| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 |
|---|---|---|---|---|---|---|---|---|
Operating activities: | ||||||||
Net loss | ||||||||
-213,030 | -176,813 | -146,486 | -131,465 | -120,201 | -102,808 | 0 | 0 | 0 |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
Depreciation and amortization | ||||||||
828 | 800 | 645 | 620 | 672 | 600 | 0 | 0 | 0 |
Amortization of operating lease right-of-use assets | ||||||||
1,080 | 964 | 0 | 0 | 0 | - | - | - | - |
Accretion (amortization) of premiums and discounts on investments | ||||||||
3,283 | 3,698 | 3,845 | 2,861 | 1,727 | 1,094 | 0 | 0 | 0 |
Amortization of Term Loan discount and issuance costs | ||||||||
2,436 | 2,173 | 1,978 | 1,823 | 1,676 | 1,316 | 0 | 0 | 0 |
Stock-based compensation | ||||||||
30,884 | 25,168 | 17,876 | 10,900 | 7,457 | 5,152 | 0 | 0 | 0 |
Changes in fair value of compound derivative liability | ||||||||
1,488 | 816 | 309 | 213 | -150 | -188 | 0 | 0 | 0 |
Changes in operating assets and liabilities: | ||||||||
Prepaid expenses and other assets | ||||||||
2,512 | 1,492 | 2,716 | 2,960 | 2,205 | 1,338 | 0 | 0 | 0 |
Accounts payable | ||||||||
5,661 | -2,621 | -1,913 | -3,864 | -3,516 | 4,573 | 0 | 0 | 0 |
Accrued expenses and other liabilities | ||||||||
20,386 | 25,955 | 1,291 | 9,850 | 14,425 | -1,087 | 0 | 0 | 0 |
Operating lease liabilities | ||||||||
-615 | -707 | 0 | 0 | 0 | - | - | - | - |
Net cash used in operating activities | ||||||||
-156,782 | -129,590 | -132,757 | -117,710 | -103,602 | -94,856 | 0 | 0 | 0 |
Investing activities: | ||||||||
Purchases of investments | ||||||||
498,768 | 497,492 | 506,301 | 513,011 | 261,895 | 233,928 | 0 | 0 | 0 |
Maturities of investments | ||||||||
405,303 | 371,417 | 282,780 | 185,511 | 129,545 | 86,429 | 0 | 0 | 0 |
Purchases of property and equipment | ||||||||
1,590 | 1,423 | 1,260 | 1,334 | 554 | 855 | 0 | 0 | 0 |
Net cash provided by investing activities | ||||||||
-95,055 | -127,498 | -224,781 | -328,834 | -132,904 | -148,354 | 0 | 0 | 0 |
Financing activities: | ||||||||
Payments of equity offering costs | ||||||||
600 | 921 | 921 | 5,468 | 6,159 | 6,564 | 0 | 0 | 0 |
Proceeds from issuance of common stock under equity incentive plans | ||||||||
3,352 | 3,036 | 2,325 | 2,004 | 806 | 632 | 0 | 0 | 0 |
Proceeds from leasehold improvement loan | ||||||||
- | - | - | - | - | 276 | 0 | 0 | 0 |
Repayments of leasehold improvement loan | ||||||||
-124 | -106 | -109 | -48 | -81 | -113 | 0 | 0 | 0 |
Proceeds (payments) under Term Loan, net | ||||||||
19,870 | 18,551 | 13,471 | 13,459 | 13,589 | 38,542 | 0 | 0 | 0 |
Net cash provided by (used in) financing activities | ||||||||
240,464 | 238,490 | 232,688 | 465,553 | 245,952 | 270,608 | 0 | 0 | 0 |
Net increase (decrease) in cash and cash equivalents | ||||||||
-11,373 | -18,598 | -124,850 | 19,009 | 9,446 | 27,398 | 0 | 0 | 0 |
Supplemental disclosures | ||||||||
Cash paid for interest | ||||||||
3,777 | 3,348 | 3,043 | 2,723 | 2,394 | 1,612 | 0 | 0 | 0 |
Supplemental disclosures of non-cash investing and financing activities | ||||||||
Deferred offering costs incurred but not paid | ||||||||
0 | - | - | 0 | 0 | - | - | 0 | 0 |
Warrants and compound derivative liability related to Term Loan | ||||||||
251 | 535 | 1,167 | 1,167 | 1,167 | 1,693 | 0 | 0 | 0 |
Purchase of property and equipment in accounts payable and accrued expenses | ||||||||
1,026 | 820 | 182 | -39 | -24 | 27 | 0 | 0 | 0 |