| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net loss | ||||||
-72,131 | -24,785 | -16,593 | ||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Stock-based compensation expense | ||||||
12,706 | 1,147 | 344 | ||||
Depreciation | ||||||
492 | 138 | 63 | ||||
Accretion of discount on marketable securities | ||||||
1,357 | - | - | ||||
Amortization of right-of-use operating lease asset | ||||||
1,087 | - | - | ||||
Changes in operating assets and liabilities: | ||||||
Prepaid expenses and other current assets | ||||||
5,302 | -88 | 179 | ||||
Security deposits | ||||||
- | -35 | 7 | ||||
Accounts payable | ||||||
903 | -119 | 1,286 | ||||
Accrued expenses and other current liabilities | ||||||
522 | -945 | 2,077 | ||||
Accrued compensation | ||||||
5,323 | 978 | 355 | ||||
Net cash used in operating activities | ||||||
-57,757 | -23,533 | -12,640 | ||||
Investing activities | ||||||
Purchases of marketable securities | ||||||
432,173 | - | - | ||||
Sales and maturities of marketable securities | ||||||
72,838 | - | - | ||||
Purchases of property and equipment | ||||||
1,744 | 302 | 88 | ||||
Net cash provided by (used in) investing activities | ||||||
-361,079 | -302 | -88 | ||||
Financing activities | ||||||
Proceeds from issuance of common stock in initial public offering, net | ||||||
175,151 | - | - | ||||
Proceeds from issuance of common stock in public offering, net | ||||||
189,505 | - | - | ||||
Proceeds from issuance of convertible preferred stock, net of issuance costs | ||||||
- | 79,755 | 44,788 | ||||
Proceeds from issuance of common stock | ||||||
1,339 | 76 | 63 | ||||
Net cash provided by (used in) financing activities | ||||||
365,995 | 79,831 | 44,851 | ||||
Net decrease in cash and cash equivalents | ||||||
-52,841 | 55,996 | 32,123 | ||||
Supplemental disclosure of cash flow information: | ||||||
Cash paid for income taxes | ||||||
1 | 1 | 1 | ||||
Supplemental disclosure of non-cash investing and financing information: | ||||||
Purchases of property and equipment in accounts payable | ||||||
490 | - | - | ||||
Costs incurred in connection with the initial public offering included in accounts payable and accrued expenses | ||||||
- | 684 | - | ||||
Capitalized value of tenant improvement allowance | ||||||
- | 583 | - | ||||
Operating lease liabilities arising from obtaining right-of-use assets | ||||||
5,554 | - | - | ||||