| Dec'19 | Dec'18 | |||||
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net loss | ||||||
-47,599 | -24,251 | |||||
Adjustments to reconcile net loss to cash used in operating activities: | ||||||
Depreciation and amortization | ||||||
862 | 419 | |||||
Stock-based compensation expense | ||||||
6,702 | 2,133 | |||||
Accretion on investments | ||||||
225 | 280 | |||||
Changes in operating assets and liabilities: | ||||||
Prepaid expenses and other current assets | ||||||
3,057 | 1,433 | |||||
Accounts payable | ||||||
-179 | 2,224 | |||||
Accrued expenses and other liabilities | ||||||
2,137 | 2,450 | |||||
Cash used in operating activities | ||||||
-41,359 | -18,738 | |||||
Investing activities | ||||||
Purchases of equipment | ||||||
3,879 | 1,019 | |||||
Purchase of investments | ||||||
126,261 | 97,810 | |||||
Proceeds from sale or maturity of investments | ||||||
109,725 | 22,490 | |||||
Cash used in investing activities | ||||||
-20,415 | -76,339 | |||||
Financing activities | ||||||
Proceeds from the sale of Series B preferred stock, net of issuance costs | ||||||
0 | 124,830 | |||||
Proceeds from initial public offering, net of issuance costs | ||||||
79,132 | 0 | |||||
Proceeds from the exercise of stock options | ||||||
391 | 100 | |||||
Deferred offering costs | ||||||
0 | 1,990 | |||||
Cash provided by financing activities | ||||||
79,523 | 122,940 | |||||
Net change in cash, cash equivalents, and restricted cash | ||||||
17,749 | 27,863 | |||||
Supplemental disclosure of noncash financing activities | ||||||
Conversion of redeemable convertible preferred stock to common stock | ||||||
259,130 | 0 | |||||
Accretion of redeemable preferred stock to redemption value | ||||||
49,900 | 37,298 | |||||
Deferred offering costs included in accounts payable | ||||||
0 | 558 | |||||
Property and equipment additions in accounts payable | ||||||
270 | 14 | |||||