 | |||
Non-cash operating lease cost | ||||||
1,814 | - | - | - | |||
Changes in operating assets and liabilities: | ||||||
Amounts due from related party | ||||||
- | - | -5,000 | 5,000 | |||
Prepaid expenses and other current assets | ||||||
-3,001 | -2,170 | -1,088 | 8,549 | |||
Other assets | ||||||
-12 | 26 | 12 | -41 | |||
Accounts payable | ||||||
583 | 23 | 285 | 1,800 | |||
Accrued expenses and other current liabilities | ||||||
-710 | -524 | 2,945 | 5,430 | |||
Deferred rent | ||||||
- | 52 | -249 | 86 | |||
Operating lease liability | ||||||
-1,778 | - | - | - | |||
Deferred revenue - related party | ||||||
-15,360 | -14,417 | 17,174 | 64,931 | |||
Net cash used in operating activities | ||||||
-60,140 | -13,222 | -12,422 | 41,413 | |||
Purchases of property and equipment | ||||||
1,538 | 2,019 | 1,973 | 836 | |||
Purchases of marketable investments | ||||||
118,347 | 107,257 | - | 97,048 | |||
Proceeds from sales or maturities of marketable securities | ||||||
136,850 | 72,692 | 27,891 | 28,916 | |||
Net cash provided by (used in) investing activities | ||||||
16,965 | -36,584 | 25,918 | -68,968 | |||
Cash flows from financing activities: | ||||||
Proceeds from issuances of redeemable convertible preferred stock, net of issuance costs | ||||||
- | - | - | 25,938 | |||
Payments of initial public offering costs | ||||||
- | 2,031 | 1,200 | - | |||
Proceeds from issuance of common stock upon public offering, net | ||||||
- | 100,440 | - | - | |||
Proceeds from issuance of common stock to a related party | ||||||
- | 11,500 | - | - | |||
Collection of note receivable from officer | ||||||
- | - | 62 | - | |||
Proceeds from issuance of convertible note payable, net of issuance costs | ||||||
7,217 | - | - | - | |||
Payments of debt issuance costs | ||||||
81 | - | - | - | |||
Proceeds for issuance of common stock offering, net | ||||||
24 | - | - | - | |||
Proceeds from exercise of stock options | ||||||
255 | 467 | 102 | 4 | |||
Net cash provided by financing activities | ||||||
7,415 | 110,376 | -1,036 | 25,942 | |||
Net increase (decrease) in cash and cash equivalents and restricted cash | ||||||
-35,760 | 60,570 | 12,460 | -1,613 | |||
Supplemental disclosure of cash flow information: | ||||||
Cash paid for income taxes | ||||||
- | 28 | 3,297 | 7,673 | |||
Supplemental disclosure of non-cash investing and financing activities: | ||||||
Accretion of redeemable convertible preferred stock to redemption value | ||||||
- | 11 | 40 | 41 | |||
Purchases of property and equipment included in accounts payable and accrued expenses | ||||||
- | 692 | 450 | 352 | |||
Deferred offering costs included in accrued expenses | ||||||
- | - | 584 | - | |||
Reclassification of restricted cash from non-current assets to current assets | ||||||
- | - | 85 | - | |||
Reclassification of deposit liability for restricted stock upon vesting of shares | ||||||
- | - | 35 | 26 | |||
Landlord incentives for construction of leasehold improvements recorded as deferred rent | ||||||
- | - | 2,377 | 2,426 | |||