| Dec'19 | Dec'18 | |||||
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net loss | ||||||
-26,050 | -20,545 | |||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Depreciation | ||||||
39 | 23 | |||||
Changes in fair value of Series C redeemable convertible preferred stock liability | ||||||
- | 2,105 | |||||
Changes in fair value of obligation for loan success fee | ||||||
215 | 138 | |||||
Accretion/accrual of term loan discounts and debt issuance costs | ||||||
- | 60 | |||||
Stock-based compensation | ||||||
1,127 | 496 | |||||
Changes in operating assets and liabilities: | ||||||
Receivables | ||||||
374 | 135 | |||||
Prepaid expenses | ||||||
243 | 1,345 | |||||
Accounts payable | ||||||
777 | 66 | |||||
Accrued expenses | ||||||
1,416 | 772 | |||||
Security deposit | ||||||
- | 33 | |||||
Deferred lease obligation | ||||||
- | -43 | |||||
Net cash used in operating activities | ||||||
-23,093 | -18,289 | |||||
Investing activities | ||||||
Acquisitions of property, equipment and leasehold improvements | ||||||
9 | 158 | |||||
Net cash used in investing activities | ||||||
-9 | -158 | |||||
Financing activities | ||||||
Repayments of term loan | ||||||
- | 4,813 | |||||
Payment of final fees on term loan | ||||||
- | 533 | |||||
Payment of loan success fee | ||||||
675 | - | |||||
Proceeds from exercises of stock options | ||||||
38 | 13 | |||||
Proceeds from sale of Series C redeemable convertible preferred stock, net of issuance costs | ||||||
9,963 | 10,496 | |||||
Proceeds from issuance of common shares upon completion of initial public offering, net of underwriting commissions and discounts | ||||||
51,150 | - | |||||
Payments of initial public offering costs | ||||||
1,213 | 1,534 | |||||
Proceeds from private placement, net of private placement agent fees | ||||||
13,950 | - | |||||
Net cash provided by financing activities | ||||||
73,213 | 3,629 | |||||
Net cash increase (decrease) | ||||||
50,111 | -14,818 | |||||
Supplemental disclosure of cash flow information | ||||||
Interest paid | ||||||
- | 152 | |||||
State research tax credits exchanged for cash | ||||||
124 | 35 | |||||
Supplemental disclosure of non-cash financing activities | ||||||
Dividends accrued on redeemable convertible preferred stock | ||||||
2,239 | 5,402 | |||||
Series C redeemable convertible preferred stock liability reclassified to Series C Preferred Stock | ||||||
- | 1,009 | |||||
Accretion on redeemable convertible preferred stock | ||||||
-1,535 | -370 | |||||